Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.20%
adds when stocks drop
when a holding falls −10%+
Middle response
+9.96%
steady accumulation
Rally response
-29.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QQQInvesco QQQ Trust, Serie | $389M | 20.5% | — | 1.5 yr |
| PFEPfizer Inc. | $140M | 7.4% | +18.8% | 1.3 yr |
| MAMastercard Incorporated | $132M | 7.0% | -8.5% | 0.5 yr |
| TSMTaiwan Semiconductor Man | $109M | 5.8% | +105.6% | 1.0 yr |
| SHOPShopify Inc. | $104M | 5.5% | +24.2% | 0.5 yr |
| ORCLOracle Corporation | $102M | 5.4% | +5.9% | 0.3 yr |
| NKENIKE, Inc. | $95M | 5.0% | -14.7% | 0.8 yr |
| NNNextNav Inc. | $89M | 4.7% | +31.6% | 1.5 yr |
| APO-PAApollo Global Management | $80M | 4.2% | — | 1.0 yr |
| SESea Limited | $74M | 3.9% | -36.5% | 0.3 yr |
| — | $68M | 3.6% | — | 0.3 yr |
| — | $65M | 3.4% | — | 1.0 yr |
| XRTState Street SPDR S&P Re | $60M | 3.2% | — | 1.5 yr |
| — | $56M | 3.0% | — | 1.3 yr |
| — | $36M | 1.9% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management29.7%+0.7pp$563M
Unknown16.9%+1.2pp$321M
Drug Manufacturers - General7.5%$141M
Financial - Credit Services7.0%+7.0pp$133M
Semiconductors6.2%-13.9pp$117M
Software - Application5.8%-4.3pp$109M
Software - Infrastructure5.4%$102M
Apparel - Footwear & Accessories5.0%$95M
Internet Content & Information4.7%-15.1pp$89M
Specialty Retail3.9%+3.2pp$74M
Country
US63.6%-4.0pp
Unknown16.9%+1.2pp
CA9.4%+7.9pp
TW5.8%-7.6pp
SG3.9%
IL0.2%
IT0.1%
CN0.1%-0.9pp
Top 5: 46.2% · Top 10: 69.4% · Top 25: 93.4%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactu | +$109M |
| MA Mastercard Incorporated | +$102M |
| ORCL Oracle Corporationnew | +$101M |
| SE Sea Limitednew | +$74M |
| PPLC PPL Corporation Corporate Unitnew | +$20M |
| NKE NIKE, Inc. | +$95M |
| SHOP Shopify Inc. | +$104M |
| CRGY Crescent Energy Companynew | +$14M |
| LBRT Liberty Energy Inc.new | +$6M |
| EXE Expand Energy Corporation | +$5M |
Top sells this quarter · 15
| MU Micron Technology, Inc.exit | −$304M |
| NVDA NVIDIA Corporationexit | −$185M |
| META Meta Platforms, Inc.exit | −$181M |
| AMZN Amazon.com, Inc.exit | −$180M |
| ASML ASML Holding N.V.exit | −$134M |
| HLT Hilton Worldwide Holdings Inc.exit | −$119M |
| CDE Coeur Mining, Inc. | −$98M |
| JD JD.com, Inc.exit | −$76M |
| MELI MercadoLibre, Inc.exit | −$54M |
| PFE Pfizer Inc. | −$51M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.90B | 78 | +35.28% | +17.59% | +17.69% | -0.79B |
| 2025-12-31 | $2.83B | 98 | +34.02% | +17.72% | +16.30% | -0.09B |
| 2025-09-30 | $2.65B | 82 | +13.68% | +8.12% | +5.56% | +0.59B |
| 2025-06-30 | $1.81B | 78 | +13.88% | +10.78% | +3.10% | +0.34B |
| 2025-03-31 | $1.30B | 41 | -5.82% | -4.27% | -1.55% | -0.29B |
| 2024-12-31 | $1.68B | 49 | — | — | — | — |