Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.63%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.34%
steady accumulation
Rally response
-5.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ACLSAxcelis Technologies, In | $154M | 4.4% | +87.4% | 2.3 yr |
| FCNCAFirst Citizens BancShare | $148M | 4.2% | — | 10.5 yr |
| SIMOSilicon Motion Technolog | $148M | 4.2% | +127.9% | 2.8 yr |
| MODModine Manufacturing Com | $130M | 3.7% | +182.4% | 2.5 yr |
| IDCCInterDigital, Inc. | $128M | 3.7% | +47.2% | 1.8 yr |
| PAYCPaycom Software, Inc. | $123M | 3.5% | -43.9% | 1.8 yr |
| SKWDSkyward Specialty Insura | $121M | 3.5% | -17.5% | 1.3 yr |
| AHCOAdaptHealth Corp. | $120M | 3.4% | +9.8% | 4.0 yr |
| LNTHLantheus Holdings, Inc. | $119M | 3.4% | -22.3% | 5.3 yr |
| YETIYETI Holdings, Inc. | $114M | 3.3% | +10.5% | 1.3 yr |
| FORMFormFactor, Inc. | $112M | 3.2% | +242.8% | 3.5 yr |
| LOPEGrand Canyon Education, | $110M | 3.2% | -1.7% | 7.3 yr |
| LSTRLandstar System, Inc. | $109M | 3.1% | +9.5% | 3.0 yr |
| AGOAssured Guaranty Ltd. | $105M | 3.0% | -6.0% | 4.5 yr |
| EEFTEuronet Worldwide, Inc. | $99M | 2.8% | -37.9% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.1%+5.5pp$420M
Banks - Regional11.3%-0.4pp$393M
Software - Application7.4%+1.4pp$258M
Insurance - Property & Casualty6.1%+0.7pp$211M
Leisure5.8%+4.6pp$203M
Insurance - Specialty5.8%-1.1pp$202M
Software - Infrastructure5.5%+0.0pp$191M
Aerospace & Defense4.8%$167M
Auto - Parts4.0%+0.8pp$139M
Medical - Devices3.4%+0.3pp$120M
Country
US87.8%-3.0pp
BM5.4%-1.3pp
HK4.2%+1.7pp
BS2.6%
Top 5: 20.3% · Top 10: 37.5% · Top 25: 77.9%
Top buys this quarter · 15
| PAYC Paycom Software, Inc. | +$51M |
| ACIW ACI Worldwide, Inc. | +$45M |
| OSW OneSpaWorld Holdings Limited | +$39M |
| COLD Americold Realty Trust, Inc. | +$36M |
| AHCO AdaptHealth Corp. | +$24M |
| LOPE Grand Canyon Education, Inc. | +$21M |
| ASGN ASGN Incorporated | +$17M |
| SKWD Skyward Specialty Insurance Gr | +$121M |
| EEFT Euronet Worldwide, Inc. | +$99M |
| MMS Maximus, Inc. | +$55M |
Top sells this quarter · 15
| FORM FormFactor, Inc. | −$96M |
| SIMO Silicon Motion Technology Corp | −$146M |
| PAR PAR Technology Corporationexit | −$17M |
| WTM White Mountains Insurance Grou | −$14M |
| MOD Modine Manufacturing Company | −$88M |
| ESI Element Solutions Inc | −$31M |
| SFM Sprouts Farmers Market, Inc. | −$6M |
| ZBH Zimmer Biomet Holdings, Inc.exit | −$4M |
| AVTR Avantor, Inc.exit | −$4M |
| KEYS Keysight Technologies, Inc. | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.48B | 70 | +13.69% | +17.59% | -3.90% | +0.07B |
| 2025-12-31 | $3.34B | 74 | +6.91% | +17.72% | -10.81% | +0.23B |
| 2025-09-30 | $3.08B | 74 | +4.66% | +17.52% | -12.86% | -0.03B |
| 2025-06-30 | $2.93B | 74 | +8.91% | +14.94% | -6.03% | +0.08B |
| 2025-03-31 | $2.74B | 77 | +3.37% | +8.30% | -4.94% | +0.25B |
| 2024-12-31 | $2.60B | 77 | +17.29% | +24.89% | -7.60% | -0.01B |
| 2024-09-30 | $2.63B | 80 | +34.22% | +36.04% | -1.81% | -0.02B |
| 2024-06-30 | $2.41B | 81 | +17.74% | +24.49% | -6.76% | -0.01B |
| 2024-03-31 | $2.46B | 81 | +24.69% | +29.62% | -4.93% | -0.02B |
| 2023-12-31 | $2.27B | 80 | +17.81% | +26.18% | -8.37% | +0.09B |
| 2023-09-30 | $1.93B | 77 | +14.96% | +21.57% | -6.61% | +0.02B |
| 2023-06-30 | $1.97B | 75 | +11.14% | +19.42% | -8.28% | +0.05B |
| 2023-03-31 | $1.85B | 76 | -7.46% | -7.82% | +0.36% | -0.05B |
| 2022-12-31 | $1.84B | 79 | +10.55% | +7.56% | +2.99% | +0.05B |
| 2022-09-30 | $1.62B | 77 | -6.48% | -4.93% | -1.55% | -0.08B |
| 2022-06-30 | $1.82B | 79 | -13.14% | -16.11% | +2.97% | +0.03B |