Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.88%
adds when stocks drop
when a holding falls −10%+
Middle response
+13.21%
steady accumulation
Rally response
-34.43%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EAElectronic Arts Inc. | $2.61B | 18.6% | +41.7% | 0.8 yr |
| BAThe Boeing Company | $1.41B | 10.0% | +16.7% | 6.8 yr |
| WBDWarner Bros. Discovery, | $1.38B | 9.8% | +155.9% | 1.5 yr |
| CARAvis Budget Group, Inc. | $1.03B | 7.3% | +92.2% | 2.5 yr |
| NSCNorfolk Southern Corpora | $924M | 6.6% | +23.6% | 0.8 yr |
| KVUEKenvue Inc. | $896M | 6.4% | -25.0% | 2.0 yr |
| MASIMasimo Corporation | $565M | 4.0% | +6.8% | 0.3 yr |
| SPYState Street SPDR S&P 50 | $377M | 2.7% | +17.6% | 9.3 yr |
| CORZCore Scientific, Inc. | $372M | 2.6% | +106.6% | 1.0 yr |
| TECKTeck Resources Limited | $360M | 2.6% | +43.3% | 3.0 yr |
| HOLXHologic, Inc. | $340M | 2.4% | +22.4% | 0.8 yr |
| ACLXArcellx, Inc. | $330M | 2.3% | — | 0.3 yr |
| CNTACentessa Pharmaceuticals | $325M | 2.3% | +176.2% | 0.3 yr |
| NFLXNetflix, Inc. | $297M | 2.1% | +3.1% | 0.5 yr |
| SATSEchoStar Corporation | $276M | 2.0% | +357.7% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Electronic Gaming & Multimedia18.6%$2.61B
Entertainment12.2%+9.8pp$1.71B
Aerospace & Defense10.0%-3.1pp$1.41B
Rental & Leasing Services8.4%+3.8pp$1.18B
Biotechnology7.9%+7.4pp$1.11B
Railroads6.6%$924M
Household & Personal Products6.4%+6.3pp$896M
Asset Management4.3%-0.4pp$601M
Medical - Devices4.0%+3.8pp$565M
Software - Infrastructure2.8%+2.4pp$395M
Country
US94.9%-2.1pp
CA2.6%+2.3pp
GB2.3%
Unknown0.3%-0.7pp
Top 5: 52.2% · Top 10: 70.5% · Top 25: 94.4%
Top buys this quarter · 15
| CAR Avis Budget Group, Inc. | +$576M |
| MASI Masimo Corporationnew | +$565M |
| EA Electronic Arts Inc. | +$379M |
| SPY State Street SPDR S&P 500 ETF | +$371M |
| CNTA Centessa Pharmaceuticals plcnew | +$325M |
| NFLX Netflix, Inc. | +$266M |
| APLS Apellis Pharmaceuticals, Inc.new | +$211M |
| CWAN Clearwater Analytics Holdings, | +$208M |
| SATS EchoStar Corporation | +$193M |
| WBS Webster Financial Corporationnew | +$130M |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$753M |
| HCA HCA Healthcare, Inc. | −$84M |
| KVUE Kenvue Inc. | −$81M |
| TGNA TEGNA Inc.exit | −$35M |
| PNFP Pinnacle Financial Partners, Iexit | −$26M |
| CORZ Core Scientific, Inc. | −$11M |
| TDAY USA TODAY Co., Inc.exit | −$10M |
| CRWV CoreWeave, Inc. Class A Common | −$9M |
| PTGX Protagonist Therapeutics, Inc.exit | −$5M |
| WGS GeneDx Holdings Corp.exit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $14.07B | 60 | +40.13% | +17.59% | +22.54% | +0.16B |
| 2025-12-31 | $13.82B | 47 | +35.63% | +17.72% | +17.92% | +2.49B |
| 2025-09-30 | $11.13B | 65 | +39.55% | +17.52% | +22.03% | +2.63B |
| 2025-06-30 | $7.83B | 63 | +22.88% | +14.94% | +7.94% | -1.18B |
| 2025-03-31 | $7.16B | 62 | -11.49% | +8.30% | -19.79% | +1.51B |
| 2024-12-31 | $5.80B | 54 | -16.67% | +24.89% | -41.56% | +0.09B |
| 2024-09-30 | $5.45B | 51 | -11.31% | +36.04% | -47.34% | +1.03B |
| 2024-06-30 | $4.61B | 51 | -15.40% | +24.49% | -39.89% | -0.89B |
| 2024-03-31 | $6.07B | 54 | -8.12% | +29.62% | -37.75% | +1.21B |
| 2023-12-31 | $5.30B | 66 | -0.81% | +26.18% | -26.99% | -6.25B |
| 2023-09-30 | $10.36B | 67 | -0.67% | +21.57% | -22.24% | +3.09B |
| 2023-06-30 | $7.97B | 84 | +8.66% | +19.42% | -10.77% | +2.05B |
| 2023-03-31 | $6.01B | 91 | -9.25% | -7.82% | -1.43% | +2.87B |
| 2022-12-31 | $3.16B | 77 | -12.58% | -18.17% | +5.60% | -4.17B |
| 2022-09-30 | $6.56B | 95 | -13.05% | -15.51% | +2.46% | +0.75B |
| 2022-06-30 | $5.83B | 111 | -12.39% | -10.62% | -1.77% | +1.40B |