Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.15%
baseline attrition
Rally response
-3.80%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EHEHang Holdings Limited | $40M | 48.7% | -53.5% | 4.0 yr |
| HPFJohn Hancock Preferred I | $4M | 5.2% | — | 2.5 yr |
| BILState Street SPDR Bloomb | $2M | 2.8% | — | 1.0 yr |
| ARCMArrow Reserve Capital Ma | $2M | 2.0% | — | 1.0 yr |
| BTALAGF U.S. Market Neutral | $1M | 1.3% | — | 1.3 yr |
| MSFTMicrosoft Corporation | $1M | 1.1% | -0.6% | 4.0 yr |
| — | $1M | 1.1% | — | 0.8 yr |
| XLKState Street Technology | $1M | 1.1% | — | 1.3 yr |
| CLFCleveland-Cliffs Inc. | $1M | 1.0% | +2.8% | 2.0 yr |
| USBU.S. Bancorp | $1M | 1.0% | +27.1% | 3.8 yr |
| SMIZZacks Small/Mid Cap ETF | $1M | 1.0% | — | 0.8 yr |
| PGThe Procter & Gamble Com | $1M | 1.0% | -12.9% | 4.0 yr |
| ZECPZacks Earnings Consisten | $1M | 0.9% | — | 0.8 yr |
| NIONIO Inc. | $1M | 0.9% | +58.3% | 4.0 yr |
| BSJRInvesco BulletShares 202 | $1M | 0.9% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense48.9%-32.4pp$40M
Asset Management20.3%+16.2pp$17M
Asset Management - Income5.2%+0.0pp$4M
Asset Management - Bonds3.5%$3M
Semiconductors2.2%+1.8pp$2M
Tobacco1.6%+0.8pp$1M
Auto - Manufacturers1.6%+0.9pp$1M
Banks - Diversified1.6%+0.6pp$1M
Software - Infrastructure1.5%+0.8pp$1M
Software - Application1.4%+1.2pp$1M
Country
CN49.6%-32.0pp
US48.2%+30.0pp
Unknown1.1%+0.9pp
SG0.4%
DK0.4%
CA0.3%
Top 5: 59.9% · Top 10: 65.3% · Top 25: 77.9%
Top buys this quarter · 15
| QCOM QUALCOMM Incorporatednew | +$0M |
| ZETA Zeta Global Holdings Corp.new | +$0M |
| OSCR Oscar Health, Inc.new | +$0M |
| MSFT Microsoft Corporation | +$0M |
| NVO Novo Nordisk A/Snew | +$0M |
| EXEL Exelixis, Inc. | +$0M |
| HIMS Hims & Hers Health, Inc.new | +$0M |
| UNH UnitedHealth Group Incorporate | +$0M |
| TDUP ThredUp Inc. | +$0M |
| MARA Marathon Digital Holdings, Incnew | +$0M |
Top sells this quarter · 15
| WDC Western Digital Corporationexit | −$1M |
| MEDP Medpace Holdings, Inc.exit | −$1M |
| ADBE Adobe Inc.exit | −$0M |
| LRCX Lam Research Corporation | −$0M |
| BMY Bristol-Myers Squibb Company | −$0M |
| LNTH Lantheus Holdings, Inc.exit | −$0M |
| MO Altria Group, Inc. | −$0M |
| EXPE Expedia Group, Inc. | −$0M |
| TOST Toast, Inc.exit | −$0M |
| ANET Arista Networks, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $82M | 83 | -41.98% | +17.59% | -59.57% | +0.01B |
| 2025-12-31 | $94M | 72 | -6.60% | +17.72% | -24.31% | -0.00B |
| 2025-09-30 | $126M | 81 | +34.49% | +17.52% | +16.97% | +0.01B |
| 2025-06-30 | $109M | 71 | +29.59% | +14.94% | +14.65% | +0.01B |
| 2025-03-31 | $113M | 45 | +6.09% | +8.30% | -2.21% | -0.01B |
| 2024-12-31 | $94M | 41 | -2.27% | +24.89% | -27.16% | -0.01B |
| 2024-09-30 | $89M | 35 | -14.66% | +36.04% | -50.70% | +0.00B |
| 2024-06-30 | $83M | 27 | -9.57% | +24.49% | -34.06% | -0.00B |
| 2024-03-31 | $123M | 24 | +72.77% | +29.62% | +43.15% | -0.01B |
| 2023-12-31 | $109M | 28 | +75.13% | +26.18% | +48.95% | -0.00B |
| 2023-09-30 | $113M | 28 | +80.87% | +21.57% | +59.30% | -0.01B |
| 2023-06-30 | $111M | 24 | +13.02% | +19.42% | -6.40% | -0.03B |
| 2023-03-31 | $101M | 24 | +19.38% | +7.46% | +11.92% | -0.02B |
| 2022-12-31 | $97M | 26 | +1.07% | +7.56% | -6.49% | -0.01B |
| 2022-09-30 | $102M | 160 | -30.91% | -4.93% | -25.99% | +0.01B |
| 2022-06-30 | $129M | 145 | — | — | — | — |