Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.59%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.91%
steady accumulation
Rally response
-3.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $2.74B | 19.2% | +17.6% | 6.3 yr |
| NVDANVIDIA Corporation | $837M | 5.9% | +60.9% | 6.5 yr |
| AAPLApple Inc. | $529M | 3.7% | +14.7% | 6.3 yr |
| MSFTMicrosoft Corporation | $523M | 3.7% | -0.6% | 6.5 yr |
| GOOGLAlphabet Inc. | $363M | 2.5% | — | 6.5 yr |
| BILState Street SPDR Bloomb | $325M | 2.3% | — | 6.5 yr |
| AMZNAmazon.com, Inc. | $325M | 2.3% | +9.5% | 6.3 yr |
| AVGOBroadcom Inc. | $315M | 2.2% | +86.0% | 6.5 yr |
| METAMeta Platforms, Inc. | $311M | 2.2% | -0.4% | 6.5 yr |
| GLDSPDR Gold Shares | $199M | 1.4% | — | 6.5 yr |
| GOOGAlphabet Inc. | $195M | 1.4% | +84.3% | 6.5 yr |
| IVViShares Core S&P 500 ETF | $188M | 1.3% | — | 6.5 yr |
| VCSHVanguard Short-Term Corp | $173M | 1.2% | — | 6.5 yr |
| SHViShares 0â1 Year Treas | $157M | 1.1% | — | 6.5 yr |
| — | $135M | 0.9% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management32.2%+9.5pp$4.61B
Semiconductors12.5%+4.4pp$1.78B
Internet Content & Information6.2%-1.1pp$888M
Software - Infrastructure5.8%-0.6pp$833M
Consumer Electronics3.7%-0.6pp$529M
Specialty Retail3.5%-1.1pp$505M
Drug Manufacturers - General2.9%-0.9pp$413M
Asset Management - Bonds2.8%-0.9pp$396M
Software - Application2.1%-1.1pp$295M
Financial - Credit Services1.9%-1.6pp$274M
Country
US96.7%-1.5pp
Unknown1.1%+0.8pp
CA0.5%+0.1pp
CN0.4%-0.1pp
GB0.4%+0.3pp
UY0.4%+0.3pp
DK0.3%+0.2pp
NL0.1%+0.0pp
Top 5: 34.9% · Top 10: 45.2% · Top 25: 58.2%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$704M |
| MSFT Microsoft Corporation | +$523M |
| NVDA NVIDIA Corporation | +$837M |
| AMZN Amazon.com, Inc. | +$50M |
| AVGO Broadcom Inc. | +$45M |
| MU Micron Technology, Inc. | +$44M |
| META Meta Platforms, Inc. | +$311M |
| LLY Eli Lilly and Company | +$34M |
| NVO Novo Nordisk A/S | +$34M |
| AMAT Applied Materials, Inc. | +$32M |
Top sells this quarter · 15
| PSNY Polestar Automotive Holding UKexit | −$166M |
| GOOG Alphabet Inc. | −$63M |
| AAPL Apple Inc. | −$39M |
| TSLA Tesla, Inc. | −$35M |
| GILD Gilead Sciences, Inc. | −$29M |
| AMGN Amgen Inc. | −$24M |
| VRTX Vertex Pharmaceuticals Incorpo | −$24M |
| MS Morgan Stanley | −$21M |
| NBIX Neurocrine Biosciences, Inc. | −$19M |
| BIIB Biogen Inc. | −$19M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $14.29B | 726 | +18.80% | +17.59% | +1.21% | +0.80B |
| 2025-12-31 | $14.35B | 724 | +19.23% | +17.72% | +1.51% | +1.02B |
| 2025-09-30 | $13.07B | 726 | +21.93% | +17.52% | +4.41% | +1.08B |
| 2025-06-30 | $11.03B | 690 | +17.20% | +14.94% | +2.25% | -0.29B |
| 2025-03-31 | $9.93B | 719 | +4.59% | +8.30% | -3.71% | +0.95B |
| 2024-12-31 | $9.52B | 690 | +20.27% | +24.89% | -4.62% | -0.91B |
| 2024-09-30 | $10.00B | 706 | +31.29% | +36.04% | -4.75% | +0.04B |
| 2024-06-30 | $9.53B | 728 | +20.83% | +24.49% | -3.67% | +0.66B |
| 2024-03-31 | $8.72B | 759 | +28.07% | +29.62% | -1.55% | -0.44B |
| 2023-12-31 | $8.45B | 731 | +30.38% | +26.18% | +4.20% | +0.29B |
| 2023-09-30 | $7.16B | 720 | +19.23% | +21.57% | -2.34% | -0.23B |
| 2023-06-30 | $7.69B | 705 | +16.76% | +19.42% | -2.66% | -0.92B |
| 2023-03-31 | $7.98B | 714 | -12.28% | -7.82% | -4.46% | +0.42B |
| 2022-12-31 | $6.85B | 712 | -24.22% | -18.17% | -6.05% | +0.37B |
| 2022-09-30 | $6.22B | 718 | -19.19% | -15.51% | -3.68% | -0.02B |
| 2022-06-30 | $6.63B | 693 | -13.68% | -10.62% | -3.05% | +0.63B |