Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.39%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.90%
baseline attrition
Rally response
+0.69%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QQQMInvesco NASDAQ 100 ETF | $68M | 18.4% | — | 0.5 yr |
| BTCGrayscale Bitcoin Mini T | $32M | 8.7% | — | 0.5 yr |
| TQQQProShares - UltraPro QQQ | $20M | 5.3% | — | 6.5 yr |
| AVGOBroadcom Inc. | $14M | 3.8% | +86.0% | 2.5 yr |
| NVDANVIDIA Corporation | $14M | 3.8% | +60.9% | 4.8 yr |
| JPSTJPMorgan Ultra-Short Inc | $12M | 3.4% | — | 6.5 yr |
| TSMTaiwan Semiconductor Man | $11M | 2.9% | +105.6% | 4.5 yr |
| JAAAJanus Henderson AAA CLO | $10M | 2.7% | — | 2.3 yr |
| MSFTMicrosoft Corporation | $10M | 2.6% | -0.6% | 6.5 yr |
| ZROZPIMCO 25+ Year Zero Coup | $9M | 2.5% | — | 6.5 yr |
| GOOGLAlphabet Inc. | $7M | 1.9% | — | 4.3 yr |
| AVGEAvantis All Equity Marke | $6M | 1.7% | — | 2.8 yr |
| ASMLASML Holding N.V. | $6M | 1.6% | +100.9% | 5.5 yr |
| AMZNAmazon.com, Inc. | $6M | 1.5% | +9.5% | 6.5 yr |
| NOWServiceNow, Inc. | $6M | 1.5% | -34.3% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management50.0%+3.8pp$186M
Semiconductors14.6%+2.9pp$54M
Software - Infrastructure4.6%+0.9pp$17M
Asset Management - Income3.8%-0.2pp$14M
Software - Application3.5%+1.5pp$13M
Internet Content & Information3.4%+0.0pp$13M
Asset Management - Bonds3.1%-2.5pp$11M
Specialty Retail2.2%-0.5pp$8M
Asset Management - Global2.2%+0.7pp$8M
Oil & Gas Midstream2.0%-0.1pp$7M
Country
US94.9%+2.5pp
TW2.9%-0.4pp
NL1.6%-0.4pp
UY0.7%-0.1pp
Top 5: 40.1% · Top 10: 54.1% · Top 25: 75.5%
Top buys this quarter · 15
| FICO Fair Isaac Corporationnew | +$5M |
| VRT Vertiv Holdings Conew | +$3M |
| FIX Comfort Systems USA, Inc.new | +$3M |
| NOW ServiceNow, Inc. | +$2M |
| CAT Caterpillar Inc.new | +$2M |
| MSFT Microsoft Corporation | +$10M |
| VEEV Veeva Systems Inc. | +$1M |
| APP AppLovin Corporation | +$3M |
| SPY State Street SPDR S&P 500 ETF | +$1M |
| PLTR Palantir Technologies Inc. | +$3M |
Top sells this quarter · 15
| LRCX Lam Research Corporation | −$2M |
| CRWV CoreWeave, Inc. Class A Commonexit | −$2M |
| TDG TransDigm Group Incorporatedexit | −$2M |
| CDNS Cadence Design Systems, Inc.exit | −$2M |
| RACE Ferrari N.V.exit | −$2M |
| ARES Ares Management Corporationexit | −$2M |
| AVGO Broadcom Inc. | −$1M |
| LNG Cheniere Energy, Inc. | −$4M |
| EPD Enterprise Products Partners L | −$1M |
| WING Wingstop Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $371M | 76 | +22.00% | +17.59% | +4.41% | +0.02B |
| 2025-12-31 | $368M | 81 | +19.80% | +17.72% | +2.08% | -0.01B |
| 2025-09-30 | $387M | 77 | +25.56% | +17.52% | +8.04% | -0.04B |
| 2025-06-30 | $383M | 81 | +17.19% | +14.94% | +2.25% | +0.07B |
| 2025-03-31 | $264M | 85 | +3.20% | +8.30% | -5.10% | -0.01B |
| 2024-12-31 | $292M | 81 | +23.07% | +24.89% | -1.82% | -0.02B |
| 2024-09-30 | $308M | 77 | +34.19% | +36.04% | -1.85% | +0.03B |
| 2024-06-30 | $274M | 72 | +23.88% | +24.49% | -0.62% | +0.02B |
| 2024-03-31 | $248M | 76 | +33.11% | +29.62% | +3.49% | -0.02B |
| 2023-12-31 | $237M | 97 | +35.23% | +26.18% | +9.05% | -0.03B |
| 2023-09-30 | $241M | 99 | +20.45% | +21.57% | -1.12% | -0.05B |
| 2023-06-30 | $308M | 102 | +23.40% | +19.42% | +3.98% | -0.02B |
| 2023-03-31 | $297M | 82 | -8.80% | -7.82% | -0.98% | +0.04B |
| 2022-12-31 | $226M | 71 | -22.13% | -18.17% | -3.96% | +0.03B |
| 2022-09-30 | $196M | 56 | -4.47% | -15.51% | +11.04% | +0.00B |
| 2022-06-30 | $201M | 61 | -17.09% | -16.11% | -0.98% | +0.00B |