Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.43%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.97%
baseline attrition
Rally response
-18.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IWMiShares Russell 2000 ETF | $5M | 4.7% | — | 6.0 yr |
| QQQInvesco QQQ Trust, Serie | $5M | 4.4% | — | 0.3 yr |
| CSTMConstellium SE | $4M | 4.2% | +143.6% | 6.3 yr |
| TNLTravel + Leisure Co. | $4M | 3.4% | +55.0% | 5.3 yr |
| FLEXFlex Ltd. | $3M | 3.1% | +97.9% | 5.5 yr |
| AKAMAkamai Technologies, Inc | $3M | 2.9% | +42.7% | 0.3 yr |
| GXOGXO Logistics, Inc. | $3M | 2.8% | +32.7% | 4.0 yr |
| STRKMicroStrategy Incorporat | $3M | 2.5% | -8.0% | 1.3 yr |
| PRMBPrimo Brands Corporation | $2M | 2.3% | -45.9% | 1.0 yr |
| SPXXNuveen S&P 500 Dynamic O | $2M | 2.0% | — | 1.5 yr |
| ZIZoomInfo Technologies In | $2M | 1.9% | — | 1.5 yr |
| — | $2M | 1.9% | — | 0.8 yr |
| FLSFlowserve Corporation | $2M | 1.9% | +52.2% | 1.3 yr |
| YETIYETI Holdings, Inc. | $2M | 1.8% | +10.5% | 1.0 yr |
| GDXVanEck Gold Miners ETF | $2M | 1.8% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management21.0%+12.1pp$22M
Unknown6.4%-0.3pp$7M
Software - Application5.9%-7.4pp$6M
Software - Infrastructure5.8%+4.5pp$6M
Hardware, Equipment & Parts5.2%+0.5pp$5M
Asset Management - Income4.5%+2.7pp$5M
Aluminum4.2%+0.6pp$4M
Semiconductors3.9%-0.5pp$4M
Communication Equipment3.9%+3.1pp$4M
Specialty Retail3.8%+0.6pp$4M
Country
US81.5%+0.2pp
Unknown6.4%-0.3pp
FR4.2%+0.6pp
SG3.1%-0.1pp
GB1.4%-0.6pp
CA0.9%
CN0.8%-1.1pp
IL0.6%
Top 5: 19.8% · Top 10: 32.3% · Top 25: 57.3%
Top buys this quarter · 15
| AKAM Akamai Technologies, Inc.new | +$3M |
| REZI Resideo Technologies, Inc.new | +$2M |
| ORCL Oracle Corporation | +$1M |
| FIS Fidelity National Information new | +$1M |
| LITE Lumentum Holdings Inc.new | +$1M |
| META Meta Platforms, Inc. | +$1M |
| XZO Exzeo Group, Inc. | +$1M |
| SARO StandardAero, Inc.new | +$1M |
| W Wayfair Inc.new | +$1M |
| JHG Janus Henderson Group plcnew | +$1M |
Top sells this quarter · 15
| APP AppLovin Corporation | −$16M |
| ATMU Atmus Filtration Technologies exit | −$3M |
| COHR Coherent, Inc.exit | −$2M |
| CFLT Confluent, Inc.exit | −$2M |
| SNX TD SYNNEX Corporationexit | −$2M |
| MU Micron Technology, Inc. | −$1M |
| MSFT Microsoft Corporationexit | −$1M |
| CSTM Constellium SE | −$4M |
| GMED Globus Medical, Inc. | −$1M |
| GBTG Global Business Travel Group, exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $105M | 137 | +65.14% | +17.59% | +47.54% | -0.01B |
| 2025-12-31 | $90M | 115 | +30.18% | +17.72% | +12.46% | -0.00B |
| 2025-09-30 | $87M | 88 | +20.59% | +17.52% | +3.08% | +0.01B |
| 2025-06-30 | $72M | 101 | +23.61% | +14.94% | +8.67% | -0.00B |
| 2025-03-31 | $62M | 83 | -0.88% | +8.30% | -9.18% | -0.01B |
| 2024-12-31 | $75M | 69 | +11.08% | +24.89% | -13.81% | -0.04B |
| 2024-09-30 | $119M | 90 | +16.16% | +36.04% | -19.88% | -0.03B |
| 2024-06-30 | $132M | 104 | +0.69% | +24.49% | -23.80% | +0.01B |
| 2024-03-31 | $127M | 101 | +15.26% | +29.62% | -14.36% | -0.04B |
| 2023-12-31 | $156M | 126 | +12.40% | +26.18% | -13.77% | -0.07B |
| 2023-09-30 | $216M | 176 | +23.61% | +21.57% | +2.04% | -2.18B |
| 2023-06-30 | $2.51B | 196 | +12.58% | +19.42% | -6.84% | +1.48B |
| 2023-03-31 | $962M | 264 | -16.90% | -7.82% | -9.09% | +0.55B |
| 2022-12-31 | $391M | 262 | -23.80% | -18.17% | -5.62% | +0.04B |
| 2022-09-30 | $311M | 339 | -14.24% | -15.51% | +1.27% | -0.05B |
| 2022-06-30 | $420M | 307 | -21.51% | -16.11% | -5.40% | +0.00B |