Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.97%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.89%
baseline attrition
Rally response
-5.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $4.49B | 4.7% | +60.9% | 2.8 yr |
| MSFTMicrosoft Corporation | $2.48B | 2.6% | -0.6% | 2.8 yr |
| GOOGLAlphabet Inc. | $2.41B | 2.6% | — | 2.8 yr |
| AVGOBroadcom Inc. | $2.34B | 2.5% | +86.0% | 2.8 yr |
| AAPLApple Inc. | $2.30B | 2.4% | +14.7% | 2.8 yr |
| AMZNAmazon.com, Inc. | $1.99B | 2.1% | +9.5% | 2.8 yr |
| UBSUBS Group AG | $1.36B | 1.4% | +31.6% | 2.8 yr |
| KLACKLA Corporation | $1.06B | 1.1% | +118.2% | 2.8 yr |
| TMOThermo Fisher Scientific | $1.01B | 1.1% | -0.9% | 2.8 yr |
| METAMeta Platforms, Inc. | $990M | 1.0% | -0.4% | 2.8 yr |
| AMATApplied Materials, Inc. | $958M | 1.0% | +137.6% | 2.8 yr |
| NEENextEra Energy, Inc. | $896M | 0.9% | +34.9% | 2.8 yr |
| GOOGAlphabet Inc. | $876M | 0.9% | +84.3% | 2.8 yr |
| LLYEli Lilly and Company | $868M | 0.9% | +12.2% | 2.8 yr |
| ECLEcolab Inc. | $867M | 0.9% | +6.0% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.2%+3.7pp$13.46B
Software - Application7.3%-0.9pp$6.94B
Software - Infrastructure6.7%-0.9pp$6.31B
Internet Content & Information5.0%+1.0pp$4.69B
Regulated Electric4.8%+0.4pp$4.58B
Drug Manufacturers - General3.8%+1.0pp$3.57B
Industrial - Machinery3.4%-0.3pp$3.26B
Biotechnology3.4%+0.4pp$3.22B
Specialty Retail3.0%+0.4pp$2.80B
Banks - Diversified2.8%+0.5pp$2.65B
Country
US85.8%-0.1pp
GB2.7%+1.0pp
CA2.4%-0.8pp
IE2.4%-0.1pp
CH2.3%+0.1pp
Unknown1.0%+0.2pp
NL0.9%-0.2pp
AU0.4%+0.3pp
Top 5: 14.8% · Top 10: 21.6% · Top 25: 34.1%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$687M |
| AVGO Broadcom Inc. | +$391M |
| ANET Arista Networks, Inc. | +$241M |
| NOW ServiceNow, Inc. | +$234M |
| ADSK Autodesk, Inc. | +$224M |
| XEL Xcel Energy Inc. | +$191M |
| AXP American Express Company | +$186M |
| DCI Donaldson Company, Inc. | +$151M |
| CRWD CrowdStrike Holdings, Inc. | +$143M |
| SNOW Snowflake Inc. | +$392M |
Top sells this quarter · 15
| TER Teradyne, Inc. | −$291M |
| LRCX Lam Research Corporation | −$271M |
| MSFT Microsoft Corporation | −$248M |
| KLAC KLA Corporation | −$244M |
| MU Micron Technology, Inc. | −$237M |
| AWK American Water Works Company, | −$221M |
| WM Waste Management, Inc. | −$217M |
| SNPS Synopsys, Inc. | −$207M |
| EQIX Equinix, Inc. | −$207M |
| TMO Thermo Fisher Scientific Inc. | −$197M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $94.52B | 2091 | +13.48% | +17.59% | -4.11% | -2.78B |
| 2025-12-31 | $102.74B | 2068 | +14.10% | +17.72% | -3.62% | -1.93B |
| 2025-09-30 | $103.39B | 2020 | +12.08% | +17.52% | -5.44% | -0.73B |
| 2025-06-30 | $98.05B | 1996 | +11.74% | +14.94% | -3.21% | -2.01B |
| 2025-03-31 | $89.77B | 2005 | +0.74% | +8.30% | -7.57% | +1.67B |
| 2024-12-31 | $92.52B | 2036 | +13.82% | +24.89% | -11.07% | +2.32B |
| 2024-09-30 | $90.71B | 2010 | +30.45% | +36.04% | -5.59% | -1.54B |
| 2024-06-30 | $87.15B | 1964 | +0.50% | +4.38% | -3.88% | -5.12B |
| 2024-03-31 | $91.81B | 1966 | +7.59% | +10.39% | -2.81% | -5.67B |
| 2023-12-31 | $90.60B | 1957 | +13.96% | +11.64% | +2.32% | -1.72B |
| 2023-09-30 | $81.01B | 1941 | — | — | — | — |