Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.42%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.05%
baseline attrition
Rally response
+0.18%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $40M | 4.6% | -0.6% | 8.5 yr |
| NVDANVIDIA Corporation | $34M | 3.9% | +60.9% | 8.5 yr |
| AAPLApple Inc. | $25M | 2.9% | +14.7% | 8.5 yr |
| AMZNAmazon.com, Inc. | $21M | 2.4% | +9.5% | 8.5 yr |
| SLVPiShares MSCI Global Silv | $19M | 2.1% | — | 5.0 yr |
| AVGOBroadcom Inc. | $18M | 2.1% | +86.0% | 8.0 yr |
| SGOLabrdn Physical Gold Shar | $14M | 1.6% | — | 5.3 yr |
| RINGiShares MSCI Global Gold | $14M | 1.5% | — | 8.5 yr |
| BCXBlackrock Resources & Co | $13M | 1.5% | — | 3.5 yr |
| VWOVanguard FTSE Emerging M | $12M | 1.3% | — | 8.5 yr |
| TSLATesla, Inc. | $11M | 1.3% | +43.4% | 6.0 yr |
| SIVRabrdn Physical Silver Sh | $11M | 1.3% | — | 5.0 yr |
| GOOGLAlphabet Inc. | $11M | 1.3% | — | 8.5 yr |
| GOOGAlphabet Inc. | $11M | 1.2% | +84.3% | 8.5 yr |
| MNKDMannKind Corporation | $11M | 1.2% | -51.3% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management26.1%+1.7pp$229M
Semiconductors11.0%+2.1pp$97M
Software - Infrastructure7.9%-1.9pp$69M
Asset Management - Global5.2%+1.7pp$45M
Internet Content & Information3.8%+0.4pp$33M
Consumer Electronics2.9%-0.8pp$26M
Specialty Retail2.9%-1.0pp$25M
Aerospace & Defense2.8%+1.2pp$25M
Drug Manufacturers - General2.7%+0.0pp$23M
Discount Stores2.2%+0.0pp$19M
Country
US92.3%-0.4pp
IE1.4%+0.0pp
CA1.1%+0.4pp
TW1.0%+0.3pp
GB0.7%-0.0pp
NL0.6%-0.0pp
BM0.5%+0.1pp
SG0.4%+0.0pp
Top 5: 15.9% · Top 10: 23.9% · Top 25: 39.7%
Top buys this quarter · 15
| MNKD MannKind Corporation | +$11M |
| AXON Axon Enterprise, Inc. | +$3M |
| CRWV CoreWeave, Inc. Class A Common | +$1M |
| PANW Palo Alto Networks, Inc. | +$1M |
| NOW ServiceNow, Inc. | +$1M |
| CAT Caterpillar Inc. | +$1M |
| AMZN Amazon.com, Inc. | +$21M |
| AMD Advanced Micro Devices, Inc. | +$1M |
| FCX Freeport-McMoRan Inc. | +$1M |
| PINS Pinterest, Inc. | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $876M | 468 | +25.37% | +17.59% | +7.78% | +0.05B |
| 2025-12-31 | $875M | 467 | +22.52% | +17.72% | +4.81% | +0.03B |
| 2025-09-30 | $817M | 451 | +23.25% | +17.52% | +5.73% | +0.03B |
| 2025-06-30 | $714M | 421 | +15.48% | +14.94% | +0.54% | -0.01B |
| 2025-03-31 | $625M | 407 | +3.42% | +8.30% | -4.88% | +0.04B |
| 2024-12-31 | $635M | 420 | +20.93% | +24.89% | -3.96% | -0.02B |
| 2024-09-30 | $632M | 440 | +30.02% | +36.04% | -6.02% | -0.00B |
| 2024-06-30 | $609M | 429 | +20.11% | +24.49% | -4.38% | +0.04B |
| 2024-03-31 | $552M | 399 | +26.11% | +29.62% | -3.51% | +0.02B |
| 2023-12-31 | $496M | 381 | +26.67% | +26.18% | +0.49% | +0.00B |
| 2023-09-30 | $441M | 369 | +20.13% | +21.57% | -1.44% | +0.01B |
| 2023-06-30 | $451M | 362 | +18.78% | +19.42% | -0.64% | -0.01B |
| 2023-03-31 | $426M | 362 | -7.26% | -7.82% | +0.55% | -0.03B |
| 2022-12-31 | $421M | 363 | -18.62% | -18.17% | -0.45% | +0.04B |
| 2022-09-30 | $359M | 353 | -14.94% | -15.51% | +0.56% | -0.01B |
| 2022-06-30 | $387M | 366 | -9.96% | -10.62% | +0.66% | +0.00B |