Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.80%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.54%
baseline attrition
Rally response
+1.70%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $38M | 7.8% | — | 9.8 yr |
| NVDANVIDIA Corporation | $25M | 5.1% | +60.9% | 5.5 yr |
| FSUNFirstSun Capital Bancorp | $23M | 4.6% | +0.9% | 0.3 yr |
| VGKVanguard FTSE Europe ETF | $20M | 4.1% | — | 10.5 yr |
| PLDPrologis, Inc. | $16M | 3.3% | +22.3% | 6.3 yr |
| MSFTMicrosoft Corporation | $15M | 3.1% | -0.6% | 9.3 yr |
| SPYState Street SPDR S&P 50 | $15M | 3.1% | +17.6% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $14M | 2.8% | — | 8.3 yr |
| AMZNAmazon.com, Inc. | $14M | 2.8% | +9.5% | 8.8 yr |
| BILState Street SPDR Bloomb | $13M | 2.7% | — | 5.3 yr |
| LLYEli Lilly and Company | $13M | 2.7% | +12.2% | 3.8 yr |
| VRTVertiv Holdings Co | $10M | 2.1% | +247.5% | 0.3 yr |
| UPSUnited Parcel Service, I | $9M | 1.9% | -4.4% | 2.0 yr |
| RSPInvesco S&P 500 Equal We | $9M | 1.8% | — | 8.0 yr |
| BRK-BBerkshire Hathaway Inc. | $8M | 1.7% | — | 8.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management35.9%-16.6pp$177M
Semiconductors9.7%+4.7pp$48M
Internet Content & Information8.7%+2.6pp$43M
Software - Infrastructure6.2%+0.2pp$31M
Drug Manufacturers - General5.1%+1.6pp$25M
Specialty Retail4.9%+2.0pp$24M
Banks - Regional4.7%+4.5pp$23M
REIT - Industrial3.3%-4.5pp$16M
Electrical Equipment & Parts2.1%$10M
Asset Management - Bonds1.9%-1.8pp$10M
Country
US92.9%-3.5pp
CA1.6%+0.8pp
CN1.5%-0.9pp
TW1.2%
GB0.9%
IE0.6%
FR0.5%
DK0.5%
Top 5: 24.9% · Top 10: 39.4% · Top 25: 64.1%
Top buys this quarter · 15
| FSUN FirstSun Capital Bancorpnew | +$23M |
| AMZN Amazon.com, Inc. | +$13M |
| NVDA NVIDIA Corporation | +$12M |
| VRT Vertiv Holdings Conew | +$10M |
| MSFT Microsoft Corporation | +$8M |
| AMAT Applied Materials, Inc. | +$7M |
| PH Parker-Hannifin Corporationnew | +$7M |
| TSM Taiwan Semiconductor Manufactu | +$6M |
| AVGO Broadcom Inc. | +$5M |
| RIO Rio Tinto Groupnew | +$5M |
Top sells this quarter · 15
| PLD Prologis, Inc. | −$2M |
| ASML ASML Holding N.V. | −$1M |
| WELL Welltower Inc. | −$1M |
| COP ConocoPhillips | −$1M |
| XOM Exxon Mobil Corporation | −$1M |
| ENPH Enphase Energy, Inc. | −$3M |
| INTC Intel Corporationexit | −$0M |
| SBSW Sibanye Stillwater Limitedexit | −$0M |
| MSTR Strategy Incexit | −$0M |
| APO Apollo Global Management, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $494M | 163 | +19.00% | +17.59% | +1.41% | +0.23B |
| 2025-12-31 | $283M | 113 | +21.70% | +17.72% | +3.98% | -0.02B |
| 2025-09-30 | $289M | 110 | +17.89% | +17.52% | +0.38% | +0.00B |
| 2025-06-30 | $263M | 104 | +11.45% | +14.94% | -3.50% | -0.01B |
| 2025-03-31 | $243M | 100 | -1.60% | +8.30% | -9.90% | -0.00B |
| 2024-12-31 | $256M | 108 | +11.90% | +24.89% | -12.98% | +0.01B |
| 2024-09-30 | $247M | 106 | +27.10% | +36.04% | -8.93% | +0.00B |
| 2024-06-30 | $238M | 106 | +17.94% | +24.49% | -6.55% | +0.03B |
| 2024-03-31 | $213M | 104 | +25.13% | +29.62% | -4.49% | +0.01B |
| 2023-12-31 | $186M | 90 | +27.71% | +26.18% | +1.53% | -0.03B |
| 2023-09-30 | $183M | 102 | +14.20% | +21.57% | -7.37% | -0.03B |
| 2023-06-30 | $224M | 154 | +12.06% | +19.42% | -7.36% | -0.02B |
| 2023-03-31 | $230M | 152 | -13.78% | -7.82% | -5.97% | -0.02B |
| 2022-12-31 | $221M | 150 | -26.01% | -18.17% | -7.83% | -0.01B |
| 2022-09-30 | $220M | 158 | -20.57% | -15.51% | -5.07% | -0.01B |
| 2022-06-30 | $249M | 168 | -14.55% | -10.62% | -3.93% | +0.02B |