Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.71%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.38%
baseline attrition
Rally response
-12.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $1.45B | 6.1% | +60.9% | 7.8 yr |
| AAPLApple Inc. | $1.15B | 4.9% | +14.7% | 10.5 yr |
| GOOGAlphabet Inc. | $986M | 4.1% | +84.3% | 10.5 yr |
| MSFTMicrosoft Corporation | $599M | 2.5% | -0.6% | 10.5 yr |
| BKNGBooking Holdings Inc. | $345M | 1.5% | -96.3% | 6.3 yr |
| QCOMQUALCOMM Incorporated | $288M | 1.2% | -14.2% | 8.3 yr |
| NOWServiceNow, Inc. | $288M | 1.2% | -34.3% | 7.0 yr |
| TGTTarget Corporation | $286M | 1.2% | +21.5% | 6.0 yr |
| AMZNAmazon.com, Inc. | $278M | 1.2% | +9.5% | 10.5 yr |
| IBKRInteractive Brokers Grou | $264M | 1.1% | +62.8% | 7.0 yr |
| GMGeneral Motors Company | $254M | 1.1% | +60.0% | 10.3 yr |
| FTNTFortinet, Inc. | $249M | 1.0% | -15.1% | 10.3 yr |
| LMTLockheed Martin Corporat | $249M | 1.0% | +39.0% | 9.8 yr |
| BKThe Bank of New York Mel | $237M | 1.0% | +44.4% | 10.5 yr |
| EWEdwards Lifesciences Cor | $235M | 1.0% | +10.5% | 7.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.0%+4.5pp$2.62B
Software - Infrastructure7.2%-1.1pp$1.70B
Internet Content & Information6.4%+1.1pp$1.51B
Software - Application5.4%+0.9pp$1.28B
Consumer Electronics5.1%-1.1pp$1.21B
Specialty Retail4.1%-0.1pp$972M
Biotechnology3.3%+0.6pp$791M
Engineering & Construction2.8%+0.9pp$656M
Medical - Devices2.1%-0.1pp$488M
Financial - Credit Services1.9%-1.2pp$445M
Country
US95.3%-0.1pp
Unknown1.0%+0.7pp
BR0.7%+0.7pp
KR0.6%+0.2pp
LU0.5%-0.5pp
BM0.5%+0.1pp
SG0.3%+0.3pp
AU0.3%-0.2pp
Top 5: 19.1% · Top 10: 25.0% · Top 25: 38.7%
Top buys this quarter · 15
| GOOG Alphabet Inc. | +$267M |
| MU Micron Technology, Inc. | +$184M |
| TXN Texas Instruments Incorporated | +$157M |
| LVS Las Vegas Sands Corp. | +$129M |
| SF Stifel Financial Corp. | +$97M |
| ALB Albemarle Corporation | +$95M |
| DKNG DraftKings Inc. | +$86M |
| JBL Jabil Inc. | +$84M |
| DOCU DocuSign, Inc. | +$76M |
| EBAY eBay Inc. | +$73M |
Top sells this quarter · 15
| LRCX Lam Research Corporation | −$271M |
| ORLY O'Reilly Automotive, Inc. | −$237M |
| FIX Comfort Systems USA, Inc. | −$237M |
| ANET Arista Networks, Inc. | −$220M |
| MTZ MasTec, Inc. | −$192M |
| META Meta Platforms, Inc. | −$182M |
| NFLX Netflix, Inc. | −$141M |
| GEV GE Vernova Inc. | −$118M |
| AZO AutoZone, Inc. | −$93M |
| BBIO BridgeBio Pharma, Inc. | −$91M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $23.79B | 952 | +15.12% | +17.59% | -2.47% | -0.91B |
| 2025-12-31 | $25.90B | 916 | +13.85% | +17.72% | -3.87% | +0.16B |
| 2025-09-30 | $25.17B | 952 | +16.01% | +17.52% | -1.51% | -2.30B |
| 2025-06-30 | $25.50B | 1018 | +14.89% | +14.94% | -0.05% | -2.11B |
| 2025-03-31 | $25.20B | 1057 | +4.10% | +8.30% | -4.20% | -1.45B |
| 2024-12-31 | $28.26B | 924 | +20.14% | +24.89% | -4.75% | +1.24B |
| 2024-09-30 | $25.93B | 939 | +30.32% | +36.04% | -5.72% | +0.13B |
| 2024-06-30 | $24.18B | 944 | +18.90% | +24.49% | -5.60% | +1.96B |
| 2024-03-31 | $22.37B | 927 | +26.85% | +29.62% | -2.77% | +0.77B |
| 2023-12-31 | $19.85B | 962 | +23.39% | +26.18% | -2.79% | +0.76B |
| 2023-09-30 | $16.88B | 952 | +15.03% | +21.57% | -6.53% | -0.00B |
| 2023-06-30 | $17.35B | 956 | +13.93% | +19.42% | -5.49% | +0.07B |
| 2023-03-31 | $16.31B | 943 | -4.52% | -7.82% | +3.30% | +0.66B |
| 2022-12-31 | $14.78B | 934 | +5.39% | +7.56% | -2.17% | +1.45B |
| 2022-09-30 | $12.65B | 970 | -3.61% | -4.93% | +1.32% | +0.20B |
| 2022-06-30 | $12.91B | 979 | -11.23% | -16.11% | +4.88% | -0.24B |