Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.39%
baseline attrition
Rally response
-6.03%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $75M | 10.5% | +9.5% | 10.5 yr |
| WGSGeneDx Holdings Corp. | $44M | 6.2% | -27.5% | 1.5 yr |
| APPAppLovin Corporation | $32M | 4.5% | +50.2% | 1.5 yr |
| LITELumentum Holdings Inc. | $29M | 4.0% | +1027.3% | 3.8 yr |
| COHRCoherent, Inc. | $28M | 3.9% | +266.8% | 2.3 yr |
| TSMTaiwan Semiconductor Man | $26M | 3.7% | +105.6% | 7.5 yr |
| NVDANVIDIA Corporation | $23M | 3.2% | +60.9% | 7.8 yr |
| AMATApplied Materials, Inc. | $22M | 3.1% | +137.6% | 6.0 yr |
| AVGOBroadcom Inc. | $22M | 3.0% | +86.0% | 6.3 yr |
| METAMeta Platforms, Inc. | $21M | 2.9% | -0.4% | 10.0 yr |
| LRCXLam Research Corporation | $21M | 2.9% | +196.1% | 1.0 yr |
| VVisa Inc. | $20M | 2.8% | -13.1% | 10.5 yr |
| VRTVertiv Holdings Co | $20M | 2.8% | +247.5% | 2.3 yr |
| CRWDCrowdStrike Holdings, In | $18M | 2.5% | +10.7% | 5.3 yr |
| SNDKSandisk Corporation | $16M | 2.2% | +1234.5% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors24.0%+11.1pp$171M
Specialty Retail11.2%-4.0pp$80M
Hardware, Equipment & Parts7.4%+7.1pp$53M
Internet Content & Information6.9%+0.7pp$49M
Medical - Healthcare Information Services6.2%-0.3pp$44M
Software - Application6.2%-2.9pp$44M
Software - Infrastructure5.1%-2.5pp$37M
Communication Equipment4.0%$29M
Electrical Equipment & Parts4.0%+2.9pp$28M
Medical - Diagnostics & Research3.1%+0.4pp$22M
Country
US87.4%+11.9pp
TW3.7%+1.7pp
LU1.9%-0.3pp
Unknown1.4%-4.9pp
NL1.1%
BR1.0%-0.1pp
CA1.0%
SG1.0%
Top 5: 29.2% · Top 10: 45.1% · Top 25: 76.1%
Top buys this quarter · 15
| AMAT Applied Materials, Inc. | +$15M |
| CRWD CrowdStrike Holdings, Inc. | +$13M |
| COHR Coherent, Inc. | +$9M |
| BE Bloom Energy Corporationnew | +$8M |
| ANET Arista Networks, Inc. | +$7M |
| FN Fabrinetnew | +$7M |
| LRCX Lam Research Corporation | +$7M |
| MU Micron Technology, Inc. | +$6M |
| WGS GeneDx Holdings Corp. | +$44M |
| SNOW Snowflake Inc. | +$5M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$64M |
| PWR Quanta Services, Inc. | −$46M |
| AVGO Broadcom Inc. | −$44M |
| TSM Taiwan Semiconductor Manufactu | −$38M |
| HUT.TO Hut 8 Mining Corp. | −$34M |
| VST Vistra Corp. | −$34M |
| CLS Celestica Inc.exit | −$28M |
| SNDK Sandisk Corporation | −$16M |
| MRVL Marvell Technology, Inc.exit | −$24M |
| WDC Western Digital Corporationexit | −$22M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $713M | 59 | +63.97% | +17.59% | +46.38% | -0.71B |
| 2025-12-31 | $1.41B | 97 | +44.64% | +17.72% | +26.93% | -0.02B |
| 2025-09-30 | $1.29B | 94 | +43.47% | +17.52% | +25.96% | +0.12B |
| 2025-06-30 | $975M | 83 | +22.71% | +14.94% | +7.77% | +0.21B |
| 2025-03-31 | $624M | 62 | +1.28% | +8.30% | -7.02% | -0.43B |
| 2024-12-31 | $1.18B | 88 | -35.80% | +24.89% | -60.68% | +0.10B |
| 2024-09-30 | $986M | 85 | -46.91% | +36.04% | -82.94% | +0.09B |
| 2024-06-30 | $881M | 75 | -30.02% | +24.49% | -54.51% | -0.26B |
| 2024-03-31 | $1.13B | 121 | -15.97% | +29.62% | -45.59% | +0.64B |
| 2023-12-31 | $868M | 106 | +53.55% | +26.18% | +27.38% | +0.11B |
| 2023-09-30 | $832M | 108 | +75.67% | +21.57% | +54.11% | -0.17B |
| 2023-06-30 | $744M | 112 | +27.44% | +19.42% | +8.02% | -0.15B |
| 2023-03-31 | $739M | 104 | -10.32% | -7.82% | -2.50% | +0.04B |
| 2022-12-31 | $681M | 107 | +4.41% | +7.56% | -3.15% | +0.20B |
| 2022-09-30 | $459M | 86 | -2.30% | -4.93% | +2.63% | -0.03B |
| 2022-06-30 | $501M | 85 | -14.71% | -16.11% | +1.40% | -0.06B |