Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.16%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.97%
baseline attrition
Rally response
-5.07%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $1.18B | 4.0% | -0.6% | 5.5 yr |
| NVDANVIDIA Corporation | $1.01B | 3.5% | +60.9% | 5.5 yr |
| AMZNAmazon.com, Inc. | $781M | 2.7% | +9.5% | 5.5 yr |
| WMWaste Management, Inc. | $673M | 2.3% | +0.8% | 5.5 yr |
| GOOGLAlphabet Inc. | $621M | 2.1% | — | 5.5 yr |
| CMECME Group Inc. | $598M | 2.1% | +15.6% | 5.5 yr |
| UBSUBS Group AG | $581M | 2.0% | +31.6% | 5.0 yr |
| KOThe Coca-Cola Company | $538M | 1.9% | +9.3% | 5.5 yr |
| AVGOBroadcom Inc. | $502M | 1.7% | +86.0% | 5.5 yr |
| BSXBoston Scientific Corpor | $501M | 1.7% | -37.8% | 5.5 yr |
| AAPLApple Inc. | $479M | 1.6% | +14.7% | 5.5 yr |
| MAMastercard Incorporated | $469M | 1.6% | -8.5% | 5.5 yr |
| NFLXNetflix, Inc. | $464M | 1.6% | +3.1% | 5.5 yr |
| LOGILogitech International S | $439M | 1.5% | +9.5% | 5.0 yr |
| GOOGAlphabet Inc. | $438M | 1.5% | +84.3% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors9.6%+4.3pp$2.80B
Software - Infrastructure7.1%-0.8pp$2.06B
Specialty Retail5.7%-0.2pp$1.67B
Internet Content & Information5.3%+0.8pp$1.55B
Software - Application4.3%-1.2pp$1.24B
Asset Management4.0%+1.2pp$1.15B
Financial - Data & Stock Exchanges3.6%-1.3pp$1.06B
Medical - Devices3.3%-1.5pp$961M
Drug Manufacturers - General2.9%+0.6pp$845M
Entertainment2.7%+2.4pp$788M
Country
US79.9%-1.1pp
CH5.1%-0.6pp
IE3.5%+1.2pp
Unknown2.5%-1.3pp
GB2.3%+0.0pp
TW1.3%+0.3pp
CA1.3%+0.6pp
NL0.9%+0.6pp
Top 5: 14.6% · Top 10: 24.0% · Top 25: 44.5%
Top buys this quarter · 15
| BSX Boston Scientific Corporation | +$264M |
| CTAS Cintas Corporation | +$222M |
| NFLX Netflix, Inc. | +$195M |
| KMI Kinder Morgan, Inc. | +$188M |
| NVDA NVIDIA Corporation | +$174M |
| ALLE Allegion plc | +$154M |
| EMR Emerson Electric Co. | +$145M |
| INTU Intuit Inc. | +$373M |
| STLA Stellantis N.V. | +$91M |
| CME CME Group Inc. | +$83M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$540M |
| FERG Ferguson plc | −$202M |
| AMZN Amazon.com, Inc. | −$188M |
| VMC Vulcan Materials Company | −$158M |
| CASY Casey's General Stores, Inc. | −$139M |
| ADBE Adobe Inc. | −$115M |
| TSM Taiwan Semiconductor Manufactu | −$101M |
| META Meta Platforms, Inc. | −$93M |
| APH Amphenol Corporation | −$91M |
| KO The Coca-Cola Company | −$76M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $29.07B | 1183 | +8.87% | +17.59% | -8.72% | +0.62B |
| 2025-12-31 | $30.32B | 1163 | +13.74% | +17.72% | -3.98% | -1.81B |
| 2025-09-30 | $31.84B | 1140 | +11.00% | +17.52% | -6.51% | +0.07B |
| 2025-06-30 | $30.40B | 1098 | +12.20% | +14.94% | -2.74% | +0.24B |
| 2025-03-31 | $27.42B | 1082 | +3.92% | +8.30% | -4.39% | -1.22B |
| 2024-12-31 | $29.21B | 1083 | +13.81% | +24.89% | -11.08% | -1.29B |
| 2024-09-30 | $30.96B | 1072 | +31.16% | +36.04% | -4.88% | -1.55B |
| 2024-06-30 | $30.78B | 1064 | +19.79% | +24.49% | -4.70% | +18.05B |
| 2024-03-31 | $12.49B | 1081 | +25.19% | +29.62% | -4.44% | -0.31B |
| 2023-12-31 | $11.93B | 1098 | +26.83% | +26.18% | +0.65% | -0.39B |
| 2023-09-30 | $10.85B | 1096 | +21.38% | +21.57% | -0.19% | -0.20B |
| 2023-06-30 | $11.45B | 1132 | +18.34% | +19.42% | -1.08% | -0.05B |
| 2023-03-31 | $10.80B | 1108 | -7.09% | -7.82% | +0.73% | +0.04B |
| 2022-12-31 | $9.90B | 1079 | -18.51% | -18.17% | -0.34% | +0.60B |
| 2022-09-30 | $8.55B | 1025 | -16.70% | -15.51% | -1.19% | -0.15B |
| 2022-06-30 | $9.25B | 1015 | -10.93% | -10.62% | -0.31% | -0.42B |