Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.45%
adds when stocks drop
when a holding falls −10%+
Middle response
-14.45%
baseline attrition
Rally response
-27.54%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MBBiShares MBS ETF | $50M | 10.9% | — | 0.8 yr |
| LITELumentum Holdings Inc. | $26M | 5.7% | +1027.3% | 1.0 yr |
| BABAAlibaba Group Holding Li | $24M | 5.3% | -3.5% | 1.8 yr |
| GOOGLAlphabet Inc. | $9M | 2.0% | — | 1.5 yr |
| METAMeta Platforms, Inc. | $9M | 1.9% | -0.4% | 2.5 yr |
| VLOValero Energy Corporatio | $7M | 1.6% | +92.6% | 1.3 yr |
| MPCMarathon Petroleum Corpo | $7M | 1.6% | +71.2% | 1.3 yr |
| SNDKSandisk Corporation | $7M | 1.6% | +1234.5% | 0.8 yr |
| BZKanzhun Limited | $7M | 1.5% | -29.6% | 4.0 yr |
| SGMLSigma Lithium Corporatio | $6M | 1.4% | +18.7% | 0.8 yr |
| MRVLMarvell Technology, Inc. | $6M | 1.4% | +61.3% | 0.5 yr |
| DKDelek US Holdings, Inc. | $6M | 1.3% | +212.1% | 0.3 yr |
| KEYSKeysight Technologies, I | $6M | 1.3% | +88.5% | 0.3 yr |
| SMHVanEck Semiconductor ETF | $6M | 1.3% | — | 1.0 yr |
| GLWCorning Incorporated | $6M | 1.2% | +201.5% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management13.9%+13.1pp$63M
Semiconductors10.4%+0.3pp$47M
Communication Equipment7.5%+7.0pp$34M
Specialty Retail7.4%-10.0pp$34M
Hardware, Equipment & Parts5.7%+3.7pp$26M
Drug Manufacturers - General4.7%+1.0pp$22M
Oil & Gas Refining & Marketing4.5%$21M
Internet Content & Information4.1%+0.9pp$19M
Aerospace & Defense2.3%$11M
Oil & Gas Midstream2.2%+1.9pp$10M
Country
US70.5%+15.1pp
CN10.1%-20.5pp
TW2.3%-2.2pp
IE2.1%+1.0pp
Unknown1.9%-0.3pp
GB1.7%+0.7pp
IL1.5%
BR1.4%
Top 5: 25.9% · Top 10: 33.6% · Top 25: 51.5%
Top buys this quarter · 15
| BABA Alibaba Group Holding Limited | +$19M |
| META Meta Platforms, Inc. | +$8M |
| DK Delek US Holdings, Inc.new | +$6M |
| KEYS Keysight Technologies, Inc.new | +$6M |
| BZ Kanzhun Limited | +$5M |
| JPM JPMorgan Chase & Co.new | +$5M |
| ASX ASE Technology Holding Co., Ltnew | +$5M |
| FRO Frontline Ltd. | +$5M |
| TCOM Trip.com Group Limited | +$5M |
| NOK Nokia Oyjnew | +$4M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF exit | −$39M |
| NVDA NVIDIA Corporation | −$29M |
| HD The Home Depot, Inc.exit | −$19M |
| BA The Boeing Company | −$19M |
| ARM Arm Holdings plc American Depoexit | −$16M |
| SNDK Sandisk Corporation | −$15M |
| APLD Applied Digital Corporationexit | −$14M |
| QCOM QUALCOMM Incorporatedexit | −$14M |
| AVGO Broadcom Inc. | −$13M |
| GOOG Alphabet Inc.exit | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $455M | 147 | +66.39% | +17.59% | +48.80% | -0.04B |
| 2025-12-31 | $450M | 120 | +45.30% | +17.72% | +27.58% | +0.18B |
| 2025-09-30 | $249M | 138 | +34.95% | +17.52% | +17.43% | +0.07B |
| 2025-06-30 | $141M | 81 | +13.88% | +14.94% | -1.06% | +0.01B |
| 2025-03-31 | $126M | 58 | +9.85% | +8.30% | +1.55% | -0.01B |
| 2024-12-31 | $143M | 47 | +32.95% | +24.89% | +8.06% | +0.06B |
| 2024-09-30 | $82M | 33 | +42.28% | +36.04% | +6.24% | -0.01B |
| 2024-06-30 | $81M | 41 | +28.15% | +24.49% | +3.66% | -0.01B |
| 2024-03-31 | $89M | 31 | +29.73% | +29.62% | +0.10% | +0.04B |
| 2023-12-31 | $44M | 27 | +7.70% | +26.18% | -18.48% | -0.01B |
| 2023-09-30 | $50M | 31 | +1.07% | +21.57% | -20.50% | -0.01B |
| 2023-06-30 | $62M | 33 | +0.28% | +19.42% | -19.15% | -0.02B |
| 2023-03-31 | $76M | 30 | -18.72% | -7.82% | -10.90% | +0.03B |
| 2022-12-31 | $43M | 40 | -18.13% | -18.17% | +0.05% | -0.03B |
| 2022-09-30 | $68M | 47 | -9.50% | -15.51% | +6.01% | -0.05B |
| 2022-06-30 | $123M | 54 | -6.47% | -10.62% | +4.15% | +0.01B |