Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.84%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.65%
baseline attrition
Rally response
-9.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IESCIES Holdings, Inc. | $4.93B | 67.1% | +188.6% | 10.0 yr |
| IWMiShares Russell 2000 ETF | $237M | 3.2% | — | 3.8 yr |
| AMRAlpha Metallurgical Reso | $112M | 1.5% | +63.9% | 5.3 yr |
| OCOwens Corning | $102M | 1.4% | -22.3% | 3.0 yr |
| TPCTutor Perini Corporation | $97M | 1.3% | +233.6% | 0.8 yr |
| SNDKSandisk Corporation | $95M | 1.3% | +1234.5% | 1.3 yr |
| WTMWhite Mountains Insuranc | $83M | 1.1% | +14.1% | 0.5 yr |
| RIGTransocean Ltd. | $78M | 1.1% | +109.1% | 2.3 yr |
| BWBabcock & Wilcox Enterpr | $75M | 1.0% | +2084.7% | 3.0 yr |
| GNWGenworth Financial, Inc. | $63M | 0.9% | +14.5% | 0.8 yr |
| OIHVanEck Oil Services ETF | $61M | 0.8% | — | 2.8 yr |
| GLWCorning Incorporated | $55M | 0.7% | +201.5% | 1.5 yr |
| WDCWestern Digital Corporat | $54M | 0.7% | +571.9% | 2.0 yr |
| MUMicron Technology, Inc. | $47M | 0.6% | +289.6% | 1.8 yr |
| SLBSLB N.V. | $46M | 0.6% | +26.7% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Engineering & Construction68.8%-8.1pp$5.05B
Asset Management5.1%+2.6pp$374M
Hardware, Equipment & Parts3.1%+2.9pp$228M
Oil & Gas Equipment & Services3.1%-0.6pp$224M
Coal2.1%-0.2pp$158M
Construction1.9%+0.4pp$142M
Semiconductors1.8%+1.3pp$130M
Oil & Gas Drilling1.5%+0.0pp$107M
Industrial - Machinery1.2%+1.1pp$87M
Insurance - Property & Casualty1.1%$83M
Country
US95.7%-0.1pp
BM1.8%+1.2pp
CH1.1%+0.4pp
SG0.4%
GB0.4%
Unknown0.2%-2.7pp
CA0.2%
IL0.2%+0.1pp
Top 5: 74.6% · Top 10: 79.9% · Top 25: 88.7%
Top buys this quarter · 15
| APH Amphenol Corporationnew | +$46M |
| AVTR Avantor, Inc. | +$34M |
| INDV Indivior Pharmaceuticals Incnew | +$33M |
| ON ON Semiconductor Corporationnew | +$29M |
| TPC Tutor Perini Corporation | +$28M |
| AMD Advanced Micro Devices, Inc. | +$19M |
| BAX Baxter International Inc. | +$19M |
| AGO Assured Guaranty Ltd. | +$17M |
| AA Alcoa Corporation | +$15M |
| GT The Goodyear Tire & Rubber Com | +$14M |
Top sells this quarter · 15
| LXU LSB Industries, Inc.exit | −$32M |
| FLEX Flex Ltd. | −$18M |
| OIS Oil States International, Inc. | −$15M |
| SNDK Sandisk Corporation | −$39M |
| IESC IES Holdings, Inc. | −$4.03B |
| CNR Core Natural Resources, Inc. | −$3M |
| WDC Western Digital Corporation | −$36M |
| HUM Humana Inc. | −$2M |
| EQT EQT Corporation | −$19M |
| MHK Mohawk Industries, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $7.34B | 101 | +167.99% | +17.59% | +150.40% | +0.41B |
| 2025-12-31 | $5.73B | 93 | +83.54% | +17.72% | +65.82% | +0.20B |
| 2025-09-30 | $5.44B | 87 | +79.30% | +17.52% | +61.78% | +0.45B |
| 2025-06-30 | $3.77B | 77 | +72.14% | +14.94% | +57.20% | -0.04B |
| 2025-03-31 | $2.32B | 79 | +9.87% | +8.30% | +1.57% | -0.33B |
| 2024-12-31 | $3.19B | 88 | +75.95% | +24.89% | +51.06% | +0.03B |
| 2024-09-30 | $3.19B | 85 | +98.73% | +36.04% | +62.69% | -0.45B |
| 2024-06-30 | $2.86B | 100 | +81.61% | +24.49% | +57.12% | +0.14B |
| 2024-03-31 | $2.59B | 89 | +95.65% | +29.62% | +66.03% | +0.15B |
| 2023-12-31 | $1.84B | 77 | +66.15% | +26.18% | +39.98% | -0.13B |
| 2023-09-30 | $1.76B | 74 | +89.01% | +21.57% | +67.44% | +0.26B |
| 2023-06-30 | $1.29B | 62 | +47.33% | +19.42% | +27.91% | +0.08B |
| 2023-03-31 | $1.07B | 61 | -3.68% | -7.82% | +4.14% | -0.20B |
| 2022-12-31 | $1.13B | 57 | +27.61% | +7.56% | +20.05% | +0.16B |
| 2022-09-30 | $761M | 54 | -9.37% | -4.93% | -4.44% | -0.02B |
| 2022-06-30 | $862M | 57 | -26.07% | -16.11% | -9.96% | -0.16B |