Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-18.87%
trims when stocks drop
when a holding falls −10%+
Middle response
-20.09%
baseline attrition
Rally response
-34.30%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GEHCGE HealthCare Technologi | $218M | 11.7% | -11.7% | 1.0 yr |
| METAMeta Platforms, Inc. | $200M | 10.7% | -0.4% | 5.0 yr |
| MSFTMicrosoft Corporation | $197M | 10.6% | -0.6% | 4.3 yr |
| AMGNAmgen Inc. | $172M | 9.3% | +16.5% | 1.0 yr |
| ADIAnalog Devices, Inc. | $150M | 8.1% | +60.2% | 1.0 yr |
| XOMExxon Mobil Corporation | $149M | 8.0% | +47.6% | 3.8 yr |
| DELLDell Technologies Inc. | $114M | 6.2% | +83.4% | 0.5 yr |
| MCHPMicrochip Technology Inc | $100M | 5.4% | +37.5% | 1.5 yr |
| SHYiShares 1-3 Year Treasur | $54M | 2.9% | — | 0.5 yr |
| MKSIMKS Inc. | $40M | 2.2% | +188.8% | 0.5 yr |
| IVViShares Core S&P 500 ETF | $38M | 2.0% | — | 0.5 yr |
| HASIHA Sustainable Infrastru | $33M | 1.8% | +31.4% | 0.3 yr |
| NETCloudflare, Inc. | $33M | 1.8% | +83.1% | 1.0 yr |
| PYPLPayPal Holdings, Inc. | $31M | 1.7% | -30.3% | 5.0 yr |
| BLLBall Corporation | $30M | 1.6% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors14.9%-44.5pp$277M
Software - Infrastructure13.0%+8.7pp$242M
Medical - Healthcare Information Services11.7%$218M
Internet Content & Information11.1%+8.6pp$207M
Drug Manufacturers - General9.3%$172M
Oil & Gas Integrated8.0%$149M
Asset Management7.3%$135M
Computer Hardware6.4%+2.7pp$119M
Hardware, Equipment & Parts2.9%$53M
Packaging & Containers2.1%$38M
Country
US98.7%+12.8pp
BR0.6%
GB0.4%-13.7pp
IL0.2%
Unknown0.1%
CA0.0%
Top 5: 50.4% · Top 10: 75.1% · Top 25: 91.5%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| PYPL | $0M | -0.00B | -30.3% |
Top buys this quarter · 15
| GEHC GE HealthCare Technologies Inc | +$138M |
| HASI HA Sustainable Infrastructure new | +$33M |
| PYPL PayPal Holdings, Inc. | +$26M |
| APO Apollo Global Management, Inc.new | +$18M |
| WELL Welltower Inc.new | +$13M |
| COHR Coherent, Inc.new | +$11M |
| INTU Intuit Inc.new | +$9M |
| AVY Avery Dennison Corporationnew | +$9M |
| JBHT J.B. Hunt Transport Services, new | +$8M |
| SCHW The Charles Schwab Corporation | +$5M |
Top sells this quarter · 15
| FCX Freeport-McMoRan Inc. | −$196M |
| XOM Exxon Mobil Corporation | −$83M |
| USB U.S. Bancorpexit | −$40M |
| NVDA NVIDIA Corporationexit | −$32M |
| FE FirstEnergy Corp.exit | −$22M |
| HD The Home Depot, Inc. | −$22M |
| HIG The Hartford Financial Serviceexit | −$16M |
| APD Air Products and Chemicals, Inexit | −$13M |
| TER Teradyne, Inc.exit | −$12M |
| COIN Coinbase Global, Inc. | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.86B | 78 | +38.09% | +17.59% | +20.50% | -0.23B |
| 2025-12-31 | $1.98B | 93 | +9.25% | +17.72% | -8.47% | +0.25B |
| 2025-09-30 | $1.59B | 108 | +0.44% | +17.52% | -17.08% | +0.04B |
| 2025-06-30 | $1.39B | 77 | -15.76% | +14.94% | -30.70% | +1.37B |
| 2025-03-31 | $24M | 21 | -24.22% | +8.30% | -32.52% | -0.01B |
| 2024-12-31 | $40M | 19 | +32.54% | +24.89% | +7.65% | +0.02B |
| 2024-09-30 | $23M | 19 | +56.21% | +36.04% | +20.17% | +0.00B |
| 2024-06-30 | $22M | 20 | +67.68% | +24.49% | +43.19% | -0.14B |
| 2024-03-31 | $163M | 36 | +95.16% | +29.62% | +65.54% | -0.00B |
| 2023-12-31 | $114M | 26 | +48.77% | +26.18% | +22.59% | -0.15B |
| 2023-09-30 | $226M | 34 | +18.64% | +21.57% | -2.93% | -1.95B |
| 2023-06-30 | $2.19B | 99 | +3.88% | +19.42% | -15.55% | -0.46B |
| 2023-03-31 | $2.33B | 72 | -24.14% | -7.82% | -16.32% | +1.51B |
| 2022-12-31 | $734M | 45 | -34.80% | -18.17% | -16.63% | +0.07B |
| 2022-09-30 | $699M | 50 | -23.31% | -15.51% | -7.80% | +0.19B |
| 2022-06-30 | $586M | 51 | -11.49% | -10.62% | -0.87% | -0.19B |