Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.21%
trims when stocks drop
when a holding falls −10%+
Middle response
-14.80%
baseline attrition
Rally response
-5.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SNDKSandisk Corporation | $117M | 6.1% | +1234.5% | 0.3 yr |
| — | $113M | 5.9% | — | 3.0 yr |
| MUMicron Technology, Inc. | $93M | 4.8% | +289.6% | 4.0 yr |
| ONON Semiconductor Corpora | $87M | 4.5% | +52.2% | 0.3 yr |
| — | $85M | 4.4% | — | 1.5 yr |
| CARAvis Budget Group, Inc. | $80M | 4.2% | +92.2% | 0.3 yr |
| TVGrupo Televisa, S.A.B. | $65M | 3.4% | +73.2% | 3.8 yr |
| LRCXLam Research Corporation | $64M | 3.3% | +196.1% | 0.5 yr |
| IRENIREN Limited | $63M | 3.3% | +462.9% | 1.5 yr |
| — | $60M | 3.1% | — | 1.0 yr |
| IFSIntercorp Financial Serv | $53M | 2.8% | +56.5% | 3.8 yr |
| VNETVNET Group, Inc. | $50M | 2.6% | +2.3% | 2.0 yr |
| COFCapital One Financial Co | $49M | 2.5% | +3.1% | 1.5 yr |
| SATSEchoStar Corporation | $48M | 2.5% | +357.7% | 0.8 yr |
| BAPCredicorp Ltd. | $48M | 2.5% | +92.5% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.4%+13.9pp$277M
Unknown14.0%+7.8pp$270M
Banks - Diversified6.5%+5.1pp$125M
Hardware, Equipment & Parts6.1%$117M
Banks - Regional5.9%-2.7pp$114M
Rental & Leasing Services4.7%+3.1pp$91M
Software - Application4.3%+1.0pp$83M
Information Technology Services3.5%$68M
Telecommunications Services3.4%-1.1pp$65M
Financial - Capital Markets3.3%+0.1pp$63M
Country
US58.6%+7.7pp
Unknown14.0%+7.8pp
MX5.8%-6.5pp
PE5.2%+3.8pp
AR4.2%-2.4pp
AU3.3%+1.3pp
CN2.7%+1.7pp
GB1.8%-5.3pp
Top 5: 25.8% · Top 10: 43.0% · Top 25: 74.2%
Top buys this quarter · 15
| SNDK Sandisk Corporationnew | +$117M |
| ON ON Semiconductor Corporationnew | +$87M |
| CAR Avis Budget Group, Inc.new | +$80M |
| MU Micron Technology, Inc. | +$58M |
| IFS Intercorp Financial Services I | +$38M |
| LRCX Lam Research Corporation | +$31M |
| SATS EchoStar Corporation | +$28M |
| NU Nu Holdings Ltd. | +$26M |
| ULTA Ulta Beauty, Inc.new | +$24M |
| COMP Compass, Inc. | +$22M |
Top sells this quarter · 15
| TER Teradyne, Inc. | −$189M |
| AMKR Amkor Technology, Inc.exit | −$118M |
| COHR Coherent, Inc.exit | −$78M |
| GDS GDS Holdings Limitedexit | −$58M |
| LITE Lumentum Holdings Inc.exit | −$44M |
| EAT Brinker International, Inc.exit | −$36M |
| TTWO Take-Two Interactive Software,exit | −$27M |
| AMD Advanced Micro Devices, Inc.exit | −$27M |
| AVGO Broadcom Inc.exit | −$26M |
| IREN IREN Limited | −$26M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.92B | 77 | +35.41% | +17.59% | +17.82% | +0.08B |
| 2025-12-31 | $1.85B | 88 | +31.30% | +17.72% | +13.59% | +0.00B |
| 2025-09-30 | $1.82B | 86 | +49.57% | +17.52% | +32.05% | +0.30B |
| 2025-06-30 | $1.27B | 72 | +41.19% | +14.94% | +26.24% | +0.33B |
| 2025-03-31 | $836M | 56 | +31.43% | +8.30% | +23.12% | -0.58B |
| 2024-12-31 | $1.47B | 77 | +52.71% | +24.89% | +27.82% | +0.52B |
| 2024-09-30 | $819M | 59 | +42.11% | +36.04% | +6.07% | -0.03B |
| 2024-06-30 | $754M | 51 | +22.16% | +24.49% | -2.33% | -0.02B |
| 2024-03-31 | $736M | 52 | +24.96% | +29.62% | -4.66% | -0.01B |
| 2023-12-31 | $661M | 49 | +19.09% | +26.18% | -7.09% | +0.07B |
| 2023-09-30 | $554M | 39 | +18.34% | +21.57% | -3.23% | -0.28B |
| 2023-06-30 | $857M | 53 | +20.25% | +19.42% | +0.82% | +0.06B |
| 2023-03-31 | $740M | 44 | -14.49% | -7.82% | -6.67% | +0.02B |
| 2022-12-31 | $674M | 47 | +6.68% | +7.56% | -0.88% | -0.01B |
| 2022-09-30 | $639M | 46 | -1.70% | -4.93% | +3.23% | -0.10B |
| 2022-06-30 | $751M | 54 | -23.82% | -16.11% | -7.71% | -0.06B |