Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.04%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.69%
baseline attrition
Rally response
-5.12%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $206M | 4.0% | +84.3% | 9.5 yr |
| NVDANVIDIA Corporation | $202M | 4.0% | +60.9% | 5.3 yr |
| AMZNAmazon.com, Inc. | $182M | 3.6% | +9.5% | 9.3 yr |
| AAPLApple Inc. | $168M | 3.3% | +14.7% | 10.3 yr |
| MSFTMicrosoft Corporation | $167M | 3.3% | -0.6% | 10.5 yr |
| ORLYO'Reilly Automotive, Inc | $89M | 1.7% | -3.4% | 10.5 yr |
| TJXThe TJX Companies, Inc. | $86M | 1.7% | +32.7% | 8.5 yr |
| COSTCostco Wholesale Corpora | $84M | 1.7% | +5.9% | 6.3 yr |
| WCNWaste Connections, Inc. | $83M | 1.6% | -16.2% | 2.0 yr |
| AVGOBroadcom Inc. | $82M | 1.6% | +86.0% | 5.5 yr |
| AZNAstraZeneca PLC | $81M | 1.6% | +36.2% | 0.3 yr |
| HDThe Home Depot, Inc. | $79M | 1.5% | -8.0% | 9.5 yr |
| TMOThermo Fisher Scientific | $79M | 1.5% | -0.9% | 10.5 yr |
| NFLXNetflix, Inc. | $77M | 1.5% | +3.1% | 1.3 yr |
| JPMJPMorgan Chase & Co. | $73M | 1.4% | +21.8% | 7.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.3%+4.9pp$575M
Software - Application7.5%-2.9pp$382M
Software - Infrastructure7.1%-1.6pp$360M
Industrial - Machinery6.1%+3.0pp$310M
Specialty Retail6.0%+0.8pp$304M
Internet Content & Information5.4%+2.4pp$274M
Drug Manufacturers - General4.9%+1.0pp$250M
Medical - Devices3.4%-0.2pp$173M
Consumer Electronics3.3%+1.0pp$168M
Restaurants3.0%-0.6pp$152M
Country
US88.2%-0.3pp
IE4.2%+1.2pp
GB1.8%+1.5pp
CA1.8%+0.4pp
FR1.4%+0.2pp
Unknown1.2%-1.3pp
CH1.2%+0.0pp
IT0.2%-0.1pp
Top 5: 18.2% · Top 10: 26.4% · Top 25: 47.3%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$81M |
| AVGO Broadcom Inc. | +$75M |
| PANW Palo Alto Networks, Inc. | +$19M |
| NFLX Netflix, Inc. | +$19M |
| CDNS Cadence Design Systems, Inc. | +$16M |
| CRL Charles River Laboratories Int | +$12M |
| DDOG Datadog, Inc.new | +$11M |
| ROP Roper Technologies, Inc. | +$10M |
| WCN Waste Connections, Inc. | +$10M |
| ETN Eaton Corporation plc | +$9M |
Top sells this quarter · 15
| CARR Carrier Global Corporationexit | −$52M |
| HON Honeywell International Inc. | −$47M |
| ACN Accenture plc | −$42M |
| ADBE Adobe Inc. | −$24M |
| TTD The Trade Desk, Inc.exit | −$23M |
| KO The Coca-Cola Company | −$23M |
| GOOG Alphabet Inc. | −$23M |
| TEAM Atlassian Corporationexit | −$21M |
| TJX The TJX Companies, Inc. | −$19M |
| LRCX Lam Research Corporation | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.10B | 203 | +2.98% | +17.59% | -14.62% | -0.16B |
| 2025-12-31 | $5.71B | 205 | +6.69% | +17.72% | -11.02% | -0.22B |
| 2025-09-30 | $5.89B | 215 | +6.15% | +17.52% | -11.36% | -0.19B |
| 2025-06-30 | $5.97B | 216 | +8.54% | +14.94% | -6.40% | -0.33B |
| 2025-03-31 | $5.77B | 213 | -1.80% | +8.30% | -10.10% | -0.11B |
| 2024-12-31 | $6.17B | 213 | +11.57% | +24.89% | -13.32% | +0.02B |
| 2024-09-30 | $6.14B | 215 | +26.08% | +36.04% | -9.96% | -0.11B |
| 2024-06-30 | $6.01B | 215 | +17.24% | +24.49% | -7.26% | +0.04B |
| 2024-03-31 | $6.05B | 217 | +28.89% | +29.62% | -0.73% | -0.07B |
| 2023-12-31 | $5.65B | 212 | +27.60% | +26.18% | +1.43% | -0.00B |
| 2023-09-30 | $4.99B | 213 | +22.08% | +21.57% | +0.51% | -0.06B |
| 2023-06-30 | $5.22B | 216 | +21.17% | +19.42% | +1.75% | -0.12B |
| 2023-03-31 | $4.92B | 218 | -3.91% | -7.82% | +3.90% | -0.09B |
| 2022-12-31 | $4.67B | 217 | +8.30% | +7.56% | +0.74% | -0.05B |
| 2022-09-30 | $4.36B | 222 | -3.88% | -4.93% | +1.05% | -0.03B |
| 2022-06-30 | $4.57B | 224 | -13.94% | -16.11% | +2.17% | -0.25B |