Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.46%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.81%
steady accumulation
Rally response
+5.79%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RPRXRoyalty Pharma plc | $175M | 6.5% | +57.7% | 2.5 yr |
| CCitigroup Inc. | $160M | 6.0% | +63.9% | 4.3 yr |
| GOOGLAlphabet Inc. | $154M | 5.7% | — | 4.5 yr |
| AMZNAmazon.com, Inc. | $136M | 5.1% | +9.5% | 4.5 yr |
| QXOQXO, Inc. | $132M | 4.9% | +43.4% | 1.8 yr |
| NVDANVIDIA Corporation | $124M | 4.6% | +60.9% | 2.3 yr |
| UNHUnitedHealth Group Incor | $118M | 4.4% | -46.9% | 1.0 yr |
| ETEnergy Transfer LP | $118M | 4.4% | +12.1% | 4.5 yr |
| IACIAC InterActive Corp. | $108M | 4.0% | +6.3% | 3.0 yr |
| NCLHNorwegian Cruise Line Ho | $108M | 4.0% | -1.4% | 4.5 yr |
| — | $98M | 3.7% | — | 2.5 yr |
| METAMeta Platforms, Inc. | $98M | 3.6% | -0.4% | 4.5 yr |
| CVSCVS Health Corporation | $97M | 3.6% | +10.0% | 2.8 yr |
| COINCoinbase Global, Inc. | $75M | 2.8% | +1.4% | 4.3 yr |
| ADBEAdobe Inc. | $72M | 2.7% | -36.6% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information13.4%+0.3pp$360M
Biotechnology9.1%+3.0pp$244M
Banks - Diversified8.1%-0.6pp$218M
Medical - Healthcare Plans8.0%+3.4pp$216M
Specialty Retail6.6%-4.3pp$178M
Travel Services5.5%-0.5pp$146M
Industrial - Distribution4.9%-0.2pp$132M
Semiconductors4.6%+1.1pp$124M
Oil & Gas Midstream4.4%-0.3pp$118M
Airlines, Airports & Air Services3.9%-0.2pp$104M
Country
US93.0%+5.1pp
Unknown3.7%+1.1pp
CH1.8%-1.4pp
CN1.5%-3.8pp
Top 5: 28.2% · Top 10: 49.7% · Top 25: 89.3%
Top buys this quarter · 15
| ADBE Adobe Inc.new | +$72M |
| COIN Coinbase Global, Inc. | +$44M |
| AMZN Amazon.com, Inc. | +$19M |
| UNH UnitedHealth Group Incorporate | +$118M |
| META Meta Platforms, Inc. | +$16M |
| JD JD.com, Inc. | +$16M |
| CHYM Chime Financial, Inc. Class A | +$16M |
| ET Energy Transfer LP | +$16M |
| RPRX Royalty Pharma plc | +$15M |
| C Citigroup Inc. | +$14M |
Top sells this quarter · 15
| MAT Mattel, Inc.exit | −$41M |
| BIIB Biogen Inc. | −$36M |
| BABA Alibaba Group Holding Limitedexit | −$13M |
| DAL Delta Air Lines, Inc. | −$9M |
| PTON Peloton Interactive, Inc.exit | −$8M |
| YOU Clear Secure, Inc.exit | −$6M |
| PLAY Dave & Buster's Entertainment, | −$6M |
| ILMN Illumina, Inc. | −$4M |
| PGEN Precigen, Inc. | −$3M |
| OMF OneMain Holdings, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.68B | 38 | +23.49% | +17.59% | +5.90% | +0.25B |
| 2025-12-31 | $2.59B | 40 | +20.44% | +17.72% | +2.72% | -0.04B |
| 2025-09-30 | $2.50B | 41 | +25.10% | +17.52% | +7.58% | +0.08B |
| 2025-06-30 | $2.22B | 40 | +6.16% | +14.94% | -8.78% | -0.01B |
| 2025-03-31 | $1.94B | 39 | -10.23% | +8.30% | -18.54% | -0.04B |
| 2024-12-31 | $2.17B | 43 | +7.80% | +24.89% | -17.09% | -0.06B |
| 2024-09-30 | $2.04B | 41 | +13.97% | +36.04% | -22.07% | +0.30B |
| 2024-06-30 | $1.88B | 40 | +19.23% | +24.49% | -5.26% | -0.11B |
| 2024-03-31 | $2.05B | 42 | +37.34% | +29.62% | +7.72% | -0.02B |
| 2023-12-31 | $1.88B | 42 | +38.27% | +26.18% | +12.09% | -0.08B |
| 2023-09-30 | $1.70B | 40 | +22.51% | +21.57% | +0.94% | -0.04B |
| 2023-06-30 | $1.80B | 43 | +18.64% | +19.42% | -0.78% | +1.55B |
| 2023-03-31 | $223M | 41 | -16.10% | -7.82% | -8.28% | -0.00B |
| 2022-12-31 | $203M | 41 | +2.38% | +7.56% | -5.18% | +0.00B |
| 2022-09-30 | $197M | 41 | -6.32% | -4.93% | -1.39% | +0.01B |
| 2022-06-30 | $204M | 39 | -21.12% | -16.11% | -5.01% | +0.00B |