Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.88%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.18%
steady accumulation
Rally response
-13.61%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SLDPSolid Power, Inc. | $37M | 10.4% | +185.7% | 0.3 yr |
| — | $30M | 8.4% | — | 1.8 yr |
| IONQIonQ, Inc. | $24M | 6.6% | +30.6% | 0.3 yr |
| CMPSCOMPASS Pathways plc | $8M | 2.3% | +93.4% | 0.3 yr |
| — | $8M | 2.3% | — | 0.3 yr |
| FGMCFG Merger Corp. | $8M | 2.2% | +5.3% | 1.0 yr |
| JACSJackson Acquisition Comp | $7M | 2.1% | +5.2% | 1.0 yr |
| — | $7M | 1.9% | — | 1.0 yr |
| — | $5M | 1.5% | — | 0.3 yr |
| — | $5M | 1.5% | — | 1.0 yr |
| DMIIDrugs Made In America Ac | $5M | 1.5% | — | 0.3 yr |
| KCHVKochav Defense Acquisiti | $5M | 1.4% | — | 0.8 yr |
| — | $5M | 1.4% | — | 0.3 yr |
| — | $5M | 1.3% | — | 0.3 yr |
| IRHOIron Horse Acquisitions | $5M | 1.3% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown43.8%-16.2pp$156M
Shell Companies21.9%+14.5pp$78M
Electrical Equipment & Parts10.7%-3.5pp$38M
Computer Hardware6.6%$24M
Financial - Conglomerates6.1%+1.0pp$22M
Asset Management2.5%+2.5pp$9M
Medical - Care Facilities2.3%$8M
Investment - Banking & Investment Services1.4%$5M
Auto - Manufacturers1.2%$4M
Biotechnology1.1%-8.4pp$4M
Country
US45.9%+9.3pp
Unknown43.8%-16.0pp
KY3.5%+1.9pp
GB2.3%+2.3pp
HK1.7%
SG1.1%+0.2pp
CA0.7%+0.6pp
MX0.4%
Top 5: 30.0% · Top 10: 39.3% · Top 25: 57.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SLDP Solid Power, Inc.new | +$37M |
| IONQ IonQ, Inc.new | +$24M |
| CMPS COMPASS Pathways plcnew | +$8M |
| DMII Drugs Made In America Acquisitnew | +$5M |
| IRHO Iron Horse Acquisitions II Cornew | +$5M |
| CADL Candel Therapeutics, Inc. | +$4M |
| BBCQ Bleichroeder Acquisition Corp.new | +$3M |
| MESH Meshflow Acquisition Corp.new | +$2M |
| DNMX Dynamix Corporation III Class new | +$2M |
| SCYX SCYNEXIS, Inc.new | +$2M |
Top sells this quarter · 15
| ABSI Absci Corporationexit | −$3M |
| KYTX Kyverna Therapeutics, Inc.exit | −$2M |
| COLA Columbus Acquisition Corpexit | −$2M |
| GIW GigCapital8 Corp.exit | −$1M |
| CHEC Chenghe Acquisition III Co. Clexit | −$0M |
| BCTXZ BriaCell Therapeutics Corp. Wa | −$0M |
| IBACR IB Acquisition Corp. Right | −$0M |
| — | −$0M |
| — | −$0M |
| — | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $357M | 264 | +13.48% | +17.59% | -4.11% | +0.13B |
| 2025-12-31 | $264M | 191 | -1.37% | +17.72% | -19.09% | -0.03B |
| 2025-09-30 | $318M | 180 | +24.27% | +17.52% | +6.76% | -0.04B |
| 2025-06-30 | $311M | 157 | +22.99% | +10.78% | +12.21% | +0.04B |
| 2025-03-31 | $220M | 124 | -25.27% | -4.27% | -21.00% | +0.04B |
| 2024-12-31 | $238M | 140 | +17.22% | +2.49% | +14.73% | -0.02B |
| 2024-09-30 | $219M | 134 | — | — | — | — |