Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.84%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.24%
baseline attrition
Rally response
-12.51%
trims into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NUNu Holdings Ltd. | $95M | 49.9% | +40.3% | 2.8 yr |
| MELIMercadoLibre, Inc. | $37M | 19.5% | -11.4% | 4.0 yr |
| INTRInter & Co, Inc. | $30M | 15.6% | +47.1% | 1.5 yr |
| STNEStoneCo Ltd. | $25M | 12.9% | +34.7% | 3.0 yr |
| EWQiShares MSCI France ETF | $4M | 2.1% | — | 0.5 yr |
| — | $0M | 0.0% | — | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified49.9%+11.1pp$95M
Specialty Retail19.5%$37M
Banks - Regional15.6%$30M
Software - Infrastructure12.9%-47.7pp$25M
Asset Management2.1%$4M
Unknown0.0%-0.6pp$0M
Country
BR65.5%+26.7pp
UY19.5%
KY12.9%-47.7pp
US2.1%
Unknown0.0%-0.6pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 4
| NU Nu Holdings Ltd. | +$95M |
| MELI MercadoLibre, Inc. | +$8M |
| STNE StoneCo Ltd. | +$3M |
| INTR Inter & Co, Inc. | +$2M |
Top sells this quarter · 1
| EWQ iShares MSCI France ETF | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $191M | 6 | +50.09% | +17.59% | +32.50% | +0.05B |
| 2025-12-31 | $152M | 5 | +93.12% | +17.72% | +75.40% | +0.04B |
| 2025-09-30 | $115M | 4 | +50.57% | +17.52% | +33.05% | -0.00B |
| 2025-06-30 | $100M | 4 | +33.22% | +14.94% | +18.28% | +0.03B |
| 2025-03-31 | $47M | 3 | -7.05% | +8.30% | -15.35% | -0.00B |
| 2024-12-31 | $41M | 3 | -6.85% | +24.89% | -31.74% | -0.05B |
| 2024-09-30 | $118M | 4 | +44.81% | +36.04% | +8.78% | -0.08B |
| 2024-06-30 | $189M | 6 | +41.77% | +24.49% | +17.28% | -0.05B |
| 2024-03-31 | $245M | 5 | +115.16% | +29.62% | +85.54% | +0.01B |
| 2023-12-31 | $195M | 5 | +95.93% | +26.18% | +69.75% | +0.07B |
| 2023-09-30 | $108M | 3 | +45.31% | +21.57% | +23.74% | -0.04B |
| 2023-06-30 | $140M | 3 | +60.45% | +19.42% | +41.02% | -0.04B |
| 2023-03-31 | $123M | 8 | -37.12% | -7.82% | -29.30% | -0.00B |
| 2022-12-31 | $118M | 6 | -11.33% | +7.56% | -18.89% | -0.01B |
| 2022-09-30 | $142M | 8 | +12.95% | -4.93% | +17.87% | -0.05B |
| 2022-06-30 | $167M | 10 | -41.67% | -16.11% | -25.56% | +0.04B |