Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.88%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.69%
baseline attrition
Rally response
-1.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $507M | 5.5% | +9.5% | 5.8 yr |
| VVisa Inc. | $468M | 5.1% | -13.1% | 7.3 yr |
| MSFTMicrosoft Corporation | $458M | 5.0% | -0.6% | 7.5 yr |
| GOOGLAlphabet Inc. | $443M | 4.8% | — | 5.5 yr |
| FERGFerguson plc | $435M | 4.7% | +47.8% | 1.5 yr |
| CMECME Group Inc. | $431M | 4.7% | +15.6% | 1.3 yr |
| GEVGE Vernova Inc. | $403M | 4.4% | +186.8% | 1.3 yr |
| IBKRInteractive Brokers Grou | $397M | 4.3% | +62.8% | 1.0 yr |
| GEGE Aerospace | $393M | 4.3% | +42.5% | 1.3 yr |
| TMOThermo Fisher Scientific | $390M | 4.3% | -0.9% | 2.8 yr |
| TSMTaiwan Semiconductor Man | $361M | 3.9% | +105.6% | 6.5 yr |
| MMCMarsh & McLennan Compani | $351M | 3.8% | — | 1.3 yr |
| ICEIntercontinental Exchang | $349M | 3.8% | -7.8% | 0.8 yr |
| SNPSSynopsys, Inc. | $312M | 3.4% | -7.5% | 5.3 yr |
| AMDAdvanced Micro Devices, | $302M | 3.3% | +98.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Financial - Data & Stock Exchanges8.5%+4.6pp$782M
Financial - Credit Services8.5%+2.2pp$779M
Software - Infrastructure8.4%+0.4pp$771M
Semiconductors7.9%-0.4pp$727M
Specialty Retail6.4%+4.4pp$585M
Internet Content & Information5.8%+1.2pp$530M
Industrial - Distribution4.7%+1.5pp$435M
Renewable Utilities4.4%+4.0pp$403M
Aerospace & Defense4.3%+3.9pp$399M
Investment - Banking & Investment Services4.3%$397M
Country
US82.4%-4.7pp
GB4.7%+1.1pp
TW3.9%+2.2pp
CN3.3%+0.5pp
SG2.5%
KR1.2%+1.2pp
UY0.7%
Unknown0.5%
Top 5: 25.2% · Top 10: 47.1% · Top 25: 87.1%
Top buys this quarter · 15
| GRAB Grab Holdings Limited | +$226M |
| EXP Eagle Materials Inc.new | +$101M |
| AMD Advanced Micro Devices, Inc. | +$50M |
| SNPS Synopsys, Inc. | +$312M |
| AMZN Amazon.com, Inc. | +$507M |
| COF Capital One Financial Corporat | +$283M |
| V Visa Inc. | +$468M |
| ICE Intercontinental Exchange, Inc | +$21M |
| FERG Ferguson plc | +$21M |
| VMC Vulcan Materials Company | +$14M |
Top sells this quarter · 15
| HCA HCA Healthcare, Inc.exit | −$68M |
| INTU Intuit Inc. | −$47M |
| DHI D.R. Horton, Inc. | −$39M |
| ORLY O'Reilly Automotive, Inc. | −$39M |
| EL The Estée Lauder Companies In | −$31M |
| QCOM QUALCOMM Incorporated | −$22M |
| GEHC GE HealthCare Technologies Inc | −$20M |
| HTHT H World Group Limitedexit | −$17M |
| GEV GE Vernova Inc. | −$314M |
| UNH UnitedHealth Group Incorporate | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.18B | 223 | +15.66% | +17.59% | -1.93% | +0.10B |
| 2025-12-31 | $9.63B | 238 | +18.73% | +17.72% | +1.01% | +8.12B |
| 2025-09-30 | $1.40B | 81 | +7.50% | +17.52% | -10.02% | -0.01B |
| 2025-06-30 | $1.32B | 95 | +6.28% | +14.94% | -8.67% | +0.08B |
| 2025-03-31 | $1.17B | 95 | +0.49% | +8.30% | -7.81% | +0.03B |
| 2024-12-31 | $1.17B | 90 | +10.67% | +24.89% | -14.21% | -0.06B |
| 2024-09-30 | $1.26B | 83 | +25.99% | +36.04% | -10.05% | +0.01B |
| 2024-06-30 | $1.18B | 76 | +11.74% | +24.49% | -12.75% | -0.13B |
| 2024-03-31 | $1.31B | 77 | +16.85% | +29.62% | -12.77% | +0.04B |
| 2023-12-31 | $1.19B | 76 | +19.30% | +26.18% | -6.88% | -0.02B |
| 2023-09-30 | $1.09B | 78 | +17.85% | +21.57% | -3.71% | +0.15B |
| 2023-06-30 | $1.01B | 72 | +17.90% | +19.42% | -1.53% | -0.11B |
| 2023-03-31 | $1.06B | 70 | -4.23% | -7.82% | +3.59% | -0.12B |
| 2022-12-31 | $1.08B | 74 | +9.56% | +7.56% | +2.00% | -0.09B |
| 2022-09-30 | $1.07B | 77 | -6.14% | -4.93% | -1.22% | -0.11B |
| 2022-06-30 | $1.26B | 72 | -14.48% | -16.11% | +1.63% | +0.10B |