Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.12%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.66%
baseline attrition
Rally response
-14.26%
trims into rallies
when a holding rises +10%+
Top positions · 19
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CBLCBL & Associates Propert | $325M | 42.1% | +52.2% | 4.5 yr |
| — | $57M | 7.4% | — | 3.5 yr |
| EAElectronic Arts Inc. | $56M | 7.3% | +41.7% | 0.3 yr |
| QRVOQorvo, Inc. | $48M | 6.2% | +6.9% | 0.3 yr |
| FFWMFirst Foundation Inc. | $48M | 6.2% | +13.7% | 1.8 yr |
| AMBPArdagh Metal Packaging S | $47M | 6.0% | +49.4% | 4.8 yr |
| RUNSunrun Inc. | $33M | 4.3% | +131.4% | 5.8 yr |
| COMPCompass, Inc. | $26M | 3.3% | -16.3% | 0.5 yr |
| WBDWarner Bros. Discovery, | $25M | 3.2% | +155.9% | 0.3 yr |
| ATKRAtkore Inc. | $18M | 2.3% | +0.2% | 0.3 yr |
| — | $17M | 2.2% | — | 0.3 yr |
| PFSIPennyMac Financial Servi | $16M | 2.1% | -11.7% | 0.3 yr |
| MBCMasterBrand, Inc. | $14M | 1.8% | -36.4% | 1.0 yr |
| KVUEKenvue Inc. | $13M | 1.7% | -25.0% | 0.5 yr |
| OCFCOceanFirst Financial Cor | $11M | 1.4% | +11.0% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
REIT - Retail42.1%+9.8pp$325M
Unknown10.6%-7.0pp$82M
Banks - Regional7.8%+1.8pp$61M
Electronic Gaming & Multimedia7.3%$56M
Semiconductors6.2%$48M
Packaging & Containers6.0%-26.9pp$47M
Solar4.3%+2.0pp$33M
Software - Application3.3%$26M
Entertainment3.2%$25M
Electrical Equipment & Parts2.3%$18M
Country
US83.3%+6.2pp
Unknown10.6%-7.0pp
LU6.0%+0.8pp
Top 5: 69.3% · Top 10: 88.6% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CBL | $225M | +0.11B | 52.2% |
| RUN | $16M | +0.02B | 131.4% |
| AMBP | $37M | +0.02B | 49.4% |
| FFWM | $42M | +0.01B | 13.7% |
| MAGN | $13M | -0.01B | -47.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MAGN | $13M | -0.01B | -47.6% |
Top buys this quarter · 11
| EA Electronic Arts Inc.new | +$56M |
| QRVO Qorvo, Inc.new | +$48M |
| WBD Warner Bros. Discovery, Inc.new | +$25M |
| ATKR Atkore Inc.new | +$18M |
| PFSI PennyMac Financial Services, Inew | +$16M |
| OCFC OceanFirst Financial Corp.new | +$11M |
| COMP Compass, Inc. | +$11M |
| RUN Sunrun Inc. | +$10M |
| FFIC Flushing Financial Corporationnew | +$1M |
| — new | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $772M | 19 | +39.25% | +17.59% | +21.66% | +0.02B |
| 2025-12-31 | $761M | 14 | +27.89% | +17.72% | +10.17% | -0.07B |
| 2025-09-30 | $729M | 13 | +16.99% | +17.52% | -0.53% | -0.13B |
| 2025-06-30 | $723M | 15 | +3.22% | +14.94% | -11.72% | +0.00B |
| 2025-03-31 | $696M | 13 | +4.80% | +8.30% | -3.50% | -0.01B |
| 2024-12-31 | $779M | 11 | +14.07% | +24.89% | -10.82% | -0.05B |
| 2024-09-30 | $790M | 13 | +18.57% | +36.04% | -17.46% | -0.09B |
| 2024-06-30 | $838M | 14 | +17.27% | +24.49% | -7.22% | -0.08B |
| 2024-03-31 | $867M | 15 | +12.97% | +29.62% | -16.65% | +0.05B |
| 2023-12-31 | $823M | 18 | +21.13% | +26.18% | -5.04% | -0.23B |
| 2023-09-30 | $969M | 24 | +21.59% | +21.57% | +0.02% | -0.06B |
| 2023-06-30 | $991M | 29 | +16.69% | +19.42% | -2.73% | +0.32B |
| 2023-03-31 | $661M | 25 | -11.95% | -7.82% | -4.13% | -0.28B |
| 2022-12-31 | $880M | 35 | +8.89% | +7.56% | +1.32% | -0.18B |
| 2022-09-30 | $972M | 54 | -0.71% | -4.93% | +4.21% | -0.22B |
| 2022-06-30 | $1.20B | 59 | -23.40% | -16.11% | -7.29% | -0.33B |