Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-34.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.87%
baseline attrition
Rally response
-26.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BACBank of America Corporat | $80M | 3.2% | +19.4% | 5.5 yr |
| UBSUBS Group AG | $78M | 3.1% | +31.6% | 2.0 yr |
| ALLYAlly Financial Inc. | $68M | 2.7% | +11.1% | 5.8 yr |
| APOApollo Global Management | $59M | 2.3% | -17.4% | 4.0 yr |
| TSMTaiwan Semiconductor Man | $57M | 2.3% | +105.6% | 3.8 yr |
| NVDANVIDIA Corporation | $51M | 2.0% | +60.9% | 6.3 yr |
| AMZNAmazon.com, Inc. | $45M | 1.8% | +9.5% | 9.8 yr |
| GPNGlobal Payments Inc. | $38M | 1.5% | -30.4% | 5.3 yr |
| FISFidelity National Inform | $36M | 1.4% | -35.6% | 3.8 yr |
| CCJCameco Corporation | $35M | 1.4% | +164.4% | 6.0 yr |
| HUT.TOHut 8 Mining Corp. | $34M | 1.3% | +290.2% | 1.8 yr |
| AMATApplied Materials, Inc. | $34M | 1.3% | +137.6% | 4.0 yr |
| COFCapital One Financial Co | $30M | 1.2% | +3.1% | 6.5 yr |
| GPCGenuine Parts Company | $29M | 1.1% | -8.3% | 0.3 yr |
| SNDKSandisk Corporation | $27M | 1.1% | +1234.5% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown14.3%+7.8pp$360M
Shell Companies8.0%+6.9pp$201M
Semiconductors7.5%+7.3pp$190M
Banks - Diversified6.3%+3.6pp$159M
Asset Management6.3%-15.8pp$158M
Financial - Credit Services6.0%-1.9pp$150M
Financial - Capital Markets4.0%+2.5pp$100M
Specialty Retail3.0%+1.2pp$77M
Aerospace & Defense2.8%+0.5pp$71M
Industrial - Machinery2.3%+0.8pp$59M
Country
US70.7%-12.2pp
Unknown13.9%+7.8pp
CA3.5%+0.6pp
CH3.1%+1.4pp
TW2.3%+2.2pp
KY1.8%+1.8pp
IE1.6%+0.5pp
GB0.7%+0.1pp
Top 5: 13.6% · Top 10: 21.7% · Top 25: 37.3%
Top buys this quarter · 15
| APO Apollo Global Management, Inc. | +$53M |
| GPC Genuine Parts Companynew | +$29M |
| SNDK Sandisk Corporationnew | +$27M |
| LASR nLIGHT, Inc.new | +$27M |
| FPS Forgent Power Solutions, Inc.new | +$22M |
| FIS Fidelity National Information | +$19M |
| BLDR Builders FirstSource, Inc. | +$19M |
| UHS Universal Health Services, Inc | +$18M |
| AMAT Applied Materials, Inc. | +$17M |
| GPN Global Payments Inc. | +$15M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF | −$102M |
| EQIX Equinix, Inc. | −$71M |
| AMZN Amazon.com, Inc. | −$50M |
| TDY Teledyne Technologies Incorporexit | −$49M |
| UNM Unum Group | −$46M |
| AON Aon plcexit | −$45M |
| NG NovaGold Resources Inc. | −$45M |
| BE Bloom Energy Corporation | −$4M |
| TT Trane Technologies plcexit | −$42M |
| AVGO Broadcom Inc. | −$42M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.52B | 597 | +27.97% | +17.59% | +10.38% | -2.28B |
| 2025-12-31 | $4.72B | 615 | +20.84% | +17.72% | +3.12% | -0.35B |
| 2025-09-30 | $4.91B | 547 | +23.40% | +17.52% | +5.88% | -0.23B |
| 2025-06-30 | $4.67B | 486 | +18.57% | +14.94% | +3.63% | +1.86B |
| 2025-03-31 | $2.54B | 403 | +10.35% | +8.30% | +2.05% | -2.25B |
| 2024-12-31 | $4.98B | 398 | +36.96% | +24.89% | +12.07% | +1.66B |
| 2024-09-30 | $3.14B | 380 | +45.68% | +36.04% | +9.65% | -1.52B |
| 2024-06-30 | $4.41B | 395 | +36.50% | +24.49% | +12.01% | -0.43B |
| 2024-03-31 | $4.70B | 372 | +46.54% | +29.62% | +16.91% | +0.12B |
| 2023-12-31 | $3.84B | 372 | +25.79% | +26.18% | -0.39% | +0.22B |
| 2023-09-30 | $3.23B | 395 | +14.44% | +21.57% | -7.12% | -0.64B |
| 2023-06-30 | $3.90B | 445 | +29.03% | +19.42% | +9.61% | +0.52B |
| 2023-03-31 | $3.06B | 445 | -3.78% | -7.82% | +4.04% | -0.55B |
| 2022-12-31 | $3.53B | 520 | +1.98% | +7.56% | -5.58% | -0.16B |
| 2022-09-30 | $3.62B | 665 | +11.79% | -4.93% | +16.72% | -0.07B |
| 2022-06-30 | $3.30B | 668 | -17.58% | -16.11% | -1.47% | +0.81B |