Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.94%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.92%
baseline attrition
Rally response
-21.08%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WMTWalmart Inc. | $70M | 5.7% | +42.8% | 2.5 yr |
| CCitigroup Inc. | $58M | 4.8% | +63.9% | 2.3 yr |
| ICEIntercontinental Exchang | $51M | 4.2% | -7.8% | 1.3 yr |
| SCHWThe Charles Schwab Corpo | $50M | 4.1% | +21.5% | 2.3 yr |
| COFCapital One Financial Co | $49M | 4.0% | +3.1% | 1.3 yr |
| AMZNAmazon.com, Inc. | $41M | 3.3% | +9.5% | 2.5 yr |
| SPOTSpotify Technology S.A. | $35M | 2.8% | -11.8% | 1.0 yr |
| PEPPepsiCo, Inc. | $35M | 2.8% | +7.7% | 1.3 yr |
| MKSIMKS Inc. | $35M | 2.8% | +188.8% | 0.8 yr |
| HBANHuntington Bancshares In | $34M | 2.8% | +8.2% | 1.5 yr |
| NVDANVIDIA Corporation | $28M | 2.3% | +60.9% | 2.5 yr |
| IVZInvesco Ltd. | $27M | 2.2% | +66.7% | 0.5 yr |
| PNCThe PNC Financial Servic | $27M | 2.2% | +22.7% | 1.8 yr |
| CMGChipotle Mexican Grill, | $25M | 2.1% | -36.2% | 0.5 yr |
| TOSTToast, Inc. | $25M | 2.0% | -20.1% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure8.9%+4.5pp$109M
Internet Content & Information7.0%+3.4pp$86M
Banks - Regional6.4%-0.4pp$79M
Semiconductors6.3%+3.5pp$77M
Banks - Diversified6.2%+1.1pp$76M
Financial - Capital Markets6.1%+2.2pp$75M
Discount Stores5.7%-1.9pp$70M
Restaurants5.4%+5.1pp$66M
Financial - Credit Services4.5%+0.1pp$55M
Hardware, Equipment & Parts4.5%+4.3pp$55M
Country
US94.5%+2.6pp
LU2.8%
CA1.0%+0.9pp
Unknown0.5%
IE0.4%-0.3pp
BM0.3%-0.1pp
GB0.2%-0.4pp
TW0.1%
Top 5: 22.7% · Top 10: 37.4% · Top 25: 65.1%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$25M |
| PANW Palo Alto Networks, Inc.new | +$24M |
| DPZ Domino's Pizza, Inc. | +$22M |
| GFS GLOBALFOUNDRIES Inc.new | +$17M |
| ICE Intercontinental Exchange, Inc | +$17M |
| DASH DoorDash, Inc.new | +$15M |
| BROS Dutch Bros Inc.new | +$13M |
| JLL Jones Lang LaSalle Incorporate | +$13M |
| PNC The PNC Financial Services Gro | +$12M |
| PEP PepsiCo, Inc. | +$12M |
Top sells this quarter · 15
| SNDK Sandisk Corporation | −$49M |
| MKSI MKS Inc. | −$41M |
| STX Seagate Technology Holdings pl | −$27M |
| ANF Abercrombie & Fitch Co.exit | −$19M |
| AVGO Broadcom Inc.exit | −$17M |
| CBRE CBRE Group, Inc. | −$17M |
| KEYS Keysight Technologies, Inc.exit | −$16M |
| FIVE Five Below, Inc.exit | −$15M |
| QRVO Qorvo, Inc.exit | −$14M |
| AMD Advanced Micro Devices, Inc. | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.22B | 154 | +21.04% | +17.59% | +3.45% | -0.90B |
| 2025-12-31 | $2.20B | 157 | +18.14% | +17.72% | +0.42% | +0.75B |
| 2025-09-30 | $1.36B | 180 | +25.98% | +17.52% | +8.46% | -0.18B |
| 2025-06-30 | $1.50B | 170 | +29.88% | +14.94% | +14.94% | -0.09B |
| 2025-03-31 | $1.39B | 185 | +14.25% | +8.30% | +5.94% | +0.25B |
| 2024-12-31 | $1.21B | 43 | +35.62% | +24.89% | +10.73% | -0.48B |
| 2024-09-30 | $1.49B | 40 | +6.46% | +5.75% | +0.70% | -0.11B |
| 2024-06-30 | $1.50B | 36 | +0.42% | +4.38% | -3.96% | +0.18B |
| 2024-03-31 | $1.31B | 34 | +11.93% | +10.39% | +1.54% | +0.59B |
| 2023-12-31 | $651M | 27 | — | — | — | — |