Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.03%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.54%
baseline attrition
Rally response
-1.58%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $228M | 20.4% | +14.7% | 10.5 yr |
| GOOGLAlphabet Inc. | $110M | 9.8% | — | 2.5 yr |
| AMZNAmazon.com, Inc. | $88M | 7.8% | +9.5% | 9.5 yr |
| XPOXPO Logistics, Inc. | $55M | 4.9% | +80.8% | 10.5 yr |
| MSFTMicrosoft Corporation | $55M | 4.9% | -0.6% | 9.5 yr |
| NVDANVIDIA Corporation | $55M | 4.9% | +60.9% | 2.5 yr |
| METAMeta Platforms, Inc. | $51M | 4.5% | -0.4% | 6.5 yr |
| JPMJPMorgan Chase & Co. | $45M | 4.0% | +21.8% | 10.5 yr |
| VRTVertiv Holdings Co | $43M | 3.9% | +247.5% | 1.3 yr |
| BXBlackstone Inc. | $41M | 3.7% | -14.9% | 6.5 yr |
| VVisa Inc. | $31M | 2.8% | -13.1% | 2.5 yr |
| LLYEli Lilly and Company | $28M | 2.5% | +12.2% | 3.0 yr |
| SYKStryker Corporation | $24M | 2.2% | -11.1% | 10.5 yr |
| QXOQXO, Inc. | $24M | 2.1% | +43.4% | 0.8 yr |
| RDDTReddit, Inc. | $20M | 1.8% | +28.4% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Consumer Electronics20.4%-2.4pp$228M
Internet Content & Information17.4%+3.5pp$194M
Specialty Retail7.8%-1.3pp$88M
Software - Infrastructure5.3%-1.3pp$60M
Drug Manufacturers - General5.3%+0.7pp$59M
Semiconductors5.0%+1.5pp$56M
Integrated Freight & Logistics4.9%+1.4pp$55M
Asset Management4.7%-2.6pp$52M
Banks - Diversified4.1%-0.3pp$46M
Financial - Credit Services4.0%-1.4pp$45M
Country
US99.6%-0.1pp
CA0.1%+0.1pp
TW0.1%+0.1pp
IT0.1%-0.0pp
Top 5: 47.9% · Top 10: 68.8% · Top 25: 93.1%
Top buys this quarter · 13
| QXO QXO, Inc. | +$7M |
| SCHW The Charles Schwab Corporationnew | +$6M |
| RDDT Reddit, Inc. | +$20M |
| LLY Eli Lilly and Company | +$28M |
| RTX RTX Corporation | +$2M |
| FITB Fifth Third Bancorpnew | +$1M |
| META Meta Platforms, Inc. | +$51M |
| PWR Quanta Services, Inc.new | +$0M |
| GEV GE Vernova Inc. | +$0M |
| EHC Encompass Health Corporation | +$1M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$7M |
| WHR Whirlpool Corporationexit | −$4M |
| CEG Constellation Energy Corporati | −$3M |
| XPO XPO Logistics, Inc. | −$41M |
| PFE Pfizer Inc. | −$2M |
| AMZN Amazon.com, Inc. | −$2M |
| VRT Vertiv Holdings Co | −$29M |
| JPM JPMorgan Chase & Co. | −$1M |
| UBER Uber Technologies, Inc.exit | −$1M |
| HD The Home Depot, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.12B | 76 | +17.13% | +17.59% | -0.46% | -0.02B |
| 2025-12-31 | $1.22B | 82 | +15.31% | +17.72% | -2.41% | +0.02B |
| 2025-09-30 | $1.17B | 81 | +19.07% | +17.52% | +1.56% | +0.02B |
| 2025-06-30 | $1.04B | 79 | +16.23% | +14.94% | +1.29% | +0.03B |
| 2025-03-31 | $916M | 81 | +8.70% | +8.30% | +0.40% | -0.07B |
| 2024-12-31 | $1.07B | 85 | +23.55% | +24.89% | -1.34% | +0.00B |
| 2024-09-30 | $1.01B | 85 | +32.97% | +36.04% | -3.07% | -0.01B |
| 2024-06-30 | $949M | 86 | +19.82% | +24.49% | -4.68% | +0.01B |
| 2024-03-31 | $905M | 90 | +30.96% | +29.62% | +1.34% | -0.01B |
| 2023-12-31 | $874M | 92 | +38.03% | +26.18% | +11.85% | -0.03B |
| 2023-09-30 | $790M | 96 | +24.60% | +21.57% | +3.03% | -0.01B |
| 2023-06-30 | $825M | 98 | +23.61% | +19.42% | +4.18% | -0.06B |
| 2023-03-31 | $783M | 93 | -9.66% | -7.82% | -1.85% | -0.00B |
| 2022-12-31 | $711M | 96 | +2.87% | +7.56% | -4.69% | -0.00B |
| 2022-09-30 | $691M | 90 | -4.09% | -4.93% | +0.84% | -0.01B |
| 2022-06-30 | $734M | 89 | -16.92% | -16.11% | -0.81% | -0.02B |