Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.68%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.94%
baseline attrition
Rally response
-22.02%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CCitigroup Inc. | $16M | 17.7% | +63.9% | 5.5 yr |
| GOOGAlphabet Inc. | $14M | 15.2% | +84.3% | 5.5 yr |
| AMZNAmazon.com, Inc. | $12M | 13.6% | +9.5% | 1.5 yr |
| DISThe Walt Disney Company | $7M | 8.1% | -1.3% | 3.0 yr |
| CHWYChewy, Inc. | $5M | 5.9% | -16.9% | 1.5 yr |
| CPNGCoupang, Inc. | $4M | 4.2% | -13.9% | 0.3 yr |
| MTNVail Resorts, Inc. | $3M | 2.8% | -16.1% | 0.8 yr |
| BXBlackstone Inc. | $2M | 2.7% | -14.9% | 0.3 yr |
| ABNBAirbnb, Inc. | $2M | 2.4% | +5.7% | 1.5 yr |
| GOOGLAlphabet Inc. | $2M | 2.3% | — | 1.3 yr |
| CMGChipotle Mexican Grill, | $2M | 2.2% | -36.2% | 1.5 yr |
| MSOSAdvisorShares Pure US Ca | $2M | 2.0% | — | 1.3 yr |
| NOWServiceNow, Inc. | $2M | 2.0% | -34.3% | 0.5 yr |
| ETSYEtsy, Inc. | $2M | 2.0% | +5.9% | 1.5 yr |
| WDAYWorkday, Inc. | $1M | 1.3% | -44.4% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail26.9%+7.5pp$25M
Internet Content & Information18.4%+3.5pp$17M
Banks - Diversified17.7%+0.3pp$16M
Entertainment9.3%-8.3pp$9M
Software - Application6.4%+0.9pp$6M
Asset Management4.7%+2.6pp$4M
Travel Services3.0%-0.4pp$3M
Gambling, Resorts & Casinos2.8%$3M
Restaurants2.2%-2.3pp$2M
Software - Infrastructure1.7%-0.6pp$2M
Country
US91.8%+3.3pp
KR4.2%
CN1.8%-5.8pp
CA1.1%+0.6pp
Unknown0.5%-2.1pp
AU0.4%
RU0.3%-0.0pp
IL0.0%
Top 5: 60.5% · Top 10: 74.9% · Top 25: 93.2%
Top buys this quarter · 15
| CPNG Coupang, Inc.new | +$4M |
| CHWY Chewy, Inc. | +$3M |
| BX Blackstone Inc.new | +$2M |
| NOW ServiceNow, Inc. | +$2M |
| AMZN Amazon.com, Inc. | +$1M |
| WDAY Workday, Inc.new | +$1M |
| MTN Vail Resorts, Inc. | +$1M |
| CMG Chipotle Mexican Grill, Inc. | +$0M |
| TEAM Atlassian Corporationnew | +$0M |
| CELH Celsius Holdings, Inc. | +$0M |
Top sells this quarter · 15
| EWCZ European Wax Center, Inc. | −$2M |
| EAT Brinker International, Inc.exit | −$1M |
| BABA Alibaba Group Holding Limited | −$1M |
| NESR National Energy Services Reuni | −$1M |
| CE Celanese Corporation | −$1M |
| GOOG Alphabet Inc. | −$1M |
| EXPE Expedia Group, Inc. | −$0M |
| HOV Hovnanian Enterprises, Inc.exit | −$0M |
| PCG PG&E Corporationexit | −$0M |
| BAC Bank of America Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $92M | 43 | +24.30% | +17.59% | +6.71% | +0.01B |
| 2025-12-31 | $95M | 49 | +27.64% | +17.72% | +9.93% | +0.01B |
| 2025-09-30 | $83M | 48 | +49.76% | +17.52% | +32.24% | +0.00B |
| 2025-06-30 | $72M | 45 | +38.93% | +10.59% | +28.33% | -0.07B |
| 2025-03-31 | $122M | 57 | +21.79% | +4.06% | +17.73% | +0.00B |
| 2024-12-31 | $127M | 53 | +26.62% | +2.49% | +24.13% | +0.03B |
| 2019-09-30 | $74M | 58 | +1.75% | +1.75% | -0.00% | -0.01B |
| 2019-06-30 | $84M | 67 | +2.31% | +4.23% | -1.91% | +0.01B |
| 2019-03-31 | $72M | 63 | — | — | — | -0.00B |
| 2018-12-31 | $74M | 64 | +2.90% | -4.56% | +7.47% | -0.03B |
| 2018-09-30 | $106M | 93 | +17.84% | +17.84% | +0.00% | -0.01B |
| 2018-06-30 | $109M | 87 | +14.29% | +14.29% | +0.00% | +0.01B |
| 2018-03-31 | $95M | 84 | +13.76% | +13.76% | +0.00% | -0.00B |
| 2017-12-31 | $97M | 81 | +21.70% | +21.70% | +0.00% | +0.01B |
| 2017-09-30 | $81M | 69 | +18.49% | +18.49% | +0.00% | +0.01B |
| 2017-06-30 | $66M | 52 | +17.77% | +17.77% | +0.00% | -0.01B |