Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-12.76%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.56%
steady accumulation
Rally response
-0.70%
trims into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $529M | 16.0% | +60.9% | 4.0 yr |
| GOOGLAlphabet Inc. | $461M | 14.0% | — | 0.5 yr |
| MSFTMicrosoft Corporation | $282M | 8.6% | -0.6% | 8.8 yr |
| AMZNAmazon.com, Inc. | $245M | 7.4% | +9.5% | 10.5 yr |
| AVGOBroadcom Inc. | $245M | 7.4% | +86.0% | 1.5 yr |
| DASHDoorDash, Inc. | $239M | 7.3% | -17.8% | 4.0 yr |
| ASMLASML Holding N.V. | $181M | 5.5% | +100.9% | 0.8 yr |
| SESea Limited | $147M | 4.5% | -36.5% | 5.3 yr |
| METAMeta Platforms, Inc. | $147M | 4.5% | -0.4% | 9.5 yr |
| TSLATesla, Inc. | $138M | 4.2% | +43.4% | 1.3 yr |
| NOWServiceNow, Inc. | $119M | 3.6% | -34.3% | 10.5 yr |
| NTSKNetskope, Inc. Class A C | $93M | 2.8% | — | 0.5 yr |
| SNOWSnowflake Inc. | $81M | 2.4% | +3.2% | 3.5 yr |
| CHYMChime Financial, Inc. Cl | $78M | 2.4% | — | 1.0 yr |
| TTANServiceTitan, Inc. | $78M | 2.4% | -33.3% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors29.0%+12.0pp$956M
Internet Content & Information27.3%+6.3pp$900M
Specialty Retail12.2%-10.4pp$403M
Software - Infrastructure8.6%-0.7pp$282M
Software - Application8.4%-20.3pp$279M
Auto - Manufacturers4.2%$138M
Software - Services2.8%$93M
Banks - Regional2.4%$78M
Unknown2.1%$69M
Communication Equipment1.9%$62M
Country
US88.0%+21.7pp
NL5.5%
SG4.5%-3.7pp
Unknown2.1%
Top 5: 53.4% · Top 10: 79.3% · Top 25: 100.0%
Top buys this quarter · 4
| NTSK Netskope, Inc. Class A Common | +$90M |
| SNDK Sandisk Corporationnew | +$40M |
| AVGO Broadcom Inc. | +$245M |
| CRDO Credo Technology Group Holding | +$62M |
Top sells this quarter · 10
| ASML ASML Holding N.V. | −$120M |
| CVNA Carvana Co.exit | −$65M |
| META Meta Platforms, Inc. | −$51M |
| NVDA NVIDIA Corporation | −$51M |
| SNOW Snowflake Inc. | −$40M |
| MSFT Microsoft Corporation | −$33M |
| Z Zillow Group, Inc. Class C | −$30M |
| AMZN Amazon.com, Inc. | −$23M |
| TSLA Tesla, Inc. | −$13M |
| CHYM Chime Financial, Inc. Class A | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.30B | 21 | +7.85% | +17.59% | -9.74% | -0.30B |
| 2025-12-31 | $4.39B | 20 | +19.36% | +17.72% | +1.64% | -0.50B |
| 2025-09-30 | $5.12B | 24 | +36.01% | +17.52% | +18.50% | -0.06B |
| 2025-06-30 | $4.77B | 20 | +32.12% | +14.94% | +17.18% | +0.37B |
| 2025-03-31 | $3.47B | 15 | +7.45% | +8.30% | -0.85% | -1.43B |
| 2024-12-31 | $5.41B | 23 | +38.43% | +24.89% | +13.55% | +0.41B |
| 2024-09-30 | $4.59B | 15 | +52.66% | +36.04% | +16.63% | -0.82B |
| 2024-06-30 | $5.12B | 19 | +36.59% | +24.49% | +12.10% | -0.32B |
| 2024-03-31 | $5.28B | 19 | +58.19% | +29.62% | +28.57% | +0.05B |
| 2023-12-31 | $4.48B | 21 | +76.84% | +26.18% | +50.67% | -0.14B |
| 2023-09-30 | $3.85B | 26 | +35.34% | +21.57% | +13.77% | -0.16B |
| 2023-06-30 | $4.24B | 26 | +33.77% | +19.42% | +14.35% | -0.10B |
| 2023-03-31 | $3.64B | 25 | -28.07% | -7.82% | -20.25% | -0.05B |
| 2022-12-31 | $2.83B | 24 | -8.12% | +7.56% | -15.68% | +0.11B |
| 2022-09-30 | $2.96B | 26 | -6.61% | -4.93% | -1.68% | -0.29B |
| 2022-06-30 | $3.48B | 25 | -35.80% | -16.11% | -19.69% | -0.67B |