Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.13%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.92%
steady accumulation
Rally response
-16.38%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.76B | 3.7% | +60.9% | 8.0 yr |
| AAPLApple Inc. | $1.52B | 3.2% | +14.7% | 8.0 yr |
| MSFTMicrosoft Corporation | $1.26B | 2.6% | -0.6% | 8.0 yr |
| GOOGLAlphabet Inc. | $875M | 1.8% | — | 8.0 yr |
| AMZNAmazon.com, Inc. | $774M | 1.6% | +9.5% | 8.0 yr |
| AVGOBroadcom Inc. | $654M | 1.4% | +86.0% | 7.8 yr |
| METAMeta Platforms, Inc. | $605M | 1.3% | -0.4% | 8.0 yr |
| GOOGAlphabet Inc. | $465M | 1.0% | +84.3% | 8.0 yr |
| TELTE Connectivity Ltd. | $419M | 0.9% | +50.0% | 1.5 yr |
| LLYEli Lilly and Company | $388M | 0.8% | +12.2% | 8.0 yr |
| ABBVAbbVie Inc. | $386M | 0.8% | +7.3% | 8.0 yr |
| KGCKinross Gold Corporation | $383M | 0.8% | +143.6% | 6.3 yr |
| MAMastercard Incorporated | $378M | 0.8% | -8.5% | 8.0 yr |
| TSMTaiwan Semiconductor Man | $374M | 0.8% | +105.6% | 7.8 yr |
| COSTCostco Wholesale Corpora | $356M | 0.7% | +5.9% | 8.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors10.3%+4.8pp$4.91B
Internet Content & Information4.9%+0.9pp$2.34B
Software - Application4.4%-0.5pp$2.07B
Software - Infrastructure4.1%-0.6pp$1.94B
Drug Manufacturers - General3.6%-0.4pp$1.74B
Consumer Electronics3.3%+0.8pp$1.56B
Specialty Retail3.0%-0.9pp$1.44B
Gold2.9%+1.7pp$1.40B
Hardware, Equipment & Parts2.7%+1.7pp$1.28B
Biotechnology2.4%+0.6pp$1.12B
Country
US82.7%-4.1pp
CA4.8%+2.4pp
IE2.9%+0.5pp
Unknown1.3%-0.2pp
IN1.0%+0.5pp
CN1.0%-1.5pp
BR0.9%+0.5pp
GB0.9%+0.1pp
Top 5: 13.0% · Top 10: 18.3% · Top 25: 28.4%
Top buys this quarter · 15
| F-PD Ford Motor Company 6.500% Note | +$209M |
| PEP PepsiCo, Inc. | +$176M |
| TEL TE Connectivity Ltd. | +$157M |
| HDB HDFC Bank Limited | +$148M |
| AZN AstraZeneca PLCnew | +$124M |
| MMM 3M Company | +$113M |
| EXPE Expedia Group, Inc. | +$109M |
| EXE Expand Energy Corporation | +$106M |
| B Barrick Mining Corporation | +$99M |
| ACN Accenture plc | +$97M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF exit | −$400M |
| AMZN Amazon.com, Inc. | −$280M |
| NVDA NVIDIA Corporation | −$225M |
| ETN Eaton Corporation plc | −$196M |
| COST Costco Wholesale Corporation | −$161M |
| KEYS Keysight Technologies, Inc. | −$160M |
| BMY Bristol-Myers Squibb Company | −$160M |
| MSI Motorola Solutions, Inc. | −$149M |
| GILD Gilead Sciences, Inc. | −$146M |
| HON Honeywell International Inc. | −$142M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $47.62B | 1977 | +16.38% | +17.59% | -1.21% | -1.73B |
| 2025-12-31 | $51.44B | 1863 | +16.95% | +17.72% | -0.77% | -0.63B |
| 2025-09-30 | $50.92B | 1800 | +16.03% | +17.52% | -1.48% | +2.30B |
| 2025-06-30 | $45.38B | 1796 | +15.76% | +14.94% | +0.82% | +9.41B |
| 2025-03-31 | $32.49B | 1778 | +5.27% | +8.30% | -3.03% | +1.63B |
| 2024-12-31 | $32.00B | 1685 | +18.80% | +24.89% | -6.09% | -2.47B |
| 2024-09-30 | $33.98B | 1676 | +32.34% | +36.04% | -3.70% | -5.33B |
| 2024-06-30 | $36.78B | 1741 | +17.58% | +24.49% | -6.91% | +0.41B |
| 2024-03-31 | $36.13B | 1853 | +23.20% | +29.62% | -6.42% | -0.26B |
| 2023-12-31 | $33.43B | 1782 | +19.69% | +26.18% | -6.49% | -1.59B |
| 2023-09-30 | $30.99B | 1747 | +13.59% | +21.57% | -7.98% | +1.38B |
| 2023-06-30 | $31.18B | 1782 | +15.10% | +19.42% | -4.33% | +2.78B |
| 2023-03-31 | $26.92B | 1887 | -6.65% | -7.82% | +1.17% | -1.26B |
| 2022-12-31 | $26.66B | 1858 | -15.77% | -18.17% | +2.41% | +4.82B |
| 2022-09-30 | $20.36B | 1834 | -12.78% | -15.51% | +2.73% | -0.96B |
| 2022-06-30 | $22.16B | 1848 | -8.84% | -10.62% | +1.78% | -1.18B |