Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.23%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.96%
steady accumulation
Rally response
-0.22%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $16.48B | 3.4% | +60.9% | 10.3 yr |
| AAPLApple Inc. | $14.86B | 3.1% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $10.85B | 2.3% | -0.6% | 10.3 yr |
| AMZNAmazon.com, Inc. | $8.13B | 1.7% | +9.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $5.96B | 1.2% | -0.4% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $5.58B | 1.2% | +21.8% | 10.3 yr |
| GOOGLAlphabet Inc. | $5.26B | 1.1% | — | 10.3 yr |
| XOMExxon Mobil Corporation | $4.81B | 1.0% | +47.6% | 10.3 yr |
| GOOGAlphabet Inc. | $4.22B | 0.9% | +84.3% | 10.3 yr |
| AVGOBroadcom Inc. | $3.94B | 0.8% | +86.0% | 7.8 yr |
| JNJJohnson & Johnson | $3.87B | 0.8% | +51.5% | 10.3 yr |
| LLYEli Lilly and Company | $3.58B | 0.7% | +12.2% | 10.3 yr |
| BRK-BBerkshire Hathaway Inc. | $3.51B | 0.7% | — | 10.3 yr |
| CVXChevron Corporation | $2.76B | 0.6% | +29.2% | 10.3 yr |
| VVisa Inc. | $2.67B | 0.6% | -13.1% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors8.0%+2.6pp$38.30B
Banks - Regional4.6%-0.4pp$22.17B
Drug Manufacturers - General3.6%+0.1pp$17.25B
Software - Infrastructure3.5%-0.2pp$17.06B
Internet Content & Information3.4%+0.6pp$16.43B
Consumer Electronics3.2%-0.0pp$15.15B
Banks - Diversified3.0%+0.1pp$14.44B
Specialty Retail2.7%+0.2pp$12.89B
Oil & Gas Integrated2.6%+0.3pp$12.46B
Oil & Gas Exploration & Production2.4%+0.3pp$11.66B
Country
US90.2%-1.1pp
CA2.2%+0.7pp
GB1.8%+0.2pp
IE1.2%-0.0pp
Unknown1.1%+0.1pp
BM0.8%-0.0pp
CH0.6%+0.0pp
NL0.4%+0.1pp
Top 5: 11.7% · Top 10: 16.7% · Top 25: 24.2%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$1.52B |
| MSFT Microsoft Corporation | +$10.85B |
| MRK Merck & Co., Inc. | +$357M |
| AVGO Broadcom Inc. | +$3.94B |
| XOM Exxon Mobil Corporation | +$261M |
| AAPL Apple Inc. | +$14.86B |
| META Meta Platforms, Inc. | +$5.96B |
| JPM JPMorgan Chase & Co. | +$5.58B |
| SM SM Energy Company | +$138M |
| FITB Fifth Third Bancorp | +$119M |
Top sells this quarter · 15
| JNJ Johnson & Johnson | −$3.57B |
| WDC Western Digital Corporation | −$614M |
| CVX Chevron Corporation | −$2.24B |
| GLW Corning Incorporated | −$535M |
| PNFP Pinnacle Financial Partners, Iexit | −$240M |
| AL Air Lease Corporation | −$215M |
| GTLS Chart Industries, Inc. | −$203M |
| TGNA TEGNA Inc.exit | −$201M |
| AA Alcoa Corporation | −$196M |
| ABBV AbbVie Inc. | −$189M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $480.92B | 3206 | +20.07% | +17.59% | +2.48% | +1.80B |
| 2025-12-31 | $476.32B | 3231 | +14.81% | +17.72% | -2.90% | -1.60B |
| 2025-09-30 | $465.61B | 3262 | +11.96% | +17.52% | -5.56% | +0.14B |
| 2025-06-30 | $431.59B | 3263 | +11.63% | +14.94% | -3.31% | -1.86B |
| 2025-03-31 | $401.99B | 3311 | +2.48% | +8.30% | -5.82% | +1.88B |
| 2024-12-31 | $415.97B | 3330 | +14.63% | +24.89% | -10.26% | +3.82B |
| 2024-09-30 | $411.78B | 3338 | +28.32% | +36.04% | -7.72% | +0.59B |
| 2024-06-30 | $382.39B | 3362 | +15.84% | +24.49% | -8.65% | +17.23B |
| 2024-03-31 | $368.87B | 3377 | +23.01% | +29.62% | -6.61% | +0.90B |
| 2023-12-31 | $342.03B | 3401 | +18.89% | +26.18% | -7.29% | +0.85B |
| 2023-09-30 | $304.50B | 3456 | +16.73% | +21.57% | -4.84% | +0.31B |
| 2023-06-30 | $313.35B | 3464 | +14.44% | +19.42% | -4.98% | +1.73B |
| 2023-03-31 | $296.43B | 3450 | -6.17% | -7.82% | +1.65% | +1.22B |
| 2022-12-31 | $283.93B | 3478 | +10.01% | +7.56% | +2.45% | -2.04B |
| 2022-09-30 | $259.94B | 3473 | -4.83% | -4.93% | +0.10% | +0.24B |
| 2022-06-30 | $272.87B | 3438 | -13.81% | -16.11% | +2.30% | -3.12B |