Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.17%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.17%
baseline attrition
Rally response
+1.61%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $173.33B | 9.2% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $78.03B | 4.1% | +14.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $74.71B | 3.9% | +9.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $70.41B | 3.7% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $68.02B | 3.6% | — | 10.5 yr |
| METAMeta Platforms, Inc. | $66.72B | 3.5% | -0.4% | 10.5 yr |
| AVGOBroadcom Inc. | $38.41B | 2.0% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $31.14B | 1.6% | +84.3% | 10.5 yr |
| LLYEli Lilly and Company | $24.23B | 1.3% | +12.2% | 10.5 yr |
| XOMExxon Mobil Corporation | $23.75B | 1.3% | +47.6% | 10.5 yr |
| TSMTaiwan Semiconductor Man | $20.41B | 1.1% | +105.6% | 10.5 yr |
| NFLXNetflix, Inc. | $19.68B | 1.0% | +3.1% | 10.5 yr |
| GEVGE Vernova Inc. | $16.01B | 0.8% | +186.8% | 2.3 yr |
| GEGE Aerospace | $14.65B | 0.8% | +42.5% | 4.8 yr |
| VVisa Inc. | $13.57B | 0.7% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.6%+5.5pp$314.98B
Internet Content & Information8.9%+0.2pp$168.30B
Software - Infrastructure5.2%-1.3pp$97.97B
Asset Management5.2%+0.1pp$97.79B
Specialty Retail4.6%-0.8pp$87.95B
Consumer Electronics4.3%-0.4pp$80.60B
Drug Manufacturers - General3.4%+0.5pp$65.14B
Banks - Diversified2.7%-0.5pp$50.98B
Oil & Gas Integrated2.6%+0.6pp$48.56B
Aerospace & Defense2.5%+0.4pp$47.20B
Country
US89.3%-0.3pp
CA2.7%+0.6pp
GB2.0%+0.3pp
Unknown1.1%+0.0pp
TW1.1%+0.5pp
IE0.9%-0.2pp
NL0.7%+0.1pp
CH0.5%-0.2pp
Top 5: 24.5% · Top 10: 34.3% · Top 25: 44.8%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$5.84B |
| AMZN Amazon.com, Inc. | +$74.71B |
| NVDA NVIDIA Corporation | +$173.33B |
| KLAC KLA Corporation | +$2.73B |
| ASML ASML Holding N.V. | +$2.11B |
| STX Seagate Technology Holdings pl | +$1.73B |
| ANET Arista Networks, Inc. | +$1.63B |
| CVX Chevron Corporation | +$1.48B |
| LRCX Lam Research Corporation | +$1.47B |
| JNJ Johnson & Johnson | +$1.47B |
Top sells this quarter · 15
| SNDK Sandisk Corporation | −$5.10B |
| MSFT Microsoft Corporation | −$3.97B |
| META Meta Platforms, Inc. | −$3.28B |
| GEV GE Vernova Inc. | −$14.05B |
| MU Micron Technology, Inc. | −$2.55B |
| WFC Wells Fargo & Company | −$1.91B |
| PEN Penumbra, Inc. | −$1.52B |
| LITE Lumentum Holdings Inc. | −$3.44B |
| BSX Boston Scientific Corporation | −$1.45B |
| TSLA Tesla, Inc. | −$1.28B |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.89T | 5185 | +23.01% | +17.59% | +5.42% | +5.95B |
| 2025-12-31 | $1.96T | 5173 | +18.77% | +17.72% | +1.05% | +1.43B |
| 2025-09-30 | $1.92T | 5142 | +19.80% | +17.52% | +2.28% | -0.17B |
| 2025-06-30 | $1.77T | 5099 | +15.65% | +14.94% | +0.71% | -35.35B |
| 2025-03-31 | $1.56T | 5060 | +2.40% | +8.30% | -5.90% | +5.92B |
| 2024-12-31 | $1.67T | 5314 | +21.41% | +24.89% | -3.48% | -12.24B |
| 2024-09-30 | $1.64T | 5273 | +33.44% | +36.04% | -2.60% | +8.15B |
| 2024-06-30 | $1.56T | 5159 | +23.99% | +24.49% | -0.50% | +39.51B |
| 2024-03-31 | $1.49T | 5160 | +31.84% | +29.62% | +2.22% | +51.87B |
| 2023-12-31 | $1.30T | 5239 | +29.74% | +26.18% | +3.56% | -4.61B |
| 2023-09-30 | $1.15T | 5099 | +21.14% | +21.57% | -0.43% | -2.70B |
| 2023-06-30 | $1.19T | 5150 | +20.31% | +19.42% | +0.88% | +4.40B |
| 2023-03-31 | $1.09T | 5023 | -8.39% | -7.82% | -0.57% | -0.50B |
| 2022-12-31 | $1.00T | 5095 | -19.57% | -18.17% | -1.40% | -4.49B |
| 2022-09-30 | $956.11B | 4571 | -15.29% | -15.51% | +0.22% | -10.41B |
| 2022-06-30 | $1.00T | 4613 | -11.79% | -10.62% | -1.17% | -32.78B |