Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.98%
trims when stocks drop
when a holding falls −10%+
Middle response
-12.62%
baseline attrition
Rally response
-28.50%
trims into rallies
when a holding rises +10%+
Top positions · 7
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BZKanzhun Limited | $32M | 59.0% | -29.6% | 1.3 yr |
| IBTAIbotta, Inc. | $11M | 20.6% | -29.0% | 1.3 yr |
| YMMFull Truck Alliance Co. | $7M | 12.6% | -35.0% | 0.5 yr |
| QSGQuantaSing Group Ltd | $3M | 5.1% | — | 1.3 yr |
| XCHXCHG Limited American De | $1M | 1.3% | -7.5% | 0.3 yr |
| BIGCBigCommerce Holdings, In | $0M | 0.7% | — | 1.3 yr |
| BZAIBlaize Holdings, Inc. | $0M | 0.6% | -9.9% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Staffing & Employment Services59.0%+5.3pp$32M
Software - Application33.9%-2.7pp$18M
Education & Training Services5.1%-4.0pp$3M
Industrial - Machinery1.3%$1M
Semiconductors0.6%+0.2pp$0M
Country
CN76.7%+10.4pp
US21.9%-11.7pp
KY1.3%
Top 5: 98.7% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| XCH XCHG Limited American Depositanew | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $53M | 7 | -27.65% | +17.59% | -45.25% | -0.00B |
| 2025-12-31 | $73M | 11 | -13.25% | +2.66% | -15.91% | +0.01B |
| 2025-09-30 | $78M | 7 | +16.86% | +8.12% | +8.74% | -0.00B |
| 2025-06-30 | $69M | 8 | -6.90% | +10.78% | -17.68% | -0.01B |
| 2025-03-31 | $84M | 8 | — | — | — | — |