Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.14%
baseline attrition
Rally response
-16.73%
trims into rallies
when a holding rises +10%+
Top positions · 10
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| YMMFull Truck Alliance Co. | $92M | 44.5% | -35.0% | 2.0 yr |
| BABAAlibaba Group Holding Li | $66M | 31.9% | -3.5% | 2.5 yr |
| — | $23M | 11.3% | — | 0.8 yr |
| PDDPDD Holdings Inc. | $10M | 4.7% | -13.7% | 2.0 yr |
| JOYYJOYY, Inc. Sponsored ADR | $4M | 1.9% | +49.5% | 1.8 yr |
| METAMeta Platforms, Inc. | $4M | 1.8% | -0.4% | 0.5 yr |
| NVDANVIDIA Corporation | $4M | 1.7% | +60.9% | 0.5 yr |
| MUMicron Technology, Inc. | $3M | 1.3% | +289.6% | 1.3 yr |
| MOMOHello Group Inc. | $1M | 0.7% | -7.8% | 2.8 yr |
| LITELumentum Holdings Inc. | $1M | 0.3% | +1027.3% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Application44.5%$92M
Specialty Retail36.6%$75M
Unknown11.3%$23M
Internet Content & Information4.3%-43.8pp$9M
Semiconductors3.0%-39.4pp$6M
Communication Equipment0.3%$1M
Country
CN77.1%+68.0pp
Unknown11.3%
US5.1%
IE4.7%
SG1.9%-37.1pp
Top 5: 94.2% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MOMO | $10M | -0.00B | -7.8% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $206M | 10 | +120.43% | +17.59% | +102.83% | -0.14B |
| 2025-12-31 | $223M | 7 | +47.55% | +17.72% | +29.84% | +0.10B |
| 2025-09-30 | $119M | 4 | +40.25% | +17.52% | +22.73% | -0.12B |
| 2025-06-30 | $209M | 5 | +29.67% | +14.94% | +14.73% | +0.08B |
| 2025-03-31 | $108M | 5 | +19.75% | +8.30% | +11.45% | -0.05B |
| 2024-12-31 | $156M | 9 | +27.84% | +24.89% | +2.95% | +0.01B |
| 2024-09-30 | $151M | 5 | +20.57% | +36.04% | -15.47% | -0.12B |
| 2024-06-30 | $260M | 8 | +14.91% | +24.49% | -9.58% | -0.08B |
| 2024-03-31 | $304M | 12 | -4.96% | +29.62% | -34.59% | +0.03B |
| 2023-12-31 | $244M | 8 | -1.92% | +26.18% | -28.10% | -0.02B |
| 2023-09-30 | $275M | 5 | -0.64% | -3.22% | +2.58% | -0.06B |
| 2023-06-30 | $340M | 8 | -8.25% | +8.68% | -16.93% | -0.10B |
| 2023-03-31 | $478M | 10 | +13.88% | +7.46% | +6.42% | +0.06B |
| 2022-12-31 | $369M | 10 | — | — | — | — |