Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.86%
baseline attrition
Rally response
-3.80%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $486M | 7.0% | +60.9% | 1.5 yr |
| GOOGLAlphabet Inc. | $342M | 4.9% | — | 1.5 yr |
| AAPLApple Inc. | $337M | 4.9% | +14.7% | 1.5 yr |
| MSFTMicrosoft Corporation | $254M | 3.7% | -0.6% | 1.5 yr |
| AVGOBroadcom Inc. | $222M | 3.2% | +86.0% | 1.5 yr |
| AMZNAmazon.com, Inc. | $214M | 3.1% | +9.5% | 1.5 yr |
| AMATApplied Materials, Inc. | $124M | 1.8% | +137.6% | 1.5 yr |
| LLYEli Lilly and Company | $121M | 1.7% | +12.2% | 1.5 yr |
| LRCXLam Research Corporation | $99M | 1.4% | +196.1% | 1.5 yr |
| TSMTaiwan Semiconductor Man | $98M | 1.4% | +105.6% | 1.5 yr |
| JPMJPMorgan Chase & Co. | $93M | 1.3% | +21.8% | 1.5 yr |
| CSCOCisco Systems, Inc. | $81M | 1.2% | +28.1% | 1.5 yr |
| ABBVAbbVie Inc. | $79M | 1.1% | +7.3% | 1.5 yr |
| VVisa Inc. | $76M | 1.1% | -13.1% | 1.5 yr |
| PWRQuanta Services, Inc. | $73M | 1.1% | +116.2% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors19.5%+7.8pp$1.35B
Internet Content & Information6.9%+1.5pp$476M
Drug Manufacturers - General5.9%-0.7pp$406M
Software - Infrastructure5.2%-2.2pp$363M
Consumer Electronics4.9%+0.0pp$337M
Specialty Retail4.5%+2.6pp$314M
Banks - Diversified3.0%+1.1pp$210M
Software - Application2.9%-3.1pp$201M
Financial - Credit Services2.9%-1.4pp$199M
Industrial - Machinery2.8%-0.3pp$197M
Country
US92.4%-0.6pp
IE2.0%-0.5pp
TW1.5%+1.0pp
GB1.0%-0.5pp
LU0.8%+0.5pp
IL0.6%+0.2pp
CN0.4%+0.2pp
SG0.2%+0.1pp
Top 5: 23.6% · Top 10: 33.1% · Top 25: 48.1%
Top buys this quarter · 15
| ANET Arista Networks, Inc. | +$66M |
| LRCX Lam Research Corporation | +$62M |
| NEM Newmont Corporation | +$59M |
| TSM Taiwan Semiconductor Manufactu | +$47M |
| NFLX Netflix, Inc. | +$42M |
| AVGO Broadcom Inc. | +$39M |
| PFE Pfizer Inc. | +$37M |
| ISRG Intuitive Surgical, Inc. | +$35M |
| ROK Rockwell Automation, Inc. | +$34M |
| MS Morgan Stanley | +$30M |
Top sells this quarter · 15
| FERG Ferguson plc | −$120M |
| KEYS Keysight Technologies, Inc. | −$47M |
| V Visa Inc. | −$43M |
| AAPL Apple Inc. | −$37M |
| SFM Sprouts Farmers Market, Inc.exit | −$34M |
| ORCL Oracle Corporation | −$29M |
| DIS The Walt Disney Company | −$28M |
| MSI Motorola Solutions, Inc. | −$28M |
| UNP Union Pacific Corporation | −$26M |
| VRSK Verisk Analytics, Inc. | −$25M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.94B | 625 | +14.56% | +17.59% | -3.03% | -0.41B |
| 2025-12-31 | $7.73B | 599 | +13.97% | +17.72% | -3.75% | +0.16B |
| 2025-09-30 | $7.50B | 593 | +6.12% | +8.12% | -2.00% | +0.36B |
| 2025-06-30 | $6.73B | 589 | +12.50% | +10.78% | +1.73% | -0.32B |
| 2025-03-31 | $6.27B | 606 | -5.48% | -4.27% | -1.21% | +0.03B |
| 2024-12-31 | $6.60B | 601 | — | — | — | — |