Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.71%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.37%
baseline attrition
Rally response
-4.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $96M | 5.0% | — | 0.3 yr |
| SPYState Street SPDR S&P 50 | $51M | 2.7% | +17.6% | 1.5 yr |
| — | $43M | 2.3% | — | 0.3 yr |
| RSPInvesco S&P 500 Equal We | $37M | 2.0% | — | 1.5 yr |
| — | $34M | 1.8% | — | 0.3 yr |
| — | $33M | 1.8% | — | 0.3 yr |
| OMV.DEOMV AG | $31M | 1.6% | +46.6% | 1.5 yr |
| — | $25M | 1.3% | — | 0.3 yr |
| QQQInvesco QQQ Trust, Serie | $23M | 1.2% | — | 1.5 yr |
| EBO.DEErste Group Bank AG | $23M | 1.2% | +51.1% | 1.5 yr |
| NVDANVIDIA Corporation | $21M | 1.1% | +60.9% | 1.5 yr |
| AMZNAmazon.com, Inc. | $21M | 1.1% | +9.5% | 1.5 yr |
| — | $20M | 1.1% | — | 0.3 yr |
| MSFTMicrosoft Corporation | $20M | 1.1% | -0.6% | 1.5 yr |
| — | $20M | 1.1% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown30.7%+23.0pp$586M
Asset Management9.3%-4.3pp$177M
Semiconductors5.1%+0.4pp$97M
Oil & Gas Integrated3.7%-0.5pp$71M
Drug Manufacturers - General3.0%-1.5pp$57M
Banks - Regional2.9%-1.5pp$56M
Internet Content & Information2.4%-1.0pp$47M
Software - Infrastructure2.3%-1.1pp$45M
Banks - Diversified2.0%-1.2pp$39M
Telecommunications Services2.0%+0.5pp$38M
Country
US45.1%-18.2pp
Unknown30.7%+23.0pp
DE5.3%+1.8pp
AT3.2%-0.9pp
KZ2.4%+0.0pp
KR1.5%+0.2pp
CA1.4%-0.0pp
ES1.3%-0.2pp
Top 5: 13.7% · Top 10: 20.8% · Top 25: 35.6%
Top buys this quarter · 15
| DTE.DE Deutsche Telekom AGnew | +$14M |
| ASML.AS ASML Holding N.V.new | +$11M |
| ALV.DE Allianz SEnew | +$9M |
| ADS.DE adidas AGnew | +$8M |
| B Barrick Mining Corporation | +$6M |
| BMW.DE Bayerische Motoren Werke AGnew | +$5M |
| DELL Dell Technologies Inc. | +$5M |
| MSFT Microsoft Corporation | +$20M |
| HY9H.F SK hynix Inc. | +$4M |
| AVGO Broadcom Inc. | +$4M |
Top sells this quarter · 15
| SSL Sasol Limited | −$5M |
| SMSN.IL Samsung Electronics Co., Ltd. | −$14M |
| KAP.L JSC National Atomic Company Ka | −$14M |
| VTRS Viatris Inc. | −$3M |
| MSCI MSCI Inc. | −$2M |
| NLB.IL Nova Ljubljanska Banka d.d.exit | −$2M |
| RY Royal Bank of Canada | −$2M |
| HUG.WA Huuuge, Inc. | −$2M |
| HPE Hewlett Packard Enterprise Com | −$2M |
| CSCO Cisco Systems, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.91B | 449 | +22.45% | +17.59% | +4.86% | +0.50B |
| 2025-12-31 | $1.42B | 393 | +25.62% | +17.72% | +7.91% | +0.05B |
| 2025-09-30 | $1.31B | 378 | +8.66% | +8.12% | +0.54% | -0.01B |
| 2025-06-30 | $1.22B | 380 | +9.12% | +10.78% | -1.65% | +0.05B |
| 2025-03-31 | $1.07B | 380 | +2.02% | -4.27% | +6.28% | +0.08B |
| 2024-12-31 | $970M | 350 | — | — | — | — |