Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.31%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.20%
baseline attrition
Rally response
-12.08%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RTACURenatus Tactical Acquisi | $11M | 13.6% | — | 0.8 yr |
| OSOneStream, Inc. Class A | $8M | 9.4% | +12.5% | 0.3 yr |
| CEPVCantor Equity Partners V | $8M | 9.3% | — | 0.3 yr |
| HOLXHologic, Inc. | $7M | 8.7% | +22.4% | 1.0 yr |
| CEPTCantor Equity Partners I | $6M | 7.0% | — | 1.0 yr |
| NWAX-UNNew America Acquisition | $4M | 5.4% | — | 0.5 yr |
| EAElectronic Arts Inc. | $4M | 4.3% | +41.7% | 0.3 yr |
| ACLXArcellx, Inc. | $4M | 4.3% | — | 0.3 yr |
| — | $3M | 3.4% | — | 0.5 yr |
| MAGSRoundhill Investments - | $2M | 2.8% | — | 0.3 yr |
| NWAXNew America Acquisition | $2M | 2.4% | — | 0.3 yr |
| FCRSFutureCrest Acquisition | $2M | 2.4% | — | 0.5 yr |
| UNHUnitedHealth Group Incor | $2M | 2.3% | -46.9% | 1.0 yr |
| ABVXAbivax S.A. | $2M | 2.1% | +1681.6% | 0.5 yr |
| CORZCore Scientific, Inc. | $1M | 1.8% | +106.6% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Shell Companies29.9%+29.0pp$25M
Biotechnology9.8%+5.2pp$8M
Software - Application9.4%+8.9pp$8M
Medical - Instruments & Supplies8.7%$7M
Financial - Conglomerates7.9%$6M
Asset Management6.6%-60.1pp$5M
Unknown5.9%+3.5pp$5M
Semiconductors4.9%+3.5pp$4M
Electronic Gaming & Multimedia4.3%$4M
Software - Infrastructure3.6%$3M
Country
US89.4%+0.0pp
Unknown5.9%+3.5pp
FR2.1%
TW0.8%
GB0.6%+0.4pp
HK0.5%
AU0.3%
CN0.1%-0.0pp
Top 5: 47.9% · Top 10: 68.2% · Top 25: 89.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $0M | +0.00B | 60.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| OS OneStream, Inc. Class A Commonnew | +$8M |
| CEPV Cantor Equity Partners V, Inc.new | +$8M |
| HOLX Hologic, Inc. | +$5M |
| EA Electronic Arts Inc.new | +$4M |
| CEPT Cantor Equity Partners II, Inc | +$3M |
| NWAX New America Acquisition I Corpnew | +$2M |
| ABVX Abivax S.A. | +$1M |
| CORZ Core Scientific, Inc. | +$1M |
| TDAY USA TODAY Co., Inc.new | +$1M |
| NKTR Nektar Therapeutics | +$1M |
Top sells this quarter · 15
| CEPF Cantor Equity Partners IV, Incexit | −$5M |
| SIMO Silicon Motion Technology Corp | −$3M |
| BDCI BTC Development Corp. Class A exit | −$2M |
| CWAN Clearwater Analytics Holdings,exit | −$1M |
| AVGO Broadcom Inc.exit | −$1M |
| FCRS FutureCrest Acquisition Corp. | −$1M |
| TVA Texas Ventures Acquisition IIIexit | −$1M |
| MELI MercadoLibre, Inc.exit | −$1M |
| GOOG Alphabet Inc.exit | −$1M |
| TER Teradyne, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $82M | 58 | -79.25% | +17.59% | -96.84% | -0.01B |
| 2025-12-31 | $85M | 70 | -80.89% | +17.72% | -98.60% | -0.00B |
| 2025-09-30 | $100M | 105 | -78.37% | +17.52% | -95.89% | +0.08B |
| 2025-06-30 | $83M | 67 | +9.03% | +14.94% | -5.91% | +0.06B |
| 2025-03-31 | $23M | 34 | -2.70% | +8.30% | -11.00% | -0.01B |
| 2024-12-31 | $34M | 40 | +10.45% | +24.89% | -14.43% | -0.01B |
| 2024-09-30 | $39M | 49 | +14.32% | +36.04% | -21.71% | -0.01B |
| 2024-06-30 | $46M | 78 | +1.30% | +24.49% | -23.19% | -0.03B |
| 2024-03-31 | $77M | 96 | +7.34% | +29.62% | -22.28% | -0.29B |
| 2023-12-31 | $340M | 77 | -0.03% | +26.18% | -26.20% | +0.24B |
| 2023-09-30 | $99M | 148 | +8.55% | +21.57% | -13.02% | +0.00B |
| 2023-06-30 | $102M | 150 | +16.13% | +19.42% | -3.30% | -0.44B |
| 2023-03-31 | $519M | 149 | -0.56% | -7.82% | +7.26% | -0.22B |
| 2022-12-31 | $739M | 156 | +13.05% | +7.56% | +5.49% | +0.54B |
| 2022-09-30 | $176M | 209 | -1.30% | -4.93% | +3.63% | +0.02B |
| 2022-06-30 | $157M | 341 | -11.30% | -16.11% | +4.81% | +0.01B |