Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.97%
trims when stocks drop
when a holding falls −10%+
Middle response
-18.21%
baseline attrition
Rally response
-28.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SMHVanEck Semiconductor ETF | $206M | 35.6% | — | 0.3 yr |
| QQnity Electronics, Inc. | $46M | 8.0% | — | 0.3 yr |
| SNDKSandisk Corporation | $44M | 7.6% | +1234.5% | 0.8 yr |
| INTCIntel Corporation | $31M | 5.3% | +94.3% | 0.3 yr |
| CIENCiena Corporation | $25M | 4.3% | +542.4% | 1.0 yr |
| SOLSSolstice Advanced Materi | $17M | 2.9% | — | 0.5 yr |
| CRWVCoreWeave, Inc. Class A | $16M | 2.8% | +108.9% | 0.3 yr |
| LITELumentum Holdings Inc. | $16M | 2.7% | +1027.3% | 1.3 yr |
| MKSIMKS Inc. | $12M | 2.1% | +188.8% | 0.3 yr |
| MTSIMACOM Technology Solutio | $12M | 2.0% | +121.2% | 1.0 yr |
| GLWCorning Incorporated | $11M | 2.0% | +201.5% | 0.3 yr |
| COHRCoherent, Inc. | $11M | 2.0% | +266.8% | 1.0 yr |
| MTZMasTec, Inc. | $10M | 1.7% | +175.7% | 0.5 yr |
| AGXArgan, Inc. | $10M | 1.7% | +318.5% | 0.8 yr |
| FIXComfort Systems USA, Inc | $8M | 1.3% | +329.0% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management35.6%$206M
Semiconductors17.4%-14.4pp$100M
Hardware, Equipment & Parts15.7%+8.5pp$91M
Engineering & Construction8.2%$48M
Communication Equipment7.6%+4.6pp$44M
Software - Infrastructure3.8%-4.3pp$22M
Chemicals - Specialty2.9%$17M
Financial - Capital Markets2.0%-2.5pp$11M
Oil & Gas Equipment & Services1.1%-0.2pp$7M
Auto - Manufacturers1.1%+0.5pp$6M
Country
US95.6%+45.0pp
KY1.3%
CA0.9%-0.6pp
IL0.7%-2.0pp
FI0.7%
CN0.5%-21.3pp
CH0.4%
Top 5: 60.7% · Top 10: 73.2% · Top 25: 91.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| LITE | $6M | +0.06B | 1027.3% |
| SNDK | $4M | +0.04B | 1234.5% |
| LRCX | $10M | +0.02B | 196.1% |
| HUT.TO | $1M | +0.01B | 290.2% |
| SEI | $3M | +0.00B | 163.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| Q Qnity Electronics, Inc.new | +$46M |
| INTC Intel Corporationnew | +$31M |
| SNDK Sandisk Corporation | +$18M |
| CRWV CoreWeave, Inc. Class A Commonnew | +$16M |
| MKSI MKS Inc.new | +$12M |
| GLW Corning Incorporatednew | +$11M |
| FIX Comfort Systems USA, Inc.new | +$8M |
| FN Fabrinetnew | +$7M |
| AMTM Amentum Holdings, Inc.new | +$5M |
| NVMI Nova Ltd.new | +$4M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$49M |
| LGN Legence Corp. Class A Common s | −$13M |
| COHR Coherent, Inc. | −$13M |
| AMAT Applied Materials, Inc.exit | −$11M |
| PWR Quanta Services, Inc.exit | −$11M |
| NOK Nokia Oyj | −$11M |
| NXT Nextpower Inc.exit | −$9M |
| ENTG Entegris, Inc. | −$8M |
| PONY Pony AI Inc. American Depositaexit | −$7M |
| PRIM Primoris Services Corporation | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $578M | 52 | +188.39% | +17.59% | +170.80% | +0.19B |
| 2025-12-31 | $289M | 49 | +89.13% | +17.72% | +71.41% | +0.02B |
| 2025-09-30 | $184M | 62 | +50.35% | +17.52% | +32.83% | -0.09B |
| 2025-06-30 | $222M | 58 | +26.26% | +14.94% | +11.32% | -0.02B |
| 2025-03-31 | $198M | 61 | +8.06% | +8.30% | -0.24% | -0.09B |
| 2024-12-31 | $326M | 76 | +40.00% | +24.89% | +15.11% | +0.08B |
| 2024-09-30 | $212M | 50 | +43.12% | +36.04% | +7.08% | -0.08B |
| 2024-06-30 | $284M | 46 | +25.04% | +24.49% | +0.55% | -0.13B |
| 2024-03-31 | $403M | 49 | +12.52% | +29.62% | -17.10% | +0.02B |
| 2023-12-31 | $338M | 52 | +5.38% | +26.18% | -20.80% | -0.02B |
| 2023-09-30 | $300M | 41 | -33.35% | +21.57% | -54.91% | +0.09B |
| 2023-06-30 | $233M | 31 | -27.90% | +19.42% | -47.32% | +0.06B |
| 2023-03-31 | $187M | 21 | +5.48% | +7.46% | -1.98% | +0.02B |
| 2022-12-31 | $155M | 13 | -23.83% | +7.56% | -31.39% | +0.06B |
| 2022-09-30 | $130M | 14 | -3.51% | -4.93% | +1.42% | -0.03B |
| 2022-06-30 | $163M | 12 | — | — | — | +0.01B |