Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.36%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.51%
baseline attrition
Rally response
-15.18%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $554M | 6.4% | +60.9% | 8.0 yr |
| AMZNAmazon.com, Inc. | $483M | 5.6% | +9.5% | 7.3 yr |
| TSMTaiwan Semiconductor Man | $418M | 4.9% | +105.6% | 7.0 yr |
| ASMLASML Holding N.V. | $341M | 4.0% | +100.9% | 3.5 yr |
| NUNu Holdings Ltd. | $323M | 3.8% | +40.3% | 3.3 yr |
| AMATApplied Materials, Inc. | $297M | 3.5% | +137.6% | 6.8 yr |
| MSFTMicrosoft Corporation | $269M | 3.1% | -0.6% | 9.3 yr |
| RTXRTX Corporation | $263M | 3.1% | +48.1% | 1.8 yr |
| BSXBoston Scientific Corpor | $263M | 3.1% | -37.8% | 2.8 yr |
| AGXArgan, Inc. | $253M | 2.9% | +318.5% | 0.5 yr |
| GOOGAlphabet Inc. | $250M | 2.9% | +84.3% | 8.0 yr |
| TECHBio-Techne Corporation | $248M | 2.9% | -10.4% | 2.5 yr |
| VVisa Inc. | $244M | 2.8% | -13.1% | 8.0 yr |
| NTRANatera, Inc. | $234M | 2.7% | +41.4% | 2.3 yr |
| COFCapital One Financial Co | $228M | 2.6% | +3.1% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors23.4%+10.1pp$2.01B
Specialty Retail8.6%-1.7pp$738M
Biotechnology7.5%+1.2pp$648M
Financial - Credit Services5.5%+2.7pp$472M
Medical - Devices5.2%+5.2pp$448M
Medical - Diagnostics & Research4.6%-2.3pp$394M
Chemicals - Specialty4.0%+3.9pp$341M
Banks - Diversified3.8%-2.1pp$327M
Engineering & Construction3.7%$321M
Beverages - Non-Alcoholic3.3%+0.2pp$286M
Country
US77.8%-1.7pp
TW4.9%+0.5pp
NL4.1%
GB3.9%+1.3pp
BR3.8%+0.6pp
CA2.1%-3.6pp
Unknown1.0%-0.4pp
DK0.9%
Top 5: 24.6% · Top 10: 40.3% · Top 25: 75.6%
Top buys this quarter · 15
| LIN Linde plc | +$211M |
| INFQ Infleqtion, Inc.new | +$196M |
| RGEN Repligen Corporation | +$179M |
| ABT Abbott Laboratories | +$178M |
| NU Nu Holdings Ltd. | +$154M |
| INTC Intel Corporation | +$131M |
| MCD McDonald's Corporation | +$88M |
| MOH Molina Healthcare, Inc. | +$85M |
| BSX Boston Scientific Corporation | +$263M |
| NVO Novo Nordisk A/S | +$76M |
Top sells this quarter · 15
| UNP Union Pacific Corporationexit | −$319M |
| PM Philip Morris International In | −$266M |
| KVUE Kenvue Inc. | −$206M |
| AAOI Applied Optoelectronics, Inc. | −$161M |
| MSFT Microsoft Corporation | −$157M |
| TSM Taiwan Semiconductor Manufactu | −$142M |
| LRCX Lam Research Corporationexit | −$135M |
| BTU Peabody Energy Corporationexit | −$134M |
| SCHW The Charles Schwab Corporationexit | −$118M |
| COHR Coherent, Inc. | −$117M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.60B | 239 | +28.65% | +17.59% | +11.06% | -0.28B |
| 2025-12-31 | $9.31B | 177 | +25.21% | +17.72% | +7.49% | +1.62B |
| 2025-09-30 | $7.38B | 199 | +26.78% | +17.52% | +9.26% | +0.27B |
| 2025-06-30 | $6.43B | 248 | +25.67% | +14.94% | +10.73% | -0.03B |
| 2025-03-31 | $5.52B | 231 | +10.00% | +8.30% | +1.70% | +0.37B |
| 2024-12-31 | $5.55B | 224 | +31.63% | +24.89% | +6.74% | +0.14B |
| 2024-09-30 | $5.13B | 229 | +33.40% | +36.04% | -2.63% | -0.65B |
| 2024-06-30 | $5.27B | 267 | +19.18% | +24.49% | -5.31% | -0.02B |
| 2024-03-31 | $5.16B | 403 | +23.10% | +29.62% | -6.52% | -0.22B |
| 2023-12-31 | $4.85B | 344 | +20.27% | +26.18% | -5.90% | +0.27B |
| 2023-09-30 | $4.28B | 298 | +7.51% | +21.57% | -14.05% | -0.31B |
| 2023-06-30 | $4.69B | 390 | -1.48% | +19.42% | -20.91% | +0.57B |
| 2023-03-31 | $3.89B | 446 | -29.47% | -7.82% | -21.65% | -0.57B |
| 2022-12-31 | $4.11B | 375 | -4.37% | +7.56% | -11.93% | -0.13B |
| 2022-09-30 | $4.43B | 342 | -10.33% | -4.93% | -5.40% | +0.85B |
| 2022-06-30 | $3.99B | 210 | -24.20% | -16.11% | -8.09% | -0.24B |