Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.25%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.51%
baseline attrition
Rally response
-9.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $216M | 6.5% | -0.6% | 1.5 yr |
| GOOGLAlphabet Inc. | $180M | 5.4% | — | 1.5 yr |
| NVDANVIDIA Corporation | $108M | 3.2% | +60.9% | 1.5 yr |
| AMZNAmazon.com, Inc. | $107M | 3.2% | +9.5% | 1.5 yr |
| AAPLApple Inc. | $92M | 2.7% | +14.7% | 1.5 yr |
| UNPUnion Pacific Corporatio | $86M | 2.6% | +5.1% | 1.5 yr |
| CNICanadian National Railwa | $82M | 2.5% | +8.2% | 1.5 yr |
| VVisa Inc. | $81M | 2.4% | -13.1% | 1.5 yr |
| MAMastercard Incorporated | $77M | 2.3% | -8.5% | 1.5 yr |
| TSMTaiwan Semiconductor Man | $74M | 2.2% | +105.6% | 1.5 yr |
| AZNAstraZeneca PLC | $69M | 2.1% | +36.2% | 0.3 yr |
| ADBEAdobe Inc. | $61M | 1.8% | -36.6% | 1.5 yr |
| CLColgate-Palmolive Compan | $60M | 1.8% | -6.8% | 1.5 yr |
| METAMeta Platforms, Inc. | $56M | 1.7% | -0.4% | 1.0 yr |
| ACNAccenture plc | $55M | 1.6% | -35.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure8.5%+0.6pp$286M
Semiconductors8.0%+4.0pp$267M
Internet Content & Information7.3%+4.2pp$245M
Gold7.2%+2.0pp$241M
Software - Application5.4%-1.2pp$181M
Railroads5.0%-0.3pp$168M
Financial - Credit Services4.7%-2.0pp$158M
Medical - Diagnostics & Research4.6%-1.1pp$155M
Household & Personal Products4.3%+0.2pp$145M
Drug Manufacturers - General3.9%+1.4pp$130M
Country
US81.7%-4.4pp
CA9.5%+1.6pp
GB2.4%+2.1pp
TW2.2%+0.9pp
IE2.0%+1.0pp
IL0.8%-0.2pp
CH0.5%-0.7pp
MX0.2%-0.0pp
Top 5: 21.0% · Top 10: 33.0% · Top 25: 55.4%
Top buys this quarter · 1
| AZN AstraZeneca PLCnew | +$74M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.34B | 175 | +4.52% | +17.59% | -13.07% | +0.09B |
| 2025-12-31 | $3.41B | 178 | +8.08% | +17.72% | -9.64% | -0.02B |
| 2025-09-30 | $3.43B | 170 | +4.13% | +8.12% | -3.99% | -0.20B |
| 2025-06-30 | $3.49B | 175 | +5.37% | +10.78% | -5.41% | +0.02B |
| 2025-03-31 | $3.30B | 138 | -1.35% | -4.27% | +2.92% | -0.34B |
| 2024-12-31 | $3.68B | 133 | — | — | — | — |