Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.82%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.93%
baseline attrition
Rally response
-3.01%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $79M | 10.6% | +9.5% | 10.5 yr |
| MRVLMarvell Technology, Inc. | $51M | 6.9% | +61.3% | 0.8 yr |
| BABAAlibaba Group Holding Li | $40M | 5.4% | -3.5% | 9.5 yr |
| CLSCelestica Inc. | $38M | 5.1% | +257.4% | 1.3 yr |
| CRCLCircle Internet Group | $35M | 4.7% | — | 0.5 yr |
| IBNICICI Bank Limited | $33M | 4.5% | -17.3% | 7.3 yr |
| ATATAtour Lifestyle Holdings | $33M | 4.5% | +32.6% | 1.5 yr |
| TSEMTower Semiconductor Ltd. | $33M | 4.4% | +392.1% | 0.3 yr |
| MELIMercadoLibre, Inc. | $32M | 4.3% | -11.4% | 7.3 yr |
| FUTUFutu Holdings Limited | $31M | 4.2% | +33.6% | 5.8 yr |
| RKTRocket Companies, Inc. | $29M | 3.9% | +18.1% | 0.5 yr |
| RDDTReddit, Inc. | $27M | 3.6% | +28.4% | 2.3 yr |
| TASKTaskUs, Inc. | $25M | 3.4% | -50.8% | 3.8 yr |
| OGNOrganon & Co. | $24M | 3.2% | -59.4% | 0.3 yr |
| XPXP Inc. | $22M | 2.9% | +39.9% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail22.2%-15.3pp$165M
Financial - Capital Markets17.0%+12.0pp$126M
Semiconductors13.5%+7.0pp$100M
Internet Content & Information6.2%-4.0pp$46M
Hardware, Equipment & Parts5.1%+2.2pp$38M
Banks - Regional4.5%-3.4pp$33M
Travel Lodging4.5%+0.6pp$33M
Financial - Mortgages3.9%$29M
Medical - Devices3.8%$28M
Information Technology Services3.4%-5.3pp$25M
Country
US62.7%+14.3pp
CN9.9%-0.2pp
CA5.1%+2.2pp
IN4.5%-3.4pp
IL4.4%
UY4.3%-2.7pp
HK4.2%-4.2pp
BR2.9%
Top 5: 32.7% · Top 10: 54.6% · Top 25: 93.2%
Top buys this quarter · 15
| TSEM Tower Semiconductor Ltd.new | +$33M |
| OGN Organon & Co.new | +$24M |
| XP XP Inc.new | +$22M |
| AEVA Aeva Technologies, Inc.new | +$16M |
| SHAK Shake Shack Inc.new | +$16M |
| EA Electronic Arts Inc.new | +$14M |
| SCHW The Charles Schwab Corporationnew | +$14M |
| GS The Goldman Sachs Group, Inc.new | +$14M |
| MSFT Microsoft Corporationnew | +$13M |
| CLS Celestica Inc. | +$12M |
Top sells this quarter · 11
| TTMI TTM Technologies, Inc.exit | −$54M |
| CORZ Core Scientific, Inc.exit | −$42M |
| META Meta Platforms, Inc. | −$16M |
| SMTC Semtech Corporation | −$35M |
| SIMO Silicon Motion Technology Corpexit | −$32M |
| MRVL Marvell Technology, Inc. | −$23M |
| GTLB GitLab Inc.exit | −$21M |
| BKH Black Hills Corporation | −$21M |
| BE Bloom Energy Corporationexit | −$10M |
| COMP Compass, Inc. | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $742M | 30 | +28.70% | +17.59% | +11.11% | -0.02B |
| 2025-12-31 | $782M | 22 | +26.25% | +17.72% | +8.53% | +0.06B |
| 2025-09-30 | $757M | 20 | +47.86% | +17.52% | +30.35% | +0.09B |
| 2025-06-30 | $577M | 21 | +29.88% | +14.94% | +14.94% | -0.04B |
| 2025-03-31 | $513M | 21 | +18.71% | +8.30% | +10.40% | +0.08B |
| 2024-12-31 | $455M | 18 | +23.25% | +24.89% | -1.63% | -0.12B |
| 2024-09-30 | $512M | 17 | +24.23% | +36.04% | -11.80% | +0.02B |
| 2024-06-30 | $486M | 20 | +21.91% | +24.49% | -2.58% | -0.01B |
| 2024-03-31 | $448M | 20 | +10.28% | +29.62% | -19.35% | +0.05B |
| 2023-12-31 | $402M | 21 | +30.97% | +26.18% | +4.79% | -0.08B |
| 2023-09-30 | $432M | 23 | +13.39% | +21.57% | -8.18% | -0.01B |
| 2023-06-30 | $443M | 20 | +7.75% | +19.42% | -11.67% | +0.02B |
| 2023-03-31 | $422M | 20 | -15.67% | -7.82% | -7.85% | +0.07B |
| 2022-12-31 | $301M | 19 | -2.75% | +7.56% | -10.31% | -0.02B |
| 2022-09-30 | $326M | 22 | -5.13% | -4.93% | -0.20% | +0.00B |
| 2022-06-30 | $343M | 21 | -22.07% | -16.11% | -5.96% | +0.07B |