Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.72%
baseline attrition
Rally response
+1.62%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VTIVanguard Total Stock Mar | $1.18B | 6.2% | — | 4.5 yr |
| NVDANVIDIA Corporation | $1.05B | 5.6% | +60.9% | 8.5 yr |
| AAPLApple Inc. | $821M | 4.4% | +14.7% | 8.5 yr |
| SPLGSPDR Portfolio S&P 500 E | $765M | 4.1% | — | 1.0 yr |
| KOKUXtrackers MSCI Kokusai E | $690M | 3.7% | — | 6.0 yr |
| MSFTMicrosoft Corporation | $618M | 3.3% | -0.6% | 8.5 yr |
| XLFState Street Financial S | $491M | 2.6% | — | 2.8 yr |
| AMZNAmazon.com, Inc. | $474M | 2.5% | +9.5% | 8.5 yr |
| GOOGLAlphabet Inc. | $473M | 2.5% | — | 8.5 yr |
| AVGOBroadcom Inc. | $457M | 2.4% | +86.0% | 8.0 yr |
| XLVState Street Health Care | $396M | 2.1% | — | 5.3 yr |
| QQQInvesco QQQ Trust, Serie | $381M | 2.0% | — | 5.0 yr |
| IVViShares Core S&P 500 ETF | $367M | 1.9% | — | 5.3 yr |
| METAMeta Platforms, Inc. | $337M | 1.8% | -0.4% | 8.5 yr |
| TSLATesla, Inc. | $288M | 1.5% | +43.4% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.6%-1.3pp$5.77B
Semiconductors13.9%+5.1pp$2.62B
Internet Content & Information5.8%+1.5pp$1.10B
Software - Infrastructure5.0%-0.4pp$939M
Consumer Electronics4.4%-0.3pp$821M
Specialty Retail3.2%-0.5pp$611M
Drug Manufacturers - General2.8%+0.4pp$529M
Discount Stores1.8%+0.5pp$346M
Software - Application1.8%-1.0pp$337M
Aerospace & Defense1.7%+0.5pp$329M
Country
US99.0%+2.6pp
CA0.2%+0.0pp
NL0.2%-0.1pp
UY0.1%-0.0pp
TW0.1%-0.0pp
Unknown0.1%-0.2pp
GB0.1%-0.8pp
SG0.1%-0.1pp
Top 5: 23.9% · Top 10: 37.2% · Top 25: 56.9%
Top buys this quarter · 15
| GE GE Aerospace | +$73M |
| RSG Republic Services, Inc. | +$60M |
| AMZN Amazon.com, Inc. | +$56M |
| WMT Walmart Inc. | +$49M |
| PNC The PNC Financial Services Gro | +$46M |
| NVDA NVIDIA Corporation | +$1.05B |
| TSLA Tesla, Inc. | +$288M |
| ADI Analog Devices, Inc. | +$31M |
| COST Costco Wholesale Corporation | +$30M |
| META Meta Platforms, Inc. | +$337M |
Top sells this quarter · 15
| TMO Thermo Fisher Scientific Inc. | −$50M |
| APH Amphenol Corporation | −$42M |
| ROK Rockwell Automation, Inc. | −$36M |
| DE Deere & Company | −$35M |
| GS The Goldman Sachs Group, Inc. | −$34M |
| MSFT Microsoft Corporation | −$26M |
| JPM JPMorgan Chase & Co. | −$21M |
| VRT Vertiv Holdings Co | −$43M |
| GEV GE Vernova Inc. | −$74M |
| INTU Intuit Inc. | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $18.86B | 665 | +18.63% | +17.59% | +1.03% | +0.58B |
| 2025-12-31 | $19.22B | 668 | +17.70% | +17.72% | -0.02% | +0.76B |
| 2025-09-30 | $18.11B | 667 | +18.63% | +17.52% | +1.12% | -0.35B |
| 2025-06-30 | $17.08B | 695 | +15.51% | +14.94% | +0.57% | -0.34B |
| 2025-03-31 | $15.39B | 728 | +4.68% | +8.30% | -3.62% | -0.09B |
| 2024-12-31 | $16.40B | 741 | +20.27% | +24.89% | -4.62% | +0.17B |
| 2024-09-30 | $15.79B | 749 | +32.41% | +36.04% | -3.63% | -0.10B |
| 2024-06-30 | $15.11B | 756 | +21.16% | +24.49% | -3.33% | +0.30B |
| 2024-03-31 | $14.43B | 762 | +27.40% | +29.62% | -2.22% | +0.95B |
| 2023-12-31 | $12.43B | 742 | +26.07% | +26.18% | -0.11% | -0.32B |
| 2023-09-30 | $11.28B | 766 | +18.89% | +21.57% | -2.68% | +0.12B |
| 2023-06-30 | $11.59B | 766 | +17.58% | +19.42% | -1.84% | -0.48B |
| 2023-03-31 | $11.19B | 752 | -8.29% | -7.82% | -0.47% | -0.03B |
| 2022-12-31 | $10.46B | 747 | -16.51% | -18.17% | +1.66% | +0.31B |
| 2022-09-30 | $9.52B | 743 | -13.05% | -15.51% | +2.46% | -0.04B |
| 2022-06-30 | $10.05B | 744 | -8.16% | -10.62% | +2.46% | +0.39B |