Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.06%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.85%
baseline attrition
Rally response
-13.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $178M | 23.7% | +17.6% | 5.3 yr |
| NVDANVIDIA Corporation | $164M | 21.9% | +60.9% | 3.0 yr |
| METAMeta Platforms, Inc. | $85M | 11.3% | -0.4% | 3.3 yr |
| IBITiShares Bitcoin Trust ET | $49M | 6.5% | — | 1.5 yr |
| MSTRStrategy Inc | $39M | 5.2% | -56.7% | 3.3 yr |
| GLDSPDR Gold Shares | $34M | 4.5% | — | 5.5 yr |
| IWMiShares Russell 2000 ETF | $25M | 3.3% | — | 4.8 yr |
| SLVRSprott Silver Miners & P | $22M | 3.0% | — | 1.0 yr |
| SLViShares Silver Trust | $16M | 2.2% | — | 5.3 yr |
| AMDAdvanced Micro Devices, | $14M | 1.8% | +98.0% | 4.3 yr |
| SILGlobal X - Silver Miners | $11M | 1.4% | — | 1.3 yr |
| PLTRPalantir Technologies In | $8M | 1.1% | +73.3% | 3.0 yr |
| SLVPiShares MSCI Global Silv | $6M | 0.7% | — | 0.8 yr |
| AMZNAmazon.com, Inc. | $4M | 0.6% | +9.5% | 4.3 yr |
| SNDKSandisk Corporation | $4M | 0.5% | +1234.5% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.0%+15.8pp$382M
Semiconductors23.9%-5.5pp$179M
Internet Content & Information11.3%+5.9pp$85M
Software - Application5.2%-17.3pp$39M
Asset Management - Global2.6%+2.5pp$20M
Asset Management - Leveraged2.0%+1.5pp$15M
Software - Infrastructure1.2%+1.1pp$9M
Specialty Retail0.6%-2.4pp$4M
Unknown0.6%-0.1pp$4M
Hardware, Equipment & Parts0.5%+0.5pp$4M
Country
US96.2%-2.8pp
CA3.0%+2.9pp
Unknown0.6%-0.1pp
NL0.1%
CN0.0%-0.2pp
DE0.0%+0.0pp
TW0.0%-0.0pp
IE0.0%
Top 5: 68.6% · Top 10: 83.5% · Top 25: 90.9%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$164M |
| NVDA NVIDIA Corporation | +$137M |
| META Meta Platforms, Inc. | +$72M |
| MSTR Strategy Inc | +$18M |
| LITE Lumentum Holdings Inc.new | +$1M |
| ASML ASML Holding N.V.new | +$1M |
| WBS Webster Financial Corporationnew | +$1M |
| ASST Strive, Inc.new | +$0M |
| RGLD Royal Gold, Inc.new | +$0M |
| PONY Pony AI Inc. American Depositanew | +$0M |
Top sells this quarter · 15
| AMD Advanced Micro Devices, Inc. | −$30M |
| SMCI Super Micro Computer, Inc.exit | −$29M |
| AVGO Broadcom Inc.exit | −$27M |
| WDC Western Digital Corporation | −$22M |
| SNDK Sandisk Corporation | −$13M |
| PLTR Palantir Technologies Inc. | −$9M |
| BABA Alibaba Group Holding Limitedexit | −$5M |
| GE GE Aerospaceexit | −$3M |
| GEV GE Vernova Inc.exit | −$3M |
| HUT.TO Hut 8 Mining Corp.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $750M | 221 | +30.26% | +17.59% | +12.67% | +0.22B |
| 2025-12-31 | $540M | 249 | +15.77% | +17.72% | -1.95% | -0.72B |
| 2025-09-30 | $1.25B | 257 | +30.53% | +17.52% | +13.01% | -0.02B |
| 2025-06-30 | $1.27B | 224 | +35.27% | +14.94% | +20.33% | -0.24B |
| 2025-03-31 | $1.15B | 182 | +15.81% | +8.30% | +7.50% | +0.00B |
| 2024-12-31 | $1.31B | 226 | +45.64% | +24.89% | +20.75% | -0.67B |
| 2024-09-30 | $1.74B | 189 | +42.36% | +36.04% | +6.32% | -0.22B |
| 2024-06-30 | $1.90B | 185 | +40.09% | +24.49% | +15.60% | +0.33B |
| 2024-03-31 | $1.40B | 184 | +50.41% | +29.62% | +20.79% | +0.12B |
| 2023-12-31 | $1.16B | 233 | +86.44% | +26.18% | +60.27% | +0.32B |
| 2023-09-30 | $750M | 156 | +21.32% | +21.57% | -0.25% | +0.43B |
| 2023-06-30 | $311M | 230 | +17.84% | +19.42% | -1.59% | +0.04B |
| 2023-03-31 | $227M | 238 | -21.19% | -7.82% | -13.37% | -0.01B |
| 2022-12-31 | $175M | 357 | -43.62% | -18.17% | -25.45% | +0.11B |
| 2022-09-30 | $91M | 100 | -13.88% | -15.51% | +1.62% | +0.01B |
| 2022-06-30 | $84M | 120 | -5.05% | -10.62% | +5.57% | -0.03B |