Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.97%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.19%
baseline attrition
Rally response
-7.35%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HDThe Home Depot, Inc. | $279M | 4.1% | -8.0% | 10.5 yr |
| NVDANVIDIA Corporation | $205M | 3.0% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $174M | 2.6% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $168M | 2.5% | — | 10.5 yr |
| GOOGAlphabet Inc. | $159M | 2.4% | +84.3% | 10.5 yr |
| AAPLApple Inc. | $151M | 2.2% | +14.7% | 10.5 yr |
| IAUiShares Gold Trust | $144M | 2.1% | — | 5.0 yr |
| AMZNAmazon.com, Inc. | $136M | 2.0% | +9.5% | 10.5 yr |
| AMATApplied Materials, Inc. | $115M | 1.7% | +137.6% | 10.5 yr |
| NEENextEra Energy, Inc. | $108M | 1.6% | +34.9% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $95M | 1.4% | — | 10.5 yr |
| CCJCameco Corporation | $86M | 1.3% | +164.4% | 10.5 yr |
| GPCGenuine Parts Company | $82M | 1.2% | -8.3% | 10.5 yr |
| RSGRepublic Services, Inc. | $77M | 1.1% | -8.9% | 10.5 yr |
| NEMNewmont Corporation | $76M | 1.1% | +127.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management9.0%-0.2pp$606M
Semiconductors8.3%+1.5pp$557M
Internet Content & Information5.6%+1.1pp$376M
Home Improvement4.4%-1.2pp$296M
Drug Manufacturers - General4.1%-0.3pp$277M
Software - Infrastructure3.8%-1.2pp$256M
Specialty Retail3.7%+0.7pp$246M
Gold2.4%+0.3pp$164M
Consumer Electronics2.4%-0.6pp$163M
Regulated Electric2.3%+0.5pp$156M
Country
US92.6%+0.7pp
CA3.4%+0.6pp
IE0.8%-0.2pp
GB0.8%-0.5pp
CH0.8%-0.1pp
Unknown0.6%-0.3pp
SG0.3%+0.1pp
FR0.2%+0.2pp
Top 5: 14.6% · Top 10: 24.3% · Top 25: 40.6%
Top buys this quarter · 15
| GPC Genuine Parts Company | +$52M |
| EXE Expand Energy Corporation | +$35M |
| SBUX Starbucks Corporation | +$31M |
| DIS The Walt Disney Company | +$30M |
| NFLX Netflix, Inc. | +$25M |
| BAX Baxter International Inc. | +$17M |
| SLB SLB N.V. | +$16M |
| BSX Boston Scientific Corporation | +$15M |
| IFF International Flavors & Fragra | +$13M |
| SPGI S&P Global Inc. | +$12M |
Top sells this quarter · 15
| CIEN Ciena Corporation | −$77M |
| REGN Regeneron Pharmaceuticals, Inc | −$24M |
| CVX Chevron Corporation | −$23M |
| FDX FedEx Corporation | −$20M |
| GOOG Alphabet Inc. | −$20M |
| OXY Occidental Petroleum Corporati | −$17M |
| FCX Freeport-McMoRan Inc. | −$14M |
| USB U.S. Bancorp | −$14M |
| VRT Vertiv Holdings Co | −$55M |
| MU Micron Technology, Inc. | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.74B | 539 | +22.73% | +17.59% | +5.14% | -0.11B |
| 2025-12-31 | $6.85B | 572 | +18.37% | +17.72% | +0.65% | -0.27B |
| 2025-09-30 | $6.86B | 541 | +14.22% | +17.52% | -3.30% | -0.21B |
| 2025-06-30 | $6.55B | 528 | +11.46% | +14.94% | -3.48% | -0.15B |
| 2025-03-31 | $6.11B | 510 | +2.95% | +8.30% | -5.35% | -0.04B |
| 2024-12-31 | $6.37B | 535 | +16.19% | +24.89% | -8.70% | +0.00B |
| 2024-09-30 | $6.37B | 526 | +29.37% | +36.04% | -6.67% | -0.02B |
| 2024-06-30 | $6.06B | 525 | +18.26% | +24.49% | -6.23% | -0.14B |
| 2024-03-31 | $6.12B | 534 | +24.12% | +29.62% | -5.50% | +0.12B |
| 2023-12-31 | $5.52B | 516 | +18.00% | +26.18% | -8.17% | -0.35B |
| 2023-09-30 | $5.26B | 511 | +16.57% | +21.57% | -5.00% | -0.11B |
| 2023-06-30 | $5.58B | 533 | +16.10% | +19.42% | -3.32% | -0.04B |
| 2023-03-31 | $5.29B | 527 | -6.57% | -7.82% | +1.25% | -0.16B |
| 2022-12-31 | $5.26B | 573 | -13.89% | -18.17% | +4.29% | -0.14B |
| 2022-09-30 | $4.91B | 593 | -13.15% | -15.51% | +2.36% | -0.34B |
| 2022-06-30 | $5.47B | 660 | -8.95% | -10.62% | +1.67% | -0.19B |