Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.08%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.96%
baseline attrition
Rally response
-2.70%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $269M | 3.9% | +60.9% | 10.3 yr |
| GOOGAlphabet Inc. | $227M | 3.3% | +84.3% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $175M | 2.5% | +21.8% | 10.3 yr |
| JNJJohnson & Johnson | $164M | 2.4% | +51.5% | 10.3 yr |
| MSMorgan Stanley | $129M | 1.9% | +44.8% | 9.3 yr |
| MSFTMicrosoft Corporation | $128M | 1.8% | -0.6% | 10.3 yr |
| QCOMQUALCOMM Incorporated | $126M | 1.8% | -14.2% | 10.3 yr |
| RGAReinsurance Group of Ame | $111M | 1.6% | +5.6% | 8.5 yr |
| GEGE Aerospace | $110M | 1.6% | +42.5% | 4.5 yr |
| EQIXEquinix, Inc. | $109M | 1.6% | +23.0% | 10.3 yr |
| AMZNAmazon.com, Inc. | $108M | 1.6% | +9.5% | 10.3 yr |
| DALDelta Air Lines, Inc. | $108M | 1.6% | +54.5% | 10.3 yr |
| TMOThermo Fisher Scientific | $107M | 1.5% | -0.9% | 10.3 yr |
| VVisa Inc. | $105M | 1.5% | -13.1% | 10.3 yr |
| APDAir Products and Chemica | $100M | 1.4% | +0.5% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - General6.8%+1.3pp$472M
Semiconductors5.8%+0.1pp$399M
Banks - Diversified5.3%-0.3pp$366M
Internet Content & Information4.8%+1.2pp$334M
Aerospace & Defense4.6%-0.3pp$322M
Financial - Credit Services4.3%-2.1pp$298M
Software - Infrastructure3.7%-1.6pp$258M
Medical - Diagnostics & Research3.4%+0.6pp$239M
Software - Application3.2%-0.4pp$218M
Oil & Gas Integrated2.9%+0.3pp$201M
Country
US88.9%+0.3pp
CH2.8%+0.1pp
GB2.6%-0.7pp
CA2.3%+0.8pp
Unknown1.9%-0.1pp
BE0.8%-0.2pp
IT0.6%-0.1pp
IE0.1%-0.1pp
Top 5: 13.9% · Top 10: 22.3% · Top 25: 42.9%
Top buys this quarter · 15
| NKE NIKE, Inc. | +$12M |
| LW Lamb Weston Holdings, Inc. | +$9M |
| MDLZ Mondelez International, Inc. | +$7M |
| ROP Roper Technologies, Inc. | +$57M |
| WDAY Workday, Inc. | +$41M |
| CRM Salesforce, Inc. | +$57M |
| SNPS Synopsys, Inc. | +$5M |
| ZTS Zoetis Inc. | +$5M |
| INTU Intuit Inc. | +$32M |
| CSGP CoStar Group, Inc. | +$32M |
Top sells this quarter · 15
| AA Alcoa Corporation | −$21M |
| GOOG Alphabet Inc. | −$11M |
| PYPL PayPal Holdings, Inc. | −$8M |
| AES The AES Corporation | −$8M |
| NVDA NVIDIA Corporation | −$6M |
| GE GE Aerospace | −$5M |
| ELAN Elanco Animal Health Incorpora | −$5M |
| RBC RBC Bearings Incorporated | −$65M |
| AXP American Express Company | −$4M |
| GXO GXO Logistics, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.93B | 239 | +13.10% | +17.59% | -4.49% | -0.05B |
| 2025-12-31 | $7.29B | 238 | +13.81% | +17.72% | -3.91% | -0.16B |
| 2025-09-30 | $7.18B | 237 | +9.01% | +17.52% | -8.51% | -0.11B |
| 2025-06-30 | $6.90B | 235 | +9.40% | +14.94% | -5.54% | -0.40B |
| 2025-03-31 | $6.79B | 233 | +1.05% | +8.30% | -7.25% | -0.05B |
| 2024-12-31 | $7.09B | 232 | +14.99% | +24.89% | -9.89% | -0.14B |
| 2024-09-30 | $7.28B | 236 | +29.92% | +36.04% | -6.12% | -0.19B |
| 2024-06-30 | $7.04B | 232 | +17.83% | +24.49% | -6.66% | +0.00B |
| 2024-03-31 | $7.08B | 241 | +24.20% | +29.62% | -5.42% | -0.04B |
| 2023-12-31 | $6.49B | 246 | +17.54% | +26.18% | -8.64% | -0.20B |
| 2023-09-30 | $5.96B | 236 | +15.97% | +21.57% | -5.60% | +0.00B |
| 2023-06-30 | $6.19B | 237 | +14.07% | +19.42% | -5.35% | -0.11B |
| 2023-03-31 | $6.01B | 228 | -8.16% | -7.82% | -0.34% | -0.20B |
| 2022-12-31 | $5.98B | 228 | +10.80% | +7.56% | +3.24% | -0.01B |
| 2022-09-30 | $5.41B | 213 | -5.38% | -4.93% | -0.45% | -0.16B |
| 2022-06-30 | $5.89B | 216 | -15.63% | -16.11% | +0.48% | -0.09B |