Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.13%
adds when stocks drop
when a holding falls −10%+
Middle response
-16.20%
baseline attrition
Rally response
-13.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $50M | 19.7% | +105.6% | 2.3 yr |
| GOOGAlphabet Inc. | $40M | 16.0% | +84.3% | 0.8 yr |
| SNPSSynopsys, Inc. | $33M | 13.0% | -7.5% | 1.0 yr |
| AXTIAXT, Inc. | $16M | 6.4% | +3941.1% | 0.5 yr |
| TSLATesla, Inc. | $16M | 6.2% | +43.4% | 1.0 yr |
| SNDKSandisk Corporation | $13M | 5.1% | +1234.5% | 0.5 yr |
| ATATAtour Lifestyle Holdings | $11M | 4.5% | +32.6% | 1.5 yr |
| TSEMTower Semiconductor Ltd. | $10M | 4.1% | +392.1% | 0.3 yr |
| LMTLockheed Martin Corporat | $8M | 3.2% | +39.0% | 0.3 yr |
| HUYAHUYA Inc. | $6M | 2.6% | +72.8% | 0.5 yr |
| RIGTransocean Ltd. | $6M | 2.5% | +109.1% | 0.3 yr |
| GLDSPDR Gold Shares | $6M | 2.5% | — | 0.3 yr |
| EDUNew Oriental Education & | $6M | 2.2% | +19.8% | 1.3 yr |
| INTCIntel Corporation | $4M | 1.7% | +94.3% | 0.8 yr |
| NUNu Holdings Ltd. | $4M | 1.6% | +40.3% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors32.5%+11.9pp$82M
Internet Content & Information18.6%+17.2pp$47M
Software - Infrastructure13.0%$33M
Auto - Manufacturers6.2%$16M
Hardware, Equipment & Parts5.9%$15M
Travel Lodging5.8%+3.4pp$15M
Aerospace & Defense3.2%$8M
Specialty Retail2.8%-7.2pp$7M
Oil & Gas Drilling2.5%$6M
Asset Management2.5%$6M
Country
US57.6%+48.7pp
TW19.7%+5.1pp
CN11.4%-39.9pp
IL4.1%
CH2.5%
BR1.6%
SG1.5%-9.7pp
KR1.5%
Top 5: 61.2% · Top 10: 80.7% · Top 25: 99.4%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| TSM Taiwan Semiconductor Manufactu | +$20M |
| TSLA Tesla, Inc. | +$14M |
| TSEM Tower Semiconductor Ltd.new | +$10M |
| LMT Lockheed Martin Corporationnew | +$8M |
| RIG Transocean Ltd.new | +$6M |
| HUYA HUYA Inc. | +$4M |
| NU Nu Holdings Ltd.new | +$4M |
| CPNG Coupang, Inc.new | +$4M |
| ATAT Atour Lifestyle Holdings Limit | +$3M |
| SE Sea Limitednew | +$3M |
Top sells this quarter · 15
| NVDA NVIDIA Corporation | −$27M |
| HOOD Robinhood Markets, Inc. | −$10M |
| AVGO Broadcom Inc.exit | −$10M |
| AXTI AXT, Inc. | −$7M |
| TAL TAL Education Groupexit | −$6M |
| EDU New Oriental Education & Techn | −$6M |
| GOOG Alphabet Inc. | −$38M |
| ORCL Oracle Corporationexit | −$4M |
| SNPS Synopsys, Inc. | −$4M |
| LITE Lumentum Holdings Inc. | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $252M | 30 | +48.02% | +17.59% | +30.42% | +0.03B |
| 2025-12-31 | $210M | 19 | +43.63% | +17.72% | +25.91% | -0.04B |
| 2025-09-30 | $227M | 17 | +37.46% | +17.52% | +19.94% | -0.11B |
| 2025-06-30 | $283M | 25 | +18.07% | +14.94% | +3.13% | +0.13B |
| 2025-03-31 | $149M | 15 | +21.12% | +8.30% | +12.82% | -0.05B |
| 2024-12-31 | $192M | 22 | +20.84% | +24.89% | -4.04% | +0.01B |
| 2024-09-30 | $171M | 12 | +1.55% | +5.75% | -4.20% | -0.05B |
| 2024-06-30 | $217M | 13 | +7.71% | +4.38% | +3.33% | -0.05B |
| 2024-03-31 | $252M | 11 | +3.43% | +10.39% | -6.97% | +0.05B |
| 2023-12-31 | $191M | 11 | — | — | — | — |