Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.58%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.50%
baseline attrition
Rally response
+1.36%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $73.96B | 5.0% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $57.12B | 3.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $45.63B | 3.1% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $33.95B | 2.3% | +9.5% | 10.5 yr |
| GOOGAlphabet Inc. | $32.73B | 2.2% | +84.3% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $28.94B | 2.0% | +17.6% | 10.5 yr |
| AVGOBroadcom Inc. | $26.93B | 1.8% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $26.92B | 1.8% | -0.4% | 10.5 yr |
| GOOGLAlphabet Inc. | $19.40B | 1.3% | — | 10.5 yr |
| TSLATesla, Inc. | $16.37B | 1.1% | +43.4% | 10.5 yr |
| MAMastercard Incorporated | $16.13B | 1.1% | -8.5% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $15.83B | 1.1% | — | 10.5 yr |
| JNJJohnson & Johnson | $15.30B | 1.0% | +51.5% | 10.5 yr |
| WMTWalmart Inc. | $15.13B | 1.0% | +42.8% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $14.96B | 1.0% | — | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.4%+0.1pp$256.82B
Semiconductors10.6%+3.3pp$155.35B
Internet Content & Information5.6%+0.5pp$82.60B
Drug Manufacturers - General4.4%+0.9pp$64.23B
Software - Infrastructure4.3%-1.3pp$63.17B
Consumer Electronics3.9%+0.5pp$57.33B
Specialty Retail3.2%-0.9pp$47.09B
Asset Management - Bonds2.8%+0.2pp$41.26B
Financial - Credit Services2.1%-0.6pp$30.22B
Banks - Diversified2.0%+0.0pp$29.85B
Country
US93.0%+0.0pp
IE1.7%+0.0pp
CA1.1%+0.2pp
GB0.7%+0.0pp
TW0.5%+0.2pp
Unknown0.5%+0.1pp
NL0.5%-0.0pp
CN0.3%-0.1pp
Top 5: 16.5% · Top 10: 24.6% · Top 25: 37.5%
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$5.51B |
| AZN AstraZeneca PLCnew | +$3.67B |
| META Meta Platforms, Inc. | +$26.92B |
| MRK Merck & Co., Inc. | +$2.86B |
| XOM Exxon Mobil Corporation | +$2.58B |
| LRCX Lam Research Corporation | +$1.97B |
| AZO AutoZone, Inc. | +$1.96B |
| TXN Texas Instruments Incorporated | +$1.95B |
| APH Amphenol Corporation | +$1.89B |
| PG The Procter & Gamble Company | +$1.88B |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$7.64B |
| PLTR Palantir Technologies Inc. | −$2.05B |
| SHOP Shopify Inc. | −$1.89B |
| SO The Southern Company | −$1.78B |
| BKR Baker Hughes Company | −$1.75B |
| NET Cloudflare, Inc. | −$1.59B |
| HWM Howmet Aerospace Inc. | −$1.55B |
| NVDA NVIDIA Corporation | −$1.45B |
| HOOD Robinhood Markets, Inc. | −$1.43B |
| BAC Bank of America Corporation | −$1.43B |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.47T | 6514 | +15.74% | +17.59% | -1.86% | +63.19B |
| 2025-12-31 | $1.48T | 6098 | +16.08% | +17.72% | -1.63% | -107.00B |
| 2025-09-30 | $1.57T | 6057 | +16.03% | +17.52% | -1.49% | +3.66B |
| 2025-06-30 | $1.45T | 5866 | +14.23% | +14.94% | -0.71% | -9.55B |
| 2025-03-31 | $1.31T | 6122 | +4.05% | +8.30% | -4.26% | +108.14B |
| 2024-12-31 | $1.26T | 6030 | +19.18% | +24.89% | -5.71% | -3.61B |
| 2024-09-30 | $1.25T | 6051 | +31.55% | +36.04% | -4.48% | +19.54B |
| 2024-06-30 | $1.16T | 6028 | +19.75% | +24.49% | -4.74% | +18.66B |
| 2024-03-31 | $1.12T | 6074 | +26.01% | +29.62% | -3.61% | +57.43B |
| 2023-12-31 | $976.17B | 6194 | +21.57% | +26.18% | -4.61% | +19.65B |
| 2023-09-30 | $854.24B | 6204 | +16.97% | +21.57% | -4.60% | +13.84B |
| 2023-06-30 | $870.82B | 5693 | +16.40% | +19.42% | -3.03% | +50.97B |
| 2023-03-31 | $767.25B | 5492 | -7.01% | -7.82% | +0.80% | +27.95B |
| 2022-12-31 | $702.21B | 5254 | -15.76% | -18.17% | +2.42% | +9.26B |
| 2022-09-30 | $643.21B | 5211 | -13.15% | -15.51% | +2.36% | -2.44B |
| 2022-06-30 | $672.27B | 5274 | -9.05% | -10.62% | +1.57% | +15.14B |