Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-29.95%
trims when stocks drop
when a holding falls −10%+
Middle response
-24.37%
baseline attrition
Rally response
-37.51%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| COPXGlobal X - Copper Miners | $9M | 4.0% | — | 1.0 yr |
| CDROCodere Online Luxembourg | $8M | 3.6% | +16.0% | 2.5 yr |
| SEESealed Air Corporation | $6M | 2.8% | +48.7% | 0.8 yr |
| CWANClearwater Analytics Hol | $5M | 2.2% | -11.8% | 1.3 yr |
| FONRFONAR Corporation | $5M | 2.1% | +32.5% | 0.8 yr |
| WIXWix.com Ltd. | $4M | 2.0% | -44.9% | 0.8 yr |
| DEDeere & Company | $4M | 1.9% | +21.2% | 1.8 yr |
| FOLDAmicus Therapeutics, Inc | $4M | 1.8% | +77.2% | 1.3 yr |
| FCRSFutureCrest Acquisition | $4M | 1.7% | — | 0.8 yr |
| CMECME Group Inc. | $4M | 1.7% | +15.6% | 3.3 yr |
| SASeabridge Gold Inc. | $4M | 1.6% | +142.8% | 0.8 yr |
| NSCNorfolk Southern Corpora | $3M | 1.4% | +23.6% | 1.3 yr |
| — | $3M | 1.4% | — | 0.8 yr |
| TERNTerns Pharmaceuticals, I | $3M | 1.3% | — | 0.5 yr |
| WBDWarner Bros. Discovery, | $3M | 1.3% | +155.9% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Unknown10.6%+6.0pp$24M
Asset Management6.4%+0.6pp$14M
Biotechnology6.3%+3.6pp$14M
Semiconductors6.3%+2.5pp$14M
Software - Infrastructure5.1%+1.3pp$11M
Software - Application5.1%-0.6pp$11M
Asset Management - Global4.1%+4.0pp$9M
Gambling, Resorts & Casinos3.9%-0.5pp$9M
Packaging & Containers2.9%+2.8pp$6M
Gold2.6%-0.1pp$6M
Country
US71.3%-1.1pp
Unknown10.5%+5.9pp
LU3.6%+1.8pp
CA3.6%-0.2pp
IL2.4%+0.8pp
GB2.2%-1.7pp
FR1.0%+0.6pp
NL1.0%-0.2pp
Top 5: 14.8% · Top 10: 23.9% · Top 25: 41.3%
Top buys this quarter · 15
| SEE Sealed Air Corporation | +$6M |
| CWAN Clearwater Analytics Holdings, | +$5M |
| FONR FONAR Corporation | +$5M |
| WIX Wix.com Ltd. | +$4M |
| CME CME Group Inc. | +$4M |
| FOLD Amicus Therapeutics, Inc. | +$4M |
| SA Seabridge Gold Inc. | +$3M |
| APLS Apellis Pharmaceuticals, Inc. | +$2M |
| SKYT SkyWater Technology, Inc. | +$2M |
| WBD Warner Bros. Discovery, Inc. | +$2M |
Top sells this quarter · 15
| BMO Bank of Montrealexit | −$14M |
| MPWR Monolithic Power Systems, Inc.exit | −$11M |
| UNH UnitedHealth Group Incorporate | −$9M |
| MS Morgan Stanleyexit | −$7M |
| NVDA NVIDIA Corporation | −$5M |
| PM Philip Morris International Inexit | −$5M |
| EXAS Exact Sciences Corporationexit | −$3M |
| GEV GE Vernova Inc. | −$3M |
| CSCO Cisco Systems, Inc.exit | −$3M |
| ZIM ZIM Integrated Shipping Servic | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $225M | 675 | +35.02% | +17.59% | +17.43% | -0.13B |
| 2025-12-31 | $349M | 770 | +29.08% | +17.72% | +11.36% | +0.03B |
| 2025-09-30 | $307M | 1012 | +24.84% | +17.52% | +7.33% | +0.05B |
| 2025-06-30 | $233M | 841 | +27.37% | +14.94% | +12.43% | +0.04B |
| 2025-03-31 | $164M | 653 | +10.50% | +8.30% | +2.20% | -0.02B |
| 2024-12-31 | $193M | 575 | +31.61% | +24.89% | +6.72% | -0.01B |
| 2024-09-30 | $204M | 609 | +46.05% | +36.04% | +10.02% | +0.04B |
| 2024-06-30 | $146M | 387 | +22.52% | +24.49% | -1.97% | -0.01B |
| 2024-03-31 | $154M | 611 | +19.52% | +29.62% | -10.10% | +0.05B |
| 2023-12-31 | $89M | 420 | +11.13% | +26.18% | -15.05% | -0.10B |
| 2023-09-30 | $168M | 548 | -0.48% | +21.57% | -22.05% | +0.09B |
| 2023-06-30 | $79M | 472 | -10.63% | +19.42% | -30.05% | -0.01B |
| 2023-03-31 | $86M | 505 | -22.05% | -7.82% | -14.23% | +0.01B |
| 2022-12-31 | $71M | 431 | -0.57% | +7.56% | -8.13% | -0.07B |
| 2022-09-30 | $142M | 577 | -15.17% | -4.93% | -10.24% | +0.03B |
| 2022-06-30 | $135M | 604 | -13.83% | -16.11% | +2.28% | +0.04B |