Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.17%
baseline attrition
Rally response
+3.39%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $3.78B | 3.5% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $2.86B | 2.6% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $2.59B | 2.4% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $2.19B | 2.0% | +9.5% | 10.5 yr |
| GOOGAlphabet Inc. | $1.68B | 1.6% | +84.3% | 10.5 yr |
| VEAVanguard FTSE Developed | $1.58B | 1.5% | — | 10.5 yr |
| AVGOBroadcom Inc. | $1.57B | 1.5% | +86.0% | 8.0 yr |
| SCHGSchwab U.S. Large-Cap Gr | $1.39B | 1.3% | — | 9.3 yr |
| BNDVanguard Total Bond Mark | $1.37B | 1.3% | — | 10.5 yr |
| SCHVSchwab U.S. Large-Cap Va | $1.37B | 1.3% | — | 9.8 yr |
| GOOGLAlphabet Inc. | $1.20B | 1.1% | — | 10.5 yr |
| METAMeta Platforms, Inc. | $1.13B | 1.0% | -0.4% | 10.5 yr |
| IDEViShares Core MSCI Intern | $1.04B | 1.0% | — | 3.5 yr |
| TSMTaiwan Semiconductor Man | $876M | 0.8% | +105.6% | 10.5 yr |
| SCHXSchwab U.S. Large-Cap ET | $834M | 0.8% | — | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management16.7%-1.2pp$18.05B
Semiconductors9.1%+3.5pp$9.88B
Internet Content & Information4.3%+0.8pp$4.70B
Software - Infrastructure4.0%-1.0pp$4.36B
Specialty Retail3.2%-0.4pp$3.51B
Asset Management - Bonds3.2%+0.0pp$3.47B
Consumer Electronics2.7%+0.4pp$2.96B
Aerospace & Defense2.5%+0.7pp$2.73B
Drug Manufacturers - General2.4%+0.4pp$2.63B
Software - Application2.3%-1.7pp$2.44B
Country
US90.0%-0.2pp
GB1.3%+0.3pp
IE1.2%-0.1pp
Unknown1.1%+0.3pp
TW0.8%+0.3pp
CA0.7%-0.1pp
NL0.6%+0.2pp
SG0.5%-0.1pp
Top 5: 12.1% · Top 10: 18.9% · Top 25: 29.6%
Top buys this quarter · 15
| AAPL Apple Inc. | +$461M |
| NVDA NVIDIA Corporation | +$427M |
| GOOG Alphabet Inc. | +$380M |
| AVGO Broadcom Inc. | +$298M |
| ASML ASML Holding N.V. | +$262M |
| AMZN Amazon.com, Inc. | +$2.19B |
| META Meta Platforms, Inc. | +$1.13B |
| PLTR Palantir Technologies Inc. | +$146M |
| AZN AstraZeneca PLCnew | +$135M |
| ELAN Elanco Animal Health Incorpora | +$119M |
Top sells this quarter · 15
| ORCL Oracle Corporation | −$167M |
| APH Amphenol Corporation | −$143M |
| NOW ServiceNow, Inc. | −$105M |
| VRTX Vertex Pharmaceuticals Incorpo | −$103M |
| SYK Stryker Corporation | −$94M |
| CDNS Cadence Design Systems, Inc. | −$79M |
| BSX Boston Scientific Corporation | −$74M |
| GEV GE Vernova Inc. | −$340M |
| DHR Danaher Corporation | −$65M |
| CTAS Cintas Corporation | −$59M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $108.06B | 3150 | +14.13% | +17.59% | -3.46% | +10.83B |
| 2025-12-31 | $101.02B | 3033 | +13.41% | +17.72% | -4.31% | +7.30B |
| 2025-09-30 | $92.79B | 2735 | +12.93% | +17.52% | -4.58% | +1.40B |
| 2025-06-30 | $86.16B | 2704 | +13.61% | +14.94% | -1.33% | +0.46B |
| 2025-03-31 | $77.43B | 2763 | +2.29% | +8.30% | -6.01% | +3.28B |
| 2024-12-31 | $77.54B | 2639 | +14.99% | +24.89% | -9.89% | +0.42B |
| 2024-09-30 | $76.68B | 2590 | +29.21% | +36.04% | -6.82% | +1.44B |
| 2024-06-30 | $70.51B | 2573 | +16.18% | +24.49% | -8.31% | +2.55B |
| 2024-03-31 | $68.19B | 2526 | +23.68% | +29.62% | -5.95% | +1.30B |
| 2023-12-31 | $62.22B | 2518 | +22.62% | +26.18% | -3.56% | -0.59B |
| 2023-09-30 | $55.58B | 2525 | +16.24% | +21.57% | -5.33% | +0.65B |
| 2023-06-30 | $57.25B | 2543 | +15.29% | +19.42% | -4.13% | +0.21B |
| 2023-03-31 | $53.76B | 2549 | -9.33% | -7.82% | -1.51% | +5.88B |
| 2022-12-31 | $44.93B | 2375 | -18.86% | -18.17% | -0.68% | -3.03B |
| 2022-09-30 | $44.76B | 2503 | -15.88% | -15.51% | -0.38% | +0.76B |
| 2022-06-30 | $46.23B | 2497 | -11.11% | -10.62% | -0.49% | +4.78B |