Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.75%
trims when stocks drop
when a holding falls −10%+
Middle response
-17.86%
baseline attrition
Rally response
-15.17%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $558M | 7.5% | +14.7% | 2.5 yr |
| NVDANVIDIA Corporation | $508M | 6.8% | +60.9% | 2.8 yr |
| MSFTMicrosoft Corporation | $324M | 4.3% | -0.6% | 2.8 yr |
| GOOGLAlphabet Inc. | $246M | 3.3% | — | 2.8 yr |
| AVGOBroadcom Inc. | $245M | 3.3% | +86.0% | 2.8 yr |
| TSLATesla, Inc. | $226M | 3.0% | +43.4% | 2.8 yr |
| LLYEli Lilly and Company | $212M | 2.8% | +12.2% | 2.8 yr |
| MSMorgan Stanley | $144M | 1.9% | +44.8% | 2.8 yr |
| PYPLPayPal Holdings, Inc. | $136M | 1.8% | -30.3% | 1.0 yr |
| LRCXLam Research Corporation | $135M | 1.8% | +196.1% | 1.3 yr |
| CCitigroup Inc. | $135M | 1.8% | +63.9% | 2.3 yr |
| AMDAdvanced Micro Devices, | $131M | 1.8% | +98.0% | 2.5 yr |
| NFLXNetflix, Inc. | $126M | 1.7% | +3.1% | 2.8 yr |
| METAMeta Platforms, Inc. | $119M | 1.6% | -0.4% | 2.8 yr |
| MUMicron Technology, Inc. | $113M | 1.5% | +289.6% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.1%+8.9pp$1.50B
Software - Infrastructure8.7%-1.1pp$649M
Consumer Electronics7.5%+1.2pp$558M
Drug Manufacturers - General6.1%-0.1pp$453M
Internet Content & Information5.2%-1.8pp$391M
Banks - Diversified3.9%+0.2pp$292M
Financial - Credit Services3.9%-0.5pp$287M
Auto - Manufacturers3.5%+2.1pp$264M
Financial - Capital Markets3.1%+1.0pp$231M
Software - Application2.6%-1.2pp$196M
Country
US99.9%-0.0pp
Unknown0.1%+0.1pp
GB0.0%
CA0.0%+0.0pp
AU0.0%-0.0pp
Top 5: 25.2% · Top 10: 36.7% · Top 25: 56.3%
Top buys this quarter · 15
| PYPL PayPal Holdings, Inc. | +$157M |
| LLY Eli Lilly and Company | +$130M |
| MU Micron Technology, Inc. | +$128M |
| LRCX Lam Research Corporation | +$123M |
| TSLA Tesla, Inc. | +$117M |
| AVGO Broadcom Inc. | +$117M |
| AAPL Apple Inc. | +$99M |
| MS Morgan Stanley | +$84M |
| C Citigroup Inc. | +$78M |
| HOOD Robinhood Markets, Inc. | +$76M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$124M |
| MSFT Microsoft Corporation | −$110M |
| AMAT Applied Materials, Inc. | −$78M |
| GILD Gilead Sciences, Inc. | −$74M |
| ICE Intercontinental Exchange, Inc | −$61M |
| WFC Wells Fargo & Company | −$58M |
| AMD Advanced Micro Devices, Inc. | −$44M |
| COHR Coherent, Inc. | −$44M |
| CL Colgate-Palmolive Company | −$43M |
| DHI D.R. Horton, Inc. | −$36M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.45B | 323 | +17.77% | +17.59% | +0.17% | +0.95B |
| 2025-12-31 | $6.88B | 342 | +16.50% | +17.72% | -1.22% | +2.17B |
| 2025-09-30 | $4.62B | 269 | +19.22% | +17.52% | +1.70% | +0.43B |
| 2025-06-30 | $3.90B | 282 | +13.69% | +13.45% | +0.24% | -0.25B |
| 2025-03-31 | $3.65B | 326 | +10.59% | +13.05% | -2.47% | -0.14B |
| 2024-12-31 | $4.06B | 334 | +31.13% | +31.84% | -0.71% | +0.30B |
| 2024-06-30 | $3.61B | 327 | +20.57% | +24.49% | -3.93% | +0.19B |
| 2024-03-31 | $3.32B | 258 | +23.90% | +29.62% | -5.72% | +0.24B |
| 2023-12-31 | $2.79B | 245 | +10.82% | +11.64% | -0.82% | -0.11B |
| 2023-09-30 | $2.61B | 234 | -4.11% | -3.22% | -0.89% | +0.20B |
| 2023-06-30 | $2.51B | 107 | +5.43% | +8.68% | -3.25% | -4.48B |
| 2023-03-31 | $6.64B | 34 | — | — | — | — |