Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.64%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.53%
baseline attrition
Rally response
-33.17%
trims into rallies
when a holding rises +10%+
Top positions · 8
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CRCLCircle Internet Group | $110M | 50.3% | — | 1.0 yr |
| MUMicron Technology, Inc. | $46M | 20.9% | +289.6% | 3.0 yr |
| KORUDirexion Daily MSCI Sout | $20M | 9.1% | — | 0.3 yr |
| SUPXSuperX AI Technology Lim | $17M | 7.8% | -10.8% | 1.3 yr |
| SNDKSandisk Corporation | $13M | 5.8% | +1234.5% | 0.5 yr |
| — | $5M | 2.5% | — | 0.5 yr |
| PDDPDD Holdings Inc. | $5M | 2.3% | -13.7% | 4.5 yr |
| ISPRIspire Technology Inc. | $3M | 1.3% | -32.6% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Financial - Capital Markets50.3%+22.0pp$110M
Semiconductors20.9%+14.4pp$46M
Asset Management - Leveraged9.1%$20M
Software - Infrastructure7.8%+3.2pp$17M
Hardware, Equipment & Parts5.8%$13M
Unknown2.5%$5M
Specialty Retail2.3%+1.1pp$5M
Tobacco1.3%+0.3pp$3M
Country
US87.4%+15.9pp
SG7.8%+6.3pp
Unknown2.5%
IE2.3%
Top 5: 93.9% · Top 10: 100.0% · Top 25: 100.0%
Top sells this quarter · 15
| MU Micron Technology, Inc. | −$35M |
| GOOG Alphabet Inc.exit | −$43M |
| XPEV XPeng Inc.exit | −$27M |
| RBRK Rubrik, Inc.exit | −$5M |
| SUPX SuperX AI Technology Limited | −$5M |
| SNDK Sandisk Corporation | −$6M |
| ACMR ACM Research, Inc.exit | −$2M |
| ISPR Ispire Technology Inc. | −$0M |
| BCI abrdn Bloomberg All Commodity exit | −$0M |
| SIL Global X - Silver Miners ETFexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $219M | 8 | +53.18% | +17.59% | +35.59% | -0.19B |
| 2025-12-31 | $329M | 17 | +10.56% | +17.72% | -7.16% | -0.02B |
| 2025-09-30 | $476M | 14 | +80.69% | +17.52% | +63.17% | -0.04B |
| 2025-06-30 | $415M | 17 | +64.76% | +14.94% | +49.82% | -0.16B |
| 2025-03-31 | $428M | 23 | +29.41% | +8.30% | +21.11% | +0.22B |
| 2024-12-31 | $229M | 16 | +51.00% | +24.89% | +26.11% | -0.18B |
| 2024-09-30 | $342M | 20 | +46.41% | +36.04% | +10.38% | +0.01B |
| 2024-06-30 | $289M | 14 | +71.43% | +24.49% | +46.94% | -0.11B |
| 2024-03-31 | $375M | 18 | +89.52% | +29.62% | +59.90% | +0.10B |
| 2023-12-31 | $266M | 16 | +136.87% | +26.18% | +110.69% | +0.14B |
| 2023-09-30 | $108M | 11 | +117.83% | +21.57% | +96.27% | -0.19B |
| 2023-06-30 | $228M | 20 | +48.98% | +19.42% | +29.56% | +0.07B |
| 2023-03-31 | $134M | 15 | +25.89% | -7.82% | +33.71% | -0.07B |
| 2022-12-31 | $159M | 14 | +7.01% | +7.56% | -0.55% | +0.13B |
| 2022-09-30 | $31M | 8 | -9.19% | -4.93% | -4.26% | -0.09B |
| 2022-06-30 | $128M | 15 | -0.77% | -16.11% | +15.34% | +0.06B |