Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.14%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.55%
baseline attrition
Rally response
-8.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CCJCameco Corporation | $369M | 17.5% | +164.4% | 2.8 yr |
| ASMLASML Holding N.V. | $157M | 7.4% | +100.9% | 10.5 yr |
| MELIMercadoLibre, Inc. | $132M | 6.3% | -11.4% | 5.5 yr |
| FTITechnipFMC plc | $122M | 5.8% | +119.3% | 2.5 yr |
| HWMHowmet Aerospace Inc. | $97M | 4.6% | +78.1% | 5.0 yr |
| VRTVertiv Holdings Co | $93M | 4.4% | +247.5% | 5.5 yr |
| NVDANVIDIA Corporation | $86M | 4.1% | +60.9% | 7.3 yr |
| TSMTaiwan Semiconductor Man | $85M | 4.0% | +105.6% | 6.3 yr |
| GOOGLAlphabet Inc. | $79M | 3.7% | — | 10.5 yr |
| IBNICICI Bank Limited | $77M | 3.7% | -17.3% | 7.8 yr |
| CWCurtiss-Wright Corporati | $53M | 2.5% | +115.0% | 3.0 yr |
| MAMastercard Incorporated | $47M | 2.2% | -8.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $46M | 2.2% | -0.6% | 10.5 yr |
| AAPLApple Inc. | $39M | 1.9% | +14.7% | 10.5 yr |
| AEISAdvanced Energy Industri | $36M | 1.7% | +239.4% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Uranium17.5%+17.5pp$369M
Semiconductors16.9%+4.8pp$355M
Aerospace & Defense8.0%+0.7pp$169M
Specialty Retail7.2%-1.4pp$151M
Oil & Gas Equipment & Services6.4%+6.3pp$136M
Electrical Equipment & Parts6.1%+3.5pp$129M
Internet Content & Information4.7%-0.2pp$98M
Banks - Regional3.8%-10.7pp$80M
Medical - Devices2.6%-0.9pp$54M
Financial - Credit Services2.3%-2.5pp$49M
Country
US53.5%-8.4pp
CA17.5%+17.4pp
NL8.3%+3.3pp
UY6.3%-0.7pp
GB5.8%+5.8pp
TW4.0%+1.0pp
IN3.7%-10.7pp
IE0.8%-0.0pp
Top 5: 41.6% · Top 10: 61.6% · Top 25: 84.2%
Top buys this quarter · 15
| CCJ Cameco Corporation | +$360M |
| SLB SLB N.V. | +$11M |
| SWK Stanley Black & Decker, Inc. | +$8M |
| STM STMicroelectronics N.V. | +$6M |
| AVGO Broadcom Inc. | +$5M |
| ALB Albemarle Corporation | +$3M |
| WAT Waters Corporationnew | +$2M |
| ILMN Illumina, Inc. | +$1M |
| CVX Chevron Corporation | +$1M |
| PFE Pfizer Inc. | +$1M |
Top sells this quarter · 15
| FTI TechnipFMC plc | −$199M |
| HDB HDFC Bank Limitedexit | −$110M |
| IBN ICICI Bank Limited | −$66M |
| ASML ASML Holding N.V. | −$50M |
| EOG EOG Resources, Inc. | −$29M |
| BAC Bank of America Corporationexit | −$27M |
| TSM Taiwan Semiconductor Manufactu | −$19M |
| HWM Howmet Aerospace Inc. | −$18M |
| MSFT Microsoft Corporation | −$13M |
| VRT Vertiv Holdings Co | −$68M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.10B | 73 | +31.72% | +17.59% | +14.13% | -0.15B |
| 2025-12-31 | $2.10B | 71 | +19.44% | +17.72% | +1.72% | +0.00B |
| 2025-09-30 | $2.04B | 72 | +15.86% | +17.52% | -1.65% | -0.27B |
| 2025-06-30 | $2.26B | 73 | +19.71% | +14.94% | +4.77% | -0.18B |
| 2025-03-31 | $2.09B | 73 | +7.40% | +8.30% | -0.90% | -0.27B |
| 2024-12-31 | $2.42B | 80 | +17.91% | +24.89% | -6.98% | -0.13B |
| 2024-09-30 | $2.55B | 77 | +28.60% | +36.04% | -7.44% | -0.18B |
| 2024-06-30 | $2.59B | 74 | +22.08% | +24.49% | -2.41% | -0.44B |
| 2024-03-31 | $2.90B | 76 | +21.35% | +29.62% | -8.28% | -0.44B |
| 2023-12-31 | $3.11B | 74 | +24.99% | +26.18% | -1.19% | -0.13B |
| 2023-09-30 | $2.98B | 75 | +33.28% | +21.57% | +11.71% | -0.11B |
| 2023-06-30 | $3.08B | 76 | +28.42% | +19.42% | +8.99% | -0.09B |
| 2023-03-31 | $3.06B | 73 | +5.61% | -7.82% | +13.43% | +0.24B |
| 2022-12-31 | $2.55B | 75 | +16.18% | +7.56% | +8.62% | -0.03B |
| 2022-09-30 | $2.22B | 77 | -3.51% | -4.93% | +1.42% | -0.05B |
| 2022-06-30 | $2.36B | 79 | -14.58% | -16.11% | +1.53% | -0.30B |