Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.56%
baseline attrition
Rally response
-25.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $728M | 4.1% | +17.6% | 8.8 yr |
| EAElectronic Arts Inc. | $276M | 1.5% | +41.7% | 8.0 yr |
| MSFTMicrosoft Corporation | $250M | 1.4% | -0.6% | 9.3 yr |
| TSLATesla, Inc. | $217M | 1.2% | +43.4% | 7.5 yr |
| WBSWebster Financial Corpor | $214M | 1.2% | +38.5% | 4.5 yr |
| AAPLApple Inc. | $203M | 1.1% | +14.7% | 9.3 yr |
| WBDWarner Bros. Discovery, | $194M | 1.1% | +155.9% | 3.8 yr |
| KVUEKenvue Inc. | $192M | 1.1% | -25.0% | 2.8 yr |
| AMZNAmazon.com, Inc. | $186M | 1.0% | +9.5% | 9.8 yr |
| NSCNorfolk Southern Corpora | $181M | 1.0% | +23.6% | 6.0 yr |
| SEESealed Air Corporation | $179M | 1.0% | +48.7% | 7.8 yr |
| NVDANVIDIA Corporation | $172M | 1.0% | +60.9% | 10.0 yr |
| HOLXHologic, Inc. | $166M | 0.9% | +22.4% | 5.0 yr |
| GOOGLAlphabet Inc. | $162M | 0.9% | — | 9.5 yr |
| TECKTeck Resources Limited | $147M | 0.8% | +43.3% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management13.0%-4.9pp$2.32B
Semiconductors5.8%+1.2pp$1.04B
Banks - Regional3.5%+1.2pp$617M
Software - Application3.2%-0.4pp$570M
Software - Infrastructure2.5%-0.8pp$454M
Specialty Retail2.4%+0.4pp$437M
Aerospace & Defense2.3%-0.4pp$407M
Hardware, Equipment & Parts2.0%+0.8pp$364M
Banks - Diversified2.0%+1.2pp$357M
Biotechnology2.0%-0.1pp$357M
Country
US89.1%-2.7pp
CA2.5%+2.1pp
IE1.6%+1.4pp
Unknown1.2%-0.9pp
BM0.8%-0.5pp
CH0.6%-0.0pp
GB0.6%-0.2pp
TW0.6%+0.2pp
Top 5: 9.4% · Top 10: 14.8% · Top 25: 26.5%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$439M |
| WBS Webster Financial Corporation | +$205M |
| TSLA Tesla, Inc. | +$195M |
| WBD Warner Bros. Discovery, Inc. | +$174M |
| TECK Teck Resources Limited | +$143M |
| PEN Penumbra, Inc. | +$116M |
| TJX The TJX Companies, Inc. | +$110M |
| COF Capital One Financial Corporat | +$98M |
| EA Electronic Arts Inc. | +$95M |
| WFC Wells Fargo & Company | +$92M |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$206M |
| NVDA NVIDIA Corporation | −$200M |
| AMZN Amazon.com, Inc. | −$140M |
| NFLX Netflix, Inc. | −$132M |
| CFLT Confluent, Inc.exit | −$122M |
| LIN Linde plcexit | −$100M |
| MS Morgan Stanley | −$92M |
| CIEN Ciena Corporation | −$72M |
| TMUS T-Mobile US, Inc. | −$66M |
| LVS Las Vegas Sands Corp. | −$64M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $17.85B | 1631 | +22.26% | +17.59% | +4.67% | +0.29B |
| 2025-12-31 | $17.56B | 1543 | +18.91% | +17.72% | +1.19% | +2.29B |
| 2025-09-30 | $14.91B | 1485 | +20.23% | +17.52% | +2.71% | +0.51B |
| 2025-06-30 | $13.22B | 1497 | +18.67% | +14.94% | +3.73% | +0.93B |
| 2025-03-31 | $11.21B | 1469 | +7.68% | +8.30% | -0.62% | +2.07B |
| 2024-12-31 | $9.41B | 1470 | +19.85% | +24.89% | -5.03% | -0.02B |
| 2024-09-30 | $9.11B | 1495 | +29.41% | +36.04% | -6.63% | -0.48B |
| 2024-06-30 | $8.92B | 1452 | +18.22% | +24.49% | -6.27% | +0.79B |
| 2024-03-31 | $8.17B | 1405 | +26.75% | +29.62% | -2.88% | +0.35B |
| 2023-12-31 | $7.23B | 1414 | +25.44% | +26.18% | -0.74% | -0.40B |
| 2023-09-30 | $6.82B | 1441 | +17.68% | +21.57% | -3.89% | +0.81B |
| 2023-06-30 | $6.13B | 1480 | +11.69% | +19.42% | -7.73% | +0.51B |
| 2023-03-31 | $5.27B | 1500 | -13.48% | -7.82% | -5.66% | +0.91B |
| 2022-12-31 | $4.07B | 1490 | +4.84% | +7.56% | -2.72% | -0.20B |
| 2022-09-30 | $4.08B | 1533 | -6.78% | -4.93% | -1.85% | +0.89B |
| 2022-06-30 | $3.41B | 1520 | -17.36% | -16.11% | -1.25% | +0.22B |