Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.74%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.56%
steady accumulation
Rally response
-8.88%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PDDPDD Holdings Inc. | $1.14B | 70.4% | -13.7% | 7.8 yr |
| BEKEKE Holdings Inc. | $108M | 6.6% | -25.2% | 5.8 yr |
| PONYPony AI Inc. American De | $100M | 6.2% | +7.0% | 0.8 yr |
| FUTUFutu Holdings Limited | $65M | 4.0% | +33.6% | 5.3 yr |
| — | $55M | 3.4% | — | 1.0 yr |
| CRCLCircle Internet Group | $49M | 3.0% | — | 0.5 yr |
| BZKanzhun Limited | $28M | 1.7% | -29.6% | 5.0 yr |
| DDLDingdong (Cayman) Limite | $26M | 1.6% | -4.8% | 4.3 yr |
| AVBPArriVent BioPharma, Inc. | $14M | 0.9% | +24.8% | 2.3 yr |
| — | $8M | 0.5% | — | 3.0 yr |
| THCHTH International Limited | $8M | 0.5% | -29.4% | 1.0 yr |
| LOTLotus Technology Inc. Am | $6M | 0.4% | -28.1% | 1.8 yr |
| GPCRStructure Therapeutics I | $6M | 0.4% | +178.5% | 2.8 yr |
| BTDRBitdeer Technologies Gro | $3M | 0.2% | -2.0% | 3.0 yr |
| ADAGAdagene Inc. | $2M | 0.1% | +157.9% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail70.4%-9.8pp$1.14B
Financial - Capital Markets7.0%+1.6pp$114M
Real Estate - Services6.6%+0.3pp$108M
Rental & Leasing Services6.2%$100M
Unknown3.9%+2.7pp$64M
Staffing & Employment Services1.7%+0.1pp$28M
Grocery Stores1.6%-0.1pp$26M
Biotechnology1.4%+0.1pp$23M
Restaurants0.5%$8M
Auto - Manufacturers0.4%+0.0pp$6M
Country
IE70.4%-9.8pp
CN17.1%+5.4pp
US4.3%+3.1pp
HK4.0%-1.4pp
Unknown3.9%+2.7pp
SG0.2%+0.0pp
GB0.1%+0.0pp
Top 5: 90.6% · Top 10: 98.3% · Top 25: 100.0%
Top buys this quarter · 3
| PONY Pony AI Inc. American Deposita | +$61M |
| CRCL Circle Internet Group | +$34M |
| — new | +$0M |
Top sells this quarter · 3
| LYEL Lyell Immunopharma, Inc.exit | −$3M |
| — exit | −$0M |
| — exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.62B | 18 | -8.47% | +17.59% | -26.06% | -0.03B |
| 2025-12-31 | $1.85B | 18 | +22.49% | +17.72% | +4.77% | +0.17B |
| 2025-09-30 | $1.92B | 18 | +9.00% | +17.52% | -8.52% | -0.56B |
| 2025-06-30 | $1.94B | 19 | -11.16% | +14.94% | -26.10% | +0.37B |
| 2025-03-31 | $1.70B | 17 | +6.55% | +8.30% | -1.75% | -1.18B |
| 2024-12-31 | $2.42B | 18 | -15.43% | +24.89% | -40.32% | +0.41B |
| 2024-09-30 | $2.58B | 18 | +19.84% | +36.04% | -16.19% | -0.24B |
| 2024-06-30 | $2.71B | 17 | +24.99% | +24.49% | +0.50% | +1.52B |
| 2024-03-31 | $1.08B | 18 | -4.77% | +29.62% | -34.39% | +0.26B |
| 2023-12-31 | $869M | 19 | +0.40% | +26.18% | -25.78% | -0.16B |
| 2023-09-30 | $933M | 20 | +5.62% | +21.57% | -15.95% | -0.02B |
| 2023-06-30 | $874M | 20 | -23.57% | +19.42% | -42.99% | +0.07B |
| 2023-03-31 | $952M | 19 | +10.55% | -7.82% | +18.37% | -0.03B |
| 2022-12-31 | $987M | 19 | +15.92% | +7.56% | +8.36% | -0.09B |
| 2022-09-30 | $932M | 20 | -21.47% | -4.93% | -16.54% | +0.08B |
| 2022-06-30 | $1.08B | 21 | +21.77% | -16.11% | +37.88% | +0.11B |