Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.37%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.02%
steady accumulation
Rally response
+4.29%
adds into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $232M | 12.8% | +105.6% | 4.0 yr |
| GLDSPDR Gold Shares | $200M | 11.0% | — | 7.0 yr |
| MSFTMicrosoft Corporation | $190M | 10.5% | -0.6% | 3.0 yr |
| GOOGLAlphabet Inc. | $177M | 9.8% | — | 7.3 yr |
| UNPUnion Pacific Corporatio | $154M | 8.5% | +5.1% | 0.5 yr |
| AMZNAmazon.com, Inc. | $149M | 8.2% | +9.5% | 1.3 yr |
| BKNGBooking Holdings Inc. | $147M | 8.1% | -96.3% | 2.5 yr |
| AVGOBroadcom Inc. | $147M | 8.1% | +86.0% | 2.0 yr |
| NVDANVIDIA Corporation | $130M | 7.1% | +60.9% | 4.5 yr |
| IBITiShares Bitcoin Trust ET | $117M | 6.4% | — | 1.0 yr |
| METAMeta Platforms, Inc. | $111M | 6.1% | -0.4% | 8.0 yr |
| ZZillow Group, Inc. Class | $23M | 1.3% | -39.6% | 0.8 yr |
| GENBGenerate Biomedicines, I | $14M | 0.8% | — | 0.3 yr |
| ZGZillow Group, Inc. Class | $12M | 0.6% | -38.1% | 0.8 yr |
| — | $8M | 0.5% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors28.0%+18.4pp$509M
Asset Management18.2%+9.4pp$331M
Internet Content & Information17.8%-17.5pp$324M
Software - Infrastructure10.5%-4.2pp$190M
Railroads8.5%$154M
Specialty Retail8.2%$149M
Travel Services8.1%-7.2pp$147M
Unknown0.5%$8M
Medical - Healthcare Information Services0.2%+0.1pp$4M
Industrial - Pollution & Treatment Controls0.0%-1.6pp$1M
Country
US86.8%-13.2pp
TW12.8%
Unknown0.5%
Top 5: 52.5% · Top 10: 90.5% · Top 25: 100.0%
Top buys this quarter · 9
| TSM Taiwan Semiconductor Manufactu | +$128M |
| NVDA NVIDIA Corporation | +$58M |
| AVGO Broadcom Inc. | +$47M |
| GENB Generate Biomedicines, Inc.new | +$14M |
| MSFT Microsoft Corporation | +$190M |
| AMZN Amazon.com, Inc. | +$149M |
| META Meta Platforms, Inc. | +$111M |
| UNP Union Pacific Corporation | +$6M |
| BKNG Booking Holdings Inc. | +$147M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.82B | 17 | +4.71% | +17.59% | -12.88% | +0.24B |
| 2025-12-31 | $2.08B | 19 | +28.29% | +17.72% | +10.57% | +0.02B |
| 2025-09-30 | $2.10B | 18 | +38.39% | +17.52% | +20.87% | +0.57B |
| 2025-06-30 | $1.44B | 14 | +38.84% | +14.94% | +23.89% | -0.05B |
| 2025-03-31 | $1.13B | 14 | +9.70% | +8.30% | +1.40% | -0.45B |
| 2024-12-31 | $1.69B | 16 | +58.89% | +24.89% | +34.00% | -0.15B |
| 2024-09-30 | $1.74B | 15 | +72.54% | +36.04% | +36.51% | -0.04B |
| 2024-06-30 | $1.66B | 15 | +62.85% | +24.49% | +38.36% | +0.01B |
| 2024-03-31 | $1.59B | 12 | +92.26% | +29.62% | +62.64% | -0.01B |
| 2023-12-31 | $1.19B | 14 | +72.88% | +26.18% | +46.70% | +0.17B |
| 2023-09-30 | $886M | 22 | +40.82% | +21.57% | +19.25% | -0.14B |
| 2023-06-30 | $1.02B | 33 | +26.48% | +19.42% | +7.06% | -0.15B |
| 2023-03-31 | $952M | 48 | -30.97% | -7.82% | -23.15% | -0.00B |
| 2022-12-31 | $788M | 44 | -6.49% | +7.56% | -14.05% | +0.04B |
| 2022-09-30 | $804M | 47 | -9.25% | -4.93% | -4.32% | +0.02B |
| 2022-06-30 | $864M | 45 | -32.92% | -16.11% | -16.81% | +0.20B |