Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.64%
baseline attrition
Rally response
-1.35%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $44M | 4.9% | +14.7% | 9.3 yr |
| MSFTMicrosoft Corporation | $29M | 3.3% | -0.6% | 9.3 yr |
| ASMLASML Holding N.V. | $27M | 3.0% | +100.9% | 8.3 yr |
| TJXThe TJX Companies, Inc. | $22M | 2.5% | +32.7% | 9.3 yr |
| JPMJPMorgan Chase & Co. | $19M | 2.1% | +21.8% | 9.3 yr |
| OLEDUniversal Display Corpor | $19M | 2.1% | -33.3% | 5.0 yr |
| JNJJohnson & Johnson | $19M | 2.1% | +51.5% | 9.3 yr |
| GOOGLAlphabet Inc. | $18M | 2.0% | — | 9.3 yr |
| WMTWalmart Inc. | $18M | 2.0% | +42.8% | 9.3 yr |
| WFCWells Fargo & Company | $17M | 1.9% | +13.3% | 9.3 yr |
| ABBVAbbVie Inc. | $17M | 1.9% | +7.3% | 4.8 yr |
| BACBank of America Corporat | $17M | 1.9% | +19.4% | 9.3 yr |
| AMZNAmazon.com, Inc. | $16M | 1.8% | +9.5% | 9.3 yr |
| CVXChevron Corporation | $16M | 1.8% | +29.2% | 9.3 yr |
| NVDANVIDIA Corporation | $16M | 1.8% | +60.9% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors7.5%+2.9pp$67M
Drug Manufacturers - General6.9%+0.3pp$61M
Banks - Diversified6.7%+0.6pp$59M
Asset Management5.3%+0.7pp$47M
Consumer Electronics4.9%+0.1pp$44M
Software - Infrastructure4.2%-0.6pp$37M
Oil & Gas Integrated3.8%+0.6pp$34M
Discount Stores3.8%+0.3pp$34M
Internet Content & Information3.8%+1.6pp$33M
Financial - Credit Services3.5%-0.5pp$31M
Country
US92.7%-1.3pp
NL3.0%+1.3pp
IE1.3%+0.1pp
CA1.0%+0.2pp
GB0.7%-0.1pp
CH0.4%+0.0pp
UY0.3%-0.2pp
Unknown0.2%-0.1pp
Top 5: 15.8% · Top 10: 25.9% · Top 25: 50.4%
Top buys this quarter · 15
| AVGO Broadcom Inc. | +$3M |
| NVDA NVIDIA Corporation | +$2M |
| ACN Accenture plc | +$9M |
| QXO QXO, Inc.new | +$2M |
| HON Honeywell International Inc. | +$2M |
| DIS The Walt Disney Company | +$9M |
| CVX Chevron Corporation | +$1M |
| ASTS AST SpaceMobile, Inc. | +$1M |
| DHR Danaher Corporation | +$11M |
| INFQ Infleqtion, Inc.new | +$1M |
Top sells this quarter · 15
| AEP American Electric Power Compan | −$5M |
| VRSK Verisk Analytics, Inc.exit | −$3M |
| RPM RPM International Inc. | −$3M |
| ASML ASML Holding N.V. | −$23M |
| BX Blackstone Inc. | −$2M |
| EQIX Equinix, Inc.exit | −$2M |
| TJX The TJX Companies, Inc. | −$2M |
| GS The Goldman Sachs Group, Inc. | −$1M |
| RTX RTX Corporation | −$1M |
| TGT Target Corporation | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $887M | 228 | +13.48% | +17.59% | -4.11% | -0.02B |
| 2025-12-31 | $924M | 234 | +12.72% | +17.72% | -5.00% | +0.02B |
| 2025-09-30 | $890M | 224 | +8.36% | +17.52% | -9.16% | -0.01B |
| 2025-06-30 | $847M | 207 | +7.87% | +14.94% | -7.07% | -0.03B |
| 2025-03-31 | $817M | 199 | +4.06% | +8.30% | -4.24% | -0.01B |
| 2024-12-31 | $851M | 212 | +12.27% | +24.89% | -12.62% | -0.02B |
| 2024-09-30 | $894M | 211 | +30.58% | +36.04% | -5.45% | -0.02B |
| 2024-06-30 | $863M | 213 | +20.16% | +24.49% | -4.33% | -0.01B |
| 2024-03-31 | $838M | 217 | +20.14% | +29.62% | -9.49% | +0.01B |
| 2023-12-31 | $789M | 205 | +22.86% | +26.18% | -3.31% | -0.01B |
| 2023-09-30 | $704M | 196 | +21.15% | +21.57% | -0.42% | -0.02B |
| 2023-06-30 | $739M | 209 | +19.17% | +19.42% | -0.25% | -0.00B |
| 2023-03-31 | $716M | 210 | -5.48% | -7.82% | +2.34% | +0.00B |
| 2022-12-31 | $663M | 205 | +11.47% | +7.56% | +3.91% | -0.01B |
| 2022-09-30 | $602M | 206 | -4.27% | -4.93% | +0.66% | +0.00B |
| 2022-06-30 | $627M | 210 | -17.79% | -16.11% | -1.68% | -0.01B |