Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+14.89%
adds when stocks drop
when a holding falls −10%+
Middle response
-36.59%
baseline attrition
Rally response
-12.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LITELumentum Holdings Inc. | $27M | 6.9% | +1027.3% | 0.5 yr |
| KEYSKeysight Technologies, I | $24M | 6.4% | +88.5% | 0.3 yr |
| LRCXLam Research Corporation | $23M | 6.1% | +196.1% | 1.3 yr |
| NETCloudflare, Inc. | $22M | 5.8% | +83.1% | 0.5 yr |
| COHRCoherent, Inc. | $21M | 5.5% | +266.8% | 1.0 yr |
| BEBloom Energy Corporation | $21M | 5.4% | +589.2% | 0.8 yr |
| NTRANatera, Inc. | $20M | 5.2% | +41.4% | 1.5 yr |
| TSMTaiwan Semiconductor Man | $18M | 4.8% | +105.6% | 1.3 yr |
| PLPlanet Labs PBC | $16M | 4.2% | +726.9% | 0.5 yr |
| CAMTCamtek Ltd. | $16M | 4.2% | +158.6% | 0.3 yr |
| WGSGeneDx Holdings Corp. | $15M | 4.1% | -27.5% | 1.5 yr |
| RKLBRocket Lab USA, Inc. | $15M | 4.0% | +259.2% | 0.8 yr |
| NOKNokia Oyj | $12M | 3.1% | +57.0% | 0.3 yr |
| CIENCiena Corporation | $11M | 2.8% | +542.4% | 0.3 yr |
| AMPXAmprius Technologies, In | $11M | 2.8% | +529.1% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors26.6%+21.5pp$102M
Communication Equipment14.1%$54M
Hardware, Equipment & Parts14.0%$54M
Software - Infrastructure11.4%+2.3pp$44M
Aerospace & Defense10.5%+3.6pp$40M
Electrical Equipment & Parts9.3%$35M
Medical - Diagnostics & Research5.2%+2.4pp$20M
Medical - Healthcare Information Services4.1%-5.7pp$15M
Software - Application1.1%-31.6pp$4M
Auto - Manufacturers0.9%$3M
Country
US83.7%+11.2pp
IL6.3%-1.7pp
TW4.8%
FI3.1%
NL1.4%
SG0.7%-5.1pp
Top 5: 30.7% · Top 10: 54.5% · Top 25: 87.3%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| WGS | $25M | -0.01B | -27.5% |
Top buys this quarter · 15
| KEYS Keysight Technologies, Inc.new | +$24M |
| NET Cloudflare, Inc. | +$17M |
| CAMT Camtek Ltd.new | +$16M |
| LITE Lumentum Holdings Inc. | +$15M |
| NOK Nokia Oyjnew | +$12M |
| CIEN Ciena Corporationnew | +$11M |
| AMPX Amprius Technologies, Inc.new | +$11M |
| TSEM Tower Semiconductor Ltd.new | +$8M |
| RKLB Rocket Lab USA, Inc. | +$8M |
| AMAT Applied Materials, Inc.new | +$7M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$21M |
| APP AppLovin Corporationexit | −$18M |
| TSLA Tesla, Inc. | −$17M |
| AVGO Broadcom Inc. | −$16M |
| AXON Axon Enterprise, Inc.exit | −$14M |
| SHOP Shopify Inc.exit | −$14M |
| SITM SiTime Corporation | −$12M |
| ESTA Establishment Labs Holdings Inexit | −$11M |
| PL Planet Labs PBC | −$10M |
| COHR Coherent, Inc. | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $382M | 42 | +59.38% | +17.59% | +41.79% | +0.01B |
| 2025-12-31 | $358M | 24 | +42.40% | +17.72% | +24.68% | -0.02B |
| 2025-09-30 | $352M | 24 | +17.06% | +8.12% | +8.93% | -0.09B |
| 2025-06-30 | $382M | 42 | +21.24% | +10.78% | +10.46% | +0.08B |
| 2025-03-31 | $252M | 25 | -7.15% | -4.27% | -2.88% | -0.05B |
| 2024-12-31 | $329M | 23 | — | — | — | — |