Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.73%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.73%
baseline attrition
Rally response
-6.75%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HASIHA Sustainable Infrastru | $56M | 4.6% | +31.4% | 10.5 yr |
| OSISOSI Systems, Inc. | $51M | 4.2% | +36.6% | 10.5 yr |
| FNFabrinet | $50M | 4.1% | +164.0% | 10.0 yr |
| TTMITTM Technologies, Inc. | $49M | 4.0% | +375.0% | 1.0 yr |
| SIMOSilicon Motion Technolog | $48M | 4.0% | +127.9% | 5.3 yr |
| MYRGMYR Group Inc. | $46M | 3.8% | +149.6% | 5.0 yr |
| UMBFUMB Financial Corporatio | $46M | 3.8% | +13.2% | 2.3 yr |
| DYDycom Industries, Inc. | $45M | 3.7% | +122.4% | 4.0 yr |
| FCNFTI Consulting, Inc. | $45M | 3.7% | +7.7% | 0.5 yr |
| LAURLaureate Education, Inc. | $43M | 3.5% | +70.4% | 0.5 yr |
| TSEMTower Semiconductor Ltd. | $42M | 3.5% | +392.1% | 5.0 yr |
| CVSACovista Inc. | $39M | 3.2% | +14.5% | 5.3 yr |
| TTEKTetra Tech, Inc. | $39M | 3.2% | +3.7% | 8.3 yr |
| SHOOSteven Madden, Ltd. | $38M | 3.1% | +30.7% | 10.5 yr |
| BLBDBlue Bird Corporation | $36M | 2.9% | +75.4% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Engineering & Construction15.0%+1.7pp$182M
Hardware, Equipment & Parts12.9%+2.8pp$156M
Banks - Regional8.6%-0.3pp$105M
Semiconductors7.4%+1.1pp$90M
Consulting Services6.4%+1.1pp$78M
Leisure5.4%+1.4pp$65M
Residential Construction5.1%-1.6pp$62M
Financial - Diversified4.6%+1.9pp$56M
Education & Training Services3.5%$43M
Software - Application3.4%-0.6pp$41M
Country
US85.0%+1.9pp
KY4.1%+2.0pp
HK4.0%+2.0pp
IL3.5%+0.8pp
BS2.5%+0.4pp
CA1.0%-1.9pp
Top 5: 20.9% · Top 10: 39.4% · Top 25: 80.1%
Top buys this quarter · 15
| FCN FTI Consulting, Inc. | +$41M |
| WLDN Willdan Group, Inc.new | +$17M |
| LAUR Laureate Education, Inc. | +$14M |
| BLBD Blue Bird Corporation | +$8M |
| CASH Pathward Financial, Inc. | +$8M |
| FSS Federal Signal Corporation | +$8M |
| UMBF UMB Financial Corporation | +$8M |
| TTEK Tetra Tech, Inc. | +$5M |
| HASI HA Sustainable Infrastructure | +$5M |
| ALG Alamo Group Inc. | +$5M |
Top sells this quarter · 15
| TSEM Tower Semiconductor Ltd. | −$38M |
| HURN Huron Consulting Group Inc. | −$26M |
| EXLS ExlService Holdings, Inc. | −$21M |
| TTMI TTM Technologies, Inc. | −$44M |
| MYRG MYR Group Inc. | −$44M |
| FIX Comfort Systems USA, Inc. | −$10M |
| ECG Everus Construction Group, Incexit | −$9M |
| LZ LegalZoom.com, Inc.exit | −$9M |
| ICFI ICF International, Inc. | −$9M |
| SIMO Silicon Motion Technology Corp | −$45M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.21B | 41 | +45.62% | +17.59% | +28.03% | -0.05B |
| 2025-12-31 | $1.21B | 43 | +26.57% | +17.72% | +8.85% | -0.05B |
| 2025-09-30 | $1.22B | 41 | +25.42% | +17.52% | +7.90% | -0.01B |
| 2025-06-30 | $1.07B | 41 | +16.17% | +14.94% | +1.23% | -0.02B |
| 2025-03-31 | $930M | 46 | -1.33% | +8.30% | -9.64% | -0.01B |
| 2024-12-31 | $1.03B | 43 | +22.49% | +24.89% | -2.40% | -0.04B |
| 2024-09-30 | $1.05B | 43 | +37.82% | +36.04% | +1.78% | -0.11B |
| 2024-06-30 | $1.09B | 42 | +21.41% | +24.49% | -3.08% | +0.00B |
| 2024-03-31 | $1.09B | 41 | +29.91% | +29.62% | +0.29% | -0.18B |
| 2023-12-31 | $1.12B | 39 | +24.80% | +26.18% | -1.38% | -0.05B |
| 2023-09-30 | $1.02B | 43 | +20.27% | +21.57% | -1.29% | -0.00B |
| 2023-06-30 | $1.09B | 42 | +20.57% | +19.42% | +1.15% | -0.06B |
| 2023-03-31 | $1.07B | 42 | -1.64% | -7.82% | +6.18% | -0.09B |
| 2022-12-31 | $1.08B | 41 | +10.47% | +7.56% | +2.91% | -0.04B |
| 2022-09-30 | $1.01B | 42 | -5.98% | -4.93% | -1.05% | -0.19B |
| 2022-06-30 | $1.28B | 43 | -12.66% | -16.11% | +3.45% | -0.02B |