Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.96%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.47%
baseline attrition
Rally response
-2.07%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $160M | 10.5% | +17.6% | 10.3 yr |
| QQQInvesco QQQ Trust, Serie | $159M | 10.4% | — | 6.8 yr |
| XLFState Street Financial S | $71M | 4.6% | — | 10.0 yr |
| AMZNAmazon.com, Inc. | $60M | 3.9% | +9.5% | 6.8 yr |
| XLIState Street Industrial | $59M | 3.8% | — | 8.8 yr |
| METAMeta Platforms, Inc. | $56M | 3.7% | -0.4% | 8.0 yr |
| XLCState Street Communicati | $51M | 3.3% | — | 7.8 yr |
| SMHVanEck Semiconductor ETF | $44M | 2.9% | — | 1.8 yr |
| NVDANVIDIA Corporation | $42M | 2.8% | +60.9% | 7.5 yr |
| EPIWisdomTree India Earning | $40M | 2.6% | — | 2.3 yr |
| XLVState Street Health Care | $39M | 2.6% | — | 10.3 yr |
| SEDGSolarEdge Technologies, | $34M | 2.2% | +215.5% | 7.8 yr |
| ICLICL Group Ltd | $33M | 2.2% | -6.2% | 5.0 yr |
| PAVEGlobal X - U.S. Infrastr | $33M | 2.2% | — | 4.0 yr |
| MCHIiShares MSCI China ETF | $32M | 2.1% | — | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management62.5%-2.4pp$953M
Semiconductors5.5%+0.4pp$83M
Internet Content & Information5.3%+2.4pp$81M
Specialty Retail3.9%+1.7pp$60M
Financial - Credit Services2.9%-0.8pp$44M
Solar2.2%+2.1pp$34M
Agricultural Inputs2.2%+0.1pp$33M
Asset Management - Global2.2%+0.2pp$33M
Software - Infrastructure2.1%-1.6pp$32M
Software - Application1.7%-1.5pp$26M
Country
US89.4%-2.1pp
IL7.9%+1.0pp
LU1.2%
IE0.8%+0.0pp
CA0.7%
Top 5: 33.3% · Top 10: 48.6% · Top 25: 75.0%
Top buys this quarter · 15
| SEDG SolarEdge Technologies, Inc. | +$28M |
| AMZN Amazon.com, Inc. | +$24M |
| META Meta Platforms, Inc. | +$23M |
| GEV GE Vernova Inc.new | +$23M |
| SPOT Spotify Technology S.A.new | +$18M |
| NVDA NVIDIA Corporation | +$17M |
| ONDS Ondas Holdings Inc.new | +$17M |
| BWXT BWX Technologies, Inc.new | +$15M |
| APO Apollo Global Management, Inc. | +$13M |
| KKR KKR & Co. Inc. | +$10M |
Top sells this quarter · 15
| VST Vistra Corp.exit | −$18M |
| CARR Carrier Global Corporationexit | −$15M |
| COST Costco Wholesale Corporation | −$15M |
| CAMT Camtek Ltd.exit | −$13M |
| CRM Salesforce, Inc.exit | −$13M |
| NKE NIKE, Inc.exit | −$11M |
| EQT EQT Corporationexit | −$11M |
| ADBE Adobe Inc.exit | −$9M |
| SPY State Street SPDR S&P 500 ETF | −$8M |
| NEE NextEra Energy, Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.53B | 55 | +15.55% | +17.59% | -2.04% | +0.07B |
| 2025-12-31 | $1.53B | 59 | +12.58% | +17.72% | -5.14% | +0.07B |
| 2025-09-30 | $1.48B | 60 | +20.42% | +17.52% | +2.90% | -0.01B |
| 2025-06-30 | $1.38B | 59 | +22.15% | +14.94% | +7.21% | -0.01B |
| 2025-03-31 | $1.22B | 63 | +8.35% | +8.30% | +0.04% | +0.05B |
| 2024-12-31 | $1.27B | 58 | +27.06% | +24.89% | +2.18% | -0.01B |
| 2024-09-30 | $1.20B | 57 | +31.80% | +36.04% | -4.24% | -0.01B |
| 2024-06-30 | $1.11B | 57 | +12.75% | +24.49% | -11.74% | -0.05B |
| 2024-03-31 | $1.15B | 57 | +20.64% | +29.62% | -8.98% | -0.44B |
| 2023-12-31 | $1.46B | 76 | +23.86% | +26.18% | -2.32% | -0.03B |
| 2023-09-30 | $1.36B | 82 | +17.67% | +21.57% | -3.90% | +0.04B |
| 2023-06-30 | $1.41B | 91 | +18.08% | +19.42% | -1.34% | +0.07B |
| 2023-03-31 | $1.24B | 92 | -10.94% | -7.82% | -3.12% | -0.12B |
| 2022-12-31 | $1.22B | 95 | -23.97% | -18.17% | -5.79% | -0.03B |
| 2022-09-30 | $1.20B | 94 | -18.92% | -15.51% | -3.41% | +0.01B |
| 2022-06-30 | $1.26B | 90 | -13.19% | -10.62% | -2.57% | +0.09B |