Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.76%
baseline attrition
Rally response
-12.03%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VVisa Inc. | $700M | 12.3% | -13.1% | 1.8 yr |
| AMZNAmazon.com, Inc. | $601M | 10.5% | +9.5% | 1.5 yr |
| CRMSalesforce, Inc. | $559M | 9.8% | -30.2% | 3.5 yr |
| BLKBlackRock, Inc. | $525M | 9.2% | +3.7% | 0.5 yr |
| METAMeta Platforms, Inc. | $524M | 9.2% | -0.4% | 1.8 yr |
| RKTRocket Companies, Inc. | $402M | 7.0% | +18.1% | 1.8 yr |
| TOSTToast, Inc. | $342M | 6.0% | -20.1% | 1.5 yr |
| — | $335M | 5.9% | — | 0.5 yr |
| RBLXRoblox Corporation | $331M | 5.8% | -3.0% | 2.8 yr |
| KKRKKR & Co. Inc. | $303M | 5.3% | -19.5% | 6.0 yr |
| MDBMongoDB, Inc. | $254M | 4.4% | +39.5% | 1.0 yr |
| SSDSimpson Manufacturing Co | $240M | 4.2% | +9.8% | 1.0 yr |
| SPOTSpotify Technology S.A. | $174M | 3.0% | -11.8% | 1.8 yr |
| LLYVALiberty Live Group | $163M | 2.9% | — | 0.5 yr |
| LYVLive Nation Entertainmen | $95M | 1.7% | +16.8% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.5%$829M
Financial - Credit Services12.3%+2.2pp$700M
Internet Content & Information12.2%-0.6pp$698M
Software - Infrastructure12.1%+10.2pp$690M
Specialty Retail10.5%+8.2pp$601M
Software - Application9.8%-7.2pp$559M
Financial - Mortgages7.0%+5.3pp$402M
Unknown5.9%+3.4pp$335M
Electronic Gaming & Multimedia5.8%-5.4pp$331M
Entertainment5.2%-17.3pp$297M
Country
US89.4%-7.4pp
Unknown5.9%+3.4pp
LU3.0%
IL1.6%
Top 5: 50.9% · Top 10: 80.9% · Top 25: 100.0%
Top buys this quarter · 4
| KKR KKR & Co. Inc. | +$192M |
| V Visa Inc. | +$181M |
| TOST Toast, Inc. | +$129M |
| WIX Wix.com Ltd.new | +$99M |
Top sells this quarter · 13
| LLYVA Liberty Live Group | −$147M |
| — | −$300M |
| DIS The Walt Disney Company | −$258M |
| RKT Rocket Companies, Inc. | −$159M |
| SPOT Spotify Technology S.A. | −$154M |
| BLK BlackRock, Inc. | −$143M |
| AMZN Amazon.com, Inc. | −$106M |
| MDB MongoDB, Inc. | −$90M |
| NSIT Insight Enterprises, Inc.exit | −$82M |
| META Meta Platforms, Inc. | −$76M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.71B | 18 | +0.87% | +17.59% | -16.72% | -0.13B |
| 2025-12-31 | $7.03B | 16 | +11.36% | +17.72% | -6.36% | +1.16B |
| 2025-09-30 | $5.93B | 16 | +25.75% | +17.52% | +8.23% | +0.19B |
| 2025-06-30 | $5.60B | 18 | +32.34% | +14.94% | +17.40% | +0.12B |
| 2025-03-31 | $4.58B | 14 | +4.68% | +8.30% | -3.62% | +0.55B |
| 2024-12-31 | $4.39B | 12 | +25.44% | +24.89% | +0.55% | -0.50B |
| 2024-09-30 | $4.37B | 11 | +42.01% | +36.04% | +5.97% | +0.54B |
| 2024-06-30 | $3.56B | 10 | +33.74% | +24.49% | +9.25% | -0.74B |
| 2024-03-31 | $4.54B | 12 | +48.09% | +29.62% | +18.47% | -0.95B |
| 2023-12-31 | $5.00B | 14 | +58.43% | +26.18% | +32.25% | -0.64B |
| 2023-09-30 | $4.45B | 12 | +36.47% | +21.57% | +14.91% | -2.08B |
| 2023-06-30 | $6.43B | 9 | +21.62% | +19.42% | +2.19% | -0.01B |
| 2023-03-31 | $6.14B | 9 | -4.81% | -7.82% | +3.01% | -0.11B |
| 2022-12-31 | $5.31B | 9 | +8.99% | +7.56% | +1.42% | -1.12B |
| 2022-09-30 | $5.90B | 12 | -9.53% | -4.93% | -4.60% | +0.23B |
| 2022-06-30 | $6.27B | 16 | -17.96% | -16.11% | -1.85% | +0.31B |