Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-20.17%
baseline attrition
Rally response
-16.45%
trims into rallies
when a holding rises +10%+
Top positions · 27
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LITELumentum Holdings Inc. | $970M | 20.4% | +1027.3% | 1.0 yr |
| COHRCoherent, Inc. | $637M | 13.4% | +266.8% | 0.8 yr |
| SNDKSandisk Corporation | $527M | 11.1% | +1234.5% | 0.8 yr |
| GLWCorning Incorporated | $269M | 5.6% | +201.5% | 1.0 yr |
| MUMicron Technology, Inc. | $265M | 5.6% | +289.6% | 1.8 yr |
| TSEMTower Semiconductor Ltd. | $257M | 5.4% | +392.1% | 0.5 yr |
| MODModine Manufacturing Com | $252M | 5.3% | +182.4% | 0.5 yr |
| WDCWestern Digital Corporat | $221M | 4.6% | +571.9% | 0.8 yr |
| STXSeagate Technology Holdi | $192M | 4.0% | +366.3% | 0.8 yr |
| AMZNAmazon.com, Inc. | $168M | 3.5% | +9.5% | 2.5 yr |
| TERTeradyne, Inc. | $164M | 3.4% | +260.2% | 0.8 yr |
| KEYSKeysight Technologies, I | $163M | 3.4% | +88.5% | 0.3 yr |
| ASMLASML Holding N.V. | $162M | 3.4% | +100.9% | 1.0 yr |
| NVDANVIDIA Corporation | $121M | 2.5% | +60.9% | 4.3 yr |
| AXTIAXT, Inc. | $77M | 1.6% | +3941.1% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts33.5%$1.60B
Semiconductors22.0%+21.9pp$1.05B
Communication Equipment21.8%$1.04B
Computer Hardware8.7%+8.7pp$413M
Auto - Parts5.3%$252M
Specialty Retail3.5%-22.6pp$168M
Software - Application1.7%-7.4pp$80M
Unknown1.3%-6.3pp$64M
Asset Management1.0%-1.5pp$47M
Internet Content & Information0.6%-14.8pp$29M
Country
US83.9%+27.4pp
IL5.4%+4.4pp
SG4.4%+1.9pp
NL3.4%
FI1.5%
Unknown1.3%-6.3pp
CN0.2%-14.5pp
Top 5: 56.0% · Top 10: 78.9% · Top 25: 100.0%
Top buys this quarter · 15
| LITE Lumentum Holdings Inc. | +$620M |
| COHR Coherent, Inc. | +$520M |
| SNDK Sandisk Corporation | +$393M |
| KEYS Keysight Technologies, Inc.new | +$163M |
| MOD Modine Manufacturing Company | +$140M |
| TSEM Tower Semiconductor Ltd. | +$139M |
| GLW Corning Incorporated | +$135M |
| WDC Western Digital Corporation | +$110M |
| STX Seagate Technology Holdings pl | +$109M |
| TER Teradyne, Inc. | +$86M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$200M |
| TSM Taiwan Semiconductor Manufactuexit | −$108M |
| GOOG Alphabet Inc.exit | −$104M |
| AVGO Broadcom Inc.exit | −$88M |
| VRT Vertiv Holdings Co | −$86M |
| NIO NIO Inc. | −$74M |
| RDDT Reddit, Inc. | −$68M |
| GEV GE Vernova Inc.exit | −$52M |
| CIEN Ciena Corporationexit | −$52M |
| MU Micron Technology, Inc. | −$257M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.76B | 27 | +95.14% | +17.59% | +77.55% | +1.78B |
| 2025-12-31 | $2.51B | 38 | +63.34% | +17.72% | +45.63% | +0.07B |
| 2025-09-30 | $2.16B | 39 | +58.32% | +17.52% | +40.80% | +0.42B |
| 2025-06-30 | $1.42B | 31 | +30.62% | +14.94% | +15.68% | +0.41B |
| 2025-03-31 | $847M | 26 | +22.21% | +8.30% | +13.90% | -0.05B |
| 2024-12-31 | $899M | 39 | +42.56% | +24.89% | +17.67% | +0.35B |
| 2024-09-30 | $499M | 29 | +53.52% | +36.04% | +17.48% | -0.53B |
| 2024-06-30 | $1.02B | 24 | +89.83% | +24.49% | +65.34% | -0.07B |
| 2024-03-31 | $984M | 28 | +66.87% | +29.62% | +37.25% | +0.07B |
| 2023-12-31 | $785M | 23 | +46.53% | +26.18% | +20.35% | -0.26B |
| 2023-09-30 | $890M | 17 | +50.92% | +21.57% | +29.35% | +0.51B |
| 2023-06-30 | $300M | 16 | -10.37% | +19.42% | -29.80% | +0.06B |
| 2023-03-31 | $244M | 12 | +26.70% | -7.82% | +34.52% | +0.02B |
| 2022-12-31 | $221M | 8 | +21.51% | +7.56% | +13.95% | +0.08B |
| 2022-09-30 | $114M | 2 | -25.68% | -4.93% | -20.75% | +0.01B |
| 2022-06-30 | $146M | 3 | +37.69% | -16.11% | +53.80% | -0.20B |