Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.43%
baseline attrition
Rally response
-5.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $544M | 1.8% | — | 0.3 yr |
| DOCHealthpeak Properties, I | $480M | 1.6% | -12.8% | 2.3 yr |
| PRIMPrimoris Services Corpor | $424M | 1.4% | +149.7% | 5.8 yr |
| LITELumentum Holdings Inc. | $413M | 1.4% | +1027.3% | 3.5 yr |
| ALSNAllison Transmission Hol | $397M | 1.3% | +23.8% | 8.5 yr |
| EXELExelixis, Inc. | $366M | 1.2% | +16.2% | 7.0 yr |
| FIXComfort Systems USA, Inc | $334M | 1.1% | +329.0% | 9.5 yr |
| ONBOld National Bancorp | $333M | 1.1% | +6.9% | 4.8 yr |
| SONSonoco Products Company | $320M | 1.1% | +19.9% | 6.0 yr |
| JAZZJazz Pharmaceuticals plc | $317M | 1.1% | +52.3% | 2.5 yr |
| BEBloom Energy Corporation | $312M | 1.1% | +589.2% | 1.5 yr |
| FNBF.N.B. Corporation | $299M | 1.0% | +28.2% | 7.5 yr |
| VRTVertiv Holdings Co | $298M | 1.0% | +247.5% | 3.5 yr |
| LKQLKQ Corporation | $292M | 1.0% | -28.4% | 3.5 yr |
| DVNDevon Energy Corporation | $281M | 0.9% | +38.1% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional6.5%-4.9pp$1.93B
Auto - Parts5.3%+2.5pp$1.57B
Engineering & Construction5.1%+1.6pp$1.49B
Packaging & Containers3.5%-0.5pp$1.03B
Biotechnology3.4%+0.5pp$1.00B
Communication Equipment3.4%+2.7pp$1.00B
Electrical Equipment & Parts3.3%+1.3pp$973M
Semiconductors2.8%+1.4pp$832M
Hardware, Equipment & Parts2.7%+1.2pp$803M
Information Technology Services2.7%-0.7pp$784M
Country
US93.7%-2.2pp
Unknown2.0%+1.5pp
BM1.9%-0.4pp
IE1.4%+0.7pp
CH0.7%+0.7pp
SG0.2%
CA0.1%-0.1pp
LU0.0%+0.0pp
Top 5: 7.6% · Top 10: 13.3% · Top 25: 26.4%
Top buys this quarter · 15
| INDV Indivior Pharmaceuticals Incnew | +$138M |
| FIS Fidelity National Information | +$121M |
| TTEK Tetra Tech, Inc. | +$100M |
| ECG Everus Construction Group, Incnew | +$91M |
| VIAV Viavi Solutions Inc.new | +$88M |
| CGNX Cognex Corporationnew | +$81M |
| TFX Teleflex Incorporated | +$80M |
| RYN Rayonier Inc. | +$75M |
| LBRT Liberty Energy Inc.new | +$71M |
| AVTR Avantor, Inc. | +$71M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$358M |
| KEY KeyCorp | −$201M |
| OLN Olin Corporationexit | −$175M |
| TKR The Timken Company | −$123M |
| LYB LyondellBasell Industries N.V. | −$95M |
| AGCO AGCO Corporation | −$93M |
| MUSA Murphy USA Inc. | −$92M |
| TEX Terex Corporation | −$83M |
| STRL Sterling Infrastructure, Inc. | −$82M |
| LTH Life Time Group Holdings, Inc.exit | −$78M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $29.55B | 496 | +22.32% | +17.59% | +4.73% | -0.98B |
| 2025-12-31 | $29.58B | 497 | +11.62% | +17.72% | -6.09% | -0.10B |
| 2025-09-30 | $29.26B | 493 | +10.09% | +17.52% | -7.42% | -0.95B |
| 2025-06-30 | $27.41B | 602 | +9.91% | +14.94% | -5.03% | +0.12B |
| 2025-03-31 | $25.75B | 588 | +0.17% | +8.30% | -8.13% | +0.88B |
| 2024-12-31 | $26.41B | 599 | +16.78% | +24.89% | -8.11% | +0.92B |
| 2024-09-30 | $25.47B | 564 | +34.39% | +36.04% | -1.65% | -0.22B |
| 2024-06-30 | $23.36B | 558 | +20.94% | +24.49% | -3.55% | +1.20B |
| 2024-03-31 | $22.92B | 542 | +27.90% | +29.62% | -1.73% | +1.25B |
| 2023-12-31 | $19.74B | 520 | +19.46% | +26.18% | -6.71% | -0.28B |
| 2023-09-30 | $17.39B | 516 | +16.90% | +21.57% | -4.67% | -0.04B |
| 2023-06-30 | $17.60B | 503 | +14.15% | +19.42% | -5.27% | -0.12B |
| 2023-03-31 | $17.34B | 512 | -2.06% | -7.82% | +5.76% | +1.19B |
| 2022-12-31 | $15.75B | 506 | +12.67% | +7.56% | +5.11% | +0.10B |
| 2022-09-30 | $13.89B | 467 | -3.32% | -4.93% | +1.61% | -0.15B |
| 2022-06-30 | $14.53B | 487 | -12.32% | -16.11% | +3.79% | -0.25B |