Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.61%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.42%
steady accumulation
Rally response
-2.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CLSCelestica Inc. | $59M | 8.2% | +257.4% | 2.3 yr |
| FNFabrinet | $52M | 7.3% | +164.0% | 10.5 yr |
| SIMOSilicon Motion Technolog | $41M | 5.8% | +127.9% | 10.5 yr |
| VICRVicor Corporation | $35M | 4.9% | +244.2% | 6.3 yr |
| PEGAPegasystems Inc. | $29M | 4.1% | +22.6% | 10.5 yr |
| TSEMTower Semiconductor Ltd. | $29M | 4.1% | +392.1% | 9.3 yr |
| ARLOArlo Technologies, Inc. | $20M | 2.7% | +44.2% | 5.0 yr |
| DOCNDigitalOcean Holdings, I | $19M | 2.6% | +156.9% | 0.5 yr |
| RDWRRadware Ltd. | $17M | 2.4% | +21.7% | 10.5 yr |
| KLICKulicke and Soffa Indust | $16M | 2.2% | +103.0% | 7.8 yr |
| SMCISuper Micro Computer, In | $16M | 2.2% | -33.5% | 1.8 yr |
| DRSLeonardo DRS, Inc. | $13M | 1.8% | +36.6% | 3.5 yr |
| GOOGLAlphabet Inc. | $13M | 1.8% | — | 10.5 yr |
| LASRnLIGHT, Inc. | $11M | 1.5% | +633.8% | 8.0 yr |
| DSGXThe Descartes Systems Gr | $10M | 1.4% | -29.0% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors25.1%+10.6pp$180M
Hardware, Equipment & Parts25.1%+8.0pp$180M
Software - Application14.6%-5.4pp$105M
Software - Infrastructure11.1%-7.4pp$80M
Communication Equipment3.5%+0.4pp$25M
Unknown3.1%+0.9pp$22M
Security & Protection Services2.7%+0.4pp$20M
Computer Hardware2.5%-2.6pp$18M
Internet Content & Information2.0%+0.1pp$14M
Aerospace & Defense1.8%-0.2pp$13M
Country
US63.8%-3.5pp
CA9.7%-0.1pp
IL7.7%-1.0pp
KY7.3%+1.0pp
HK5.8%+2.1pp
Unknown3.1%+0.9pp
SG2.2%+0.4pp
TW0.4%+0.1pp
Top 5: 30.2% · Top 10: 44.2% · Top 25: 65.4%
Top buys this quarter · 8
| VSH Vishay Intertechnology, Inc.new | +$5M |
| CLMB Climb Global Solutions, Inc. | +$6M |
| AVT Avnet, Inc.new | +$2M |
| DOCN DigitalOcean Holdings, Inc. | +$1M |
| POWI Power Integrations, Inc. | +$1M |
| ARLO Arlo Technologies, Inc. | +$1M |
| AAPL Apple Inc. | +$0M |
| — new | +$0M |
Top sells this quarter · 15
| CLS Celestica Inc. | −$6M |
| MU Micron Technology, Inc. | −$4M |
| VICR Vicor Corporation | −$27M |
| FN Fabrinet | −$49M |
| FORM FormFactor, Inc. | −$6M |
| WK Workiva Inc.exit | −$3M |
| DSGX The Descartes Systems Group In | −$3M |
| TSEM Tower Semiconductor Ltd. | −$21M |
| OSPN OneSpan Inc.exit | −$2M |
| KLIC Kulicke and Soffa Industries, | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $718M | 97 | +51.08% | +17.59% | +33.49% | -0.05B |
| 2025-12-31 | $766M | 97 | +26.63% | +17.72% | +8.91% | -0.01B |
| 2025-09-30 | $751M | 94 | +37.14% | +17.52% | +19.62% | -0.01B |
| 2025-06-30 | $674M | 94 | +22.07% | +14.94% | +7.12% | -0.02B |
| 2025-03-31 | $533M | 95 | -4.01% | +8.30% | -12.31% | +0.02B |
| 2024-12-31 | $611M | 94 | +18.36% | +24.89% | -6.53% | -0.04B |
| 2024-09-30 | $580M | 94 | +25.03% | +36.04% | -11.01% | -0.03B |
| 2024-06-30 | $610M | 96 | +14.54% | +24.49% | -9.95% | -0.02B |
| 2024-03-31 | $617M | 98 | +19.45% | +29.62% | -10.18% | +0.07B |
| 2023-12-31 | $524M | 98 | +26.72% | +26.18% | +0.54% | -0.03B |
| 2023-09-30 | $470M | 101 | +4.96% | +21.57% | -16.60% | -0.00B |
| 2023-06-30 | $515M | 100 | +6.24% | +19.42% | -13.18% | +0.04B |
| 2023-03-31 | $450M | 96 | -17.59% | -7.82% | -9.77% | +0.00B |
| 2022-12-31 | $407M | 96 | -1.83% | +7.56% | -9.39% | +0.01B |
| 2022-09-30 | $406M | 102 | -7.34% | -4.93% | -2.41% | +0.01B |
| 2022-06-30 | $431M | 105 | -17.65% | -16.11% | -1.54% | -0.02B |