Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.17%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.17%
baseline attrition
Rally response
-6.28%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSLATesla, Inc. | $52M | 5.1% | +43.4% | 4.8 yr |
| VOOVanguard S&P 500 ETF | $50M | 5.0% | — | 4.3 yr |
| AAPLApple Inc. | $40M | 3.9% | +14.7% | 4.8 yr |
| LITELumentum Holdings Inc. | $39M | 3.9% | +1027.3% | 1.0 yr |
| FUTUFutu Holdings Limited | $38M | 3.8% | +33.6% | 2.0 yr |
| GOOGAlphabet Inc. | $36M | 3.6% | +84.3% | 5.5 yr |
| GOOGLAlphabet Inc. | $34M | 3.4% | — | 6.8 yr |
| BABAAlibaba Group Holding Li | $30M | 3.0% | -3.5% | 7.0 yr |
| TSMTaiwan Semiconductor Man | $29M | 2.8% | +105.6% | 0.5 yr |
| PDDPDD Holdings Inc. | $27M | 2.7% | -13.7% | 6.3 yr |
| MSFTMicrosoft Corporation | $26M | 2.6% | -0.6% | 7.0 yr |
| MUMicron Technology, Inc. | $24M | 2.4% | +289.6% | 1.0 yr |
| AMZNAmazon.com, Inc. | $23M | 2.3% | +9.5% | 7.0 yr |
| VVisa Inc. | $21M | 2.1% | -13.1% | 7.0 yr |
| PMPhilip Morris Internatio | $21M | 2.1% | +7.9% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.4%+3.9pp$115M
Internet Content & Information9.2%+5.9pp$92M
Specialty Retail7.9%-1.9pp$80M
Asset Management7.0%-3.0pp$70M
Auto - Manufacturers5.1%+0.2pp$52M
Software - Infrastructure4.7%+0.8pp$47M
Financial - Capital Markets4.5%+2.9pp$46M
Software - Application4.3%-3.5pp$43M
Consumer Electronics3.9%-3.2pp$40M
Communication Equipment3.9%$39M
Country
US79.4%+1.6pp
IE5.7%-0.0pp
CN4.5%-6.5pp
HK3.8%+2.9pp
TW2.8%
Unknown1.4%+0.2pp
SG1.3%+1.1pp
LU1.1%+0.8pp
Top 5: 21.7% · Top 10: 37.2% · Top 25: 65.0%
Top buys this quarter · 15
| PDD PDD Holdings Inc. | +$17M |
| MU Micron Technology, Inc. | +$14M |
| KDP Keurig Dr Pepper Inc.new | +$13M |
| FUTU Futu Holdings Limited | +$13M |
| AVGO Broadcom Inc. | +$10M |
| ZTS Zoetis Inc. | +$10M |
| ETN Eaton Corporation plcnew | +$9M |
| TSM Taiwan Semiconductor Manufactu | +$8M |
| CFG Citizens Financial Group, Inc. | +$8M |
| MDT Medtronic plc | +$8M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$18M |
| AAPL Apple Inc. | −$13M |
| GOOG Alphabet Inc. | −$10M |
| GDS GDS Holdings Limitedexit | −$8M |
| PWR Quanta Services, Inc.exit | −$7M |
| ROP Roper Technologies, Inc.exit | −$6M |
| LMT Lockheed Martin Corporationexit | −$6M |
| COST Costco Wholesale Corporationexit | −$6M |
| XPEV XPeng Inc.exit | −$5M |
| CARR Carrier Global Corporationexit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.00B | 75 | +15.93% | +17.59% | -1.67% | +0.05B |
| 2025-12-31 | $1.01B | 106 | +16.38% | +17.72% | -1.33% | +0.08B |
| 2025-09-30 | $895M | 100 | +16.46% | +17.52% | -1.05% | +0.04B |
| 2025-06-30 | $777M | 100 | +12.49% | +14.94% | -2.45% | -0.01B |
| 2025-03-31 | $734M | 102 | +11.54% | +8.30% | +3.24% | +0.09B |
| 2024-12-31 | $680M | 102 | +12.86% | +24.89% | -12.02% | -0.31B |
| 2024-09-30 | $949M | 107 | +13.39% | +36.04% | -22.65% | +0.26B |
| 2024-06-30 | $644M | 99 | +6.41% | +4.38% | +2.04% | +0.14B |
| 2024-03-31 | $475M | 83 | -4.46% | +10.39% | -14.85% | -0.03B |
| 2023-12-31 | $529M | 70 | +4.31% | +11.64% | -7.33% | -0.08B |
| 2022-03-31 | $587M | 72 | — | — | — | +0.09B |
| 2021-12-31 | $502M | 69 | — | — | — | +0.01B |
| 2021-09-30 | $493M | 83 | — | — | — | -0.16B |
| 2021-06-30 | $648M | 84 | — | — | — | +0.12B |
| 2021-03-31 | $530M | 71 | — | — | — | -0.15B |
| 2020-12-31 | $679M | 72 | +6.06% | +12.12% | -6.06% | -0.01B |