Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-28.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.89%
baseline attrition
Rally response
-10.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $157M | 8.8% | +9.5% | 3.5 yr |
| NVDANVIDIA Corporation | $154M | 8.6% | +60.9% | 2.0 yr |
| TSMTaiwan Semiconductor Man | $118M | 6.6% | +105.6% | 2.3 yr |
| AVGOBroadcom Inc. | $112M | 6.3% | +86.0% | 1.5 yr |
| SESea Limited | $104M | 5.8% | -36.5% | 2.3 yr |
| RTXRTX Corporation | $76M | 4.3% | +48.1% | 0.3 yr |
| WWDWoodward, Inc. | $63M | 3.5% | +97.0% | 0.8 yr |
| SOLSSolstice Advanced Materi | $55M | 3.1% | — | 0.5 yr |
| CVNACarvana Co. | $54M | 3.0% | +50.4% | 2.0 yr |
| SPOTSpotify Technology S.A. | $48M | 2.7% | -11.8% | 1.3 yr |
| AMDAdvanced Micro Devices, | $47M | 2.6% | +98.0% | 0.5 yr |
| SHOPShopify Inc. | $45M | 2.5% | +24.2% | 1.8 yr |
| CLFCleveland-Cliffs Inc. | $44M | 2.5% | +2.8% | 0.3 yr |
| CRWVCoreWeave, Inc. Class A | $41M | 2.3% | +108.9% | 0.5 yr |
| NUNu Holdings Ltd. | $36M | 2.0% | +40.3% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors27.3%+7.5pp$488M
Specialty Retail14.7%-3.8pp$263M
Aerospace & Defense7.8%$139M
Software - Application6.1%-4.5pp$109M
Internet Content & Information5.1%-2.5pp$92M
Chemicals - Specialty4.4%+3.8pp$79M
Hardware, Equipment & Parts3.7%$66M
Aluminum3.6%$63M
Software - Infrastructure3.5%+1.1pp$62M
Auto - Dealerships3.0%+0.6pp$54M
Country
US72.2%-9.3pp
SG7.1%+1.0pp
TW6.6%+2.0pp
CA4.4%+3.8pp
LU2.7%
BR2.0%
Unknown1.8%
FR1.8%
Top 5: 36.0% · Top 10: 52.6% · Top 25: 82.0%
Top buys this quarter · 15
| RTX RTX Corporationnew | +$76M |
| CLF Cleveland-Cliffs Inc.new | +$44M |
| CLS Celestica Inc.new | +$35M |
| CSTM Constellium SEnew | +$32M |
| AMZN Amazon.com, Inc. | +$32M |
| SNDK Sandisk Corporationnew | +$31M |
| SHOP Shopify Inc. | +$31M |
| CENX Century Aluminum Companynew | +$31M |
| KLAC KLA Corporationnew | +$29M |
| AMAT Applied Materials, Inc.new | +$28M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$77M |
| MSFT Microsoft Corporation | −$76M |
| CRS Carpenter Technology Corporati | −$73M |
| DIS The Walt Disney Company | −$49M |
| NTRA Natera, Inc. | −$42M |
| SOLS Solstice Advanced Materials In | −$38M |
| FERG Ferguson plc | −$35M |
| WWD Woodward, Inc. | −$32M |
| SITE SiteOne Landscape Supply, Inc. | −$31M |
| AGX Argan, Inc. | −$30M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.79B | 49 | +34.44% | +17.59% | +16.85% | -0.13B |
| 2025-12-31 | $2.06B | 44 | +31.38% | +17.72% | +13.66% | -0.05B |
| 2025-09-30 | $2.06B | 42 | +47.54% | +17.52% | +30.02% | +0.02B |
| 2025-06-30 | $1.82B | 38 | +47.76% | +14.94% | +32.82% | +0.06B |
| 2025-03-31 | $1.39B | 32 | +17.42% | +8.30% | +9.12% | +0.02B |
| 2024-12-31 | $1.52B | 34 | +47.54% | +24.89% | +22.65% | -0.13B |
| 2024-09-30 | $1.44B | 28 | +49.47% | +36.04% | +13.44% | -0.10B |
| 2024-06-30 | $1.37B | 27 | +31.56% | +24.49% | +7.07% | -0.07B |
| 2024-03-31 | $1.43B | 27 | +58.35% | +29.62% | +28.73% | +0.10B |
| 2023-12-31 | $1.17B | 23 | +63.97% | +26.18% | +37.79% | -0.00B |
| 2023-09-30 | $1.01B | 20 | -1.34% | -3.22% | +1.88% | +0.04B |
| 2023-06-30 | $986M | 22 | +21.28% | +8.68% | +12.60% | +0.10B |
| 2023-03-31 | $728M | 20 | +18.03% | +7.46% | +10.57% | +0.05B |
| 2022-12-31 | $572M | 19 | — | — | — | — |