Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.88%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.60%
baseline attrition
Rally response
-5.85%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LMBSFirst Trust Low Duration | $45M | 8.2% | — | 7.3 yr |
| GLDSPDR Gold Shares | $18M | 3.3% | — | 7.3 yr |
| SLViShares Silver Trust | $13M | 2.5% | — | 5.8 yr |
| SSRMSSR Mining Inc. | $10M | 1.9% | +193.1% | 1.3 yr |
| PLTRPalantir Technologies In | $9M | 1.6% | +73.3% | 2.5 yr |
| AERAerCap Holdings N.V. | $9M | 1.6% | +35.6% | 0.5 yr |
| KTOSKratos Defense & Securit | $8M | 1.5% | +137.5% | 2.3 yr |
| HWMHowmet Aerospace Inc. | $8M | 1.5% | +78.1% | 2.0 yr |
| FTSMFirst Trust Enhanced Sho | $8M | 1.4% | — | 7.3 yr |
| RDVYFirst Trust Rising Divid | $8M | 1.4% | — | 7.5 yr |
| VSATViasat, Inc. | $8M | 1.4% | +339.5% | 0.8 yr |
| LAURLaureate Education, Inc. | $7M | 1.3% | +70.4% | 1.0 yr |
| FDLFirst Trust Morningstar | $7M | 1.2% | — | 7.5 yr |
| LINCLincoln Educational Serv | $6M | 1.2% | +156.3% | 1.3 yr |
| COKECoca-Cola Consolidated, | $6M | 1.2% | +43.1% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management39.7%-16.7pp$217M
Aerospace & Defense7.6%+6.0pp$42M
Biotechnology4.7%+3.6pp$26M
Semiconductors4.0%+1.1pp$22M
Gold3.0%+2.5pp$16M
Hardware, Equipment & Parts2.6%+2.2pp$14M
Communication Equipment2.6%+2.6pp$14M
Education & Training Services2.5%+1.2pp$14M
Software - Infrastructure2.2%-0.3pp$12M
Specialty Retail2.1%+1.9pp$12M
Country
US93.3%-1.0pp
CA2.1%+1.5pp
Unknown1.9%-1.7pp
IE1.6%+1.3pp
TW0.5%+0.3pp
BM0.1%
JP0.1%
KZ0.1%
Top 5: 17.4% · Top 10: 24.9% · Top 25: 41.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $7M | +0.00B | 60.9% |
| PLTR | $6M | +0.00B | 73.3% |
| SSRM | $1M | +0.00B | 193.1% |
| KTOS | $2M | +0.00B | 137.5% |
| HWM | $3M | +0.00B | 78.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| ALMS Alumis Inc. Common Stocknew | +$2M |
| HL Hecla Mining Company | +$2M |
| SSRM SSR Mining Inc. | +$2M |
| VSAT Viasat, Inc. | +$2M |
| WPM Wheaton Precious Metals Corp. | +$2M |
| DTM DT Midstream, Inc. | +$2M |
| TTMI TTM Technologies, Inc. | +$2M |
| AG First Majestic Silver Corp.new | +$2M |
| PL Planet Labs PBC | +$2M |
| PAAS Pan American Silver Corp. | +$2M |
Top sells this quarter · 15
| APP AppLovin Corporationexit | −$5M |
| ADPT Adaptive Biotechnologies Corpoexit | −$5M |
| ASTS AST SpaceMobile, Inc. | −$5M |
| AXON Axon Enterprise, Inc.exit | −$3M |
| GD General Dynamics Corporation | −$3M |
| HCI HCI Group, Inc.exit | −$2M |
| QBTS D-Wave Quantum Inc.exit | −$2M |
| CVNA Carvana Co.exit | −$2M |
| AER AerCap Holdings N.V. | −$2M |
| KTOS Kratos Defense & Security Solu | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $547M | 346 | +52.02% | +17.59% | +34.42% | -0.01B |
| 2025-12-31 | $529M | 325 | +36.78% | +17.72% | +19.06% | +0.02B |
| 2025-09-30 | $497M | 318 | +51.30% | +17.52% | +33.78% | -0.02B |
| 2025-06-30 | $447M | 317 | +45.47% | +14.94% | +30.53% | +0.01B |
| 2025-03-31 | $358M | 274 | +28.24% | +8.30% | +19.93% | -0.03B |
| 2024-12-31 | $408M | 289 | +58.97% | +24.89% | +34.09% | +0.06B |
| 2024-09-30 | $313M | 222 | +42.09% | +36.04% | +6.05% | +0.03B |
| 2024-06-30 | $252M | 183 | +42.94% | +24.49% | +18.45% | -0.02B |
| 2024-03-31 | $249M | 166 | +43.17% | +29.62% | +13.55% | -0.01B |
| 2023-12-31 | $217M | 176 | +33.92% | +26.18% | +7.75% | +0.06B |
| 2023-09-30 | $155M | 139 | +43.49% | +21.57% | +21.92% | -0.04B |
| 2023-06-30 | $175M | 158 | +31.78% | +19.42% | +12.36% | +0.04B |
| 2023-03-31 | $129M | 127 | -6.25% | -7.82% | +1.57% | +0.03B |
| 2022-12-31 | $93M | 117 | -19.22% | -18.17% | -1.04% | +0.01B |
| 2022-09-30 | $81M | 109 | -16.98% | -15.51% | -1.47% | -0.05B |
| 2022-06-30 | $130M | 143 | -18.51% | -10.62% | -7.89% | +0.00B |