Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.10%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.78%
baseline attrition
Rally response
-16.59%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $7M | 4.8% | +60.9% | 1.8 yr |
| AAPLApple Inc. | $7M | 4.7% | +14.7% | 1.8 yr |
| LRCXLam Research Corporation | $7M | 4.6% | +196.1% | 0.5 yr |
| KLACKLA Corporation | $7M | 4.6% | +118.2% | 0.5 yr |
| GOOGAlphabet Inc. | $7M | 4.5% | +84.3% | 0.8 yr |
| ADIAnalog Devices, Inc. | $7M | 4.5% | +60.2% | 0.3 yr |
| CSCOCisco Systems, Inc. | $6M | 4.3% | +28.1% | 0.3 yr |
| VLOValero Energy Corporatio | $6M | 4.1% | +92.6% | 0.5 yr |
| BKThe Bank of New York Mel | $5M | 3.4% | +44.4% | 0.5 yr |
| RTXRTX Corporation | $5M | 3.2% | +48.1% | 1.0 yr |
| JPMJPMorgan Chase & Co. | $4M | 2.9% | +21.8% | 1.8 yr |
| PAHCPhibro Animal Health Cor | $4M | 2.7% | +162.4% | 1.3 yr |
| WMTWalmart Inc. | $4M | 2.5% | +42.8% | 1.8 yr |
| LHXL3Harris Technologies, I | $3M | 2.4% | +67.7% | 0.5 yr |
| TJXThe TJX Companies, Inc. | $3M | 2.4% | +32.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors24.2%+19.5pp$35M
Aerospace & Defense6.2%$9M
Asset Management6.0%-1.5pp$9M
Medical - Distribution5.6%+4.0pp$8M
Banks - Diversified5.2%+3.2pp$8M
Internet Content & Information4.8%+4.4pp$7M
Consumer Electronics4.7%+3.4pp$7M
Communication Equipment4.3%-0.4pp$6M
Oil & Gas Refining & Marketing4.3%+4.1pp$6M
Financial - Capital Markets3.1%+1.4pp$5M
Country
US99.7%+3.6pp
IE0.3%-0.1pp
Top 5: 23.3% · Top 10: 42.7% · Top 25: 77.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| PAHC | $4M | +0.01B | 162.4% |
| AVGO | $5M | +0.00B | 86.0% |
| NRG | $3M | +0.00B | 55.0% |
| WMT | $4M | +0.00B | 42.8% |
| GS | $2M | +0.00B | 58.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| ADI Analog Devices, Inc.new | +$7M |
| CSCO Cisco Systems, Inc.new | +$6M |
| AAPL Apple Inc. | +$5M |
| CHRW C.H. Robinson Worldwide, Inc.new | +$3M |
| HAS Hasbro, Inc.new | +$3M |
| KLAC KLA Corporation | +$3M |
| ETR Entergy Corporationnew | +$2M |
| STLD Steel Dynamics, Inc.new | +$2M |
| GS The Goldman Sachs Group, Inc. | +$2M |
| AMAT Applied Materials, Inc.new | +$2M |
Top sells this quarter · 15
| VRSN VeriSign, Inc. | −$7M |
| MSFT Microsoft Corporation | −$5M |
| 0HQN.L Cboe Global Markets, Inc. | −$5M |
| DELL Dell Technologies Inc. | −$5M |
| T AT&T Inc.exit | −$5M |
| GILD Gilead Sciences, Inc.exit | −$4M |
| LRCX Lam Research Corporation | −$3M |
| TOTB.DE TotalEnergies SEexit | −$3M |
| ABBV AbbVie Inc. | −$3M |
| AVGO Broadcom Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $145M | 69 | +24.07% | +17.59% | +6.48% | -0.02B |
| 2025-12-31 | $162M | 73 | +22.41% | +17.72% | +4.69% | -0.00B |
| 2025-09-30 | $161M | 82 | +20.30% | +17.52% | +2.78% | -0.00B |
| 2025-06-30 | $153M | 71 | +8.12% | +10.78% | -2.66% | +0.03B |
| 2025-03-31 | $118M | 70 | +2.66% | -4.27% | +6.92% | -0.02B |
| 2024-12-31 | $133M | 70 | +0.50% | +2.49% | -1.99% | +0.00B |
| 2024-09-30 | $132M | 74 | — | — | — | — |