Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.17%
baseline attrition
Rally response
-1.73%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $866M | 6.6% | +60.9% | 10.5 yr |
| AAPLApple Inc. | $768M | 5.9% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $570M | 4.4% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $404M | 3.1% | +9.5% | 10.5 yr |
| GOOGLAlphabet Inc. | $336M | 2.6% | — | 10.5 yr |
| AVGOBroadcom Inc. | $302M | 2.3% | +86.0% | 8.0 yr |
| GOOGAlphabet Inc. | $270M | 2.1% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $255M | 2.0% | -0.4% | 10.5 yr |
| TSLATesla, Inc. | $217M | 1.7% | +43.4% | 10.5 yr |
| BRK-BBerkshire Hathaway Inc. | $162M | 1.2% | — | 10.5 yr |
| LLYEli Lilly and Company | $154M | 1.2% | +12.2% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $144M | 1.1% | +21.8% | 10.5 yr |
| XOMExxon Mobil Corporation | $134M | 1.0% | +47.6% | 10.5 yr |
| JNJJohnson & Johnson | $109M | 0.8% | +51.5% | 10.5 yr |
| VVisa Inc. | $107M | 0.8% | -13.1% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.0%+4.3pp$1.71B
Internet Content & Information6.8%+1.1pp$889M
Software - Infrastructure6.4%-0.5pp$837M
Consumer Electronics5.9%-0.2pp$776M
Drug Manufacturers - General4.1%+0.0pp$540M
Specialty Retail3.8%-0.3pp$502M
Banks - Diversified2.4%-0.0pp$317M
Aerospace & Defense2.4%+0.5pp$312M
Software - Application2.1%-0.9pp$279M
Financial - Credit Services2.1%-0.7pp$276M
Country
US96.8%-0.1pp
IE1.2%-0.1pp
GB0.7%+0.1pp
Unknown0.4%+0.1pp
CH0.2%-0.0pp
BM0.2%-0.0pp
SG0.2%+0.1pp
KY0.1%+0.0pp
Top 5: 22.5% · Top 10: 31.8% · Top 25: 42.8%
Top buys this quarter · 15
| VRT Vertiv Holdings Co | +$12M |
| MCK McKesson Corporation | +$5M |
| CVS CVS Health Corporation | +$4M |
| AHR American Healthcare REIT, Inc. | +$3M |
| PANW Palo Alto Networks, Inc. | +$27M |
| MU Micron Technology, Inc. | +$3M |
| BROS Dutch Bros Inc. | +$3M |
| SARO StandardAero, Inc. | +$2M |
| WAT Waters Corporation | +$2M |
| AGX Argan, Inc. | +$2M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$20M |
| NVDA NVIDIA Corporation | −$20M |
| CIEN Ciena Corporation | −$14M |
| LITE Lumentum Holdings Inc. | −$13M |
| META Meta Platforms, Inc. | −$12M |
| MSFT Microsoft Corporation | −$10M |
| AMZN Amazon.com, Inc. | −$9M |
| COHR Coherent, Inc. | −$9M |
| TSLA Tesla, Inc. | −$7M |
| PNFP Pinnacle Financial Partners, Iexit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $13.07B | 1618 | +17.73% | +17.59% | +0.14% | -0.25B |
| 2025-12-31 | $13.86B | 2971 | +16.10% | +17.72% | -1.62% | -0.43B |
| 2025-09-30 | $14.00B | 2989 | +16.23% | +17.52% | -1.29% | +0.01B |
| 2025-06-30 | $12.95B | 3008 | +14.51% | +14.94% | -0.43% | -0.03B |
| 2025-03-31 | $11.69B | 2947 | +4.35% | +8.30% | -3.96% | +0.14B |
| 2024-12-31 | $12.18B | 2973 | +18.78% | +24.89% | -6.10% | -0.23B |
| 2024-09-30 | $12.14B | 2987 | +30.11% | +36.04% | -5.93% | -0.35B |
| 2024-06-30 | $11.74B | 3002 | +17.46% | +24.49% | -7.03% | -0.10B |
| 2024-03-31 | $11.69B | 2954 | +24.49% | +29.62% | -5.13% | -1.83B |
| 2023-12-31 | $12.53B | 2991 | +22.89% | +26.18% | -3.29% | -0.61B |
| 2023-09-30 | $11.74B | 3010 | +17.39% | +21.57% | -4.17% | -0.12B |
| 2023-06-30 | $12.36B | 3025 | +17.04% | +19.42% | -2.39% | -0.23B |
| 2023-03-31 | $11.73B | 2945 | -7.34% | -7.82% | +0.48% | -0.21B |
| 2022-12-31 | $11.21B | 2973 | +6.95% | +7.56% | -0.62% | +0.13B |
| 2022-09-30 | $10.36B | 2997 | -4.26% | -4.93% | +0.67% | +0.09B |
| 2022-06-30 | $10.73B | 3021 | -15.05% | -16.11% | +1.06% | -0.21B |