Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.75%
baseline attrition
Rally response
-3.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $2.90B | 11.3% | +60.9% | 8.8 yr |
| AAPLApple Inc. | $2.35B | 9.2% | +14.7% | 10.0 yr |
| GOOGAlphabet Inc. | $1.91B | 7.4% | +84.3% | 10.3 yr |
| MSFTMicrosoft Corporation | $1.66B | 6.5% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $1.58B | 6.2% | +86.0% | 3.8 yr |
| AMZNAmazon.com, Inc. | $1.13B | 4.4% | +9.5% | 10.5 yr |
| METAMeta Platforms, Inc. | $995M | 3.9% | -0.4% | 9.5 yr |
| LLYEli Lilly and Company | $697M | 2.7% | +12.2% | 6.3 yr |
| GEGE Aerospace | $677M | 2.6% | +42.5% | 2.3 yr |
| NFLXNetflix, Inc. | $603M | 2.4% | +3.1% | 8.5 yr |
| TSLATesla, Inc. | $542M | 2.1% | +43.4% | 4.8 yr |
| ISRGIntuitive Surgical, Inc. | $535M | 2.1% | -6.9% | 8.5 yr |
| HLTHilton Worldwide Holding | $531M | 2.1% | +33.9% | 7.3 yr |
| PLTRPalantir Technologies In | $505M | 2.0% | +73.3% | 1.3 yr |
| SNOWSnowflake Inc. | $487M | 1.9% | +3.2% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors24.2%+10.0pp$6.19B
Internet Content & Information12.5%-0.9pp$3.20B
Consumer Electronics9.2%+3.2pp$2.35B
Software - Infrastructure8.7%-3.3pp$2.24B
Software - Application5.6%-2.0pp$1.44B
Specialty Retail5.5%-3.5pp$1.40B
Aerospace & Defense4.0%+0.1pp$1.02B
Financial - Credit Services3.2%-2.1pp$828M
Drug Manufacturers - General2.7%-1.0pp$697M
Medical - Devices2.7%-2.1pp$680M
Country
US94.2%-1.2pp
NL1.8%
CA1.4%+0.5pp
IE1.3%+0.1pp
LU1.2%-1.3pp
AU0.2%
UY0.0%
GB0.0%-0.0pp
Top 5: 40.6% · Top 10: 56.5% · Top 25: 82.0%
Top buys this quarter · 15
| ASML ASML Holding N.V. | +$463M |
| ELAN Elanco Animal Health Incorporanew | +$326M |
| TT Trane Technologies plc | +$319M |
| GE GE Aerospace | +$312M |
| PLTR Palantir Technologies Inc. | +$290M |
| ORLY O'Reilly Automotive, Inc. | +$271M |
| CHRW C.H. Robinson Worldwide, Inc.new | +$263M |
| AAPL Apple Inc. | +$249M |
| AMD Advanced Micro Devices, Inc. | +$216M |
| VRT Vertiv Holdings Co | +$216M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$683M |
| AMZN Amazon.com, Inc. | −$553M |
| VRTX Vertex Pharmaceuticals Incorpoexit | −$396M |
| DASH DoorDash, Inc.exit | −$352M |
| CDNS Cadence Design Systems, Inc.exit | −$320M |
| CTAS Cintas Corporationexit | −$308M |
| APH Amphenol Corporation | −$300M |
| SYK Stryker Corporation | −$282M |
| NOW ServiceNow, Inc. | −$239M |
| SPOT Spotify Technology S.A. | −$238M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $25.65B | 60 | +15.63% | +17.59% | -1.96% | -0.91B |
| 2025-12-31 | $29.80B | 62 | +19.97% | +17.72% | +2.26% | -0.81B |
| 2025-09-30 | $30.27B | 60 | +24.58% | +17.52% | +7.06% | -1.37B |
| 2025-06-30 | $29.94B | 63 | +21.72% | +14.94% | +6.78% | -0.50B |
| 2025-03-31 | $25.07B | 65 | +5.17% | +8.30% | -3.13% | -0.96B |
| 2024-12-31 | $28.15B | 68 | +24.70% | +24.89% | -0.19% | -1.07B |
| 2024-09-30 | $27.83B | 61 | +41.22% | +36.04% | +5.19% | -0.80B |
| 2024-06-30 | $27.72B | 55 | +31.39% | +24.49% | +6.90% | -0.13B |
| 2024-03-31 | $26.55B | 57 | +39.14% | +29.62% | +9.52% | +0.12B |
| 2023-12-31 | $24.10B | 59 | +36.85% | +26.18% | +10.68% | -0.89B |
| 2023-09-30 | $21.02B | 54 | +24.63% | +21.57% | +3.07% | -0.33B |
| 2023-06-30 | $22.22B | 56 | +22.36% | +19.42% | +2.94% | +0.45B |
| 2023-03-31 | $19.60B | 55 | -9.62% | -7.82% | -1.80% | +0.22B |
| 2022-12-31 | $17.97B | 52 | +8.29% | +7.56% | +0.73% | -0.54B |
| 2022-09-30 | $17.09B | 56 | -5.67% | -4.93% | -0.75% | -0.56B |
| 2022-06-30 | $18.71B | 60 | -17.94% | -16.11% | -1.83% | -0.21B |