Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.24%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.64%
baseline attrition
Rally response
-0.41%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $15.68B | 5.2% | +60.9% | 10.5 yr |
| MSFTMicrosoft Corporation | $12.07B | 4.0% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $11.82B | 3.9% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $8.45B | 2.8% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $6.73B | 2.2% | +9.5% | 10.5 yr |
| METAMeta Platforms, Inc. | $4.96B | 1.6% | -0.4% | 10.5 yr |
| GOOGAlphabet Inc. | $4.70B | 1.6% | +84.3% | 10.5 yr |
| AVGOBroadcom Inc. | $4.58B | 1.5% | +86.0% | 8.0 yr |
| TOTB.DETotalEnergies SE | $3.91B | 1.3% | +41.2% | 0.5 yr |
| JNJJohnson & Johnson | $3.53B | 1.2% | +51.5% | 10.5 yr |
| LLYEli Lilly and Company | $3.26B | 1.1% | +12.2% | 10.5 yr |
| TSLATesla, Inc. | $3.02B | 1.0% | +43.4% | 10.5 yr |
| VVisa Inc. | $2.66B | 0.9% | -13.1% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $2.44B | 0.8% | +21.8% | 10.5 yr |
| AZNAstraZeneca PLC | $2.39B | 0.8% | +36.2% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.1%+3.3pp$33.41B
Internet Content & Information6.5%+0.3pp$19.69B
Software - Infrastructure6.1%-0.8pp$18.35B
Drug Manufacturers - General5.5%+0.5pp$16.74B
Consumer Electronics4.0%-0.3pp$11.97B
Banks - Diversified3.2%+0.0pp$9.81B
Specialty Retail3.0%-0.3pp$9.10B
Regulated Electric2.6%+0.3pp$7.98B
Oil & Gas Integrated2.5%+1.6pp$7.69B
Oil & Gas Midstream2.4%+0.1pp$7.14B
Country
US86.4%-3.1pp
CA4.0%+0.9pp
GB1.7%+0.9pp
IE1.7%-0.4pp
FR1.3%+1.3pp
Unknown1.0%+0.2pp
CH0.8%-0.3pp
DE0.7%+0.2pp
Top 5: 18.1% · Top 10: 25.3% · Top 25: 36.3%
Top buys this quarter · 15
| AZN AstraZeneca PLCnew | +$2.39B |
| META Meta Platforms, Inc. | +$4.96B |
| GLW Corning Incorporated | +$399M |
| DB Deutsche Bank AG | +$2.08B |
| AMZN Amazon.com, Inc. | +$6.73B |
| LITE Lumentum Holdings Inc. | +$351M |
| MSFT Microsoft Corporation | +$12.07B |
| COHR Coherent, Inc. | +$323M |
| TRGP Targa Resources Corp. | +$307M |
| AVGO Broadcom Inc. | +$4.58B |
Top sells this quarter · 15
| JPM JPMorgan Chase & Co. | −$550M |
| DELL Dell Technologies Inc. | −$384M |
| LMT Lockheed Martin Corporation | −$381M |
| HD The Home Depot, Inc. | −$268M |
| ES Eversource Energy | −$265M |
| LLY Eli Lilly and Company | −$239M |
| TSM Taiwan Semiconductor Manufactu | −$198M |
| SBAC SBA Communications Corporation | −$191M |
| EXPE Expedia Group, Inc. | −$186M |
| CNI Canadian National Railway Comp | −$184M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $302.17B | 3497 | +17.15% | +17.59% | -0.44% | +5.68B |
| 2025-12-31 | $306.55B | 3493 | +17.70% | +17.72% | -0.02% | +2.44B |
| 2025-09-30 | $297.98B | 3468 | +16.41% | +17.52% | -1.11% | +5.36B |
| 2025-06-30 | $271.04B | 3470 | +15.01% | +14.94% | +0.07% | -5.77B |
| 2025-03-31 | $251.81B | 3454 | +5.89% | +8.30% | -2.41% | +4.18B |
| 2024-12-31 | $254.82B | 3437 | +16.77% | +24.89% | -8.12% | +7.39B |
| 2024-09-30 | $245.14B | 3467 | +29.09% | +36.04% | -6.94% | +9.19B |
| 2024-06-30 | $221.21B | 3423 | +16.59% | +24.49% | -7.90% | +3.62B |
| 2024-03-31 | $214.98B | 3475 | +21.45% | +29.62% | -8.18% | +5.44B |
| 2023-12-31 | $195.54B | 3479 | +18.88% | +26.18% | -7.30% | +23.29B |
| 2023-09-30 | $154.37B | 3545 | +15.09% | +21.57% | -6.48% | -26.46B |
| 2023-06-30 | $187.71B | 3634 | +12.93% | +19.42% | -6.49% | -1.17B |
| 2023-03-31 | $179.16B | 3721 | -7.90% | -7.82% | -0.08% | -2.64B |
| 2022-12-31 | $173.31B | 3794 | -16.25% | -18.17% | +1.92% | -5.14B |
| 2022-09-30 | $165.20B | 3703 | -13.89% | -15.51% | +1.62% | -3.63B |
| 2022-06-30 | $178.60B | 3814 | -8.39% | -10.62% | +2.23% | -5.07B |