Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.99%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.02%
steady accumulation
Rally response
-2.44%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JNJJohnson & Johnson | $404M | 5.2% | +51.5% | 10.5 yr |
| AAPLApple Inc. | $311M | 4.0% | +14.7% | 10.5 yr |
| NVDANVIDIA Corporation | $167M | 2.1% | +60.9% | 9.3 yr |
| MSFTMicrosoft Corporation | $159M | 2.0% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $139M | 1.8% | +86.0% | 7.8 yr |
| SPYState Street SPDR S&P 50 | $124M | 1.6% | +17.6% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $122M | 1.6% | +21.8% | 10.5 yr |
| VBVanguard Small-Cap ETF | $120M | 1.5% | — | 10.5 yr |
| VTIVanguard Total Stock Mar | $118M | 1.5% | — | 10.5 yr |
| QQQInvesco QQQ Trust, Serie | $113M | 1.5% | — | 8.0 yr |
| AMZNAmazon.com, Inc. | $112M | 1.4% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $100M | 1.3% | — | 10.5 yr |
| GOOGAlphabet Inc. | $98M | 1.3% | +84.3% | 10.5 yr |
| IVViShares Core S&P 500 ETF | $93M | 1.2% | — | 10.5 yr |
| METAMeta Platforms, Inc. | $93M | 1.2% | -0.4% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management22.7%+1.9pp$1.77B
Semiconductors9.6%+3.1pp$750M
Drug Manufacturers - General8.1%-4.6pp$632M
Internet Content & Information4.0%+0.5pp$314M
Consumer Electronics4.0%-0.4pp$311M
Banks - Diversified3.1%+0.1pp$244M
Software - Infrastructure3.1%-0.4pp$240M
Hardware, Equipment & Parts2.8%+0.4pp$219M
Aerospace & Defense2.3%+0.3pp$180M
Biotechnology2.1%+0.2pp$165M
Country
US94.6%+0.1pp
CA1.2%+0.3pp
IE0.9%+0.0pp
GB0.8%+0.1pp
BM0.7%-0.1pp
Unknown0.5%-0.3pp
BS0.3%-0.1pp
CH0.2%-0.0pp
Top 5: 15.2% · Top 10: 22.8% · Top 25: 38.7%
Top buys this quarter · 15
| QRVO Qorvo, Inc. | +$6M |
| AVAV AeroVironment, Inc. | +$6M |
| AR Antero Resources Corporationnew | +$5M |
| META Meta Platforms, Inc. | +$93M |
| ZS Zscaler, Inc. | +$5M |
| MRK Merck & Co., Inc. | +$5M |
| TENB Tenable Holdings, Inc. | +$4M |
| ITRI Itron, Inc. | +$4M |
| NOW ServiceNow, Inc. | +$4M |
| ABBV AbbVie Inc. | +$4M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$44M |
| MU Micron Technology, Inc. | −$26M |
| LRCX Lam Research Corporation | −$20M |
| VICR Vicor Corporation | −$15M |
| NVDA NVIDIA Corporation | −$14M |
| COHR Coherent, Inc. | −$62M |
| KVUE Kenvue Inc. | −$10M |
| TGNA TEGNA Inc.exit | −$7M |
| LASR nLIGHT, Inc. | −$33M |
| SEI Solaris Energy Infrastructure, | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.78B | 954 | +36.31% | +17.59% | +18.72% | -0.24B |
| 2025-12-31 | $7.79B | 930 | +28.05% | +17.72% | +10.33% | -0.17B |
| 2025-09-30 | $7.54B | 862 | +22.84% | +17.52% | +5.33% | -0.24B |
| 2025-06-30 | $6.91B | 844 | +14.74% | +14.94% | -0.20% | -0.69B |
| 2025-03-31 | $6.82B | 822 | +4.76% | +8.30% | -3.54% | -0.30B |
| 2024-12-31 | $7.37B | 830 | +15.57% | +24.89% | -9.31% | +1.50B |
| 2024-09-30 | $5.79B | 795 | +25.78% | +36.04% | -10.26% | -0.93B |
| 2024-06-30 | $6.39B | 811 | +12.32% | +24.49% | -12.18% | -0.06B |
| 2024-03-31 | $6.34B | 834 | +17.94% | +29.62% | -11.69% | +0.01B |
| 2023-12-31 | $5.94B | 817 | +17.08% | +26.18% | -9.09% | +0.01B |
| 2023-09-30 | $5.38B | 810 | +12.71% | +21.57% | -8.85% | -0.03B |
| 2023-06-30 | $5.76B | 810 | +13.26% | +19.42% | -6.16% | +0.54B |
| 2023-03-31 | $4.89B | 767 | -11.24% | -7.82% | -3.43% | +0.03B |
| 2022-12-31 | $4.59B | 773 | -20.02% | -18.17% | -1.84% | -0.03B |
| 2022-09-30 | $4.36B | 737 | -16.37% | -15.51% | -0.86% | +0.03B |
| 2022-06-30 | $4.59B | 744 | -10.89% | -10.62% | -0.27% | -0.14B |