Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.74%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.87%
baseline attrition
Rally response
-7.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $40M | 8.7% | +60.9% | 6.5 yr |
| FOLDAmicus Therapeutics, Inc | $20M | 4.4% | +77.2% | 0.3 yr |
| SEESealed Air Corporation | $19M | 4.0% | +48.7% | 0.5 yr |
| ALAir Lease Corporation | $15M | 3.2% | +36.3% | 0.5 yr |
| TPHTri Pointe Homes, Inc. | $14M | 3.1% | +46.4% | 0.3 yr |
| UBSUBS Group AG | $14M | 3.1% | +31.6% | 3.3 yr |
| ACLXArcellx, Inc. | $14M | 3.1% | — | 0.3 yr |
| BAThe Boeing Company | $14M | 3.0% | +16.7% | 8.0 yr |
| BLFYBlue Foundry Bancorp | $13M | 2.9% | +43.9% | 0.5 yr |
| AAPLApple Inc. | $13M | 2.9% | +14.7% | 10.5 yr |
| CCitigroup Inc. | $13M | 2.9% | +63.9% | 6.8 yr |
| MAMastercard Incorporated | $13M | 2.8% | -8.5% | 10.5 yr |
| 0YY7.LDigitalBridge Group, Inc | $13M | 2.8% | — | 0.5 yr |
| GOOGAlphabet Inc. | $11M | 2.5% | +84.3% | 10.5 yr |
| AMZNAmazon.com, Inc. | $11M | 2.4% | +9.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors11.1%+2.5pp$51M
Biotechnology9.9%+7.8pp$46M
Banks - Regional7.1%-4.0pp$33M
Banks - Diversified5.9%+1.2pp$27M
Internet Content & Information5.2%+0.2pp$24M
Medical - Care Facilities5.0%$23M
Aerospace & Defense4.6%-3.4pp$21M
Packaging & Containers4.0%$19M
Residential Construction3.7%+2.7pp$17M
Rental & Leasing Services3.2%$15M
Country
US93.6%+1.9pp
CH3.1%+0.3pp
CA0.9%+0.2pp
LU0.7%-0.4pp
TW0.7%+0.3pp
CN0.6%
PA0.3%
KY0.1%
Top 5: 23.5% · Top 10: 38.5% · Top 25: 70.8%
Top buys this quarter · 15
| FOLD Amicus Therapeutics, Inc.new | +$20M |
| SEE Sealed Air Corporation | +$15M |
| TPH Tri Pointe Homes, Inc.new | +$14M |
| BLFY Blue Foundry Bancorp | +$13M |
| TALK Talkspace, Inc.new | +$11M |
| SEM Select Medical Holdings Corpornew | +$9M |
| AL Air Lease Corporation | +$8M |
| PKST Peakstone Realty Trustnew | +$8M |
| PEN Penumbra, Inc.new | +$7M |
| APLS Apellis Pharmaceuticals, Inc.new | +$7M |
Top sells this quarter · 15
| GS The Goldman Sachs Group, Inc. | −$36M |
| EXAS Exact Sciences Corporationexit | −$9M |
| BNTX BioNTech SEexit | −$4M |
| TDG TransDigm Group Incorporatedexit | −$4M |
| NOW ServiceNow, Inc.exit | −$3M |
| CFLT Confluent, Inc.exit | −$2M |
| COST Costco Wholesale Corporationexit | −$2M |
| DIS The Walt Disney Companyexit | −$2M |
| RACE Ferrari N.V.exit | −$1M |
| NXPI NXP Semiconductors N.V. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $462M | 78 | +39.84% | +17.59% | +22.25% | +0.05B |
| 2025-12-31 | $394M | 77 | +27.94% | +17.72% | +10.22% | +0.00B |
| 2025-09-30 | $381M | 75 | +28.69% | +17.52% | +11.17% | -0.06B |
| 2025-06-30 | $400M | 76 | +18.26% | +14.94% | +3.32% | -0.09B |
| 2025-03-31 | $415M | 81 | +3.42% | +8.30% | -4.89% | +0.04B |
| 2024-12-31 | $395M | 73 | +15.51% | +24.89% | -9.38% | +0.03B |
| 2024-09-30 | $353M | 63 | +27.37% | +36.04% | -8.67% | -0.01B |
| 2024-06-30 | $359M | 64 | +19.38% | +24.49% | -5.11% | +0.02B |
| 2024-03-31 | $333M | 62 | +26.96% | +29.62% | -2.66% | +0.03B |
| 2023-12-31 | $287M | 52 | +33.60% | +26.18% | +7.43% | -0.03B |
| 2023-09-30 | $274M | 68 | +17.33% | +21.57% | -4.24% | +0.01B |
| 2023-06-30 | $273M | 70 | +17.97% | +19.42% | -1.45% | -0.04B |
| 2023-03-31 | $283M | 73 | -10.98% | -7.82% | -3.16% | -0.03B |
| 2022-12-31 | $282M | 68 | +0.62% | +7.56% | -6.94% | -0.15B |
| 2022-09-30 | $434M | 69 | -3.77% | -4.93% | +1.15% | -0.02B |
| 2022-06-30 | $474M | 75 | -17.45% | -16.11% | -1.34% | +0.03B |