Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.67%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.06%
baseline attrition
Rally response
-2.92%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.93B | 7.2% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $1.60B | 6.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $1.10B | 4.1% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $867M | 3.2% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $729M | 2.7% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $607M | 2.3% | +86.0% | 8.0 yr |
| METAMeta Platforms, Inc. | $583M | 2.2% | -0.4% | 10.5 yr |
| GOOGAlphabet Inc. | $546M | 2.0% | +84.3% | 10.5 yr |
| TSLATesla, Inc. | $329M | 1.2% | +43.4% | 10.5 yr |
| MAMastercard Incorporated | $324M | 1.2% | -8.5% | 10.5 yr |
| XOMExxon Mobil Corporation | $300M | 1.1% | +47.6% | 10.5 yr |
| LLYEli Lilly and Company | $297M | 1.1% | +12.2% | 10.5 yr |
| PMPhilip Morris Internatio | $249M | 0.9% | +7.9% | 10.5 yr |
| WMTWalmart Inc. | $233M | 0.9% | +42.8% | 10.5 yr |
| GEGE Aerospace | $231M | 0.9% | +42.5% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.1%+4.0pp$3.49B
Internet Content & Information7.8%+1.3pp$2.07B
Consumer Electronics6.1%-0.4pp$1.62B
Software - Infrastructure5.9%-0.7pp$1.57B
Drug Manufacturers - General4.0%+0.5pp$1.06B
Specialty Retail3.8%-0.9pp$1.01B
Software - Application3.0%-2.8pp$802M
Banks - Diversified3.0%-0.6pp$791M
Financial - Credit Services3.0%-1.6pp$788M
Aerospace & Defense2.5%+1.1pp$666M
Country
US95.3%+0.6pp
IE1.7%-0.7pp
BM0.5%+0.4pp
CH0.3%+0.1pp
GB0.3%-0.2pp
Unknown0.2%-0.0pp
IN0.2%-0.0pp
SG0.2%+0.1pp
Top 5: 23.3% · Top 10: 32.3% · Top 25: 44.4%
Top buys this quarter · 15
| GE GE Aerospace | +$161M |
| MPC Marathon Petroleum Corporation | +$100M |
| MTB M&T Bank Corporation | +$78M |
| ADI Analog Devices, Inc. | +$67M |
| COP ConocoPhillips | +$67M |
| FDX FedEx Corporation | +$58M |
| GRMN Garmin Ltd. | +$54M |
| JCI Johnson Controls International | +$53M |
| XOM Exxon Mobil Corporation | +$51M |
| HST Host Hotels & Resorts, Inc. | +$48M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $26.69B | 1156 | +19.02% | +17.59% | +1.43% | -0.25B |
| 2025-12-31 | $28.21B | 1175 | +17.72% | +17.72% | +0.01% | +3.00B |
| 2025-09-30 | $24.82B | 1145 | +19.00% | +17.52% | +1.49% | +0.69B |
| 2025-06-30 | $22.17B | 1110 | +15.97% | +14.94% | +1.03% | -0.38B |
| 2025-03-31 | $20.00B | 1096 | +4.70% | +8.30% | -3.61% | -0.41B |
| 2024-12-31 | $21.61B | 1128 | +20.80% | +24.89% | -4.08% | +0.15B |
| 2024-09-30 | $20.90B | 1190 | +31.27% | +36.04% | -4.77% | -0.15B |
| 2024-06-30 | $19.86B | 1179 | +20.55% | +24.49% | -3.94% | +0.34B |
| 2024-03-31 | $19.17B | 1199 | +26.21% | +29.62% | -3.41% | -0.29B |
| 2023-12-31 | $17.86B | 1212 | +23.87% | +26.18% | -2.31% | -0.09B |
| 2023-09-30 | $16.09B | 1223 | +18.95% | +21.57% | -2.62% | -0.42B |
| 2023-06-30 | $16.96B | 1237 | +17.14% | +19.42% | -2.28% | +0.12B |
| 2023-03-31 | $15.80B | 1425 | -5.91% | -7.82% | +1.91% | -0.48B |
| 2022-12-31 | $15.22B | 1419 | -16.07% | -18.17% | +2.10% | -0.21B |
| 2022-09-30 | $14.39B | 1416 | -13.01% | -15.51% | +2.50% | -0.21B |
| 2022-06-30 | $15.24B | 1454 | -8.76% | -10.62% | +1.86% | -0.47B |