Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+15.23%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.37%
steady accumulation
Rally response
-22.88%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| YPFYPF Sociedad Anónima | $64M | 24.6% | +31.9% | 2.0 yr |
| PAMPampa EnergÃa S.A. | $29M | 11.3% | +14.6% | 2.0 yr |
| BBARBanco BBVA Argentina S.A | $28M | 10.8% | -9.6% | 2.0 yr |
| GGALGrupo Financiero Galicia | $24M | 9.4% | -11.7% | 2.0 yr |
| KWEBKraneShares CSI China In | $19M | 7.2% | — | 2.0 yr |
| BMABanco Macro S.A. | $13M | 5.2% | +7.5% | 2.0 yr |
| EWZiShares MSCI Brazil ETF | $7M | 2.6% | — | 2.0 yr |
| FXIiShares China Large-Cap | $6M | 2.2% | — | 2.0 yr |
| VISTVista Energy, S.A.B. de | $6M | 2.1% | +62.1% | 1.3 yr |
| SUPVGrupo Supervielle S.A. | $5M | 1.9% | -26.9% | 2.0 yr |
| TGSTransportadora de Gas de | $4M | 1.4% | +35.4% | 2.0 yr |
| YINNDirexion Daily FTSE Chin | $3M | 1.3% | — | 1.0 yr |
| BABAAlibaba Group Holding Li | $3M | 1.3% | -3.5% | 1.3 yr |
| JDJD.com, Inc. | $3M | 1.2% | -28.5% | 1.5 yr |
| CEPUCentral Puerto S.A. | $3M | 1.0% | +51.8% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional27.3%-2.7pp$70M
Oil & Gas Integrated26.8%+6.4pp$69M
Asset Management16.2%-12.3pp$42M
Independent Power Producers11.3%+9.0pp$29M
Specialty Retail4.1%+2.2pp$10M
Oil & Gas Exploration & Production2.1%-0.2pp$6M
Regulated Electric1.9%+0.7pp$5M
Unknown1.2%+0.3pp$3M
Medical - Healthcare Plans0.9%$2M
Airlines, Airports & Air Services0.8%+0.4pp$2M
Country
AR67.8%+12.8pp
US20.8%-13.8pp
CN4.0%-0.7pp
MX2.1%+1.2pp
Unknown1.2%+0.3pp
BR1.1%-0.4pp
LU0.9%-0.3pp
IE0.8%+0.1pp
Top 5: 63.3% · Top 10: 77.4% · Top 25: 91.4%
Top buys this quarter · 15
| BBAR Banco BBVA Argentina S.A. | +$15M |
| PAM Pampa EnergÃa S.A. | +$10M |
| BMA Banco Macro S.A. | +$4M |
| GGAL Grupo Financiero Galicia S.A. | +$24M |
| BABA Alibaba Group Holding Limited | +$3M |
| JD JD.com, Inc. | +$2M |
| PDD PDD Holdings Inc. | +$1M |
| MELI MercadoLibre, Inc. | +$1M |
| UNH UnitedHealth Group Incorporate | +$1M |
| SUPV Grupo Supervielle S.A. | +$5M |
Top sells this quarter · 15
| YPF YPF Sociedad Anónima | −$26M |
| VIST Vista Energy, S.A.B. de C.V. | −$11M |
| PBR Petróleo Brasileiro S.A. - Pe | −$6M |
| AAPL Apple Inc. | −$3M |
| ALB Albemarle Corporation | −$2M |
| AGRO Adecoagro S.A. | −$1M |
| BIDU Baidu, Inc. | −$1M |
| SPY State Street SPDR S&P 500 ETF | −$1M |
| EC Ecopetrol S.A. | −$0M |
| STM STMicroelectronics N.V. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $259M | 66 | +20.94% | +17.59% | +3.35% | -0.02B |
| 2025-12-31 | $251M | 54 | -5.92% | +17.72% | -23.64% | -0.01B |
| 2025-09-30 | $166M | 50 | +0.09% | +17.52% | -17.43% | +0.04B |
| 2025-06-30 | $177M | 51 | +57.54% | +14.94% | +42.60% | +0.04B |
| 2025-03-31 | $150M | 65 | -12.96% | -4.27% | -8.69% | -0.06B |
| 2024-12-31 | $244M | 57 | +66.58% | +2.49% | +64.09% | -0.06B |
| 2024-09-30 | $180M | 57 | +15.34% | +5.75% | +9.59% | -0.00B |
| 2024-06-30 | $160M | 52 | — | — | — | — |