Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.27%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.73%
steady accumulation
Rally response
+0.55%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ACWXiShares MSCI ACWI ex U.S | $377M | 5.2% | — | 5.5 yr |
| GOOGLAlphabet Inc. | $348M | 4.8% | — | 10.5 yr |
| AAPLApple Inc. | $346M | 4.8% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $336M | 4.6% | -0.6% | 10.5 yr |
| NVDANVIDIA Corporation | $327M | 4.5% | +60.9% | 7.3 yr |
| JPMJPMorgan Chase & Co. | $220M | 3.0% | +21.8% | 10.5 yr |
| AVGOBroadcom Inc. | $217M | 3.0% | +86.0% | 8.3 yr |
| CVXChevron Corporation | $187M | 2.6% | +29.2% | 10.5 yr |
| AGGiShares Core U.S. Aggreg | $169M | 2.3% | — | 0.3 yr |
| ETREntergy Corporation | $159M | 2.2% | +35.0% | 10.3 yr |
| AMZNAmazon.com, Inc. | $153M | 2.1% | +9.5% | 10.5 yr |
| ABBVAbbVie Inc. | $141M | 2.0% | +7.3% | 10.5 yr |
| MBBiShares MBS ETF | $139M | 1.9% | — | 0.3 yr |
| IVViShares Core S&P 500 ETF | $137M | 1.9% | — | 10.5 yr |
| PGThe Procter & Gamble Com | $130M | 1.8% | -12.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management19.3%+10.7pp$1.40B
Semiconductors9.5%+1.7pp$691M
Drug Manufacturers - General6.5%+0.2pp$469M
Internet Content & Information5.6%+0.4pp$405M
Banks - Diversified5.4%+0.1pp$389M
Software - Infrastructure5.2%-2.8pp$377M
Consumer Electronics5.1%-0.2pp$370M
Regulated Electric4.3%+1.0pp$308M
Unknown3.9%-0.8pp$282M
Oil & Gas Integrated3.2%+0.3pp$228M
Country
US90.8%-4.2pp
Unknown3.9%-0.8pp
JP0.8%
FR0.7%
GB0.7%
TW0.7%
IE0.6%+0.3pp
CH0.4%
Top 5: 24.0% · Top 10: 37.1% · Top 25: 62.4%
Top buys this quarter · 15
| HON Honeywell International Inc. | +$68M |
| JNJ Johnson & Johnson | +$49M |
| TSM Taiwan Semiconductor Manufactu | +$45M |
| SMFG Sumitomo Mitsui Financial Grou | +$33M |
| PANW Palo Alto Networks, Inc. | +$29M |
| APP AppLovin Corporationnew | +$26M |
| FCX Freeport-McMoRan Inc.new | +$26M |
| BCS Barclays PLCnew | +$25M |
| NVS Novartis AG | +$24M |
| CNQ Canadian Natural Resources Limnew | +$24M |
Top sells this quarter · 15
| MRK Merck & Co., Inc. | −$45M |
| ADP Automatic Data Processing, Inc | −$41M |
| MSFT Microsoft Corporation | −$27M |
| ETR Entergy Corporation | −$151M |
| CSCO Cisco Systems, Inc. | −$25M |
| WMT Walmart Inc. | −$21M |
| ING ING Groep N.V. | −$21M |
| TTE TotalEnergies SE | −$19M |
| NXPI NXP Semiconductors N.V. | −$17M |
| TD The Toronto-Dominion Bank | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.24B | 405 | +15.43% | +17.59% | -2.16% | +1.18B |
| 2025-12-31 | $6.24B | 358 | +16.38% | +17.72% | -1.34% | -0.02B |
| 2025-09-30 | $6.16B | 354 | +17.55% | +17.52% | +0.03% | +0.09B |
| 2025-06-30 | $5.68B | 338 | +17.05% | +14.94% | +2.11% | +0.04B |
| 2025-03-31 | $5.15B | 357 | +8.70% | +8.30% | +0.39% | +0.01B |
| 2024-12-31 | $5.25B | 345 | +19.23% | +24.89% | -5.66% | -0.04B |
| 2024-09-30 | $5.17B | 362 | +28.57% | +36.04% | -7.46% | -0.07B |
| 2024-06-30 | $4.92B | 354 | +15.99% | +24.49% | -8.50% | -0.06B |
| 2024-03-31 | $4.90B | 368 | +20.93% | +29.62% | -8.70% | +0.11B |
| 2023-12-31 | $4.46B | 362 | +16.25% | +26.18% | -9.93% | -0.05B |
| 2023-09-30 | $4.08B | 349 | +15.67% | +21.57% | -5.90% | -0.00B |
| 2023-06-30 | $4.26B | 363 | +14.76% | +19.42% | -4.66% | +0.03B |
| 2023-03-31 | $3.98B | 348 | -4.93% | -7.82% | +2.88% | +0.02B |
| 2022-12-31 | $3.84B | 338 | -12.19% | -18.17% | +5.98% | +1.03B |
| 2022-09-30 | $2.56B | 294 | -11.33% | -15.51% | +4.18% | -0.01B |
| 2022-06-30 | $2.70B | 304 | -6.42% | -10.62% | +4.20% | -0.09B |