Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.22%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.01%
baseline attrition
Rally response
-1.94%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $3.52B | 9.0% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $2.85B | 7.3% | -0.6% | 10.5 yr |
| GOOGAlphabet Inc. | $2.23B | 5.7% | +84.3% | 10.5 yr |
| PMPhilip Morris Internatio | $1.78B | 4.6% | +7.9% | 10.5 yr |
| NVDANVIDIA Corporation | $1.71B | 4.4% | +60.9% | 4.8 yr |
| AMZNAmazon.com, Inc. | $1.68B | 4.3% | +9.5% | 10.5 yr |
| XOMExxon Mobil Corporation | $1.36B | 3.5% | +47.6% | 10.5 yr |
| CVXChevron Corporation | $1.28B | 3.3% | +29.2% | 10.5 yr |
| METAMeta Platforms, Inc. | $1.22B | 3.1% | -0.4% | 10.5 yr |
| KOThe Coca-Cola Company | $1.15B | 2.9% | +9.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $920M | 2.4% | +21.8% | 10.5 yr |
| VVisa Inc. | $903M | 2.3% | -13.1% | 10.5 yr |
| ASMLASML Holding N.V. | $878M | 2.2% | +100.9% | 10.3 yr |
| TSMTaiwan Semiconductor Man | $861M | 2.2% | +105.6% | 6.0 yr |
| MCDMcDonald's Corporation | $840M | 2.2% | +1.8% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors10.7%+4.7pp$4.17B
Internet Content & Information9.2%+3.7pp$3.58B
Consumer Electronics9.0%-0.3pp$3.52B
Software - Infrastructure7.3%-0.2pp$2.87B
Oil & Gas Integrated6.9%+1.3pp$2.69B
Tobacco5.3%+0.5pp$2.07B
Specialty Retail4.3%+0.4pp$1.69B
Asset Management4.3%+0.4pp$1.66B
Financial - Credit Services4.0%-0.5pp$1.57B
Drug Manufacturers - General3.6%-0.0pp$1.41B
Country
US91.0%-0.8pp
NL2.2%+1.1pp
TW2.2%+1.4pp
IE1.4%+0.5pp
Unknown0.9%-0.6pp
CH0.9%-0.0pp
GB0.7%-0.1pp
DK0.3%-1.6pp
Top 5: 31.0% · Top 10: 48.1% · Top 25: 74.2%
Top buys this quarter · 15
| BX Blackstone Inc. | +$167M |
| NVDA NVIDIA Corporation | +$140M |
| META Meta Platforms, Inc. | +$1.22B |
| SPOT Spotify Technology S.A. | +$38M |
| ABBV AbbVie Inc. | +$37M |
| ETN Eaton Corporation plc | +$31M |
| TSM Taiwan Semiconductor Manufactu | +$26M |
| ISRG Intuitive Surgical, Inc. | +$559M |
| UNH UnitedHealth Group Incorporate | +$434M |
| BLK BlackRock, Inc. | +$612M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$132M |
| BR Broadridge Financial Solutions | −$85M |
| CSGP CoStar Group, Inc. | −$75M |
| ODFL Old Dominion Freight Line, Inc | −$51M |
| ZTS Zoetis Inc. | −$47M |
| SPY State Street SPDR S&P 500 ETF | −$46M |
| XOM Exxon Mobil Corporation | −$993M |
| KO The Coca-Cola Company | −$1.09B |
| NVO Novo Nordisk A/S | −$31M |
| TXN Texas Instruments Incorporated | −$628M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $39.08B | 294 | +8.15% | +17.59% | -9.44% | -0.88B |
| 2025-12-31 | $41.66B | 297 | +11.68% | +17.72% | -6.04% | -2.24B |
| 2025-09-30 | $43.12B | 305 | +9.13% | +17.52% | -8.39% | -0.28B |
| 2025-06-30 | $41.67B | 308 | +9.70% | +14.94% | -5.24% | -1.09B |
| 2025-03-31 | $40.21B | 310 | +7.26% | +8.30% | -1.05% | -0.54B |
| 2024-12-31 | $41.15B | 312 | +16.27% | +24.89% | -8.62% | +2.01B |
| 2024-09-30 | $39.34B | 285 | +27.69% | +36.04% | -8.35% | +0.54B |
| 2024-06-30 | $37.06B | 278 | +17.93% | +24.49% | -6.56% | +2.17B |
| 2024-03-31 | $33.55B | 287 | +21.02% | +29.62% | -8.60% | -1.58B |
| 2023-12-31 | $32.72B | 289 | +19.20% | +26.18% | -6.98% | +0.34B |
| 2023-09-30 | $29.64B | 284 | +21.23% | +21.57% | -0.34% | +2.03B |
| 2023-06-30 | $28.55B | 278 | +18.26% | +19.42% | -1.17% | -1.93B |
| 2023-03-31 | $28.57B | 281 | -2.83% | -7.82% | +4.99% | -0.05B |
| 2022-12-31 | $27.07B | 281 | -12.36% | -18.17% | +5.82% | -1.06B |
| 2022-09-30 | $25.31B | 278 | -12.41% | -15.51% | +3.10% | -0.51B |
| 2022-06-30 | $27.38B | 289 | -6.59% | -10.62% | +4.03% | -0.33B |