Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.27%
baseline attrition
Rally response
+0.45%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $208M | 9.3% | +60.9% | 7.8 yr |
| GOOGAlphabet Inc. | $152M | 6.8% | +84.3% | 10.3 yr |
| MSFTMicrosoft Corporation | $142M | 6.4% | -0.6% | 10.3 yr |
| AAPLApple Inc. | $135M | 6.1% | +14.7% | 10.3 yr |
| AMZNAmazon.com, Inc. | $92M | 4.1% | +9.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $71M | 3.2% | -0.4% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $59M | 2.6% | — | 3.3 yr |
| JPMJPMorgan Chase & Co. | $57M | 2.6% | +21.8% | 10.3 yr |
| AVGOBroadcom Inc. | $55M | 2.4% | +86.0% | 0.8 yr |
| MAMastercard Incorporated | $48M | 2.1% | -8.5% | 10.3 yr |
| AMATApplied Materials, Inc. | $47M | 2.1% | +137.6% | 0.3 yr |
| VVisa Inc. | $46M | 2.1% | -13.1% | 10.3 yr |
| NEENextEra Energy, Inc. | $44M | 2.0% | +34.9% | 10.3 yr |
| MARMarriott International, | $44M | 2.0% | +38.6% | 9.3 yr |
| UNHUnitedHealth Group Incor | $40M | 1.8% | -46.9% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors15.4%+8.0pp$344M
Internet Content & Information10.0%+0.8pp$222M
Software - Infrastructure8.0%-1.9pp$179M
Consumer Electronics6.1%+0.4pp$135M
Banks - Diversified5.5%+2.2pp$123M
Medical - Devices5.1%-1.0pp$114M
Financial - Credit Services4.2%-2.3pp$94M
Specialty Retail4.2%+0.3pp$93M
Restaurants3.7%-0.2pp$82M
Regulated Electric3.6%+2.1pp$81M
Country
US92.0%-3.4pp
MX1.6%
BR1.4%+1.3pp
TW1.1%+1.0pp
IN1.1%+0.9pp
CN0.8%-0.8pp
HK0.8%
PE0.8%+0.2pp
Top 5: 32.7% · Top 10: 45.6% · Top 25: 71.0%
Top buys this quarter · 15
| AMAT Applied Materials, Inc.new | +$47M |
| T AT&T Inc. | +$35M |
| XOM Exxon Mobil Corporation | +$31M |
| GEV GE Vernova Inc.new | +$30M |
| GE GE Aerospacenew | +$30M |
| AVGO Broadcom Inc. | +$29M |
| CVX Chevron Corporationnew | +$27M |
| APH Amphenol Corporationnew | +$24M |
| VIST Vista Energy, S.A.B. de C.V. | +$21M |
| WFC Wells Fargo & Company | +$21M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$43M |
| INTU Intuit Inc.exit | −$43M |
| MSCI MSCI Inc.exit | −$41M |
| GOOG Alphabet Inc. | −$38M |
| SPGI S&P Global Inc.exit | −$34M |
| MCO Moody's Corporationexit | −$33M |
| META Meta Platforms, Inc. | −$27M |
| VRSK Verisk Analytics, Inc.exit | −$25M |
| AUGO Aura Mineralsexit | −$23M |
| CRM Salesforce, Inc.exit | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.23B | 71 | +6.55% | +17.59% | -11.04% | -0.11B |
| 2025-12-31 | $2.55B | 74 | +10.97% | +17.72% | -6.75% | -0.06B |
| 2025-09-30 | $2.59B | 74 | +12.85% | +17.52% | -4.67% | +0.05B |
| 2025-06-30 | $2.45B | 72 | +15.78% | +14.94% | +0.84% | -0.08B |
| 2025-03-31 | $2.28B | 73 | +6.14% | +8.30% | -2.17% | -0.04B |
| 2024-12-31 | $2.42B | 77 | +17.76% | +24.89% | -7.12% | -0.01B |
| 2024-09-30 | $2.37B | 74 | +28.97% | +36.04% | -7.07% | +0.03B |
| 2024-06-30 | $2.21B | 73 | +15.25% | +24.49% | -9.24% | -0.01B |
| 2024-03-31 | $2.17B | 74 | +23.05% | +29.62% | -6.58% | -0.01B |
| 2023-12-31 | $2.06B | 74 | +26.71% | +26.18% | +0.53% | -0.03B |
| 2023-09-30 | $1.86B | 74 | +19.58% | +21.57% | -1.99% | +0.06B |
| 2023-06-30 | $1.90B | 73 | +19.87% | +19.42% | +0.45% | -0.04B |
| 2023-03-31 | $1.78B | 74 | -6.45% | -7.82% | +1.37% | -0.03B |
| 2022-12-31 | $1.66B | 76 | +6.07% | +7.56% | -1.49% | +0.02B |
| 2022-09-30 | $1.54B | 76 | -4.86% | -4.93% | +0.07% | -0.03B |
| 2022-06-30 | $1.65B | 80 | -15.10% | -16.11% | +1.01% | +0.05B |