Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.36%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.41%
baseline attrition
Rally response
+0.83%
adds into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $99M | 68.4% | — | 1.5 yr |
| FPHFive Point Holdings, LLC | $14M | 9.3% | -9.4% | 1.5 yr |
| — | $11M | 7.4% | — | 1.3 yr |
| RMNIRimini Street, Inc. | $7M | 4.7% | -5.7% | 0.5 yr |
| UEICUniversal Electronics In | $6M | 4.4% | -32.7% | 1.5 yr |
| MXMagnachip Semiconductor | $4M | 2.7% | -18.4% | 1.5 yr |
| BXSLBlackstone Secured Lendi | $2M | 1.3% | — | 0.8 yr |
| PLCEThe Children's Place, In | $2M | 1.1% | -61.6% | 0.8 yr |
| ALITAlight, Inc. | $1M | 0.6% | -89.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown75.8%+1.9pp$110M
Real Estate - Development9.3%-0.1pp$14M
Software - Application5.4%$8M
Hardware, Equipment & Parts4.4%-1.4pp$6M
Semiconductors2.7%-6.3pp$4M
Asset Management1.3%$2M
Apparel - Retail1.1%$2M
Country
Unknown75.8%+1.9pp
US21.5%+3.0pp
LU2.7%-3.6pp
Top 5: 94.3% · Top 10: 100.0% · Top 25: 100.0%
Top sells this quarter · 1
| MX Magnachip Semiconductor Corpor | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $145M | 9 | -17.05% | +17.59% | -34.64% | +0.01B |
| 2025-12-31 | $146M | 8 | -23.29% | +17.72% | -41.01% | +0.00B |
| 2025-09-30 | $162M | 7 | -3.93% | +8.12% | -12.06% | -0.03B |
| 2025-06-30 | $197M | 10 | +6.17% | +10.78% | -4.60% | +0.02B |
| 2025-03-31 | $163M | 8 | -14.85% | -4.27% | -10.59% | +0.03B |
| 2024-12-31 | $156M | 5 | — | — | — | — |