Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.37%
baseline attrition
Rally response
-1.00%
trims into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CVNACarvana Co. | $472M | 76.2% | +50.4% | 6.5 yr |
| NOWServiceNow, Inc. | $73M | 11.8% | -34.3% | 5.5 yr |
| SPOTSpotify Technology S.A. | $73M | 11.8% | -11.8% | 6.5 yr |
| CDLXCardlytics, Inc. | $1M | 0.2% | -42.3% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Auto - Dealerships76.2%+13.1pp$472M
Software - Application11.8%-2.5pp$73M
Internet Content & Information11.8%-10.4pp$73M
Advertising Agencies0.2%-0.2pp$1M
Country
US88.2%+10.4pp
LU11.8%-10.4pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| NOW ServiceNow, Inc. | +$73M |
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $619M | 4 | +29.88% | +17.59% | +12.29% | +0.01B |
| 2025-12-31 | $817M | 4 | +82.93% | +17.72% | +65.21% | -0.02B |
| 2025-09-30 | $789M | 4 | +104.32% | +17.52% | +86.80% | -0.01B |
| 2025-06-30 | $753M | 4 | +142.68% | +14.94% | +127.74% | -0.01B |
| 2025-03-31 | $497M | 4 | +102.09% | +8.30% | +93.78% | -0.02B |
| 2024-12-31 | $494M | 4 | +192.49% | +24.89% | +167.60% | +0.00B |
| 2024-09-30 | $419M | 4 | +183.69% | +36.04% | +147.65% | -0.01B |
| 2024-06-30 | $336M | 4 | +202.00% | +24.49% | +177.51% | -0.01B |
| 2024-03-31 | $269M | 4 | +248.17% | +29.62% | +218.55% | -0.02B |
| 2023-12-31 | $191M | 4 | +237.50% | +26.18% | +211.33% | -0.02B |
| 2023-09-30 | $183M | 5 | +91.44% | +21.57% | +69.87% | -0.04B |
| 2023-06-30 | $167M | 5 | +7.62% | +19.42% | -11.81% | -0.00B |
| 2023-03-31 | $113M | 5 | -74.34% | -7.82% | -66.53% | -0.01B |
| 2022-12-31 | $86M | 5 | -35.18% | +7.56% | -42.74% | -0.00B |
| 2022-09-30 | $140M | 5 | -24.15% | -4.93% | -19.22% | +0.01B |
| 2022-06-30 | $174M | 5 | -64.67% | -16.11% | -48.56% | +0.03B |