Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.37%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.19%
baseline attrition
Rally response
-36.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $122M | 3.9% | +60.9% | 4.5 yr |
| CWANClearwater Analytics Hol | $86M | 2.7% | -11.8% | 0.8 yr |
| OSOneStream, Inc. Class A | $71M | 2.2% | +12.5% | 0.3 yr |
| TPHTri Pointe Homes, Inc. | $67M | 2.1% | +46.4% | 0.8 yr |
| EAElectronic Arts Inc. | $66M | 2.1% | +41.7% | 2.0 yr |
| VREVeris Residential, Inc. | $51M | 1.6% | +13.3% | 0.8 yr |
| SEESealed Air Corporation | $51M | 1.6% | +48.7% | 2.5 yr |
| AMZNAmazon.com, Inc. | $50M | 1.6% | +9.5% | 4.3 yr |
| HOLXHologic, Inc. | $44M | 1.4% | +22.4% | 0.8 yr |
| MASIMasimo Corporation | $41M | 1.3% | +6.8% | 0.5 yr |
| — | $41M | 1.3% | — | 1.5 yr |
| TERNTerns Pharmaceuticals, I | $38M | 1.2% | — | 1.3 yr |
| TSLATesla, Inc. | $37M | 1.2% | +43.4% | 2.8 yr |
| WBSWebster Financial Corpor | $37M | 1.2% | +38.5% | 1.3 yr |
| — | $35M | 1.1% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Unknown25.7%+4.9pp$811M
Shell Companies11.3%+6.0pp$356M
Semiconductors7.3%+1.7pp$230M
Software - Application5.3%+2.6pp$167M
Banks - Regional4.5%$142M
Asset Management4.1%-4.6pp$131M
Financial - Conglomerates4.1%+4.1pp$128M
Biotechnology2.6%+0.5pp$82M
Residential Construction2.1%$67M
Electronic Gaming & Multimedia2.1%+1.4pp$66M
Country
US66.1%+6.6pp
Unknown25.7%+5.3pp
KY3.0%+1.8pp
CA1.8%-7.9pp
TW1.0%+0.7pp
GB0.6%-0.1pp
HK0.3%+0.1pp
FI0.3%
Top 5: 13.0% · Top 10: 20.5% · Top 25: 34.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $12M | +0.01B | 60.9% |
| TSM | $7M | +0.01B | 105.6% |
| EA | $10M | +0.00B | 41.7% |
| NSC | $2M | +0.00B | 23.6% |
| CNI | $4M | +0.00B | 8.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| OS OneStream, Inc. Class A Commonnew | +$71M |
| TPH Tri Pointe Homes, Inc. | +$63M |
| CWAN Clearwater Analytics Holdings, | +$52M |
| VRE Veris Residential, Inc. | +$51M |
| SEE Sealed Air Corporation | +$50M |
| MASI Masimo Corporation | +$34M |
| WBS Webster Financial Corporation | +$33M |
| SEM Select Medical Holdings Corpornew | +$23M |
| CTRA Coterra Energy Inc. | +$20M |
| OXLC Oxford Lane Capital Corp.new | +$20M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$96M |
| PLTR Palantir Technologies Inc.exit | −$82M |
| COP ConocoPhillipsexit | −$73M |
| GOOG Alphabet Inc.exit | −$69M |
| ADI Analog Devices, Inc. | −$65M |
| EXAS Exact Sciences Corporationexit | −$55M |
| AMD Advanced Micro Devices, Inc. | −$48M |
| AAPL Apple Inc.exit | −$38M |
| ADBE Adobe Inc.exit | −$36M |
| WDC Western Digital Corporation | −$32M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.16B | 638 | +31.99% | +17.59% | +14.40% | -0.84B |
| 2025-12-31 | $3.94B | 598 | +23.36% | +17.72% | +5.64% | +0.28B |
| 2025-09-30 | $3.47B | 593 | +24.58% | +17.52% | +7.06% | +0.12B |
| 2025-06-30 | $3.00B | 541 | +20.98% | +14.94% | +6.03% | +0.60B |
| 2025-03-31 | $2.17B | 459 | +12.13% | +8.30% | +3.82% | -2.72B |
| 2024-12-31 | $5.15B | 597 | +28.28% | +24.89% | +3.40% | +2.09B |
| 2024-09-30 | $2.88B | 653 | +37.78% | +36.04% | +1.74% | +0.09B |
| 2024-06-30 | $2.58B | 638 | +20.03% | +24.49% | -4.46% | -0.32B |
| 2024-03-31 | $2.82B | 699 | +28.60% | +29.62% | -1.03% | -0.21B |
| 2023-12-31 | $2.80B | 683 | +31.36% | +26.18% | +5.18% | -1.05B |
| 2023-09-30 | $3.37B | 796 | +24.92% | +21.57% | +3.35% | -0.41B |
| 2023-06-30 | $4.00B | 892 | +31.30% | +19.42% | +11.88% | -0.75B |
| 2023-03-31 | $4.32B | 952 | -4.20% | -7.82% | +3.62% | -1.83B |
| 2022-12-31 | $5.55B | 1134 | -17.61% | -18.17% | +0.56% | -0.87B |
| 2022-09-30 | $5.92B | 1300 | -15.62% | -15.51% | -0.12% | +0.05B |
| 2022-06-30 | $5.90B | 1265 | -14.64% | -10.62% | -4.02% | +1.58B |