Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.02%
trims when stocks drop
when a holding falls −10%+
Middle response
+5.78%
steady accumulation
Rally response
-5.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ACWIiShares MSCI ACWI ETF | $24M | 13.5% | — | 2.5 yr |
| NVDANVIDIA Corporation | $12M | 7.0% | +60.9% | 3.5 yr |
| IAUiShares Gold Trust | $10M | 6.0% | — | 3.3 yr |
| TLTiShares 20+ Year Treasur | $9M | 4.9% | — | 2.5 yr |
| EPOLiShares MSCI Poland ETF | $6M | 3.2% | — | 2.5 yr |
| EWIiShares MSCI Italy ETF | $5M | 3.1% | — | 1.0 yr |
| EWOiShares MSCI Austria ETF | $5M | 3.1% | — | 1.0 yr |
| EWPiShares MSCI Spain ETF | $5M | 3.0% | — | 0.8 yr |
| FGMFirst Trust Germany Alph | $5M | 2.9% | — | 0.8 yr |
| GREKGlobal X - MSCI Greece E | $5M | 2.8% | — | 1.8 yr |
| SPYState Street SPDR S&P 50 | $5M | 2.7% | +17.6% | 0.8 yr |
| EUFNiShares MSCI Europe Fina | $4M | 2.5% | — | 2.0 yr |
| SBSWSibanye Stillwater Limit | $4M | 2.2% | +175.0% | 0.5 yr |
| SANBanco Santander, S.A. | $4M | 2.2% | +73.5% | 1.0 yr |
| IRENIREN Limited | $3M | 2.0% | +462.9% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management55.4%-5.7pp$97M
Semiconductors8.1%+3.2pp$14M
Asset Management - Bonds7.3%-8.6pp$13M
Asset Management - Income3.7%+1.4pp$7M
Financial - Capital Markets3.7%$7M
Asset Management - Global2.9%+2.8pp$5M
Gold2.4%$4M
Banks - Diversified2.3%+1.2pp$4M
Uranium1.8%+1.3pp$3M
Banks - Regional1.6%$3M
Country
US90.3%-7.9pp
ZA2.2%
ES2.2%
AU2.0%
DE1.7%
Unknown1.0%+0.0pp
TW0.2%
GB0.2%
Top 5: 34.5% · Top 10: 49.4% · Top 25: 76.8%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$4M |
| IREN IREN Limited | +$3M |
| OKLO Oklo Inc. | +$2M |
| LEU Centrus Energy Corp. | +$1M |
| SBSW Sibanye Stillwater Limited | +$4M |
| CSWC Capital Southwest Corporationnew | +$0M |
| WULF TeraWulf Inc. | +$0M |
| CIEN Ciena Corporationnew | +$0M |
| LITE Lumentum Holdings Inc.new | +$0M |
| SERV Serve Robotics Inc.new | +$0M |
Top sells this quarter · 15
| CDE Coeur Mining, Inc. | −$14M |
| NGD New Gold Inc.exit | −$5M |
| BBVA Banco Bilbao Vizcaya Argentariexit | −$3M |
| OXLC Oxford Lane Capital Corp.exit | −$1M |
| HUBB Hubbell Incorporatedexit | −$0M |
| ECCU Eagle Point Credit Company Incexit | −$0M |
| NVO Novo Nordisk A/Sexit | −$0M |
| ABT Abbott Laboratoriesexit | −$0M |
| BMNR Bitmine Immersion Technologiesexit | −$0M |
| PODD Insulet Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $176M | 109 | +42.24% | +17.59% | +24.65% | +0.02B |
| 2025-12-31 | $161M | 105 | +32.57% | +17.72% | +14.85% | +0.01B |
| 2025-09-30 | $155M | 101 | +56.68% | +17.52% | +39.17% | +0.02B |
| 2025-06-30 | $114M | 79 | +33.16% | +14.94% | +18.22% | -0.05B |
| 2025-03-31 | $129M | 74 | +7.17% | +8.30% | -1.13% | +0.00B |
| 2024-12-31 | $141M | 90 | +37.90% | +24.89% | +13.02% | +0.00B |
| 2024-09-30 | $118M | 84 | +33.87% | +36.04% | -2.17% | +0.00B |
| 2024-06-30 | $112M | 91 | +37.66% | +24.49% | +13.17% | -0.01B |
| 2024-03-31 | $117M | 94 | +36.17% | +29.62% | +6.55% | -0.01B |
| 2023-12-31 | $110M | 109 | +27.31% | +26.18% | +1.14% | +0.00B |
| 2023-09-30 | $95M | 72 | +40.16% | +21.57% | +18.59% | -0.02B |
| 2023-06-30 | $115M | 97 | +14.46% | +19.42% | -4.96% | +0.01B |
| 2023-03-31 | $106M | 83 | +1.78% | -7.82% | +9.60% | +0.01B |
| 2022-12-31 | $90M | 81 | +25.59% | +7.56% | +18.03% | +0.04B |
| 2022-09-30 | $41M | 16 | -15.04% | -4.93% | -10.11% | +0.03B |
| 2022-06-30 | $11M | 2 | -9.59% | -16.11% | +6.52% | -0.01B |