Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.74%
adds when stocks drop
when a holding falls −10%+
Middle response
-28.12%
baseline attrition
Rally response
-14.46%
trims into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| STNEStoneCo Ltd. | $7M | 30.1% | +34.7% | 5.0 yr |
| XPXP Inc. | $5M | 22.2% | +39.9% | 5.3 yr |
| NUNu Holdings Ltd. | $3M | 15.2% | +40.3% | 2.3 yr |
| LLYEli Lilly and Company | $1M | 5.1% | +12.2% | 9.0 yr |
| ABBVAbbVie Inc. | $1M | 3.0% | +7.3% | 6.8 yr |
| INCYIncyte Corporation | $1M | 2.4% | +55.4% | 9.3 yr |
| JNJJohnson & Johnson | $1M | 2.3% | +51.5% | 1.3 yr |
| ONCBeOne Medicines Ltd. | $1M | 2.3% | +9.1% | 7.5 yr |
| BMYBristol-Myers Squibb Com | $0M | 1.7% | +3.4% | 4.5 yr |
| TSMTaiwan Semiconductor Man | $0M | 1.6% | +105.6% | 1.5 yr |
| TMOThermo Fisher Scientific | $0M | 1.6% | -0.9% | 7.8 yr |
| ISRGIntuitive Surgical, Inc. | $0M | 1.6% | -6.9% | 7.3 yr |
| GILDGilead Sciences, Inc. | $0M | 1.5% | +27.7% | 2.5 yr |
| ABTAbbott Laboratories | $0M | 1.4% | -21.1% | 1.8 yr |
| NVDANVIDIA Corporation | $0M | 1.2% | +60.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure30.1%-5.7pp$7M
Financial - Capital Markets22.2%+13.8pp$5M
Banks - Diversified15.2%$3M
Drug Manufacturers - General14.5%+12.0pp$3M
Biotechnology5.4%+3.0pp$1M
Medical - Devices3.9%+3.0pp$1M
Semiconductors2.8%$1M
Medical - Pharmaceuticals2.3%-0.2pp$1M
Medical - Diagnostics & Research1.6%+1.0pp$0M
Medical - Distribution1.1%+0.9pp$0M
Country
BR37.4%+29.1pp
KY30.1%-5.7pp
US30.0%+10.9pp
TW1.6%
CN0.9%
Top 5: 75.6% · Top 10: 85.8% · Top 25: 100.0%
Top buys this quarter · 13
| XP XP Inc. | +$0M |
| LLY Eli Lilly and Company | +$1M |
| ABT Abbott Laboratories | +$0M |
| ABBV AbbVie Inc. | +$1M |
| ISRG Intuitive Surgical, Inc. | +$0M |
| TMO Thermo Fisher Scientific Inc. | +$0M |
| VRTX Vertex Pharmaceuticals Incorpo | +$0M |
| JNJ Johnson & Johnson | +$0M |
| MCK McKesson Corporation | +$0M |
| BSX Boston Scientific Corporation | +$0M |
Top sells this quarter · 15
| NGD New Gold Inc.exit | −$83M |
| STNE StoneCo Ltd. | −$31M |
| SOLS Solstice Advanced Materials Inexit | −$17M |
| RRC Range Resources Corporationexit | −$9M |
| MICC The Magnum Ice Cream Company Nexit | −$3M |
| SCHL Scholastic Corporationexit | −$1M |
| NU Nu Holdings Ltd. | −$1M |
| SCCO Southern Copper Corporationexit | −$1M |
| INTR Inter & Co, Inc.exit | −$1M |
| GGAL Grupo Financiero Galicia S.A.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $22M | 23 | +79.15% | +17.59% | +61.56% | -0.15B |
| 2025-12-31 | $169M | 44 | +71.59% | +17.72% | +53.87% | -0.01B |
| 2025-09-30 | $171M | 32 | +81.58% | +17.52% | +64.06% | -0.09B |
| 2025-06-30 | $204M | 45 | +47.56% | +14.94% | +32.62% | +0.03B |
| 2025-03-31 | $131M | 34 | +1.00% | +8.30% | -7.30% | +0.09B |
| 2024-12-31 | $44M | 39 | +24.13% | +24.89% | -0.75% | -0.01B |
| 2024-09-30 | $51M | 39 | +29.11% | +36.04% | -6.93% | -0.03B |
| 2024-06-30 | $79M | 40 | +27.83% | +24.49% | +3.34% | -0.03B |
| 2024-03-31 | $115M | 56 | +94.78% | +29.62% | +65.15% | -0.09B |
| 2023-12-31 | $167M | 53 | +56.85% | +26.18% | +30.67% | -0.01B |
| 2023-09-30 | $158M | 50 | +34.33% | +21.57% | +12.77% | +0.02B |
| 2023-06-30 | $140M | 59 | +67.44% | +19.42% | +48.01% | +0.05B |
| 2023-03-31 | $65M | 34 | +0.72% | -7.82% | +8.54% | -0.07B |
| 2022-12-31 | $138M | 55 | -3.30% | +7.56% | -10.86% | +0.02B |
| 2022-09-30 | $117M | 50 | +25.98% | -4.93% | +30.91% | -0.05B |
| 2022-06-30 | $131M | 53 | -14.58% | -16.11% | +1.53% | -0.02B |