Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.12%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.07%
baseline attrition
Rally response
-1.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $680M | 6.3% | +60.9% | 4.5 yr |
| MSFTMicrosoft Corporation | $619M | 5.8% | -0.6% | 4.5 yr |
| GOOGLAlphabet Inc. | $571M | 5.3% | — | 4.5 yr |
| AMZNAmazon.com, Inc. | $549M | 5.1% | +9.5% | 4.5 yr |
| AAPLApple Inc. | $538M | 5.0% | +14.7% | 4.5 yr |
| METAMeta Platforms, Inc. | $310M | 2.9% | -0.4% | 4.3 yr |
| KOThe Coca-Cola Company | $309M | 2.9% | +9.3% | 4.5 yr |
| TMOThermo Fisher Scientific | $286M | 2.7% | -0.9% | 4.5 yr |
| JPMJPMorgan Chase & Co. | $279M | 2.6% | +21.8% | 4.5 yr |
| VVisa Inc. | $261M | 2.4% | -13.1% | 4.5 yr |
| MCDMcDonald's Corporation | $235M | 2.2% | +1.8% | 4.5 yr |
| VRTXVertex Pharmaceuticals I | $228M | 2.1% | -7.9% | 4.5 yr |
| AVGOBroadcom Inc. | $212M | 2.0% | +86.0% | 4.5 yr |
| ABBVAbbVie Inc. | $207M | 1.9% | +7.3% | 4.5 yr |
| ABTAbbott Laboratories | $187M | 1.7% | -21.1% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.3%+6.5pp$1.44B
Internet Content & Information9.0%+2.1pp$973M
Software - Infrastructure8.0%-1.8pp$862M
Specialty Retail5.9%-0.2pp$637M
Drug Manufacturers - General5.2%+1.4pp$561M
Consumer Electronics5.0%-1.1pp$539M
Banks - Diversified4.9%+0.9pp$528M
Beverages - Non-Alcoholic3.6%-0.1pp$391M
Financial - Credit Services3.6%-1.6pp$387M
Medical - Diagnostics & Research3.2%-0.3pp$342M
Country
US96.7%-1.1pp
TW1.7%+1.0pp
UY0.3%+0.1pp
IN0.3%-0.1pp
BR0.2%+0.1pp
CN0.2%+0.0pp
KR0.1%-0.0pp
MX0.1%-0.0pp
Top 5: 27.5% · Top 10: 40.9% · Top 25: 62.7%
Top buys this quarter · 15
| SPGI S&P Global Inc. | +$111M |
| GE GE Aerospace | +$95M |
| FAST Fastenal Company | +$29M |
| MU Micron Technology, Inc. | +$28M |
| ABBV AbbVie Inc. | +$25M |
| URI United Rentals, Inc. | +$22M |
| TSLA Tesla, Inc. | +$15M |
| APP AppLovin Corporation | +$14M |
| AVGO Broadcom Inc. | +$212M |
| NFLX Netflix, Inc. | +$11M |
Top sells this quarter · 15
| CRM Salesforce, Inc. | −$89M |
| PEP PepsiCo, Inc. | −$24M |
| SHW The Sherwin-Williams Company | −$14M |
| TSM Taiwan Semiconductor Manufactu | −$162M |
| AXP American Express Company | −$13M |
| DELL Dell Technologies Inc. | −$13M |
| AZO AutoZone, Inc. | −$10M |
| C Citigroup Inc. | −$8M |
| AMAT Applied Materials, Inc. | −$39M |
| NOW ServiceNow, Inc. | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $10.76B | 710 | +9.84% | +17.59% | -7.75% | +0.06B |
| 2025-12-31 | $11.46B | 719 | +13.26% | +17.72% | -4.46% | -0.13B |
| 2025-09-30 | $11.33B | 721 | +11.13% | +17.52% | -6.39% | +0.29B |
| 2025-06-30 | $10.45B | 717 | +11.22% | +14.94% | -3.72% | -0.12B |
| 2025-03-31 | $9.70B | 737 | +3.97% | +8.30% | -4.33% | +0.35B |
| 2024-12-31 | $9.72B | 748 | +15.64% | +24.89% | -9.24% | -0.37B |
| 2024-09-30 | $10.06B | 754 | +29.88% | +36.04% | -6.16% | +0.13B |
| 2024-06-30 | $9.39B | 753 | +17.28% | +24.49% | -7.21% | +0.17B |
| 2024-03-31 | $9.06B | 752 | +24.25% | +29.62% | -5.38% | +0.68B |
| 2023-12-31 | $7.82B | 748 | +24.29% | +26.18% | -1.89% | +0.35B |
| 2023-09-30 | $6.63B | 722 | +18.76% | +21.57% | -2.81% | -0.41B |
| 2023-06-30 | $7.38B | 731 | +17.43% | +19.42% | -1.99% | +0.44B |
| 2023-03-31 | $6.43B | 725 | -6.16% | -7.82% | +1.66% | +0.15B |
| 2022-12-31 | $5.86B | 714 | +7.66% | +7.56% | +0.10% | -0.07B |
| 2022-09-30 | $5.51B | 724 | -5.62% | -4.93% | -0.69% | -0.24B |
| 2022-06-30 | $6.09B | 712 | -13.76% | -16.11% | +2.35% | -0.35B |