Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-24.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-12.44%
baseline attrition
Rally response
-20.93%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IRENIREN Limited | $224M | 12.5% | +462.9% | 4.0 yr |
| AMZNAmazon.com, Inc. | $162M | 9.0% | +9.5% | 6.0 yr |
| GOOGLAlphabet Inc. | $136M | 7.6% | — | 2.5 yr |
| TSMTaiwan Semiconductor Man | $113M | 6.3% | +105.6% | 4.8 yr |
| MUMicron Technology, Inc. | $104M | 5.8% | +289.6% | 5.3 yr |
| AMDAdvanced Micro Devices, | $93M | 5.2% | +98.0% | 4.5 yr |
| HNGEHinge Health, Inc. | $89M | 5.0% | — | 1.0 yr |
| HUT.TOHut 8 Mining Corp. | $89M | 4.9% | +290.2% | 2.5 yr |
| NVDANVIDIA Corporation | $86M | 4.8% | +60.9% | 5.8 yr |
| FIGRFigure Technology Soluti | $85M | 4.7% | — | 0.8 yr |
| OSCROscar Health, Inc. | $73M | 4.0% | -12.5% | 2.8 yr |
| INTCIntel Corporation | $66M | 3.7% | +94.3% | 1.0 yr |
| FCXFreeport-McMoRan Inc. | $55M | 3.1% | +57.4% | 0.3 yr |
| LMNDLemonade, Inc. | $37M | 2.0% | +99.4% | 2.0 yr |
| WULFTeraWulf Inc. | $35M | 2.0% | +428.6% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Financial - Capital Markets27.6%+2.7pp$495M
Semiconductors27.3%+21.0pp$490M
Specialty Retail9.1%-1.8pp$163M
Internet Content & Information7.8%+3.9pp$141M
Medical - Healthcare Information Services5.0%$89M
Medical - Healthcare Plans4.0%-3.1pp$73M
Copper3.1%$55M
Communication Equipment2.3%$42M
Insurance - Property & Casualty2.0%+0.7pp$37M
Electrical Equipment & Parts1.9%$34M
Country
US68.7%+4.6pp
AU12.5%+0.8pp
TW6.3%+5.5pp
CA5.8%+1.8pp
FI1.5%
IL1.5%
GB1.1%+0.7pp
CL0.9%
Top 5: 41.2% · Top 10: 65.8% · Top 25: 93.0%
Top buys this quarter · 15
| AMZN Amazon.com, Inc. | +$136M |
| AMD Advanced Micro Devices, Inc. | +$77M |
| FIGR Figure Technology Solutions, I | +$76M |
| FCX Freeport-McMoRan Inc.new | +$55M |
| INTC Intel Corporation | +$38M |
| BE Bloom Energy Corporationnew | +$34M |
| RUN Sunrun Inc. | +$31M |
| NOK Nokia Oyjnew | +$27M |
| TSEM Tower Semiconductor Ltd.new | +$27M |
| NVDA NVIDIA Corporation | +$19M |
Top sells this quarter · 15
| LMND Lemonade, Inc. | −$78M |
| DDOG Datadog, Inc.exit | −$78M |
| RDDT Reddit, Inc. | −$76M |
| KSPI Joint Stock Company Kaspi.kz | −$63M |
| HOOD Robinhood Markets, Inc. | −$52M |
| META Meta Platforms, Inc. | −$50M |
| RBRK Rubrik, Inc.exit | −$45M |
| HNGE Hinge Health, Inc. | −$39M |
| MU Micron Technology, Inc. | −$35M |
| MSFT Microsoft Corporation | −$33M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.79B | 76 | +73.43% | +17.59% | +55.84% | -0.29B |
| 2025-12-31 | $2.29B | 87 | +66.81% | +17.72% | +49.10% | +0.24B |
| 2025-09-30 | $2.19B | 90 | +111.12% | +17.52% | +93.60% | +0.13B |
| 2025-06-30 | $1.53B | 80 | +65.40% | +14.94% | +50.46% | +0.27B |
| 2025-03-31 | $830M | 85 | +33.10% | +8.30% | +24.80% | -0.17B |
| 2024-12-31 | $1.14B | 100 | +78.66% | +24.89% | +53.78% | -0.09B |
| 2024-09-30 | $1.04B | 96 | +105.88% | +36.04% | +69.84% | -0.12B |
| 2024-06-30 | $1.10B | 90 | +78.23% | +24.49% | +53.74% | -0.29B |
| 2024-03-31 | $1.13B | 96 | +77.80% | +29.62% | +48.18% | +0.05B |
| 2023-12-31 | $924M | 88 | +81.82% | +26.18% | +55.64% | -0.10B |
| 2023-09-30 | $747M | 114 | +23.30% | +21.57% | +1.73% | -0.03B |
| 2023-06-30 | $858M | 124 | +21.99% | +19.42% | +2.57% | +0.07B |
| 2023-03-31 | $641M | 127 | -37.03% | -7.82% | -29.21% | +0.07B |
| 2022-12-31 | $481M | 120 | -7.45% | +7.56% | -15.01% | -0.00B |
| 2022-09-30 | $520M | 120 | -10.01% | -4.93% | -5.08% | -0.09B |
| 2022-06-30 | $681M | 99 | -36.88% | -16.11% | -20.77% | +0.07B |