Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.77%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.18%
baseline attrition
Rally response
-9.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $5.20B | 3.6% | +9.5% | 3.8 yr |
| MSFTMicrosoft Corporation | $4.72B | 3.2% | -0.6% | 3.8 yr |
| AAPLApple Inc. | $3.98B | 2.7% | +14.7% | 3.8 yr |
| METAMeta Platforms, Inc. | $3.93B | 2.7% | -0.4% | 3.8 yr |
| NVDANVIDIA Corporation | $3.39B | 2.3% | +60.9% | 3.8 yr |
| PTCPTC Inc. | $2.72B | 1.9% | -8.0% | 3.8 yr |
| CNPCenterPoint Energy, Inc. | $2.56B | 1.8% | +21.9% | 3.0 yr |
| GOOGLAlphabet Inc. | $2.54B | 1.7% | — | 3.8 yr |
| NINiSource Inc. | $2.32B | 1.6% | +19.6% | 2.3 yr |
| ABCAmerisourceBergen Corpor | $1.98B | 1.4% | — | 1.5 yr |
| AVGOBroadcom Inc. | $1.97B | 1.4% | +86.0% | 2.0 yr |
| PKIPerkinElmer, Inc. | $1.94B | 1.3% | — | 3.8 yr |
| ALNYAlnylam Pharmaceuticals, | $1.72B | 1.2% | +22.5% | 3.8 yr |
| YUMYum! Brands, Inc. | $1.54B | 1.1% | +0.7% | 3.8 yr |
| AMDAdvanced Micro Devices, | $1.52B | 1.0% | +98.0% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors8.6%+3.1pp$12.54B
Biotechnology6.1%+3.6pp$8.86B
Internet Content & Information5.2%+2.9pp$7.53B
Unknown4.9%+2.7pp$7.12B
Medical - Diagnostics & Research4.6%+0.1pp$6.62B
Software - Application4.4%-5.2pp$6.35B
Specialty Retail4.2%+1.0pp$6.16B
Software - Infrastructure3.7%-1.5pp$5.36B
Consumer Electronics2.8%+1.7pp$4.10B
Restaurants2.8%+0.5pp$4.07B
Country
US90.8%+0.0pp
Unknown4.9%+2.7pp
GB1.5%-0.8pp
CA0.9%-1.2pp
DE0.5%+0.5pp
BM0.3%-0.0pp
CH0.2%-0.4pp
NL0.2%-0.4pp
Top 5: 14.6% · Top 10: 23.0% · Top 25: 38.1%
Top buys this quarter · 15
| META Meta Platforms, Inc. | +$2.26B |
| AMZN Amazon.com, Inc. | +$1.50B |
| WAT Waters Corporation | +$1.35B |
| ALNY Alnylam Pharmaceuticals, Inc. | +$1.14B |
| NFLX Netflix, Inc.new | +$731M |
| MSFT Microsoft Corporation | +$4.72B |
| JPM JPMorgan Chase & Co. | +$725M |
| DASH DoorDash, Inc. | +$681M |
| DHR Danaher Corporation | +$491M |
| USFD US Foods Holding Corp. | +$469M |
Top sells this quarter · 15
| ABT Abbott Laboratories | −$1.55B |
| NVDA NVIDIA Corporation | −$1.28B |
| APH Amphenol Corporation | −$1.20B |
| CNQ Canadian Natural Resources Lim | −$1.07B |
| AJG Arthur J. Gallagher & Co. | −$1.06B |
| AEE Ameren Corporation | −$918M |
| YUM Yum! Brands, Inc. | −$853M |
| WTW Willis Towers Watson Public Li | −$823M |
| KKR KKR & Co. Inc.exit | −$796M |
| PPL PPL Corporation | −$749M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $145.22B | 643 | +11.52% | +17.59% | -6.07% | -8.24B |
| 2025-12-31 | $158.43B | 898 | +9.42% | +17.72% | -8.30% | -7.41B |
| 2025-09-30 | $163.59B | 877 | +8.73% | +17.52% | -8.78% | -3.67B |
| 2025-06-30 | $158.37B | 684 | +9.97% | +14.94% | -4.97% | -4.19B |
| 2025-03-31 | $151.17B | 657 | +0.07% | +8.30% | -8.24% | -2.89B |
| 2024-12-31 | $162.11B | 633 | +13.30% | +24.89% | -11.59% | -4.95B |
| 2024-09-30 | $165.83B | 622 | +26.65% | +36.04% | -9.39% | -3.41B |
| 2024-06-30 | $158.45B | 620 | +13.66% | +24.49% | -10.83% | -1.49B |
| 2024-03-31 | $163.45B | 620 | +23.07% | +29.62% | -6.55% | -2.05B |
| 2023-12-31 | $153.80B | 596 | +22.17% | +26.18% | -4.01% | -5.51B |
| 2023-09-30 | $141.47B | 571 | +16.73% | +21.57% | -4.84% | +0.74B |
| 2023-06-30 | $146.81B | 566 | +5.95% | +8.68% | -2.73% | -0.97B |
| 2023-03-31 | $139.48B | 544 | +6.82% | +7.46% | -0.64% | +0.27B |
| 2022-12-31 | $130.33B | 541 | +7.59% | +7.56% | +0.03% | -4.35B |
| 2022-09-30 | $125.18B | 541 | — | — | — | — |