Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-24.44%
trims when stocks drop
when a holding falls −10%+
Middle response
-15.86%
baseline attrition
Rally response
-18.40%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $2.75B | 6.7% | +9.5% | 7.5 yr |
| NVDANVIDIA Corporation | $1.64B | 4.0% | +60.9% | 6.0 yr |
| TSLATesla, Inc. | $1.32B | 3.2% | +43.4% | 3.5 yr |
| DHRDanaher Corporation | $766M | 1.9% | -7.1% | 4.0 yr |
| XOMExxon Mobil Corporation | $727M | 1.8% | +47.6% | 4.8 yr |
| VVisa Inc. | $656M | 1.6% | -13.1% | 5.3 yr |
| AAPLApple Inc. | $633M | 1.5% | +14.7% | 4.0 yr |
| GEVGE Vernova Inc. | $592M | 1.4% | +186.8% | 2.0 yr |
| PEPPepsiCo, Inc. | $547M | 1.3% | +7.7% | 4.8 yr |
| AZNAstraZeneca PLC | $525M | 1.3% | +36.2% | 0.3 yr |
| PLTRPalantir Technologies In | $499M | 1.2% | +73.3% | 1.8 yr |
| ISRGIntuitive Surgical, Inc. | $480M | 1.2% | -6.9% | 5.3 yr |
| HLTHilton Worldwide Holding | $474M | 1.1% | +33.9% | 6.8 yr |
| GEGE Aerospace | $432M | 1.0% | +42.5% | 4.0 yr |
| STXSeagate Technology Holdi | $426M | 1.0% | +366.3% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail9.2%+0.6pp$3.79B
Semiconductors7.6%+3.8pp$3.12B
Auto - Manufacturers3.7%+0.6pp$1.51B
Biotechnology3.6%+1.7pp$1.50B
Drug Manufacturers - General3.5%+0.6pp$1.44B
Medical - Diagnostics & Research3.4%+1.0pp$1.41B
Software - Infrastructure3.3%+0.5pp$1.34B
Medical - Devices3.2%+0.2pp$1.32B
Financial - Credit Services2.7%-0.2pp$1.13B
Oil & Gas Integrated2.4%+0.5pp$986M
Country
US88.4%-1.3pp
GB2.8%-0.0pp
Unknown1.5%-1.1pp
IE1.3%+0.2pp
SG1.1%+0.7pp
CA1.0%+0.4pp
KR0.8%+0.0pp
CH0.7%+0.6pp
Top 5: 17.4% · Top 10: 24.6% · Top 25: 39.4%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$639M |
| DHR Danaher Corporation | +$588M |
| AZN AstraZeneca PLCnew | +$525M |
| ISRG Intuitive Surgical, Inc. | +$406M |
| XOM Exxon Mobil Corporation | +$334M |
| APD Air Products and Chemicals, In | +$320M |
| GE GE Aerospace | +$277M |
| MA Mastercard Incorporated | +$263M |
| EQIX Equinix, Inc. | +$231M |
| AAPL Apple Inc. | +$219M |
Top sells this quarter · 15
| TSLA Tesla, Inc. | −$754M |
| NVDA NVIDIA Corporation | −$698M |
| SPGI S&P Global Inc. | −$514M |
| SLB SLB N.V.exit | −$394M |
| REGN Regeneron Pharmaceuticals, Incexit | −$356M |
| INTC Intel Corporationexit | −$313M |
| MCD McDonald's Corporation | −$299M |
| GD General Dynamics Corporationexit | −$295M |
| F-PD Ford Motor Company 6.500% Noteexit | −$260M |
| WM Waste Management, Inc.exit | −$258M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $41.28B | 792 | +21.52% | +17.59% | +3.93% | -4.85B |
| 2025-12-31 | $47.26B | 722 | +20.00% | +17.72% | +2.28% | +1.74B |
| 2025-09-30 | $43.35B | 723 | +17.22% | +17.52% | -0.30% | +0.08B |
| 2025-06-30 | $40.35B | 731 | +16.24% | +14.94% | +1.30% | +3.06B |
| 2025-03-31 | $33.73B | 718 | +3.27% | +8.30% | -5.03% | +4.08B |
| 2024-12-31 | $30.76B | 731 | +19.52% | +24.89% | -5.37% | +5.39B |
| 2024-09-30 | $24.74B | 693 | +30.34% | +36.04% | -5.70% | -0.71B |
| 2024-06-30 | $23.93B | 672 | +18.00% | +24.49% | -6.49% | -2.65B |
| 2024-03-31 | $27.06B | 688 | +29.31% | +29.62% | -0.31% | -1.35B |
| 2023-12-31 | $25.47B | 676 | +23.94% | +26.18% | -2.24% | +0.48B |
| 2023-09-30 | $22.34B | 694 | +20.02% | +21.57% | -1.55% | +0.39B |
| 2023-06-30 | $22.80B | 699 | +20.07% | +19.42% | +0.64% | +1.38B |
| 2023-03-31 | $19.91B | 678 | -7.53% | -7.82% | +0.28% | +2.66B |
| 2022-12-31 | $16.14B | 666 | +8.32% | +7.56% | +0.76% | -0.66B |
| 2022-09-30 | $15.51B | 780 | -3.68% | -4.93% | +1.25% | -0.23B |
| 2022-06-30 | $16.34B | 780 | -17.11% | -16.11% | -1.00% | +0.75B |