Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-24.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-23.58%
baseline attrition
Rally response
-27.35%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CTRICenturi Holdings, Inc. | $18M | 15.9% | +78.2% | 0.3 yr |
| VSATViasat, Inc. | $13M | 11.0% | +339.5% | 3.5 yr |
| AVGOBroadcom Inc. | $7M | 6.0% | +86.0% | 5.8 yr |
| INTCIntel Corporation | $7M | 5.8% | +94.3% | 8.5 yr |
| AMZNAmazon.com, Inc. | $5M | 4.6% | +9.5% | 8.8 yr |
| TTWOTake-Two Interactive Sof | $4M | 3.8% | -4.7% | 8.0 yr |
| ANETArista Networks, Inc. | $4M | 3.7% | +58.5% | 0.8 yr |
| RRRRed Rock Resorts, Inc. | $3M | 3.1% | +29.9% | 2.0 yr |
| WHWyndham Hotels & Resorts | $3M | 2.9% | -8.4% | 4.8 yr |
| ATUSAltice USA, Inc. | $3M | 2.7% | — | 7.5 yr |
| HSTHost Hotels & Resorts, I | $3M | 2.6% | +40.9% | 3.5 yr |
| PENNPENN Entertainment, Inc. | $3M | 2.5% | -7.8% | 3.8 yr |
| METAMeta Platforms, Inc. | $3M | 2.4% | -0.4% | 7.5 yr |
| IBMInternational Business M | $2M | 2.1% | -0.1% | 7.5 yr |
| SMTCSemtech Corporation | $2M | 2.1% | +123.5% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors20.5%-4.9pp$23M
Regulated Gas15.9%$18M
Communication Equipment12.6%+10.6pp$14M
Gambling, Resorts & Casinos12.2%+10.3pp$14M
Specialty Retail4.6%$5M
Electronic Gaming & Multimedia3.8%+3.4pp$4M
Computer Hardware3.7%$4M
Internet Content & Information3.4%+3.1pp$4M
Travel Lodging2.9%+2.1pp$3M
Telecommunications Services2.8%+0.4pp$3M
Country
US93.0%+10.7pp
NL2.8%-0.0pp
Unknown1.8%-1.7pp
FI1.5%
KY0.9%
Top 5: 43.4% · Top 10: 59.6% · Top 25: 88.4%
Top buys this quarter · 15
| CTRI Centuri Holdings, Inc.new | +$18M |
| VSAT Viasat, Inc. | +$5M |
| PENN PENN Entertainment, Inc. | +$3M |
| HST Host Hotels & Resorts, Inc. | +$2M |
| LTH Life Time Group Holdings, Inc. | +$2M |
| NOK Nokia Oyj | +$1M |
| BROS Dutch Bros Inc. | +$1M |
| IBM International Business Machine | +$1M |
| TNL Travel + Leisure Co. | +$1M |
| WH Wyndham Hotels & Resorts, Inc. | +$1M |
Top sells this quarter · 15
| NVDA NVIDIA Corporationexit | −$9M |
| HAS Hasbro, Inc. | −$5M |
| AMD Advanced Micro Devices, Inc.exit | −$5M |
| ANET Arista Networks, Inc. | −$4M |
| WMT Walmart Inc.exit | −$4M |
| AFRM Affirm Holdings, Inc. | −$4M |
| INTC Intel Corporation | −$4M |
| ADI Analog Devices, Inc. | −$4M |
| DKNG DraftKings Inc.exit | −$3M |
| CRWV CoreWeave, Inc. Class A Commonexit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $114M | 39 | +42.63% | +17.59% | +25.04% | -0.01B |
| 2025-12-31 | $123M | 39 | +34.37% | +17.72% | +16.65% | -0.11B |
| 2025-09-30 | $219M | 60 | +28.46% | +17.52% | +10.95% | -0.06B |
| 2025-06-30 | $232M | 73 | +14.48% | +14.94% | -0.46% | -0.07B |
| 2025-03-31 | $278M | 91 | +5.52% | +8.30% | -2.78% | -0.76B |
| 2024-12-31 | $1.09B | 147 | +26.33% | +24.89% | +1.44% | -0.39B |
| 2024-09-30 | $1.45B | 763 | +15.55% | +36.04% | -20.48% | +0.45B |
| 2024-06-30 | $922M | 741 | +14.93% | +24.49% | -9.56% | +0.44B |
| 2024-03-31 | $484M | 445 | +37.33% | +29.62% | +7.70% | +0.08B |
| 2023-12-31 | $353M | 238 | +42.05% | +26.18% | +15.87% | +0.14B |
| 2023-09-30 | $229M | 188 | +43.74% | +21.57% | +22.17% | -0.04B |
| 2023-06-30 | $248M | 195 | +29.67% | +19.42% | +10.24% | -0.00B |
| 2023-03-31 | $208M | 164 | -7.24% | -7.82% | +0.57% | -0.10B |
| 2022-12-31 | $266M | 273 | -23.01% | -18.17% | -4.84% | +0.00B |
| 2022-09-30 | $281M | 327 | -8.88% | -15.51% | +6.63% | -0.48B |
| 2022-06-30 | $786M | 593 | -6.11% | -10.62% | +4.51% | -0.02B |