Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.26%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.02%
baseline attrition
Rally response
-0.10%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AVGOBroadcom Inc. | $159M | 6.3% | +86.0% | 8.3 yr |
| GOOGLAlphabet Inc. | $122M | 4.8% | — | 7.3 yr |
| LLYEli Lilly and Company | $95M | 3.7% | +12.2% | 10.5 yr |
| AAPLApple Inc. | $91M | 3.6% | +14.7% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $90M | 3.6% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $87M | 3.4% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $76M | 3.0% | +9.5% | 10.5 yr |
| NVDANVIDIA Corporation | $72M | 2.8% | +60.9% | 3.8 yr |
| PANWPalo Alto Networks, Inc. | $69M | 2.7% | -6.0% | 9.0 yr |
| GSThe Goldman Sachs Group, | $66M | 2.6% | +58.1% | 9.5 yr |
| PEPPepsiCo, Inc. | $66M | 2.6% | +7.7% | 10.5 yr |
| UNPUnion Pacific Corporatio | $63M | 2.5% | +5.1% | 10.5 yr |
| SPYState Street SPDR S&P 50 | $60M | 2.4% | +17.6% | 10.5 yr |
| RTXRTX Corporation | $60M | 2.4% | +48.1% | 6.0 yr |
| DISThe Walt Disney Company | $58M | 2.3% | -1.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management10.8%+2.5pp$275M
Semiconductors10.4%+2.4pp$264M
Internet Content & Information7.8%+2.8pp$199M
Drug Manufacturers - General7.1%+0.5pp$180M
Software - Infrastructure7.1%-1.4pp$180M
Aerospace & Defense3.8%+1.8pp$97M
Insurance - Diversified3.8%-1.3pp$95M
Entertainment3.6%-0.5pp$92M
Consumer Electronics3.6%-0.0pp$91M
Medical - Devices3.3%-0.4pp$83M
Country
US93.7%+0.4pp
Unknown1.5%+1.5pp
CH1.4%-0.1pp
NL1.3%-0.1pp
IE1.2%-0.7pp
GB0.9%+0.1pp
BM0.0%-0.0pp
DK0.0%-0.0pp
Top 5: 21.9% · Top 10: 36.5% · Top 25: 65.7%
Top buys this quarter · 15
| NOC Northrop Grumman Corporationnew | +$21M |
| BSX Boston Scientific Corporationnew | +$11M |
| META Meta Platforms, Inc. | +$10M |
| WMT Walmart Inc. | +$1M |
| CRWD CrowdStrike Holdings, Inc.new | +$0M |
| MA Mastercard Incorporated | +$0M |
| VRT Vertiv Holdings Conew | +$0M |
| Q Qnity Electronics, Inc.new | +$0M |
| SPY State Street SPDR S&P 500 ETF | +$60M |
| V Visa Inc. | +$0M |
Top sells this quarter · 15
| FTV Fortive Corporationexit | −$16M |
| ROP Roper Technologies, Inc.exit | −$14M |
| ACN Accenture plcexit | −$12M |
| CRCL Circle Internet Group | −$6M |
| GLW Corning Incorporated | −$2M |
| BK The Bank of New York Mellon Co | −$1M |
| RTX RTX Corporation | −$58M |
| PANW Palo Alto Networks, Inc. | −$1M |
| NVDA NVIDIA Corporation | −$1M |
| AXP American Express Company | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.54B | 186 | +14.65% | +17.59% | -2.94% | +0.01B |
| 2025-12-31 | $2.67B | 186 | +15.05% | +17.72% | -2.67% | -0.07B |
| 2025-09-30 | $2.65B | 193 | +13.09% | +17.52% | -4.43% | -0.01B |
| 2025-06-30 | $2.53B | 188 | +13.26% | +14.94% | -1.69% | -0.09B |
| 2025-03-31 | $2.35B | 181 | +2.62% | +8.30% | -5.68% | -0.01B |
| 2024-12-31 | $2.48B | 180 | +17.79% | +24.89% | -7.10% | -0.07B |
| 2024-09-30 | $2.52B | 184 | +30.59% | +36.04% | -5.45% | -0.03B |
| 2024-06-30 | $2.41B | 182 | +17.96% | +24.49% | -6.53% | -0.02B |
| 2024-03-31 | $2.41B | 185 | +25.29% | +29.62% | -4.33% | -0.04B |
| 2023-12-31 | $2.24B | 180 | +20.21% | +26.18% | -5.97% | -0.06B |
| 2023-09-30 | $2.05B | 176 | +14.64% | +21.57% | -6.93% | -0.01B |
| 2023-06-30 | $2.16B | 169 | +15.24% | +19.42% | -4.19% | +0.02B |
| 2023-03-31 | $2.00B | 168 | -8.24% | -7.82% | -0.42% | -0.02B |
| 2022-12-31 | $1.93B | 176 | -16.51% | -18.17% | +1.66% | -0.02B |
| 2022-09-30 | $1.82B | 172 | -13.55% | -15.51% | +1.96% | -0.02B |
| 2022-06-30 | $1.92B | 172 | -9.04% | -10.62% | +1.59% | -0.07B |