Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.13%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.63%
steady accumulation
Rally response
-3.13%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSEMTower Semiconductor Ltd. | $96M | 2.2% | +392.1% | 6.8 yr |
| MGYMagnolia Oil & Gas Corpo | $89M | 2.1% | +28.3% | 7.8 yr |
| MLIMueller Industries, Inc. | $87M | 2.0% | +47.2% | 10.5 yr |
| EMEEMCOR Group, Inc. | $85M | 2.0% | +100.2% | 10.5 yr |
| JAZZJazz Pharmaceuticals plc | $77M | 1.8% | +52.3% | 8.8 yr |
| NWENorthwestern Energy Grou | $75M | 1.7% | +19.1% | 10.5 yr |
| ADEAAdeia Inc. | $65M | 1.5% | +84.3% | 3.5 yr |
| GVAGranite Construction Inc | $63M | 1.5% | +59.6% | 10.5 yr |
| OSISOSI Systems, Inc. | $58M | 1.3% | +36.6% | 7.5 yr |
| SIMOSilicon Motion Technolog | $57M | 1.3% | +127.9% | 10.5 yr |
| MKSIMKS Inc. | $56M | 1.3% | +188.8% | 10.5 yr |
| PIPRPiper Sandler Companies | $55M | 1.3% | — | 0.3 yr |
| AUBAtlantic Union Bankshare | $55M | 1.3% | +19.9% | 7.0 yr |
| TRSTTrustCo Bank Corp NY | $51M | 1.2% | +49.2% | 5.0 yr |
| REXREX American Resources C | $51M | 1.2% | +142.7% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional13.3%-1.0pp$576M
Semiconductors7.2%+2.7pp$312M
Hardware, Equipment & Parts5.5%+0.8pp$236M
Engineering & Construction5.2%+0.2pp$224M
Biotechnology4.4%+0.6pp$192M
Oil & Gas Exploration & Production3.7%+0.5pp$161M
Unknown3.1%-0.1pp$134M
Financial - Capital Markets2.5%+1.2pp$107M
Apparel - Retail2.1%-0.2pp$91M
REIT - Healthcare Facilities2.1%-0.5pp$90M
Country
US87.8%-0.6pp
IL3.2%+0.9pp
Unknown3.1%-0.1pp
IE2.1%-0.3pp
HK1.3%+0.5pp
BM0.9%-0.3pp
CA0.8%+0.3pp
GB0.4%-0.4pp
Top 5: 10.0% · Top 10: 17.3% · Top 25: 34.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TSEM | $28M | +0.11B | 392.1% |
| FIX | $30M | +0.10B | 329.0% |
| EME | $57M | +0.06B | 100.2% |
| SIMO | $30M | +0.04B | 127.9% |
| MLI | $73M | +0.03B | 47.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| EHC | $47M | -0.00B | -4.1% |
Top buys this quarter · 15
| PIPR Piper Sandler Companiesnew | +$55M |
| SF Stifel Financial Corp. | +$46M |
| YSS York Space Systems, Inc.new | +$10M |
| QLYS Qualys, Inc.new | +$10M |
| FDS FactSet Research Systems Inc.new | +$9M |
| ITRI Itron, Inc. | +$7M |
| ICFI ICF International, Inc. | +$6M |
| UTZ Utz Brands, Inc. | +$4M |
| TOWN TowneBanknew | +$4M |
| SUPN Supernus Pharmaceuticals, Inc. | +$4M |
Top sells this quarter · 15
| FIX Comfort Systems USA, Inc. | −$26M |
| ESLT Elbit Systems Ltd. | −$26M |
| EHAB Enhabit, Inc. | −$22M |
| WBS Webster Financial Corporation | −$20M |
| TSEM Tower Semiconductor Ltd. | −$76M |
| COHR Coherent, Inc. | −$12M |
| EXEL Exelixis, Inc. | −$12M |
| EME EMCOR Group, Inc. | −$78M |
| SIMO Silicon Motion Technology Corp | −$54M |
| HELE Helen of Troy Limitedexit | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.33B | 246 | +28.06% | +17.59% | +10.47% | -0.11B |
| 2025-12-31 | $4.21B | 251 | +10.94% | +17.72% | -6.77% | -0.04B |
| 2025-09-30 | $4.09B | 244 | +5.59% | +17.52% | -11.93% | -0.04B |
| 2025-06-30 | $3.73B | 244 | +3.01% | +14.94% | -11.94% | +0.04B |
| 2025-03-31 | $3.49B | 244 | -5.77% | +8.30% | -14.07% | -0.08B |
| 2024-12-31 | $3.91B | 250 | +10.92% | +24.89% | -13.96% | +0.05B |
| 2024-09-30 | $3.91B | 335 | +23.90% | +36.04% | -12.14% | +0.37B |
| 2024-06-30 | $3.27B | 248 | +12.05% | +24.49% | -12.44% | -0.16B |
| 2024-03-31 | $3.56B | 250 | +20.53% | +29.62% | -9.09% | -0.05B |
| 2023-12-31 | $3.35B | 243 | +14.28% | +26.18% | -11.90% | -0.05B |
| 2023-09-30 | $3.09B | 241 | +16.10% | +21.57% | -5.47% | +0.01B |
| 2023-06-30 | $3.15B | 234 | +13.04% | +19.42% | -6.38% | -0.00B |
| 2023-03-31 | $3.04B | 308 | -5.27% | -7.82% | +2.55% | -0.06B |
| 2022-12-31 | $3.03B | 245 | +12.11% | +7.56% | +4.55% | -0.02B |
| 2022-09-30 | $2.73B | 245 | -4.77% | -4.93% | +0.16% | +0.00B |
| 2022-06-30 | $2.86B | 249 | -13.06% | -16.11% | +3.05% | +0.09B |