Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+12.21%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.60%
baseline attrition
Rally response
-6.89%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $72M | 36.3% | — | 1.3 yr |
| ACWIiShares MSCI ACWI ETF | $23M | 11.5% | — | 2.0 yr |
| ALKAlaska Air Group, Inc. | $13M | 6.4% | -25.3% | 4.0 yr |
| MSFTMicrosoft Corporation | $10M | 4.9% | -0.6% | 2.5 yr |
| TLTiShares 20+ Year Treasur | $10M | 4.9% | — | 2.0 yr |
| METAMeta Platforms, Inc. | $9M | 4.5% | -0.4% | 0.8 yr |
| AMZNAmazon.com, Inc. | $8M | 4.2% | +9.5% | 2.5 yr |
| MELIMercadoLibre, Inc. | $7M | 3.7% | -11.4% | 0.5 yr |
| HYGiShares iBoxx $ High Yie | $6M | 2.9% | — | 2.3 yr |
| CRWDCrowdStrike Holdings, In | $5M | 2.6% | +10.7% | 0.5 yr |
| VVisa Inc. | $5M | 2.6% | -13.1% | 1.3 yr |
| KKRKKR & Co. Inc. | $5M | 2.5% | -19.5% | 0.5 yr |
| BXBlackstone Inc. | $5M | 2.5% | -14.9% | 1.0 yr |
| AVGOBroadcom Inc. | $5M | 2.4% | +86.0% | 0.5 yr |
| EMBiShares J.P. Morgan USD | $5M | 2.4% | — | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management56.9%-16.7pp$112M
Software - Infrastructure8.4%+3.0pp$17M
Specialty Retail7.9%+7.3pp$16M
Asset Management - Bonds7.8%+1.3pp$15M
Airlines, Airports & Air Services6.4%+5.5pp$13M
Internet Content & Information4.5%-0.3pp$9M
Software - Application3.0%$6M
Financial - Credit Services2.6%$5M
Semiconductors2.4%-4.3pp$5M
Country
US96.3%-2.3pp
UY3.7%
Top 5: 64.1% · Top 10: 82.1% · Top 25: 100.0%
Top buys this quarter · 14
| ALK Alaska Air Group, Inc. | +$12M |
| AMZN Amazon.com, Inc. | +$8M |
| META Meta Platforms, Inc. | +$7M |
| MELI MercadoLibre, Inc. | +$7M |
| AVGO Broadcom Inc. | +$5M |
| V Visa Inc. | +$4M |
| BX Blackstone Inc. | +$4M |
| MSFT Microsoft Corporation | +$3M |
| KKR KKR & Co. Inc. | +$3M |
| SNPS Synopsys, Inc.new | +$2M |
Top sells this quarter · 12
| CRWD CrowdStrike Holdings, Inc. | −$13M |
| CPA Copa Holdings, S.A.exit | −$1M |
| SNCY Sun Country Airlines Holdings,exit | −$1M |
| HEI HEICO Corporationexit | −$0M |
| MMYT MakeMyTrip Limitedexit | −$0M |
| RJET Republic Airways Holdings Inc.exit | −$0M |
| ACWI iShares MSCI ACWI ETF | −$0M |
| EMB iShares J.P. Morgan USD Emergi | −$0M |
| HYG iShares iBoxx $ High Yield Cor | −$0M |
| GOVT iShares U.S. Treasury Bond ETF | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $197M | 20 | -0.23% | +17.59% | -17.82% | +0.07B |
| 2025-12-31 | $134M | 7 | +0.08% | +17.72% | -17.64% | -0.03B |
| 2025-09-30 | $160M | 11 | +29.73% | +17.52% | +12.22% | +0.03B |
| 2025-06-30 | $144M | 7 | +43.72% | +14.94% | +28.78% | -0.00B |
| 2025-03-31 | $129M | 19 | +26.96% | +8.30% | +18.65% | +0.01B |
| 2024-12-31 | $123M | 13 | +47.78% | +24.89% | +22.89% | +0.05B |
| 2024-09-30 | $55M | 8 | +28.37% | +36.04% | -7.66% | -0.21B |
| 2024-06-30 | $257M | 164 | +10.76% | +24.49% | -13.74% | +0.05B |
| 2024-03-31 | $202M | 88 | +25.30% | +29.62% | -4.32% | +0.04B |
| 2023-12-31 | $147M | 76 | +24.89% | +26.18% | -1.28% | +0.00B |
| 2023-09-30 | $128M | 76 | +28.33% | +21.57% | +6.76% | +0.02B |
| 2023-06-30 | $127M | 69 | +56.76% | +19.42% | +37.33% | -0.02B |
| 2023-03-31 | $127M | 65 | +31.42% | -7.82% | +39.24% | -0.02B |
| 2022-12-31 | $131M | 53 | +16.65% | +7.56% | +9.09% | +0.04B |
| 2022-09-30 | $76M | 56 | +7.50% | -4.93% | +12.43% | -0.02B |
| 2022-06-30 | $88M | 88 | -4.96% | -16.11% | +11.15% | -0.08B |