Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.29%
adds when stocks drop
when a holding falls −10%+
Middle response
-7.93%
baseline attrition
Rally response
-20.04%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ASMLASML Holding N.V. | $49M | 4.5% | +100.9% | 2.5 yr |
| AMZNAmazon.com, Inc. | $44M | 4.0% | +9.5% | 3.0 yr |
| MSFTMicrosoft Corporation | $42M | 3.9% | -0.6% | 3.3 yr |
| AEISAdvanced Energy Industri | $39M | 3.6% | +239.4% | 1.8 yr |
| MKSIMKS Inc. | $37M | 3.4% | +188.8% | 0.8 yr |
| SNPSSynopsys, Inc. | $36M | 3.3% | -7.5% | 1.0 yr |
| INTUIntuit Inc. | $32M | 2.9% | -29.3% | 1.5 yr |
| VRSNVeriSign, Inc. | $29M | 2.6% | -0.9% | 1.0 yr |
| METAMeta Platforms, Inc. | $27M | 2.5% | -0.4% | 3.5 yr |
| SPGIS&P Global Inc. | $27M | 2.5% | -15.6% | 1.5 yr |
| MPWRMonolithic Power Systems | $27M | 2.5% | +89.6% | 0.5 yr |
| SMTCSemtech Corporation | $26M | 2.4% | +123.5% | 2.3 yr |
| ABNBAirbnb, Inc. | $25M | 2.3% | +5.7% | 0.3 yr |
| CSCOCisco Systems, Inc. | $24M | 2.2% | +28.1% | 1.3 yr |
| TTWOTake-Two Interactive Sof | $24M | 2.2% | -4.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors19.3%+1.0pp$210M
Software - Infrastructure13.9%+6.9pp$151M
Hardware, Equipment & Parts10.1%-3.1pp$110M
Specialty Retail6.3%+1.6pp$69M
Financial - Credit Services5.8%+3.0pp$62M
Software - Application5.6%-3.7pp$61M
Communication Equipment5.4%+2.3pp$58M
Internet Content & Information3.9%+1.2pp$43M
Solar3.8%+2.9pp$41M
Electrical Equipment & Parts3.6%+2.7pp$39M
Country
US85.5%+6.7pp
NL5.3%+1.8pp
SG4.5%+0.7pp
KR1.4%
GB1.2%+0.7pp
LU1.0%-0.5pp
HK0.6%-0.2pp
TW0.5%
Top 5: 19.5% · Top 10: 33.4% · Top 25: 63.7%
Top buys this quarter · 15
| MKSI MKS Inc. | +$30M |
| ABNB Airbnb, Inc.new | +$25M |
| INTU Intuit Inc. | +$20M |
| MSI Motorola Solutions, Inc.new | +$18M |
| SNPS Synopsys, Inc. | +$17M |
| CPNG Coupang, Inc.new | +$15M |
| MXL MaxLinear, Inc.new | +$15M |
| META Meta Platforms, Inc. | +$13M |
| VRSN VeriSign, Inc. | +$13M |
| ARM Arm Holdings plc American Deponew | +$13M |
Top sells this quarter · 15
| STX Seagate Technology Holdings pl | −$123M |
| AMAT Applied Materials, Inc. | −$54M |
| NVDA NVIDIA Corporationexit | −$35M |
| ENPH Enphase Energy, Inc.exit | −$31M |
| AMT American Tower Corporationexit | −$30M |
| ANET Arista Networks, Inc.exit | −$27M |
| LITE Lumentum Holdings Inc. | −$5M |
| MU Micron Technology, Inc. | −$19M |
| NFLX Netflix, Inc.exit | −$19M |
| EQIX Equinix, Inc. | −$18M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.09B | 77 | +56.40% | +17.59% | +38.81% | -0.18B |
| 2025-12-31 | $1.16B | 84 | +30.20% | +17.72% | +12.48% | -0.01B |
| 2025-09-30 | $1.08B | 82 | +28.58% | +17.52% | +11.06% | -0.15B |
| 2025-06-30 | $1.11B | 91 | +24.19% | +14.94% | +9.25% | +0.13B |
| 2025-03-31 | $825M | 66 | +7.39% | +8.30% | -0.91% | +0.01B |
| 2024-12-31 | $901M | 66 | +29.80% | +24.89% | +4.91% | +0.29B |
| 2024-09-30 | $573M | 59 | +34.39% | +36.04% | -1.65% | -0.01B |
| 2024-06-30 | $543M | 51 | +27.53% | +24.49% | +3.04% | -0.08B |
| 2024-03-31 | $608M | 45 | +29.69% | +29.62% | +0.07% | -0.04B |
| 2023-12-31 | $593M | 48 | +25.90% | +26.18% | -0.28% | +0.10B |
| 2023-09-30 | $447M | 49 | +16.15% | +21.57% | -5.42% | +0.21B |
| 2023-06-30 | $227M | 35 | +13.30% | +19.42% | -6.13% | -0.15B |
| 2023-03-31 | $363M | 34 | -14.51% | -7.82% | -6.69% | +0.05B |
| 2022-12-31 | $290M | 35 | +2.51% | +7.56% | -5.05% | +0.02B |
| 2022-09-30 | $261M | 32 | -0.26% | -4.93% | +4.67% | +0.05B |
| 2022-06-30 | $208M | 23 | -21.71% | -16.11% | -5.60% | +0.04B |