Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.60%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.18%
steady accumulation
Rally response
-1.32%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $916M | 9.2% | — | 10.5 yr |
| MAMastercard Incorporated | $688M | 6.9% | -8.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $683M | 6.9% | -0.6% | 10.5 yr |
| AMZNAmazon.com, Inc. | $535M | 5.4% | +9.5% | 10.5 yr |
| SYKStryker Corporation | $390M | 3.9% | -11.1% | 10.5 yr |
| AAPLApple Inc. | $372M | 3.7% | +14.7% | 10.5 yr |
| INTUIntuit Inc. | $356M | 3.6% | -29.3% | 10.5 yr |
| NVDANVIDIA Corporation | $343M | 3.4% | +60.9% | 8.8 yr |
| TJXThe TJX Companies, Inc. | $341M | 3.4% | +32.7% | 10.5 yr |
| DHRDanaher Corporation | $315M | 3.2% | -7.1% | 10.5 yr |
| TMOThermo Fisher Scientific | $264M | 2.6% | -0.9% | 10.5 yr |
| COSTCostco Wholesale Corpora | $238M | 2.4% | +5.9% | 10.5 yr |
| AMTAmerican Tower Corporati | $218M | 2.2% | -17.9% | 10.5 yr |
| PHParker-Hannifin Corporat | $202M | 2.0% | +48.6% | 10.5 yr |
| NXPINXP Semiconductors N.V. | $198M | 2.0% | +5.0% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information11.4%+5.4pp$1.14B
Financial - Credit Services8.8%-0.7pp$875M
Software - Infrastructure8.7%-0.1pp$872M
Semiconductors8.0%+3.6pp$797M
Software - Application6.9%-6.9pp$692M
Medical - Diagnostics & Research6.5%+0.6pp$650M
Specialty Retail6.5%+1.7pp$644M
Medical - Devices5.7%-0.9pp$572M
Consumer Electronics3.7%+0.8pp$372M
Apparel - Retail3.7%+0.7pp$370M
Country
US95.2%-0.8pp
NL2.8%+0.8pp
CA1.5%+0.1pp
IE0.2%-0.1pp
IN0.1%-0.0pp
CH0.1%+0.0pp
Unknown0.0%+0.0pp
DK0.0%-0.0pp
Top 5: 32.2% · Top 10: 49.5% · Top 25: 75.5%
Top buys this quarter · 15
| INTU Intuit Inc. | +$356M |
| LLY Eli Lilly and Company | +$24M |
| NVDA NVIDIA Corporation | +$13M |
| VEEV Veeva Systems Inc. | +$111M |
| SNPS Synopsys, Inc. | +$127M |
| CSL Carlisle Companies Incorporate | +$10M |
| NOW ServiceNow, Inc. | +$140M |
| AMZN Amazon.com, Inc. | +$535M |
| META Meta Platforms, Inc. | +$167M |
| DKS DICK'S Sporting Goods, Inc. | +$5M |
Top sells this quarter · 15
| ADBE Adobe Inc. | −$40M |
| ROP Roper Technologies, Inc. | −$18M |
| AMT American Tower Corporation | −$12M |
| REGN Regeneron Pharmaceuticals, Inc | −$11M |
| PAYC Paycom Software, Inc. | −$11M |
| TJX The TJX Companies, Inc. | −$320M |
| JPM JPMorgan Chase & Co. | −$8M |
| BAC Bank of America Corporation | −$7M |
| TTD The Trade Desk, Inc. | −$6M |
| ALGN Align Technology, Inc. | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $9.97B | 550 | -3.71% | +17.59% | -21.30% | +0.10B |
| 2025-12-31 | $11.03B | 524 | +4.31% | +17.72% | -13.41% | -0.26B |
| 2025-09-30 | $11.39B | 515 | +3.38% | +17.52% | -14.13% | +0.03B |
| 2025-06-30 | $11.31B | 505 | +8.43% | +14.94% | -6.51% | +0.21B |
| 2025-03-31 | $10.27B | 548 | -0.59% | +8.30% | -8.90% | -0.99B |
| 2024-12-31 | $11.63B | 548 | +10.22% | +24.89% | -14.66% | +0.63B |
| 2024-09-30 | $11.20B | 549 | +24.82% | +36.04% | -11.21% | -0.24B |
| 2024-06-30 | $10.85B | 539 | +14.68% | +24.49% | -9.81% | +0.88B |
| 2024-03-31 | $10.06B | 548 | +23.69% | +29.62% | -5.93% | -0.79B |
| 2023-12-31 | $10.09B | 543 | +24.47% | +26.18% | -1.71% | +0.16B |
| 2023-09-30 | $8.93B | 589 | +19.98% | +21.57% | -1.58% | -0.13B |
| 2023-06-30 | $9.36B | 612 | +18.64% | +19.42% | -0.78% | +0.03B |
| 2023-03-31 | $8.73B | 587 | -6.03% | -7.82% | +1.79% | -0.01B |
| 2022-12-31 | $8.08B | 575 | -17.10% | -18.17% | +1.07% | -0.16B |
| 2022-09-30 | $7.69B | 593 | -14.13% | -15.51% | +1.38% | -0.10B |
| 2022-06-30 | $8.14B | 616 | -9.79% | -10.62% | +0.83% | -0.12B |