Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.16%
baseline attrition
Rally response
-6.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $295M | 6.8% | +17.6% | 7.3 yr |
| AAPLApple Inc. | $253M | 5.9% | +14.7% | 10.0 yr |
| NVDANVIDIA Corporation | $173M | 4.0% | +60.9% | 6.0 yr |
| MSFTMicrosoft Corporation | $160M | 3.7% | -0.6% | 10.0 yr |
| IVViShares Core S&P 500 ETF | $157M | 3.7% | — | 8.3 yr |
| IBTGiShares iBonds Dec 2026 | $104M | 2.4% | — | 1.8 yr |
| SPHQInvesco S&P 500 Quality | $102M | 2.4% | — | 2.0 yr |
| GOOGLAlphabet Inc. | $100M | 2.3% | — | 7.5 yr |
| MBBiShares MBS ETF | $67M | 1.6% | — | 6.3 yr |
| AMZNAmazon.com, Inc. | $60M | 1.4% | +9.5% | 8.5 yr |
| IBTHiShares iBonds Dec 2027 | $59M | 1.4% | — | 1.8 yr |
| AVGOBroadcom Inc. | $58M | 1.3% | +86.0% | 6.5 yr |
| METAMeta Platforms, Inc. | $55M | 1.3% | -0.4% | 6.8 yr |
| AMDAdvanced Micro Devices, | $52M | 1.2% | +98.0% | 4.8 yr |
| IEIiShares 3-7 Year Treasur | $46M | 1.1% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management29.5%-4.3pp$1.27B
Semiconductors11.4%+6.2pp$490M
Consumer Electronics5.9%+3.1pp$253M
Software - Infrastructure5.1%+1.4pp$218M
Internet Content & Information4.4%+0.8pp$192M
Asset Management - Bonds3.4%+0.7pp$148M
Software - Application2.6%+0.9pp$111M
Banks - Diversified2.6%+1.3pp$111M
Aerospace & Defense2.2%+0.7pp$94M
Specialty Retail2.0%-0.4pp$84M
Country
US97.4%+0.0pp
IE1.1%+0.1pp
TW0.5%+0.5pp
CA0.3%-0.3pp
CH0.2%+0.0pp
GB0.1%-0.1pp
SG0.1%+0.0pp
CN0.0%+0.0pp
Top 5: 24.1% · Top 10: 34.2% · Top 25: 49.5%
Top buys this quarter · 15
| AMD Advanced Micro Devices, Inc. | +$35M |
| MRVL Marvell Technology, Inc. | +$26M |
| SYK Stryker Corporation | +$21M |
| DG Dollar General Corporation | +$21M |
| CTSH Cognizant Technology Solutions | +$21M |
| RTX RTX Corporation | +$19M |
| FIX Comfort Systems USA, Inc. | +$18M |
| TSM Taiwan Semiconductor Manufactu | +$18M |
| NOW ServiceNow, Inc. | +$17M |
| VEEV Veeva Systems Inc. | +$17M |
Top sells this quarter · 15
| KMX CarMax, Inc. | −$68M |
| GLW Corning Incorporated | −$37M |
| MU Micron Technology, Inc. | −$26M |
| TRV The Travelers Companies, Inc. | −$24M |
| HON Honeywell International Inc. | −$19M |
| WDAY Workday, Inc.exit | −$19M |
| ANET Arista Networks, Inc. | −$16M |
| DIS The Walt Disney Company | −$16M |
| HCA HCA Healthcare, Inc. | −$16M |
| LRCX Lam Research Corporation | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.31B | 483 | +18.85% | +17.59% | +1.26% | -0.00B |
| 2025-12-31 | $4.51B | 469 | +18.53% | +17.72% | +0.81% | -22.05B |
| 2025-09-30 | $25.35B | 1378 | +15.76% | +17.52% | -1.76% | +0.33B |
| 2025-06-30 | $23.11B | 1338 | +14.04% | +14.94% | -0.90% | +1.54B |
| 2025-03-31 | $19.67B | 1225 | +3.09% | +8.30% | -5.22% | +0.34B |
| 2024-12-31 | $20.29B | 1213 | +18.66% | +24.89% | -6.22% | +6.13B |
| 2024-09-30 | $13.84B | 982 | +29.63% | +36.04% | -6.41% | +1.41B |
| 2024-06-30 | $11.65B | 809 | +16.61% | +24.49% | -7.88% | +3.92B |
| 2024-03-31 | $7.80B | 648 | +27.07% | +29.62% | -2.55% | +1.24B |
| 2023-12-31 | $5.98B | 403 | +25.64% | +26.18% | -0.54% | -0.18B |
| 2023-09-30 | $5.51B | 384 | +19.85% | +21.57% | -1.72% | -0.98B |
| 2023-06-30 | $6.76B | 395 | +18.67% | +19.42% | -0.75% | +0.58B |
| 2023-03-31 | $5.72B | 412 | -8.23% | -7.82% | -0.41% | +0.29B |
| 2022-12-31 | $5.01B | 382 | -19.31% | -18.17% | -1.14% | +0.48B |
| 2022-09-30 | $4.25B | 381 | -15.95% | -15.51% | -0.44% | -0.01B |
| 2022-06-30 | $4.48B | 397 | -11.04% | -10.62% | -0.42% | +0.13B |