Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.19%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.62%
baseline attrition
Rally response
-2.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVONovo Nordisk A/S | $12M | 8.8% | -46.7% | 9.5 yr |
| AMZNAmazon.com, Inc. | $11M | 8.2% | +9.5% | 9.5 yr |
| MSFTMicrosoft Corporation | $8M | 6.2% | -0.6% | 9.5 yr |
| GOOGLAlphabet Inc. | $7M | 5.0% | — | 9.5 yr |
| GOOGAlphabet Inc. | $6M | 4.9% | +84.3% | 9.5 yr |
| MCOMoody's Corporation | $6M | 4.5% | -5.6% | 9.5 yr |
| PLABPhotronics, Inc. | $4M | 3.0% | +94.7% | 8.5 yr |
| PLPlanet Labs PBC | $3M | 2.2% | +726.9% | 3.0 yr |
| AEHRAehr Test Systems | $3M | 2.2% | +408.6% | 2.3 yr |
| SASeabridge Gold Inc. | $3M | 2.1% | +142.8% | 9.5 yr |
| VETVermilion Energy Inc. | $3M | 2.1% | +77.8% | 8.5 yr |
| PRTAProthena Corporation plc | $3M | 2.0% | -21.5% | 0.3 yr |
| VMDViemed Healthcare, Inc. | $3M | 1.9% | +26.5% | 3.3 yr |
| — | $2M | 1.7% | — | 1.5 yr |
| — | $2M | 1.7% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology11.4%-5.4pp$15M
Internet Content & Information10.7%+4.3pp$14M
Semiconductors8.2%+4.0pp$11M
Specialty Retail8.2%+0.7pp$11M
Software - Infrastructure6.7%-0.9pp$9M
Oil & Gas Midstream6.1%-0.7pp$8M
Asset Management5.7%-1.1pp$8M
Financial - Data & Stock Exchanges4.5%-0.3pp$6M
Unknown4.4%-2.3pp$6M
Software - Application3.2%+1.0pp$4M
Country
US77.2%+6.4pp
DK8.8%-7.5pp
CA4.8%+2.5pp
Unknown4.4%-2.3pp
IE2.0%
JP1.1%-0.2pp
GB0.7%-0.4pp
CH0.6%+0.2pp
Top 5: 33.1% · Top 10: 47.1% · Top 25: 69.4%
Top buys this quarter · 15
| PRTA Prothena Corporation plcnew | +$3M |
| EXTR Extreme Networks, Inc.new | +$1M |
| CYRX Cryoport, Inc. | +$1M |
| CURI CuriosityStream Inc. | +$1M |
| MGNI Magnite, Inc. | +$1M |
| BX Blackstone Inc. | +$2M |
| PAR PAR Technology Corporation | +$0M |
| PAYS PaySign, Inc. | +$0M |
| DX Dynex Capital, Inc.new | +$0M |
| PROF Profound Medical Corp.new | +$0M |
Top sells this quarter · 15
| PL Planet Labs PBC | −$5M |
| AEHR Aehr Test Systems | −$2M |
| COHU Cohu, Inc.exit | −$1M |
| SYF Synchrony Financialexit | −$1M |
| BPOP Popular, Inc. | −$1M |
| PLAB Photronics, Inc. | −$4M |
| FNF Fidelity National Financial, I | −$1M |
| FBP First BanCorp. | −$0M |
| ACLS Axcelis Technologies, Inc. | −$0M |
| GPN Global Payments Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $132M | 93 | +14.61% | +17.59% | -2.98% | -0.01B |
| 2025-12-31 | $145M | 97 | +6.86% | +17.72% | -10.85% | -0.00B |
| 2025-09-30 | $143M | 104 | -0.15% | +17.52% | -17.67% | -0.00B |
| 2025-06-30 | $140M | 111 | -8.60% | +14.94% | -23.54% | -0.01B |
| 2025-03-31 | $132M | 107 | -13.44% | +8.30% | -21.74% | -0.00B |
| 2024-12-31 | $147M | 110 | +6.48% | +24.89% | -18.41% | +0.00B |
| 2024-09-30 | $154M | 104 | +24.26% | +36.04% | -11.78% | -0.00B |
| 2024-06-30 | $164M | 101 | +23.73% | +24.49% | -0.76% | -0.00B |
| 2024-03-31 | $161M | 102 | +22.37% | +29.62% | -7.26% | -0.00B |
| 2023-12-31 | $149M | 102 | +13.31% | +26.18% | -12.87% | -0.00B |
| 2023-09-30 | $136M | 99 | -5.62% | +21.57% | -27.19% | +0.00B |
| 2023-06-30 | $138M | 98 | -12.46% | +19.42% | -31.89% | +0.01B |
| 2023-03-31 | $127M | 94 | -29.28% | -7.82% | -21.46% | +0.01B |
| 2022-12-31 | $117M | 95 | -34.65% | -18.17% | -16.48% | +0.01B |
| 2022-09-30 | $116M | 99 | -21.26% | -15.51% | -5.75% | +0.00B |
| 2022-06-30 | $127M | 106 | -11.32% | -10.62% | -0.70% | -0.00B |