Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.74%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.50%
baseline attrition
Rally response
+4.45%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $105M | 9.7% | +60.9% | 5.8 yr |
| CCJCameco Corporation | $98M | 9.0% | +164.4% | 3.8 yr |
| HALHalliburton Company | $47M | 4.3% | +57.9% | 2.0 yr |
| NOVTNovanta Inc. | $44M | 4.1% | -7.6% | 10.0 yr |
| AMZNAmazon.com, Inc. | $42M | 3.9% | +9.5% | 10.5 yr |
| HEIHEICO Corporation | $38M | 3.5% | +2.7% | 7.5 yr |
| TSMTaiwan Semiconductor Man | $34M | 3.1% | +105.6% | 3.3 yr |
| SLBSLB N.V. | $31M | 2.9% | +26.7% | 2.8 yr |
| PLTRPalantir Technologies In | $29M | 2.7% | +73.3% | 0.5 yr |
| CLHClean Harbors, Inc. | $29M | 2.7% | +45.5% | 5.5 yr |
| GLWCorning Incorporated | $27M | 2.5% | +201.5% | 2.3 yr |
| HEI-AHEICO Corporation | $26M | 2.4% | — | 8.8 yr |
| MRNAModerna, Inc. | $25M | 2.3% | +79.2% | 3.8 yr |
| FNVFranco-Nevada Corporatio | $25M | 2.3% | +58.0% | 4.0 yr |
| BKRBaker Hughes Company | $24M | 2.3% | +41.7% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors22.7%+4.5pp$245M
Hardware, Equipment & Parts10.1%+0.5pp$109M
Uranium9.6%+4.2pp$104M
Oil & Gas Equipment & Services9.4%$102M
Aerospace & Defense8.7%-3.0pp$94M
Software - Infrastructure4.9%+0.9pp$53M
Waste Management4.2%-2.5pp$45M
Specialty Retail3.9%-1.1pp$42M
Biotechnology2.9%-0.7pp$32M
Internet Content & Information2.9%-1.6pp$32M
Country
US76.0%+1.6pp
CA16.6%+5.3pp
TW3.1%+0.5pp
NL1.2%
CH1.1%-2.3pp
SG1.0%
IL1.0%-0.9pp
Top 5: 31.0% · Top 10: 45.9% · Top 25: 75.3%
Top buys this quarter · 10
| HAL Halliburton Company | +$31M |
| PLTR Palantir Technologies Inc. | +$15M |
| ANDG Andersen | +$11M |
| TXN Texas Instruments Incorporated | +$11M |
| QBTS D-Wave Quantum Inc.new | +$7M |
| OVV Ovintiv Inc.new | +$6M |
| CLH Clean Harbors, Inc. | +$6M |
| SLB SLB N.V. | +$5M |
| BV BrightView Holdings, Inc. | +$2M |
| BDSX Biodesix, Inc. | +$2M |
Top sells this quarter · 15
| CAT Caterpillar Inc. | −$85M |
| BKR Baker Hughes Company | −$23M |
| MCHP Microchip Technology Incorporaexit | −$23M |
| EQT EQT Corporationexit | −$19M |
| TWLO Twilio Inc. | −$19M |
| NXE NexGen Energy Ltd. | −$15M |
| RRC Range Resources Corporationexit | −$14M |
| MSFT Microsoft Corporationexit | −$11M |
| CCJ Cameco Corporation | −$91M |
| SHLS Shoals Technologies Group, Incexit | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.08B | 53 | +31.68% | +17.59% | +14.09% | +0.01B |
| 2025-12-31 | $1.00B | 56 | +10.17% | +17.72% | -7.55% | -0.03B |
| 2025-09-30 | $1.05B | 47 | +15.17% | +17.52% | -2.35% | +0.05B |
| 2025-06-30 | $942M | 48 | +8.39% | +14.94% | -6.55% | +0.03B |
| 2025-03-31 | $764M | 47 | -0.65% | +8.30% | -8.96% | -0.13B |
| 2024-12-31 | $1.00B | 54 | +28.38% | +24.89% | +3.49% | -0.01B |
| 2024-09-30 | $990M | 56 | +40.78% | +36.04% | +4.74% | -0.11B |
| 2024-06-30 | $1.11B | 57 | +34.62% | +24.49% | +10.12% | +0.05B |
| 2024-03-31 | $968M | 63 | +30.59% | +29.62% | +0.97% | +0.19B |
| 2023-12-31 | $671M | 47 | +12.64% | +26.18% | -13.54% | -0.07B |
| 2023-09-30 | $659M | 48 | -0.05% | +21.57% | -21.61% | -0.04B |
| 2023-06-30 | $737M | 48 | +13.23% | +19.42% | -6.19% | +0.03B |
| 2023-03-31 | $668M | 41 | -17.64% | -7.82% | -9.82% | +0.02B |
| 2022-12-31 | $654M | 36 | -0.45% | +7.56% | -8.01% | +0.02B |
| 2022-09-30 | $637M | 39 | +8.05% | -4.93% | +12.98% | -0.00B |
| 2022-06-30 | $591M | 39 | -22.94% | -16.11% | -6.83% | -0.28B |