Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.66%
baseline attrition
Rally response
-4.03%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $12M | 6.3% | +105.6% | 6.5 yr |
| SPLGSPDR Portfolio S&P 500 E | $9M | 4.9% | — | 2.8 yr |
| NVDANVIDIA Corporation | $9M | 4.6% | +60.9% | 8.5 yr |
| LLYEli Lilly and Company | $9M | 4.6% | +12.2% | 8.5 yr |
| VUGVanguard Growth ETF | $8M | 4.0% | — | 8.5 yr |
| GOOGAlphabet Inc. | $7M | 3.8% | +84.3% | 8.5 yr |
| PWRQuanta Services, Inc. | $7M | 3.6% | +116.2% | 2.0 yr |
| MSFTMicrosoft Corporation | $7M | 3.4% | -0.6% | 8.5 yr |
| COSTCostco Wholesale Corpora | $7M | 3.3% | +5.9% | 6.3 yr |
| NVMINova Ltd. | $6M | 3.2% | +135.6% | 5.8 yr |
| AMZNAmazon.com, Inc. | $6M | 3.2% | +9.5% | 8.5 yr |
| VVisa Inc. | $6M | 2.9% | -13.1% | 8.5 yr |
| GOOGLAlphabet Inc. | $5M | 2.7% | — | 8.5 yr |
| SPYState Street SPDR S&P 50 | $5M | 2.6% | +17.6% | 8.5 yr |
| GRMNGarmin Ltd. | $5M | 2.5% | +8.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management21.9%+1.9pp$43M
Semiconductors20.2%+6.0pp$39M
Internet Content & Information8.4%+3.2pp$16M
Drug Manufacturers - General5.6%+0.4pp$11M
Industrial - Machinery4.4%+0.2pp$9M
Discount Stores4.1%+0.3pp$8M
Software - Infrastructure4.0%-1.3pp$8M
Engineering & Construction3.6%+1.2pp$7M
Hardware, Equipment & Parts3.6%-0.4pp$7M
Specialty Retail3.2%+0.0pp$6M
Country
US83.1%-0.5pp
TW6.3%+2.1pp
IL3.2%-0.4pp
CH2.5%+0.1pp
IE1.5%-0.0pp
GB1.4%+0.1pp
LU1.2%+0.2pp
CN0.7%
Top 5: 24.4% · Top 10: 41.8% · Top 25: 74.4%
Top buys this quarter · 15
| GS The Goldman Sachs Group, Inc. | +$2M |
| UTHR United Therapeutics Corporatio | +$2M |
| LRCX Lam Research Corporationnew | +$2M |
| MU Micron Technology, Inc. | +$1M |
| WMT Walmart Inc. | +$0M |
| AVGO Broadcom Inc. | +$3M |
| NI NiSource Inc.new | +$0M |
| ABBV AbbVie Inc. | +$0M |
| CSCO Cisco Systems, Inc. | +$0M |
| BIDU Baidu, Inc. | +$1M |
Top sells this quarter · 15
| WRB W. R. Berkley Corporation | −$3M |
| BMI Badger Meter, Inc.exit | −$2M |
| CARR Carrier Global Corporation | −$2M |
| AMD Advanced Micro Devices, Inc. | −$2M |
| TATT TAT Technologies Ltd.exit | −$1M |
| NVMI Nova Ltd. | −$6M |
| HD The Home Depot, Inc. | −$1M |
| TSM Taiwan Semiconductor Manufactu | −$12M |
| PWR Quanta Services, Inc. | −$6M |
| LLY Eli Lilly and Company | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $195M | 203 | +24.19% | +17.59% | +6.60% | -0.01B |
| 2025-12-31 | $202M | 176 | +16.72% | +17.72% | -1.00% | +0.00B |
| 2025-09-30 | $193M | 173 | +14.49% | +17.52% | -3.03% | -0.01B |
| 2025-06-30 | $193M | 193 | +14.32% | +14.94% | -0.62% | -0.00B |
| 2025-03-31 | $172M | 186 | +5.56% | +8.30% | -2.75% | -0.01B |
| 2024-12-31 | $189M | 196 | +22.36% | +24.89% | -2.53% | +0.01B |
| 2024-09-30 | $183M | 194 | +38.16% | +36.04% | +2.12% | +0.00B |
| 2024-06-30 | $174M | 182 | +30.39% | +24.49% | +5.89% | -0.01B |
| 2024-03-31 | $171M | 192 | +32.47% | +29.62% | +2.85% | -0.01B |
| 2023-12-31 | $161M | 179 | +26.07% | +26.18% | -0.11% | +0.00B |
| 2023-09-30 | $142M | 175 | +24.17% | +21.57% | +2.60% | -0.00B |
| 2023-06-30 | $147M | 180 | +21.61% | +19.42% | +2.18% | -0.01B |
| 2023-03-31 | $149M | 152 | -3.39% | -7.82% | +4.43% | -0.00B |
| 2022-12-31 | $143M | 159 | -12.55% | -18.17% | +5.62% | -0.00B |
| 2022-09-30 | $130M | 162 | -12.79% | -15.51% | +2.72% | +0.00B |
| 2022-06-30 | $135M | 155 | -8.69% | -10.62% | +1.93% | -0.02B |