Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.02%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.22%
steady accumulation
Rally response
-0.64%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $142M | 6.7% | +60.9% | 6.8 yr |
| AAPLApple Inc. | $127M | 6.0% | +14.7% | 9.5 yr |
| MSFTMicrosoft Corporation | $91M | 4.3% | -0.6% | 9.5 yr |
| AMZNAmazon.com, Inc. | $79M | 3.7% | +9.5% | 9.3 yr |
| GOOGAlphabet Inc. | $67M | 3.2% | +84.3% | 9.0 yr |
| GOOGLAlphabet Inc. | $57M | 2.7% | — | 8.8 yr |
| AVGOBroadcom Inc. | $44M | 2.1% | +86.0% | 7.0 yr |
| METAMeta Platforms, Inc. | $43M | 2.0% | -0.4% | 9.3 yr |
| TSMTaiwan Semiconductor Man | $32M | 1.5% | +105.6% | 1.0 yr |
| TSLATesla, Inc. | $30M | 1.4% | +43.4% | 5.0 yr |
| JPMJPMorgan Chase & Co. | $29M | 1.4% | +21.8% | 9.0 yr |
| ETEnergy Transfer LP | $27M | 1.3% | +12.1% | 1.3 yr |
| XOMExxon Mobil Corporation | $26M | 1.2% | +47.6% | 9.0 yr |
| LLYEli Lilly and Company | $24M | 1.1% | +12.2% | 8.0 yr |
| BRK-BBerkshire Hathaway Inc. | $24M | 1.1% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.0%+4.6pp$297M
Internet Content & Information7.9%+1.5pp$168M
Asset Management6.5%-0.4pp$138M
Consumer Electronics6.1%-0.8pp$130M
Software - Infrastructure4.9%-1.6pp$104M
Drug Manufacturers - General4.4%-0.5pp$93M
Specialty Retail4.2%-0.3pp$89M
Oil & Gas Midstream3.0%+2.4pp$64M
Banks - Diversified2.9%-0.2pp$62M
Airlines, Airports & Air Services2.4%+1.9pp$50M
Country
US96.0%-3.3pp
MX2.1%+2.0pp
TW1.5%
LU0.3%+0.2pp
Unknown0.1%-0.1pp
Top 5: 23.8% · Top 10: 33.4% · Top 25: 47.8%
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactu | +$15M |
| CSWC Capital Southwest Corporationnew | +$14M |
| ET Energy Transfer LP | +$13M |
| PAC Grupo Aeroportuario del PacÃf | +$11M |
| WES Western Midstream Partners, LP | +$8M |
| OMAB Grupo Aeroportuario del Centro | +$8M |
| SFM Sprouts Farmers Market, Inc. | +$8M |
| ASR Grupo Aeroportuario del Surestnew | +$8M |
| AMZN Amazon.com, Inc. | +$79M |
| AX Axos Financial, Inc. | +$7M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$48M |
| CAAP Corporación América Airportsexit | −$6M |
| CPA Copa Holdings, S.A.exit | −$4M |
| FTI TechnipFMC plcexit | −$2M |
| TIGO Millicom International Cellulaexit | −$1M |
| DEO Diageo plcexit | −$1M |
| GTES Gates Industrial Corporation pexit | −$1M |
| AZO AutoZone, Inc. | −$1M |
| DLO DLocal Limitedexit | −$1M |
| PSMT PriceSmart, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.13B | 483 | +20.32% | +17.59% | +2.72% | +0.11B |
| 2025-12-31 | $2.10B | 481 | +18.40% | +17.72% | +0.68% | -0.08B |
| 2025-09-30 | $2.10B | 506 | +17.04% | +17.52% | -0.47% | +0.03B |
| 2025-06-30 | $1.91B | 508 | +13.82% | +14.94% | -1.13% | +0.07B |
| 2025-03-31 | $1.66B | 504 | +5.19% | +8.30% | -3.12% | +0.01B |
| 2024-12-31 | $1.73B | 500 | +20.28% | +24.89% | -4.61% | -0.03B |
| 2024-09-30 | $1.72B | 502 | +31.18% | +36.04% | -4.85% | +0.03B |
| 2024-06-30 | $1.60B | 502 | +20.30% | +24.49% | -4.19% | -0.07B |
| 2024-03-31 | $1.63B | 514 | +26.17% | +29.62% | -3.45% | +0.07B |
| 2023-12-31 | $1.43B | 513 | +24.48% | +26.18% | -1.70% | -0.08B |
| 2023-09-30 | $1.36B | 509 | +19.90% | +21.57% | -1.66% | +0.11B |
| 2023-06-30 | $1.29B | 508 | +18.48% | +19.42% | -0.95% | +0.14B |
| 2023-03-31 | $1.07B | 495 | -5.21% | -7.82% | +2.61% | +0.03B |
| 2022-12-31 | $965M | 492 | +7.47% | +7.56% | -0.09% | +0.06B |
| 2022-09-30 | $842M | 479 | -4.41% | -4.93% | +0.52% | +0.09B |
| 2022-06-30 | $784M | 465 | -13.87% | -16.11% | +2.24% | +0.02B |