Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.66%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.38%
baseline attrition
Rally response
+1.09%
adds into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $208M | 14.5% | +9.5% | 4.3 yr |
| METAMeta Platforms, Inc. | $176M | 12.3% | -0.4% | 3.3 yr |
| MAMastercard Incorporated | $112M | 7.9% | -8.5% | 4.3 yr |
| NVDANVIDIA Corporation | $105M | 7.3% | +60.9% | 3.3 yr |
| GOOGLAlphabet Inc. | $101M | 7.0% | — | 0.8 yr |
| LITELumentum Holdings Inc. | $98M | 6.9% | +1027.3% | 0.5 yr |
| CVNACarvana Co. | $94M | 6.6% | +50.4% | 1.0 yr |
| VRTVertiv Holdings Co | $88M | 6.1% | +247.5% | 0.8 yr |
| AXONAxon Enterprise, Inc. | $85M | 5.9% | -19.3% | 0.3 yr |
| SPOTSpotify Technology S.A. | $73M | 5.1% | -11.8% | 2.3 yr |
| KEYSKeysight Technologies, I | $71M | 4.9% | +88.5% | 0.3 yr |
| AMATApplied Materials, Inc. | $68M | 4.8% | +137.6% | 0.3 yr |
| NETCloudflare, Inc. | $41M | 2.9% | +83.1% | 0.3 yr |
| FNFabrinet | $39M | 2.7% | +164.0% | 0.5 yr |
| SITMSiTime Corporation | $31M | 2.2% | +125.9% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information24.4%-5.9pp$350M
Specialty Retail14.5%-3.2pp$208M
Semiconductors14.3%+7.7pp$204M
Financial - Credit Services7.9%-4.6pp$112M
Hardware, Equipment & Parts7.7%$110M
Communication Equipment6.9%$98M
Auto - Dealerships6.6%$94M
Electrical Equipment & Parts6.1%$88M
Aerospace & Defense5.9%$85M
Software - Infrastructure3.8%-0.8pp$55M
Country
US92.2%+3.2pp
LU5.1%-5.9pp
KY2.7%
Top 5: 49.0% · Top 10: 79.6% · Top 25: 100.0%
Top buys this quarter · 10
| AXON Axon Enterprise, Inc.new | +$85M |
| KEYS Keysight Technologies, Inc.new | +$71M |
| AMAT Applied Materials, Inc.new | +$68M |
| NET Cloudflare, Inc.new | +$41M |
| CVNA Carvana Co. | +$94M |
| SPOT Spotify Technology S.A. | +$18M |
| META Meta Platforms, Inc. | +$176M |
| LITE Lumentum Holdings Inc. | +$3M |
| GH Guardant Health, Inc. | +$28M |
| GOOGL Alphabet Inc. | +$0M |
Top sells this quarter · 11
| AKAM Akamai Technologies, Inc.exit | −$39M |
| NVDA NVIDIA Corporation | −$33M |
| FN Fabrinet | −$20M |
| ESTC Elastic N.V.exit | −$20M |
| AMKR Amkor Technology, Inc.exit | −$15M |
| VRT Vertiv Holdings Co | −$64M |
| MDB MongoDB, Inc. | −$11M |
| WRD WeRide Inc.exit | −$11M |
| AMZN Amazon.com, Inc. | −$3M |
| MA Mastercard Incorporated | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.43B | 17 | +20.75% | +17.59% | +3.16% | +0.16B |
| 2025-12-31 | $1.31B | 17 | +20.09% | +17.72% | +2.37% | -0.08B |
| 2025-09-30 | $1.36B | 9 | +27.72% | +17.52% | +10.20% | -0.05B |
| 2025-06-30 | $1.40B | 10 | +31.22% | +14.94% | +16.28% | +0.11B |
| 2025-03-31 | $1.07B | 9 | +12.55% | +8.30% | +4.25% | -0.07B |
| 2024-12-31 | $1.18B | 11 | +39.15% | +24.89% | +14.26% | +0.21B |
| 2024-09-30 | $892M | 7 | +52.11% | +36.04% | +16.07% | -0.46B |
| 2024-06-30 | $1.31B | 13 | +51.89% | +24.49% | +27.40% | -0.14B |
| 2024-03-31 | $1.39B | 18 | +65.85% | +29.62% | +36.23% | +0.09B |
| 2023-12-31 | $1.09B | 15 | +66.24% | +26.18% | +40.07% | +0.09B |
| 2023-09-30 | $836M | 16 | +42.34% | +21.57% | +20.77% | -0.05B |
| 2023-06-30 | $855M | 15 | +30.30% | +19.42% | +10.88% | +0.13B |
| 2023-03-31 | $639M | 15 | -15.67% | -7.82% | -7.85% | +0.11B |
| 2022-12-31 | $439M | 13 | +1.52% | +7.56% | -6.04% | +0.03B |
| 2022-09-30 | $402M | 13 | -5.51% | -4.93% | -0.58% | +0.07B |
| 2022-06-30 | $351M | 8 | -26.62% | -16.11% | -10.51% | -0.07B |