Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.30%
adds when stocks drop
when a holding falls −10%+
Middle response
+10.00%
steady accumulation
Rally response
+8.36%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $1.79B | 12.6% | +105.6% | 3.5 yr |
| GOOGLAlphabet Inc. | $1.49B | 10.5% | — | 3.5 yr |
| MSFTMicrosoft Corporation | $1.06B | 7.5% | -0.6% | 3.5 yr |
| MCOMoody's Corporation | $1.03B | 7.2% | -5.6% | 3.5 yr |
| MAMastercard Incorporated | $905M | 6.4% | -8.5% | 3.5 yr |
| AZOAutoZone, Inc. | $868M | 6.1% | -11.4% | 3.5 yr |
| CMECME Group Inc. | $766M | 5.4% | +15.6% | 3.5 yr |
| TJXThe TJX Companies, Inc. | $624M | 4.4% | +32.7% | 3.5 yr |
| SHWThe Sherwin-Williams Com | $534M | 3.8% | -7.4% | 3.5 yr |
| MSCIMSCI Inc. | $526M | 3.7% | -3.4% | 3.5 yr |
| JNJJohnson & Johnson | $437M | 3.1% | +51.5% | 3.5 yr |
| MTDMettler-Toledo Internati | $407M | 2.9% | +6.8% | 3.5 yr |
| PEPPepsiCo, Inc. | $370M | 2.6% | +7.7% | 3.5 yr |
| CARRCarrier Global Corporati | $370M | 2.6% | -9.9% | 3.5 yr |
| OTISOtis Worldwide Corporati | $346M | 2.4% | -23.9% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Financial - Data & Stock Exchanges18.5%-0.6pp$2.63B
Semiconductors15.5%+5.8pp$2.21B
Internet Content & Information10.5%+2.8pp$1.49B
Specialty Retail8.3%+0.5pp$1.18B
Software - Infrastructure7.5%-3.8pp$1.06B
Industrial - Machinery7.2%-0.7pp$1.03B
Financial - Credit Services7.0%+0.9pp$1.00B
Apparel - Retail4.4%+0.2pp$624M
Chemicals - Specialty3.8%-0.3pp$535M
Drug Manufacturers - General3.1%+0.5pp$437M
Country
US86.8%-2.7pp
TW12.6%+4.1pp
IN0.7%-1.3pp
Top 5: 44.0% · Top 10: 67.4% · Top 25: 97.3%
Top buys this quarter · 4
| KLAC KLA Corporationnew | +$158M |
| SUNB Sunbelt Rentals Holdings Incnew | +$96M |
| AMZN Amazon.com, Inc. | +$93M |
| MA Mastercard Incorporated | +$905M |
Top sells this quarter · 15
| TSM Taiwan Semiconductor Manufactu | −$324M |
| ORCL Oracle Corporationexit | −$264M |
| HDB HDFC Bank Limited | −$113M |
| JNJ Johnson & Johnson | −$428M |
| TJX The TJX Companies, Inc. | −$51M |
| AZO AutoZone, Inc. | −$42M |
| SPGI S&P Global Inc. | −$36M |
| CARR Carrier Global Corporation | −$33M |
| MSFT Microsoft Corporation | −$24M |
| PEP PepsiCo, Inc. | −$363M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $14.23B | 44 | +6.88% | +17.59% | -10.71% | -1.20B |
| 2025-12-31 | $16.09B | 43 | +10.03% | +17.72% | -7.68% | +0.33B |
| 2025-09-30 | $16.07B | 43 | +10.08% | +17.52% | -7.43% | -0.27B |
| 2025-06-30 | $15.45B | 44 | +13.77% | +14.94% | -1.17% | +1.21B |
| 2025-03-31 | $13.25B | 45 | +6.86% | +8.30% | -1.44% | +2.71B |
| 2024-12-31 | $10.67B | 45 | +16.94% | +24.89% | -7.95% | +0.51B |
| 2024-09-30 | $10.36B | 44 | +32.52% | +36.04% | -3.52% | +0.06B |
| 2024-06-30 | $9.42B | 43 | +15.67% | +24.49% | -8.82% | +3.07B |
| 2024-03-31 | $6.29B | 44 | +22.76% | +29.62% | -6.86% | -3.77B |
| 2023-12-31 | $9.31B | 44 | +20.33% | +26.18% | -5.85% | +1.60B |
| 2023-09-30 | $6.93B | 44 | -4.62% | -3.22% | -1.40% | +4.96B |
| 2023-06-30 | $2.07B | 28 | +7.20% | +8.68% | -1.48% | -2.36B |
| 2023-03-31 | $4.14B | 28 | +5.91% | +7.46% | -1.55% | +3.57B |
| 2022-12-31 | $533M | 27 | — | — | — | — |