Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.10%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.80%
baseline attrition
Rally response
-6.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.43B | 9.5% | +60.9% | 10.3 yr |
| MSFTMicrosoft Corporation | $1.05B | 6.9% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $827M | 5.5% | +14.7% | 6.8 yr |
| GOOGAlphabet Inc. | $709M | 4.7% | +84.3% | 10.5 yr |
| TSMTaiwan Semiconductor Man | $552M | 3.7% | +105.6% | 5.5 yr |
| AMZNAmazon.com, Inc. | $516M | 3.4% | +9.5% | 3.3 yr |
| PLDPrologis, Inc. | $503M | 3.3% | +22.3% | 10.0 yr |
| BACBank of America Corporat | $466M | 3.1% | +19.4% | 3.5 yr |
| LINLinde plc | $450M | 3.0% | +7.9% | 3.3 yr |
| LLYEli Lilly and Company | $439M | 2.9% | +12.2% | 5.3 yr |
| VVisa Inc. | $430M | 2.9% | -13.1% | 8.3 yr |
| WDCWestern Digital Corporat | $372M | 2.5% | +571.9% | 2.3 yr |
| ICEIntercontinental Exchang | $346M | 2.3% | -7.8% | 10.5 yr |
| PHParker-Hannifin Corporat | $325M | 2.2% | +48.6% | 9.0 yr |
| METAMeta Platforms, Inc. | $295M | 2.0% | -0.4% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors15.5%+5.7pp$2.34B
Internet Content & Information9.9%+0.0pp$1.49B
Specialty Retail7.7%-1.0pp$1.16B
Software - Infrastructure7.1%-0.5pp$1.07B
Banks - Diversified5.6%+2.0pp$848M
Consumer Electronics5.5%+0.1pp$834M
Drug Manufacturers - General3.5%-1.3pp$524M
Financial - Credit Services3.4%-1.2pp$508M
REIT - Industrial3.3%+0.9pp$503M
Industrial - Machinery3.0%-1.1pp$459M
Country
US85.8%+2.5pp
TW3.7%+1.7pp
GB3.1%+0.5pp
CN1.8%-0.6pp
UY1.8%+0.7pp
LU1.6%-2.9pp
IE1.6%+0.7pp
CA0.3%-1.9pp
Top 5: 30.3% · Top 10: 46.0% · Top 25: 73.2%
Top buys this quarter · 15
| ADBE Adobe Inc. | +$158M |
| ETN Eaton Corporation plc | +$112M |
| VRTX Vertex Pharmaceuticals Incorpo | +$75M |
| YUM Yum! Brands, Inc. | +$60M |
| MSFT Microsoft Corporation | +$1.05B |
| MELI MercadoLibre, Inc. | +$40M |
| NVDA NVIDIA Corporation | +$1.43B |
| TSM Taiwan Semiconductor Manufactu | +$33M |
| URI United Rentals, Inc. | +$26M |
| SLB SLB N.V. | +$19M |
Top sells this quarter · 15
| FIX Comfort Systems USA, Inc. | −$224M |
| COP ConocoPhillipsexit | −$145M |
| PH Parker-Hannifin Corporation | −$141M |
| WDC Western Digital Corporation | −$305M |
| INTC Intel Corporationexit | −$69M |
| CNM Core & Main, Inc.exit | −$66M |
| FSLR First Solar, Inc. | −$63M |
| CL Colgate-Palmolive Company | −$61M |
| AMGN Amgen Inc.exit | −$53M |
| DECK Deckers Outdoor Corporationexit | −$48M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $15.08B | 117 | +18.59% | +17.59% | +1.00% | -0.37B |
| 2025-12-31 | $16.14B | 123 | +20.22% | +17.72% | +2.50% | -0.09B |
| 2025-09-30 | $15.78B | 134 | +16.62% | +17.52% | -0.90% | -0.31B |
| 2025-06-30 | $15.03B | 169 | +20.60% | +14.94% | +5.66% | -0.21B |
| 2025-03-31 | $13.55B | 225 | +7.52% | +8.30% | -0.78% | -0.11B |
| 2024-12-31 | $14.07B | 250 | +19.77% | +24.89% | -5.12% | +0.12B |
| 2024-09-30 | $13.99B | 230 | +34.18% | +36.04% | -1.85% | -0.86B |
| 2024-06-30 | $13.41B | 222 | +15.38% | +24.49% | -9.11% | +0.18B |
| 2024-03-31 | $13.20B | 202 | +24.12% | +29.62% | -5.51% | +0.54B |
| 2023-12-31 | $11.71B | 204 | +21.40% | +26.18% | -4.78% | +0.21B |
| 2023-09-30 | $10.29B | 205 | +15.93% | +21.57% | -5.64% | -0.06B |
| 2023-06-30 | $10.86B | 219 | +9.24% | +19.42% | -10.19% | +0.32B |
| 2023-03-31 | $9.77B | 205 | -12.67% | -7.82% | -4.85% | +0.54B |
| 2022-12-31 | $8.73B | 201 | +6.75% | +7.56% | -0.81% | -0.29B |
| 2022-09-30 | $8.45B | 209 | -10.29% | -4.93% | -5.36% | -0.69B |
| 2022-06-30 | $10.19B | 209 | -13.76% | -16.11% | +2.35% | -1.47B |