Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.92%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.60%
baseline attrition
Rally response
-11.98%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UDMYUdemy, Inc. | $20M | 6.1% | -40.5% | 0.8 yr |
| MRVLMarvell Technology, Inc. | $20M | 6.1% | +61.3% | 3.5 yr |
| HDSNHudson Technologies, Inc | $19M | 5.8% | -4.7% | 4.5 yr |
| CSCOCisco Systems, Inc. | $17M | 5.4% | +28.1% | 0.5 yr |
| LUMNLumen Technologies, Inc. | $15M | 4.7% | +77.3% | 1.5 yr |
| FRSHFreshworks Inc. | $15M | 4.7% | -43.1% | 2.0 yr |
| ENPHEnphase Energy, Inc. | $15M | 4.7% | -39.1% | 0.5 yr |
| NOKNokia Oyj | $14M | 4.5% | +57.0% | 0.5 yr |
| VIAVViavi Solutions Inc. | $14M | 4.4% | +197.4% | 3.8 yr |
| — | $13M | 4.0% | — | 3.8 yr |
| FLRFluor Corporation | $12M | 3.6% | +30.2% | 1.8 yr |
| BLBlackLine, Inc. | $11M | 3.5% | -23.6% | 1.5 yr |
| MTRXMatrix Service Company | $11M | 3.4% | -7.6% | 3.5 yr |
| — | $10M | 3.1% | — | 2.0 yr |
| CGNTCognyte Software Ltd. | $10M | 3.1% | +3.8% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application15.7%-4.0pp$51M
Communication Equipment14.2%+0.2pp$46M
Semiconductors10.5%+6.3pp$34M
Education & Training Services9.2%+8.9pp$30M
Unknown9.0%+1.2pp$29M
Engineering & Construction8.5%-1.0pp$28M
Chemicals - Specialty5.8%+2.1pp$19M
Internet Content & Information5.6%-3.1pp$18M
Solar5.5%$18M
Telecommunications Services4.7%-1.4pp$15M
Country
US79.6%-0.7pp
Unknown9.0%+1.2pp
FI4.5%
IL3.1%-0.9pp
CA1.9%
CN1.9%-4.7pp
GB0.0%-1.3pp
Top 5: 28.1% · Top 10: 50.3% · Top 25: 89.5%
Top buys this quarter · 15
| CSCO Cisco Systems, Inc. | +$11M |
| LUMN Lumen Technologies, Inc. | +$10M |
| ENPH Enphase Energy, Inc. | +$9M |
| BL BlackLine, Inc. | +$8M |
| FRSH Freshworks Inc. | +$7M |
| ASAN Asana, Inc. | +$7M |
| FIG Figma, Inc.new | +$5M |
| COUR Coursera, Inc. | +$4M |
| HDSN Hudson Technologies, Inc. | +$4M |
| NOK Nokia Oyj | +$4M |
Top sells this quarter · 15
| VIAV Viavi Solutions Inc. | −$24M |
| AIP Arteris, Inc. | −$14M |
| BE Bloom Energy Corporation | −$14M |
| NKE NIKE, Inc.exit | −$11M |
| UNF UniFirst Corporationexit | −$6M |
| TDC Teradata Corporationexit | −$6M |
| TAC TransAlta Corporation | −$4M |
| ESTC Elastic N.V. | −$3M |
| NWPX NWPX Infrastructure, Inc. | −$3M |
| SNAP Snap Inc.exit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $324M | 36 | +34.09% | +17.59% | +16.50% | -0.01B |
| 2025-12-31 | $332M | 40 | +22.59% | +17.72% | +4.87% | +0.00B |
| 2025-09-30 | $315M | 39 | +38.30% | +17.52% | +20.78% | +0.04B |
| 2025-06-30 | $236M | 38 | +25.66% | +14.94% | +10.72% | +0.01B |
| 2025-03-31 | $209M | 37 | +7.95% | +8.30% | -0.36% | +0.03B |
| 2024-12-31 | $196M | 43 | +23.97% | +24.89% | -0.91% | -0.01B |
| 2024-09-30 | $176M | 40 | +20.44% | +36.04% | -15.60% | -0.02B |
| 2024-06-30 | $184M | 40 | -1.52% | +24.49% | -26.01% | +0.00B |
| 2024-03-31 | $192M | 42 | -10.49% | +29.62% | -40.11% | +0.02B |
| 2023-12-31 | $165M | 43 | -6.47% | +26.18% | -32.65% | +0.01B |
| 2023-09-30 | $135M | 40 | -32.67% | +21.57% | -54.24% | +0.00B |
| 2023-06-30 | $155M | 43 | -32.61% | +19.42% | -52.04% | +0.04B |
| 2023-03-31 | $139M | 43 | -39.83% | -7.82% | -32.01% | +0.00B |
| 2022-12-31 | $127M | 44 | -17.16% | +7.56% | -24.72% | +0.03B |
| 2022-09-30 | $112M | 40 | -13.35% | -4.93% | -8.42% | +0.00B |
| 2022-06-30 | $123M | 45 | -23.23% | -16.11% | -7.12% | +0.02B |