Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.61%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.30%
baseline attrition
Rally response
-16.53%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UTHRUnited Therapeutics Corp | $30M | 4.5% | +92.4% | 0.5 yr |
| AVGOBroadcom Inc. | $28M | 4.2% | +86.0% | 3.0 yr |
| SNDKSandisk Corporation | $27M | 4.1% | +1234.5% | 0.8 yr |
| AMZNAmazon.com, Inc. | $22M | 3.4% | +9.5% | 7.3 yr |
| ANETArista Networks, Inc. | $21M | 3.2% | +58.5% | 1.0 yr |
| SMTCSemtech Corporation | $20M | 3.0% | +123.5% | 3.3 yr |
| MODModine Manufacturing Com | $20M | 3.0% | +182.4% | 1.5 yr |
| SEZLSezzle Inc. | $19M | 2.9% | +81.4% | 0.5 yr |
| TEVATeva Pharmaceutical Indu | $17M | 2.5% | +96.0% | 2.8 yr |
| METAMeta Platforms, Inc. | $16M | 2.4% | -0.4% | 2.5 yr |
| RUNSunrun Inc. | $15M | 2.3% | +131.4% | 8.8 yr |
| NVDANVIDIA Corporation | $15M | 2.3% | +60.9% | 4.3 yr |
| WULFTeraWulf Inc. | $15M | 2.3% | +428.6% | 2.0 yr |
| BTSGBrightSpring Health Serv | $15M | 2.3% | +135.5% | 1.0 yr |
| SHLSShoals Technologies Grou | $15M | 2.3% | +98.2% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.0%+2.9pp$105M
Biotechnology6.0%+1.3pp$39M
Solar5.4%+2.7pp$35M
Specialty Retail5.3%+0.2pp$35M
Hardware, Equipment & Parts4.4%-4.8pp$29M
Financial - Capital Markets4.3%+2.4pp$28M
Internet Content & Information3.8%+3.3pp$25M
Software - Application3.5%-3.6pp$23M
Software - Infrastructure3.3%-5.8pp$22M
Medical - Healthcare Information Services3.3%$21M
Country
US88.9%+11.8pp
CA5.9%-3.5pp
IL2.5%-0.2pp
BR1.5%
Unknown0.5%-1.4pp
GB0.4%-2.0pp
FR0.1%
TW0.1%
Top 5: 19.4% · Top 10: 33.3% · Top 25: 59.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| WULF | $8M | +0.03B | 428.6% |
| AVGO | $22M | +0.02B | 86.0% |
| RUN | $9M | +0.01B | 131.4% |
| AGI | $15M | +0.01B | 66.7% |
| TEVA | $8M | +0.01B | 96.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| MOD Modine Manufacturing Company | +$19M |
| META Meta Platforms, Inc. | +$15M |
| SHLS Shoals Technologies Group, Inc | +$15M |
| AMZN Amazon.com, Inc. | +$11M |
| ANET Arista Networks, Inc. | +$9M |
| EQIX Equinix, Inc.new | +$8M |
| SKE.TO Skeena Resources Limitednew | +$7M |
| ZM Zoom Communications, Inc.new | +$7M |
| VZ Verizon Communications Inc.new | +$6M |
| NOW ServiceNow, Inc. | +$6M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$52M |
| LLY Eli Lilly and Company | −$32M |
| ALB Albemarle Corporation | −$29M |
| FSLR First Solar, Inc.exit | −$23M |
| MU Micron Technology, Inc. | −$22M |
| AEIS Advanced Energy Industries, In | −$22M |
| ARGX argenx SEexit | −$18M |
| DIS The Walt Disney Company | −$17M |
| TER Teradyne, Inc. | −$16M |
| TEL TE Connectivity Ltd.exit | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $656M | 117 | +96.43% | +17.59% | +78.84% | -0.20B |
| 2025-12-31 | $785M | 112 | +60.64% | +17.72% | +42.93% | +0.07B |
| 2025-09-30 | $649M | 98 | +47.96% | +17.52% | +30.44% | -0.14B |
| 2025-06-30 | $612M | 108 | +19.15% | +14.94% | +4.21% | +0.07B |
| 2025-03-31 | $432M | 102 | -12.58% | +8.30% | -20.88% | -0.03B |
| 2024-12-31 | $516M | 101 | -4.11% | +24.89% | -29.00% | -0.02B |
| 2024-09-30 | $528M | 109 | +9.25% | +36.04% | -26.78% | -0.05B |
| 2024-06-30 | $553M | 108 | -10.31% | +24.49% | -34.80% | -0.09B |
| 2024-03-31 | $696M | 124 | +2.13% | +29.62% | -27.49% | +0.24B |
| 2023-12-31 | $465M | 100 | -2.30% | +26.18% | -28.48% | +0.04B |
| 2023-09-30 | $369M | 90 | -23.15% | +21.57% | -44.72% | -0.01B |
| 2023-06-30 | $443M | 100 | -7.84% | +19.42% | -27.27% | -0.04B |
| 2023-03-31 | $455M | 101 | -21.98% | -7.82% | -14.16% | +0.09B |
| 2022-12-31 | $395M | 89 | -8.47% | +7.56% | -16.03% | +0.06B |
| 2022-09-30 | $366M | 71 | +2.19% | -4.93% | +7.12% | -0.03B |
| 2022-06-30 | $388M | 85 | -10.66% | -16.11% | +5.45% | -0.03B |