Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.33%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.80%
baseline attrition
Rally response
-2.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.26B | 6.7% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $990M | 5.2% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $762M | 4.0% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $563M | 3.0% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $523M | 2.8% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $486M | 2.6% | -0.4% | 10.5 yr |
| GOOGLAlphabet Inc. | $459M | 2.4% | — | 10.5 yr |
| GOOGAlphabet Inc. | $451M | 2.4% | +84.3% | 10.5 yr |
| MTUMiShares MSCI USA Momentu | $322M | 1.7% | — | 5.8 yr |
| TSLATesla, Inc. | $273M | 1.4% | +43.4% | 6.3 yr |
| LQDiShares iBoxx $ Investme | $237M | 1.3% | — | 6.0 yr |
| JPMJPMorgan Chase & Co. | $207M | 1.1% | +21.8% | 10.5 yr |
| ADBEAdobe Inc. | $200M | 1.1% | -36.6% | 10.5 yr |
| LLYEli Lilly and Company | $198M | 1.0% | +12.2% | 10.5 yr |
| XOMExxon Mobil Corporation | $185M | 1.0% | +47.6% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.7%+3.9pp$2.59B
Internet Content & Information7.6%+1.2pp$1.44B
Software - Infrastructure5.9%-0.8pp$1.11B
Asset Management5.6%-2.2pp$1.06B
Consumer Electronics5.3%-0.4pp$994M
Drug Manufacturers - General3.9%-0.0pp$744M
Specialty Retail3.7%-0.6pp$704M
Software - Application3.4%+0.7pp$647M
Banks - Diversified2.4%-0.1pp$463M
Aerospace & Defense2.3%+0.2pp$441M
Country
US96.6%+0.0pp
IE1.2%-0.1pp
GB0.5%-0.1pp
TW0.2%+0.1pp
CH0.2%-0.0pp
Unknown0.2%+0.0pp
SG0.2%+0.1pp
CN0.1%-0.0pp
Top 5: 21.7% · Top 10: 32.2% · Top 25: 45.3%
Top buys this quarter · 15
| ADBE Adobe Inc. | +$170M |
| CHTR Charter Communications, Inc. | +$88M |
| KR The Kroger Co. | +$65M |
| DUOL Duolingo, Inc. | +$62M |
| FDS FactSet Research Systems Inc. | +$45M |
| VRT Vertiv Holdings Co | +$39M |
| MOH Molina Healthcare, Inc. | +$28M |
| UNH UnitedHealth Group Incorporate | +$76M |
| HIMS Hims & Hers Health, Inc. | +$49M |
| PANW Palo Alto Networks, Inc. | +$5M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$396M |
| NVDA NVIDIA Corporation | −$142M |
| AAPL Apple Inc. | −$72M |
| MSFT Microsoft Corporation | −$65M |
| AMZN Amazon.com, Inc. | −$62M |
| JPM JPMorgan Chase & Co. | −$61M |
| COST Costco Wholesale Corporation | −$50M |
| AVGO Broadcom Inc. | −$49M |
| ISRG Intuitive Surgical, Inc. | −$48M |
| AMD Advanced Micro Devices, Inc. | −$46M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $18.93B | 940 | +17.84% | +17.59% | +0.25% | -0.61B |
| 2025-12-31 | $20.56B | 934 | +18.76% | +17.72% | +1.04% | -0.69B |
| 2025-09-30 | $20.81B | 943 | +18.99% | +17.52% | +1.47% | -0.06B |
| 2025-06-30 | $19.31B | 943 | +16.98% | +14.94% | +2.04% | -0.17B |
| 2025-03-31 | $17.33B | 943 | +6.71% | +8.30% | -1.60% | -1.08B |
| 2024-12-31 | $19.23B | 950 | +21.20% | +24.89% | -3.69% | -1.40B |
| 2024-09-30 | $20.16B | 949 | +32.88% | +36.04% | -3.15% | -0.51B |
| 2024-06-30 | $19.46B | 949 | +20.18% | +24.49% | -4.31% | +0.39B |
| 2024-03-31 | $18.60B | 955 | +25.94% | +29.62% | -3.68% | +0.32B |
| 2023-12-31 | $16.81B | 958 | +23.28% | +26.18% | -2.89% | -0.54B |
| 2023-09-30 | $15.46B | 964 | +17.11% | +21.57% | -4.46% | -0.11B |
| 2023-06-30 | $16.20B | 968 | +15.04% | +19.42% | -4.38% | -0.14B |
| 2023-03-31 | $15.21B | 967 | -8.75% | -7.82% | -0.94% | -0.07B |
| 2022-12-31 | $14.35B | 966 | -18.25% | -18.17% | -0.07% | -0.16B |
| 2022-09-30 | $13.61B | 965 | -14.80% | -15.51% | +0.70% | -0.16B |
| 2022-06-30 | $14.59B | 969 | -9.22% | -10.62% | +1.41% | -0.14B |