Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.43%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.74%
baseline attrition
Rally response
-3.34%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $7.15B | 9.7% | +60.9% | 8.8 yr |
| GOOGLAlphabet Inc. | $4.99B | 6.8% | — | 10.5 yr |
| TSLATesla, Inc. | $4.70B | 6.4% | +43.4% | 6.5 yr |
| METAMeta Platforms, Inc. | $4.26B | 5.8% | -0.4% | 10.5 yr |
| AMZNAmazon.com, Inc. | $3.82B | 5.2% | +9.5% | 10.5 yr |
| NFLXNetflix, Inc. | $3.65B | 4.9% | +3.1% | 5.8 yr |
| BAThe Boeing Company | $2.80B | 3.8% | +16.7% | 10.5 yr |
| VVisa Inc. | $2.80B | 3.8% | -13.1% | 10.5 yr |
| ORCLOracle Corporation | $2.48B | 3.4% | +5.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $2.24B | 3.0% | -0.6% | 10.5 yr |
| MNSTMonster Beverage Corpora | $1.88B | 2.5% | +23.8% | 10.5 yr |
| VRTXVertex Pharmaceuticals I | $1.79B | 2.4% | -7.9% | 6.5 yr |
| SHOPShopify Inc. | $1.71B | 2.3% | +24.2% | 4.8 yr |
| REGNRegeneron Pharmaceutical | $1.48B | 2.0% | +22.5% | 9.8 yr |
| ADSKAutodesk, Inc. | $1.37B | 1.9% | -8.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information13.7%+2.2pp$10.11B
Semiconductors11.7%+3.2pp$8.64B
Software - Infrastructure7.1%-0.7pp$5.24B
Software - Application6.9%-1.9pp$5.09B
Entertainment6.8%-0.5pp$5.00B
Auto - Manufacturers6.4%+1.5pp$4.74B
Biotechnology6.4%-0.2pp$4.74B
Specialty Retail5.8%-1.1pp$4.30B
Financial - Credit Services4.7%-1.2pp$3.46B
Aerospace & Defense4.5%+0.3pp$3.33B
Country
US92.7%+0.8pp
CA2.5%+0.4pp
CH1.2%+0.3pp
DK0.8%-0.4pp
Unknown0.5%-0.1pp
GB0.5%-0.2pp
IE0.4%+0.1pp
CN0.4%-0.8pp
Top 5: 33.8% · Top 10: 52.7% · Top 25: 75.6%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$7.15B |
| ORCL Oracle Corporation | +$2.48B |
| AMZN Amazon.com, Inc. | +$3.82B |
| EXPE Expedia Group, Inc. | +$73M |
| NFLX Netflix, Inc. | +$71M |
| TYL Tyler Technologies, Inc. | +$55M |
| PIPR Piper Sandler Companiesnew | +$41M |
| ADEA Adeia Inc.new | +$32M |
| PGR The Progressive Corporation | +$31M |
| ALGM Allegro MicroSystems, Inc. | +$27M |
Top sells this quarter · 15
| ILMN Illumina, Inc. | −$151M |
| PH Parker-Hannifin Corporation | −$130M |
| MEDP Medpace Holdings, Inc. | −$97M |
| CMI Cummins Inc. | −$90M |
| MTD Mettler-Toledo International I | −$77M |
| HD The Home Depot, Inc. | −$70M |
| LIN Linde plc | −$67M |
| BLK BlackRock, Inc. | −$62M |
| SIMO Silicon Motion Technology Corp | −$55M |
| HLT Hilton Worldwide Holdings Inc. | −$54M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $73.82B | 672 | +11.72% | +17.59% | -5.87% | -0.43B |
| 2025-12-31 | $82.38B | 639 | +13.23% | +17.72% | -4.49% | -1.45B |
| 2025-09-30 | $83.68B | 658 | +20.45% | +17.52% | +2.93% | -1.14B |
| 2025-06-30 | $79.36B | 662 | +19.70% | +14.94% | +4.76% | -0.14B |
| 2025-03-31 | $68.68B | 672 | +3.92% | +8.30% | -4.38% | -2.95B |
| 2024-12-31 | $78.40B | 651 | +23.34% | +24.89% | -1.55% | -1.49B |
| 2024-09-30 | $74.97B | 636 | +31.18% | +36.04% | -4.86% | -1.07B |
| 2024-06-30 | $71.59B | 636 | +18.93% | +24.49% | -5.56% | +1.87B |
| 2024-03-31 | $69.37B | 628 | +29.29% | +29.62% | -0.33% | -0.17B |
| 2023-12-31 | $64.14B | 907 | +37.76% | +26.18% | +11.59% | -0.97B |
| 2023-09-30 | $57.44B | 848 | +29.30% | +21.57% | +7.74% | -1.39B |
| 2023-06-30 | $61.09B | 918 | +29.74% | +19.42% | +10.32% | -0.90B |
| 2023-03-31 | $56.74B | 923 | -2.45% | -7.82% | +5.36% | -0.28B |
| 2022-12-31 | $49.36B | 817 | +6.38% | +7.56% | -1.18% | -2.57B |
| 2022-09-30 | $48.81B | 915 | -3.37% | -4.93% | +1.56% | -2.59B |
| 2022-06-30 | $53.19B | 934 | -17.85% | -16.11% | -1.74% | -7.22B |