Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.71%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.19%
steady accumulation
Rally response
-0.17%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| COPXGlobal X - Copper Miners | $22M | 4.8% | — | 2.5 yr |
| GDXVanEck Gold Miners ETF | $20M | 4.4% | — | 2.5 yr |
| IAUiShares Gold Trust | $19M | 4.2% | — | 2.5 yr |
| IAUMiShares Gold Trust Micro | $18M | 4.0% | — | 2.5 yr |
| GDXJVanEck Junior Gold Miner | $17M | 3.8% | — | 2.5 yr |
| TPLTexas Pacific Land Corpo | $16M | 3.6% | +8.1% | 2.5 yr |
| XLEState Street Energy Sele | $16M | 3.4% | — | 2.5 yr |
| CTASimplify Managed Futures | $14M | 3.1% | — | 1.0 yr |
| SPPPSprott Physical Platinum | $14M | 3.0% | — | 1.5 yr |
| SLVPiShares MSCI Global Silv | $12M | 2.6% | — | 2.5 yr |
| REFIChicago Atlantic Real Es | $11M | 2.4% | -14.2% | 2.0 yr |
| URNMSprott Uranium Miners ET | $10M | 2.1% | — | 2.5 yr |
| KCCAKraneShares California C | $10M | 2.1% | — | 0.8 yr |
| NVDANVIDIA Corporation | $8M | 1.8% | +60.9% | 2.5 yr |
| BITBBitwise Bitcoin ETF Trus | $8M | 1.6% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management40.3%+7.5pp$185M
Oil & Gas Exploration & Production8.3%-2.2pp$38M
Asset Management - Global7.9%-1.1pp$36M
Asset Management - Cryptocurrency4.9%-3.9pp$23M
Semiconductors3.4%+1.0pp$15M
REIT - Residential3.0%-0.2pp$14M
REIT - Mortgage2.4%-0.8pp$11M
Oil & Gas Integrated2.2%-0.2pp$10M
Software - Infrastructure1.9%-0.1pp$9M
Uranium1.8%+0.7pp$8M
Country
US91.4%-3.0pp
CA7.1%+2.8pp
GB0.5%-0.1pp
IE0.3%+0.1pp
TW0.2%+0.0pp
SG0.1%
BR0.1%+0.0pp
CH0.1%
Top 5: 21.2% · Top 10: 36.8% · Top 25: 59.8%
Top buys this quarter · 15
| MAA Mid-America Apartment Communit | +$1M |
| REFI Chicago Atlantic Real Estate F | +$1M |
| CPT Camden Property Trust | +$1M |
| DLR Digital Realty Trust, Inc. | +$0M |
| MSFT Microsoft Corporation | +$3M |
| FITB Fifth Third Bancorpnew | +$0M |
| SNDK Sandisk Corporationnew | +$0M |
| COIN Coinbase Global, Inc. | +$2M |
| GLW Corning Incorporatednew | +$0M |
| SLAB Silicon Laboratories Inc.new | +$0M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$11M |
| TPL Texas Pacific Land Corporation | −$11M |
| MRK Merck & Co., Inc. | −$1M |
| WMT Walmart Inc. | −$0M |
| DNN Denison Mines Corp. | −$3M |
| WPM Wheaton Precious Metals Corp. | −$3M |
| APH Amphenol Corporation | −$0M |
| L Loews Corporation | −$0M |
| CAT Caterpillar Inc. | −$0M |
| CRWV CoreWeave, Inc. Class A Common | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $459M | 290 | +23.83% | +17.59% | +6.24% | -0.04B |
| 2025-12-31 | $470M | 277 | +17.10% | +17.72% | -0.62% | +0.03B |
| 2025-09-30 | $439M | 268 | +21.95% | +17.52% | +4.43% | +0.04B |
| 2025-06-30 | $375M | 242 | +22.27% | +14.94% | +7.33% | +0.00B |
| 2025-03-31 | $346M | 224 | +16.04% | +8.30% | +7.74% | +0.02B |
| 2024-12-31 | $321M | 212 | +28.16% | +24.89% | +3.27% | +0.00B |
| 2024-09-30 | $303M | 215 | +7.57% | +5.75% | +1.82% | +0.02B |
| 2024-06-30 | $260M | 196 | +2.69% | +4.38% | -1.69% | +0.03B |
| 2024-03-31 | $224M | 172 | +10.51% | +10.39% | +0.11% | +0.04B |
| 2023-12-31 | $165M | 146 | — | — | — | — |