Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.81%
baseline attrition
Rally response
-4.55%
trims into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NTSKNetskope, Inc. Class A C | $48M | 48.4% | — | 0.3 yr |
| BRZEBraze, Inc. | $39M | 39.5% | -34.6% | 4.3 yr |
| KLTRKaltura, Inc. | $10M | 9.8% | -35.1% | 4.8 yr |
| PATHUiPath Inc. | $2M | 2.2% | +7.8% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Services48.4%$48M
Software - Application39.5%-20.8pp$39M
Software - Infrastructure12.0%-27.6pp$12M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| NTSK Netskope, Inc. Class A Common new | +$48M |
Top sells this quarter · 1
| ONTF ON24, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $99M | 4 | -41.56% | +17.59% | -59.16% | +0.05B |
| 2025-12-31 | $74M | 4 | -18.32% | +17.72% | -36.03% | -0.02B |
| 2025-09-30 | $85M | 6 | -7.03% | +17.52% | -24.54% | +0.00B |
| 2025-06-30 | $90M | 6 | -12.95% | +14.94% | -27.90% | -0.00B |
| 2025-03-31 | $105M | 5 | -13.70% | +8.30% | -22.00% | -0.00B |
| 2024-12-31 | $125M | 6 | -15.00% | +24.89% | -39.89% | -0.00B |
| 2024-09-30 | $96M | 6 | -26.13% | +36.04% | -62.17% | -0.01B |
| 2024-06-30 | $118M | 6 | -16.63% | +24.49% | -41.12% | +0.00B |
| 2024-03-31 | $134M | 6 | +21.00% | +29.62% | -8.62% | -0.01B |
| 2023-12-31 | $167M | 7 | +57.35% | +26.18% | +31.17% | -0.03B |
| 2023-09-30 | $174M | 8 | +26.05% | +21.57% | +4.48% | -0.01B |
| 2023-06-30 | $182M | 8 | +33.01% | +19.42% | +13.58% | -0.12B |
| 2023-03-31 | $239M | 9 | -20.65% | -7.82% | -12.83% | -0.07B |
| 2022-12-31 | $285M | 10 | -7.29% | +7.56% | -14.85% | -0.00B |
| 2022-09-30 | $312M | 10 | +4.25% | -4.93% | +9.18% | -0.12B |
| 2022-06-30 | $413M | 11 | -25.32% | -16.11% | -9.21% | +0.01B |