Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.24%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.95%
baseline attrition
Rally response
-8.72%
trims into rallies
when a holding rises +10%+
Top positions · 19
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $204M | 50.2% | +60.9% | 1.5 yr |
| AVGOBroadcom Inc. | $54M | 13.2% | +86.0% | 1.5 yr |
| LITELumentum Holdings Inc. | $37M | 9.0% | +1027.3% | 0.5 yr |
| CIENCiena Corporation | $22M | 5.3% | +542.4% | 0.8 yr |
| LRCXLam Research Corporation | $17M | 4.1% | +196.1% | 0.3 yr |
| ANETArista Networks, Inc. | $11M | 2.6% | +58.5% | 1.5 yr |
| HOODRobinhood Markets, Inc. | $9M | 2.3% | +66.5% | 1.0 yr |
| COHRCoherent, Inc. | $9M | 2.2% | +266.8% | 0.5 yr |
| — | $9M | 2.2% | — | 1.5 yr |
| ISRGIntuitive Surgical, Inc. | $8M | 2.0% | -6.9% | 1.5 yr |
| VRTVertiv Holdings Co | $7M | 1.7% | +247.5% | 0.5 yr |
| GEVGE Vernova Inc. | $4M | 1.1% | +186.8% | 0.3 yr |
| TKOTKO Group Holdings, Inc. | $4M | 1.0% | +33.8% | 0.5 yr |
| AVAVAeroVironment, Inc. | $4M | 0.9% | +53.6% | 1.3 yr |
| SITMSiTime Corporation | $3M | 0.8% | +125.9% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors68.3%+13.4pp$278M
Communication Equipment14.3%+14.3pp$58M
Computer Hardware2.6%-4.4pp$11M
Financial - Capital Markets2.3%$9M
Hardware, Equipment & Parts2.2%$9M
Unknown2.2%-0.0pp$9M
Medical - Devices2.0%-0.6pp$8M
Electrical Equipment & Parts1.9%$8M
Renewable Utilities1.1%$4M
Entertainment1.0%$4M
Country
US97.8%+0.0pp
Unknown2.2%-0.0pp
Top 5: 81.8% · Top 10: 93.1% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $127M | +0.08B | 60.9% |
| AVGO | $22M | +0.02B | 86.0% |
| GOOG | $16M | +0.01B | 84.3% |
| ANET | $19M | +0.01B | 58.5% |
| AVAV | $0M | +0.00B | 53.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ISRG | $9M | -0.00B | -6.9% |
Top buys this quarter · 13
| LRCX Lam Research Corporationnew | +$17M |
| AVGO Broadcom Inc. | +$13M |
| LITE Lumentum Holdings Inc. | +$9M |
| CIEN Ciena Corporation | +$8M |
| GEV GE Vernova Inc.new | +$4M |
| COHR Coherent, Inc. | +$4M |
| SITM SiTime Corporationnew | +$3M |
| VRT Vertiv Holdings Co | +$3M |
| AVAV AeroVironment, Inc. | +$2M |
| GOOG Alphabet Inc. | +$1M |
Top sells this quarter · 11
| MSFT Microsoft Corporationexit | −$56M |
| SNPS Synopsys, Inc.exit | −$18M |
| DELL Dell Technologies Inc.exit | −$14M |
| AMD Advanced Micro Devices, Inc.exit | −$5M |
| KRMN Karman Holdings Inc.exit | −$4M |
| PODD Insulet Corporationexit | −$1M |
| GRND Grindr Inc.exit | −$0M |
| ARKX ARK Space & Defense Innovationexit | −$0M |
| XOVR ERShares Private-Public Crossoexit | −$0M |
| ROBO L&G ROBO Global Robotics and Aexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $407M | 19 | +55.61% | +17.59% | +38.02% | -0.06B |
| 2025-12-31 | $480M | 25 | +32.49% | +17.72% | +14.77% | -0.02B |
| 2025-09-30 | $501M | 24 | +15.25% | +8.12% | +7.13% | -0.01B |
| 2025-06-30 | $443M | 21 | +38.57% | +10.78% | +27.79% | -0.02B |
| 2025-03-31 | $334M | 18 | -17.39% | -4.27% | -13.12% | -0.00B |
| 2024-12-31 | $409M | 18 | — | — | — | — |