Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-14.26%
baseline attrition
Rally response
-24.47%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| YUMYum! Brands, Inc. | $105M | 10.9% | +0.7% | 1.8 yr |
| CHWYChewy, Inc. | $50M | 5.2% | -16.9% | 2.3 yr |
| LYVLive Nation Entertainmen | $46M | 4.7% | +16.8% | 2.5 yr |
| MARMarriott International, | $40M | 4.1% | +38.6% | 1.3 yr |
| BURLBurlington Stores, Inc. | $38M | 3.9% | +36.5% | 3.0 yr |
| BROSDutch Bros Inc. | $38M | 3.9% | -17.9% | 1.5 yr |
| SPOTSpotify Technology S.A. | $37M | 3.8% | -11.8% | 3.0 yr |
| VVisa Inc. | $35M | 3.6% | -13.1% | 0.8 yr |
| AZOAutoZone, Inc. | $33M | 3.4% | -11.4% | 1.3 yr |
| MDLZMondelez International, | $33M | 3.4% | -13.0% | 1.3 yr |
| AVGOBroadcom Inc. | $30M | 3.1% | +86.0% | 1.8 yr |
| SFMSprouts Farmers Market, | $30M | 3.1% | -49.5% | 0.3 yr |
| CAVACAVA Group, Inc. | $27M | 2.7% | -6.4% | 0.5 yr |
| KOThe Coca-Cola Company | $27M | 2.7% | +9.3% | 1.0 yr |
| GOOGLAlphabet Inc. | $25M | 2.6% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Restaurants18.3%+7.2pp$178M
Specialty Retail11.6%-9.0pp$113M
Entertainment8.1%+3.0pp$79M
Apparel - Retail7.6%+1.2pp$74M
Internet Content & Information7.4%+0.1pp$72M
Travel Lodging6.4%$62M
Unknown4.5%+0.0pp$43M
Financial - Credit Services3.6%$35M
Food Confectioners3.4%$33M
Semiconductors3.2%-2.9pp$31M
Country
US87.3%+8.5pp
Unknown4.5%+0.0pp
LU3.8%+3.8pp
CN2.5%-0.9pp
CH1.8%-0.7pp
IT0.1%+0.0pp
KR0.0%-3.2pp
SG0.0%-7.4pp
Top 5: 28.8% · Top 10: 46.9% · Top 25: 83.4%
Top buys this quarter · 15
| CHWY Chewy, Inc. | +$50M |
| YUM Yum! Brands, Inc. | +$49M |
| MDLZ Mondelez International, Inc. | +$32M |
| SFM Sprouts Farmers Market, Inc.new | +$30M |
| HLT Hilton Worldwide Holdings Inc.new | +$23M |
| BABA Alibaba Group Holding Limited | +$16M |
| AAPL Apple Inc. | +$13M |
| NFLX Netflix, Inc. | +$12M |
| BOOT Boot Barn Holdings, Inc.new | +$10M |
| AZO AutoZone, Inc. | +$9M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$99M |
| ROST Ross Stores, Inc. | −$97M |
| WMT Walmart Inc. | −$84M |
| NVDA NVIDIA Corporation | −$57M |
| CVNA Carvana Co. | −$56M |
| MSFT Microsoft Corporationexit | −$55M |
| EAT Brinker International, Inc.exit | −$55M |
| CL Colgate-Palmolive Company | −$42M |
| HAS Hasbro, Inc. | −$37M |
| AVGO Broadcom Inc. | −$35M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $971M | 57 | +24.87% | +17.59% | +7.28% | -0.78B |
| 2025-12-31 | $1.83B | 62 | +24.04% | +17.72% | +6.33% | -0.24B |
| 2025-09-30 | $2.13B | 63 | +46.99% | +17.52% | +29.48% | -0.28B |
| 2025-06-30 | $2.20B | 62 | +46.21% | +14.94% | +31.27% | +0.65B |
| 2025-03-31 | $1.26B | 50 | +26.84% | +8.30% | +18.53% | -0.82B |
| 2024-12-31 | $2.19B | 61 | +49.08% | +24.89% | +24.19% | +0.54B |
| 2024-09-30 | $1.43B | 50 | +47.66% | +36.04% | +11.63% | -0.12B |
| 2024-06-30 | $1.42B | 40 | +32.71% | +24.49% | +8.21% | +0.17B |
| 2024-03-31 | $1.18B | 41 | +38.19% | +29.62% | +8.56% | +0.02B |
| 2023-12-31 | $1.04B | 43 | +39.14% | +26.18% | +12.96% | -0.24B |
| 2023-09-30 | $1.12B | 42 | +34.82% | +21.57% | +13.25% | +0.07B |
| 2023-06-30 | $1.06B | 41 | +34.75% | +19.42% | +15.33% | +0.04B |
| 2023-03-31 | $924M | 39 | +8.99% | -7.82% | +16.80% | +0.47B |
| 2022-12-31 | $405M | 26 | +10.05% | +7.56% | +2.49% | -0.24B |
| 2022-09-30 | $584M | 27 | -1.81% | -4.93% | +3.12% | -0.02B |
| 2022-06-30 | $613M | 25 | -10.33% | -16.11% | +5.78% | +0.13B |