Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.09%
trims when stocks drop
when a holding falls −10%+
Middle response
-10.81%
baseline attrition
Rally response
-21.75%
trims into rallies
when a holding rises +10%+
Top positions · 25
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FNFabrinet | $13M | 12.6% | +164.0% | 1.0 yr |
| CLSCelestica Inc. | $9M | 8.7% | +257.4% | 1.0 yr |
| LGNLegence Corp. Class A Co | $8M | 8.2% | — | 0.3 yr |
| FIXComfort Systems USA, Inc | $8M | 8.1% | +329.0% | 0.5 yr |
| ONTOOnto Innovation Inc. | $7M | 7.1% | +69.0% | 0.3 yr |
| VRTVertiv Holdings Co | $6M | 5.8% | +247.5% | 0.3 yr |
| BLBlackLine, Inc. | $6M | 5.5% | -23.6% | 2.0 yr |
| AAOIApplied Optoelectronics, | $5M | 4.8% | +451.1% | 0.5 yr |
| CGNTCognyte Software Ltd. | $4M | 4.3% | +3.8% | 2.5 yr |
| SIMOSilicon Motion Technolog | $4M | 4.2% | +127.9% | 0.3 yr |
| TERTeradyne, Inc. | $4M | 4.0% | +260.2% | 0.3 yr |
| CAMTCamtek Ltd. | $4M | 3.4% | +158.6% | 0.3 yr |
| TTMITTM Technologies, Inc. | $3M | 3.2% | +375.0% | 0.8 yr |
| NFLXNetflix, Inc. | $3M | 3.1% | +3.1% | 0.8 yr |
| COHRCoherent, Inc. | $3M | 3.0% | +266.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors28.3%$29M
Hardware, Equipment & Parts27.5%$28M
Engineering & Construction16.3%$17M
Electrical Equipment & Parts7.8%$8M
Software - Application7.2%-43.0pp$8M
Software - Infrastructure7.0%-18.5pp$7M
Entertainment3.1%$3M
Aerospace & Defense2.9%$3M
Country
US66.8%-17.2pp
KY12.6%
CA8.7%
IL7.7%-4.9pp
HK4.2%
Top 5: 44.7% · Top 10: 69.3% · Top 25: 100.0%
Top buys this quarter · 12
| CCCS CCC Intelligent Solutions Holdnew | +$0M |
| LGN Legence Corp. Class A Common snew | +$8M |
| ONTO Onto Innovation Inc.new | +$7M |
| VRT Vertiv Holdings Conew | +$6M |
| SIMO Silicon Motion Technology Corpnew | +$4M |
| TER Teradyne, Inc.new | +$4M |
| CAMT Camtek Ltd.new | +$4M |
| FN Fabrinet | +$3M |
| COHR Coherent, Inc.new | +$3M |
| SMTC Semtech Corporationnew | +$3M |
Top sells this quarter · 15
| SITM SiTime Corporationexit | −$15M |
| BL BlackLine, Inc. | −$14M |
| FIX Comfort Systems USA, Inc. | −$14M |
| AVGO Broadcom Inc.exit | −$7M |
| AAOI Applied Optoelectronics, Inc. | −$5M |
| ANET Arista Networks, Inc.exit | −$6M |
| SNOW Snowflake Inc.exit | −$5M |
| AXON Axon Enterprise, Inc.exit | −$4M |
| MU Micron Technology, Inc.exit | −$4M |
| AAON AAON, Inc.exit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $104M | 25 | +27.27% | +17.59% | +9.68% | -0.05B |
| 2025-12-31 | $151M | 28 | +7.67% | +17.72% | -10.05% | -0.05B |
| 2025-09-30 | $196M | 29 | +20.32% | +17.52% | +2.80% | -0.00B |
| 2025-06-30 | $175M | 24 | +11.60% | +14.94% | -3.34% | -0.00B |
| 2025-03-31 | $163M | 27 | +4.29% | +8.30% | -4.02% | -0.02B |
| 2024-12-31 | $217M | 28 | +39.26% | +24.89% | +14.38% | +0.00B |
| 2024-09-30 | $188M | 25 | +5.46% | +5.75% | -0.30% | +0.01B |
| 2024-06-30 | $172M | 29 | +1.50% | +4.38% | -2.88% | +0.04B |
| 2024-03-31 | $130M | 26 | +13.58% | +10.39% | +3.18% | +0.01B |
| 2023-12-31 | $105M | 27 | — | — | — | — |