Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-21.04%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.28%
baseline attrition
Rally response
-19.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $377M | 5.3% | +60.9% | 2.0 yr |
| MSFTMicrosoft Corporation | $350M | 4.9% | -0.6% | 4.0 yr |
| AMZNAmazon.com, Inc. | $264M | 3.7% | +9.5% | 3.8 yr |
| TSMTaiwan Semiconductor Man | $249M | 3.5% | +105.6% | 3.5 yr |
| MAMastercard Incorporated | $228M | 3.2% | -8.5% | 4.0 yr |
| METAMeta Platforms, Inc. | $210M | 3.0% | -0.4% | 4.0 yr |
| GOOGLAlphabet Inc. | $195M | 2.7% | — | 4.0 yr |
| VVisa Inc. | $193M | 2.7% | -13.1% | 4.0 yr |
| UPSUnited Parcel Service, I | $182M | 2.6% | -4.4% | 2.5 yr |
| NUNu Holdings Ltd. | $153M | 2.2% | +40.3% | 1.0 yr |
| ANTMElevance Health Inc. | $139M | 2.0% | — | 1.5 yr |
| AMATApplied Materials, Inc. | $116M | 1.6% | +137.6% | 1.5 yr |
| ASMLASML Holding N.V. | $115M | 1.6% | +100.9% | 0.8 yr |
| TJXThe TJX Companies, Inc. | $114M | 1.6% | +32.7% | 1.0 yr |
| MELIMercadoLibre, Inc. | $105M | 1.5% | -11.4% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.5%+9.1pp$960M
Asset Management11.7%+4.2pp$831M
Internet Content & Information7.3%+0.3pp$517M
Financial - Credit Services6.1%+0.7pp$430M
Specialty Retail5.4%+0.8pp$386M
Software - Infrastructure4.9%+0.9pp$350M
Medical - Healthcare Plans4.0%+3.4pp$283M
Software - Application3.8%-1.3pp$272M
Banks - Diversified3.5%+0.9pp$245M
Paper, Lumber & Forest Products2.8%+2.0pp$197M
Country
US82.6%-0.3pp
TW3.5%+0.9pp
BR3.4%+3.3pp
CA2.1%-0.1pp
NL1.7%+1.6pp
LU1.5%+0.2pp
UY1.5%+0.0pp
FR1.0%+0.7pp
Top 5: 20.7% · Top 10: 33.9% · Top 25: 56.2%
Top buys this quarter · 15
| SPOT Spotify Technology S.A.new | +$103M |
| MSFT Microsoft Corporation | +$350M |
| GPK Graphic Packaging Holding Comp | +$83M |
| MOH Molina Healthcare, Inc.new | +$73M |
| SNY Sanofi | +$58M |
| DPZ Domino's Pizza, Inc.new | +$48M |
| META Meta Platforms, Inc. | +$47M |
| V Visa Inc. | +$35M |
| NVDA NVIDIA Corporation | +$34M |
| CAH Cardinal Health, Inc. | +$27M |
Top sells this quarter · 15
| ALB Albemarle Corporation | −$193M |
| SQM Sociedad QuÃmica y Minera de | −$177M |
| LHX L3Harris Technologies, Inc. | −$146M |
| VRTX Vertex Pharmaceuticals Incorpo | −$92M |
| GSK GSK plc | −$78M |
| SYF Synchrony Financial | −$73M |
| SPGI S&P Global Inc. | −$72M |
| CWAN Clearwater Analytics Holdings, | −$66M |
| YUM Yum! Brands, Inc. | −$53M |
| MCO Moody's Corporation | −$51M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.09B | 611 | +10.80% | +17.59% | -6.79% | -0.31B |
| 2025-12-31 | $7.70B | 547 | +12.87% | +17.72% | -4.85% | -0.43B |
| 2025-09-30 | $7.84B | 445 | +8.35% | +17.52% | -9.17% | -0.84B |
| 2025-06-30 | $8.39B | 304 | +12.75% | +14.94% | -2.19% | -0.31B |
| 2025-03-31 | $8.10B | 287 | +2.94% | +8.30% | -5.36% | -0.48B |
| 2024-12-31 | $8.76B | 273 | +9.70% | +18.12% | -8.42% | -0.29B |
| 2024-09-30 | $9.09B | 292 | +13.56% | +18.79% | -5.23% | -0.44B |
| 2024-06-30 | $8.85B | 272 | +11.74% | +18.98% | -7.24% | -2.55B |
| 2017-09-30 | $11.63B | 317 | +18.49% | +18.49% | +0.00% | -0.47B |
| 2017-06-30 | $11.60B | 312 | +17.77% | +17.77% | +0.00% | -1.67B |
| 2017-03-31 | $12.87B | 325 | +17.07% | +17.07% | +0.00% | -3.30B |
| 2016-12-31 | $15.26B | 331 | +11.99% | +11.99% | +0.00% | -1.66B |
| 2016-09-30 | $16.28B | 315 | +3.78% | +3.78% | -0.00% | -0.83B |
| 2016-06-30 | $16.49B | 317 | +2.46% | +2.46% | -0.00% | -1.19B |
| 2016-03-31 | $17.26B | 322 | +1.33% | +1.33% | -0.00% | -0.10B |
| 2015-12-31 | $17.13B | 331 | — | — | — | — |