Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.74%
trims when stocks drop
when a holding falls −10%+
Middle response
-63.90%
baseline attrition
Rally response
+29.52%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| APLDApplied Digital Corporat | $132M | 66.3% | — | 0.3 yr |
| RILYBRC Group Holdings, Inc. | $24M | 11.8% | — | 0.5 yr |
| GOOGAlphabet Inc. | $6M | 2.8% | — | 0.3 yr |
| — | $4M | 1.8% | — | 0.5 yr |
| MSFTMicrosoft Corporation | $3M | 1.6% | — | 0.5 yr |
| GOOGLAlphabet Inc. | $3M | 1.5% | — | 0.3 yr |
| EKSOEkso Bionics Holdings, I | $3M | 1.4% | — | 0.5 yr |
| GSMFerroglobe PLC | $2M | 0.9% | — | 0.5 yr |
| DRVNDriven Brands Holdings I | $2M | 0.9% | — | 0.5 yr |
| MGNIMagnite, Inc. | $2M | 0.9% | — | 0.5 yr |
| KBDCKayne Anderson BDC, Inc. | $2M | 0.8% | — | 0.3 yr |
| AMNAMN Healthcare Services, | $2M | 0.8% | — | 0.5 yr |
| SMCISuper Micro Computer, In | $1M | 0.7% | — | 0.3 yr |
| SPYState Street SPDR S&P 50 | $1M | 0.7% | — | 0.5 yr |
| GELGenesis Energy, L.P. | $1M | 0.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Information Technology Services66.3%$132M
Financial - Conglomerates11.8%$24M
Internet Content & Information4.3%$9M
Software - Infrastructure2.3%$5M
Unknown1.8%$4M
Asset Management1.5%$3M
Medical - Instruments & Supplies1.4%$3M
Auto - Dealerships1.2%$2M
Oil & Gas Midstream1.0%$2M
Industrial Materials0.9%$2M
Country
US95.5%
Unknown1.8%
GB0.9%
CA0.6%
AU0.6%
BM0.3%
LU0.1%
Top 5: 84.4% · Top 10: 90.1% · Top 25: 98.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| APLD Applied Digital Corporationnew | +$132M |
| RILY BRC Group Holdings, Inc. | +$22M |
| GOOG Alphabet Inc.new | +$6M |
| KBDC Kayne Anderson BDC, Inc.new | +$2M |
| MSFT Microsoft Corporation | +$2M |
| SMCI Super Micro Computer, Inc.new | +$1M |
| IREN IREN Limitednew | +$1M |
| EKSO Ekso Bionics Holdings, Inc. | +$1M |
| MGNI Magnite, Inc. | +$1M |
| DRVN Driven Brands Holdings Inc. | +$1M |
Top sells this quarter · 15
| NFLX Netflix, Inc.exit | −$49M |
| SPY State Street SPDR S&P 500 ETF | −$4M |
| CVNA Carvana Co. | −$3M |
| DAR Darling Ingredients Inc.exit | −$2M |
| TDW Tidewater Inc.exit | −$1M |
| META Meta Platforms, Inc.exit | −$1M |
| CDZI Cadiz Inc. | −$0M |
| PRGO Perrigo Company plcexit | −$0M |
| ROG Rogers Corporationexit | −$0M |
| GSM Ferroglobe PLC | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $200M | 38 | -2.50% | -4.37% | +1.87% | +0.10B |
| 2025-12-31 | $99M | 36 | — | — | — | — |