Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.73%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.66%
baseline attrition
Rally response
+8.00%
adds into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $114M | 18.3% | +105.6% | 1.5 yr |
| METAMeta Platforms, Inc. | $108M | 17.4% | -0.4% | 1.5 yr |
| GOOGAlphabet Inc. | $85M | 13.6% | +84.3% | 1.3 yr |
| GOOGLAlphabet Inc. | $66M | 10.6% | — | 0.5 yr |
| NVDANVIDIA Corporation | $55M | 8.8% | +60.9% | 1.0 yr |
| MUMicron Technology, Inc. | $36M | 5.8% | +289.6% | 0.8 yr |
| TCOMTrip.com Group Limited | $33M | 5.3% | -21.7% | 1.5 yr |
| DASHDoorDash, Inc. | $32M | 5.1% | -17.8% | 0.3 yr |
| HOODRobinhood Markets, Inc. | $25M | 4.1% | +66.5% | 0.3 yr |
| PDDPDD Holdings Inc. | $15M | 2.5% | -13.7% | 1.5 yr |
| LITELumentum Holdings Inc. | $14M | 2.3% | +1027.3% | 0.8 yr |
| FUTUFutu Holdings Limited | $14M | 2.2% | +33.6% | 0.5 yr |
| RBLXRoblox Corporation | $11M | 1.8% | -3.0% | 0.3 yr |
| ONONOn Holding AG | $10M | 1.6% | -22.5% | 0.3 yr |
| BZKanzhun Limited | $4M | 0.6% | -29.6% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information46.7%+7.4pp$290M
Semiconductors32.9%+6.6pp$205M
Financial - Capital Markets6.3%+1.6pp$39M
Travel Services5.3%-9.2pp$33M
Specialty Retail2.5%-8.3pp$15M
Communication Equipment2.3%$14M
Electronic Gaming & Multimedia1.8%$11M
Apparel - Retail1.6%$10M
Staffing & Employment Services0.6%$4M
Country
US69.5%+22.2pp
TW18.3%-0.0pp
SG5.3%-9.2pp
IE2.5%-8.3pp
HK2.2%-2.5pp
CH1.6%
CN0.6%-3.9pp
Top 5: 68.7% · Top 10: 91.4% · Top 25: 100.0%
Top buys this quarter · 10
| META Meta Platforms, Inc. | +$87M |
| NVDA NVIDIA Corporation | +$37M |
| DASH DoorDash, Inc.new | +$32M |
| HOOD Robinhood Markets, Inc.new | +$25M |
| TCOM Trip.com Group Limited | +$17M |
| RBLX Roblox Corporationnew | +$11M |
| ONON On Holding AGnew | +$10M |
| MU Micron Technology, Inc. | +$10M |
| BZ Kanzhun Limitednew | +$4M |
| GOOGL Alphabet Inc. | +$0M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$51M |
| AMZN Amazon.com, Inc.exit | −$22M |
| MAR Marriott International, Inc.exit | −$16M |
| PDD PDD Holdings Inc. | −$11M |
| FIG Figma, Inc.exit | −$11M |
| HTHT H World Group Limitedexit | −$10M |
| TSM Taiwan Semiconductor Manufactu | −$111M |
| ATAT Atour Lifestyle Holdings Limitexit | −$7M |
| LITE Lumentum Holdings Inc. | −$11M |
| YUMC Yum China Holdings, Inc.exit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $622M | 15 | +43.17% | +17.59% | +25.57% | +0.13B |
| 2025-12-31 | $513M | 20 | +44.15% | +17.72% | +26.43% | +0.05B |
| 2025-09-30 | $409M | 17 | +15.79% | +8.12% | +7.66% | +0.08B |
| 2025-06-30 | $286M | 12 | +13.19% | +10.78% | +2.41% | +0.04B |
| 2025-03-31 | $220M | 9 | -3.74% | -4.27% | +0.52% | +0.04B |
| 2024-12-31 | $188M | 10 | — | — | — | — |