Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.15%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.56%
baseline attrition
Rally response
-14.79%
trims into rallies
when a holding rises +10%+
Top positions · 28
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $60M | 9.7% | — | 1.8 yr |
| RDDTReddit, Inc. | $60M | 9.6% | +28.4% | 1.8 yr |
| AMZNAmazon.com, Inc. | $47M | 7.6% | +9.5% | 6.3 yr |
| TPRTapestry, Inc. | $38M | 6.2% | +103.3% | 3.8 yr |
| SQBlock, Inc. | $35M | 5.6% | — | 3.3 yr |
| SGSweetgreen, Inc. | $35M | 5.6% | -79.3% | 1.8 yr |
| MYTEMYT Netherlands Parent B | $30M | 4.8% | — | 1.5 yr |
| QXOQXO, Inc. | $28M | 4.5% | +43.4% | 0.5 yr |
| TSLATesla, Inc. | $26M | 4.2% | +43.4% | 0.5 yr |
| REALThe RealReal, Inc. | $24M | 3.9% | +68.5% | 5.0 yr |
| COCOThe Vita Coco Company, I | $21M | 3.4% | +56.3% | 1.8 yr |
| SAMThe Boston Beer Company, | $21M | 3.4% | -3.5% | 1.0 yr |
| ESTAEstablishment Labs Holdi | $20M | 3.2% | +39.1% | 1.0 yr |
| DALDelta Air Lines, Inc. | $19M | 3.1% | +54.5% | 4.0 yr |
| BLDRBuilders FirstSource, In | $16M | 2.7% | -34.1% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Luxury Goods14.9%-10.3pp$92M
Internet Content & Information11.9%+4.1pp$73M
Unknown9.7%+3.7pp$60M
Specialty Retail8.5%-0.2pp$53M
Software - Infrastructure5.6%+1.3pp$35M
Restaurants5.6%+3.7pp$35M
Industrial - Distribution4.5%$28M
Auto - Manufacturers4.2%$26M
Beverages - Non-Alcoholic3.4%-2.4pp$21M
Beverages - Alcoholic3.4%$21M
Country
US75.7%-6.4pp
Unknown9.7%+3.7pp
DE4.8%+0.5pp
CR3.2%
IE2.7%-1.5pp
CH2.5%
CA1.5%
Top 5: 38.8% · Top 10: 61.8% · Top 25: 98.7%
Top buys this quarter · 15
| RDDT Reddit, Inc. | +$33M |
| WOLF Wolfspeed, Inc.new | +$15M |
| SHLS Shoals Technologies Group, Incnew | +$13M |
| DAL Delta Air Lines, Inc. | +$11M |
| QXO QXO, Inc. | +$11M |
| AMZN Amazon.com, Inc. | +$11M |
| DOCU DocuSign, Inc.new | +$11M |
| VFC V.F. Corporation | +$7M |
| BLDR Builders FirstSource, Inc. | +$5M |
| SG Sweetgreen, Inc. | +$35M |
Top sells this quarter · 15
| TPR Tapestry, Inc. | −$13M |
| GPGI GPGI, Inc.exit | −$13M |
| WWW Wolverine World Wide, Inc.exit | −$10M |
| GRMN Garmin Ltd. | −$8M |
| U Unity Software Inc.exit | −$8M |
| Z Zillow Group, Inc. Class C | −$7M |
| YOU Clear Secure, Inc.exit | −$6M |
| AFRM Affirm Holdings, Inc.exit | −$6M |
| GPI Group 1 Automotive, Inc. | −$6M |
| COCO The Vita Coco Company, Inc. | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $618M | 28 | +38.00% | +17.59% | +20.41% | +0.06B |
| 2025-12-31 | $648M | 28 | +33.45% | +17.72% | +15.73% | +0.09B |
| 2025-09-30 | $520M | 24 | +64.67% | +17.52% | +47.15% | -0.19B |
| 2025-06-30 | $557M | 26 | +43.31% | +14.94% | +28.37% | +0.04B |
| 2025-03-31 | $438M | 23 | +14.95% | +8.30% | +6.64% | -0.00B |
| 2024-12-31 | $528M | 28 | +53.05% | +24.89% | +28.17% | -0.07B |
| 2024-09-30 | $459M | 33 | +27.62% | +36.04% | -8.41% | -0.11B |
| 2024-06-30 | $511M | 36 | +8.89% | +24.49% | -15.60% | -0.00B |
| 2024-03-31 | $547M | 37 | +33.41% | +29.62% | +3.79% | +0.07B |
| 2023-12-31 | $430M | 36 | +28.86% | +26.18% | +2.69% | -0.08B |
| 2023-09-30 | $463M | 37 | +18.66% | +21.57% | -2.91% | -0.11B |
| 2023-06-30 | $601M | 41 | +21.11% | +19.42% | +1.69% | -0.05B |
| 2023-03-31 | $568M | 37 | -10.49% | -7.82% | -2.67% | +0.02B |
| 2022-12-31 | $509M | 29 | +0.70% | +7.56% | -6.86% | -0.08B |
| 2022-09-30 | $584M | 38 | -2.87% | -4.93% | +2.06% | -0.07B |
| 2022-06-30 | $671M | 41 | -14.77% | -16.11% | +1.34% | +0.09B |