Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-23.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-10.15%
baseline attrition
Rally response
-8.53%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $288M | 9.8% | +60.9% | 6.5 yr |
| GEVGE Vernova Inc. | $227M | 7.7% | +186.8% | 2.0 yr |
| AMZNAmazon.com, Inc. | $166M | 5.6% | +9.5% | 7.8 yr |
| NEENextEra Energy, Inc. | $143M | 4.9% | +34.9% | 5.5 yr |
| AVGOBroadcom Inc. | $126M | 4.3% | +86.0% | 3.3 yr |
| GOOGLAlphabet Inc. | $125M | 4.2% | — | 7.8 yr |
| TKOTKO Group Holdings, Inc. | $123M | 4.2% | +33.8% | 1.5 yr |
| ETNEaton Corporation plc | $118M | 4.0% | +33.2% | 2.0 yr |
| TRGPTarga Resources Corp. | $108M | 3.6% | +28.0% | 2.5 yr |
| JCIJohnson Controls Interna | $106M | 3.6% | +65.7% | 2.3 yr |
| MAMastercard Incorporated | $103M | 3.5% | -8.5% | 7.8 yr |
| LLYEli Lilly and Company | $94M | 3.2% | +12.2% | 3.5 yr |
| — | $91M | 3.1% | — | 2.8 yr |
| RTXRTX Corporation | $87M | 2.9% | +48.1% | 1.5 yr |
| CIENCiena Corporation | $83M | 2.8% | +542.4% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.7%+3.8pp$434M
Aerospace & Defense12.3%+6.0pp$363M
Renewable Utilities8.2%-0.3pp$241M
Engineering & Construction7.6%+4.3pp$225M
Industrial - Machinery7.6%+3.5pp$223M
Specialty Retail5.6%-2.1pp$166M
Regulated Electric4.9%+4.1pp$143M
Communication Equipment4.6%+2.2pp$135M
Internet Content & Information4.3%-4.8pp$126M
Entertainment4.2%-2.6pp$123M
Country
US84.9%+2.1pp
IE8.2%-0.7pp
Unknown3.1%-0.7pp
CA1.5%+0.9pp
GB1.1%+0.3pp
BM0.9%+0.7pp
IL0.3%+0.0pp
Top 5: 32.2% · Top 10: 51.9% · Top 25: 86.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| FIX | $55M | +0.18B | 329.0% |
| GEV | $90M | +0.17B | 186.8% |
| NVDA | $149M | +0.09B | 60.9% |
| AVGO | $79M | +0.07B | 86.0% |
| JCI | $76M | +0.05B | 65.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MA | $111M | -0.01B | -8.5% |
Top buys this quarter · 15
| NEE NextEra Energy, Inc. | +$108M |
| AVGO Broadcom Inc. | +$87M |
| HWM Howmet Aerospace Inc. | +$68M |
| STRL Sterling Infrastructure, Inc.new | +$67M |
| MCK McKesson Corporationnew | +$60M |
| LLY Eli Lilly and Company | +$58M |
| LITE Lumentum Holdings Inc.new | +$52M |
| BWXT BWX Technologies, Inc. | +$49M |
| CF CF Industries Holdings, Inc.new | +$48M |
| TRGP Targa Resources Corp. | +$28M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$137M |
| CEG Constellation Energy Corporati | −$120M |
| META Meta Platforms, Inc. | −$103M |
| SN SharkNinja, Inc. | −$81M |
| V Visa Inc.exit | −$80M |
| BSX Boston Scientific Corporationexit | −$79M |
| RTX RTX Corporation | −$79M |
| HEI HEICO Corporation | −$65M |
| GEV GE Vernova Inc. | −$216M |
| ISRG Intuitive Surgical, Inc.exit | −$50M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.95B | 59 | +49.83% | +17.59% | +32.24% | -0.75B |
| 2025-12-31 | $3.58B | 58 | +34.36% | +17.72% | +16.65% | -0.10B |
| 2025-09-30 | $3.65B | 63 | +40.60% | +17.52% | +23.09% | +0.25B |
| 2025-06-30 | $3.22B | 68 | +41.95% | +14.94% | +27.01% | +0.36B |
| 2025-03-31 | $2.11B | 60 | +12.33% | +8.30% | +4.02% | -0.56B |
| 2024-12-31 | $2.88B | 65 | +41.53% | +24.89% | +16.64% | -0.02B |
| 2024-09-30 | $2.75B | 62 | +54.26% | +36.04% | +18.22% | -0.13B |
| 2024-06-30 | $2.70B | 57 | +43.19% | +24.49% | +18.70% | -0.30B |
| 2024-03-31 | $2.79B | 57 | +46.24% | +29.62% | +16.62% | +0.26B |
| 2023-12-31 | $2.17B | 52 | +28.58% | +26.18% | +2.40% | -0.11B |
| 2023-09-30 | $1.98B | 38 | +16.39% | +21.57% | -5.18% | -0.17B |
| 2023-06-30 | $2.17B | 33 | +16.39% | +19.42% | -3.03% | -0.08B |
| 2023-03-31 | $2.05B | 36 | -9.62% | -7.82% | -1.80% | +0.25B |
| 2022-12-31 | $1.75B | 35 | +4.30% | +7.56% | -3.26% | +0.04B |
| 2022-09-30 | $1.64B | 32 | -1.00% | -4.93% | +3.93% | -0.04B |
| 2022-06-30 | $1.70B | 29 | -14.73% | -16.11% | +1.38% | -0.68B |