Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.23%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.48%
baseline attrition
Rally response
-5.93%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GLDSPDR Gold Shares | $169M | 12.4% | — | 8.3 yr |
| IAUiShares Gold Trust | $155M | 11.4% | — | 5.0 yr |
| LITELumentum Holdings Inc. | $58M | 4.3% | +1027.3% | 5.3 yr |
| COHRCoherent, Inc. | $56M | 4.1% | +266.8% | 3.8 yr |
| VRTVertiv Holdings Co | $55M | 4.0% | +247.5% | 3.0 yr |
| GOOGLAlphabet Inc. | $54M | 4.0% | — | 8.3 yr |
| TAT&T Inc. | $39M | 2.9% | +5.9% | 8.0 yr |
| AVGOBroadcom Inc. | $32M | 2.4% | +86.0% | 8.0 yr |
| RTXRTX Corporation | $30M | 2.2% | +48.1% | 6.0 yr |
| PFEPfizer Inc. | $27M | 2.0% | +18.8% | 8.3 yr |
| SLMSLM Corporation | $27M | 2.0% | -25.7% | 5.3 yr |
| CSCOCisco Systems, Inc. | $27M | 2.0% | +28.1% | 8.3 yr |
| XPOXPO Logistics, Inc. | $26M | 1.9% | +80.8% | 6.3 yr |
| KDKyndryl Holdings, Inc. | $25M | 1.9% | -58.2% | 4.5 yr |
| BMYBristol-Myers Squibb Com | $24M | 1.7% | +3.4% | 8.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management27.0%-2.2pp$368M
Communication Equipment6.3%+2.4pp$85M
Hardware, Equipment & Parts4.8%+1.6pp$65M
Drug Manufacturers - General4.8%-0.2pp$65M
Telecommunications Services4.5%-1.2pp$61M
Semiconductors4.3%+2.0pp$59M
Internet Content & Information4.2%+0.6pp$58M
Electrical Equipment & Parts4.0%+1.8pp$55M
Software - Application3.4%+1.8pp$47M
Financial - Credit Services3.0%-1.3pp$41M
Country
US91.9%+3.3pp
Unknown1.8%-0.3pp
CN1.5%-0.5pp
JP1.3%-0.6pp
BM1.2%-0.8pp
CH1.1%-0.8pp
CA0.7%-0.1pp
IE0.3%-0.1pp
Top 5: 36.3% · Top 10: 49.7% · Top 25: 74.2%
Top buys this quarter · 15
| ADBE Adobe Inc.new | +$17M |
| KD Kyndryl Holdings, Inc. | +$25M |
| SLM SLM Corporation | +$27M |
| ADT ADT Inc. | +$4M |
| UBER Uber Technologies, Inc. | +$4M |
| SONY Sony Group Corporation | +$17M |
| MQ Marqeta, Inc. | +$2M |
| BIO Bio-Rad Laboratories, Inc. | +$2M |
| UNH UnitedHealth Group Incorporate | +$19M |
| BABA Alibaba Group Holding Limited | +$21M |
Top sells this quarter · 14
| LITE Lumentum Holdings Inc. | −$44M |
| VRT Vertiv Holdings Co | −$44M |
| COHR Coherent, Inc. | −$50M |
| DXC DXC Technology Company | −$2M |
| VTRS Viatris Inc. | −$19M |
| VZ Verizon Communications Inc. | −$18M |
| LW Lamb Weston Holdings, Inc. | −$0M |
| WMT Walmart Inc. | −$0M |
| HRB H&R Block, Inc.exit | −$0M |
| SLV iShares Silver Trust | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.36B | 118 | +39.75% | +17.59% | +22.16% | -0.05B |
| 2025-12-31 | $1.32B | 114 | +26.16% | +17.72% | +8.44% | -0.00B |
| 2025-09-30 | $1.20B | 116 | +21.53% | +17.52% | +4.02% | +0.03B |
| 2025-06-30 | $1.10B | 119 | +25.74% | +14.94% | +10.79% | -0.01B |
| 2025-03-31 | $990M | 115 | +12.39% | +8.30% | +4.09% | +0.01B |
| 2024-12-31 | $1.01B | 117 | +26.29% | +24.89% | +1.41% | -0.07B |
| 2024-09-30 | $1.02B | 110 | +32.00% | +36.04% | -4.04% | -0.01B |
| 2024-06-30 | $937M | 118 | +13.47% | +24.49% | -11.02% | +0.01B |
| 2024-03-31 | $932M | 119 | +22.34% | +29.62% | -7.28% | -0.02B |
| 2023-12-31 | $883M | 123 | +14.98% | +26.18% | -11.19% | -0.04B |
| 2023-09-30 | $827M | 122 | +12.40% | +21.57% | -9.17% | +0.00B |
| 2023-06-30 | $873M | 127 | +5.22% | +19.42% | -14.20% | -0.06B |
| 2023-03-31 | $870M | 123 | -16.72% | -7.82% | -8.90% | +0.05B |
| 2022-12-31 | $809M | 128 | +8.79% | +7.56% | +1.23% | +0.01B |
| 2022-09-30 | $738M | 131 | -11.42% | -4.93% | -6.49% | +0.00B |
| 2022-06-30 | $832M | 140 | -15.05% | -16.11% | +1.06% | +0.08B |