Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.21%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.28%
baseline attrition
Rally response
-1.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.47B | 4.9% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $1.30B | 4.4% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $956M | 3.2% | -0.6% | 10.5 yr |
| EWYiShares MSCI South Korea | $763M | 2.6% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $703M | 2.4% | +9.5% | 10.5 yr |
| EWTiShares MSCI Taiwan ETF | $681M | 2.3% | — | 9.8 yr |
| GOOGLAlphabet Inc. | $570M | 1.9% | — | 10.5 yr |
| VTIVanguard Total Stock Mar | $526M | 1.8% | — | 10.5 yr |
| AVGOBroadcom Inc. | $506M | 1.7% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $473M | 1.6% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $430M | 1.4% | -0.4% | 10.5 yr |
| INDAiShares MSCI India ETF | $414M | 1.4% | — | 10.5 yr |
| TSMTaiwan Semiconductor Man | $360M | 1.2% | +105.6% | 0.5 yr |
| TSLATesla, Inc. | $357M | 1.2% | +43.4% | 5.5 yr |
| PLDPrologis, Inc. | $341M | 1.1% | +22.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.0%-1.8pp$4.75B
Semiconductors11.1%+4.4pp$3.30B
Internet Content & Information5.2%+0.8pp$1.54B
Software - Infrastructure4.6%-0.5pp$1.36B
Consumer Electronics4.4%-0.2pp$1.30B
Banks - Diversified3.5%+0.3pp$1.04B
Drug Manufacturers - General3.4%+0.3pp$1.01B
Specialty Retail3.0%-0.2pp$891M
Asset Management - Bonds2.1%-1.5pp$623M
Software - Application1.8%-0.6pp$534M
Country
US89.9%-1.5pp
CA4.6%+0.9pp
TW1.2%
IE1.1%-0.2pp
GB0.7%-0.0pp
CH0.6%+0.1pp
Unknown0.5%-0.2pp
SG0.4%+0.1pp
Top 5: 17.4% · Top 10: 26.7% · Top 25: 41.6%
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactu | +$117M |
| AZN AstraZeneca PLCnew | +$51M |
| PLD Prologis, Inc. | +$28M |
| VRT Vertiv Holdings Co | +$21M |
| JNJ Johnson & Johnson | +$17M |
| ALC Alcon Inc. | +$17M |
| SUNB Sunbelt Rentals Holdings Incnew | +$13M |
| UNH UnitedHealth Group Incorporate | +$13M |
| AVB AvalonBay Communities, Inc. | +$10M |
| AMZN Amazon.com, Inc. | +$703M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $29.75B | 1721 | +19.11% | +17.59% | +1.52% | -0.51B |
| 2025-12-31 | $31.27B | 1726 | +17.89% | +17.72% | +0.17% | +0.42B |
| 2025-09-30 | $30.03B | 1727 | +16.56% | +17.52% | -0.96% | -0.13B |
| 2025-06-30 | $27.96B | 1722 | +15.29% | +14.94% | +0.35% | -0.99B |
| 2025-03-31 | $26.07B | 1719 | +5.16% | +8.30% | -3.14% | -0.32B |
| 2024-12-31 | $27.55B | 1737 | +18.77% | +24.89% | -6.12% | -1.33B |
| 2024-09-30 | $28.44B | 1715 | +30.95% | +36.04% | -5.09% | -0.59B |
| 2024-06-30 | $27.20B | 1711 | +17.83% | +24.49% | -6.66% | -0.19B |
| 2024-03-31 | $27.04B | 1684 | +25.14% | +29.62% | -4.49% | -0.56B |
| 2023-12-31 | $25.51B | 1656 | +23.32% | +26.18% | -2.86% | -2.21B |
| 2023-09-30 | $24.76B | 1598 | +17.72% | +21.57% | -3.85% | +1.81B |
| 2023-06-30 | $23.89B | 1707 | +16.68% | +19.42% | -2.74% | -0.33B |
| 2023-03-31 | $22.52B | 1654 | -7.58% | -7.82% | +0.24% | -0.32B |
| 2022-12-31 | $21.42B | 1624 | +6.88% | +7.56% | -0.68% | -0.77B |
| 2022-09-30 | $20.76B | 1739 | -4.80% | -4.93% | +0.13% | +0.25B |
| 2022-06-30 | $21.55B | 1640 | -14.79% | -16.11% | +1.32% | -0.59B |