Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.02%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.99%
steady accumulation
Rally response
-11.67%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EEMiShares MSCI Emerging Ma | $41.13B | 14.7% | — | 10.5 yr |
| NVDANVIDIA Corporation | $14.48B | 5.2% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $9.24B | 3.3% | -0.6% | 10.0 yr |
| AAPLApple Inc. | $9.21B | 3.3% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $6.46B | 2.3% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $5.89B | 2.1% | — | 10.5 yr |
| AVGOBroadcom Inc. | $5.04B | 1.8% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $4.37B | 1.6% | -0.4% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $4.25B | 1.5% | +17.6% | 10.5 yr |
| TSLATesla, Inc. | $3.91B | 1.4% | +43.4% | 10.5 yr |
| GOOGAlphabet Inc. | $3.87B | 1.4% | +84.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $3.65B | 1.3% | +21.8% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $2.96B | 1.1% | — | 10.5 yr |
| MUMicron Technology, Inc. | $2.63B | 0.9% | +289.6% | 10.5 yr |
| VVisa Inc. | $2.57B | 0.9% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management20.3%+13.5pp$56.85B
Semiconductors13.5%+3.6pp$37.79B
Internet Content & Information5.3%+0.2pp$14.74B
Software - Infrastructure5.2%-1.7pp$14.50B
Specialty Retail3.3%-1.5pp$9.28B
Consumer Electronics3.3%-1.3pp$9.22B
Drug Manufacturers - General3.1%+0.0pp$8.78B
Banks - Diversified2.7%-0.1pp$7.54B
Financial - Credit Services2.1%-1.8pp$5.82B
Software - Application2.0%-1.4pp$5.59B
Country
US93.2%-0.3pp
CA1.2%+0.6pp
GB1.1%+0.2pp
IE0.9%-0.6pp
Unknown0.9%-0.0pp
TW0.5%+0.1pp
NL0.3%-0.0pp
CH0.3%-0.3pp
Top 5: 28.8% · Top 10: 37.2% · Top 25: 48.5%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$2.27B |
| WMT Walmart Inc. | +$1.19B |
| AZN AstraZeneca PLCnew | +$1.08B |
| SPY State Street SPDR S&P 500 ETF | +$1.04B |
| JPM JPMorgan Chase & Co. | +$779M |
| TMUS T-Mobile US, Inc. | +$733M |
| JNJ Johnson & Johnson | +$570M |
| RACE Ferrari N.V. | +$513M |
| MASI Masimo Corporation | +$478M |
| CAT Caterpillar Inc. | +$425M |
Top sells this quarter · 15
| TSLA Tesla, Inc. | −$1.14B |
| AMZN Amazon.com, Inc. | −$798M |
| XEL Xcel Energy Inc. | −$682M |
| NFLX Netflix, Inc. | −$602M |
| GPN Global Payments Inc. | −$568M |
| PLTR Palantir Technologies Inc. | −$552M |
| GILD Gilead Sciences, Inc. | −$534M |
| KVUE Kenvue Inc. | −$483M |
| GPC Genuine Parts Company | −$385M |
| AVGO Broadcom Inc. | −$364M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $279.69B | 4228 | +20.07% | +17.59% | +2.48% | +41.69B |
| 2025-12-31 | $248.84B | 4202 | +18.81% | +17.72% | +1.09% | -16.76B |
| 2025-09-30 | $255.98B | 4924 | +17.24% | +17.52% | -0.28% | +0.54B |
| 2025-06-30 | $234.26B | 4289 | +13.54% | +14.94% | -1.41% | -9.55B |
| 2025-03-31 | $219.73B | 4330 | +4.58% | +8.30% | -3.72% | +28.58B |
| 2024-12-31 | $201.98B | 4265 | +18.82% | +24.89% | -6.07% | -30.06B |
| 2024-09-30 | $226.64B | 4252 | +30.91% | +36.04% | -5.13% | -3.02B |
| 2024-06-30 | $217.48B | 4078 | +19.40% | +24.49% | -5.10% | -8.58B |
| 2024-03-31 | $221.18B | 4052 | +25.83% | +29.62% | -3.79% | +13.28B |
| 2023-12-31 | $193.35B | 4087 | +26.28% | +26.18% | +0.10% | +20.09B |
| 2023-09-30 | $153.59B | 4114 | +18.75% | +21.57% | -2.82% | +5.15B |
| 2023-06-30 | $154.12B | 4143 | +17.59% | +19.42% | -1.83% | +50.64B |
| 2023-03-31 | $96.07B | 4184 | -8.11% | -7.82% | -0.30% | -28.55B |
| 2022-12-31 | $115.48B | 4256 | -18.78% | -18.17% | -0.61% | +19.96B |
| 2022-09-30 | $90.05B | 4402 | -14.96% | -15.51% | +0.55% | +4.59B |
| 2022-06-30 | $89.61B | 4471 | -10.32% | -10.62% | +0.30% | -14.54B |