Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+28.88%
adds when stocks drop
when a holding falls −10%+
Middle response
+7.27%
steady accumulation
Rally response
-30.15%
trims into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| USALiberty All-Star Equity | $3M | 16.5% | — | 0.5 yr |
| STEWSRH Total Return Fund, I | $3M | 15.9% | — | 3.0 yr |
| ASGLiberty All-Star Growth | $2M | 9.2% | — | 0.5 yr |
| ETHGrayscale Ethereum Mini | $2M | 8.3% | — | 0.5 yr |
| XFLTXAI Octagon Floating Rat | $2M | 8.0% | — | 0.3 yr |
| SABASaba Capital Income & Op | $1M | 5.3% | — | 0.3 yr |
| BSOLBitwise Solana Staking E | $1M | 5.0% | — | 0.5 yr |
| ETHBiShares Staked Ethereum | $1M | 4.4% | — | 0.3 yr |
| SOEZFranklin Solana ETF | $1M | 4.2% | — | 0.3 yr |
| FETHFidelity Ethereum Fund | $1M | 3.9% | — | 0.8 yr |
| VSOLVanEck Solana ETF | $1M | 3.7% | — | 0.3 yr |
| BRWSaba Capital Income & Op | $1M | 3.3% | — | 0.3 yr |
| GLQClough Global Equity Fun | $1M | 3.2% | — | 3.0 yr |
| GLOClough Global Opportunit | $1M | 2.6% | — | 3.0 yr |
| GLVClough Global Dividend a | $0M | 2.2% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management58.8%+29.1pp$11M
Asset Management - Income21.4%+19.6pp$4M
Asset Management - Cryptocurrency12.2%-7.0pp$2M
Asset Management - Global5.8%+3.3pp$1M
Leisure1.5%$0M
Unknown0.2%+0.2pp$0M
Semiconductors0.1%+0.1pp$0M
Country
US99.8%+4.7pp
Unknown0.2%+0.2pp
Top 5: 57.9% · Top 10: 80.6% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 9
| STEW SRH Total Return Fund, Inc. | +$3M |
| SOEZ Franklin Solana ETFnew | +$0M |
| ETH Grayscale Ethereum Mini Trust | +$2M |
| ETHB iShares Staked Ethereum Trust new | +$0M |
| ASG Liberty All-Star Growth Fund, | +$0M |
| BRW Saba Capital Income & Opportunnew | +$0M |
| SABA Saba Capital Income & Opportunnew | +$0M |
| VSOL VanEck Solana ETFnew | +$0M |
| XFLT XAI Octagon Floating Rate & Alnew | +$0M |
Top sells this quarter · 15
| SPY State Street SPDR S&P 500 ETF exit | −$36M |
| MSFT Microsoft Corporationexit | −$6M |
| AAPL Apple Inc.exit | −$4M |
| COP ConocoPhillipsexit | −$2M |
| SOC Sable Offshore Corp.exit | −$0M |
| TROX Tronox Holdings plcexit | −$0M |
| CODI Compass Diversifiedexit | −$0M |
| UAA Under Armour, Inc.exit | −$0M |
| VTEX Vtexexit | −$0M |
| WEST Westrock Coffee Company, LLCexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $19M | 21 | +17.37% | +17.59% | -0.22% | -0.06B |
| 2025-12-31 | $77M | 51 | +20.05% | +17.72% | +2.33% | +0.02B |
| 2025-09-30 | $56M | 24 | +13.11% | +17.52% | -4.41% | +0.02B |
| 2025-06-30 | $34M | 20 | +7.04% | +14.94% | -7.90% | -0.01B |
| 2025-03-31 | $44M | 26 | +4.92% | +8.30% | -3.39% | -0.03B |
| 2024-12-31 | $71M | 70 | +7.78% | +24.89% | -17.10% | +0.01B |
| 2024-09-30 | $65M | 32 | +20.48% | +36.04% | -15.55% | -0.00B |
| 2024-06-30 | $64M | 37 | +5.86% | +24.49% | -18.63% | -0.01B |
| 2024-03-31 | $68M | 41 | +2.66% | +29.62% | -26.97% | +0.00B |
| 2023-12-31 | $63M | 96 | +2.47% | +26.18% | -23.71% | +0.00B |
| 2023-09-30 | $59M | 47 | +9.29% | +21.57% | -12.28% | -0.03B |
| 2023-06-30 | $98M | 81 | +4.85% | +19.42% | -14.58% | -0.23B |
| 2023-03-31 | $328M | 142 | +1.63% | +7.46% | -5.83% | +0.07B |
| 2022-12-31 | $257M | 143 | +14.75% | +7.56% | +7.19% | -0.18B |
| 2022-09-30 | $383M | 194 | -9.69% | -4.93% | -4.77% | +0.05B |
| 2022-06-30 | $369M | 152 | — | — | — | +0.08B |