Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.64%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.89%
baseline attrition
Rally response
-2.16%
trims into rallies
when a holding rises +10%+
Top positions · 29
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $474M | 8.3% | +60.9% | 4.8 yr |
| JPMJPMorgan Chase & Co. | $379M | 6.7% | +21.8% | 1.8 yr |
| MSFTMicrosoft Corporation | $363M | 6.4% | -0.6% | 6.5 yr |
| AAPLApple Inc. | $324M | 5.7% | +14.7% | 3.5 yr |
| TSMTaiwan Semiconductor Man | $316M | 5.6% | +105.6% | 1.5 yr |
| KOThe Coca-Cola Company | $315M | 5.5% | +9.3% | 1.8 yr |
| MSIMotorola Solutions, Inc. | $288M | 5.1% | +0.2% | 2.5 yr |
| CRH.LCRH plc | $281M | 4.9% | — | 1.3 yr |
| ISRGIntuitive Surgical, Inc. | $256M | 4.5% | -6.9% | 3.5 yr |
| CATCaterpillar Inc. | $249M | 4.4% | +117.8% | 0.5 yr |
| CBChubb Limited | $229M | 4.0% | +9.3% | 4.8 yr |
| WELLWelltower Inc. | $222M | 3.9% | +31.2% | 0.3 yr |
| PHParker-Hannifin Corporat | $220M | 3.9% | +48.6% | 2.8 yr |
| COSTCostco Wholesale Corpora | $211M | 3.7% | +5.9% | 2.5 yr |
| GOOGLAlphabet Inc. | $207M | 3.6% | — | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.8%+9.2pp$953M
Banks - Diversified6.7%+1.4pp$379M
Software - Infrastructure6.4%-0.4pp$363M
Medical - Devices6.4%+2.3pp$361M
Internet Content & Information5.7%+5.1pp$326M
Consumer Electronics5.7%+2.2pp$324M
Hardware, Equipment & Parts5.6%$318M
Beverages - Non-Alcoholic5.5%-1.4pp$315M
Communication Equipment5.1%-0.1pp$288M
Construction Materials4.9%+0.4pp$281M
Country
US85.5%+3.8pp
TW5.6%+2.2pp
IE4.9%+0.4pp
CH4.0%+4.0pp
Top 5: 32.7% · Top 10: 57.1% · Top 25: 99.4%
Top buys this quarter · 4
| WELL Welltower Inc.new | +$222M |
| CB Chubb Limited | +$220M |
| HWM Howmet Aerospace Inc. | +$2M |
| GOOGL Alphabet Inc. | +$0M |
Top sells this quarter · 15
| LIN Linde plcexit | −$385M |
| KEYS Keysight Technologies, Inc. | −$371M |
| ORLY O'Reilly Automotive, Inc.exit | −$329M |
| KO The Coca-Cola Company | −$300M |
| MS Morgan Stanley | −$295M |
| JPM JPMorgan Chase & Co. | −$272M |
| PH Parker-Hannifin Corporation | −$268M |
| CBRE CBRE Group, Inc. | −$241M |
| NOW ServiceNow, Inc.exit | −$235M |
| VEEV Veeva Systems Inc.exit | −$210M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.68B | 29 | +12.83% | +17.59% | -4.76% | -3.72B |
| 2025-12-31 | $9.88B | 31 | +12.11% | +17.72% | -5.60% | -0.38B |
| 2025-09-30 | $10.25B | 30 | +13.35% | +17.52% | -4.16% | -2.18B |
| 2025-06-30 | $11.68B | 30 | +13.13% | +14.94% | -1.81% | -4.75B |
| 2025-03-31 | $14.77B | 32 | +2.28% | +8.30% | -6.03% | -2.65B |
| 2024-12-31 | $18.40B | 34 | +21.60% | +24.89% | -3.28% | +1.26B |
| 2024-09-30 | $16.93B | 33 | +34.52% | +36.04% | -1.52% | +2.52B |
| 2024-06-30 | $13.58B | 30 | +21.49% | +24.49% | -3.01% | +2.24B |
| 2024-03-31 | $11.28B | 30 | +28.75% | +29.62% | -0.88% | +0.19B |
| 2023-12-31 | $9.85B | 31 | +18.13% | +26.18% | -8.05% | +2.85B |
| 2023-09-30 | $6.25B | 28 | +13.98% | +21.57% | -7.59% | +0.36B |
| 2023-06-30 | $6.15B | 29 | +16.94% | +19.42% | -2.48% | +1.39B |
| 2023-03-31 | $4.46B | 28 | -2.69% | -7.82% | +5.13% | +0.94B |
| 2022-12-31 | $3.41B | 26 | +8.06% | +7.56% | +0.49% | +0.04B |
| 2022-09-30 | $3.12B | 27 | -1.66% | -4.93% | +3.27% | -0.10B |
| 2022-06-30 | $3.28B | 28 | -11.28% | -16.11% | +4.83% | -0.53B |