Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.03%
baseline attrition
Rally response
-19.16%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $227M | 13.5% | — | 0.3 yr |
| — | $189M | 11.2% | — | 0.5 yr |
| SPYState Street SPDR S&P 50 | $168M | 10.0% | +17.6% | 5.8 yr |
| — | $75M | 4.5% | — | 0.3 yr |
| CVXChevron Corporation | $70M | 4.1% | +29.2% | 4.8 yr |
| XLEState Street Energy Sele | $61M | 3.6% | — | 4.0 yr |
| METAMeta Platforms, Inc. | $61M | 3.6% | -0.4% | 4.8 yr |
| GOOGAlphabet Inc. | $41M | 2.4% | +84.3% | 6.5 yr |
| XLFState Street Financial S | $37M | 2.2% | — | 4.3 yr |
| HOLXHologic, Inc. | $29M | 1.7% | +22.4% | 1.0 yr |
| AMDAdvanced Micro Devices, | $26M | 1.6% | +98.0% | 6.0 yr |
| XOMExxon Mobil Corporation | $22M | 1.3% | +47.6% | 4.3 yr |
| — | $21M | 1.2% | — | 0.3 yr |
| — | $20M | 1.2% | — | 0.3 yr |
| TERNTerns Pharmaceuticals, I | $20M | 1.2% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown38.2%+36.7pp$643M
Asset Management22.0%-5.4pp$371M
Internet Content & Information7.3%+5.0pp$124M
Oil & Gas Integrated5.4%+4.5pp$92M
Semiconductors3.4%+0.3pp$57M
Biotechnology3.0%+2.0pp$50M
Medical - Instruments & Supplies2.5%$42M
Entertainment1.4%-2.7pp$24M
Software - Infrastructure1.1%-1.9pp$18M
Industrial - Machinery1.0%-0.5pp$17M
Country
US59.4%-33.8pp
Unknown38.2%+36.7pp
CA1.1%-0.2pp
SG0.6%+0.6pp
CN0.5%
GB0.1%-0.8pp
FR0.0%
AE0.0%
Top 5: 43.3% · Top 10: 56.9% · Top 25: 72.2%
Top buys this quarter · 15
| SPY State Street SPDR S&P 500 ETF | +$112M |
| CVX Chevron Corporation | +$69M |
| META Meta Platforms, Inc. | +$61M |
| GOOG Alphabet Inc. | +$31M |
| HOLX Hologic, Inc. | +$22M |
| XOM Exxon Mobil Corporation | +$20M |
| AMD Advanced Micro Devices, Inc. | +$16M |
| UPS United Parcel Service, Inc. | +$11M |
| BX Blackstone Inc. | +$11M |
| AA Alcoa Corporation | +$10M |
Top sells this quarter · 15
| ORCL Oracle Corporationexit | −$13M |
| WMT Walmart Inc.exit | −$11M |
| EXAS Exact Sciences Corporationexit | −$10M |
| GLW Corning Incorporatedexit | −$9M |
| CFLT Confluent, Inc.exit | −$9M |
| LMT Lockheed Martin Corporationexit | −$9M |
| KGS Kodiak Gas Services, Inc.exit | −$6M |
| FIVE Five Below, Inc.exit | −$5M |
| NEM Newmont Corporation | −$5M |
| JNJ Johnson & Johnsonexit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.68B | 158 | +39.88% | +17.59% | +22.29% | +0.95B |
| 2025-12-31 | $751M | 154 | +40.34% | +17.72% | +22.62% | +0.18B |
| 2025-09-30 | $497M | 111 | +19.95% | +17.52% | +2.43% | +0.08B |
| 2025-06-30 | $366M | 179 | +18.03% | +14.94% | +3.09% | -0.10B |
| 2025-03-31 | $419M | 262 | +9.29% | +8.30% | +0.98% | -0.14B |
| 2024-12-31 | $566M | 284 | +17.77% | +24.89% | -7.12% | -0.24B |
| 2024-09-30 | $825M | 280 | +31.57% | +36.04% | -4.47% | +0.16B |
| 2024-06-30 | $593M | 266 | +20.67% | +24.49% | -3.82% | -1.09B |
| 2024-03-31 | $1.63B | 294 | +25.96% | +29.62% | -3.67% | +0.73B |
| 2023-12-31 | $854M | 216 | +26.65% | +26.18% | +0.47% | -0.11B |
| 2023-09-30 | $888M | 271 | +21.77% | +21.57% | +0.21% | +0.18B |
| 2023-06-30 | $691M | 241 | +12.43% | +19.42% | -7.00% | +0.02B |
| 2023-03-31 | $627M | 191 | -12.31% | -7.82% | -4.49% | +0.13B |
| 2022-12-31 | $471M | 202 | -21.28% | -18.17% | -3.10% | -1.75B |
| 2022-09-30 | $2.12B | 433 | -8.80% | -15.51% | +6.71% | +1.62B |
| 2022-06-30 | $536M | 316 | -16.18% | -16.11% | -0.07% | +0.20B |