Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.35%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
+0.00%
adds into rallies
when a holding rises +10%+
Top positions · 8
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NAVNNavan, Inc. | $661M | 66.9% | — | 0.5 yr |
| NOWServiceNow, Inc. | $160M | 16.2% | -34.3% | 0.5 yr |
| PSNLPersonalis, Inc. | $52M | 5.3% | +81.5% | 1.5 yr |
| — | $51M | 5.2% | — | 0.8 yr |
| BLNDBlend Labs, Inc. | $39M | 4.0% | -49.3% | 1.5 yr |
| OLMAOlema Pharmaceuticals, I | $20M | 2.0% | +296.5% | 1.5 yr |
| FIGFigma, Inc. | $4M | 0.4% | — | 0.8 yr |
| DGNXDiginex Limited | $1M | 0.1% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Application87.5%+23.5pp$865M
Medical - Diagnostics & Research5.3%-15.7pp$52M
Unknown5.2%$51M
Biotechnology2.0%-5.9pp$20M
Country
US94.8%+1.8pp
Unknown5.2%
HK0.1%
Top 5: 97.5% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| BLND | $77M | -0.04B | -49.3% |
Top buys this quarter · 1
| DGNX Diginex Limitednew | +$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $988M | 8 | -1.58% | +17.59% | -19.17% | -0.03B |
| 2025-12-31 | $1.40B | 7 | +21.40% | +17.72% | +3.68% | +1.08B |
| 2025-09-30 | $322M | 6 | +13.11% | +8.12% | +4.99% | +0.05B |
| 2025-06-30 | $239M | 6 | +20.85% | +10.78% | +10.07% | +0.07B |
| 2025-03-31 | $136M | 9 | -10.32% | -4.27% | -6.05% | -0.18B |
| 2024-12-31 | $358M | 11 | — | — | — | — |