Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.74%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.79%
baseline attrition
Rally response
-10.67%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CNHICNH Industrial N.V. | $128M | 4.9% | — | 2.5 yr |
| AMZNAmazon.com, Inc. | $115M | 4.4% | +9.5% | 1.8 yr |
| GOOGLAlphabet Inc. | $106M | 4.1% | — | 4.8 yr |
| CCEPCoca-Cola Europacific Pa | $101M | 3.9% | +6.9% | 4.8 yr |
| SCCOSouthern Copper Corporat | $86M | 3.3% | +93.0% | 4.8 yr |
| TIGOMillicom International C | $83M | 3.2% | +167.9% | 0.8 yr |
| BNBrookfield Corporation | $79M | 3.0% | +16.5% | 3.5 yr |
| ANTMElevance Health Inc. | $79M | 3.0% | — | 1.5 yr |
| CNQCanadian Natural Resourc | $78M | 3.0% | +66.0% | 4.8 yr |
| BNSThe Bank of Nova Scotia | $75M | 2.9% | +52.4% | 4.8 yr |
| MSFTMicrosoft Corporation | $73M | 2.8% | -0.6% | 4.5 yr |
| FNVFranco-Nevada Corporatio | $71M | 2.7% | +58.0% | 4.8 yr |
| NVDANVIDIA Corporation | $62M | 2.4% | +60.9% | 1.3 yr |
| METAMeta Platforms, Inc. | $59M | 2.3% | -0.4% | 4.8 yr |
| CXCEMEX, S.A.B. de C.V. | $53M | 2.0% | +106.1% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information6.3%-1.4pp$165M
Specialty Retail6.2%+0.8pp$161M
Agricultural - Machinery4.9%-0.2pp$128M
Semiconductors4.8%+1.7pp$126M
Software - Infrastructure4.7%+0.4pp$122M
Beverages - Non-Alcoholic4.3%+0.7pp$113M
Copper3.9%+1.3pp$102M
Unknown3.8%-10.2pp$100M
Gold3.7%+1.5pp$95M
Banks - Diversified3.2%+1.6pp$84M
Country
US63.4%+2.4pp
CA13.5%+4.5pp
GB8.8%+0.3pp
Unknown3.8%-10.2pp
LU3.2%
MX2.0%+0.9pp
PA1.8%+0.5pp
CN1.8%-1.7pp
Top 5: 20.5% · Top 10: 35.7% · Top 25: 65.3%
Top buys this quarter · 15
| SKY Champion Homes, Inc.new | +$22M |
| ORCL Oracle Corporation | +$18M |
| MSFT Microsoft Corporation | +$73M |
| AMZN Amazon.com, Inc. | +$115M |
| SPGI S&P Global Inc. | +$8M |
| NVDA NVIDIA Corporation | +$8M |
| V Visa Inc. | +$7M |
| TFX Teleflex Incorporated | +$5M |
| META Meta Platforms, Inc. | +$59M |
| IBKR Interactive Brokers Group, Inc | +$4M |
Top sells this quarter · 15
| SCCO Southern Copper Corporation | −$26M |
| LYB LyondellBasell Industries N.V.exit | −$25M |
| TME Tencent Music Entertainment Grexit | −$21M |
| MU Micron Technology, Inc. | −$16M |
| GOOG Alphabet Inc.exit | −$7M |
| CX CEMEX, S.A.B. de C.V. | −$4M |
| CCEP Coca-Cola Europacific Partners | −$2M |
| HDB HDFC Bank Limited | −$1M |
| BKNG Booking Holdings Inc.exit | −$1M |
| INMD InMode Ltd. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.61B | 74 | +25.00% | +17.59% | +7.40% | +0.08B |
| 2025-12-31 | $2.60B | 77 | +25.59% | +17.72% | +7.87% | -0.24B |
| 2025-09-30 | $2.72B | 78 | +18.66% | +17.52% | +1.15% | -0.68B |
| 2025-06-30 | $3.12B | 79 | +15.83% | +14.94% | +0.89% | -0.58B |
| 2025-03-31 | $3.27B | 81 | +0.27% | +8.30% | -8.04% | -0.22B |
| 2024-12-31 | $3.58B | 81 | +9.29% | +24.89% | -15.60% | +0.01B |
| 2024-09-30 | $3.62B | 82 | +21.43% | +36.04% | -14.61% | +0.22B |
| 2024-06-30 | $3.19B | 82 | +9.83% | +24.49% | -14.66% | -0.47B |
| 2024-03-31 | $3.75B | 86 | +19.45% | +29.62% | -10.17% | -0.05B |
| 2023-12-31 | $3.56B | 87 | +21.46% | +26.18% | -4.71% | +0.03B |
| 2023-09-30 | $3.22B | 88 | +26.22% | +21.57% | +4.65% | -0.21B |
| 2023-06-30 | $3.56B | 87 | +18.42% | +19.42% | -1.01% | -0.25B |
| 2023-03-31 | $3.58B | 91 | -2.22% | -7.82% | +5.59% | -0.44B |
| 2022-12-31 | $3.71B | 89 | +13.86% | +7.56% | +6.30% | -0.11B |
| 2022-09-30 | $3.36B | 88 | -9.67% | -4.93% | -4.75% | -2.05B |
| 2022-06-30 | $5.99B | 85 | -12.17% | -16.11% | +3.94% | -0.48B |