Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+12.00%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.97%
baseline attrition
Rally response
-8.57%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EQIXEquinix, Inc. | $134M | 8.5% | +23.0% | 6.5 yr |
| SBACSBA Communications Corpo | $100M | 6.4% | -20.0% | 4.5 yr |
| DOXAmdocs Limited | $96M | 6.1% | -27.3% | 5.5 yr |
| TAT&T Inc. | $86M | 5.5% | +5.9% | 3.0 yr |
| AMZNAmazon.com, Inc. | $62M | 4.0% | +9.5% | 1.3 yr |
| ANETArista Networks, Inc. | $62M | 3.9% | +58.5% | 1.5 yr |
| HPEHewlett Packard Enterpri | $56M | 3.6% | +57.2% | 1.8 yr |
| NVDANVIDIA Corporation | $53M | 3.4% | +60.9% | 1.3 yr |
| LYVLive Nation Entertainmen | $52M | 3.3% | +16.8% | 2.0 yr |
| VRTVertiv Holdings Co | $52M | 3.3% | +247.5% | 4.3 yr |
| IRMIron Mountain Incorporat | $51M | 3.3% | +22.9% | 0.3 yr |
| CIENCiena Corporation | $51M | 3.3% | +542.4% | 5.3 yr |
| PWRQuanta Services, Inc. | $49M | 3.1% | +116.2% | 2.3 yr |
| LITELumentum Holdings Inc. | $48M | 3.0% | +1027.3% | 4.3 yr |
| NFLXNetflix, Inc. | $47M | 3.0% | +3.1% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
REIT - Specialty20.1%-18.4pp$317M
Entertainment13.8%+4.6pp$217M
Telecommunications Services11.9%-0.7pp$188M
Computer Hardware10.2%+4.7pp$160M
Semiconductors7.6%+4.0pp$120M
Communication Equipment6.3%-1.2pp$99M
Software - Infrastructure6.1%+1.9pp$96M
Electrical Equipment & Parts5.6%+2.7pp$89M
Specialty Retail4.0%+1.4pp$62M
Engineering & Construction3.1%+0.7pp$49M
Country
US93.3%+3.7pp
CA3.2%+0.6pp
SG2.7%+0.5pp
Unknown0.8%-1.9pp
Top 5: 30.4% · Top 10: 47.9% · Top 25: 87.6%
Top buys this quarter · 15
| IRM Iron Mountain Incorporatednew | +$51M |
| NFLX Netflix, Inc. | +$45M |
| SMTC Semtech Corporationnew | +$43M |
| DOX Amdocs Limited | +$31M |
| T AT&T Inc. | +$29M |
| ANET Arista Networks, Inc. | +$20M |
| SBAC SBA Communications Corporation | +$18M |
| NVDA NVIDIA Corporation | +$17M |
| INVH Invitation Homes Inc. | +$16M |
| HPE Hewlett Packard Enterprise Com | +$15M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$46M |
| MRVL Marvell Technology, Inc.exit | −$37M |
| ENTG Entegris, Inc. | −$30M |
| AVGO Broadcom Inc.exit | −$28M |
| STX Seagate Technology Holdings pl | −$22M |
| CIEN Ciena Corporation | −$39M |
| UDR UDR, Inc.exit | −$13M |
| DLR Digital Realty Trust, Inc. | −$9M |
| VRT Vertiv Holdings Co | −$39M |
| KRG Kite Realty Group Trust | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.58B | 59 | +51.61% | +17.59% | +34.01% | +0.14B |
| 2025-12-31 | $1.30B | 60 | +27.75% | +17.72% | +10.03% | +0.01B |
| 2025-09-30 | $1.23B | 62 | +26.80% | +17.52% | +9.28% | +0.06B |
| 2025-06-30 | $998M | 50 | +24.70% | +14.94% | +9.76% | -0.38B |
| 2025-03-31 | $1.23B | 51 | +10.18% | +8.30% | +1.88% | -0.05B |
| 2024-12-31 | $1.37B | 52 | +18.62% | +24.89% | -6.27% | +0.05B |
| 2024-09-30 | $1.27B | 56 | +35.33% | +36.04% | -0.70% | -0.03B |
| 2024-06-30 | $1.13B | 52 | +7.38% | +24.49% | -17.11% | +0.04B |
| 2024-03-31 | $1.10B | 45 | +9.25% | +29.62% | -20.37% | +0.12B |
| 2023-12-31 | $970M | 44 | +13.71% | +26.18% | -12.47% | +0.02B |
| 2023-09-30 | $802M | 42 | +2.86% | +21.57% | -18.71% | +0.08B |
| 2023-06-30 | $787M | 35 | +0.80% | +19.42% | -18.63% | -0.02B |
| 2023-03-31 | $802M | 33 | -11.46% | -7.82% | -3.64% | +0.10B |
| 2022-12-31 | $674M | 37 | +7.64% | +7.56% | +0.07% | -0.04B |
| 2022-09-30 | $664M | 39 | -10.78% | -4.93% | -5.85% | +0.04B |
| 2022-06-30 | $697M | 43 | -11.74% | -16.11% | +4.37% | +0.04B |