Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.83%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.30%
baseline attrition
Rally response
-7.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $438M | 3.1% | +60.9% | 9.3 yr |
| AAPLApple Inc. | $414M | 3.0% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $303M | 2.2% | — | 10.5 yr |
| MSFTMicrosoft Corporation | $236M | 1.7% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $235M | 1.7% | +86.0% | 8.3 yr |
| COSTCostco Wholesale Corpora | $215M | 1.5% | +5.9% | 10.5 yr |
| ANETArista Networks, Inc. | $213M | 1.5% | +58.5% | 1.5 yr |
| STRLSterling Infrastructure, | $202M | 1.5% | +259.7% | 3.0 yr |
| TJXThe TJX Companies, Inc. | $192M | 1.4% | +32.7% | 10.5 yr |
| AMZNAmazon.com, Inc. | $188M | 1.3% | +9.5% | 10.5 yr |
| HWMHowmet Aerospace Inc. | $184M | 1.3% | +78.1% | 2.0 yr |
| ETNEaton Corporation plc | $180M | 1.3% | +33.2% | 9.0 yr |
| METAMeta Platforms, Inc. | $174M | 1.2% | -0.4% | 10.3 yr |
| GEVGE Vernova Inc. | $174M | 1.2% | +186.8% | 0.5 yr |
| VVisa Inc. | $170M | 1.2% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors9.1%+3.7pp$1.27B
Software - Application5.7%-2.6pp$796M
Industrial - Machinery5.2%+0.8pp$732M
Engineering & Construction4.8%+2.9pp$675M
Aerospace & Defense4.8%+1.6pp$665M
Software - Infrastructure4.5%-2.1pp$623M
Medical - Devices4.5%-2.4pp$622M
Internet Content & Information3.6%+0.7pp$498M
Specialty Retail3.3%-0.6pp$455M
Biotechnology3.1%+0.4pp$436M
Country
US92.8%-1.0pp
IE1.7%+0.2pp
GB1.7%+0.9pp
CA1.2%-0.1pp
NL0.8%+0.7pp
IL0.7%-0.5pp
Unknown0.7%+0.7pp
CH0.2%-0.6pp
Top 5: 11.7% · Top 10: 18.9% · Top 25: 35.6%
Top buys this quarter · 15
| HLT Hilton Worldwide Holdings Inc.new | +$107M |
| ASML ASML Holding N.V. | +$92M |
| LLY Eli Lilly and Company | +$83M |
| LIVN LivaNova PLCnew | +$81M |
| IBKR Interactive Brokers Group, Inc | +$58M |
| IMAX IMAX Corporationnew | +$57M |
| MDB MongoDB, Inc. | +$49M |
| FROG JFrog Ltd.new | +$48M |
| Q Qnity Electronics, Inc.new | +$39M |
| TKO TKO Group Holdings, Inc. | +$36M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $13.95B | 417 | +12.31% | +17.59% | -5.28% | +0.17B |
| 2025-12-31 | $14.21B | 381 | +8.75% | +17.72% | -8.97% | -0.38B |
| 2025-09-30 | $15.03B | 392 | +12.98% | +17.52% | -4.53% | -0.41B |
| 2025-06-30 | $14.58B | 382 | +12.08% | +14.94% | -2.86% | -0.48B |
| 2025-03-31 | $13.37B | 365 | -1.01% | +8.30% | -9.31% | -0.53B |
| 2024-12-31 | $14.80B | 386 | +14.53% | +24.89% | -10.36% | +0.01B |
| 2024-09-30 | $14.67B | 357 | +26.30% | +36.04% | -9.73% | +0.01B |
| 2024-06-30 | $13.95B | 364 | +15.78% | +24.49% | -8.71% | +0.00B |
| 2024-03-31 | $14.02B | 357 | +24.69% | +29.62% | -4.93% | +0.22B |
| 2023-12-31 | $12.70B | 371 | +24.38% | +26.18% | -1.80% | +0.13B |
| 2023-09-30 | $11.31B | 374 | +20.20% | +21.57% | -1.36% | +0.22B |
| 2023-06-30 | $11.51B | 372 | +20.79% | +19.42% | +1.37% | +0.01B |
| 2023-03-31 | $10.73B | 368 | -5.81% | -7.82% | +2.01% | -0.08B |
| 2022-12-31 | $9.97B | 375 | -17.11% | -18.17% | +1.06% | -0.05B |
| 2022-09-30 | $9.33B | 365 | -14.34% | -15.51% | +1.17% | -0.78B |
| 2022-06-30 | $10.45B | 366 | -10.96% | -10.62% | -0.34% | +0.62B |