Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-17.93%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.40%
baseline attrition
Rally response
-4.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.06B | 9.0% | +60.9% | 5.5 yr |
| AVGOBroadcom Inc. | $889M | 3.9% | +86.0% | 3.5 yr |
| AMDAdvanced Micro Devices, | $693M | 3.0% | +98.0% | 5.5 yr |
| METAMeta Platforms, Inc. | $600M | 2.6% | -0.4% | 5.5 yr |
| SNDKSandisk Corporation | $557M | 2.4% | +1234.5% | 0.8 yr |
| LITELumentum Holdings Inc. | $506M | 2.2% | +1027.3% | 3.3 yr |
| COHRCoherent, Inc. | $471M | 2.1% | +266.8% | 2.3 yr |
| GLWCorning Incorporated | $453M | 2.0% | +201.5% | 1.5 yr |
| GOOGLAlphabet Inc. | $412M | 1.8% | — | 5.5 yr |
| LRCXLam Research Corporation | $409M | 1.8% | +196.1% | 1.0 yr |
| KLACKLA Corporation | $399M | 1.8% | +118.2% | 5.0 yr |
| VRTVertiv Holdings Co | $386M | 1.7% | +247.5% | 4.5 yr |
| STXSeagate Technology Holdi | $366M | 1.6% | +366.3% | 2.3 yr |
| GOOGAlphabet Inc. | $365M | 1.6% | +84.3% | 5.5 yr |
| INTCIntel Corporation | $357M | 1.6% | +94.3% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors25.5%+10.8pp$5.81B
Biotechnology12.0%+3.1pp$2.73B
Hardware, Equipment & Parts11.5%+7.4pp$2.61B
Internet Content & Information6.6%-3.9pp$1.51B
Insurance - Property & Casualty4.2%-2.2pp$960M
Software - Infrastructure4.2%-6.6pp$950M
Computer Hardware4.0%+3.2pp$903M
Communication Equipment3.9%+2.8pp$883M
Insurance - Reinsurance2.5%-1.0pp$576M
Specialty Retail2.4%-2.9pp$542M
Country
US82.0%+6.6pp
BM4.1%-1.8pp
CA3.4%+1.0pp
SG3.2%+1.4pp
Unknown1.7%+0.0pp
CH1.1%-0.7pp
KY0.8%+0.6pp
IL0.8%-1.5pp
Top 5: 21.1% · Top 10: 31.0% · Top 25: 52.8%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$368M |
| INTC Intel Corporation | +$236M |
| FORM FormFactor, Inc.new | +$222M |
| VRT Vertiv Holdings Co | +$179M |
| AKAM Akamai Technologies, Inc.new | +$149M |
| GLW Corning Incorporated | +$142M |
| AMD Advanced Micro Devices, Inc. | +$131M |
| ANET Arista Networks, Inc. | +$121M |
| XENE Xenon Pharmaceuticals Inc. | +$113M |
| PLTR Palantir Technologies Inc. | +$106M |
Top sells this quarter · 15
| SNDK Sandisk Corporation | −$301M |
| LITE Lumentum Holdings Inc. | −$379M |
| LRCX Lam Research Corporation | −$205M |
| CIEN Ciena Corporation | −$302M |
| MSFT Microsoft Corporation | −$150M |
| APLS Apellis Pharmaceuticals, Inc.exit | −$149M |
| FSLR First Solar, Inc. | −$129M |
| STX Seagate Technology Holdings pl | −$339M |
| CSCO Cisco Systems, Inc. | −$106M |
| KLAC KLA Corporation | −$104M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $22.76B | 221 | +64.44% | +17.59% | +46.85% | +0.06B |
| 2025-12-31 | $21.69B | 233 | +42.18% | +17.72% | +24.46% | -0.70B |
| 2025-09-30 | $20.60B | 234 | +36.32% | +17.52% | +18.80% | -1.51B |
| 2025-06-30 | $18.93B | 248 | +19.65% | +14.94% | +4.71% | -0.84B |
| 2025-03-31 | $15.97B | 255 | -0.52% | +8.30% | -8.82% | -0.04B |
| 2024-12-31 | $17.70B | 270 | +21.60% | +24.89% | -3.28% | +0.19B |
| 2024-09-30 | $16.80B | 260 | +35.15% | +36.04% | -0.89% | -0.43B |
| 2024-06-30 | $16.80B | 245 | +26.54% | +24.49% | +2.05% | -0.06B |
| 2024-03-31 | $16.39B | 249 | +34.29% | +29.62% | +4.67% | +0.69B |
| 2023-12-31 | $14.19B | 248 | +34.24% | +26.18% | +8.06% | -1.16B |
| 2023-09-30 | $13.25B | 250 | +19.13% | +21.57% | -2.44% | -0.39B |
| 2023-06-30 | $14.21B | 248 | +20.01% | +19.42% | +0.58% | -0.29B |
| 2023-03-31 | $13.27B | 255 | -11.80% | -7.82% | -3.98% | -0.14B |
| 2022-12-31 | $12.13B | 274 | +2.79% | +7.56% | -4.78% | -0.23B |
| 2022-09-30 | $12.03B | 378 | -3.29% | -4.93% | +1.64% | -0.21B |
| 2022-06-30 | $12.65B | 402 | -19.75% | -16.11% | -3.64% | -0.71B |