Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.17%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.74%
baseline attrition
Rally response
-5.57%
trims into rallies
when a holding rises +10%+
Top positions · 10
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CVNACarvana Co. | $1.32B | 57.5% | +50.4% | 4.3 yr |
| CPNGCoupang, Inc. | $485M | 21.1% | -13.9% | 5.3 yr |
| NAVNNavan, Inc. | $190M | 8.3% | — | 0.5 yr |
| TTANServiceTitan, Inc. | $79M | 3.4% | -33.3% | 1.5 yr |
| DASHDoorDash, Inc. | $75M | 3.3% | -17.8% | 3.0 yr |
| KVYOKlaviyo, Inc. | $45M | 2.0% | -35.7% | 2.5 yr |
| VEEVVeeva Systems Inc. | $44M | 1.9% | -24.2% | 0.8 yr |
| FIGFigma, Inc. | $32M | 1.4% | — | 0.8 yr |
| AMZNAmazon.com, Inc. | $15M | 0.7% | +9.5% | 3.5 yr |
| — | $10M | 0.4% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Auto - Dealerships57.5%-10.3pp$1.32B
Specialty Retail21.8%+2.4pp$501M
Software - Application13.1%+8.3pp$301M
Internet Content & Information3.3%$75M
Software - Infrastructure2.0%-6.0pp$45M
Medical - Healthcare Information Services1.9%$44M
Unknown0.4%$10M
Country
US78.4%-4.7pp
KR21.1%+4.3pp
Unknown0.4%
Top 5: 93.6% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.30B | 10 | +22.79% | +17.59% | +5.19% | +0.09B |
| 2025-12-31 | $2.98B | 10 | +64.41% | +17.72% | +46.69% | -0.13B |
| 2025-09-30 | $3.07B | 8 | +84.34% | +17.52% | +66.83% | +0.17B |
| 2025-06-30 | $2.66B | 7 | +113.06% | +14.94% | +98.11% | -0.05B |
| 2025-03-31 | $1.81B | 7 | +74.22% | +8.30% | +65.92% | -0.02B |
| 2024-12-31 | $1.84B | 9 | +139.36% | +24.89% | +114.48% | -0.28B |
| 2024-09-30 | $1.86B | 12 | +133.27% | +36.04% | +97.23% | -0.00B |
| 2024-06-30 | $1.49B | 15 | +101.56% | +24.49% | +77.07% | -0.01B |
| 2024-03-31 | $1.21B | 15 | +107.69% | +29.62% | +78.06% | +0.04B |
| 2023-12-31 | $860M | 14 | +86.34% | +26.18% | +60.17% | -0.04B |
| 2023-09-30 | $809M | 16 | +47.00% | +21.57% | +25.43% | -0.09B |
| 2023-06-30 | $826M | 14 | +62.80% | +19.42% | +43.38% | -0.04B |
| 2023-03-31 | $687M | 15 | -14.83% | -7.82% | -7.02% | -0.04B |
| 2022-12-31 | $596M | 17 | -12.52% | +7.56% | -20.08% | -0.55B |
| 2022-09-30 | $1.31B | 16 | +20.13% | -4.93% | +25.06% | +0.03B |
| 2022-06-30 | $1.07B | 14 | -33.70% | -16.11% | -17.59% | -0.00B |