Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+14.05%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.16%
baseline attrition
Rally response
-7.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SESea Limited | $337M | 7.7% | -36.5% | 2.5 yr |
| AMZNAmazon.com, Inc. | $322M | 7.4% | +9.5% | 6.3 yr |
| PFGCPerformance Food Group C | $319M | 7.3% | +8.9% | 5.5 yr |
| CPNGCoupang, Inc. | $293M | 6.7% | -13.9% | 1.0 yr |
| AMDAdvanced Micro Devices, | $239M | 5.5% | +98.0% | 2.5 yr |
| DTDynatrace, Inc. | $196M | 4.5% | -21.6% | 2.0 yr |
| ABGAsbury Automotive Group, | $187M | 4.3% | -11.5% | 10.5 yr |
| LPXLouisiana-Pacific Corpor | $184M | 4.2% | -19.9% | 3.0 yr |
| SNPSSynopsys, Inc. | $178M | 4.1% | -7.5% | 0.8 yr |
| — | $169M | 3.9% | — | 2.8 yr |
| FERGFerguson plc | $151M | 3.5% | +47.8% | 1.8 yr |
| WKWorkiva Inc. | $150M | 3.4% | -21.4% | 1.3 yr |
| THCTenet Healthcare Corpora | $149M | 3.4% | +40.3% | 0.8 yr |
| VVVValvoline Inc. | $149M | 3.4% | -3.2% | 1.3 yr |
| ZZillow Group, Inc. Class | $143M | 3.3% | -39.6% | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail24.3%+12.5pp$1.06B
Semiconductors8.8%+6.1pp$382M
Software - Application8.7%-2.5pp$379M
Food Distribution7.3%+4.5pp$319M
Auto - Dealerships5.2%+2.0pp$227M
Software - Infrastructure5.0%-1.1pp$218M
Unknown5.0%+0.5pp$218M
Paper, Lumber & Forest Products4.2%+1.7pp$184M
Household & Personal Products3.7%+1.5pp$162M
Industrial - Distribution3.5%+1.5pp$151M
Country
US69.7%-14.2pp
SG7.7%+2.2pp
KR6.7%
Unknown5.0%+0.5pp
GB3.5%+1.5pp
TW3.3%
CN2.5%-0.3pp
IE1.3%
Top 5: 34.6% · Top 10: 55.6% · Top 25: 94.0%
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactunew | +$143M |
| SE Sea Limited | +$337M |
| PFGC Performance Food Group Company | +$92M |
| SGI Somnigroup International Inc | +$89M |
| MTN Vail Resorts, Inc. | +$80M |
| SNPS Synopsys, Inc. | +$79M |
| Z Zillow Group, Inc. Class C | +$143M |
| CPNG Coupang, Inc. | +$293M |
| EL The Estée Lauder Companies Innew | +$50M |
| AMD Advanced Micro Devices, Inc. | +$42M |
Top sells this quarter · 15
| CRM Salesforce, Inc.exit | −$194M |
| DKNG DraftKings Inc.exit | −$182M |
| GTLB GitLab Inc.exit | −$167M |
| CF CF Industries Holdings, Inc.exit | −$166M |
| JEF Jefferies Financial Group Inc.exit | −$156M |
| ATMU Atmus Filtration Technologies | −$144M |
| LPLA LPL Financial Holdings Inc.exit | −$133M |
| GPK Graphic Packaging Holding Compexit | −$127M |
| LPX Louisiana-Pacific Corporation | −$110M |
| UNH UnitedHealth Group Incorporateexit | −$102M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.36B | 33 | +2.58% | +17.59% | -15.02% | -1.08B |
| 2025-12-31 | $6.32B | 39 | +17.15% | +17.72% | -0.57% | -0.14B |
| 2025-09-30 | $6.80B | 43 | +23.70% | +17.52% | +6.18% | -0.45B |
| 2025-06-30 | $6.79B | 45 | +27.32% | +14.94% | +12.38% | -0.24B |
| 2025-03-31 | $5.98B | 47 | +5.45% | +8.30% | -2.85% | -0.44B |
| 2024-12-31 | $6.54B | 52 | +16.89% | +24.89% | -7.99% | -0.07B |
| 2024-09-30 | $6.59B | 49 | +36.04% | +36.04% | +0.00% | -0.23B |
| 2024-06-30 | $6.20B | 56 | +19.24% | +24.49% | -5.25% | +0.89B |
| 2024-03-31 | $5.45B | 56 | +26.72% | +29.62% | -2.90% | -0.13B |
| 2023-12-31 | $5.12B | 55 | +28.42% | +26.18% | +2.24% | -0.77B |
| 2023-09-30 | $5.05B | 60 | +21.26% | +21.57% | -0.31% | -0.31B |
| 2023-06-30 | $5.57B | 62 | +22.72% | +19.42% | +3.29% | -0.56B |
| 2023-03-31 | $5.93B | 65 | -4.66% | -7.82% | +3.15% | -0.02B |
| 2022-12-31 | $5.39B | 64 | +10.23% | +7.56% | +2.67% | +0.23B |
| 2022-09-30 | $4.68B | 59 | -2.47% | -4.93% | +2.46% | -0.23B |
| 2022-06-30 | $5.03B | 64 | -19.66% | -16.11% | -3.55% | +0.02B |