Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.12%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.06%
baseline attrition
Rally response
-1.88%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SMIDSmith-Midland Corporatio | $60M | 40.0% | +4.7% | 4.5 yr |
| CSLCarlisle Companies Incor | $10M | 6.4% | -0.9% | 5.8 yr |
| DOVDover Corporation | $4M | 2.9% | +20.0% | 7.3 yr |
| VOOVanguard S&P 500 ETF | $3M | 1.7% | — | 7.5 yr |
| FIXComfort Systems USA, Inc | $2M | 1.7% | +329.0% | 2.0 yr |
| SHWThe Sherwin-Williams Com | $2M | 1.6% | -7.4% | 4.3 yr |
| JPSTJPMorgan Ultra-Short Inc | $2M | 1.5% | — | 4.5 yr |
| VIGVanguard Dividend Apprec | $2M | 1.4% | — | 5.5 yr |
| CBChubb Limited | $2M | 1.3% | +9.3% | 5.8 yr |
| GEVGE Vernova Inc. | $2M | 1.2% | +186.8% | 2.0 yr |
| BILState Street SPDR Bloomb | $2M | 1.1% | — | 1.5 yr |
| NVDANVIDIA Corporation | $2M | 1.0% | +60.9% | 7.5 yr |
| SPTSState Street SPDR Portfo | $2M | 1.0% | — | 2.0 yr |
| PROFProfound Medical Corp. | $1M | 0.9% | +11.3% | 4.5 yr |
| COSTCostco Wholesale Corpora | $1M | 0.9% | +5.9% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Construction Materials40.4%-4.2pp$61M
Asset Management16.3%+0.6pp$24M
Construction6.7%+0.8pp$10M
Engineering & Construction3.7%+1.7pp$6M
Industrial - Machinery3.7%+0.5pp$6M
Asset Management - Income2.4%-0.4pp$4M
Communication Equipment2.1%+1.5pp$3M
Aerospace & Defense2.0%+1.3pp$3M
Insurance - Property & Casualty1.9%+0.1pp$3M
Chemicals - Specialty1.6%-0.5pp$2M
Country
US95.6%-0.1pp
CH1.4%-0.0pp
CA1.0%-0.9pp
Unknown0.7%+0.5pp
IL0.5%
MX0.3%+0.1pp
IE0.2%-0.1pp
GB0.2%+0.0pp
Top 5: 52.7% · Top 10: 59.7% · Top 25: 72.1%
Top buys this quarter · 15
| TJX The TJX Companies, Inc. | +$0M |
| SNDK Sandisk Corporationnew | +$0M |
| SMID Smith-Midland Corporation | +$60M |
| VSAT Viasat, Inc. | +$0M |
| YSS York Space Systems, Inc.new | +$0M |
| RKT Rocket Companies, Inc.new | +$0M |
| FLY Firefly Aerospace Inc.new | +$0M |
| RMCF Rocky Mountain Chocolate Factonew | +$0M |
| USLM United States Lime & Minerals,new | +$0M |
| AAOI Applied Optoelectronics, Inc. | +$0M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$1M |
| FIX Comfort Systems USA, Inc. | −$2M |
| COF Capital One Financial Corporatexit | −$1M |
| VRT Vertiv Holdings Coexit | −$1M |
| CLS Celestica Inc.exit | −$1M |
| BW Babcock & Wilcox Enterprises, | −$1M |
| TSEM Tower Semiconductor Ltd.exit | −$1M |
| NX Quanex Building Products Corpoexit | −$0M |
| GLDD Great Lakes Dredge & Dock Corpexit | −$0M |
| ESOA Energy Services of America Cor | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $150M | 141 | +19.21% | +17.59% | +1.62% | -0.01B |
| 2025-12-31 | $167M | 157 | -0.86% | +17.72% | -18.57% | +0.00B |
| 2025-09-30 | $162M | 146 | +13.36% | +17.52% | -4.16% | -0.05B |
| 2025-06-30 | $192M | 197 | +19.11% | +14.94% | +4.17% | +0.05B |
| 2025-03-31 | $127M | 124 | -17.03% | +8.30% | -25.34% | +0.00B |
| 2024-12-31 | $155M | 131 | +23.73% | +24.89% | -1.16% | -0.00B |
| 2024-09-30 | $135M | 126 | +57.48% | +36.04% | +21.45% | +0.00B |
| 2024-06-30 | $115M | 114 | +26.23% | +24.49% | +1.74% | +0.00B |
| 2024-03-31 | $148M | 119 | +92.83% | +29.62% | +63.20% | +0.01B |
| 2023-12-31 | $118M | 106 | +67.27% | +26.18% | +41.09% | -0.00B |
| 2023-09-30 | $81M | 114 | -9.34% | +21.57% | -30.91% | -0.00B |
| 2023-06-30 | $88M | 121 | +7.74% | +19.42% | -11.69% | -0.00B |
| 2023-03-31 | $77M | 103 | -38.51% | -7.82% | -30.69% | +0.00B |
| 2022-12-31 | $70M | 100 | -43.03% | -18.17% | -24.86% | +0.01B |
| 2022-09-30 | $74M | 88 | +22.28% | -15.51% | +37.79% | -0.04B |
| 2022-06-30 | $106M | 148 | +20.51% | -4.33% | +24.84% | +0.05B |