Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.72%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.09%
baseline attrition
Rally response
-12.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BILState Street SPDR Bloomb | $116M | 3.1% | — | 1.8 yr |
| FSSFederal Signal Corporati | $67M | 1.8% | +47.8% | 2.0 yr |
| TRMBTrimble Inc. | $67M | 1.8% | -0.6% | 10.5 yr |
| — | $65M | 1.7% | — | 3.0 yr |
| TPBTurning Point Brands, In | $65M | 1.7% | +46.5% | 4.8 yr |
| CHDNChurchill Downs Incorpor | $64M | 1.7% | -18.8% | 4.3 yr |
| AXGNAxoGen, Inc. | $63M | 1.7% | +79.1% | 8.3 yr |
| KEXKirby Corporation | $63M | 1.7% | +31.6% | 10.5 yr |
| HNGEHinge Health, Inc. | $61M | 1.6% | — | 1.0 yr |
| CWCurtiss-Wright Corporati | $60M | 1.6% | +115.0% | 2.8 yr |
| TNDMTandem Diabetes Care, In | $59M | 1.6% | +0.1% | 2.8 yr |
| VNOMViper Energy, Inc. | $58M | 1.5% | — | 0.8 yr |
| WAYWaystar Holding Corp. | $53M | 1.4% | -35.5% | 2.0 yr |
| CMPRCimpress plc | $49M | 1.3% | +61.4% | 6.3 yr |
| 0I3I.LThe Cooper Companies, In | $47M | 1.3% | -15.3% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology10.0%+1.7pp$375M
Medical - Devices6.3%+1.6pp$237M
Asset Management5.3%+2.3pp$200M
Semiconductors5.1%+2.1pp$190M
Industrial - Machinery4.6%+0.7pp$172M
Unknown4.6%-0.9pp$170M
Gambling, Resorts & Casinos4.2%+0.4pp$158M
Software - Application4.1%-5.8pp$152M
Aerospace & Defense3.7%+1.4pp$137M
Software - Infrastructure3.2%-4.1pp$121M
Country
US88.3%+0.6pp
Unknown4.6%-0.9pp
IE2.3%-0.2pp
CA1.7%+0.3pp
KY0.8%+0.8pp
IL0.7%+0.1pp
BM0.4%-0.0pp
IT0.4%+0.1pp
Top 5: 10.2% · Top 10: 18.5% · Top 25: 36.8%
Top buys this quarter · 15
| DFTX Definium Therapeutics, Inc.new | +$30M |
| GNRC Generac Holdings Inc. | +$18M |
| AXGN AxoGen, Inc. | +$15M |
| YSS York Space Systems, Inc.new | +$14M |
| KVYO Klaviyo, Inc. | +$13M |
| AUR Aurora Innovation, Inc.new | +$13M |
| TTAN ServiceTitan, Inc.new | +$12M |
| HNGE Hinge Health, Inc. | +$12M |
| FIGR Figure Technology Solutions, I | +$10M |
| CDE Coeur Mining, Inc.new | +$9M |
Top sells this quarter · 15
| PRCT PROCEPT BioRobotics Corporatioexit | −$34M |
| GFS GLOBALFOUNDRIES Inc. | −$31M |
| GMED Globus Medical, Inc. | −$30M |
| LVS Las Vegas Sands Corp. | −$30M |
| PGNY Progyny, Inc.exit | −$25M |
| MGM MGM Resorts International | −$22M |
| RELY Remitly Global, Inc. | −$22M |
| CCSI Consensus Cloud Solutions, Inc | −$19M |
| KEX Kirby Corporation | −$18M |
| YOU Clear Secure, Inc. | −$18M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.74B | 292 | +3.05% | +17.59% | -14.54% | -0.55B |
| 2025-12-31 | $4.53B | 308 | -0.40% | +17.72% | -18.12% | -0.94B |
| 2025-09-30 | $5.38B | 303 | -2.77% | +17.52% | -20.29% | -0.20B |
| 2025-06-30 | $5.55B | 300 | +3.94% | +14.94% | -11.00% | -1.02B |
| 2025-03-31 | $6.17B | 297 | -4.83% | +8.30% | -13.13% | -0.64B |
| 2024-12-31 | $7.43B | 305 | +7.31% | +24.89% | -17.58% | -0.29B |
| 2024-09-30 | $7.79B | 299 | +15.34% | +36.04% | -20.69% | -1.19B |
| 2024-06-30 | $8.35B | 309 | -10.00% | +24.49% | -34.49% | -0.19B |
| 2024-03-31 | $8.76B | 314 | -11.47% | +29.62% | -41.10% | -0.58B |
| 2023-12-31 | $9.04B | 305 | -16.88% | +26.18% | -43.06% | +0.30B |
| 2023-09-30 | $8.20B | 305 | +1.70% | +21.57% | -19.87% | +0.56B |
| 2023-06-30 | $9.11B | 301 | +12.34% | +19.42% | -7.08% | +0.68B |
| 2023-03-31 | $8.80B | 304 | -12.95% | -7.82% | -5.13% | +0.68B |
| 2022-12-31 | $8.37B | 303 | +30.43% | +7.56% | +22.87% | -2.26B |
| 2022-09-30 | $8.15B | 327 | -7.32% | -4.93% | -2.39% | +0.06B |
| 2022-06-30 | $8.73B | 324 | -25.73% | -16.11% | -9.62% | +0.27B |