Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.56%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.91%
baseline attrition
Rally response
-0.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $210M | 9.9% | +60.9% | 8.5 yr |
| MSFTMicrosoft Corporation | $128M | 6.0% | -0.6% | 8.5 yr |
| AAPLApple Inc. | $110M | 5.2% | +14.7% | 8.5 yr |
| GOOGLAlphabet Inc. | $110M | 5.1% | — | 8.3 yr |
| AMZNAmazon.com, Inc. | $87M | 4.1% | +9.5% | 8.3 yr |
| AVGOBroadcom Inc. | $79M | 3.7% | +86.0% | 7.5 yr |
| MRKMerck & Co., Inc. | $66M | 3.1% | +38.9% | 8.5 yr |
| JPMJPMorgan Chase & Co. | $63M | 3.0% | +21.8% | 8.5 yr |
| METAMeta Platforms, Inc. | $58M | 2.7% | -0.4% | 6.3 yr |
| AMEAMETEK, Inc. | $52M | 2.4% | +25.3% | 8.5 yr |
| VVisa Inc. | $47M | 2.2% | -13.1% | 8.3 yr |
| DARDarling Ingredients Inc. | $45M | 2.1% | +98.0% | 4.8 yr |
| XOMExxon Mobil Corporation | $44M | 2.0% | +47.6% | 8.5 yr |
| TTTrane Technologies plc | $42M | 2.0% | +24.8% | 6.3 yr |
| GHGuardant Health, Inc. | $41M | 1.9% | +116.8% | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors17.1%+3.6pp$365M
Internet Content & Information8.1%-0.7pp$172M
Software - Infrastructure8.0%-4.3pp$170M
Specialty Retail5.9%+1.1pp$126M
Consumer Electronics5.2%-2.3pp$110M
Drug Manufacturers - General4.5%+1.3pp$96M
Banks - Diversified4.0%+0.6pp$85M
Biotechnology3.6%+0.2pp$77M
Medical - Diagnostics & Research3.6%+1.1pp$76M
Railroads2.6%+0.3pp$56M
Country
US96.1%-0.0pp
IE2.2%-0.4pp
CH1.6%+0.7pp
CA0.1%
Top 5: 30.2% · Top 10: 45.2% · Top 25: 70.3%
Top buys this quarter · 15
| AMAT Applied Materials, Inc. | +$16M |
| AWK American Water Works Company, | +$12M |
| COHR Coherent, Inc.new | +$9M |
| CRWD CrowdStrike Holdings, Inc. | +$7M |
| MRK Merck & Co., Inc. | +$7M |
| TEM Tempus AI, Inc.new | +$6M |
| RYN Rayonier Inc.new | +$6M |
| MSFT Microsoft Corporation | +$128M |
| TDG TransDigm Group Incorporatednew | +$3M |
| IMNM Immunome, Inc.new | +$3M |
Top sells this quarter · 15
| HAL Halliburton Company | −$17M |
| PEP PepsiCo, Inc. | −$16M |
| NEE NextEra Energy, Inc. | −$13M |
| EOG EOG Resources, Inc. | −$7M |
| ADI Analog Devices, Inc. | −$34M |
| ROP Roper Technologies, Inc. | −$5M |
| GH Guardant Health, Inc. | −$5M |
| AR Antero Resources Corporation | −$19M |
| ORCL Oracle Corporation | −$4M |
| CSCO Cisco Systems, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.14B | 119 | +24.14% | +17.59% | +6.55% | +0.02B |
| 2025-12-31 | $2.19B | 90 | +20.36% | +17.72% | +2.65% | -1.38B |
| 2025-09-30 | $3.45B | 85 | +19.92% | +17.52% | +2.40% | -0.09B |
| 2025-06-30 | $3.29B | 85 | +15.24% | +14.94% | +0.30% | -0.14B |
| 2025-03-31 | $2.96B | 89 | +2.29% | +8.30% | -6.01% | -0.02B |
| 2024-12-31 | $3.18B | 90 | +17.38% | +24.89% | -7.51% | -0.13B |
| 2024-09-30 | $3.22B | 95 | +28.78% | +36.04% | -7.26% | +0.03B |
| 2024-06-30 | $3.09B | 94 | +17.79% | +24.49% | -6.70% | -0.06B |
| 2024-03-31 | $3.06B | 92 | +25.05% | +29.62% | -4.58% | +0.01B |
| 2023-12-31 | $2.84B | 96 | +23.57% | +26.18% | -2.60% | +0.02B |
| 2023-09-30 | $2.50B | 98 | +16.06% | +21.57% | -5.51% | -0.01B |
| 2023-06-30 | $2.66B | 100 | +19.32% | +19.42% | -0.11% | +0.54B |
| 2023-03-31 | $1.94B | 101 | -10.24% | -7.82% | -2.42% | +0.05B |
| 2022-12-31 | $1.79B | 98 | +6.06% | +7.56% | -1.50% | +0.04B |
| 2022-09-30 | $1.64B | 95 | -2.80% | -4.93% | +2.13% | +0.38B |
| 2022-06-30 | $1.30B | 100 | -18.03% | -16.11% | -1.92% | -0.02B |