Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.39%
adds when stocks drop
when a holding falls −10%+
Middle response
-46.79%
baseline attrition
Rally response
+6.69%
adds into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BITBBitwise Bitcoin ETF Trus | $63M | 21.3% | — | 1.3 yr |
| FBTCFidelity Wise Origin Bit | $62M | 21.1% | — | 1.5 yr |
| IBITiShares Bitcoin Trust ET | $56M | 19.1% | — | 1.5 yr |
| STRKMicroStrategy Incorporat | $30M | 10.4% | -8.0% | 0.8 yr |
| SBETSharplink, Inc. | $25M | 8.6% | — | 1.0 yr |
| CRCLCircle Internet Group | $16M | 5.4% | — | 0.5 yr |
| BTCGrayscale Bitcoin Mini T | $16M | 5.3% | — | 1.5 yr |
| HOODRobinhood Markets, Inc. | $8M | 2.6% | +66.5% | 0.5 yr |
| CORZCore Scientific, Inc. | $8M | 2.6% | +106.6% | 1.5 yr |
| CRWVCoreWeave, Inc. Class A | $3M | 1.0% | +108.9% | 0.3 yr |
| GEMIGemini Space Station, In | $3M | 1.0% | — | 0.3 yr |
| COINCoinbase Global, Inc. | $2M | 0.8% | +1.4% | 1.5 yr |
| STSSSharps Technology, Inc. | $2M | 0.7% | — | 0.3 yr |
| FWDIForward Industries, Inc. | $1M | 0.2% | — | 0.3 yr |
| TONXTON Strategy Co. | $0M | 0.0% | -47.1% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management - Cryptocurrency42.4%+21.9pp$125M
Asset Management24.5%-37.7pp$72M
Financial - Capital Markets17.5%+16.6pp$51M
Software - Application10.4%$30M
Software - Infrastructure3.6%-7.6pp$10M
Financial - Data & Stock Exchanges0.8%-4.5pp$2M
Medical - Instruments & Supplies0.7%$2M
Apparel - Footwear & Accessories0.2%$1M
Country
US100.0%+0.0pp
Top 5: 80.5% · Top 10: 97.3% · Top 25: 100.0%
Top buys this quarter · 8
| STRK MicroStrategy Incorporated | +$16M |
| CRCL Circle Internet Group | +$15M |
| HOOD Robinhood Markets, Inc. | +$4M |
| CRWV CoreWeave, Inc. Class A Commonnew | +$3M |
| GEMI Gemini Space Station, Inc. Clanew | +$3M |
| STSS Sharps Technology, Inc.new | +$2M |
| FWDI Forward Industries, Inc.new | +$1M |
| TONX TON Strategy Co.new | +$0M |
Top sells this quarter · 9
| BITB Bitwise Bitcoin ETF Trust | −$0M |
| FBTC Fidelity Wise Origin Bitcoin F | −$0M |
| IBIT iShares Bitcoin Trust ETF | −$0M |
| CORZ Core Scientific, Inc. | −$9M |
| WULF TeraWulf Inc.exit | −$3M |
| BRR ProCap Financial, Inc.exit | −$2M |
| WU The Western Union Companyexit | −$1M |
| PYPL PayPal Holdings, Inc.exit | −$0M |
| COIN Coinbase Global, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $294M | 15 | -86.76% | +17.59% | -104.36% | +0.00B |
| 2025-12-31 | $352M | 14 | -91.18% | +17.72% | -108.90% | +0.05B |
| 2025-09-30 | $460M | 11 | -89.04% | +8.12% | -97.16% | +0.40B |
| 2025-06-30 | $529M | 9 | +120.60% | +10.78% | +109.82% | +0.08B |
| 2025-03-31 | $205M | 7 | -45.04% | -4.27% | -40.78% | -0.02B |
| 2024-12-31 | $417M | 9 | — | — | — | — |