Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.51%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.64%
baseline attrition
Rally response
-6.20%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UNHUnitedHealth Group Incor | $32M | 7.5% | -46.9% | 3.8 yr |
| BABAAlibaba Group Holding Li | $30M | 7.1% | -3.5% | 3.8 yr |
| XOMExxon Mobil Corporation | $30M | 7.0% | +47.6% | 0.8 yr |
| NUNu Holdings Ltd. | $21M | 5.0% | +40.3% | 4.0 yr |
| SCHWThe Charles Schwab Corpo | $20M | 4.7% | +21.5% | 3.3 yr |
| MELIMercadoLibre, Inc. | $20M | 4.7% | -11.4% | 1.0 yr |
| NVONovo Nordisk A/S | $19M | 4.5% | -46.7% | 2.3 yr |
| UBERUber Technologies, Inc. | $18M | 4.3% | -1.3% | 3.5 yr |
| FICOFair Isaac Corporation | $18M | 4.3% | -42.1% | 0.8 yr |
| TSMTaiwan Semiconductor Man | $18M | 4.2% | +105.6% | 3.5 yr |
| FTNTFortinet, Inc. | $18M | 4.2% | -15.1% | 2.5 yr |
| GOOGLAlphabet Inc. | $18M | 4.2% | — | 5.0 yr |
| CMGChipotle Mexican Grill, | $17M | 4.0% | -36.2% | 1.8 yr |
| NFLXNetflix, Inc. | $16M | 3.7% | +3.1% | 1.5 yr |
| FIFiserv, Inc. | $15M | 3.5% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail15.1%-9.6pp$64M
Semiconductors11.0%+1.6pp$47M
Software - Application8.6%+2.0pp$37M
Medical - Healthcare Plans7.5%+7.4pp$32M
Oil & Gas Integrated7.0%+6.6pp$30M
Banks - Diversified5.0%-2.2pp$21M
Software - Infrastructure4.8%-1.0pp$20M
Financial - Capital Markets4.7%-2.4pp$20M
Biotechnology4.5%-1.5pp$19M
Internet Content & Information4.5%-3.5pp$19M
Country
US69.3%+6.2pp
CN7.1%-9.1pp
BR5.0%-2.0pp
UY4.7%
DK4.5%-1.4pp
TW4.2%-3.0pp
NL3.3%+3.2pp
CA1.9%
Top 5: 31.3% · Top 10: 53.2% · Top 25: 96.8%
Top buys this quarter · 15
| XOM Exxon Mobil Corporation | +$18M |
| EQT EQT Corporationnew | +$9M |
| EXPE Expedia Group, Inc. | +$8M |
| SPGI S&P Global Inc.new | +$8M |
| BN Brookfield Corporationnew | +$8M |
| FICO Fair Isaac Corporation | +$8M |
| NFLX Netflix, Inc. | +$7M |
| NU Nu Holdings Ltd. | +$6M |
| UBER Uber Technologies, Inc. | +$4M |
| NVO Novo Nordisk A/S | +$19M |
Top sells this quarter · 15
| ASML ASML Holding N.V. | −$10M |
| LLY Eli Lilly and Company | −$6M |
| TSM Taiwan Semiconductor Manufactu | −$6M |
| AMZN Amazon.com, Inc. | −$5M |
| VST Vistra Corp. | −$3M |
| MCK McKesson Corporationexit | −$2M |
| NVDA NVIDIA Corporation | −$1M |
| HD The Home Depot, Inc.exit | −$1M |
| ORCL Oracle Corporationexit | −$1M |
| CAT Caterpillar Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $427M | 40 | +12.92% | +17.59% | -4.67% | +0.05B |
| 2025-12-31 | $418M | 49 | +24.36% | +17.72% | +6.65% | -0.00B |
| 2025-09-30 | $423M | 50 | +29.33% | +17.52% | +11.81% | +0.01B |
| 2025-06-30 | $382M | 55 | +24.09% | +14.94% | +9.15% | +0.04B |
| 2025-03-31 | $300M | 63 | +12.50% | +8.30% | +4.20% | +0.01B |
| 2024-12-31 | $294M | 80 | +24.19% | +24.89% | -0.70% | -0.00B |
| 2024-09-30 | $284M | 85 | +37.01% | +36.04% | +0.98% | +0.02B |
| 2024-06-30 | $255M | 84 | +26.48% | +24.49% | +1.99% | +0.02B |
| 2024-03-31 | $224M | 57 | +29.37% | +29.62% | -0.26% | +0.03B |
| 2023-12-31 | $179M | 44 | +23.39% | +26.18% | -2.79% | +0.01B |
| 2023-09-30 | $151M | 59 | +17.07% | +21.57% | -4.50% | +0.01B |
| 2023-06-30 | $147M | 64 | +17.95% | +19.42% | -1.47% | +0.01B |
| 2023-03-31 | $131M | 65 | -7.87% | -7.82% | -0.06% | -0.01B |
| 2022-12-31 | $134M | 78 | +8.98% | +7.56% | +1.42% | -0.00B |
| 2022-09-30 | $126M | 81 | -2.96% | -4.93% | +1.97% | -0.01B |
| 2022-06-30 | $137M | 108 | -17.05% | -16.11% | -0.94% | +0.01B |