Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.38%
trims when stocks drop
when a holding falls −10%+
Middle response
-15.09%
baseline attrition
Rally response
-31.26%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $110M | 4.7% | — | 2.3 yr |
| BTSGUBrightSpring Health Serv | $49M | 2.1% | — | 2.3 yr |
| IRENIREN Limited | $42M | 1.8% | +462.9% | 0.8 yr |
| — | $39M | 1.7% | — | 1.0 yr |
| — | $37M | 1.6% | — | 0.8 yr |
| — | $34M | 1.5% | — | 0.3 yr |
| TSLATesla, Inc. | $28M | 1.2% | +43.4% | 6.0 yr |
| ETHGrayscale Ethereum Mini | $27M | 1.2% | — | 0.5 yr |
| METAMeta Platforms, Inc. | $27M | 1.2% | -0.4% | 6.5 yr |
| — | $26M | 1.1% | — | 0.8 yr |
| — | $23M | 1.0% | — | 0.3 yr |
| ANSCAgriculture & Natural So | $22M | 1.0% | +5.8% | 2.0 yr |
| NVDANVIDIA Corporation | $20M | 0.9% | +60.9% | 5.3 yr |
| — | $19M | 0.8% | — | 1.5 yr |
| — | $18M | 0.8% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown34.7%+5.9pp$805M
Shell Companies11.7%+3.6pp$272M
Asset Management7.7%+0.5pp$178M
Asset Management - Income3.2%+0.1pp$74M
Financial - Capital Markets3.2%+2.1pp$73M
Financial - Conglomerates2.4%+2.0pp$55M
Software - Application2.1%+0.7pp$49M
Medical - Healthcare Information Services2.1%+1.1pp$49M
Semiconductors2.1%-3.4pp$48M
REIT - Mortgage1.9%-0.3pp$44M
Country
US57.0%-9.2pp
Unknown34.7%+5.8pp
AU1.9%+1.8pp
CA1.2%+0.6pp
KY1.2%+0.6pp
SG0.7%+0.5pp
MX0.5%+0.3pp
GB0.5%-0.3pp
Top 5: 11.9% · Top 10: 18.1% · Top 25: 28.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $20M | +0.01B | 60.9% |
| TSLA | $10M | +0.00B | 43.4% |
| ANSC | $13M | +0.00B | 5.8% |
| TDAC | $8M | +0.00B | 5.0% |
| BA | $1M | +0.00B | 16.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| META | $6M | -0.00B | -0.4% |
Top buys this quarter · 15
| TSLA Tesla, Inc. | +$17M |
| DBCA D. Boral Acquisition I Corp. Cnew | +$12M |
| TACO Berto Acquisition Corp. | +$9M |
| COIN Coinbase Global, Inc. | +$8M |
| META Meta Platforms, Inc. | +$8M |
| QCOM QUALCOMM Incorporated | +$7M |
| CIFR Cipher Mining Inc. | +$7M |
| DMII Drugs Made In America Acquisit | +$7M |
| WENN Wen Acquisition Corp Class A O | +$7M |
| WT WisdomTree, Inc. | +$7M |
Top sells this quarter · 15
| IREN IREN Limited | −$63M |
| AMD Advanced Micro Devices, Inc. | −$26M |
| YCY AA Mission Acquisition Corp. Iexit | −$25M |
| AAPL Apple Inc. | −$22M |
| GOOG Alphabet Inc. | −$16M |
| BA The Boeing Company | −$15M |
| BTU Peabody Energy Corporation | −$14M |
| MS Morgan Stanley | −$13M |
| AVGO Broadcom Inc. | −$12M |
| NVDA NVIDIA Corporation | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.32B | 1180 | +29.30% | +17.59% | +11.70% | +0.15B |
| 2025-12-31 | $2.04B | 1080 | +14.49% | +17.72% | -3.23% | +0.27B |
| 2025-09-30 | $1.73B | 1006 | +19.69% | +17.52% | +2.18% | -0.00B |
| 2025-06-30 | $1.62B | 1036 | +28.45% | +14.94% | +13.51% | -0.05B |
| 2025-03-31 | $1.50B | 1026 | +23.97% | +8.30% | +15.66% | +0.08B |
| 2024-12-31 | $1.50B | 1065 | +43.10% | +24.89% | +18.21% | +0.27B |
| 2024-09-30 | $1.16B | 1060 | +50.11% | +36.04% | +14.07% | -0.22B |
| 2024-06-30 | $1.20B | 1099 | +34.68% | +24.49% | +10.19% | -0.23B |
| 2024-03-31 | $1.33B | 1114 | +32.81% | +29.62% | +3.19% | -0.80B |
| 2023-12-31 | $1.96B | 1174 | +35.53% | +26.18% | +9.35% | +0.30B |
| 2023-09-30 | $1.49B | 1328 | +21.98% | +21.57% | +0.41% | -0.40B |
| 2023-06-30 | $1.84B | 1277 | +89.65% | +19.42% | +70.22% | +0.12B |
| 2023-03-31 | $1.62B | 1349 | +31.33% | -7.82% | +39.15% | -0.52B |
| 2022-12-31 | $1.93B | 1552 | +0.75% | +7.56% | -6.81% | -0.18B |
| 2022-09-30 | $2.10B | 1854 | +60.35% | -4.93% | +65.28% | -1.47B |
| 2022-06-30 | $2.22B | 1852 | -26.63% | -16.11% | -10.52% | +0.51B |