Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.30%
baseline attrition
Rally response
-25.41%
trims into rallies
when a holding rises +10%+
Top positions · 12
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KWEBKraneShares CSI China In | $35M | 25.3% | — | 1.0 yr |
| — | $23M | 16.3% | — | 0.3 yr |
| RKTRocket Companies, Inc. | $16M | 11.2% | +18.1% | 0.3 yr |
| NVTnVent Electric plc | $15M | 10.8% | +127.9% | 0.3 yr |
| KMBKimberly-Clark Corporati | $10M | 7.3% | -29.2% | 0.5 yr |
| SUZSuzano S.A. | $9M | 6.2% | +9.9% | 0.8 yr |
| — | $8M | 5.5% | — | 0.5 yr |
| SANBanco Santander, S.A. | $7M | 5.2% | +73.5% | 0.3 yr |
| RIOTRiot Platforms, Inc. | $6M | 4.4% | +73.6% | 0.3 yr |
| FDSFactSet Research Systems | $5M | 3.9% | -51.6% | 0.3 yr |
| MARAMarathon Digital Holding | $4M | 3.1% | -29.0% | 0.3 yr |
| HUT.TOHut 8 Mining Corp. | $1M | 0.9% | +290.2% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management25.3%+12.7pp$35M
Unknown21.8%+5.0pp$30M
Financial - Mortgages11.2%$16M
Electrical Equipment & Parts10.8%$15M
Financial - Capital Markets8.4%$12M
Household & Personal Products7.3%$10M
Paper, Lumber & Forest Products6.2%$9M
Banks - Diversified5.2%$7M
Financial - Data & Stock Exchanges3.9%$5M
Country
US55.2%+10.0pp
Unknown21.8%+5.0pp
GB10.8%+8.8pp
BR6.2%-14.5pp
ES5.2%
CA0.9%-12.3pp
Top 5: 70.9% · Top 10: 96.1% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 10
| RKT Rocket Companies, Inc.new | +$16M |
| NVT nVent Electric plcnew | +$15M |
| SAN Banco Santander, S.A.new | +$7M |
| RIOT Riot Platforms, Inc.new | +$6M |
| FDS FactSet Research Systems Inc.new | +$5M |
| MARA Marathon Digital Holdings, Incnew | +$4M |
| HUT.TO Hut 8 Mining Corp.new | +$2M |
| — | +$8M |
| KWEB KraneShares CSI China Internet | +$0M |
| — new | +$0M |
Top sells this quarter · 12
| KVUE Kenvue Inc.exit | −$29M |
| BLCO Bausch + Lomb Corporationexit | −$14M |
| UPS United Parcel Service, Inc.exit | −$10M |
| KHC The Kraft Heinz Companyexit | −$9M |
| KMB Kimberly-Clark Corporation | −$9M |
| SUZ Suzano S.A. | −$8M |
| BMA Banco Macro S.A.exit | −$6M |
| AIG American International Group, exit | −$5M |
| KREF KKR Real Estate Finance Trust exit | −$2M |
| ATUS Altice USA, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $138M | 12 | +13.16% | +17.59% | -4.44% | -0.02B |
| 2025-12-31 | $158M | 14 | +25.81% | +17.72% | +8.09% | +0.05B |
| 2025-09-30 | $104M | 11 | +13.02% | +17.52% | -4.50% | -0.03B |
| 2025-06-30 | $108M | 9 | -7.22% | +14.94% | -22.16% | -0.07B |
| 2025-03-31 | $198M | 15 | -5.13% | +8.30% | -13.43% | -0.02B |
| 2024-12-31 | $204M | 13 | -17.40% | +24.89% | -42.29% | +0.12B |
| 2024-09-30 | $92M | 10 | -11.61% | +36.04% | -47.65% | +0.04B |
| 2024-06-30 | $51M | 6 | -8.04% | +4.38% | -12.42% | -0.03B |
| 2024-03-31 | $86M | 5 | -6.08% | +10.39% | -16.47% | +0.02B |
| 2023-12-31 | $75M | 3 | +0.68% | +11.64% | -10.96% | -0.05B |
| 2023-09-30 | $124M | 6 | — | — | — | +0.04B |
| 2023-06-30 | $81M | 3 | — | — | — | -0.06B |
| 2023-03-31 | $140M | 3 | — | — | — | — |