Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-73.94%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.01%
steady accumulation
Rally response
+43.11%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $16M | 3.7% | — | 1.8 yr |
| — | $15M | 3.5% | — | 0.3 yr |
| — | $13M | 3.0% | — | 1.8 yr |
| — | $13M | 3.0% | — | 2.0 yr |
| — | $11M | 2.6% | — | 1.8 yr |
| ITHAUITHAX Acquisition Corp I | $9M | 2.0% | — | 0.5 yr |
| — | $9M | 2.0% | — | 0.8 yr |
| RDAGURepublic Digital Acquisi | $8M | 1.9% | — | 0.8 yr |
| — | $8M | 1.9% | — | 0.5 yr |
| — | $8M | 1.8% | — | 1.5 yr |
| ALDFAldel Financial II Inc. | $8M | 1.8% | +4.5% | 1.3 yr |
| — | $8M | 1.8% | — | 1.3 yr |
| — | $8M | 1.8% | — | 1.8 yr |
| TACHTitan Acquisition Corp. | $7M | 1.8% | — | 0.8 yr |
| — | $7M | 1.8% | — | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Unknown62.4%-12.1pp$263M
Shell Companies27.8%+7.5pp$117M
Asset Management5.0%$21M
Financial - Conglomerates4.8%-0.3pp$20M
Software - Infrastructure0.0%$0M
Country
Unknown62.4%-11.8pp
US30.4%+7.0pp
KY4.2%+1.7pp
CA1.1%
FR0.9%
HK0.6%
GB0.5%
Top 5: 15.8% · Top 10: 25.5% · Top 25: 49.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ALDF | $1M | +0.00B | 4.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| NWAX New America Acquisition I Corpnew | +$6M |
| MESH Meshflow Acquisition Corp.new | +$5M |
| BLRK Bluerock Acquisition Corp. Clanew | +$4M |
| LAFA LaFayette Acquisition Corp. Ornew | +$4M |
| DNMX Dynamix Corporation III Class new | +$3M |
| VACI Viking Acquisition Corp. Inew | +$3M |
| ALIS Calisa Acquisition Corpnew | +$3M |
| EVOX Evolution Global Acquisition Cnew | +$3M |
| TDWD Tailwind 2.0 Acquisition Corp.new | +$2M |
| DSAC Daedalus Special Acquisition Cnew | +$2M |
Top sells this quarter · 15
| YCY AA Mission Acquisition Corp. Iexit | −$7M |
| CGCT Cartesian Growth Corporation I | −$4M |
| TACO Berto Acquisition Corp. | −$1M |
| GTEN Gores Holdings X, Inc.exit | −$1M |
| CEPT Cantor Equity Partners II, Incexit | −$1M |
| NHIC NewHold Investment Corp IIIexit | −$1M |
| CAEP Cantor Equity Partners III, In | −$1M |
| FCRS FutureCrest Acquisition Corp.exit | −$1M |
| GIW GigCapital8 Corp.exit | −$1M |
| BDCI BTC Development Corp. Class A | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $421M | 195 | +2.71% | +17.59% | -14.88% | -0.00B |
| 2025-12-31 | $424M | 183 | +4.20% | +17.72% | -13.52% | -0.00B |
| 2025-09-30 | $420M | 165 | +4.31% | +17.52% | -13.21% | +0.05B |
| 2025-06-30 | $378M | 144 | +6.45% | +14.94% | -8.49% | +0.31B |
| 2025-03-31 | $65M | 90 | +4.86% | +8.30% | -3.44% | -0.00B |
| 2024-12-31 | $66M | 86 | +4.34% | +24.89% | -20.54% | -0.02B |
| 2024-09-30 | $81M | 77 | +4.21% | +36.04% | -31.82% | -0.01B |
| 2024-06-30 | $86M | 67 | +4.96% | +24.49% | -19.53% | -0.00B |
| 2024-03-31 | $90M | 70 | +4.19% | +29.62% | -25.43% | +0.00B |
| 2023-12-31 | $87M | 67 | +4.33% | +26.18% | -21.85% | +0.03B |
| 2023-09-30 | $59M | 77 | +8.00% | +21.57% | -13.57% | -0.01B |
| 2023-06-30 | $72M | 91 | +195.41% | +19.42% | +175.99% | +0.01B |
| 2023-03-31 | $61M | 117 | +1.37% | +7.46% | -6.08% | -0.01B |
| 2022-12-31 | $67M | 203 | +4.50% | +7.56% | -3.06% | -0.46B |
| 2022-09-30 | $507M | 479 | +178.32% | -4.93% | +183.25% | -0.98B |
| 2022-06-30 | $533M | 480 | — | — | — | +0.02B |