Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.11%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.26%
baseline attrition
Rally response
-11.88%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QQQInvesco QQQ Trust, Serie | $355M | 25.4% | — | 0.8 yr |
| NTRANatera, Inc. | $153M | 10.9% | +41.4% | 2.0 yr |
| NUNu Holdings Ltd. | $89M | 6.4% | +40.3% | 1.0 yr |
| MSFTMicrosoft Corporation | $74M | 5.3% | -0.6% | 6.8 yr |
| EWZiShares MSCI Brazil ETF | $71M | 5.1% | — | 2.8 yr |
| TEVATeva Pharmaceutical Indu | $62M | 4.5% | +96.0% | 1.5 yr |
| TSMTaiwan Semiconductor Man | $52M | 3.7% | +105.6% | 0.5 yr |
| METAMeta Platforms, Inc. | $51M | 3.7% | -0.4% | 9.3 yr |
| IFSIntercorp Financial Serv | $51M | 3.7% | +56.5% | 6.5 yr |
| MUMicron Technology, Inc. | $49M | 3.5% | +289.6% | 6.3 yr |
| BDXBecton, Dickinson and Co | $35M | 2.5% | +14.0% | 0.3 yr |
| GOOGAlphabet Inc. | $32M | 2.3% | +84.3% | 8.5 yr |
| ARMArm Holdings plc America | $31M | 2.2% | +41.7% | 1.3 yr |
| KWEBKraneShares CSI China In | $26M | 1.8% | — | 2.3 yr |
| AAPLApple Inc. | $24M | 1.7% | +14.7% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management34.8%+31.8pp$486M
Medical - Diagnostics & Research11.3%-4.7pp$158M
Semiconductors10.8%+4.6pp$151M
Software - Infrastructure8.1%+0.7pp$113M
Banks - Diversified7.5%+5.6pp$105M
Internet Content & Information6.0%-10.4pp$83M
Drug Manufacturers - Specialty & Generic4.5%+0.9pp$62M
Banks - Regional4.1%-1.6pp$57M
Aerospace & Defense3.1%$43M
Medical - Instruments & Supplies2.5%$35M
Country
US78.2%+12.2pp
BR6.4%
IL4.5%+0.9pp
TW3.7%
PE3.7%-1.1pp
GB2.2%+0.2pp
Unknown0.6%+0.1pp
AR0.4%-10.3pp
Top 5: 53.2% · Top 10: 72.2% · Top 25: 94.1%
Top buys this quarter · 9
| KORU Direxion Daily MSCI South Korenew | +$0M |
| EWZ iShares MSCI Brazil ETF | +$0M |
| EWY iShares MSCI South Korea ETFnew | +$0M |
| NU Nu Holdings Ltd. | +$57M |
| BDX Becton, Dickinson and Companynew | +$35M |
| META Meta Platforms, Inc. | +$31M |
| MSFT Microsoft Corporation | +$20M |
| NOC Northrop Grumman Corporationnew | +$15M |
| WAT Waters Corporationnew | +$6M |
Top sells this quarter · 12
| — | −$5M |
| QQQ Invesco QQQ Trust, Series 1 | −$0M |
| SLV iShares Silver Trust | −$0M |
| KWEB KraneShares CSI China Internet | −$0M |
| XLV State Street Health Care Selec | −$0M |
| MELI MercadoLibre, Inc.exit | −$74M |
| AVGO Broadcom Inc.exit | −$25M |
| FLR Fluor Corporationexit | −$23M |
| YPF YPF Sociedad Anónimaexit | −$10M |
| WDAY Workday, Inc.exit | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.40B | 46 | +33.91% | +17.59% | +16.32% | +0.02B |
| 2025-12-31 | $1.44B | 45 | +26.15% | +17.72% | +8.43% | +0.46B |
| 2025-09-30 | $866M | 51 | +24.17% | +17.52% | +6.65% | -0.19B |
| 2025-06-30 | $1.02B | 44 | +22.99% | +14.94% | +8.05% | +0.16B |
| 2025-03-31 | $716M | 41 | +11.29% | +8.30% | +2.99% | -0.40B |
| 2024-12-31 | $1.24B | 45 | +42.03% | +24.89% | +17.15% | +0.32B |
| 2024-09-30 | $832M | 38 | +41.71% | +36.04% | +5.67% | +0.03B |
| 2024-06-30 | $779M | 37 | +34.44% | +24.49% | +9.95% | -0.01B |
| 2024-03-31 | $730M | 45 | +38.06% | +29.62% | +8.43% | +0.16B |
| 2023-12-31 | $493M | 43 | +45.18% | +26.18% | +19.00% | -0.15B |
| 2023-09-30 | $575M | 43 | +32.79% | +21.57% | +11.23% | +0.23B |
| 2023-06-30 | $351M | 41 | +27.80% | +19.42% | +8.37% | -0.35B |
| 2023-03-31 | $628M | 41 | -9.15% | -7.82% | -1.33% | +0.11B |
| 2022-12-31 | $428M | 40 | +1.66% | +7.56% | -5.91% | -0.04B |
| 2022-09-30 | $463M | 43 | -6.21% | -4.93% | -1.28% | +0.02B |
| 2022-06-30 | $474M | 45 | -21.17% | -16.11% | -5.06% | +0.03B |