Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.00%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
-5.41%
trims into rallies
when a holding rises +10%+
Top positions · 1
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GDSGDS Holdings Limited | $396M | 100.0% | +59.1% | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Information Technology Services100.0%+0.0pp$396M
Country
CN100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GDS | $401M | +0.24B | 59.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $396M | 1 | +59.06% | +17.59% | +41.47% | -0.00B |
| 2025-12-31 | $343M | 1 | +46.89% | +17.72% | +29.17% | +0.00B |
| 2025-09-30 | $381M | 1 | +89.71% | +17.52% | +72.19% | -0.23B |
| 2025-06-30 | $484M | 1 | +229.06% | +14.94% | +214.12% | +0.00B |
| 2025-03-31 | $401M | 1 | +280.90% | +8.30% | +272.60% | -0.00B |
| 2024-12-31 | $376M | 1 | +160.53% | +24.89% | +135.64% | +0.00B |
| 2024-09-30 | $323M | 1 | +86.30% | +36.04% | +50.26% | +0.00B |
| 2024-06-30 | $147M | 1 | -15.47% | +24.49% | -39.96% | -0.00B |
| 2024-03-31 | $105M | 1 | -64.36% | +29.62% | -93.99% | -0.00B |
| 2023-12-31 | $144M | 1 | -55.77% | +26.18% | -81.95% | +0.00B |
| 2023-09-30 | $173M | 1 | -38.00% | +21.57% | -59.56% | +0.00B |
| 2023-06-30 | $174M | 1 | -67.09% | +19.42% | -86.51% | -0.00B |
| 2023-03-31 | $295M | 1 | -52.46% | -7.82% | -44.64% | -0.00B |
| 2022-12-31 | $327M | 1 | +16.76% | +7.56% | +9.20% | +0.00B |
| 2022-09-30 | $280M | 1 | -47.11% | -4.93% | -42.18% | +0.00B |
| 2022-06-30 | $529M | 1 | -14.93% | -16.11% | +1.18% | +0.00B |