Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.39%
adds when stocks drop
when a holding falls −10%+
Middle response
+5.98%
steady accumulation
Rally response
+5.89%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $3.07B | 4.4% | — | 9.3 yr |
| AAPLApple Inc. | $2.38B | 3.4% | +14.7% | 9.3 yr |
| NVDANVIDIA Corporation | $2.27B | 3.2% | +60.9% | 8.8 yr |
| IVViShares Core S&P 500 ETF | $1.74B | 2.5% | — | 8.8 yr |
| MSFTMicrosoft Corporation | $1.52B | 2.2% | -0.6% | 9.5 yr |
| SPYState Street SPDR S&P 50 | $1.40B | 2.0% | +17.6% | 8.3 yr |
| VEAVanguard FTSE Developed | $1.31B | 1.9% | — | 9.3 yr |
| AMZNAmazon.com, Inc. | $1.03B | 1.5% | +9.5% | 9.0 yr |
| IEFAiShares Core MSCI EAFE E | $1.03B | 1.5% | — | 8.3 yr |
| GOOGLAlphabet Inc. | $1.02B | 1.4% | — | 8.3 yr |
| GOOGAlphabet Inc. | $974M | 1.4% | +84.3% | 8.5 yr |
| AVGOBroadcom Inc. | $934M | 1.3% | +86.0% | 7.8 yr |
| PGThe Procter & Gamble Com | $895M | 1.3% | -12.9% | 9.3 yr |
| AGGiShares Core U.S. Aggreg | $884M | 1.3% | — | 5.5 yr |
| QUALiShares MSCI USA Quality | $767M | 1.1% | — | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management44.0%+3.1pp$30.92B
Semiconductors6.5%+1.8pp$4.58B
Internet Content & Information3.9%+0.4pp$2.76B
Consumer Electronics3.4%-0.5pp$2.40B
Software - Infrastructure3.3%-0.7pp$2.33B
Drug Manufacturers - General3.0%-0.2pp$2.08B
Asset Management - Bonds2.7%+0.1pp$1.88B
Specialty Retail1.9%-0.2pp$1.30B
Banks - Diversified1.8%+0.2pp$1.29B
Household & Personal Products1.4%-1.2pp$1.00B
Country
US96.7%+0.1pp
IE0.5%-0.1pp
GB0.5%-0.1pp
CH0.4%-0.1pp
TW0.3%+0.1pp
CA0.3%+0.0pp
Unknown0.3%+0.1pp
NL0.2%+0.1pp
Top 5: 15.6% · Top 10: 23.9% · Top 25: 37.9%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$1.52B |
| NVDA NVIDIA Corporation | +$2.27B |
| AAPL Apple Inc. | +$2.38B |
| META Meta Platforms, Inc. | +$688M |
| AZN AstraZeneca PLCnew | +$59M |
| SPY State Street SPDR S&P 500 ETF | +$1.40B |
| AMZN Amazon.com, Inc. | +$1.03B |
| SCHW The Charles Schwab Corporation | +$28M |
| COST Costco Wholesale Corporation | +$28M |
| TSM Taiwan Semiconductor Manufactu | +$24M |
Top sells this quarter · 15
| CACC Credit Acceptance Corporation | −$332M |
| TJX The TJX Companies, Inc. | −$229M |
| TSLA Tesla, Inc. | −$174M |
| TMO Thermo Fisher Scientific Inc. | −$103M |
| TER Teradyne, Inc. | −$76M |
| TXN Texas Instruments Incorporated | −$68M |
| PM Philip Morris International In | −$52M |
| TDW Tidewater Inc. | −$50M |
| PFE Pfizer Inc. | −$42M |
| PNC The PNC Financial Services Gro | −$41M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $70.24B | 3074 | +16.16% | +17.59% | -1.43% | +4.58B |
| 2025-12-31 | $68.31B | 2831 | +16.77% | +17.72% | -0.95% | +5.26B |
| 2025-09-30 | $61.66B | 2736 | +15.73% | +17.52% | -1.79% | +1.35B |
| 2025-06-30 | $56.04B | 2612 | +13.34% | +14.94% | -1.60% | +2.62B |
| 2025-03-31 | $48.65B | 2466 | +4.98% | +8.30% | -3.32% | +4.11B |
| 2024-12-31 | $46.10B | 2413 | +17.61% | +24.89% | -7.28% | +0.33B |
| 2024-09-30 | $45.16B | 2525 | +27.89% | +36.04% | -8.14% | +6.46B |
| 2024-06-30 | $36.72B | 2203 | +16.63% | +24.49% | -7.87% | -1.79B |
| 2024-03-31 | $37.86B | 2276 | +24.71% | +29.62% | -4.91% | +7.19B |
| 2023-12-31 | $28.34B | 1804 | +20.74% | +26.18% | -5.44% | +5.69B |
| 2023-09-30 | $20.55B | 1376 | +19.13% | +21.57% | -2.44% | -4.13B |
| 2023-06-30 | $25.68B | 1615 | +14.59% | +19.42% | -4.83% | +1.00B |
| 2023-03-31 | $22.69B | 1540 | -9.23% | -7.82% | -1.41% | +7.07B |
| 2022-12-31 | $14.90B | 1455 | -17.39% | -18.17% | +0.79% | +5.86B |
| 2022-09-30 | $8.32B | 1172 | -15.62% | -15.51% | -0.11% | +0.47B |
| 2022-06-30 | $8.49B | 1177 | -8.20% | -10.62% | +2.42% | +2.97B |