Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.75%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.03%
baseline attrition
Rally response
-2.25%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $23M | 5.1% | +14.7% | 3.5 yr |
| WDCWestern Digital Corporat | $17M | 3.7% | +571.9% | 1.0 yr |
| STXSeagate Technology Holdi | $14M | 3.1% | +366.3% | 1.3 yr |
| MSFTMicrosoft Corporation | $11M | 2.5% | -0.6% | 3.5 yr |
| GOOGLAlphabet Inc. | $11M | 2.5% | — | 3.5 yr |
| NVDANVIDIA Corporation | $11M | 2.4% | +60.9% | 3.5 yr |
| HWMHowmet Aerospace Inc. | $10M | 2.3% | +78.1% | 2.0 yr |
| IVViShares Core S&P 500 ETF | $10M | 2.2% | — | 3.5 yr |
| KEYSKeysight Technologies, I | $10M | 2.2% | +88.5% | 0.3 yr |
| TERTeradyne, Inc. | $9M | 2.1% | +260.2% | 0.5 yr |
| JPMJPMorgan Chase & Co. | $9M | 2.1% | +21.8% | 3.5 yr |
| ALBAlbemarle Corporation | $9M | 2.1% | +153.7% | 0.5 yr |
| CIENCiena Corporation | $9M | 2.0% | +542.4% | 0.3 yr |
| LRCXLam Research Corporation | $8M | 1.9% | +196.1% | 0.3 yr |
| GLWCorning Incorporated | $8M | 1.9% | +201.5% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management17.2%-3.0pp$77M
Semiconductors10.2%+4.3pp$46M
Computer Hardware6.8%$30M
Hardware, Equipment & Parts5.9%+5.3pp$26M
Consumer Electronics5.1%-2.8pp$23M
Drug Manufacturers - General4.5%-0.7pp$20M
Communication Equipment4.0%+3.4pp$18M
Aerospace & Defense3.7%+0.0pp$17M
Internet Content & Information3.3%-1.2pp$15M
Banks - Diversified3.0%-0.5pp$13M
Country
US95.7%-2.9pp
SG3.1%
GB0.6%-0.1pp
Unknown0.3%-0.2pp
TW0.2%+0.0pp
IE0.1%+0.1pp
CA0.1%
CH0.1%-0.0pp
Top 5: 16.8% · Top 10: 28.1% · Top 25: 53.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NVDA | $14M | +0.01B | 60.9% |
| HWM | $7M | +0.01B | 78.1% |
| VICR | $2M | +0.00B | 244.2% |
| AAPL | $23M | +0.00B | 14.7% |
| CAT | $2M | +0.00B | 117.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MSFT | $16M | -0.00B | -0.6% |
Top buys this quarter · 15
| KEYS Keysight Technologies, Inc.new | +$10M |
| CIEN Ciena Corporationnew | +$9M |
| LRCX Lam Research Corporationnew | +$8M |
| CF CF Industries Holdings, Inc.new | +$7M |
| LITE Lumentum Holdings Inc.new | +$7M |
| MRNA Moderna, Inc.new | +$6M |
| TER Teradyne, Inc. | +$3M |
| BCHT Birchtech Corp.new | +$1M |
| PYPL PayPal Holdings, Inc.new | +$1M |
| GLW Corning Incorporated | +$1M |
Top sells this quarter · 15
| MU Micron Technology, Inc. | −$10M |
| PLTR Palantir Technologies Inc. | −$7M |
| AVGO Broadcom Inc. | −$6M |
| APH Amphenol Corporation | −$6M |
| WDC Western Digital Corporation | −$14M |
| IDXX IDEXX Laboratories, Inc.exit | −$5M |
| EXPE Expedia Group, Inc.exit | −$4M |
| GE GE Aerospace | −$4M |
| UAL United Airlines Holdings, Inc. | −$4M |
| AAPL Apple Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $446M | 257 | +52.90% | +17.59% | +35.31% | -0.01B |
| 2025-12-31 | $425M | 241 | +37.74% | +17.72% | +20.03% | -0.01B |
| 2025-09-30 | $405M | 244 | +32.61% | +17.52% | +15.09% | -0.01B |
| 2025-06-30 | $360M | 230 | +23.76% | +14.94% | +8.82% | +0.03B |
| 2025-03-31 | $292M | 222 | +11.95% | +8.30% | +3.64% | -0.00B |
| 2024-12-31 | $306M | 229 | +28.40% | +24.89% | +3.52% | -0.01B |
| 2024-09-30 | $308M | 231 | +37.69% | +36.04% | +1.65% | -0.01B |
| 2024-06-30 | $292M | 226 | +23.56% | +24.49% | -0.93% | +0.01B |
| 2024-03-31 | $273M | 231 | +27.81% | +29.62% | -1.81% | +0.01B |
| 2023-12-31 | $236M | 213 | +21.99% | +26.18% | -4.19% | +0.00B |
| 2023-09-30 | $208M | 199 | -3.73% | -3.22% | -0.51% | +0.01B |
| 2023-06-30 | $210M | 218 | +7.42% | +8.68% | -1.26% | +0.00B |
| 2023-03-31 | $192M | 223 | +5.69% | +7.46% | -1.77% | +0.01B |
| 2022-12-31 | $171M | 199 | — | — | — | — |