Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.13%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.77%
baseline attrition
Rally response
-2.49%
trims into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CPNGCoupang, Inc. | $20M | 16.2% | -13.9% | 1.5 yr |
| MSFTMicrosoft Corporation | $19M | 15.1% | -0.6% | 1.5 yr |
| GLBEGlobal-e Online Ltd. | $18M | 14.7% | -13.5% | 1.5 yr |
| — | $14M | 11.0% | — | 1.5 yr |
| GSHDGoosehead Insurance, Inc | $11M | 9.2% | -63.9% | 1.5 yr |
| GOGrocery Outlet Holding C | $11M | 9.1% | -49.6% | 1.3 yr |
| SHENShenandoah Telecommunica | $11M | 9.0% | +23.9% | 0.5 yr |
| BLNDBlend Labs, Inc. | $11M | 8.6% | -49.3% | 1.5 yr |
| — | $9M | 7.2% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail30.8%+22.4pp$39M
Unknown18.2%-0.1pp$23M
Software - Infrastructure15.1%+0.9pp$19M
Insurance - Diversified9.2%-11.8pp$11M
Grocery Stores9.1%+4.4pp$11M
Telecommunications Services9.0%-2.9pp$11M
Software - Application8.6%+0.5pp$11M
Country
US50.9%-22.3pp
Unknown18.2%-0.1pp
KR16.2%+9.0pp
IL14.7%+13.4pp
Top 5: 66.1% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 4
| — | +$0M |
| SHEN Shenandoah Telecommunications | +$5M |
| BLND Blend Labs, Inc. | +$11M |
| CPNG Coupang, Inc. | +$20M |
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $125M | 9 | -25.62% | +17.59% | -43.21% | +0.00B |
| 2025-12-31 | $166M | 9 | +1.82% | +17.72% | -15.90% | -0.03B |
| 2025-09-30 | $210M | 10 | +0.80% | +8.12% | -7.32% | +0.00B |
| 2025-06-30 | $207M | 9 | +9.72% | +10.78% | -1.06% | -0.00B |
| 2025-03-31 | $191M | 9 | +0.71% | -4.27% | +4.98% | -0.03B |
| 2024-12-31 | $216M | 9 | — | — | — | — |