Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.54%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.95%
baseline attrition
Rally response
-1.01%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $195M | 6.5% | +60.9% | 6.3 yr |
| AAPLApple Inc. | $166M | 5.5% | +14.7% | 9.5 yr |
| MSFTMicrosoft Corporation | $126M | 4.2% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $93M | 3.1% | +9.5% | 9.5 yr |
| GOOGLAlphabet Inc. | $91M | 3.0% | — | 10.3 yr |
| AVGOBroadcom Inc. | $71M | 2.4% | +86.0% | 6.0 yr |
| LITELumentum Holdings Inc. | $65M | 2.1% | +1027.3% | 0.8 yr |
| XOMExxon Mobil Corporation | $64M | 2.1% | +47.6% | 10.5 yr |
| METAMeta Platforms, Inc. | $61M | 2.0% | -0.4% | 8.8 yr |
| VRTVertiv Holdings Co | $60M | 2.0% | +247.5% | 4.8 yr |
| WDCWestern Digital Corporat | $56M | 1.9% | +571.9% | 1.3 yr |
| JPMJPMorgan Chase & Co. | $52M | 1.7% | +21.8% | 10.5 yr |
| MUMicron Technology, Inc. | $48M | 1.6% | +289.6% | 8.5 yr |
| HWMHowmet Aerospace Inc. | $48M | 1.6% | +78.1% | 3.8 yr |
| GOOGAlphabet Inc. | $47M | 1.5% | +84.3% | 10.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.6%+2.3pp$349M
Internet Content & Information6.6%+0.2pp$199M
Consumer Electronics5.5%-0.1pp$166M
Software - Infrastructure5.1%-0.9pp$153M
Drug Manufacturers - General4.2%+0.4pp$125M
Specialty Retail4.0%-0.8pp$120M
Communication Equipment3.8%+3.4pp$113M
Banks - Diversified3.6%-0.7pp$108M
Aerospace & Defense2.8%-0.0pp$84M
Regulated Electric2.7%-0.1pp$82M
Country
US96.3%+0.0pp
Unknown1.8%+0.7pp
BM0.7%-0.2pp
CA0.7%-0.0pp
GB0.5%+0.0pp
Top 5: 22.3% · Top 10: 33.0% · Top 25: 53.7%
Top buys this quarter · 15
| R Ryder System, Inc.new | +$12M |
| CRNX Crinetics Pharmaceuticals, Incnew | +$12M |
| IQV IQVIA Holdings Inc. | +$3M |
| MRK Merck & Co., Inc. | +$3M |
| COP ConocoPhillips | +$2M |
| CME CME Group Inc. | +$2M |
| SN SharkNinja, Inc. | +$2M |
| CELH Celsius Holdings, Inc. | +$23M |
| CAT Caterpillar Inc. | +$1M |
| EHC Encompass Health Corporation | +$23M |
Top sells this quarter · 15
| NBIX Neurocrine Biosciences, Inc.exit | −$24M |
| NOW ServiceNow, Inc.exit | −$15M |
| LITE Lumentum Holdings Inc. | −$40M |
| CORT Corcept Therapeutics Incorporaexit | −$11M |
| MU Micron Technology, Inc. | −$10M |
| WDC Western Digital Corporation | −$42M |
| BSX Boston Scientific Corporation | −$10M |
| BLK BlackRock, Inc. | −$7M |
| GTLS Chart Industries, Inc. | −$5M |
| APP AppLovin Corporation | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.01B | 112 | +27.14% | +17.59% | +9.54% | -0.06B |
| 2025-12-31 | $3.09B | 113 | +21.86% | +17.72% | +4.14% | -0.04B |
| 2025-09-30 | $3.05B | 114 | +24.59% | +17.52% | +7.07% | -0.01B |
| 2025-06-30 | $2.76B | 112 | +18.74% | +14.94% | +3.80% | +0.01B |
| 2025-03-31 | $2.45B | 116 | +8.52% | +8.30% | +0.22% | -0.11B |
| 2024-12-31 | $2.68B | 116 | +28.54% | +24.89% | +3.65% | -0.08B |
| 2024-09-30 | $2.63B | 114 | +36.86% | +36.04% | +0.82% | -0.04B |
| 2024-06-30 | $2.53B | 116 | +25.79% | +24.49% | +1.30% | -0.07B |
| 2024-03-31 | $2.53B | 113 | +32.78% | +29.62% | +3.15% | +0.00B |
| 2023-12-31 | $2.24B | 115 | +23.03% | +26.18% | -3.15% | -0.05B |
| 2023-09-30 | $2.05B | 115 | +18.76% | +21.57% | -2.81% | -0.03B |
| 2023-06-30 | $2.15B | 123 | +21.43% | +19.42% | +2.01% | -2.00B |
| 2023-03-31 | $3.82B | 126 | -6.33% | -7.82% | +1.49% | +1.98B |
| 2022-12-31 | $1.75B | 116 | -14.65% | -18.17% | +3.52% | -0.02B |
| 2022-09-30 | $1.65B | 119 | -11.88% | -15.51% | +3.63% | -0.02B |
| 2022-06-30 | $1.68B | 129 | -10.59% | -10.62% | +0.03% | -0.34B |