Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+16.43%
adds when stocks drop
when a holding falls −10%+
Middle response
-27.00%
baseline attrition
Rally response
-35.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LITELumentum Holdings Inc. | $139M | 15.3% | +1027.3% | 1.5 yr |
| CRCLCircle Internet Group | $115M | 12.6% | — | 1.0 yr |
| MODModine Manufacturing Com | $93M | 10.2% | +182.4% | 0.3 yr |
| COHRCoherent, Inc. | $67M | 7.4% | +266.8% | 1.0 yr |
| MSFTMicrosoft Corporation | $65M | 7.2% | -0.6% | 2.5 yr |
| GOOGLAlphabet Inc. | $50M | 5.5% | — | 2.0 yr |
| SNDKSandisk Corporation | $45M | 4.9% | +1234.5% | 1.0 yr |
| CIENCiena Corporation | $34M | 3.8% | +542.4% | 1.3 yr |
| TSLATesla, Inc. | $30M | 3.3% | +43.4% | 5.0 yr |
| METAMeta Platforms, Inc. | $30M | 3.3% | -0.4% | 3.0 yr |
| VCXFundrise Growth Tech Fun | $27M | 2.9% | — | 0.3 yr |
| PWRQuanta Services, Inc. | $26M | 2.9% | +116.2% | 0.3 yr |
| RKLBRocket Lab USA, Inc. | $24M | 2.6% | +259.2% | 0.8 yr |
| TERTeradyne, Inc. | $20M | 2.2% | +260.2% | 0.5 yr |
| AXTIAXT, Inc. | $19M | 2.1% | +3941.1% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Communication Equipment19.1%+18.4pp$174M
Hardware, Equipment & Parts14.5%+8.1pp$132M
Financial - Capital Markets12.8%+10.1pp$116M
Auto - Parts10.2%$93M
Semiconductors9.3%-26.4pp$85M
Internet Content & Information8.9%-0.6pp$81M
Software - Infrastructure8.4%+4.3pp$76M
Engineering & Construction4.9%$45M
Auto - Manufacturers3.3%-1.4pp$30M
Asset Management2.9%$27M
Country
US99.6%+6.5pp
CN0.3%-2.0pp
CA0.1%-4.5pp
Top 5: 52.7% · Top 10: 73.6% · Top 25: 98.7%
Top buys this quarter · 15
| MOD Modine Manufacturing Companynew | +$93M |
| CRCL Circle Internet Group | +$49M |
| MSFT Microsoft Corporation | +$45M |
| VCX Fundrise Growth Tech Fund, LLCnew | +$27M |
| PWR Quanta Services, Inc.new | +$26M |
| MTZ MasTec, Inc.new | +$18M |
| TER Teradyne, Inc. | +$17M |
| MRVL Marvell Technology, Inc. | +$14M |
| COHR Coherent, Inc. | +$13M |
| META Meta Platforms, Inc. | +$13M |
Top sells this quarter · 15
| SNDK Sandisk Corporation | −$137M |
| ASML ASML Holding N.V.exit | −$107M |
| TSLA Tesla, Inc. | −$101M |
| NVDA NVIDIA Corporationexit | −$93M |
| AAOI Applied Optoelectronics, Inc. | −$76M |
| AXTI AXT, Inc. | −$60M |
| AMAT Applied Materials, Inc.exit | −$48M |
| LRCX Lam Research Corporationexit | −$41M |
| WDC Western Digital Corporationexit | −$33M |
| AVGO Broadcom Inc.exit | −$30M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $910M | 37 | +183.73% | +17.59% | +166.13% | -0.59B |
| 2025-12-31 | $1.11B | 43 | +96.77% | +17.72% | +79.05% | -0.17B |
| 2025-09-30 | $1.11B | 33 | +102.01% | +17.52% | +84.49% | +0.05B |
| 2025-06-30 | $811M | 39 | +58.62% | +14.94% | +43.67% | -0.10B |
| 2025-03-31 | $656M | 32 | +26.35% | +8.30% | +18.05% | +0.21B |
| 2024-12-31 | $481M | 24 | +42.97% | +24.89% | +18.08% | -0.37B |
| 2024-09-30 | $717M | 29 | +43.42% | +36.04% | +7.38% | -0.00B |
| 2024-06-30 | $703M | 21 | +32.59% | +24.49% | +8.10% | -0.12B |
| 2024-03-31 | $737M | 30 | +47.86% | +29.62% | +18.23% | -0.00B |
| 2023-12-31 | $700M | 34 | +69.86% | +26.18% | +43.68% | -0.19B |
| 2023-09-30 | $752M | 30 | +1.01% | +21.57% | -20.56% | +0.27B |
| 2023-06-30 | $508M | 29 | +12.45% | +19.42% | -6.97% | -0.15B |
| 2023-03-31 | $527M | 19 | -34.81% | -7.82% | -26.99% | +0.28B |
| 2022-12-31 | $201M | 15 | -29.22% | +7.56% | -36.79% | +0.12B |
| 2022-09-30 | $110M | 12 | +5.44% | -4.93% | +10.37% | -0.03B |
| 2022-06-30 | $134M | 12 | -28.09% | -16.11% | -11.98% | +0.03B |