Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.39%
baseline attrition
Rally response
-2.35%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $442M | 5.3% | +60.9% | 10.5 yr |
| NFLXNetflix, Inc. | $403M | 4.8% | +3.1% | 10.5 yr |
| NETCloudflare, Inc. | $367M | 4.4% | +83.1% | 6.8 yr |
| AMZNAmazon.com, Inc. | $365M | 4.4% | +9.5% | 10.5 yr |
| SHOPShopify Inc. | $256M | 3.1% | +24.2% | 10.5 yr |
| TSLATesla, Inc. | $230M | 2.8% | +43.4% | 10.5 yr |
| METAMeta Platforms, Inc. | $225M | 2.7% | -0.4% | 10.5 yr |
| ISRGIntuitive Surgical, Inc. | $207M | 2.5% | -6.9% | 9.5 yr |
| PWRQuanta Services, Inc. | $205M | 2.5% | +116.2% | 5.3 yr |
| NTRANatera, Inc. | $151M | 1.8% | +41.4% | 7.8 yr |
| GOOGLAlphabet Inc. | $138M | 1.7% | — | 10.5 yr |
| SATSEchoStar Corporation | $137M | 1.6% | +357.7% | 2.3 yr |
| MUMicron Technology, Inc. | $130M | 1.6% | +289.6% | 4.5 yr |
| ERJEmbraer S.A. | $126M | 1.5% | — | 2.0 yr |
| GOOGAlphabet Inc. | $120M | 1.4% | +84.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.9%+5.9pp$992M
Internet Content & Information8.4%+1.8pp$697M
Entertainment7.5%-0.6pp$625M
Software - Infrastructure7.2%-2.2pp$596M
Software - Application6.6%-4.5pp$551M
Specialty Retail5.7%-1.8pp$478M
Aerospace & Defense4.5%+1.3pp$373M
Biotechnology4.0%+0.2pp$333M
Auto - Manufacturers3.4%-0.3pp$284M
Medical - Devices3.1%-3.3pp$258M
Country
US82.6%-4.2pp
CA5.0%+2.6pp
Unknown3.1%+0.7pp
IL2.2%+1.4pp
BR1.6%+0.0pp
RU1.2%
UY1.2%-0.3pp
GB0.7%+0.0pp
Top 5: 22.0% · Top 10: 34.2% · Top 25: 54.8%
Top buys this quarter · 15
| ENPH Enphase Energy, Inc. | +$80M |
| MDA MDA Space Ltdnew | +$49M |
| HOOD Robinhood Markets, Inc. | +$47M |
| LASR nLIGHT, Inc. | +$40M |
| LOB Live Oak Bancshares, Inc. | +$39M |
| SATS EchoStar Corporation | +$29M |
| GLW Corning Incorporated | +$15M |
| LGN Legence Corp. Class A Common snew | +$11M |
| AAPL Apple Inc. | +$11M |
| BE Bloom Energy Corporation | +$10M |
Top sells this quarter · 15
| BSX Boston Scientific Corporation | −$67M |
| TSLA Tesla, Inc. | −$40M |
| MU Micron Technology, Inc. | −$37M |
| CRWD CrowdStrike Holdings, Inc.exit | −$32M |
| MSFT Microsoft Corporation | −$31M |
| TKO TKO Group Holdings, Inc. | −$26M |
| APPF AppFolio, Inc. | −$24M |
| FND Floor & Decor Holdings, Inc. | −$24M |
| MDB MongoDB, Inc. | −$23M |
| IBN ICICI Bank Limited | −$22M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $8.34B | 252 | +17.33% | +17.59% | -0.26% | -0.30B |
| 2025-12-31 | $9.47B | 250 | +14.63% | +17.72% | -3.09% | -0.33B |
| 2025-09-30 | $9.81B | 249 | +27.29% | +17.52% | +9.77% | -0.12B |
| 2025-06-30 | $9.42B | 238 | +30.04% | +14.94% | +15.10% | +0.06B |
| 2025-03-31 | $7.66B | 233 | +5.06% | +8.30% | -3.25% | -0.60B |
| 2024-12-31 | $9.27B | 254 | +25.94% | +24.89% | +1.05% | +0.00B |
| 2024-09-30 | $8.36B | 250 | +31.32% | +36.04% | -4.71% | -0.24B |
| 2024-06-30 | $7.98B | 251 | +17.60% | +24.49% | -6.90% | +0.08B |
| 2024-03-31 | $8.00B | 257 | +28.81% | +29.62% | -0.81% | +0.23B |
| 2023-12-31 | $7.29B | 250 | +37.86% | +26.18% | +11.68% | -0.32B |
| 2023-09-30 | $6.57B | 258 | +10.26% | +21.57% | -11.30% | -0.47B |
| 2023-06-30 | $7.31B | 331 | +19.27% | +19.42% | -0.15% | +0.78B |
| 2023-03-31 | $6.04B | 245 | -28.12% | -7.82% | -20.30% | -0.09B |
| 2022-12-31 | $5.36B | 244 | -7.50% | +7.56% | -15.06% | +0.06B |
| 2022-09-30 | $5.73B | 246 | +4.35% | -4.93% | +9.28% | -0.12B |
| 2022-06-30 | $5.61B | 248 | -34.82% | -16.11% | -18.71% | -1.44B |