Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.09%
trims when stocks drop
when a holding falls −10%+
Middle response
-16.24%
baseline attrition
Rally response
-0.70%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPDWState Street SPDR Portfo | $276M | 6.6% | — | 0.3 yr |
| AAPLApple Inc. | $256M | 6.1% | +14.7% | 1.5 yr |
| NVDANVIDIA Corporation | $249M | 5.9% | +60.9% | 1.5 yr |
| GDXJVanEck Junior Gold Miner | $197M | 4.7% | — | 1.3 yr |
| VEAVanguard FTSE Developed | $143M | 3.4% | — | 0.5 yr |
| AMZNAmazon.com, Inc. | $133M | 3.2% | +9.5% | 1.5 yr |
| SNDKSandisk Corporation | $131M | 3.1% | +1234.5% | 0.5 yr |
| IXUSiShares Core MSCI Total | $122M | 2.9% | — | 0.3 yr |
| TERNTerns Pharmaceuticals, I | $113M | 2.7% | — | 0.5 yr |
| CATCaterpillar Inc. | $108M | 2.6% | +117.8% | 0.5 yr |
| AVGOBroadcom Inc. | $93M | 2.2% | +86.0% | 1.5 yr |
| JNJJohnson & Johnson | $90M | 2.2% | +51.5% | 0.5 yr |
| ACWIiShares MSCI ACWI ETF | $89M | 2.1% | — | 0.3 yr |
| GOOGLAlphabet Inc. | $84M | 2.0% | — | 1.5 yr |
| GDXVanEck Gold Miners ETF | $83M | 2.0% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management29.7%+2.4pp$1.24B
Semiconductors11.5%-1.2pp$480M
Biotechnology6.5%$270M
Consumer Electronics6.1%+4.5pp$256M
Drug Manufacturers - General3.7%+1.8pp$155M
Internet Content & Information3.5%-2.8pp$145M
Specialty Retail3.4%+1.0pp$142M
Hardware, Equipment & Parts3.3%$137M
Agricultural - Machinery2.6%+2.1pp$108M
Software - Infrastructure2.2%-3.2pp$93M
Country
US98.8%+0.5pp
CN0.5%
MX0.3%
IE0.2%-0.9pp
IN0.1%
Unknown0.1%
Top 5: 26.7% · Top 10: 41.2% · Top 25: 68.3%
Top buys this quarter · 15
| CAT Caterpillar Inc. | +$105M |
| AMZN Amazon.com, Inc. | +$76M |
| NEM Newmont Corporationnew | +$76M |
| TER Teradyne, Inc.new | +$67M |
| RVMD Revolution Medicines, Inc.new | +$66M |
| NCLH Norwegian Cruise Line Holdingsnew | +$64M |
| AAPL Apple Inc. | +$62M |
| WFC Wells Fargo & Company | +$51M |
| PG The Procter & Gamble Company | +$47M |
| JNJ Johnson & Johnson | +$47M |
Top sells this quarter · 15
| MU Micron Technology, Inc.exit | −$233M |
| MSFT Microsoft Corporation | −$213M |
| WMT Walmart Inc.exit | −$206M |
| META Meta Platforms, Inc. | −$173M |
| AVGO Broadcom Inc. | −$156M |
| LRCX Lam Research Corporation | −$150M |
| MRVL Marvell Technology, Inc.exit | −$148M |
| GILD Gilead Sciences, Inc. | −$113M |
| TSLA Tesla, Inc.exit | −$106M |
| LUV Southwest Airlines Co.exit | −$105M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.19B | 81 | +33.14% | +17.59% | +15.55% | -1.50B |
| 2025-12-31 | $5.70B | 102 | +25.67% | +17.72% | +7.95% | -2.02B |
| 2025-09-30 | $7.48B | 144 | +11.36% | +8.12% | +3.24% | +0.52B |
| 2025-06-30 | $6.25B | 103 | +16.12% | +10.78% | +5.34% | +2.17B |
| 2025-03-31 | $3.51B | 89 | -5.81% | -4.27% | -1.55% | +0.21B |
| 2024-12-31 | $3.50B | 78 | — | — | — | — |