Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.85%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.35%
baseline attrition
Rally response
-4.50%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ARWRArrowhead Pharmaceutical | $51M | 20.1% | +392.2% | 3.5 yr |
| EFSCEnterprise Financial Ser | $31M | 12.2% | +3.0% | 3.5 yr |
| WFCWells Fargo & Company | $8M | 3.1% | +13.3% | 3.5 yr |
| INTCIntel Corporation | $7M | 2.8% | +94.3% | 0.8 yr |
| GEGE Aerospace | $6M | 2.2% | +42.5% | 3.0 yr |
| BKThe Bank of New York Mel | $5M | 1.9% | +44.4% | 1.5 yr |
| CATCaterpillar Inc. | $5M | 1.9% | +117.8% | 1.5 yr |
| GSThe Goldman Sachs Group, | $5M | 1.9% | +58.1% | 1.8 yr |
| LRCXLam Research Corporation | $5M | 1.8% | +196.1% | 0.8 yr |
| GMGeneral Motors Company | $4M | 1.8% | +60.0% | 0.3 yr |
| WMTWalmart Inc. | $4M | 1.7% | +42.8% | 1.3 yr |
| STXSeagate Technology Holdi | $4M | 1.6% | +366.3% | 0.8 yr |
| AMATApplied Materials, Inc. | $4M | 1.6% | +137.6% | 0.3 yr |
| LLYEli Lilly and Company | $4M | 1.5% | +12.2% | 3.3 yr |
| MMM3M Company | $4M | 1.5% | +0.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology20.5%+14.4pp$52M
Semiconductors13.0%+9.7pp$33M
Banks - Regional12.6%-6.2pp$32M
Asset Management6.1%-4.0pp$16M
Aerospace & Defense5.3%+1.8pp$13M
Asset Management - Bonds4.0%-2.3pp$10M
Banks - Diversified3.5%-1.2pp$9M
Internet Content & Information3.3%-0.7pp$8M
Auto - Manufacturers2.9%+1.9pp$7M
Computer Hardware2.8%+1.4pp$7M
Country
US96.6%-1.4pp
SG1.6%
NL1.0%
IE0.5%-0.3pp
TW0.3%
ES0.1%
JP0.1%
Top 5: 40.4% · Top 10: 49.6% · Top 25: 68.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ARWR | $10M | +0.04B | 392.2% |
| AVGO | $2M | +0.00B | 86.0% |
| GE | $3M | +0.00B | 42.5% |
| GS | $2M | +0.00B | 58.1% |
| EFSC | $31M | +0.00B | 3.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ORLY | $2M | -0.00B | -3.4% |
Top buys this quarter · 15
| GM General Motors Companynew | +$4M |
| CAT Caterpillar Inc. | +$4M |
| AMAT Applied Materials, Inc.new | +$4M |
| LMT Lockheed Martin Corporationnew | +$4M |
| LRCX Lam Research Corporation | +$3M |
| ADI Analog Devices, Inc.new | +$3M |
| ASML ASML Holding N.V.new | +$2M |
| WDC Western Digital Corporationnew | +$2M |
| GOOG Alphabet Inc. | +$2M |
| STX Seagate Technology Holdings pl | +$2M |
Top sells this quarter · 15
| AMD Advanced Micro Devices, Inc. | −$4M |
| PLTR Palantir Technologies Inc. | −$4M |
| APP AppLovin Corporationexit | −$2M |
| NFLX Netflix, Inc.exit | −$2M |
| AXP American Express Company | −$2M |
| CRWD CrowdStrike Holdings, Inc. | −$2M |
| TMUS T-Mobile US, Inc.exit | −$2M |
| TTWO Take-Two Interactive Software,exit | −$1M |
| SHOP Shopify Inc.exit | −$1M |
| MU Micron Technology, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $255M | 127 | +48.46% | +17.59% | +30.87% | +0.01B |
| 2025-12-31 | $252M | 113 | +41.92% | +17.72% | +24.20% | -0.01B |
| 2025-09-30 | $230M | 120 | +33.32% | +17.52% | +15.80% | +0.01B |
| 2025-06-30 | $187M | 122 | +18.31% | +14.94% | +3.37% | -0.01B |
| 2025-03-31 | $172M | 121 | +2.73% | +8.30% | -5.57% | +0.00B |
| 2024-12-31 | $182M | 127 | +13.39% | +24.89% | -11.50% | -0.01B |
| 2024-09-30 | $176M | 120 | +23.23% | +36.04% | -12.81% | +0.01B |
| 2024-06-30 | $166M | 116 | +10.89% | +24.49% | -13.61% | +0.00B |
| 2024-03-31 | $163M | 114 | +19.23% | +29.62% | -10.40% | +0.01B |
| 2023-12-31 | $150M | 109 | +1.21% | +26.18% | -24.97% | -0.01B |
| 2023-09-30 | $136M | 106 | -7.15% | -3.22% | -3.93% | +0.00B |
| 2023-06-30 | $147M | 107 | +7.41% | +8.68% | -1.27% | -0.00B |
| 2023-03-31 | $140M | 112 | -12.17% | +7.46% | -19.62% | +0.00B |
| 2022-12-31 | $154M | 99 | — | — | — | — |