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
-9.64%
baseline attrition
Rally response
-8.62%
trims into rallies
when a holding rises +10%+
Top positions · 28
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HNGEHinge Health, Inc. | $362M | 25.4% | — | 1.0 yr |
| EQPTEquipmentShare.com Inc. | $276M | 19.3% | — | 0.3 yr |
| UDMYUdemy, Inc. | $176M | 12.3% | -40.5% | 4.5 yr |
| NVDANVIDIA Corporation | $117M | 8.2% | +60.9% | 3.3 yr |
| GOOGLAlphabet Inc. | $83M | 5.8% | — | 3.8 yr |
| AMZNAmazon.com, Inc. | $81M | 5.7% | +9.5% | 4.0 yr |
| TSMTaiwan Semiconductor Man | $77M | 5.4% | +105.6% | 3.3 yr |
| METAMeta Platforms, Inc. | $60M | 4.2% | -0.4% | 3.0 yr |
| MSFTMicrosoft Corporation | $26M | 1.8% | -0.6% | 4.8 yr |
| — | $21M | 1.5% | — | 0.8 yr |
| AVGOBroadcom Inc. | $19M | 1.3% | +86.0% | 2.3 yr |
| REAXThe Real Brokerage Inc. | $17M | 1.2% | -38.4% | 4.5 yr |
| SPOTSpotify Technology S.A. | $15M | 1.1% | -11.8% | 2.3 yr |
| AMATApplied Materials, Inc. | $13M | 0.9% | +137.6% | 1.3 yr |
| SHOPShopify Inc. | $11M | 0.8% | +24.2% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Healthcare Information Services25.4%$362M
Rental & Leasing Services19.3%$276M
Semiconductors17.2%+9.8pp$245M
Education & Training Services12.3%-10.5pp$176M
Internet Content & Information11.1%+6.3pp$158M
Specialty Retail5.7%-0.1pp$81M
Software - Infrastructure2.6%-23.3pp$37M
Unknown1.5%$21M
Real Estate - Services1.2%-9.5pp$17M
Software - Application0.8%-19.6pp$11M
Country
US90.0%+5.1pp
TW5.4%+2.7pp
CA2.0%-8.7pp
Unknown1.5%
LU1.1%+0.8pp
Top 5: 71.1% · Top 10: 89.7% · Top 25: 99.5%
Top buys this quarter · 15
| EQPT EquipmentShare.com Inc.new | +$276M |
| META Meta Platforms, Inc. | +$28M |
| NVDA NVIDIA Corporation | +$21M |
| SPOT Spotify Technology S.A. | +$12M |
| BE Bloom Energy Corporationnew | +$11M |
| AMAT Applied Materials, Inc. | +$9M |
| SHOP Shopify Inc. | +$8M |
| AMZN Amazon.com, Inc. | +$81M |
| AXON Axon Enterprise, Inc.new | +$7M |
| MTSI MACOM Technology Solutions Holnew | +$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.42B | 28 | -11.49% | +17.59% | -29.08% | +0.28B |
| 2025-12-31 | $1.34B | 30 | -9.50% | +17.72% | -27.22% | -0.20B |
| 2025-09-30 | $1.62B | 27 | -2.80% | +17.52% | -20.32% | -0.78B |
| 2025-06-30 | $2.39B | 28 | +0.16% | +14.94% | -14.78% | +0.99B |
| 2025-03-31 | $1.29B | 25 | -18.17% | +8.30% | -26.47% | -0.07B |
| 2024-12-31 | $1.55B | 28 | -6.33% | +24.89% | -31.22% | -0.79B |
| 2024-09-30 | $2.30B | 29 | +15.82% | +36.04% | -20.21% | -0.69B |
| 2024-06-30 | $2.89B | 30 | +9.55% | +24.49% | -14.94% | -0.29B |
| 2024-03-31 | $3.58B | 31 | +43.14% | +29.62% | +13.52% | -0.58B |
| 2023-12-31 | $4.14B | 32 | +56.37% | +26.18% | +30.19% | -0.70B |
| 2023-09-30 | $3.85B | 30 | +9.85% | +21.57% | -11.72% | -0.38B |
| 2023-06-30 | $4.33B | 30 | +23.43% | +19.42% | +4.00% | -0.79B |
| 2023-03-31 | $4.42B | 32 | -29.23% | -7.82% | -21.41% | -0.81B |
| 2022-12-31 | $4.77B | 23 | -11.64% | +7.56% | -19.20% | +0.37B |
| 2022-09-30 | $4.98B | 22 | +10.02% | -4.93% | +14.95% | -0.33B |
| 2022-06-30 | $4.83B | 22 | -33.64% | -16.11% | -17.53% | -0.07B |