Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.60%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.54%
baseline attrition
Rally response
-12.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $201M | 4.9% | — | 0.8 yr |
| MSFTMicrosoft Corporation | $176M | 4.3% | — | 0.8 yr |
| AVGOBroadcom Inc. | $104M | 2.5% | — | 0.8 yr |
| GOOGAlphabet Inc. | $102M | 2.5% | — | 0.8 yr |
| GOOGLAlphabet Inc. | $92M | 2.3% | — | 0.8 yr |
| KDPKeurig Dr Pepper Inc. | $91M | 2.2% | — | 0.8 yr |
| MRKMerck & Co., Inc. | $91M | 2.2% | — | 0.8 yr |
| — | $89M | 2.2% | — | 0.5 yr |
| CVXChevron Corporation | $88M | 2.2% | — | 0.8 yr |
| TMUST-Mobile US, Inc. | $85M | 2.1% | — | 0.8 yr |
| AMZNAmazon.com, Inc. | $82M | 2.0% | — | 0.8 yr |
| GLPIGaming and Leisure Prope | $80M | 2.0% | — | 0.8 yr |
| ANTMElevance Health Inc. | $80M | 2.0% | — | 0.8 yr |
| MMCMarsh & McLennan Compani | $80M | 2.0% | — | 0.5 yr |
| CCICrown Castle Inc. | $79M | 1.9% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.4%$544M
Drug Manufacturers - General7.4%$301M
Internet Content & Information5.9%$242M
Software - Infrastructure5.7%$232M
Banks - Regional4.7%$192M
Specialty Retail4.1%$168M
REIT - Specialty4.0%$163M
Industrial - Machinery2.9%$120M
Financial - Data & Stock Exchanges2.8%$112M
Telecommunications Services2.7%$109M
Country
US90.0%
Unknown2.2%
GB1.8%
NL1.6%
IE1.4%
DE1.0%
CA0.8%
CH0.7%
Top 5: 16.6% · Top 10: 27.5% · Top 25: 54.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$57M |
| ETN Eaton Corporation plc | +$55M |
| ARES Ares Management Corporationnew | +$45M |
| AMAT Applied Materials, Inc. | +$43M |
| HON Honeywell International Inc.new | +$43M |
| ICE Intercontinental Exchange, Incnew | +$38M |
| ADP Automatic Data Processing, Inc | +$34M |
| CDNS Cadence Design Systems, Inc. | +$32M |
| ISRG Intuitive Surgical, Inc.new | +$30M |
| KDP Keurig Dr Pepper Inc. | +$30M |
Top sells this quarter · 15
| PPG PPG Industries, Inc.exit | −$71M |
| EMR Emerson Electric Co.exit | −$63M |
| AVY Avery Dennison Corporationexit | −$51M |
| UNH UnitedHealth Group Incorporateexit | −$44M |
| BAC Bank of America Corporationexit | −$38M |
| PCAR PACCAR Inc | −$29M |
| ADM Archer-Daniels-Midland Company | −$29M |
| MRK Merck & Co., Inc. | −$29M |
| NFLX Netflix, Inc.exit | −$28M |
| TKO TKO Group Holdings, Inc. | −$27M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.07B | 175 | -4.22% | -4.37% | +0.15% | +0.13B |
| 2025-12-31 | $4.11B | 200 | +2.50% | +2.66% | -0.17% | +0.02B |
| 2025-09-30 | $3.99B | 189 | — | — | — | — |