Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.20%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.50%
baseline attrition
Rally response
-3.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $360M | 7.5% | +60.9% | 1.5 yr |
| MSFTMicrosoft Corporation | $225M | 4.7% | -0.6% | 1.5 yr |
| AAPLApple Inc. | $148M | 3.1% | +14.7% | 1.5 yr |
| GOOGLAlphabet Inc. | $143M | 3.0% | — | 1.5 yr |
| AZNAstraZeneca PLC | $140M | 2.9% | +36.2% | 0.3 yr |
| ARCCAres Capital Corporation | $136M | 2.8% | -10.7% | 1.5 yr |
| GOOGAlphabet Inc. | $123M | 2.6% | +84.3% | 1.5 yr |
| TOTB.DETotalEnergies SE | $109M | 2.3% | +41.2% | 0.5 yr |
| MDYState Street SPDR S&P MI | $98M | 2.0% | — | 0.3 yr |
| TSLATesla, Inc. | $87M | 1.8% | +43.4% | 1.5 yr |
| UBSUBS Group AG | $82M | 1.7% | +31.6% | 1.5 yr |
| AVGOBroadcom Inc. | $78M | 1.6% | +86.0% | 1.5 yr |
| AMZNAmazon.com, Inc. | $73M | 1.5% | +9.5% | 1.5 yr |
| BXSLBlackstone Secured Lendi | $60M | 1.2% | — | 1.5 yr |
| AEMAgnico Eagle Mines Limit | $58M | 1.2% | +89.2% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.9%+3.4pp$619M
Asset Management9.0%+0.9pp$429M
Internet Content & Information6.9%+1.4pp$333M
Drug Manufacturers - General6.3%+2.7pp$301M
Software - Infrastructure5.7%-1.3pp$272M
Banks - Diversified5.3%+0.6pp$254M
Financial - Credit Services3.5%-1.2pp$169M
Auto - Manufacturers3.2%+0.1pp$154M
Consumer Electronics3.1%-0.7pp$148M
Oil & Gas Integrated3.0%+2.1pp$144M
Country
US81.2%-5.1pp
CA5.3%-0.4pp
GB3.6%+2.6pp
FR2.3%
CH2.2%+0.6pp
IE1.4%-0.5pp
Unknown0.9%+0.1pp
NL0.7%-0.5pp
Top 5: 21.2% · Top 10: 32.7% · Top 25: 48.9%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$188M |
| ARCC Ares Capital Corporation | +$45M |
| CCJ Cameco Corporation | +$16M |
| SUNB Sunbelt Rentals Holdings Incnew | +$9M |
| NXE NexGen Energy Ltd.new | +$8M |
| UBS UBS Group AG | +$82M |
| CVX Chevron Corporation | +$5M |
| TOTB.DE TotalEnergies SE | +$4M |
| SHOP Shopify Inc. | +$3M |
| RACE Ferrari N.V. | +$27M |
Top sells this quarter · 15
| NEM Newmont Corporation | −$27M |
| WPM Wheaton Precious Metals Corp. | −$18M |
| AEM Agnico Eagle Mines Limited | −$17M |
| NVDA NVIDIA Corporation | −$8M |
| AAPL Apple Inc. | −$7M |
| MPWR Monolithic Power Systems, Inc. | −$6M |
| LLY Eli Lilly and Company | −$4M |
| MSFT Microsoft Corporation | −$4M |
| CSCO Cisco Systems, Inc. | −$4M |
| TRP TC Energy Corporation | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.79B | 484 | +18.16% | +17.59% | +0.57% | +0.15B |
| 2025-12-31 | $4.89B | 483 | +19.40% | +17.72% | +1.68% | +0.09B |
| 2025-09-30 | $4.68B | 499 | +7.39% | +8.12% | -0.74% | -0.03B |
| 2025-06-30 | $4.39B | 498 | +12.87% | +10.78% | +2.09% | -0.19B |
| 2025-03-31 | $4.06B | 494 | -4.04% | -4.27% | +0.22% | +0.30B |
| 2024-12-31 | $3.91B | 479 | — | — | — | — |