Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+9.16%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.05%
steady accumulation
Rally response
-5.36%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TEVATeva Pharmaceutical Indu | $836M | 16.6% | +96.0% | 4.0 yr |
| CVNACarvana Co. | $801M | 15.9% | +50.4% | 3.3 yr |
| PSKYParamount Skydance Corpo | $417M | 8.3% | — | 0.8 yr |
| VALValaris Limited | $363M | 7.2% | +149.7% | 5.0 yr |
| NGNovaGold Resources Inc. | $331M | 6.6% | +207.5% | 8.3 yr |
| RRCRange Resources Corporat | $325M | 6.4% | +14.2% | 6.5 yr |
| — | $280M | 5.5% | — | 3.3 yr |
| SLBSLB N.V. | $279M | 5.5% | +26.7% | 6.5 yr |
| SBSWSibanye Stillwater Limit | $246M | 4.9% | +175.0% | 3.5 yr |
| GDXJVanEck Junior Gold Miner | $239M | 4.7% | — | 6.5 yr |
| AGFirst Majestic Silver Co | $215M | 4.3% | +221.6% | 1.3 yr |
| NVDANVIDIA Corporation | $107M | 2.1% | +60.9% | 3.0 yr |
| TSMTaiwan Semiconductor Man | $94M | 1.9% | +105.6% | 2.3 yr |
| TEMTempus AI, Inc. | $64M | 1.3% | -6.3% | 2.0 yr |
| NETCloudflare, Inc. | $62M | 1.2% | +83.1% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - Specialty & Generic16.6%+5.4pp$836M
Auto - Dealerships15.9%-6.2pp$801M
Oil & Gas Equipment & Services12.7%+4.6pp$642M
Gold11.5%-1.7pp$580M
Entertainment8.3%-6.1pp$417M
Oil & Gas Exploration & Production6.4%-0.9pp$325M
Unknown5.5%-1.3pp$280M
Asset Management4.8%+0.9pp$244M
Silver4.3%+2.6pp$215M
Semiconductors4.0%+2.1pp$201M
Country
US51.3%-9.6pp
IL16.6%+5.4pp
CA10.8%+7.3pp
BM7.2%+3.5pp
Unknown5.5%-1.3pp
ZA4.9%-6.6pp
TW1.9%+1.1pp
UY0.8%+0.1pp
Top 5: 54.5% · Top 10: 81.7% · Top 25: 99.2%
Top buys this quarter · 15
| SLB SLB N.V. | +$64M |
| NET Cloudflare, Inc. | +$26M |
| NVDA NVIDIA Corporation | +$17M |
| NG NovaGold Resources Inc. | +$15M |
| MRNA Moderna, Inc. | +$13M |
| TEM Tempus AI, Inc. | +$64M |
| ISRG Intuitive Surgical, Inc. | +$61M |
| NOW ServiceNow, Inc. | +$41M |
| MELI MercadoLibre, Inc. | +$7M |
| AUR Aurora Innovation, Inc. | +$6M |
Top sells this quarter · 15
| SBSW Sibanye Stillwater Limited | −$109M |
| CVNA Carvana Co. | −$97M |
| HMY Harmony Gold Mining Company Li | −$73M |
| MSFT Microsoft Corporation | −$28M |
| TEVA Teva Pharmaceutical Industries | −$20M |
| PSKY Paramount Skydance Corporation | −$10M |
| H Hyatt Hotels Corporationexit | −$9M |
| PONY Pony AI Inc. American Deposita | −$7M |
| VRT Vertiv Holdings Coexit | −$4M |
| PRMB Primo Brands Corporationexit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.04B | 34 | +50.80% | +17.59% | +33.21% | -0.22B |
| 2025-12-31 | $5.67B | 38 | +61.16% | +17.72% | +43.44% | -0.04B |
| 2025-09-30 | $5.34B | 34 | +58.67% | +17.52% | +41.16% | -0.26B |
| 2025-06-30 | $4.65B | 42 | +41.93% | +14.94% | +26.99% | -0.18B |
| 2025-03-31 | $3.83B | 44 | +25.01% | +8.30% | +16.71% | +0.13B |
| 2024-12-31 | $3.73B | 53 | +53.95% | +24.89% | +29.06% | +0.08B |
| 2024-09-30 | $3.47B | 46 | +53.69% | +36.04% | +17.65% | +0.26B |
| 2024-06-30 | $2.98B | 50 | +68.23% | +24.49% | +43.74% | +0.32B |
| 2024-03-31 | $2.39B | 47 | +60.24% | +29.62% | +30.61% | -0.15B |
| 2023-12-31 | $2.08B | 34 | +51.84% | +26.18% | +25.67% | +0.12B |
| 2023-09-30 | $1.86B | 33 | +99.25% | +21.57% | +77.68% | +0.04B |
| 2023-06-30 | $1.55B | 33 | +42.64% | +19.42% | +23.22% | +0.07B |
| 2023-03-31 | $1.40B | 20 | -6.20% | -7.82% | +1.62% | +0.20B |
| 2022-12-31 | $1.04B | 15 | +37.76% | +7.56% | +30.20% | -0.46B |
| 2022-09-30 | $1.09B | 16 | -15.59% | -4.93% | -10.67% | +0.21B |
| 2022-06-30 | $1.03B | 16 | -30.33% | -16.11% | -14.22% | +0.00B |