Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.31%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.95%
baseline attrition
Rally response
-7.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $41M | 5.6% | +9.5% | 10.3 yr |
| GOOGAlphabet Inc. | $36M | 4.8% | +84.3% | 10.5 yr |
| METAMeta Platforms, Inc. | $31M | 4.2% | -0.4% | 10.5 yr |
| NFLXNetflix, Inc. | $30M | 4.1% | +3.1% | 10.5 yr |
| VOOVanguard S&P 500 ETF | $25M | 3.3% | — | 9.0 yr |
| MELIMercadoLibre, Inc. | $21M | 2.8% | -11.4% | 10.5 yr |
| MAMastercard Incorporated | $19M | 2.6% | -8.5% | 10.5 yr |
| VRTXVertex Pharmaceuticals I | $19M | 2.6% | -7.9% | 2.3 yr |
| BKNGBooking Holdings Inc. | $18M | 2.5% | -96.3% | 8.3 yr |
| EQIXEquinix, Inc. | $18M | 2.4% | +23.0% | 7.5 yr |
| TMOThermo Fisher Scientific | $16M | 2.2% | -0.9% | 3.0 yr |
| CRMSalesforce, Inc. | $15M | 2.0% | -30.2% | 9.5 yr |
| PANWPalo Alto Networks, Inc. | $14M | 1.9% | -6.0% | 7.0 yr |
| NOWServiceNow, Inc. | $14M | 1.9% | -34.3% | 0.8 yr |
| SNEXStoneX Group Inc. | $14M | 1.9% | +5.6% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management10.4%+4.7pp$77M
Internet Content & Information9.2%+0.2pp$68M
Specialty Retail8.7%-0.5pp$65M
Software - Application8.1%-0.6pp$60M
Biotechnology5.9%+2.2pp$44M
Software - Infrastructure4.4%-0.5pp$33M
Medical - Diagnostics & Research4.4%+0.7pp$32M
Medical - Devices4.1%+1.3pp$31M
Entertainment4.1%+0.8pp$30M
REIT - Specialty3.6%-0.3pp$27M
Country
US88.8%+0.2pp
UY2.8%-0.5pp
IE1.6%-0.5pp
CA1.4%+0.2pp
KY1.2%+0.6pp
GB1.2%+0.6pp
IL0.9%
TW0.6%+0.2pp
Top 5: 22.0% · Top 10: 34.8% · Top 25: 58.6%
Top buys this quarter · 5
| NOW ServiceNow, Inc. | +$6M |
| RELX RELX Plcnew | +$3M |
| SUNB Sunbelt Rentals Holdings Incnew | +$3M |
| SNEX StoneX Group Inc. | +$14M |
| GOOGL Alphabet Inc. | +$1M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$28M |
| AMZN Amazon.com, Inc. | −$15M |
| META Meta Platforms, Inc. | −$11M |
| MELI MercadoLibre, Inc. | −$8M |
| VRTX Vertex Pharmaceuticals Incorpo | −$7M |
| MA Mastercard Incorporated | −$7M |
| EQIX Equinix, Inc. | −$7M |
| TMO Thermo Fisher Scientific Inc. | −$6M |
| NEE NextEra Energy, Inc. | −$6M |
| CRM Salesforce, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $742M | 110 | -5.82% | +17.59% | -23.41% | -0.20B |
| 2025-12-31 | $1.10B | 111 | +4.71% | +17.72% | -13.01% | -0.18B |
| 2025-09-30 | $1.26B | 112 | +6.88% | +17.52% | -10.63% | -0.15B |
| 2025-06-30 | $1.42B | 113 | +14.25% | +14.94% | -0.69% | -0.15B |
| 2025-03-31 | $1.44B | 112 | +5.52% | +8.30% | -2.78% | -0.16B |
| 2024-12-31 | $1.67B | 119 | +19.16% | +24.89% | -5.72% | -0.12B |
| 2024-09-30 | $1.72B | 108 | +30.98% | +36.04% | -5.06% | -0.07B |
| 2024-06-30 | $1.70B | 110 | +23.54% | +24.49% | -0.96% | +0.01B |
| 2024-03-31 | $1.67B | 110 | +32.49% | +29.62% | +2.87% | -0.08B |
| 2023-12-31 | $1.63B | 114 | +43.00% | +26.18% | +16.82% | -0.05B |
| 2023-09-30 | $1.47B | 108 | +26.39% | +21.57% | +4.82% | +0.02B |
| 2023-06-30 | $1.45B | 109 | +25.10% | +19.42% | +5.67% | -0.02B |
| 2023-03-31 | $1.36B | 98 | -7.98% | -7.82% | -0.16% | -0.03B |
| 2022-12-31 | $1.20B | 117 | +0.66% | +7.56% | -6.90% | -0.09B |
| 2022-09-30 | $1.28B | 119 | -1.30% | -4.93% | +3.63% | -0.03B |
| 2022-06-30 | $1.33B | 109 | -20.30% | -16.11% | -4.19% | -0.34B |