Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.49%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.80%
steady accumulation
Rally response
-6.38%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $1.21B | 9.2% | -0.6% | 18.3 yr |
| NVDANVIDIA Corporation | $1.18B | 8.9% | +60.9% | 9.3 yr |
| GOOGLAlphabet Inc. | $730M | 5.5% | — | 10.8 yr |
| METAMeta Platforms, Inc. | $707M | 5.3% | -0.4% | 8.5 yr |
| MUMicron Technology, Inc. | $601M | 4.5% | +289.6% | 5.3 yr |
| LLYEli Lilly and Company | $482M | 3.6% | +12.2% | 3.5 yr |
| AVGOBroadcom Inc. | $464M | 3.5% | +86.0% | 8.0 yr |
| AAPLApple Inc. | $450M | 3.4% | +14.7% | 13.3 yr |
| AMZNAmazon.com, Inc. | $437M | 3.3% | +9.5% | 9.5 yr |
| AEMAgnico Eagle Mines Limit | $374M | 2.8% | +89.2% | 5.3 yr |
| JPMJPMorgan Chase & Co. | $332M | 2.5% | +21.8% | 18.3 yr |
| PANWPalo Alto Networks, Inc. | $302M | 2.3% | -6.0% | 5.3 yr |
| AMATApplied Materials, Inc. | $293M | 2.2% | +137.6% | 9.8 yr |
| NOWServiceNow, Inc. | $283M | 2.1% | -34.3% | 7.5 yr |
| BACBank of America Corporat | $283M | 2.1% | +19.4% | 13.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.8%+0.4pp$2.75B
Software - Infrastructure15.8%+3.1pp$2.10B
Internet Content & Information10.9%+4.0pp$1.44B
Drug Manufacturers - General9.9%-1.0pp$1.32B
Software - Application6.9%-2.5pp$919M
Banks - Diversified4.6%+2.0pp$615M
Medical - Devices4.5%-1.8pp$602M
Gold3.7%+2.0pp$489M
Specialty Retail3.5%+0.8pp$461M
Consumer Electronics3.4%+0.4pp$450M
Country
US94.5%-0.9pp
CA3.7%+3.7pp
GB1.6%-0.2pp
IE0.2%-0.1pp
Top 5: 33.5% · Top 10: 50.2% · Top 25: 78.6%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$288M |
| PWR Quanta Services, Inc. | +$197M |
| LLY Eli Lilly and Company | +$191M |
| AEM Agnico Eagle Mines Limited | +$157M |
| AAPL Apple Inc. | +$113M |
| WDC Western Digital Corporation | +$92M |
| NFLX Netflix, Inc. | +$67M |
| AMZN Amazon.com, Inc. | +$62M |
| BAC Bank of America Corporation | +$60M |
| PANW Palo Alto Networks, Inc. | +$57M |
Top sells this quarter · 15
| XOM Exxon Mobil Corporation | −$165M |
| MCO Moody's Corporationexit | −$131M |
| NXPI NXP Semiconductors N.V.exit | −$116M |
| ADBE Adobe Inc.exit | −$103M |
| B Barrick Mining Corporation | −$93M |
| MRK Merck & Co., Inc. | −$63M |
| SNPS Synopsys, Inc. | −$59M |
| NEE NextEra Energy, Inc. | −$46M |
| DOV Dover Corporation | −$21M |
| GILD Gilead Sciences, Inc. | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $13.23B | 70 | +21.87% | +17.59% | +4.28% | +0.64B |
| 2025-12-31 | $13.61B | 73 | +21.83% | +17.72% | +4.11% | +0.52B |
| 2025-09-30 | $12.47B | 77 | +17.64% | +17.52% | +0.12% | +0.28B |
| 2025-06-30 | $11.57B | 86 | +14.20% | +14.94% | -0.74% | +1.09B |
| 2025-03-31 | $8.81B | 86 | -2.97% | +8.30% | -11.27% | +1.35B |
| 2024-12-31 | $8.05B | 82 | +13.70% | +24.89% | -11.19% | +0.65B |
| 2024-09-30 | $7.31B | 83 | +30.10% | +36.04% | -5.93% | +0.91B |
| 2024-06-30 | $6.25B | 84 | +19.40% | +24.49% | -5.09% | +0.48B |
| 2024-03-31 | $5.70B | 78 | +26.26% | +29.62% | -3.36% | +0.15B |
| 2023-12-31 | $5.12B | 75 | +26.72% | +26.18% | +0.54% | -0.00B |
| 2023-09-30 | $4.42B | 79 | +18.55% | +21.57% | -3.02% | +0.45B |
| 2023-06-30 | $4.22B | 85 | +18.04% | +19.42% | -1.38% | +0.08B |
| 2023-03-31 | $3.87B | 94 | -6.32% | -7.82% | +1.50% | +0.11B |
| 2022-12-31 | $3.46B | 84 | +8.50% | +7.56% | +0.94% | -0.26B |
| 2022-09-30 | $3.43B | 78 | -6.53% | -4.93% | -1.60% | -0.70B |
| 2022-06-30 | $4.42B | 99 | -15.13% | -16.11% | +0.98% | -0.53B |