Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+14.03%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.31%
baseline attrition
Rally response
-15.55%
trims into rallies
when a holding rises +10%+
Top positions · 16
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ICEIntercontinental Exchang | $27M | 13.8% | -7.8% | 2.8 yr |
| SPOTSpotify Technology S.A. | $21M | 10.5% | -11.8% | 1.0 yr |
| MSFTMicrosoft Corporation | $20M | 10.1% | -0.6% | 1.8 yr |
| CAECAE Inc. | $20M | 10.0% | +5.9% | 2.3 yr |
| TKOTKO Group Holdings, Inc. | $16M | 8.2% | +33.8% | 2.8 yr |
| APGAPi Group Corporation | $15M | 7.5% | +70.0% | 1.5 yr |
| MELIMercadoLibre, Inc. | $14M | 6.9% | -11.4% | 1.3 yr |
| NFLXNetflix, Inc. | $13M | 6.7% | +3.1% | 0.3 yr |
| NNINelnet, Inc. | $13M | 6.6% | +17.4% | 6.3 yr |
| QXOQXO, Inc. | $12M | 6.1% | +43.4% | 0.5 yr |
| GENIGenius Sports Limited | $9M | 4.6% | -55.7% | 1.5 yr |
| PLTRPalantir Technologies In | $7M | 3.7% | +73.3% | 0.3 yr |
| — | $4M | 2.2% | — | 1.5 yr |
| GPRKGeoPark Limited | $3M | 1.6% | +24.0% | 0.3 yr |
| FERGFerguson plc | $2M | 1.2% | +47.8% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information15.0%+12.2pp$30M
Entertainment14.9%+9.1pp$30M
Financial - Data & Stock Exchanges13.8%+7.9pp$27M
Software - Infrastructure13.8%+6.2pp$27M
Aerospace & Defense10.0%-0.7pp$20M
Engineering & Construction7.5%+0.3pp$15M
Industrial - Distribution7.3%+0.2pp$14M
Specialty Retail7.1%+1.8pp$14M
Financial - Credit Services6.6%-5.7pp$13M
Unknown2.2%-8.8pp$4M
Country
US62.9%+7.3pp
LU10.5%
CA10.0%-0.7pp
UY6.9%+3.8pp
GB5.7%-4.2pp
Unknown2.2%-8.8pp
CO1.6%
Top 5: 52.6% · Top 10: 86.5% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $198M | 16 | +3.97% | +17.59% | -13.62% | -0.06B |
| 2025-12-31 | $284M | 15 | +21.50% | +17.72% | +3.79% | -0.02B |
| 2025-09-30 | $320M | 16 | +31.07% | +17.52% | +13.55% | +0.01B |
| 2025-06-30 | $313M | 19 | +44.62% | +14.94% | +29.68% | -0.02B |
| 2025-03-31 | $282M | 19 | +28.42% | +8.30% | +20.12% | -0.03B |
| 2024-12-31 | $290M | 17 | +29.42% | +24.89% | +4.53% | +0.02B |
| 2024-09-30 | $259M | 14 | +33.56% | +36.04% | -2.47% | -0.04B |
| 2024-06-30 | $271M | 16 | +12.59% | +24.49% | -11.90% | +0.01B |
| 2024-03-31 | $243M | 16 | +5.92% | +29.62% | -23.70% | +0.03B |
| 2023-12-31 | $202M | 16 | +6.86% | +26.18% | -19.32% | -0.04B |
| 2023-09-30 | $230M | 16 | +2.86% | +21.57% | -18.71% | +0.02B |
| 2023-06-30 | $223M | 16 | +8.41% | +19.42% | -11.02% | -0.01B |
| 2023-03-31 | $237M | 14 | -18.48% | -7.82% | -10.66% | +0.01B |
| 2022-12-31 | $210M | 15 | +1.97% | +7.56% | -5.59% | -0.02B |
| 2022-09-30 | $222M | 18 | -1.79% | -4.93% | +3.14% | -0.03B |
| 2022-06-30 | $261M | 19 | -24.84% | -16.11% | -8.73% | +0.09B |