Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.48%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.61%
steady accumulation
Rally response
-3.64%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-ABerkshire Hathaway Inc. | $264.60B | 88.4% | — | 2.0 yr |
| NVDANVIDIA Corporation | $2.60B | 0.9% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $1.91B | 0.6% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $1.75B | 0.6% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $1.43B | 0.5% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.12B | 0.4% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $1.04B | 0.3% | +86.0% | 8.0 yr |
| TSLATesla, Inc. | $801M | 0.3% | +43.4% | 9.5 yr |
| METAMeta Platforms, Inc. | $763M | 0.3% | -0.4% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $681M | 0.2% | — | 10.5 yr |
| MUMicron Technology, Inc. | $384M | 0.1% | +289.6% | 9.3 yr |
| NFLXNetflix, Inc. | $372M | 0.1% | +3.1% | 10.5 yr |
| WMTWalmart Inc. | $338M | 0.1% | +42.8% | 10.5 yr |
| AMDAdvanced Micro Devices, | $309M | 0.1% | +98.0% | 8.0 yr |
| TXNTexas Instruments Incorp | $275M | 0.1% | +11.4% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Insurance - Diversified88.4%+87.9pp$264.62B
Semiconductors2.3%-13.2pp$6.74B
Asset Management1.6%-19.1pp$4.67B
Internet Content & Information0.9%-5.1pp$2.62B
Software - Infrastructure0.7%-5.8pp$2.11B
Consumer Electronics0.6%-4.8pp$1.91B
Specialty Retail0.5%-3.8pp$1.37B
Drug Manufacturers - General0.4%-3.5pp$1.26B
Auto - Manufacturers0.3%-1.7pp$863M
Asset Management - Bonds0.2%-2.8pp$734M
Country
US99.6%+4.7pp
IE0.1%-0.3pp
GB0.1%-0.5pp
NL0.0%-0.6pp
CN0.0%-0.0pp
SG0.0%-0.0pp
CH0.0%-0.3pp
UY0.0%-0.3pp
Top 5: 91.0% · Top 10: 92.4% · Top 25: 93.9%
Top buys this quarter · 15
| WMT Walmart Inc. | +$219M |
| QCOM QUALCOMM Incorporated | +$114M |
| PG The Procter & Gamble Company | +$110M |
| NVDA NVIDIA Corporation | +$2.60B |
| ABT Abbott Laboratories | +$103M |
| UNH UnitedHealth Group Incorporate | +$93M |
| ACN Accenture plc | +$90M |
| TSLA Tesla, Inc. | +$801M |
| AAPL Apple Inc. | +$1.91B |
| NFLX Netflix, Inc. | +$65M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$442M |
| TSM Taiwan Semiconductor Manufactu | −$377M |
| ASML ASML Holding N.V. | −$202M |
| ABBV AbbVie Inc. | −$78M |
| CSCO Cisco Systems, Inc. | −$74M |
| VLO Valero Energy Corporation | −$66M |
| SHOP Shopify Inc. | −$62M |
| RRX Regal Rexnord Corporation | −$55M |
| AMD Advanced Micro Devices, Inc. | −$53M |
| MU Micron Technology, Inc. | −$358M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $299.30B | 1563 | +27.83% | +17.59% | +10.24% | +264.48B |
| 2025-12-31 | $36.02B | 1639 | +22.80% | +17.72% | +5.08% | +3.11B |
| 2025-09-30 | $31.87B | 1638 | +22.58% | +17.52% | +5.07% | +0.03B |
| 2025-06-30 | $28.68B | 1576 | +14.71% | +14.94% | -0.23% | +0.67B |
| 2025-03-31 | $24.29B | 1513 | +1.68% | +8.30% | -6.63% | +1.42B |
| 2024-12-31 | $24.62B | 1581 | +17.51% | +24.89% | -7.37% | +1.34B |
| 2024-09-30 | $22.59B | 1541 | +28.90% | +36.04% | -7.13% | +1.75B |
| 2024-06-30 | $20.06B | 1514 | +19.90% | +24.49% | -4.60% | -26.99B |
| 2024-03-31 | $46.03B | 2402 | +27.88% | +29.62% | -1.74% | -6.75B |
| 2023-12-31 | $49.16B | 2513 | +32.61% | +26.18% | +6.43% | -2.14B |
| 2023-09-30 | $45.38B | 2561 | +20.55% | +21.57% | -1.02% | +0.21B |
| 2023-06-30 | $46.74B | 2596 | +21.15% | +19.42% | +1.73% | -0.04B |
| 2023-03-31 | $42.91B | 2518 | -12.29% | -7.82% | -4.47% | +0.13B |
| 2022-12-31 | $38.42B | 2521 | -24.86% | -18.17% | -6.68% | +0.24B |
| 2022-09-30 | $37.15B | 2578 | -18.79% | -15.51% | -3.28% | -1.01B |
| 2022-06-30 | $39.30B | 2379 | -15.90% | -10.62% | -5.28% | +1.69B |