Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.36%
trims when stocks drop
when a holding falls −10%+
Middle response
+2.54%
steady accumulation
Rally response
+0.08%
adds into rallies
when a holding rises +10%+
Top positions · 8
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UBSUBS Group AG | $25M | 23.7% | +31.6% | 1.5 yr |
| RYAAYRyanair Holdings plc | $23M | 21.8% | — | 1.5 yr |
| TOTB.DETotalEnergies SE | $21M | 19.8% | +41.2% | 0.3 yr |
| LOGILogitech International S | $14M | 13.5% | +9.5% | 0.8 yr |
| TSMTaiwan Semiconductor Man | $9M | 8.8% | +105.6% | 1.5 yr |
| ITUBItaú Unibanco Holding S | $5M | 4.5% | +64.3% | 1.5 yr |
| IBNICICI Bank Limited | $4M | 4.0% | -17.3% | 1.5 yr |
| INFYInfosys Limited | $4M | 3.9% | -23.8% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified23.7%+5.1pp$25M
Airlines, Airports & Air Services21.8%+3.1pp$23M
Oil & Gas Integrated19.8%$21M
Computer Hardware13.5%$14M
Semiconductors8.8%+5.0pp$9M
Banks - Regional8.5%-14.5pp$9M
Information Technology Services3.9%-12.9pp$4M
Country
CH37.2%+18.6pp
IE21.8%+3.1pp
FR19.8%
TW8.8%+5.0pp
IN7.9%-14.3pp
BR4.5%+0.5pp
Top 5: 87.6% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $106M | 8 | +24.87% | +17.59% | +7.28% | -0.02B |
| 2025-12-31 | $136M | 10 | +32.00% | +17.72% | +14.28% | -0.01B |
| 2025-09-30 | $140M | 11 | +13.77% | +8.12% | +5.65% | -0.01B |
| 2025-06-30 | $127M | 10 | +10.56% | +10.78% | -0.21% | +0.02B |
| 2025-03-31 | $95M | 10 | -1.42% | -4.27% | +2.84% | -0.01B |
| 2024-12-31 | $106M | 10 | — | — | — | — |