Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-24.87%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.26%
baseline attrition
Rally response
-4.58%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.86B | 12.5% | +60.9% | 10.0 yr |
| MSFTMicrosoft Corporation | $1.85B | 8.1% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $1.49B | 6.5% | +9.5% | 10.3 yr |
| AAPLApple Inc. | $1.18B | 5.2% | +14.7% | 10.3 yr |
| GOOGAlphabet Inc. | $1.10B | 4.8% | +84.3% | 10.3 yr |
| METAMeta Platforms, Inc. | $1.02B | 4.5% | -0.4% | 10.3 yr |
| YNDXYandex N.V. | $996M | 4.4% | — | 5.5 yr |
| AVGOBroadcom Inc. | $913M | 4.0% | +86.0% | 7.8 yr |
| WDCWestern Digital Corporat | $719M | 3.2% | +571.9% | 5.3 yr |
| TSLATesla, Inc. | $679M | 3.0% | +43.4% | 10.3 yr |
| APPAppLovin Corporation | $467M | 2.1% | +50.2% | 2.0 yr |
| QXOQXO, Inc. | $435M | 1.9% | +43.4% | 0.8 yr |
| TLNTalen Energy Corporation | $379M | 1.7% | +59.9% | 1.8 yr |
| NTRANatera, Inc. | $351M | 1.5% | +41.4% | 8.0 yr |
| GEVGE Vernova Inc. | $298M | 1.3% | +186.8% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors18.7%+6.0pp$4.25B
Internet Content & Information14.2%+4.4pp$3.23B
Software - Infrastructure9.9%-1.4pp$2.25B
Specialty Retail8.6%-1.7pp$1.95B
Consumer Electronics5.2%+0.1pp$1.18B
Computer Hardware3.7%+3.6pp$838M
Auto - Manufacturers3.0%+1.2pp$680M
Software - Application3.0%-5.1pp$676M
Biotechnology2.6%+1.3pp$593M
Drug Manufacturers - General2.5%+0.8pp$564M
Country
US89.1%-0.6pp
RU4.4%+4.0pp
CA1.9%-1.2pp
SG1.4%-0.7pp
Unknown0.8%-0.6pp
GB0.8%+0.8pp
UY0.7%-0.2pp
LU0.2%-0.9pp
Top 5: 37.2% · Top 10: 56.2% · Top 25: 73.7%
Top buys this quarter · 15
| NVDA NVIDIA Corporation | +$189M |
| AZN AstraZeneca PLCnew | +$152M |
| QXO QXO, Inc. | +$126M |
| DNTH Dianthus Therapeutics, Inc. | +$95M |
| ARWR Arrowhead Pharmaceuticals, Inc | +$95M |
| WELL Welltower Inc. | +$94M |
| GOOG Alphabet Inc. | +$1.10B |
| PLTR Palantir Technologies Inc. | +$85M |
| ANET Arista Networks, Inc. | +$84M |
| FIGR Figure Technology Solutions, I | +$74M |
Top sells this quarter · 15
| APP AppLovin Corporation | −$199M |
| TLN Talen Energy Corporation | −$197M |
| SPOT Spotify Technology S.A. | −$176M |
| VST Vistra Corp. | −$121M |
| META Meta Platforms, Inc. | −$108M |
| LNG Cheniere Energy, Inc. | −$98M |
| CEG Constellation Energy Corporati | −$83M |
| GEV GE Vernova Inc. | −$281M |
| SPGI S&P Global Inc. | −$78M |
| NFLX Netflix, Inc. | −$69M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $22.77B | 443 | +27.23% | +17.59% | +9.64% | +0.07B |
| 2025-12-31 | $25.50B | 456 | +24.89% | +17.72% | +7.18% | -0.11B |
| 2025-09-30 | $25.69B | 445 | +37.99% | +17.52% | +20.47% | +0.11B |
| 2025-06-30 | $22.34B | 430 | +26.59% | +14.94% | +11.65% | +0.36B |
| 2025-03-31 | $17.56B | 416 | +5.36% | +8.30% | -2.95% | -0.78B |
| 2024-12-31 | $20.99B | 405 | +32.99% | +24.89% | +8.11% | -1.73B |
| 2024-09-30 | $20.63B | 433 | +37.98% | +36.04% | +1.94% | -0.97B |
| 2024-06-30 | $20.56B | 424 | +25.30% | +24.49% | +0.81% | -0.46B |
| 2024-03-31 | $20.17B | 443 | +31.87% | +29.62% | +2.24% | -0.28B |
| 2023-12-31 | $18.53B | 442 | +32.11% | +26.18% | +5.93% | -1.34B |
| 2023-09-30 | $17.40B | 461 | +14.15% | +21.57% | -7.42% | -1.28B |
| 2023-06-30 | $19.58B | 510 | +17.51% | +19.42% | -1.92% | -0.93B |
| 2023-03-31 | $18.70B | 515 | -18.02% | -7.82% | -10.20% | -1.69B |
| 2022-12-31 | $18.45B | 516 | -1.31% | +7.56% | -8.87% | -1.03B |
| 2022-09-30 | $19.73B | 518 | -1.78% | -4.93% | +3.15% | -1.30B |
| 2022-06-30 | $21.41B | 500 | -23.48% | -16.11% | -7.37% | -2.54B |