Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.78%
baseline attrition
Rally response
-20.71%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $136M | 37.9% | — | 3.5 yr |
| — | $86M | 24.0% | — | 1.0 yr |
| BFLYButterfly Network, Inc. | $43M | 12.0% | +77.2% | 5.3 yr |
| ASHRXtrackers Harvest CSI 30 | $17M | 4.7% | — | 1.8 yr |
| GDXVanEck Gold Miners ETF | $9M | 2.4% | — | 0.3 yr |
| GOOGLAlphabet Inc. | $4M | 1.0% | — | 8.5 yr |
| XMEState Street SPDR S&P Me | $4M | 1.0% | — | 0.3 yr |
| MSFTMicrosoft Corporation | $4M | 1.0% | -0.6% | 8.5 yr |
| MSDLMorgan Stanley Direct Le | $3M | 0.9% | -23.7% | 0.5 yr |
| — | $3M | 0.8% | — | 2.5 yr |
| NVDANVIDIA Corporation | $3M | 0.7% | +60.9% | 5.5 yr |
| HSAIHesai Group | $3M | 0.7% | +29.2% | 0.8 yr |
| AMZNAmazon.com, Inc. | $2M | 0.6% | +9.5% | 5.8 yr |
| TSMTaiwan Semiconductor Man | $2M | 0.6% | +105.6% | 7.3 yr |
| PDDPDD Holdings Inc. | $2M | 0.6% | -13.7% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown62.7%-0.3pp$226M
Medical - Devices12.6%+5.2pp$45M
Asset Management11.7%-0.4pp$42M
Semiconductors2.3%+1.8pp$8M
Specialty Retail1.8%+1.5pp$7M
Software - Infrastructure1.4%+0.6pp$5M
Internet Content & Information1.2%+0.4pp$4M
Financial - Conglomerates0.9%$3M
Auto - Parts0.7%$3M
Financial - Data & Stock Exchanges0.6%+0.5pp$2M
Country
Unknown62.7%-0.3pp
US33.7%-2.8pp
CN1.5%+1.4pp
IE0.8%
TW0.6%+0.5pp
HK0.4%
GB0.1%+0.0pp
NL0.1%
Top 5: 81.1% · Top 10: 85.8% · Top 25: 94.2%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$2M |
| TSM Taiwan Semiconductor Manufactu | +$2M |
| BABA Alibaba Group Holding Limited | +$2M |
| AMZN Amazon.com, Inc. | +$2M |
| NDAQ Nasdaq, Inc. | +$2M |
| FUTU Futu Holdings Limitednew | +$1M |
| NFLX Netflix, Inc. | +$1M |
| PDD PDD Holdings Inc. | +$1M |
| SNPS Synopsys, Inc. | +$1M |
| BIDU Baidu, Inc.new | +$1M |
Top sells this quarter · 15
| INTC Intel Corporation | −$7M |
| AMD Advanced Micro Devices, Inc. | −$6M |
| CAT Caterpillar Inc. | −$3M |
| GLW Corning Incorporated | −$1M |
| ADBE Adobe Inc.exit | −$1M |
| TSEM Tower Semiconductor Ltd.exit | −$1M |
| CB Chubb Limitedexit | −$1M |
| LOW Lowe's Companies, Inc.exit | −$1M |
| SYY Sysco Corporationexit | −$0M |
| LIN Linde plcexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $360M | 61 | +76.96% | +17.59% | +59.37% | -0.06B |
| 2025-12-31 | $391M | 49 | +42.26% | +17.72% | +24.55% | +0.03B |
| 2025-09-30 | $266M | 45 | +20.60% | +17.52% | +3.08% | -0.08B |
| 2025-06-30 | $295M | 48 | +17.25% | +14.94% | +2.31% | -0.08B |
| 2025-03-31 | $351M | 47 | +2.92% | +8.30% | -5.39% | +0.08B |
| 2024-12-31 | $320M | 47 | +27.21% | +24.89% | +2.32% | -0.03B |
| 2024-09-30 | $304M | 52 | +31.59% | +36.04% | -4.45% | -0.03B |
| 2024-06-30 | $296M | 46 | +13.19% | +24.49% | -11.30% | -0.00B |
| 2024-03-31 | $321M | 45 | +24.67% | +29.62% | -4.95% | -0.20B |
| 2023-12-31 | $491M | 44 | +15.56% | +26.18% | -10.62% | -0.25B |
| 2023-09-30 | $623M | 70 | -13.54% | +21.57% | -35.10% | -0.04B |
| 2023-06-30 | $683M | 59 | -19.66% | +19.42% | -39.09% | -0.36B |
| 2023-03-31 | $1.02B | 61 | -33.80% | -7.82% | -25.98% | -0.03B |
| 2022-12-31 | $1.08B | 65 | -10.98% | +7.56% | -18.55% | +0.70B |
| 2022-09-30 | $421M | 64 | -9.70% | -4.93% | -4.77% | -0.12B |
| 2022-06-30 | $597M | 60 | -15.83% | -16.11% | +0.29% | -0.19B |