Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.04%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.22%
baseline attrition
Rally response
-7.72%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JFRNuveen Floating Rate Inc | $13M | 3.0% | — | 1.5 yr |
| STXSeagate Technology Holdi | $11M | 2.7% | +366.3% | 1.0 yr |
| CENXCentury Aluminum Company | $10M | 2.4% | +216.2% | 1.0 yr |
| PSXPhillips 66 | $10M | 2.3% | +53.0% | 6.3 yr |
| DINOHF Sinclair Corporation | $9M | 2.2% | +98.2% | 1.0 yr |
| PLOWDouglas Dynamics, Inc. | $9M | 2.0% | +87.7% | 0.3 yr |
| LPLALPL Financial Holdings I | $9M | 2.0% | -7.7% | 4.8 yr |
| BAC-PLBank of America Corporat | $9M | 2.0% | — | 5.0 yr |
| JPMJPMorgan Chase & Co. | $7M | 1.6% | +21.8% | 10.5 yr |
| CCThe Chemours Company | $7M | 1.6% | +67.0% | 6.5 yr |
| NFGNational Fuel Gas Compan | $7M | 1.5% | +20.9% | 8.8 yr |
| HMNHorace Mann Educators Co | $6M | 1.5% | +3.1% | 4.3 yr |
| CRSCarpenter Technology Cor | $6M | 1.5% | +118.3% | 3.8 yr |
| AGNCZAGNC Investment Corp. 8. | $6M | 1.4% | — | 2.3 yr |
| ZTOZTO Express (Cayman) Inc | $6M | 1.4% | +29.3% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management5.8%+1.0pp$25M
Oil & Gas Refining & Marketing5.8%+5.0pp$25M
Banks - Diversified5.3%+1.2pp$23M
Regulated Electric4.8%-0.1pp$21M
Asset Management - Income4.8%+3.1pp$21M
Semiconductors3.9%+3.0pp$17M
Computer Hardware3.8%+1.9pp$16M
Regulated Gas2.9%+0.1pp$12M
Auto - Parts2.7%+1.4pp$12M
Financial - Capital Markets2.6%-0.5pp$11M
Country
US85.0%-4.1pp
CA3.7%+3.3pp
SG3.5%
GB1.8%+0.5pp
CN1.4%-0.2pp
TW1.3%+0.4pp
AU1.0%
LU0.8%+0.4pp
Top 5: 12.5% · Top 10: 21.8% · Top 25: 41.3%
Top buys this quarter · 15
| PLOW Douglas Dynamics, Inc.new | +$9M |
| MSM MSC Industrial Direct Co., Incnew | +$4M |
| IIIN Insteel Industries, Inc.new | +$3M |
| RH Rh | +$3M |
| SWK Stanley Black & Decker, Inc. | +$2M |
| SMG The Scotts Miracle-Gro Company | +$2M |
| MT ArcelorMittal S.A. | +$2M |
| SMTC Semtech Corporationnew | +$2M |
| BHP BHP Group Limited | +$1M |
| PODD Insulet Corporationnew | +$1M |
Top sells this quarter · 15
| RIG Transocean Ltd.exit | −$12M |
| AROC Archrock, Inc. | −$6M |
| STX Seagate Technology Holdings pl | −$6M |
| TTI TETRA Technologies, Inc.exit | −$6M |
| TER Teradyne, Inc.exit | −$5M |
| CENX Century Aluminum Company | −$9M |
| TMUS T-Mobile US, Inc. | −$4M |
| DLX Deluxe Corporation | −$3M |
| GSBD Goldman Sachs BDC, Inc.exit | −$3M |
| D Dominion Energy, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $427M | 143 | +29.85% | +17.59% | +12.26% | -0.06B |
| 2025-12-31 | $455M | 183 | +17.57% | +17.72% | -0.15% | -0.01B |
| 2025-09-30 | $449M | 176 | +18.14% | +17.52% | +0.62% | -0.03B |
| 2025-06-30 | $429M | 188 | +12.05% | +14.94% | -2.89% | -0.01B |
| 2025-03-31 | $421M | 157 | +5.31% | +8.30% | -3.00% | -0.00B |
| 2024-12-31 | $439M | 174 | +17.41% | +24.89% | -7.47% | -0.05B |
| 2024-09-30 | $474M | 156 | +23.83% | +36.04% | -12.21% | +0.00B |
| 2024-06-30 | $444M | 181 | +15.34% | +24.49% | -9.15% | -0.01B |
| 2024-03-31 | $459M | 158 | +22.86% | +29.62% | -6.76% | -0.01B |
| 2023-12-31 | $435M | 156 | +16.32% | +26.18% | -9.86% | -0.00B |
| 2023-09-30 | $401M | 162 | +18.21% | +21.57% | -3.36% | +0.01B |
| 2023-06-30 | $391M | 154 | +14.89% | +19.42% | -4.53% | -0.02B |
| 2023-03-31 | $393M | 152 | -4.34% | -7.82% | +3.48% | -0.01B |
| 2022-12-31 | $391M | 135 | +11.06% | +7.56% | +3.50% | -0.02B |
| 2022-09-30 | $366M | 148 | -3.89% | -4.93% | +1.04% | -0.05B |
| 2022-06-30 | $433M | 148 | -12.32% | -16.11% | +3.79% | -0.08B |