Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.23%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.16%
baseline attrition
Rally response
-1.01%
trims into rallies
when a holding rises +10%+
Top positions · 14
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LRCXLam Research Corporation | $481M | 35.9% | +196.1% | 1.5 yr |
| KLACKLA Corporation | $458M | 34.1% | +118.2% | 10.0 yr |
| ADIAnalog Devices, Inc. | $148M | 11.1% | +60.2% | 4.8 yr |
| AVGOBroadcom Inc. | $112M | 8.4% | +86.0% | 6.3 yr |
| BMYBristol-Myers Squibb Com | $29M | 2.2% | +3.4% | 6.5 yr |
| DELLDell Technologies Inc. | $21M | 1.6% | +83.4% | 7.3 yr |
| EGANeGain Corporation | $21M | 1.6% | +62.7% | 10.3 yr |
| ASPNAspen Aerogels, Inc. | $18M | 1.3% | -46.5% | 9.8 yr |
| PINSPinterest, Inc. | $16M | 1.2% | -40.8% | 2.3 yr |
| PRGSProgress Software Corpor | $13M | 1.0% | -50.2% | 10.5 yr |
| GRMNGarmin Ltd. | $11M | 0.8% | +8.6% | 6.3 yr |
| CEVACEVA, Inc. | $8M | 0.6% | -27.1% | 10.5 yr |
| ARMArm Holdings plc America | $3M | 0.2% | +41.7% | 0.3 yr |
| INTCIntel Corporation | $1M | 0.1% | +94.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors90.4%+8.5pp$1.21B
Software - Application2.5%-2.7pp$34M
Drug Manufacturers - General2.2%-1.7pp$29M
Computer Hardware1.6%+0.0pp$21M
Construction1.3%-2.4pp$18M
Internet Content & Information1.2%-0.3pp$16M
Hardware, Equipment & Parts0.8%-0.6pp$11M
Country
US98.9%+0.3pp
CH0.8%-0.6pp
GB0.2%
Top 5: 91.6% · Top 10: 98.2% · Top 25: 100.0%
Top buys this quarter · 3
| PINS Pinterest, Inc. | +$16M |
| ARM Arm Holdings plc American Deponew | +$3M |
| ASPN Aspen Aerogels, Inc. | +$3M |
Top sells this quarter · 1
| LRCX Lam Research Corporation | −$409M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.34B | 14 | +101.30% | +17.59% | +83.71% | -0.02B |
| 2025-12-31 | $1.18B | 13 | +65.15% | +17.72% | +47.43% | -0.07B |
| 2025-09-30 | $1.11B | 15 | +27.67% | +17.52% | +10.15% | -0.02B |
| 2025-06-30 | $930M | 15 | +6.75% | +14.94% | -8.19% | -0.03B |
| 2025-03-31 | $751M | 15 | -4.45% | +8.30% | -12.75% | -0.01B |
| 2024-12-31 | $801M | 15 | +10.52% | +24.89% | -14.36% | -0.00B |
| 2024-09-30 | $916M | 15 | +52.79% | +36.04% | +16.75% | -0.07B |
| 2024-06-30 | $976M | 16 | +41.28% | +24.49% | +16.79% | -0.01B |
| 2024-03-31 | $865M | 15 | +31.92% | +29.62% | +2.30% | +0.04B |
| 2023-12-31 | $754M | 14 | +22.98% | +26.18% | -3.20% | +0.03B |
| 2023-09-30 | $599M | 14 | +19.91% | +21.57% | -1.65% | -0.01B |
| 2023-06-30 | $658M | 15 | +16.40% | +19.42% | -3.03% | +0.02B |
| 2023-03-31 | $595M | 15 | -16.13% | -7.82% | -8.31% | +0.02B |
| 2022-12-31 | $559M | 15 | +18.01% | +7.56% | +10.44% | -0.03B |
| 2022-09-30 | $498M | 16 | -9.45% | -4.93% | -4.52% | -0.00B |
| 2022-06-30 | $552M | 16 | -23.20% | -16.11% | -7.09% | +0.01B |