Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.18%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.08%
baseline attrition
Rally response
-11.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $283M | 4.1% | — | 10.5 yr |
| AKAMAkamai Technologies, Inc | $279M | 4.0% | +42.7% | 10.5 yr |
| NVDANVIDIA Corporation | $227M | 3.3% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $223M | 3.2% | -0.6% | 10.5 yr |
| TOTB.DETotalEnergies SE | $206M | 3.0% | +41.2% | 0.5 yr |
| VEEVVeeva Systems Inc. | $191M | 2.8% | -24.2% | 5.5 yr |
| SLBSLB N.V. | $188M | 2.7% | +26.7% | 10.5 yr |
| MTCHMatch Group, Inc. | $152M | 2.2% | +0.1% | 5.8 yr |
| BACBank of America Corporat | $150M | 2.2% | +19.4% | 10.5 yr |
| AMZNAmazon.com, Inc. | $148M | 2.1% | +9.5% | 10.5 yr |
| BRKRPBruker Corporation 6.375 | $121M | 1.8% | — | 1.0 yr |
| BAHBooz Allen Hamilton Hold | $115M | 1.7% | -23.5% | 7.5 yr |
| CCCSCCC Intelligent Solution | $112M | 1.6% | — | 3.0 yr |
| CHKPCheck Point Software Tec | $107M | 1.6% | -37.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $97M | 1.4% | +21.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure12.1%+0.9pp$836M
Internet Content & Information8.0%+0.0pp$550M
Asset Management6.3%-1.1pp$438M
Semiconductors5.0%+0.7pp$349M
Banks - Diversified5.0%+1.0pp$346M
Software - Application4.6%+0.6pp$316M
Drug Manufacturers - General4.4%+0.7pp$307M
Medical - Devices3.6%+0.7pp$250M
Oil & Gas Equipment & Services3.4%-1.0pp$237M
Oil & Gas Integrated3.3%+3.0pp$231M
Country
US83.8%-3.7pp
FR3.0%+3.0pp
GB2.3%+1.1pp
IE1.9%-0.7pp
CA1.9%+0.9pp
IL1.6%-0.3pp
NL0.9%+0.5pp
CN0.8%-1.2pp
Top 5: 17.6% · Top 10: 29.6% · Top 25: 48.6%
Top buys this quarter · 15
| VEEV Veeva Systems Inc. | +$126M |
| AZN AstraZeneca PLCnew | +$79M |
| JPM JPMorgan Chase & Co. | +$47M |
| BSX Boston Scientific Corporation | +$43M |
| HON Honeywell International Inc. | +$41M |
| WFC Wells Fargo & Company | +$37M |
| MSFT Microsoft Corporation | +$223M |
| TOST Toast, Inc. | +$34M |
| HUBS HubSpot, Inc. | +$86M |
| CHKP Check Point Software Technolog | +$107M |
Top sells this quarter · 15
| VZ Verizon Communications Inc. | −$189M |
| SLB SLB N.V. | −$77M |
| RY Royal Bank of Canada | −$58M |
| CAT Caterpillar Inc. | −$56M |
| EW Edwards Lifesciences Corporati | −$44M |
| ILMN Illumina, Inc. | −$31M |
| PYPL PayPal Holdings, Inc. | −$29M |
| DAL Delta Air Lines, Inc. | −$26M |
| TDY Teledyne Technologies Incorpor | −$20M |
| AKAM Akamai Technologies, Inc. | −$226M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.91B | 541 | +13.76% | +17.59% | -3.83% | +0.00B |
| 2025-12-31 | $7.04B | 563 | +13.00% | +17.72% | -4.71% | +0.47B |
| 2025-09-30 | $6.47B | 571 | +8.70% | +17.52% | -8.82% | -0.23B |
| 2025-06-30 | $6.27B | 565 | +8.33% | +14.94% | -6.61% | +0.22B |
| 2025-03-31 | $5.67B | 576 | -0.60% | +8.30% | -8.90% | -0.03B |
| 2024-12-31 | $5.84B | 612 | +10.07% | +24.89% | -14.81% | -0.21B |
| 2024-09-30 | $6.19B | 592 | +24.22% | +36.04% | -11.82% | -0.01B |
| 2024-06-30 | $5.82B | 602 | +14.17% | +24.49% | -10.32% | +0.03B |
| 2024-03-31 | $5.92B | 608 | +23.97% | +29.62% | -5.66% | +0.02B |
| 2023-12-31 | $5.46B | 622 | +19.98% | +26.18% | -6.19% | +0.14B |
| 2023-09-30 | $4.83B | 638 | +20.75% | +21.57% | -0.82% | -0.06B |
| 2023-06-30 | $4.99B | 690 | +15.80% | +19.42% | -3.63% | +0.40B |
| 2023-03-31 | $4.31B | 702 | -6.29% | -7.82% | +1.53% | -0.08B |
| 2022-12-31 | $4.20B | 757 | -14.44% | -18.17% | +3.74% | +0.09B |
| 2022-09-30 | $3.71B | 793 | -14.36% | -15.51% | +1.15% | -0.09B |
| 2022-06-30 | $4.04B | 776 | -8.32% | -10.62% | +2.30% | +0.13B |