Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.05%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.76%
baseline attrition
Rally response
-5.22%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PYPLPayPal Holdings, Inc. | $1.18B | 39.0% | -30.3% | 6.5 yr |
| EBAYeBay Inc. | $913M | 30.3% | +36.3% | 6.5 yr |
| GLDSPDR Gold Shares | $494M | 16.4% | — | 6.5 yr |
| ZMZoom Communications, Inc | $94M | 3.1% | +9.0% | 6.5 yr |
| NUNu Holdings Ltd. | $55M | 1.8% | +40.3% | 4.0 yr |
| IWDiShares Russell 1000 Val | $45M | 1.5% | — | 6.3 yr |
| IWNiShares Russell 2000 Val | $44M | 1.4% | — | 6.5 yr |
| VBRVanguard Small-Cap Value | $40M | 1.3% | — | 6.3 yr |
| VNQVanguard Real Estate ETF | $29M | 1.0% | — | 6.3 yr |
| CRCLCircle Internet Group | $20M | 0.7% | — | 0.5 yr |
| VTIVanguard Total Stock Mar | $18M | 0.6% | — | 6.3 yr |
| SPYState Street SPDR S&P 50 | $14M | 0.5% | +17.6% | 6.5 yr |
| WDAYWorkday, Inc. | $12M | 0.4% | -44.4% | 6.3 yr |
| CHYMChime Financial, Inc. Cl | $10M | 0.3% | — | 1.0 yr |
| NAUTNautilus Biotechnology, | $9M | 0.3% | +350.6% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services39.0%-16.7pp$1.18B
Specialty Retail30.4%+8.9pp$916M
Asset Management22.9%+6.3pp$690M
Software - Application3.9%+0.1pp$116M
Banks - Diversified1.8%+0.4pp$56M
Financial - Capital Markets0.7%$21M
Biotechnology0.6%+0.3pp$18M
Banks - Regional0.3%$10M
Software - Infrastructure0.1%-0.0pp$3M
Information Technology Services0.1%-0.0pp$2M
Country
US98.0%-0.4pp
BR1.8%+0.4pp
Unknown0.1%-0.1pp
CN0.1%-0.0pp
IE0.0%
KR0.0%-0.0pp
Top 5: 90.6% · Top 10: 96.5% · Top 25: 99.7%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.01B | 38 | -9.82% | +17.59% | -27.42% | +0.10B |
| 2025-12-31 | $3.32B | 38 | -13.74% | +17.72% | -31.46% | +0.02B |
| 2025-09-30 | $3.62B | 40 | +0.51% | +17.52% | -17.01% | +0.05B |
| 2025-06-30 | $3.58B | 43 | +30.62% | +14.94% | +15.68% | -0.01B |
| 2025-03-31 | $3.18B | 40 | +4.47% | +8.30% | -3.83% | +0.12B |
| 2024-12-31 | $3.63B | 41 | +37.85% | +24.89% | +12.96% | -0.18B |
| 2024-09-30 | $3.59B | 44 | +34.84% | +36.04% | -1.20% | -0.08B |
| 2024-06-30 | $2.84B | 46 | -8.52% | +24.49% | -33.01% | +0.05B |
| 2024-03-31 | $3.09B | 43 | -8.49% | +29.62% | -38.12% | -0.05B |
| 2023-12-31 | $2.83B | 41 | -11.55% | +26.18% | -37.73% | -0.03B |
| 2023-09-30 | $2.76B | 47 | -26.98% | +21.57% | -48.55% | +0.09B |
| 2023-06-30 | $3.04B | 45 | -5.92% | +19.42% | -25.34% | +0.13B |
| 2023-03-31 | $3.22B | 47 | -33.83% | -7.82% | -26.01% | -0.11B |
| 2022-12-31 | $3.11B | 52 | -41.11% | -18.17% | -22.93% | -0.19B |
| 2022-09-30 | $3.85B | 52 | -23.74% | -15.51% | -8.23% | -0.19B |
| 2022-06-30 | $3.57B | 55 | -32.22% | -10.62% | -21.60% | +0.05B |