Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.89%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.24%
baseline attrition
Rally response
-3.68%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NXSTNexstar Media Group, Inc | $41M | 15.3% | +4.7% | 8.5 yr |
| CCitigroup Inc. | $36M | 13.2% | +63.9% | 10.5 yr |
| VOYGVoyager Technologies, In | $21M | 7.8% | — | 1.0 yr |
| ACIAlbertsons Companies, In | $13M | 5.0% | -20.1% | 3.3 yr |
| OWLBlue Owl Capital Inc. | $11M | 4.0% | -51.8% | 0.5 yr |
| EPDEnterprise Products Part | $10M | 3.6% | +18.7% | 7.5 yr |
| KMBKimberly-Clark Corporati | $10M | 3.6% | -29.2% | 0.5 yr |
| PAAPlains All American Pipe | $9M | 3.4% | +21.8% | 7.0 yr |
| MSDLMorgan Stanley Direct Le | $9M | 3.3% | -23.7% | 0.5 yr |
| ETEnergy Transfer LP | $9M | 3.2% | +12.1% | 7.5 yr |
| TALOTalos Energy Inc. | $8M | 2.8% | +62.1% | 3.3 yr |
| CMCSAComcast Corporation | $8M | 2.8% | — | 10.5 yr |
| UBERUber Technologies, Inc. | $6M | 2.4% | -1.3% | 1.5 yr |
| TYGTortoise Energy Infrastr | $5M | 2.0% | +28.4% | 6.0 yr |
| — | $5M | 1.9% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Entertainment15.4%-5.6pp$42M
Oil & Gas Midstream13.7%-1.2pp$37M
Banks - Diversified13.2%+3.4pp$36M
Asset Management12.6%+6.4pp$34M
Aerospace & Defense7.8%$21M
Software - Application5.4%+2.6pp$15M
Grocery Stores5.0%-2.6pp$13M
Household & Personal Products4.0%$11M
Financial - Conglomerates3.3%$9M
Telecommunications Services3.3%-1.4pp$9M
Country
US96.0%+3.5pp
Unknown2.1%-2.8pp
IE0.8%
BM0.6%+0.1pp
GB0.5%+0.0pp
Top 5: 45.2% · Top 10: 62.3% · Top 25: 86.4%
Top buys this quarter · 12
| OWL Blue Owl Capital Inc. | +$5M |
| CRM Salesforce, Inc.new | +$5M |
| PX P10, Inc.new | +$4M |
| KBDC Kayne Anderson BDC, Inc.new | +$3M |
| WDAY Workday, Inc.new | +$3M |
| ICLR ICON Public Limited Companynew | +$2M |
| KMB Kimberly-Clark Corporation | +$2M |
| MSDL Morgan Stanley Direct Lending | +$1M |
| NOW ServiceNow, Inc.new | +$1M |
| KRP Kimbell Royalty Partners, LPnew | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $270M | 71 | +5.87% | +17.59% | -11.73% | +0.01B |
| 2025-12-31 | $270M | 63 | +14.87% | +17.72% | -2.85% | +0.01B |
| 2025-09-30 | $254M | 58 | +20.28% | +17.52% | +2.76% | -0.02B |
| 2025-06-30 | $261M | 60 | +16.33% | +14.94% | +1.39% | +0.03B |
| 2025-03-31 | $228M | 60 | +10.34% | +8.30% | +2.03% | +0.00B |
| 2024-12-31 | $214M | 61 | +10.34% | +24.89% | -14.55% | -0.02B |
| 2024-09-30 | $221M | 64 | +13.63% | +36.04% | -22.40% | -0.01B |
| 2024-06-30 | $220M | 66 | +9.70% | +24.49% | -14.79% | -0.00B |
| 2024-03-31 | $233M | 67 | +13.51% | +29.62% | -16.11% | -0.02B |
| 2023-12-31 | $239M | 71 | +8.70% | +26.18% | -17.48% | -0.05B |
| 2023-09-30 | $266M | 82 | +6.66% | +21.57% | -14.90% | -0.03B |
| 2023-06-30 | $299M | 87 | -0.68% | +19.42% | -20.10% | +0.00B |
| 2023-03-31 | $298M | 89 | -25.78% | -7.82% | -17.97% | +0.02B |
| 2022-12-31 | $274M | 91 | +6.75% | +7.56% | -0.82% | -0.01B |
| 2022-09-30 | $262M | 87 | -7.84% | -4.93% | -2.91% | +0.01B |
| 2022-06-30 | $270M | 85 | -25.23% | -16.11% | -9.12% | +0.04B |