Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.95%
baseline attrition
Rally response
-18.77%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GLDSPDR Gold Shares | $19M | 1.5% | — | 9.3 yr |
| BHFBrighthouse Financial, I | $18M | 1.4% | +3.3% | 6.3 yr |
| NVDANVIDIA Corporation | $17M | 1.3% | +60.9% | 8.8 yr |
| PENPenumbra, Inc. | $16M | 1.2% | +22.8% | 4.8 yr |
| MUMicron Technology, Inc. | $15M | 1.2% | +289.6% | 9.0 yr |
| METAMeta Platforms, Inc. | $15M | 1.2% | -0.4% | 9.8 yr |
| CWANClearwater Analytics Hol | $15M | 1.1% | -11.8% | 2.5 yr |
| NSCNorfolk Southern Corpora | $15M | 1.1% | +23.6% | 4.5 yr |
| WBDWarner Bros. Discovery, | $14M | 1.1% | +155.9% | 2.5 yr |
| AMZNAmazon.com, Inc. | $14M | 1.1% | +9.5% | 9.5 yr |
| GTLSChart Industries, Inc. | $12M | 0.9% | +43.2% | 1.8 yr |
| TXNMTXNM Energy, Inc. | $12M | 0.9% | +12.5% | 6.3 yr |
| STXSeagate Technology Holdi | $11M | 0.9% | +366.3% | 2.3 yr |
| ACLXArcellx, Inc. | $11M | 0.9% | — | 0.5 yr |
| VSNTVVersant Media Group, Inc | $10M | 0.8% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Application7.7%+2.6pp$100M
Asset Management7.3%-0.4pp$96M
Semiconductors6.3%+3.3pp$82M
Biotechnology5.9%+0.9pp$77M
Unknown3.8%+1.2pp$50M
Internet Content & Information3.0%-1.0pp$39M
Entertainment2.7%+2.0pp$35M
Software - Infrastructure2.5%-1.7pp$33M
Specialty Retail2.2%+0.3pp$29M
Hardware, Equipment & Parts2.0%+1.2pp$26M
Country
US85.1%+1.4pp
Unknown3.8%+1.2pp
GB2.0%+0.3pp
CA1.9%-1.5pp
IL1.5%+1.0pp
SG1.0%-0.2pp
BM1.0%+0.0pp
CN0.6%-1.8pp
Top 5: 6.6% · Top 10: 12.2% · Top 25: 23.3%
Top buys this quarter · 15
| PEN Penumbra, Inc. | +$15M |
| CWAN Clearwater Analytics Holdings, | +$13M |
| META Meta Platforms, Inc. | +$12M |
| APPN Appian Corporation | +$9M |
| AMZN Amazon.com, Inc. | +$8M |
| WBS Webster Financial Corporation | +$7M |
| WDAY Workday, Inc. | +$6M |
| COHR Coherent, Inc. | +$6M |
| MNDY monday.com Ltd. | +$6M |
| GTLS Chart Industries, Inc. | +$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.30B | 1161 | +39.97% | +17.59% | +22.37% | -0.08B |
| 2025-12-31 | $1.35B | 1250 | +28.07% | +17.72% | +10.35% | +0.01B |
| 2025-09-30 | $1.27B | 1106 | +26.00% | +17.52% | +8.48% | +0.10B |
| 2025-06-30 | $1.02B | 967 | +20.57% | +14.94% | +5.62% | -0.10B |
| 2025-03-31 | $992M | 1053 | +4.55% | +8.30% | -3.75% | -0.12B |
| 2024-12-31 | $1.19B | 1046 | +20.99% | +24.89% | -3.89% | -0.16B |
| 2024-09-30 | $1.30B | 1132 | +28.97% | +36.04% | -7.07% | -0.01B |
| 2024-06-30 | $1.19B | 1083 | +13.19% | +24.49% | -11.30% | -0.24B |
| 2024-03-31 | $1.46B | 1164 | +21.55% | +29.62% | -8.07% | +0.22B |
| 2023-12-31 | $1.15B | 965 | +21.79% | +26.18% | -4.39% | -0.07B |
| 2023-09-30 | $1.10B | 954 | +14.88% | +21.57% | -6.68% | -0.05B |
| 2023-06-30 | $1.20B | 959 | +14.23% | +19.42% | -5.20% | -0.33B |
| 2023-03-31 | $1.46B | 1025 | -11.41% | -7.82% | -3.60% | -0.29B |
| 2022-12-31 | $1.61B | 1116 | +4.98% | +7.56% | -2.58% | -0.46B |
| 2022-09-30 | $1.97B | 1415 | -4.42% | -4.93% | +0.51% | +0.05B |
| 2022-06-30 | $2.00B | 1528 | -18.47% | -16.11% | -2.36% | +0.29B |