Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.57%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.56%
steady accumulation
Rally response
+2.14%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $2.76B | 4.0% | — | 3.5 yr |
| AAPLApple Inc. | $2.61B | 3.8% | +14.7% | 3.5 yr |
| MSFTMicrosoft Corporation | $2.12B | 3.1% | -0.6% | 3.5 yr |
| VEAVanguard FTSE Developed | $2.09B | 3.0% | — | 3.5 yr |
| NVDANVIDIA Corporation | $1.91B | 2.7% | +60.9% | 3.5 yr |
| VOOVanguard S&P 500 ETF | $1.70B | 2.4% | — | 3.5 yr |
| GOOGLAlphabet Inc. | $1.37B | 2.0% | — | 3.5 yr |
| AMZNAmazon.com, Inc. | $1.33B | 1.9% | +9.5% | 3.5 yr |
| GOOGAlphabet Inc. | $1.27B | 1.8% | +84.3% | 3.5 yr |
| AVGOBroadcom Inc. | $1.13B | 1.6% | +86.0% | 3.5 yr |
| SPYState Street SPDR S&P 50 | $966M | 1.4% | +17.6% | 3.5 yr |
| JPMJPMorgan Chase & Co. | $928M | 1.3% | +21.8% | 3.5 yr |
| BRK-BBerkshire Hathaway Inc. | $832M | 1.2% | — | 3.5 yr |
| COSTCostco Wholesale Corpora | $733M | 1.1% | +5.9% | 3.5 yr |
| JNJJohnson & Johnson | $650M | 0.9% | +51.5% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management35.3%+3.5pp$24.49B
Semiconductors6.8%+2.1pp$4.71B
Internet Content & Information4.7%+1.1pp$3.26B
Software - Infrastructure3.8%-0.6pp$2.67B
Consumer Electronics3.8%-0.4pp$2.62B
Drug Manufacturers - General3.7%+0.1pp$2.57B
Specialty Retail2.5%-0.2pp$1.72B
Banks - Diversified2.0%+0.0pp$1.36B
Industrial - Machinery1.8%+0.0pp$1.27B
Financial - Credit Services1.8%-0.6pp$1.26B
Country
US96.1%+0.2pp
IE0.9%-0.1pp
GB0.7%-0.1pp
CH0.5%+0.0pp
NL0.4%+0.1pp
CA0.4%-0.2pp
Unknown0.3%-0.1pp
TW0.2%+0.1pp
Top 5: 16.5% · Top 10: 26.3% · Top 25: 40.0%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$128M |
| UNH UnitedHealth Group Incorporate | +$61M |
| SYK Stryker Corporation | +$38M |
| MLM Martin Marietta Materials, Inc | +$34M |
| CB Chubb Limited | +$31M |
| TSLA Tesla, Inc. | +$310M |
| BA The Boeing Company | +$30M |
| MS Morgan Stanley | +$30M |
| GD General Dynamics Corporation | +$28M |
| POOL Pool Corporation | +$28M |
Top sells this quarter · 15
| PWR Quanta Services, Inc. | −$618M |
| RTX RTX Corporation | −$459M |
| AMZN Amazon.com, Inc. | −$203M |
| GOOG Alphabet Inc. | −$200M |
| AAPL Apple Inc. | −$148M |
| MSFT Microsoft Corporation | −$136M |
| PANW Palo Alto Networks, Inc. | −$108M |
| BN Brookfield Corporation | −$104M |
| COST Costco Wholesale Corporation | −$100M |
| ITW Illinois Tool Works Inc. | −$96M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $69.47B | 2783 | +13.08% | +17.59% | -4.51% | -1.78B |
| 2025-12-31 | $73.82B | 2675 | +13.16% | +17.72% | -4.56% | +9.15B |
| 2025-09-30 | $63.27B | 2508 | +11.20% | +17.52% | -6.32% | -15.96B |
| 2025-06-30 | $74.83B | 2520 | +11.32% | +14.94% | -3.62% | +8.96B |
| 2025-03-31 | $60.84B | 2260 | +4.89% | +8.30% | -3.42% | +3.17B |
| 2024-12-31 | $59.71B | 2296 | +17.37% | +24.89% | -7.52% | -3.40B |
| 2024-09-30 | $62.83B | 2399 | +30.19% | +36.04% | -5.84% | +2.38B |
| 2024-06-30 | $57.03B | 2300 | +18.48% | +24.49% | -6.01% | +0.27B |
| 2024-03-31 | $55.65B | 2256 | +24.49% | +29.62% | -5.13% | -2.79B |
| 2023-12-31 | $54.06B | 2239 | +22.64% | +26.18% | -3.54% | +6.07B |
| 2023-09-30 | $43.08B | 2118 | -3.55% | -3.22% | -0.32% | +1.67B |
| 2023-06-30 | $42.93B | 2047 | +7.18% | +8.68% | -1.50% | +3.38B |
| 2023-03-31 | $36.90B | 1974 | +6.48% | +7.46% | -0.98% | +7.89B |
| 2022-12-31 | $27.25B | 1674 | — | — | — | — |