Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.53%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.65%
baseline attrition
Rally response
-14.40%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $11M | 5.2% | — | 0.5 yr |
| IPCXUInflection Point Acquisi | $10M | 4.7% | — | 0.5 yr |
| CAEPCantor Equity Partners I | $9M | 4.5% | — | 0.5 yr |
| KCHVKochav Defense Acquisiti | $8M | 4.1% | — | 0.5 yr |
| — | $8M | 3.7% | — | 0.5 yr |
| SBXD-UNSilverBox Corp IV | $7M | 3.5% | — | 0.5 yr |
| AAPLApple Inc. | $7M | 3.3% | +14.7% | 10.5 yr |
| CCIXChurchill Capital Corp I | $6M | 3.1% | -1.0% | 0.5 yr |
| MSFTMicrosoft Corporation | $6M | 2.8% | -0.6% | 7.5 yr |
| CEPOCantor Equity Partners I | $5M | 2.5% | +2.4% | 0.5 yr |
| TSMTaiwan Semiconductor Man | $5M | 2.4% | +105.6% | 5.0 yr |
| NVDANVIDIA Corporation | $5M | 2.4% | +60.9% | 5.3 yr |
| AMZNAmazon.com, Inc. | $5M | 2.4% | +9.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $5M | 2.4% | -0.4% | 10.5 yr |
| ANSCAgriculture & Natural So | $5M | 2.4% | +5.8% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown31.0%+14.0pp$65M
Shell Companies13.7%+12.2pp$28M
Asset Management8.0%+4.7pp$17M
Semiconductors6.8%-0.8pp$14M
Internet Content & Information5.9%-6.1pp$12M
Software - Application4.1%-5.9pp$9M
Investment - Banking & Investment Services4.1%$8M
Specialty Retail3.4%-2.6pp$7M
Consumer Electronics3.3%-3.2pp$7M
Software - Infrastructure3.2%-2.5pp$7M
Country
US57.0%-20.4pp
Unknown27.9%+10.9pp
KY9.3%
TW2.4%-0.6pp
MX1.7%
CA1.1%-0.9pp
CH0.4%
IL0.1%-0.3pp
Top 5: 22.2% · Top 10: 37.3% · Top 25: 67.1%
Top buys this quarter · 15
| CCIX Churchill Capital Corp IX Ordi | +$2M |
| ANSC Agriculture & Natural Solution | +$1M |
| PGR The Progressive Corporation | +$1M |
| TOL Toll Brothers, Inc. | +$1M |
| SHOP Shopify Inc. | +$2M |
| CAEP Cantor Equity Partners III, In | +$0M |
| AMZN Amazon.com, Inc. | +$5M |
| LINC Lincoln Educational Services Cnew | +$0M |
| KKR KKR & Co. Inc. | +$2M |
| UCTT Ultra Clean Holdings, Inc.new | +$0M |
Top sells this quarter · 15
| PINS Pinterest, Inc.exit | −$1M |
| TSM Taiwan Semiconductor Manufactu | −$1M |
| AAPL Apple Inc. | −$1M |
| NVDA NVIDIA Corporation | −$0M |
| SBUX Starbucks Corporation | −$0M |
| META Meta Platforms, Inc. | −$0M |
| SCHW The Charles Schwab Corporation | −$0M |
| PEN Penumbra, Inc.exit | −$0M |
| GOOG Alphabet Inc. | −$0M |
| LMT Lockheed Martin Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $208M | 145 | +12.63% | +17.59% | -4.96% | +0.03B |
| 2025-12-31 | $193M | 146 | +13.12% | +17.72% | -4.60% | +0.06B |
| 2025-09-30 | $130M | 128 | +17.91% | +17.52% | +0.39% | -0.01B |
| 2025-06-30 | $127M | 126 | +15.15% | +14.94% | +0.21% | -0.01B |
| 2025-03-31 | $116M | 124 | +2.14% | +8.30% | -6.16% | +0.00B |
| 2024-12-31 | $123M | 117 | +19.96% | +24.89% | -4.92% | -0.00B |
| 2024-09-30 | $122M | 129 | +37.90% | +36.04% | +1.86% | -0.00B |
| 2024-06-30 | $121M | 130 | +28.80% | +24.49% | +4.31% | -0.00B |
| 2024-03-31 | $122M | 129 | +42.79% | +29.62% | +13.16% | +0.00B |
| 2023-12-31 | $109M | 106 | +58.17% | +26.18% | +31.99% | -0.02B |
| 2023-09-30 | $111M | 106 | +31.41% | +21.57% | +9.85% | +0.01B |
| 2023-06-30 | $109M | 49 | +31.37% | +19.42% | +11.95% | -0.03B |
| 2023-03-31 | $120M | 59 | -16.38% | -7.82% | -8.56% | -0.13B |
| 2022-12-31 | $210M | 98 | -0.02% | +7.56% | -7.58% | -0.10B |
| 2022-09-30 | $308M | 128 | -2.93% | -4.93% | +2.00% | +0.00B |
| 2022-06-30 | $315M | 139 | -28.17% | -16.11% | -12.06% | -0.08B |