Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.44%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.41%
steady accumulation
Rally response
-0.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $2.54B | 4.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $2.14B | 3.3% | -0.6% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $1.97B | 3.1% | +21.8% | 10.5 yr |
| GOOGAlphabet Inc. | $1.94B | 3.0% | +84.3% | 10.5 yr |
| VEAVanguard FTSE Developed | $1.38B | 2.2% | — | 10.5 yr |
| IWDiShares Russell 1000 Val | $1.29B | 2.0% | — | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $1.28B | 2.0% | — | 10.5 yr |
| GEVGE Vernova Inc. | $1.20B | 1.9% | +186.8% | 2.0 yr |
| IWFiShares Russell 1000 Gro | $1.20B | 1.9% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.14B | 1.8% | +9.5% | 10.5 yr |
| JNJJohnson & Johnson | $1.11B | 1.7% | +51.5% | 10.5 yr |
| GEGE Aerospace | $988M | 1.5% | +42.5% | 4.8 yr |
| HDThe Home Depot, Inc. | $959M | 1.5% | -8.0% | 10.5 yr |
| METAMeta Platforms, Inc. | $954M | 1.5% | -0.4% | 10.5 yr |
| IWRiShares Russell Mid-Cap | $872M | 1.4% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management26.6%+2.0pp$17.02B
Internet Content & Information5.5%+1.3pp$3.49B
Banks - Diversified4.6%+0.3pp$2.94B
Semiconductors4.4%+1.3pp$2.79B
Consumer Electronics4.0%-0.1pp$2.54B
Software - Infrastructure3.8%-0.8pp$2.45B
Drug Manufacturers - General3.5%+0.1pp$2.24B
Specialty Retail3.4%+0.4pp$2.16B
Asset Management - Bonds3.1%+0.7pp$1.98B
Aerospace & Defense2.5%+0.6pp$1.59B
Country
US95.4%-0.4pp
IE1.7%+0.2pp
CA0.8%+0.1pp
TW0.5%+0.3pp
Unknown0.3%+0.1pp
GB0.3%+0.0pp
CN0.3%+0.1pp
NL0.3%+0.1pp
Top 5: 15.6% · Top 10: 25.1% · Top 25: 44.3%
Top buys this quarter · 15
| UBER Uber Technologies, Inc. | +$340M |
| AMZN Amazon.com, Inc. | +$244M |
| PGR The Progressive Corporation | +$821M |
| MSFT Microsoft Corporation | +$2.14B |
| SCHW The Charles Schwab Corporation | +$794M |
| META Meta Platforms, Inc. | +$954M |
| JNJ Johnson & Johnson | +$38M |
| TSM Taiwan Semiconductor Manufactu | +$36M |
| HD The Home Depot, Inc. | +$959M |
| TJX The TJX Companies, Inc. | +$35M |
Top sells this quarter · 15
| GEV GE Vernova Inc. | −$1.04B |
| PH Parker-Hannifin Corporation | −$80M |
| HDB HDFC Bank Limitedexit | −$64M |
| NVO Novo Nordisk A/S | −$59M |
| PEN Penumbra, Inc.exit | −$48M |
| SPGI S&P Global Inc. | −$46M |
| CDNS Cadence Design Systems, Inc. | −$40M |
| BWXT BWX Technologies, Inc. | −$33M |
| EXAS Exact Sciences Corporationexit | −$32M |
| TEAM Atlassian Corporationexit | −$28M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $63.96B | 1820 | +16.81% | +17.59% | -0.78% | +1.88B |
| 2025-12-31 | $64.15B | 1786 | +17.62% | +17.72% | -0.10% | +0.91B |
| 2025-09-30 | $62.18B | 1794 | +17.01% | +17.52% | -0.51% | +0.51B |
| 2025-06-30 | $57.03B | 1765 | +15.59% | +14.94% | +0.65% | +0.02B |
| 2025-03-31 | $51.94B | 1753 | +5.31% | +8.30% | -2.99% | +0.99B |
| 2024-12-31 | $52.29B | 1746 | +17.05% | +24.89% | -7.84% | +0.19B |
| 2024-09-30 | $51.49B | 1747 | +29.67% | +36.04% | -6.36% | -0.01B |
| 2024-06-30 | $48.21B | 1753 | +15.82% | +24.49% | -8.67% | +0.51B |
| 2024-03-31 | $47.69B | 1750 | +23.22% | +29.62% | -6.40% | +0.17B |
| 2023-12-31 | $43.88B | 1706 | +19.89% | +26.18% | -6.28% | +2.79B |
| 2023-09-30 | $36.66B | 1705 | +15.56% | +21.57% | -6.01% | +0.51B |
| 2023-06-30 | $37.89B | 1686 | +16.50% | +19.42% | -2.92% | -5.24B |
| 2023-03-31 | $40.54B | 1684 | -6.38% | -7.82% | +1.44% | +0.53B |
| 2022-12-31 | $37.98B | 1679 | -15.24% | -18.17% | +2.93% | +1.31B |
| 2022-09-30 | $33.94B | 1694 | -12.86% | -15.51% | +2.65% | -0.72B |
| 2022-06-30 | $36.02B | 1766 | -8.91% | -10.62% | +1.71% | +1.42B |