Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-42.98%
trims when stocks drop
when a holding falls −10%+
Middle response
-58.40%
baseline attrition
Rally response
-52.48%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LITELumentum Holdings Inc. | $18M | 3.3% | +1027.3% | 1.3 yr |
| AXTIAXT, Inc. | $15M | 2.7% | +3941.1% | 0.5 yr |
| — | $12M | 2.2% | — | 1.3 yr |
| MRVLMarvell Technology, Inc. | $12M | 2.1% | +61.3% | 1.3 yr |
| PLTRPalantir Technologies In | $11M | 2.0% | +73.3% | 1.5 yr |
| PBRPetróleo Brasileiro S.A | $10M | 1.9% | +54.2% | 1.3 yr |
| XOMExxon Mobil Corporation | $9M | 1.7% | +47.6% | 1.3 yr |
| CFCF Industries Holdings, | $8M | 1.6% | +70.0% | 1.5 yr |
| LNGCheniere Energy, Inc. | $8M | 1.6% | +23.8% | 1.0 yr |
| PBR-APetróleo Brasileiro S.A | $8M | 1.5% | — | 1.5 yr |
| LRCXLam Research Corporation | $8M | 1.5% | +196.1% | 1.3 yr |
| CVXChevron Corporation | $8M | 1.4% | +29.2% | 0.3 yr |
| SLBSLB N.V. | $8M | 1.4% | +26.7% | 1.3 yr |
| VVisa Inc. | $6M | 1.2% | -13.1% | 1.3 yr |
| AAPLApple Inc. | $6M | 1.2% | +14.7% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.6%+10.4pp$73M
Oil & Gas Integrated8.9%+8.4pp$48M
Oil & Gas Exploration & Production6.4%+6.0pp$35M
Biotechnology5.1%-1.7pp$28M
Communication Equipment4.6%+4.0pp$25M
Unknown4.2%-4.6pp$23M
Oil & Gas Equipment & Services4.0%+3.6pp$22M
Software - Infrastructure3.5%+1.3pp$19M
Software - Application3.3%-0.7pp$18M
Oil & Gas Midstream2.7%+2.1pp$14M
Country
US75.6%+3.0pp
BR4.7%+3.9pp
Unknown4.2%-4.6pp
CA4.2%+0.7pp
GB2.3%+0.4pp
IL1.2%+0.8pp
IE0.9%+0.2pp
CN0.9%-1.5pp
Top 5: 12.4% · Top 10: 20.6% · Top 25: 36.6%
Top buys this quarter · 15
| LITE Lumentum Holdings Inc. | +$12M |
| MRVL Marvell Technology, Inc. | +$11M |
| PBR Petróleo Brasileiro S.A. - Pe | +$10M |
| XOM Exxon Mobil Corporation | +$9M |
| LNG Cheniere Energy, Inc. | +$8M |
| CF CF Industries Holdings, Inc. | +$8M |
| CVX Chevron Corporationnew | +$8M |
| SLB SLB N.V. | +$8M |
| BSX Boston Scientific Corporation | +$6M |
| V Visa Inc. | +$6M |
Top sells this quarter · 15
| ONDS Ondas Holdings Inc. | −$31M |
| MU Micron Technology, Inc. | −$27M |
| TSLA Tesla, Inc. | −$24M |
| RKLB Rocket Lab USA, Inc. | −$20M |
| AAPL Apple Inc. | −$11M |
| CRWV CoreWeave, Inc. Class A Commonexit | −$11M |
| CORT Corcept Therapeutics Incorpora | −$10M |
| COIN Coinbase Global, Inc. | −$9M |
| IREN IREN Limitedexit | −$9M |
| SNDK Sandisk Corporation | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $540M | 2541 | +31.96% | +17.59% | +14.37% | +0.12B |
| 2025-12-31 | $411M | 2087 | +17.85% | +17.72% | +0.13% | +0.28B |
| 2025-09-30 | $144M | 1870 | +21.08% | +8.12% | +12.96% | -0.02B |
| 2025-06-30 | $139M | 1933 | +18.97% | +10.78% | +8.19% | -0.02B |
| 2025-03-31 | $134M | 2117 | -8.84% | -4.27% | -4.57% | +0.04B |
| 2024-12-31 | $102M | 1652 | — | — | — | — |