Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.98%
baseline attrition
Rally response
-0.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ARISAris Mining Corporation | $65M | 10.0% | +300.2% | 1.0 yr |
| CELCCelcuity Inc. | $59M | 9.1% | +1029.0% | 0.8 yr |
| GTXGarrett Motion Inc. | $48M | 7.5% | +121.3% | 5.0 yr |
| SSRMSSR Mining Inc. | $41M | 6.3% | +193.1% | 1.0 yr |
| SNDKSandisk Corporation | $31M | 4.8% | +1234.5% | 0.8 yr |
| WDCWestern Digital Corporat | $30M | 4.6% | +571.9% | 0.8 yr |
| SIMOSilicon Motion Technolog | $28M | 4.3% | +127.9% | 5.5 yr |
| TLNTalen Energy Corporation | $26M | 3.9% | +59.9% | 1.8 yr |
| STXSeagate Technology Holdi | $23M | 3.6% | +366.3% | 1.0 yr |
| TPBTurning Point Brands, In | $22M | 3.4% | +46.5% | 1.8 yr |
| CLBTCellebrite DI Ltd. | $19M | 2.9% | -29.1% | 2.0 yr |
| LASRnLIGHT, Inc. | $19M | 2.9% | +633.8% | 1.0 yr |
| SNSharkNinja, Inc. | $18M | 2.8% | +27.0% | 2.3 yr |
| VISTVista Energy, S.A.B. de | $17M | 2.7% | +62.1% | 0.3 yr |
| TOSTToast, Inc. | $17M | 2.6% | -20.1% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology18.9%+13.8pp$122M
Semiconductors12.1%+4.9pp$79M
Other Precious Metals10.0%$65M
Computer Hardware8.2%+6.2pp$53M
Auto - Parts7.5%+6.7pp$48M
Gold6.4%$41M
Software - Infrastructure5.5%-0.5pp$36M
Hardware, Equipment & Parts5.4%+2.3pp$35M
Independent Power Producers3.9%-7.0pp$26M
Coal3.9%-2.5pp$25M
Country
US65.3%-17.6pp
CA10.6%+8.3pp
CH7.5%+6.7pp
HK4.3%+0.3pp
SG3.6%+1.2pp
IL2.9%-0.0pp
MX2.7%
FR2.2%+1.7pp
Top 5: 37.7% · Top 10: 57.5% · Top 25: 90.9%
Top buys this quarter · 15
| VIST Vista Energy, S.A.B. de C.V.new | +$17M |
| BKD Brookdale Senior Living Inc.new | +$13M |
| VVX V2X, Inc.new | +$13M |
| ON ON Semiconductor Corporationnew | +$12M |
| TOST Toast, Inc. | +$10M |
| PVLA Palvella Therapeutics, Inc. | +$10M |
| ANAB AnaptysBio, Inc.new | +$9M |
| GTX Garrett Motion Inc. | +$8M |
| TPB Turning Point Brands, Inc. | +$8M |
| CLBT Cellebrite DI Ltd. | +$8M |
Top sells this quarter · 15
| SNDK Sandisk Corporation | −$28M |
| NGD New Gold Inc.exit | −$26M |
| WDC Western Digital Corporation | −$19M |
| ANIP ANI Pharmaceuticals, Inc.exit | −$15M |
| STX Seagate Technology Holdings pl | −$13M |
| CELC Celcuity Inc. | −$10M |
| APLS Apellis Pharmaceuticals, Inc.exit | −$8M |
| MGNI Magnite, Inc.exit | −$7M |
| CLS Celestica Inc.exit | −$7M |
| TVTX Travere Therapeutics, Inc.exit | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $648M | 52 | +129.97% | +17.59% | +112.38% | -0.02B |
| 2025-12-31 | $574M | 43 | +73.72% | +17.72% | +56.01% | +0.02B |
| 2025-09-30 | $453M | 49 | +53.56% | +17.52% | +36.04% | +0.08B |
| 2025-06-30 | $282M | 42 | +24.61% | +14.94% | +9.67% | +0.03B |
| 2025-03-31 | $207M | 42 | +12.99% | +8.30% | +4.69% | +0.08B |
| 2024-12-31 | $150M | 29 | +46.14% | +24.89% | +21.26% | -0.01B |
| 2024-09-30 | $144M | 33 | +40.75% | +36.04% | +4.71% | -0.00B |
| 2024-06-30 | $136M | 36 | +24.51% | +24.49% | +0.01% | -0.01B |
| 2024-03-31 | $132M | 36 | +16.67% | +29.62% | -12.95% | +0.02B |
| 2023-12-31 | $95M | 27 | +11.39% | +26.18% | -14.78% | +0.01B |
| 2023-09-30 | $77M | 23 | +11.59% | +21.57% | -9.98% | -0.02B |
| 2023-06-30 | $99M | 30 | +12.43% | +19.42% | -6.99% | +0.00B |
| 2023-03-31 | $94M | 24 | -1.58% | -7.82% | +6.24% | +0.00B |
| 2022-12-31 | $86M | 27 | +4.85% | +7.56% | -2.71% | +0.02B |
| 2022-09-30 | $67M | 25 | -4.06% | -4.93% | +0.87% | -0.02B |
| 2022-06-30 | $86M | 28 | -9.71% | -16.11% | +6.40% | +0.01B |