Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.06%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.75%
baseline attrition
Rally response
-7.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $5.55B | 31.1% | — | 0.8 yr |
| AMDAdvanced Micro Devices, | $1.12B | 6.3% | — | 0.8 yr |
| MSFTMicrosoft Corporation | $1.07B | 6.0% | — | 0.8 yr |
| AAPLApple Inc. | $960M | 5.4% | — | 0.8 yr |
| AMZNAmazon.com, Inc. | $780M | 4.4% | — | 0.8 yr |
| SNDKSandisk Corporation | $778M | 4.4% | — | 0.3 yr |
| METAMeta Platforms, Inc. | $747M | 4.2% | — | 0.8 yr |
| GOOGLAlphabet Inc. | $578M | 3.2% | — | 0.8 yr |
| GOOGAlphabet Inc. | $465M | 2.6% | — | 0.8 yr |
| COINCoinbase Global, Inc. | $446M | 2.5% | — | 0.8 yr |
| PLTRPalantir Technologies In | $319M | 1.8% | — | 0.8 yr |
| YNDXYandex N.V. | $317M | 1.8% | — | 0.8 yr |
| LITELumentum Holdings Inc. | $291M | 1.6% | — | 0.3 yr |
| BMNRBitmine Immersion Techno | $290M | 1.6% | — | 0.8 yr |
| CRWVCoreWeave, Inc. Class A | $287M | 1.6% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors38.9%$6.94B
Internet Content & Information11.9%$2.13B
Software - Infrastructure9.9%$1.77B
Consumer Electronics5.4%$960M
Hardware, Equipment & Parts5.0%$891M
Specialty Retail4.9%$880M
Financial - Capital Markets4.0%$711M
Communication Equipment3.9%$688M
Financial - Data & Stock Exchanges2.5%$446M
Software - Application2.3%$402M
Country
US94.5%
RU1.8%
Unknown1.2%
CA0.6%
CN0.5%
AU0.4%
NL0.2%
GB0.2%
Top 5: 53.2% · Top 10: 70.1% · Top 25: 86.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SNDK Sandisk Corporationnew | +$778M |
| LITE Lumentum Holdings Inc.new | +$291M |
| APP AppLovin Corporation | +$93M |
| COHR Coherent, Inc.new | +$70M |
| WDC Western Digital Corporationnew | +$65M |
| AMZN Amazon.com, Inc. | +$780M |
| BE Bloom Energy Corporation | +$37M |
| CRCL Circle Internet Group | +$32M |
| ONDS Ondas Holdings Inc.new | +$31M |
| GLW Corning Incorporatednew | +$24M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$243M |
| ORCL Oracle Corporation | −$94M |
| APGE Apogee Therapeutics, Inc. | −$86M |
| MSTR Strategy Inc | −$86M |
| SMR NuScale Power Corporation | −$77M |
| JPM JPMorgan Chase & Co.exit | −$74M |
| CRWV CoreWeave, Inc. Class A Common | −$73M |
| META Meta Platforms, Inc. | −$70M |
| OP OceanPal Inc.exit | −$58M |
| IREN IREN Limited | −$54M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $17.82B | 1049 | -9.18% | -4.37% | -4.81% | +0.44B |
| 2025-12-31 | $19.13B | 900 | -7.56% | +2.66% | -10.23% | +0.14B |
| 2025-09-30 | $20.54B | 812 | — | — | — | — |