Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.00%
baseline attrition
Rally response
-8.58%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $112M | 8.9% | +9.5% | 2.8 yr |
| LLYEli Lilly and Company | $105M | 8.4% | +12.2% | 3.8 yr |
| NFLXNetflix, Inc. | $99M | 7.9% | +3.1% | 10.5 yr |
| GOOGLAlphabet Inc. | $85M | 6.8% | — | 10.5 yr |
| NVDANVIDIA Corporation | $84M | 6.7% | +60.9% | 1.5 yr |
| METAMeta Platforms, Inc. | $81M | 6.5% | -0.4% | 10.3 yr |
| UBERUber Technologies, Inc. | $77M | 6.1% | -1.3% | 6.0 yr |
| CCitigroup Inc. | $75M | 6.0% | +63.9% | 4.8 yr |
| WFCWells Fargo & Company | $75M | 6.0% | +13.3% | 2.0 yr |
| GMGeneral Motors Company | $64M | 5.1% | +60.0% | 5.5 yr |
| BABAAlibaba Group Holding Li | $58M | 4.6% | -3.5% | 2.8 yr |
| HDThe Home Depot, Inc. | $53M | 4.2% | -8.0% | 1.8 yr |
| MSMorgan Stanley | $46M | 3.7% | +44.8% | 2.8 yr |
| BACBank of America Corporat | $46M | 3.6% | +19.4% | 7.5 yr |
| MAMastercard Incorporated | $44M | 3.5% | -8.5% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified15.6%+7.5pp$196M
Specialty Retail13.8%+6.5pp$172M
Internet Content & Information13.3%-3.8pp$167M
Drug Manufacturers - General8.7%-5.2pp$109M
Entertainment7.9%+0.0pp$99M
Semiconductors6.7%-1.3pp$84M
Software - Application6.1%+1.4pp$77M
Financial - Credit Services5.7%+5.4pp$71M
Auto - Manufacturers5.1%+4.9pp$64M
Airlines, Airports & Air Services5.0%+1.4pp$63M
Country
US91.7%-4.3pp
CN4.6%
IE2.6%-0.3pp
MX0.9%+0.1pp
Unknown0.2%+0.1pp
Top 5: 38.7% · Top 10: 68.5% · Top 25: 98.4%
Top buys this quarter · 13
| AMZN Amazon.com, Inc. | +$35M |
| NFLX Netflix, Inc. | +$33M |
| UBER Uber Technologies, Inc. | +$33M |
| NVDA NVIDIA Corporation | +$31M |
| LUV Southwest Airlines Co. | +$18M |
| C Citigroup Inc. | +$18M |
| BABA Alibaba Group Holding Limited | +$14M |
| GM General Motors Company | +$12M |
| HD The Home Depot, Inc. | +$9M |
| MS Morgan Stanley | +$6M |
Top sells this quarter · 14
| JNJ Johnson & Johnson | −$52M |
| LLY Eli Lilly and Company | −$25M |
| META Meta Platforms, Inc. | −$23M |
| MSFT Microsoft Corporation | −$19M |
| MA Mastercard Incorporated | −$15M |
| COF Capital One Financial Corporat | −$7M |
| DHR Danaher Corporation | −$1M |
| BAC Bank of America Corporation | −$1M |
| NVO Novo Nordisk A/Sexit | −$1M |
| AZO AutoZone, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.25B | 33 | +19.39% | +17.59% | +1.80% | -0.00B |
| 2025-12-31 | $1.36B | 31 | +29.78% | +17.72% | +12.06% | -0.01B |
| 2025-09-30 | $1.29B | 34 | +30.26% | +17.52% | +12.75% | -0.03B |
| 2025-06-30 | $1.22B | 38 | +23.12% | +14.94% | +8.18% | +0.11B |
| 2025-03-31 | $978M | 41 | +11.02% | +8.30% | +2.72% | -0.00B |
| 2024-12-31 | $980M | 26 | +27.47% | +24.89% | +2.59% | -0.08B |
| 2024-09-30 | $990M | 25 | +43.48% | +36.04% | +7.44% | -0.05B |
| 2024-06-30 | $1.01B | 26 | +27.57% | +24.49% | +3.08% | +0.04B |
| 2024-03-31 | $955M | 25 | +44.87% | +29.62% | +15.25% | +0.19B |
| 2023-12-31 | $661M | 25 | +50.67% | +26.18% | +24.49% | -0.09B |
| 2023-09-30 | $626M | 26 | +36.09% | +21.57% | +14.53% | +0.09B |
| 2023-06-30 | $589M | 26 | +34.54% | +19.42% | +15.11% | +0.01B |
| 2023-03-31 | $504M | 26 | -21.11% | -7.82% | -13.30% | -0.03B |
| 2022-12-31 | $444M | 30 | +8.46% | +7.56% | +0.90% | -0.03B |
| 2022-09-30 | $435M | 28 | -10.28% | -4.93% | -5.35% | +0.25B |
| 2022-06-30 | $207M | 20 | -32.23% | -16.11% | -16.12% | -0.02B |