Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.53%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.21%
baseline attrition
Rally response
+5.99%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.59B | 7.8% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $1.09B | 5.3% | +14.7% | 11.3 yr |
| MSFTMicrosoft Corporation | $1.01B | 5.0% | -0.6% | 11.3 yr |
| GOOGLAlphabet Inc. | $673M | 3.3% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $501M | 2.5% | +9.5% | 11.3 yr |
| GOOGAlphabet Inc. | $492M | 2.4% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $446M | 2.2% | -0.4% | 11.3 yr |
| AVGOBroadcom Inc. | $404M | 2.0% | +86.0% | 8.0 yr |
| TSLATesla, Inc. | $345M | 1.7% | +43.4% | 5.8 yr |
| VZVerizon Communications I | $319M | 1.6% | +16.5% | 11.3 yr |
| LLYEli Lilly and Company | $311M | 1.5% | +12.2% | 11.0 yr |
| JNJJohnson & Johnson | $305M | 1.5% | +51.5% | 11.3 yr |
| MOAltria Group, Inc. | $270M | 1.3% | +15.8% | 11.3 yr |
| PFEPfizer Inc. | $206M | 1.0% | +18.8% | 11.3 yr |
| VVisa Inc. | $199M | 1.0% | -13.1% | 11.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.4%+4.0pp$2.92B
Internet Content & Information8.0%+2.4pp$1.63B
Software - Infrastructure6.8%-1.1pp$1.39B
Drug Manufacturers - General6.7%-0.5pp$1.37B
Consumer Electronics5.3%-0.1pp$1.09B
Specialty Retail3.4%-0.4pp$683M
Asset Management2.3%-2.4pp$470M
Telecommunications Services2.3%-0.2pp$460M
Banks - Diversified2.2%+0.3pp$457M
Financial - Credit Services2.2%+0.4pp$455M
Country
US97.5%+2.2pp
CA1.8%+0.5pp
Unknown0.3%-0.0pp
UY0.1%-0.1pp
GB0.1%-0.4pp
CN0.1%+0.1pp
IE0.1%-1.8pp
BM0.0%-0.0pp
Top 5: 23.9% · Top 10: 33.7% · Top 25: 47.7%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$213M |
| AAPL Apple Inc. | +$103M |
| MU Micron Technology, Inc. | +$79M |
| WDAY Workday, Inc. | +$76M |
| MSFT Microsoft Corporation | +$1.01B |
| URI United Rentals, Inc. | +$48M |
| AMZN Amazon.com, Inc. | +$501M |
| AVGO Broadcom Inc. | +$43M |
| MA Mastercard Incorporated | +$43M |
| META Meta Platforms, Inc. | +$446M |
Top sells this quarter · 15
| MDT Medtronic plcexit | −$68M |
| ACN Accenture plcexit | −$66M |
| LIN Linde plcexit | −$64M |
| LYB LyondellBasell Industries N.V.exit | −$52M |
| ETN Eaton Corporation plcexit | −$43M |
| STX Seagate Technology Holdings plexit | −$34M |
| TT Trane Technologies plcexit | −$28M |
| RCL Royal Caribbean Cruises Ltd.exit | −$20M |
| JCI Johnson Controls Internationalexit | −$17M |
| CB Chubb Limitedexit | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $20.35B | 1478 | +18.19% | +17.59% | +0.59% | +1.51B |
| 2025-12-31 | $19.61B | 1379 | +17.90% | +17.72% | +0.18% | +0.06B |
| 2025-09-30 | $19.21B | 1190 | +18.36% | +17.52% | +0.84% | +0.86B |
| 2025-06-30 | $16.96B | 873 | +17.38% | +14.94% | +2.44% | +1.60B |
| 2025-03-31 | $13.75B | 705 | +7.54% | +8.30% | -0.77% | +0.76B |
| 2024-12-31 | $13.55B | 706 | +19.65% | +24.89% | -5.23% | +4.56B |
| 2024-09-30 | $8.80B | 628 | +29.02% | +36.04% | -7.01% | -0.31B |
| 2024-06-30 | $8.48B | 585 | +13.47% | +24.49% | -11.03% | +1.12B |
| 2024-03-31 | $7.19B | 531 | +17.87% | +29.62% | -11.75% | -1.68B |
| 2023-12-31 | $8.32B | 629 | +17.95% | +26.18% | -8.22% | +1.20B |
| 2023-09-30 | $6.46B | 621 | +12.44% | +21.57% | -9.12% | +0.08B |
| 2023-06-30 | $6.76B | 608 | +15.09% | +19.42% | -4.33% | -0.30B |
| 2023-03-31 | $6.65B | 605 | -6.13% | -7.82% | +1.69% | +0.25B |
| 2022-12-31 | $5.99B | 595 | -16.11% | -18.17% | +2.07% | -0.09B |
| 2022-09-30 | $5.79B | 575 | -11.31% | -15.51% | +4.20% | -0.19B |
| 2022-06-30 | $6.18B | 636 | -7.68% | -10.62% | +2.94% | +0.01B |