Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.75%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.29%
steady accumulation
Rally response
-15.44%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $44M | 4.9% | — | 0.3 yr |
| PPGPPG Industries, Inc. | $42M | 4.7% | +0.3% | 2.0 yr |
| KTKT Corporation | $42M | 4.6% | +23.5% | 0.5 yr |
| NVDANVIDIA Corporation | $40M | 4.4% | +60.9% | 2.5 yr |
| THDiShares MSCI Thailand ET | $35M | 3.9% | — | 3.5 yr |
| EIDOiShares MSCI Indonesia E | $35M | 3.9% | — | 2.3 yr |
| — | $34M | 3.7% | — | 1.0 yr |
| MBBiShares MBS ETF | $33M | 3.6% | — | 0.5 yr |
| AMDAdvanced Micro Devices, | $33M | 3.6% | +98.0% | 1.3 yr |
| UNHUnitedHealth Group Incor | $28M | 3.1% | -46.9% | 0.5 yr |
| APDAir Products and Chemica | $28M | 3.1% | +0.5% | 2.3 yr |
| IJHiShares Core S&P Mid-Cap | $24M | 2.7% | — | 1.3 yr |
| HDThe Home Depot, Inc. | $24M | 2.6% | -8.0% | 0.5 yr |
| MIRMMirum Pharmaceuticals, I | $21M | 2.4% | +105.1% | 1.0 yr |
| JDJD.com, Inc. | $19M | 2.1% | -28.5% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology21.4%$195M
Asset Management16.5%-19.1pp$150M
Unknown9.4%+4.4pp$86M
Semiconductors9.2%+4.4pp$84M
Chemicals - Specialty7.7%+2.3pp$71M
Telecommunications Services4.6%+1.4pp$42M
Specialty Retail3.8%+2.5pp$35M
REIT - Office3.5%+2.7pp$32M
Medical - Healthcare Plans3.1%$28M
Home Improvement2.6%$24M
Country
US77.8%-4.8pp
Unknown9.4%+4.4pp
KR4.6%
CN2.8%-9.6pp
IE1.7%
CA1.6%
FR1.6%
SG0.3%
Top 5: 22.4% · Top 10: 40.4% · Top 25: 71.1%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| OC Owens Corningnew | +$15M |
| UNH UnitedHealth Group Incorporate | +$14M |
| PPG PPG Industries, Inc. | +$14M |
| MCHP Microchip Technology Incorpora | +$11M |
| KT KT Corporation | +$10M |
| HD The Home Depot, Inc. | +$8M |
| BBIO BridgeBio Pharma, Inc. | +$8M |
| NVDA NVIDIA Corporation | +$6M |
| PDD PDD Holdings Inc. | +$5M |
| TRVI Trevi Therapeutics, Inc. | +$3M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc.exit | −$38M |
| DOW Dow Inc.exit | −$32M |
| BIDU Baidu, Inc.exit | −$30M |
| MSFT Microsoft Corporationexit | −$24M |
| ZM Zoom Communications, Inc.exit | −$23M |
| FCX Freeport-McMoRan Inc.exit | −$20M |
| INTC Intel Corporationexit | −$17M |
| INTU Intuit Inc.exit | −$17M |
| JOYY JOYY, Inc. Sponsored ADR Class | −$13M |
| Z Zillow Group, Inc. Class Cexit | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $911M | 62 | +19.05% | +17.59% | +1.45% | -0.31B |
| 2025-12-31 | $1.26B | 78 | +27.58% | +17.72% | +9.86% | +0.22B |
| 2025-09-30 | $1.00B | 71 | +12.76% | +17.52% | -4.76% | +0.06B |
| 2025-06-30 | $836M | 59 | +14.23% | +14.94% | -0.71% | +0.17B |
| 2025-03-31 | $631M | 39 | +2.01% | +8.30% | -6.30% | +0.12B |
| 2024-12-31 | $490M | 30 | -0.64% | +24.89% | -25.52% | +0.03B |
| 2024-09-30 | $498M | 24 | +21.16% | +36.04% | -14.88% | +0.00B |
| 2024-06-30 | $438M | 22 | +1.62% | +24.49% | -22.87% | +0.03B |
| 2024-03-31 | $432M | 26 | +7.56% | +29.62% | -22.06% | -0.05B |
| 2023-12-31 | $483M | 24 | +33.98% | +26.18% | +7.80% | -0.14B |
| 2023-09-30 | $555M | 30 | +29.53% | +21.57% | +7.96% | +0.17B |
| 2023-06-30 | $406M | 16 | +21.26% | +19.42% | +1.83% | +0.03B |
| 2023-03-31 | $376M | 14 | +9.31% | -7.82% | +17.13% | -0.06B |
| 2022-12-31 | $348M | 17 | +8.26% | +7.56% | +0.70% | +0.01B |
| 2022-09-30 | $310M | 20 | -10.84% | -4.93% | -5.91% | -0.01B |
| 2022-06-30 | $360M | 23 | -9.73% | -16.11% | +6.39% | -0.11B |