Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.18%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.30%
steady accumulation
Rally response
-0.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $3.13B | 6.6% | +60.9% | 8.5 yr |
| AAPLApple Inc. | $2.53B | 5.3% | +14.7% | 8.3 yr |
| MSFTMicrosoft Corporation | $2.10B | 4.4% | -0.6% | 8.5 yr |
| AZNAstraZeneca PLC | $2.03B | 4.3% | +36.2% | 0.3 yr |
| GOOGLAlphabet Inc. | $2.02B | 4.2% | — | 7.5 yr |
| AMZNAmazon.com, Inc. | $1.84B | 3.9% | +9.5% | 8.3 yr |
| AVGOBroadcom Inc. | $1.26B | 2.6% | +86.0% | 7.5 yr |
| METAMeta Platforms, Inc. | $766M | 1.6% | -0.4% | 8.5 yr |
| VVisa Inc. | $677M | 1.4% | -13.1% | 8.5 yr |
| JPMJPMorgan Chase & Co. | $653M | 1.4% | +21.8% | 8.3 yr |
| LLYEli Lilly and Company | $604M | 1.3% | +12.2% | 8.5 yr |
| GOOGAlphabet Inc. | $584M | 1.2% | +84.3% | 7.5 yr |
| TSLATesla, Inc. | $581M | 1.2% | +43.4% | 8.5 yr |
| TSMTaiwan Semiconductor Man | $538M | 1.1% | +105.6% | 8.0 yr |
| BRK-BBerkshire Hathaway Inc. | $457M | 1.0% | — | 8.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.2%+4.3pp$6.75B
Drug Manufacturers - General8.2%+3.9pp$3.92B
Internet Content & Information7.3%+1.2pp$3.46B
Software - Infrastructure6.1%-1.5pp$2.90B
Consumer Electronics5.7%+0.1pp$2.72B
Specialty Retail5.2%-0.8pp$2.46B
Banks - Diversified3.0%-0.1pp$1.42B
Financial - Credit Services2.7%-0.8pp$1.28B
Software - Application1.9%-1.2pp$921M
Oil & Gas Integrated1.9%+0.6pp$891M
Country
US87.1%-4.3pp
GB5.4%+4.0pp
IE1.3%-0.4pp
CA1.2%+0.3pp
TW1.1%+0.1pp
UY0.8%-0.4pp
CH0.7%-0.0pp
Unknown0.5%+0.1pp
Top 5: 24.8% · Top 10: 35.8% · Top 25: 48.2%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$2.03B |
| NXT Nextpower Inc.new | +$188M |
| RPRX Royalty Pharma plc | +$174M |
| SUNB Sunbelt Rentals Holdings Incnew | +$165M |
| HUBB Hubbell Incorporated | +$109M |
| CB Chubb Limited | +$106M |
| EQT EQT Corporation | +$93M |
| SBS Companhia de Saneamento Básicnew | +$81M |
| BWA BorgWarner Inc. | +$64M |
| LMT Lockheed Martin Corporation | +$63M |
Top sells this quarter · 15
| TSM Taiwan Semiconductor Manufactu | −$104M |
| MSFT Microsoft Corporation | −$101M |
| AEM Agnico Eagle Mines Limited | −$86M |
| FIX Comfort Systems USA, Inc. | −$182M |
| STLD Steel Dynamics, Inc. | −$77M |
| LLY Eli Lilly and Company | −$77M |
| HCA HCA Healthcare, Inc. | −$72M |
| PGR The Progressive Corporation | −$66M |
| ELS Equity LifeStyle Properties, I | −$59M |
| AIT Applied Industrial Technologie | −$55M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $47.56B | 686 | +17.29% | +17.59% | -0.30% | +1.90B |
| 2025-12-31 | $47.53B | 701 | +17.42% | +17.72% | -0.30% | +0.03B |
| 2025-09-30 | $46.52B | 688 | +16.56% | +17.52% | -0.95% | -0.34B |
| 2025-06-30 | $43.83B | 715 | +15.54% | +14.94% | +0.60% | -3.41B |
| 2025-03-31 | $42.24B | 744 | +4.83% | +8.30% | -3.48% | +2.80B |
| 2024-12-31 | $41.01B | 632 | +19.15% | +24.89% | -5.74% | -0.16B |
| 2024-09-30 | $40.61B | 634 | +31.95% | +36.04% | -4.09% | -0.90B |
| 2024-06-30 | $39.17B | 665 | +20.53% | +24.49% | -3.97% | -1.54B |
| 2024-03-31 | $40.12B | 668 | +28.87% | +29.62% | -0.75% | +1.22B |
| 2023-12-31 | $35.59B | 681 | +27.90% | +26.18% | +1.73% | +0.94B |
| 2023-09-30 | $30.86B | 680 | +22.91% | +21.57% | +1.35% | +0.94B |
| 2023-06-30 | $30.90B | 677 | +21.19% | +19.42% | +1.77% | +3.82B |
| 2023-03-31 | $24.97B | 671 | -4.76% | -7.82% | +3.06% | +0.77B |
| 2022-12-31 | $22.30B | 678 | +7.87% | +7.56% | +0.31% | +1.01B |
| 2022-09-30 | $19.74B | 658 | -4.55% | -4.93% | +0.38% | -0.97B |
| 2022-06-30 | $21.69B | 669 | -14.75% | -16.11% | +1.36% | -0.15B |