Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.57%
trims when stocks drop
when a holding falls −10%+
Middle response
-19.35%
baseline attrition
Rally response
-23.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $85M | 3.9% | +9.5% | 6.3 yr |
| NVDANVIDIA Corporation | $51M | 2.3% | +60.9% | 5.0 yr |
| GOOGAlphabet Inc. | $47M | 2.1% | +84.3% | 4.5 yr |
| EWYiShares MSCI South Korea | $45M | 2.0% | — | 2.3 yr |
| CCitigroup Inc. | $44M | 2.0% | +63.9% | 5.5 yr |
| IBITiShares Bitcoin Trust ET | $36M | 1.6% | — | 2.3 yr |
| RSPInvesco S&P 500 Equal We | $35M | 1.6% | — | 1.8 yr |
| NFLXNetflix, Inc. | $33M | 1.5% | +3.1% | 4.3 yr |
| XLFState Street Financial S | $33M | 1.5% | — | 6.0 yr |
| CRMSalesforce, Inc. | $31M | 1.4% | -30.2% | 6.0 yr |
| CIFRCipher Mining Inc. | $28M | 1.3% | +459.6% | 0.5 yr |
| METAMeta Platforms, Inc. | $26M | 1.2% | -0.4% | 5.8 yr |
| ERJEmbraer S.A. | $24M | 1.1% | — | 2.3 yr |
| BAThe Boeing Company | $24M | 1.1% | +16.7% | 6.8 yr |
| IWMiShares Russell 2000 ETF | $24M | 1.1% | — | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.6%+1.1pp$322M
Semiconductors5.6%+2.7pp$124M
Specialty Retail5.3%+3.1pp$116M
Internet Content & Information4.3%+1.9pp$94M
Aerospace & Defense3.5%+1.2pp$77M
Software - Infrastructure3.5%+0.6pp$76M
Software - Application3.3%-1.0pp$73M
Regulated Electric2.6%+0.4pp$58M
Banks - Regional2.6%-0.3pp$56M
Financial - Capital Markets2.4%+2.0pp$52M
Country
US91.0%+4.8pp
CA1.9%-1.0pp
BR1.3%-0.3pp
GB0.9%-1.2pp
Unknown0.8%-1.2pp
IE0.8%+0.2pp
LU0.7%+0.6pp
BM0.4%-0.3pp
Top 5: 12.3% · Top 10: 19.9% · Top 25: 34.5%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$34M |
| GOOG Alphabet Inc. | +$24M |
| C Citigroup Inc. | +$17M |
| CRM Salesforce, Inc. | +$16M |
| OKTA Okta, Inc. | +$14M |
| NET Cloudflare, Inc. | +$13M |
| SPOT Spotify Technology S.A. | +$13M |
| NVDA NVIDIA Corporation | +$12M |
| BE Bloom Energy Corporation | +$11M |
| ORLY O'Reilly Automotive, Inc. | +$11M |
Top sells this quarter · 15
| GLW Corning Incorporated | −$23M |
| GS The Goldman Sachs Group, Inc. | −$20M |
| MCD McDonald's Corporation | −$19M |
| META Meta Platforms, Inc. | −$17M |
| UPS United Parcel Service, Inc. | −$16M |
| CRWD CrowdStrike Holdings, Inc. | −$16M |
| TER Teradyne, Inc. | −$14M |
| VZ Verizon Communications Inc. | −$13M |
| KMI Kinder Morgan, Inc. | −$11M |
| XOM Exxon Mobil Corporationexit | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.21B | 1059 | +30.75% | +17.59% | +13.15% | +0.14B |
| 2025-12-31 | $2.03B | 1141 | +25.50% | +17.72% | +7.78% | +0.08B |
| 2025-09-30 | $1.82B | 1145 | +22.30% | +17.52% | +4.78% | -0.72B |
| 2025-06-30 | $2.35B | 1201 | +24.35% | +14.94% | +9.41% | -0.03B |
| 2025-03-31 | $2.15B | 1195 | +13.34% | +8.30% | +5.03% | +0.16B |
| 2024-12-31 | $2.04B | 1147 | +25.95% | +24.89% | +1.07% | +0.09B |
| 2024-09-30 | $1.86B | 1005 | +34.74% | +36.04% | -1.30% | +0.12B |
| 2024-06-30 | $1.59B | 951 | +19.53% | +24.49% | -4.96% | -0.32B |
| 2024-03-31 | $1.89B | 973 | +21.57% | +29.62% | -8.05% | +0.10B |
| 2023-12-31 | $1.65B | 910 | +15.93% | +26.18% | -10.25% | -0.51B |
| 2023-09-30 | $1.92B | 939 | +5.22% | +21.57% | -16.35% | +0.30B |
| 2023-06-30 | $1.67B | 892 | +4.80% | +19.42% | -14.63% | -0.08B |
| 2023-03-31 | $1.70B | 982 | -17.42% | -7.82% | -9.61% | +0.05B |
| 2022-12-31 | $1.59B | 977 | +1.54% | +7.56% | -6.02% | +0.09B |
| 2022-09-30 | $1.48B | 1006 | -2.83% | -4.93% | +2.09% | +0.14B |
| 2022-06-30 | $1.38B | 941 | -19.17% | -16.11% | -3.06% | +0.47B |