Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.28%
baseline attrition
Rally response
+7.82%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $195M | 8.3% | +60.9% | 8.8 yr |
| AAPLApple Inc. | $163M | 6.9% | +14.7% | 9.5 yr |
| MSFTMicrosoft Corporation | $116M | 4.9% | -0.6% | 9.5 yr |
| GOOGLAlphabet Inc. | $90M | 3.8% | — | 9.5 yr |
| AVGOBroadcom Inc. | $87M | 3.7% | +86.0% | 7.8 yr |
| AMZNAmazon.com, Inc. | $87M | 3.7% | +9.5% | 9.5 yr |
| TSLATesla, Inc. | $73M | 3.1% | +43.4% | 9.5 yr |
| METAMeta Platforms, Inc. | $67M | 2.8% | -0.4% | 9.5 yr |
| GOOGAlphabet Inc. | $66M | 2.8% | +84.3% | 4.0 yr |
| PDDPDD Holdings Inc. | $49M | 2.1% | -13.7% | 6.5 yr |
| MUMicron Technology, Inc. | $47M | 2.0% | +289.6% | 8.3 yr |
| WMTWalmart Inc. | $46M | 2.0% | +42.8% | 6.5 yr |
| COSTCostco Wholesale Corpora | $44M | 1.9% | +5.9% | 9.0 yr |
| AMDAdvanced Micro Devices, | $41M | 1.7% | +98.0% | 9.5 yr |
| — | $39M | 1.7% | — | 8.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors25.5%+7.1pp$599M
Internet Content & Information9.8%+1.1pp$230M
Software - Infrastructure8.2%-1.7pp$192M
Specialty Retail7.0%-1.9pp$164M
Consumer Electronics6.9%-0.7pp$163M
Asset Management5.2%+3.6pp$122M
Discount Stores3.8%+1.7pp$90M
Unknown3.6%+1.9pp$84M
Auto - Manufacturers3.1%-2.5pp$74M
Software - Application2.7%-1.6pp$64M
Country
US87.9%+0.1pp
Unknown3.6%+1.9pp
CN2.4%-1.6pp
IE2.2%-0.0pp
NL1.0%+0.3pp
TW1.0%-0.6pp
CA0.5%+0.3pp
GB0.4%+0.2pp
Top 5: 27.7% · Top 10: 42.2% · Top 25: 63.4%
Top buys this quarter · 15
| WMT Walmart Inc. | +$39M |
| KLAC KLA Corporation | +$9M |
| YUMC Yum China Holdings, Inc. | +$7M |
| PDD PDD Holdings Inc. | +$6M |
| AMAT Applied Materials, Inc. | +$6M |
| AMD Advanced Micro Devices, Inc. | +$4M |
| COST Costco Wholesale Corporation | +$3M |
| MRVL Marvell Technology, Inc. | +$3M |
| FIX Comfort Systems USA, Inc. | +$2M |
| GEV GE Vernova Inc. | +$2M |
Top sells this quarter · 15
| TSLA Tesla, Inc. | −$63M |
| TSM Taiwan Semiconductor Manufactu | −$40M |
| VRTX Vertex Pharmaceuticals Incorpo | −$16M |
| TXN Texas Instruments Incorporated | −$15M |
| WBD Warner Bros. Discovery, Inc. | −$12M |
| VRT Vertiv Holdings Co | −$11M |
| XEL Xcel Energy Inc. | −$9M |
| VST Vistra Corp. | −$6M |
| ZS Zscaler, Inc.exit | −$6M |
| YMM Full Truck Alliance Co. Ltd. | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.35B | 526 | +24.19% | +17.59% | +6.60% | -0.14B |
| 2025-12-31 | $2.66B | 588 | +21.97% | +17.72% | +4.25% | +0.26B |
| 2025-09-30 | $2.36B | 623 | +22.98% | +17.52% | +5.46% | -0.00B |
| 2025-06-30 | $2.12B | 615 | +14.20% | +14.94% | -0.74% | -0.24B |
| 2025-03-31 | $2.02B | 659 | +2.05% | +8.30% | -6.26% | +0.03B |
| 2024-12-31 | $2.16B | 722 | +15.19% | +24.89% | -9.70% | +0.43B |
| 2024-09-30 | $1.68B | 602 | +34.35% | +36.04% | -1.69% | +0.25B |
| 2024-06-30 | $1.38B | 619 | +35.93% | +24.49% | +11.44% | +0.22B |
| 2024-03-31 | $1.11B | 653 | +30.01% | +29.62% | +0.39% | +0.45B |
| 2023-12-31 | $642M | 630 | +36.33% | +26.18% | +10.16% | -0.04B |
| 2023-09-30 | $573M | 627 | +23.88% | +21.57% | +2.31% | +0.05B |
| 2023-06-30 | $497M | 661 | +5.86% | +19.42% | -13.57% | +0.04B |
| 2023-03-31 | $455M | 725 | -6.72% | -7.82% | +1.10% | +0.03B |
| 2022-12-31 | $388M | 745 | +8.52% | +7.56% | +0.96% | +0.01B |
| 2022-09-30 | $345M | 791 | -10.39% | -4.93% | -5.46% | +0.02B |
| 2022-06-30 | $360M | 711 | -12.02% | -16.11% | +4.09% | -0.06B |