Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+21.92%
adds when stocks drop
when a holding falls −10%+
Middle response
-10.09%
baseline attrition
Rally response
+16.23%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $110M | 8.3% | — | 2.3 yr |
| — | $56M | 4.2% | — | 0.3 yr |
| — | $44M | 3.3% | — | 2.0 yr |
| — | $38M | 2.8% | — | 0.8 yr |
| — | $34M | 2.6% | — | 1.8 yr |
| — | $24M | 1.8% | — | 0.8 yr |
| — | $20M | 1.5% | — | 0.8 yr |
| — | $20M | 1.5% | — | 1.5 yr |
| — | $17M | 1.3% | — | 2.0 yr |
| — | $14M | 1.1% | — | 0.5 yr |
| DBCAD. Boral Acquisition I C | $13M | 0.9% | — | 0.3 yr |
| — | $9M | 0.7% | — | 0.8 yr |
| MESHMeshflow Acquisition Cor | $8M | 0.6% | — | 0.3 yr |
| WENNWen Acquisition Corp Cla | $7M | 0.6% | — | 0.8 yr |
| — | $7M | 0.6% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown67.5%-32.5pp$895M
Shell Companies19.1%+19.1pp$253M
Financial - Conglomerates8.1%$107M
Asset Management3.7%$49M
Investment - Banking & Investment Services0.4%$6M
Banks0.4%$5M
Financial - Credit Services0.4%$5M
Advertising Agencies0.1%+0.1pp$1M
Software - Application0.1%$1M
Medical - Healthcare Information Services0.1%$1M
Country
Unknown67.5%-32.5pp
US26.7%+26.7pp
KY3.0%
HK0.8%
CA0.5%
KR0.4%
MX0.3%
AE0.2%
Top 5: 21.3% · Top 10: 28.4% · Top 25: 37.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| DBCA D. Boral Acquisition I Corp. Cnew | +$13M |
| MESH Meshflow Acquisition Corp.new | +$8M |
| ALUB Alussa Energy Acquisition Corpnew | +$7M |
| IRHO Iron Horse Acquisitions II Cornew | +$6M |
| ADAC American Drive Acquisition Comnew | +$6M |
| LPCV Launchpad Cadenza Acquisition new | +$6M |
| CRAN Crane Harbor Acquisition Corp.new | +$6M |
| ITHA ITHAX Acquisition Corp III Clanew | +$5M |
| SAC Safeguard Acquisition Corp.new | +$5M |
| FGII FG Imperii Acquisition Corp. Cnew | +$5M |
Top sells this quarter · 15
| YCY AA Mission Acquisition Corp. Iexit | −$5M |
| CCIX Churchill Capital Corp IX Ordiexit | −$2M |
| CXW CoreCivic, Inc.exit | −$1M |
| PCRX Pacira BioSciences, Inc.exit | −$1M |
| DXCM DexCom, Inc.exit | −$1M |
| COLA Columbus Acquisition Corpexit | −$0M |
| TVA Texas Ventures Acquisition III | −$0M |
| CEPT Cantor Equity Partners II, Incexit | −$0M |
| BACC Blue Acquisition Corp. | −$0M |
| CGCT Cartesian Growth Corporation I | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.33B | 404 | +11.57% | +17.59% | -6.02% | -0.50B |
| 2025-12-31 | $1.84B | 309 | +0.28% | +2.66% | -2.39% | +0.24B |
| 2025-09-30 | $1.60B | 210 | -0.09% | +8.12% | -8.21% | +0.30B |
| 2025-06-30 | $1.30B | 137 | +11.80% | +10.78% | +1.02% | -235.80B |
| 2025-03-31 | $212.08B | 38 | — | — | — | +5.62B |
| 2024-12-31 | $206.46B | 48 | -0.58% | +24.89% | -25.46% | +108.29B |
| 2024-09-30 | $97.66B | 38 | -1.58% | +36.04% | -37.62% | +27.52B |
| 2024-06-30 | $69.04B | 36 | -1.14% | +24.49% | -25.63% | +68.53B |
| 2024-03-31 | $519M | 72 | -0.52% | +29.62% | -30.14% | -0.21B |
| 2023-12-31 | $747M | 183 | +4.20% | +26.18% | -21.98% | -34.48B |
| 2023-09-30 | $35.40B | 465 | +7.61% | +21.57% | -13.96% | -14.46B |
| 2023-06-30 | $48.87B | 569 | +187.47% | +19.42% | +168.05% | +47.05B |
| 2023-03-31 | $1.81B | 681 | +2.50% | +7.46% | -4.96% | -0.55B |
| 2022-12-31 | $2.31B | 467 | +2.76% | +7.56% | -4.80% | -0.83B |
| 2022-09-30 | $3.06B | 599 | +172.60% | -4.93% | +177.53% | -5.49B |
| 2022-06-30 | $3.14B | 624 | — | — | — | -0.02B |