Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.07%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.18%
baseline attrition
Rally response
-5.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $486M | 6.3% | +60.9% | 3.3 yr |
| AAPLApple Inc. | $389M | 5.1% | +14.7% | 3.3 yr |
| MSFTMicrosoft Corporation | $360M | 4.7% | -0.6% | 3.3 yr |
| AMZNAmazon.com, Inc. | $305M | 4.0% | +9.5% | 3.3 yr |
| GOOGLAlphabet Inc. | $256M | 3.3% | — | 3.3 yr |
| AVGOBroadcom Inc. | $202M | 2.6% | +86.0% | 3.3 yr |
| LLYEli Lilly and Company | $156M | 2.0% | +12.2% | 3.3 yr |
| AMATApplied Materials, Inc. | $150M | 2.0% | +137.6% | 3.3 yr |
| TSMTaiwan Semiconductor Man | $137M | 1.8% | +105.6% | 3.3 yr |
| LINLinde plc | $97M | 1.3% | +7.9% | 0.3 yr |
| JPMJPMorgan Chase & Co. | $95M | 1.2% | +21.8% | 3.3 yr |
| SPGIS&P Global Inc. | $90M | 1.2% | -15.6% | 3.3 yr |
| MAMastercard Incorporated | $88M | 1.2% | -8.5% | 3.3 yr |
| WMWaste Management, Inc. | $85M | 1.1% | +0.8% | 3.3 yr |
| DEDeere & Company | $84M | 1.1% | +21.2% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.4%+6.6pp$1.26B
Software - Infrastructure7.4%-0.6pp$570M
Specialty Retail6.2%-0.9pp$474M
Consumer Electronics5.1%+2.3pp$391M
Internet Content & Information4.9%+1.3pp$376M
Drug Manufacturers - General4.4%+1.0pp$339M
Banks - Diversified2.8%+0.2pp$217M
Software - Application2.7%-3.7pp$207M
Financial - Credit Services2.6%-1.2pp$201M
Financial - Data & Stock Exchanges2.3%-1.3pp$177M
Country
US88.9%-5.8pp
GB1.9%+1.3pp
TW1.8%+1.2pp
IE1.7%+1.4pp
CN0.7%-0.2pp
IN0.7%+0.5pp
Unknown0.6%+0.5pp
LU0.6%
Top 5: 23.4% · Top 10: 33.1% · Top 25: 48.2%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$100M |
| LIN Linde plcnew | +$97M |
| AAPL Apple Inc. | +$89M |
| TT Trane Technologies plcnew | +$71M |
| AMZN Amazon.com, Inc. | +$63M |
| MSFT Microsoft Corporation | +$360M |
| AVGO Broadcom Inc. | +$43M |
| BLK BlackRock, Inc. | +$42M |
| TSM Taiwan Semiconductor Manufactu | +$42M |
| JPM JPMorgan Chase & Co. | +$39M |
Top sells this quarter · 15
| BRO Brown & Brown, Inc. | −$29M |
| DE Deere & Company | −$27M |
| NOW ServiceNow, Inc. | −$20M |
| WDAY Workday, Inc. | −$19M |
| AWK American Water Works Company, | −$12M |
| PH Parker-Hannifin Corporation | −$12M |
| CRM Salesforce, Inc. | −$9M |
| TECK Teck Resources Limited | −$9M |
| CIEN Ciena Corporation | −$13M |
| CTVA Corteva, Inc. | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.67B | 622 | +10.74% | +17.59% | -6.86% | +1.30B |
| 2025-12-31 | $6.75B | 555 | +13.83% | +17.72% | -3.89% | +1.80B |
| 2025-09-30 | $4.88B | 428 | +12.45% | +17.52% | -5.07% | -0.32B |
| 2025-06-30 | $4.99B | 400 | +15.06% | +14.94% | +0.12% | -0.32B |
| 2025-03-31 | $4.78B | 425 | +4.06% | +8.30% | -4.24% | -0.42B |
| 2024-12-31 | $5.36B | 435 | +15.55% | +24.89% | -9.34% | -0.37B |
| 2024-09-30 | $5.73B | 481 | +30.16% | +36.04% | -5.87% | -0.16B |
| 2024-06-30 | $5.51B | 451 | +17.06% | +24.49% | -7.43% | -0.28B |
| 2024-03-31 | $5.77B | 426 | +23.30% | +29.62% | -6.33% | -0.36B |
| 2023-12-31 | $5.69B | 416 | +12.71% | +11.64% | +1.07% | -0.45B |
| 2023-09-30 | $5.45B | 556 | -3.96% | -3.22% | -0.74% | +0.65B |
| 2023-06-30 | $4.99B | 402 | +5.67% | +8.68% | -3.01% | -0.12B |
| 2023-03-31 | $4.84B | 405 | — | — | — | — |