Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.98%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.01%
steady accumulation
Rally response
-34.41%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JDJD.com, Inc. | $53M | 10.6% | -28.5% | 1.0 yr |
| QQQInvesco QQQ Trust, Serie | $44M | 8.7% | — | 0.8 yr |
| KWEBKraneShares CSI China In | $33M | 6.5% | — | 0.3 yr |
| MELIMercadoLibre, Inc. | $31M | 6.3% | -11.4% | 0.8 yr |
| PYPLPayPal Holdings, Inc. | $10M | 2.0% | -30.3% | 0.5 yr |
| AMZNAmazon.com, Inc. | $10M | 1.9% | +9.5% | 0.5 yr |
| IBITiShares Bitcoin Trust ET | $10M | 1.9% | — | 1.3 yr |
| EWZiShares MSCI Brazil ETF | $9M | 1.8% | — | 1.3 yr |
| MOSThe Mosaic Company | $8M | 1.7% | -2.7% | 0.5 yr |
| NLRVanEck Uranium and Nucle | $8M | 1.6% | — | 0.3 yr |
| QUREuniQure N.V. | $7M | 1.4% | +54.2% | 1.3 yr |
| MPMP Materials Corp. | $7M | 1.4% | +97.7% | 0.5 yr |
| BABAAlibaba Group Holding Li | $6M | 1.3% | -3.5% | 1.3 yr |
| METAMeta Platforms, Inc. | $6M | 1.3% | -0.4% | 0.5 yr |
| SMFGSumitomo Mitsui Financia | $6M | 1.3% | +32.1% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management26.3%-14.0pp$132M
Specialty Retail21.3%+20.9pp$107M
Software - Infrastructure3.5%+1.1pp$18M
Agricultural Inputs2.7%$14M
Financial - Credit Services2.7%+2.3pp$14M
Banks - Diversified2.4%+1.9pp$12M
Internet Content & Information2.2%-0.2pp$11M
Unknown2.2%-0.1pp$11M
Industrial Materials1.9%+1.4pp$10M
Software - Application1.8%-0.2pp$9M
Country
US67.5%-15.4pp
CN12.0%+10.9pp
UY6.6%
JP3.2%
CA2.6%+1.7pp
Unknown2.0%-0.4pp
NL1.4%+0.9pp
IL0.9%-0.3pp
Top 5: 34.1% · Top 10: 43.0% · Top 25: 59.6%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| BABA | $0M | -0.00B | -3.5% |
Top buys this quarter · 15
| JD JD.com, Inc. | +$48M |
| MELI MercadoLibre, Inc. | +$29M |
| PYPL PayPal Holdings, Inc. | +$9M |
| MOS The Mosaic Company | +$7M |
| QURE uniQure N.V. | +$6M |
| MOH Molina Healthcare, Inc. | +$6M |
| HRL Hormel Foods Corporation | +$5M |
| MSFT Microsoft Corporationnew | +$5M |
| META Meta Platforms, Inc. | +$4M |
| TTWO Take-Two Interactive Software,new | +$4M |
Top sells this quarter · 15
| BABA Alibaba Group Holding Limited | −$38M |
| ORCL Oracle Corporationexit | −$18M |
| MARA Marathon Digital Holdings, Inc | −$13M |
| MSTR Strategy Incexit | −$13M |
| COIN Coinbase Global, Inc. | −$12M |
| TPL Texas Pacific Land Corporationexit | −$8M |
| NE Noble Corporation Plcexit | −$6M |
| UPS United Parcel Service, Inc.exit | −$6M |
| PWR Quanta Services, Inc. | −$5M |
| LULU Lululemon Athletica Inc.exit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $501M | 230 | +12.47% | +17.59% | -5.12% | +0.02B |
| 2025-12-31 | $507M | 290 | +11.09% | +17.72% | -6.63% | +0.24B |
| 2025-09-30 | $279M | 157 | +9.39% | +8.12% | +1.27% | +0.13B |
| 2025-06-30 | $133M | 111 | +12.72% | +10.78% | +1.94% | +0.04B |
| 2025-03-31 | $83M | 111 | -5.48% | -4.27% | -1.21% | +0.00B |
| 2024-12-31 | $86M | 46 | — | — | — | — |