Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.86%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.12%
steady accumulation
Rally response
-5.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MTNVail Resorts, Inc. | $268M | 36.8% | -16.1% | 1.0 yr |
| HUT.TOHut 8 Mining Corp. | $118M | 16.1% | +290.2% | 1.0 yr |
| VNETVNET Group, Inc. | $39M | 5.3% | +2.3% | 5.0 yr |
| CORZCore Scientific, Inc. | $35M | 4.8% | +106.6% | 0.5 yr |
| STRSStratus Properties Inc. | $35M | 4.7% | +71.9% | 9.8 yr |
| APLDApplied Digital Corporat | $25M | 3.4% | +322.4% | 4.0 yr |
| — | $18M | 2.4% | — | 2.8 yr |
| GDSGDS Holdings Limited | $17M | 2.3% | +59.1% | 0.3 yr |
| EDUNew Oriental Education & | $17M | 2.3% | +19.8% | 2.0 yr |
| RLXRLX Technology Inc. | $14M | 2.0% | +22.2% | 4.5 yr |
| GCTGigaCloud Technology Inc | $14M | 1.9% | +219.6% | 1.5 yr |
| PDDPDD Holdings Inc. | $12M | 1.6% | -13.7% | 1.3 yr |
| ACMRACM Research, Inc. | $11M | 1.5% | +68.6% | 5.3 yr |
| WENThe Wendy's Company | $11M | 1.4% | -49.5% | 0.5 yr |
| TBPHTheravance Biopharma, In | $9M | 1.3% | +81.7% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Gambling, Resorts & Casinos36.8%$268M
Financial - Capital Markets16.7%+15.9pp$122M
Information Technology Services11.0%-15.4pp$80M
Software - Infrastructure6.9%+4.9pp$50M
Real Estate - Diversified4.7%-2.1pp$35M
Unknown3.9%-2.8pp$29M
Specialty Retail2.7%-3.7pp$20M
Education & Training Services2.3%-2.9pp$17M
Semiconductors2.0%-5.5pp$15M
Tobacco2.0%-1.7pp$14M
Country
US55.6%+15.5pp
CN19.6%-21.4pp
CA16.2%
Unknown3.9%-2.8pp
IE1.6%+0.7pp
KY1.3%-2.1pp
AU0.7%+0.5pp
HK0.6%-0.2pp
Top 5: 67.8% · Top 10: 80.1% · Top 25: 95.5%
Top buys this quarter · 15
| MTN Vail Resorts, Inc. | +$30M |
| GDS GDS Holdings Limitednew | +$17M |
| HUT.TO Hut 8 Mining Corp. | +$13M |
| WEN The Wendy's Company | +$10M |
| VNET VNET Group, Inc. | +$10M |
| PDD PDD Holdings Inc. | +$9M |
| TDAY USA TODAY Co., Inc.new | +$9M |
| EDU New Oriental Education & Techn | +$8M |
| APLD Applied Digital Corporation | +$7M |
| AVR Anteris Technologies Global Co | +$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $729M | 70 | +0.86% | +17.59% | -16.73% | +0.08B |
| 2025-12-31 | $654M | 66 | -0.13% | +17.72% | -17.85% | +0.22B |
| 2025-09-30 | $454M | 68 | +1.79% | +17.52% | -15.72% | +0.02B |
| 2025-06-30 | $417M | 61 | +19.69% | +14.94% | +4.75% | +0.12B |
| 2025-03-31 | $295M | 56 | +25.04% | +8.30% | +16.74% | +0.01B |
| 2024-12-31 | $291M | 53 | -3.62% | +24.89% | -28.51% | +0.03B |
| 2024-09-30 | $266M | 42 | +5.11% | +36.04% | -30.93% | -0.09B |
| 2024-06-30 | $295M | 38 | -22.50% | +24.49% | -46.99% | +0.00B |
| 2024-03-31 | $276M | 34 | -30.49% | +29.62% | -60.11% | +0.05B |
| 2023-12-31 | $295M | 35 | +10.43% | +26.18% | -15.75% | -0.10B |
| 2023-09-30 | $372M | 45 | +21.75% | +21.57% | +0.18% | +0.12B |
| 2023-06-30 | $287M | 45 | +14.83% | +19.42% | -4.60% | -0.15B |
| 2023-03-31 | $461M | 46 | +4.18% | -7.82% | +12.00% | +0.00B |
| 2022-12-31 | $378M | 74 | +18.54% | +7.56% | +10.97% | -0.19B |
| 2022-09-30 | $481M | 93 | -15.45% | -4.93% | -10.53% | +0.12B |
| 2022-06-30 | $424M | 91 | -14.07% | -16.11% | +2.04% | +0.02B |