Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.60%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.48%
baseline attrition
Rally response
-27.23%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $310M | 11.3% | +60.9% | 3.8 yr |
| MSTRStrategy Inc | $228M | 8.3% | -56.7% | 2.0 yr |
| AMDAdvanced Micro Devices, | $153M | 5.6% | +98.0% | 4.3 yr |
| IRENIREN Limited | $101M | 3.7% | +462.9% | 2.0 yr |
| AMZNAmazon.com, Inc. | $94M | 3.4% | +9.5% | 4.0 yr |
| UNHUnitedHealth Group Incor | $92M | 3.3% | -46.9% | 2.5 yr |
| IVViShares Core S&P 500 ETF | $90M | 3.3% | — | 1.8 yr |
| AVGOBroadcom Inc. | $86M | 3.1% | +86.0% | 3.8 yr |
| CRCLCircle Internet Group | $78M | 2.8% | — | 1.0 yr |
| FBTCFidelity Wise Origin Bit | $76M | 2.7% | — | 2.0 yr |
| INTCIntel Corporation | $69M | 2.5% | +94.3% | 3.3 yr |
| ORCLOracle Corporation | $67M | 2.4% | +5.9% | 2.0 yr |
| GCMGGCM Grosvenor Inc. | $63M | 2.3% | -23.0% | 4.3 yr |
| HOODRobinhood Markets, Inc. | $63M | 2.3% | +66.5% | 1.3 yr |
| NOWServiceNow, Inc. | $62M | 2.3% | -34.3% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors23.6%+2.5pp$650M
Software - Application15.4%-37.4pp$423M
Financial - Capital Markets11.6%+11.2pp$320M
Asset Management7.6%-4.2pp$208M
Software - Infrastructure5.4%+4.0pp$148M
Specialty Retail4.2%+3.4pp$115M
Medical - Healthcare Plans3.4%+3.4pp$94M
Hardware, Equipment & Parts2.9%+2.9pp$80M
Asset Management - Cryptocurrency2.7%+2.7pp$76M
Computer Hardware2.7%+1.6pp$74M
Country
US89.2%-5.9pp
AU3.7%+3.7pp
GB2.3%+1.7pp
Unknown2.1%-0.6pp
IE0.8%+0.8pp
KY0.4%+0.3pp
CA0.4%+0.1pp
DK0.3%+0.3pp
Top 5: 32.2% · Top 10: 47.5% · Top 25: 75.7%
Top buys this quarter · 15
| AMD Advanced Micro Devices, Inc. | +$58M |
| NOW ServiceNow, Inc. | +$54M |
| APP AppLovin Corporation | +$46M |
| MSFT Microsoft Corporation | +$41M |
| SHEL Shell plc | +$35M |
| BMNR Bitmine Immersion Technologies | +$34M |
| AMZN Amazon.com, Inc. | +$26M |
| ONDS Ondas Holdings Inc. | +$23M |
| UNH UnitedHealth Group Incorporate | +$19M |
| HOOD Robinhood Markets, Inc. | +$63M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.75B | 198 | -4.29% | +17.59% | -21.88% | -0.25B |
| 2025-12-31 | $3.35B | 150 | -2.55% | +17.72% | -20.26% | -0.78B |
| 2025-09-30 | $5.10B | 291 | +54.05% | +17.52% | +36.53% | +0.97B |
| 2025-06-30 | $4.07B | 417 | +71.76% | +14.94% | +56.82% | +0.61B |
| 2025-03-31 | $2.67B | 289 | +22.62% | +8.30% | +14.32% | +0.29B |
| 2024-12-31 | $2.61B | 235 | +42.57% | +24.89% | +17.68% | +1.20B |
| 2024-09-30 | $1.10B | 187 | +18.58% | +36.04% | -17.45% | +0.54B |
| 2024-06-30 | $496M | 219 | +0.76% | +24.49% | -23.73% | +0.11B |
| 2024-03-31 | $418M | 239 | +13.96% | +29.62% | -15.67% | -0.06B |
| 2023-12-31 | $453M | 231 | +12.16% | +26.18% | -14.02% | -3.43B |
| 2023-09-30 | $3.64B | 518 | +7.11% | +21.57% | -14.46% | -0.46B |
| 2023-06-30 | $4.27B | 542 | +3.53% | +19.42% | -15.90% | -0.57B |
| 2023-03-31 | $4.62B | 646 | -30.70% | -7.82% | -22.88% | -0.14B |
| 2022-12-31 | $4.56B | 698 | +1.83% | +7.56% | -5.73% | -0.03B |
| 2022-09-30 | $4.51B | 760 | -7.09% | -4.93% | -2.16% | -0.19B |
| 2022-06-30 | $5.05B | 800 | -29.87% | -16.11% | -13.76% | +4.13B |