Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.52%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.26%
baseline attrition
Rally response
-4.73%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.76B | 3.4% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.34B | 2.6% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $1.28B | 2.5% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $1.22B | 2.4% | +9.5% | 10.5 yr |
| GOOGAlphabet Inc. | $798M | 1.5% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $793M | 1.5% | -0.4% | 10.5 yr |
| GOOGLAlphabet Inc. | $739M | 1.4% | — | 10.5 yr |
| AVGOBroadcom Inc. | $671M | 1.3% | +86.0% | 8.0 yr |
| IVViShares Core S&P 500 ETF | $628M | 1.2% | — | 10.5 yr |
| JPMJPMorgan Chase & Co. | $529M | 1.0% | +21.8% | 10.5 yr |
| TSLATesla, Inc. | $503M | 1.0% | +43.4% | 8.0 yr |
| XOMExxon Mobil Corporation | $461M | 0.9% | +47.6% | 10.5 yr |
| LLYEli Lilly and Company | $431M | 0.8% | +12.2% | 10.5 yr |
| NFLXNetflix, Inc. | $406M | 0.8% | +3.1% | 10.5 yr |
| CATCaterpillar Inc. | $363M | 0.7% | +117.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.6%+2.6pp$7.50B
Semiconductors8.0%+2.9pp$4.10B
Internet Content & Information4.7%+0.3pp$2.44B
Software - Infrastructure3.5%-0.1pp$1.83B
Specialty Retail3.3%-0.1pp$1.72B
Drug Manufacturers - General3.0%+0.4pp$1.54B
Banks - Diversified2.7%+0.2pp$1.41B
Consumer Electronics2.6%-0.2pp$1.36B
Asset Management - Bonds2.3%+0.0pp$1.18B
Aerospace & Defense2.3%+0.6pp$1.17B
Country
US93.5%-2.4pp
Unknown2.2%+1.2pp
IE0.9%+0.6pp
TW0.7%+0.7pp
CA0.7%+0.5pp
GB0.5%-0.2pp
CH0.3%-0.3pp
BM0.3%-0.2pp
Top 5: 12.4% · Top 10: 18.9% · Top 25: 29.3%
Top buys this quarter · 15
| LRCX Lam Research Corporation | +$230M |
| GE GE Aerospace | +$200M |
| CEG Constellation Energy Corporati | +$142M |
| ANET Arista Networks, Inc. | +$138M |
| ETN Eaton Corporation plc | +$121M |
| EME EMCOR Group, Inc. | +$99M |
| HLT Hilton Worldwide Holdings Inc. | +$96M |
| INTU Intuit Inc. | +$95M |
| MS Morgan Stanley | +$94M |
| HAL Halliburton Company | +$73M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $51.55B | 2444 | +16.36% | +17.59% | -1.23% | -1.96B |
| 2025-12-31 | $55.39B | 2469 | +14.01% | +17.72% | -3.70% | +4.36B |
| 2025-09-30 | $49.76B | 2267 | +12.26% | +17.52% | -5.26% | +1.80B |
| 2025-06-30 | $44.70B | 2328 | +12.10% | +14.94% | -2.85% | -4.26B |
| 2025-03-31 | $44.72B | 2278 | +1.22% | +8.30% | -7.08% | -3.08B |
| 2024-12-31 | $50.50B | 2450 | +17.06% | +24.89% | -7.82% | -1.64B |
| 2024-09-30 | $51.64B | 2411 | +29.21% | +36.04% | -6.82% | -0.58B |
| 2024-06-30 | $48.74B | 2433 | +16.81% | +24.49% | -7.68% | +0.43B |
| 2024-03-31 | $48.87B | 2417 | +26.06% | +29.62% | -3.56% | -0.49B |
| 2023-12-31 | $45.09B | 2400 | +21.65% | +26.18% | -4.52% | -0.95B |
| 2023-09-30 | $41.31B | 2349 | +16.29% | +21.57% | -5.27% | -0.25B |
| 2023-06-30 | $42.91B | 2374 | +17.21% | +19.42% | -2.22% | +0.12B |
| 2023-03-31 | $40.11B | 2350 | -7.45% | -7.82% | +0.36% | +0.28B |
| 2022-12-31 | $37.70B | 2318 | -16.44% | -18.17% | +1.74% | -0.16B |
| 2022-09-30 | $35.54B | 2306 | -12.89% | -15.51% | +2.62% | -0.22B |
| 2022-06-30 | $36.63B | 2312 | -10.25% | -10.62% | +0.37% | -5.56B |