Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-22.19%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.24%
baseline attrition
Rally response
-23.45%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GLDMSPDR Gold MiniShares Tru | $55M | 16.9% | — | 0.5 yr |
| SLViShares Silver Trust | $31M | 9.5% | — | 0.8 yr |
| IBITiShares Bitcoin Trust ET | $25M | 7.7% | — | 1.8 yr |
| NVDANVIDIA Corporation | $20M | 6.1% | +60.9% | 3.3 yr |
| AMZNAmazon.com, Inc. | $16M | 4.9% | +9.5% | 4.3 yr |
| — | $14M | 4.2% | — | 1.0 yr |
| TSMTaiwan Semiconductor Man | $13M | 4.1% | +105.6% | 2.0 yr |
| BABAAlibaba Group Holding Li | $13M | 4.1% | -3.5% | 4.0 yr |
| CCEPCoca-Cola Europacific Pa | $13M | 4.0% | +6.9% | 5.8 yr |
| NUNu Holdings Ltd. | $13M | 4.0% | +40.3% | 1.8 yr |
| BAThe Boeing Company | $9M | 2.8% | +16.7% | 2.3 yr |
| CCitigroup Inc. | $9M | 2.8% | +63.9% | 3.0 yr |
| MDLZMondelez International, | $9M | 2.7% | -13.0% | 5.8 yr |
| MSFTMicrosoft Corporation | $9M | 2.7% | -0.6% | 10.3 yr |
| DPZDomino's Pizza, Inc. | $9M | 2.7% | -20.6% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management34.7%+22.7pp$113M
Semiconductors10.2%+3.2pp$33M
Specialty Retail9.0%-1.0pp$29M
Banks - Diversified6.7%-0.8pp$22M
Unknown5.2%+3.8pp$17M
Beverages - Non-Alcoholic4.0%-3.3pp$13M
Software - Infrastructure2.9%-2.7pp$9M
Aerospace & Defense2.8%-9.7pp$9M
Food Confectioners2.7%$9M
Restaurants2.7%$9M
Country
US68.7%-6.4pp
BR10.2%+8.9pp
Unknown5.2%+3.8pp
TW4.1%+1.7pp
CN4.1%-0.7pp
GB4.0%-3.8pp
CA2.7%-2.7pp
AR0.5%+0.2pp
Top 5: 45.1% · Top 10: 65.4% · Top 25: 95.1%
Top buys this quarter · 15
| NU Nu Holdings Ltd. | +$6M |
| AGBK AGI Incnew | +$6M |
| PBR Petróleo Brasileiro S.A. - Pe | +$4M |
| FCX Freeport-McMoRan Inc. | +$4M |
| AUGO Aura Mineralsnew | +$4M |
| APP AppLovin Corporationnew | +$3M |
| XP XP Inc. | +$3M |
| BABA Alibaba Group Holding Limited | +$2M |
| NVDA NVIDIA Corporation | +$2M |
| ISRG Intuitive Surgical, Inc. | +$9M |
Top sells this quarter · 15
| UNP Union Pacific Corporationexit | −$10M |
| META Meta Platforms, Inc. | −$9M |
| GOOG Alphabet Inc.exit | −$9M |
| MSFT Microsoft Corporation | −$6M |
| COF Capital One Financial Corporat | −$5M |
| MDLZ Mondelez International, Inc. | −$5M |
| LOW Lowe's Companies, Inc.exit | −$4M |
| GFL GFL Environmental Inc. | −$4M |
| LLY Eli Lilly and Company | −$4M |
| TSM Taiwan Semiconductor Manufactu | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $326M | 40 | +17.89% | +17.59% | +0.30% | +0.04B |
| 2025-12-31 | $312M | 27 | +23.77% | +17.72% | +6.05% | -0.06B |
| 2025-09-30 | $351M | 43 | +16.50% | +17.52% | -1.01% | +0.11B |
| 2025-06-30 | $228M | 35 | +23.08% | +14.94% | +8.14% | +0.03B |
| 2025-03-31 | $175M | 30 | +9.80% | +8.30% | +1.49% | -0.05B |
| 2024-12-31 | $232M | 36 | +36.94% | +24.89% | +12.05% | +0.01B |
| 2024-09-30 | $215M | 31 | +53.21% | +36.04% | +17.18% | -0.02B |
| 2024-06-30 | $212M | 25 | +40.79% | +24.49% | +16.30% | -0.05B |
| 2024-03-31 | $264M | 28 | +59.83% | +29.62% | +30.20% | -0.04B |
| 2023-12-31 | $250M | 27 | +39.26% | +26.18% | +13.08% | -0.03B |
| 2023-09-30 | $249M | 26 | +29.77% | +21.57% | +8.21% | -0.15B |
| 2023-06-30 | $393M | 25 | +24.99% | +19.42% | +5.57% | +0.04B |
| 2023-03-31 | $307M | 24 | +1.07% | -7.82% | +8.89% | +0.02B |
| 2022-12-31 | $265M | 25 | +5.32% | +7.56% | -2.24% | -0.03B |
| 2022-09-30 | $276M | 34 | -2.49% | -4.93% | +2.44% | -0.07B |
| 2022-06-30 | $356M | 36 | -7.57% | -16.11% | +8.54% | -0.11B |