Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.26%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.17%
baseline attrition
Rally response
-1.52%
trims into rallies
when a holding rises +10%+
Top positions · 11
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BNBrookfield Corporation | $2.42B | 17.6% | +16.5% | 2.0 yr |
| AMZNAmazon.com, Inc. | $2.39B | 17.4% | +9.5% | 1.0 yr |
| UBERUber Technologies, Inc. | $2.15B | 15.7% | -1.3% | 1.3 yr |
| MSFTMicrosoft Corporation | $2.09B | 15.3% | -0.6% | 0.3 yr |
| QSRRestaurant Brands Intern | $1.67B | 12.2% | +15.1% | 10.5 yr |
| METAMeta Platforms, Inc. | $1.52B | 11.1% | -0.4% | 0.5 yr |
| HHHHoward Hughes Holdings I | $1.19B | 8.7% | -14.6% | 2.8 yr |
| SEGSeaport Entertainment Gr | $108M | 0.8% | +0.0% | 1.8 yr |
| GOOGAlphabet Inc. | $89M | 0.7% | +84.3% | 3.3 yr |
| HTZHertz Global Holdings, I | $70M | 0.5% | +17.0% | 1.5 yr |
| GOOGLAlphabet Inc. | $9M | 0.1% | — | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.6%-0.4pp$2.42B
Specialty Retail17.4%$2.39B
Software - Application15.7%-2.8pp$2.15B
Software - Infrastructure15.3%$2.09B
Restaurants12.2%-9.7pp$1.67B
Internet Content & Information11.8%-2.2pp$1.62B
Real Estate - Diversified8.7%-3.0pp$1.19B
Real Estate - Services0.8%-0.1pp$108M
Rental & Leasing Services0.5%+0.0pp$70M
Country
US70.2%+9.8pp
CA29.8%-1.0pp
Top 5: 78.2% · Top 10: 99.9% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $13.71B | 11 | +6.49% | +17.59% | -11.10% | -0.23B |
| 2025-12-31 | $15.53B | 11 | +11.22% | +17.72% | -6.50% | +0.87B |
| 2025-09-30 | $14.64B | 11 | +12.58% | +17.52% | -4.94% | +0.19B |
| 2025-06-30 | $13.73B | 11 | +11.43% | +14.94% | -3.51% | +0.30B |
| 2025-03-31 | $11.93B | 11 | -0.66% | +8.30% | -8.96% | +0.06B |
| 2024-12-31 | $12.66B | 11 | +9.91% | +24.89% | -14.98% | -0.42B |
| 2024-09-30 | $12.92B | 11 | +23.96% | +36.04% | -12.08% | +2.07B |
| 2024-06-30 | $10.41B | 9 | +17.87% | +24.49% | -6.62% | -0.39B |
| 2024-03-31 | $10.76B | 7 | +29.98% | +29.62% | +0.36% | -0.03B |
| 2023-12-31 | $10.40B | 8 | +32.14% | +26.18% | +5.96% | -1.59B |
| 2023-09-30 | $10.49B | 8 | +28.04% | +21.57% | +6.48% | -0.22B |
| 2023-06-30 | $10.82B | 8 | +35.14% | +19.42% | +15.72% | -0.49B |
| 2023-03-31 | $10.22B | 8 | +2.90% | -7.82% | +10.72% | +0.95B |
| 2022-12-31 | $8.78B | 6 | +10.70% | +7.56% | +3.14% | +0.06B |
| 2022-09-30 | $7.88B | 6 | +4.56% | -4.93% | +9.49% | +0.07B |
| 2022-06-30 | $7.46B | 7 | -15.73% | -16.11% | +0.38% | -1.29B |