Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.89%
trims when stocks drop
when a holding falls −10%+
Middle response
+5.00%
steady accumulation
Rally response
-1.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.27B | 5.2% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $2.01B | 4.6% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.41B | 3.2% | -0.6% | 10.5 yr |
| RSPInvesco S&P 500 Equal We | $1.27B | 2.9% | — | 1.5 yr |
| AMZNAmazon.com, Inc. | $1.08B | 2.5% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $900M | 2.1% | — | 10.5 yr |
| AVGOBroadcom Inc. | $760M | 1.8% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $747M | 1.7% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $668M | 1.5% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $563M | 1.3% | +43.4% | 10.5 yr |
| BRK-ABerkshire Hathaway Inc. | $452M | 1.0% | — | 1.8 yr |
| JPMJPMorgan Chase & Co. | $429M | 1.0% | +21.8% | 10.5 yr |
| FOXFox Corporation | $415M | 1.0% | +1.8% | 7.3 yr |
| LLYEli Lilly and Company | $397M | 0.9% | +12.2% | 10.5 yr |
| HAPIHarbor Human Capital Fac | $392M | 0.9% | — | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors10.5%+3.0pp$4.53B
Asset Management7.8%+1.1pp$3.39B
Internet Content & Information5.8%-0.2pp$2.52B
Software - Infrastructure5.0%-1.0pp$2.18B
Consumer Electronics4.7%-0.4pp$2.03B
Drug Manufacturers - General3.6%+0.1pp$1.57B
Specialty Retail3.2%-0.3pp$1.37B
Banks - Diversified2.8%+0.5pp$1.20B
Aerospace & Defense2.7%+0.5pp$1.18B
Entertainment2.7%+0.0pp$1.16B
Country
US92.7%-2.7pp
CA2.0%+1.8pp
Unknown1.4%+0.2pp
IE1.0%-0.2pp
GB0.8%+0.2pp
BM0.7%+0.4pp
CH0.4%+0.1pp
SG0.2%+0.1pp
Top 5: 18.5% · Top 10: 26.9% · Top 25: 38.4%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$98M |
| Z Zillow Group, Inc. Class C | +$82M |
| NVDA NVIDIA Corporation | +$2.27B |
| AAPL Apple Inc. | +$2.01B |
| MSFT Microsoft Corporation | +$1.41B |
| AMZN Amazon.com, Inc. | +$1.08B |
| NSC Norfolk Southern Corporation | +$32M |
| META Meta Platforms, Inc. | +$668M |
| AVGO Broadcom Inc. | +$760M |
| WBD Warner Bros. Discovery, Inc. | +$21M |
Top sells this quarter · 15
| BIP Brookfield Infrastructure Part | −$43M |
| ZG Zillow Group, Inc. Class Aexit | −$25M |
| PNFP Pinnacle Financial Partners, Iexit | −$22M |
| BEP Brookfield Renewable Partners | −$131M |
| CTRA Coterra Energy Inc. | −$15M |
| CW Curtiss-Wright Corporation | −$12M |
| RY Royal Bank of Canada | −$12M |
| GIL Gildan Activewear Inc. | −$10M |
| VLO Valero Energy Corporation | −$39M |
| EQT EQT Corporation | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $43.36B | 2389 | +19.47% | +17.59% | +1.87% | +0.69B |
| 2025-12-31 | $44.24B | 2261 | +17.89% | +17.72% | +0.17% | -0.37B |
| 2025-09-30 | $43.18B | 2274 | +17.03% | +17.52% | -0.49% | -0.80B |
| 2025-06-30 | $40.76B | 2256 | +15.97% | +14.94% | +1.02% | -2.17B |
| 2025-03-31 | $38.63B | 2235 | +5.60% | +8.30% | -2.70% | +1.84B |
| 2024-12-31 | $38.66B | 2253 | +19.27% | +24.89% | -5.62% | -1.99B |
| 2024-09-30 | $39.64B | 2271 | +30.04% | +36.04% | -5.99% | -0.62B |
| 2024-06-30 | $37.65B | 2288 | +17.18% | +24.49% | -7.31% | -0.63B |
| 2024-03-31 | $37.83B | 2205 | +24.05% | +29.62% | -5.58% | -0.10B |
| 2023-12-31 | $35.29B | 2339 | +23.36% | +26.18% | -2.82% | -0.46B |
| 2023-09-30 | $31.97B | 2490 | +17.61% | +21.57% | -3.96% | -2.22B |
| 2023-06-30 | $35.49B | 2317 | +16.60% | +19.42% | -2.83% | -0.44B |
| 2023-03-31 | $33.54B | 2523 | -8.73% | -7.82% | -0.91% | +0.43B |
| 2022-12-31 | $30.98B | 2482 | -18.55% | -18.17% | -0.38% | -2.56B |
| 2022-09-30 | $31.47B | 2670 | -15.14% | -15.51% | +0.37% | -5.08B |
| 2022-06-30 | $38.26B | 2779 | -10.65% | -10.62% | -0.03% | -2.13B |