Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.86%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.24%
baseline attrition
Rally response
-12.61%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TDWTidewater Inc. | $77M | 12.5% | +97.7% | 8.8 yr |
| VALValaris Limited | $50M | 8.1% | +149.7% | 4.8 yr |
| BCCBoise Cascade Company | $43M | 6.9% | -21.9% | 0.8 yr |
| HCCWarrior Met Coal, Inc. | $34M | 5.5% | +96.2% | 8.5 yr |
| HOGHarley-Davidson, Inc. | $30M | 4.8% | -17.3% | 0.3 yr |
| RHIRobert Half Internationa | $23M | 3.7% | -49.8% | 0.3 yr |
| BNBrookfield Corporation | $19M | 3.2% | +16.5% | 3.5 yr |
| FPHFive Point Holdings, LLC | $19M | 3.0% | -9.4% | 9.0 yr |
| CBRECBRE Group, Inc. | $18M | 3.0% | +3.6% | 6.3 yr |
| PLDPrologis, Inc. | $17M | 2.7% | +22.3% | 6.3 yr |
| ROGRogers Corporation | $16M | 2.6% | +58.9% | 0.8 yr |
| UHAL-BU-Haul Holding Company | $13M | 2.1% | — | 3.5 yr |
| LEN-BLennar Corporation | $12M | 2.0% | — | 9.5 yr |
| SUISun Communities, Inc. | $12M | 1.9% | +3.7% | 3.0 yr |
| PHMPulteGroup, Inc. | $11M | 1.8% | +15.3% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Equipment & Services20.6%+9.2pp$127M
Residential Construction7.8%+0.2pp$48M
Construction Materials6.9%$43M
Real Estate - Services6.1%-2.5pp$38M
Coal5.5%-0.4pp$34M
Auto - Recreational Vehicles4.8%$30M
Banks - Regional4.6%-11.0pp$28M
Asset Management4.0%-1.0pp$25M
Staffing & Employment Services3.7%$23M
REIT - Industrial3.5%-0.9pp$21M
Country
US86.2%+4.5pp
BM8.1%+3.6pp
CA4.3%+0.3pp
Unknown1.4%-1.5pp
Top 5: 37.8% · Top 10: 53.4% · Top 25: 77.8%
Top buys this quarter · 15
| HOG Harley-Davidson, Inc.new | +$30M |
| RHI Robert Half International Inc.new | +$23M |
| BCC Boise Cascade Company | +$10M |
| CPRX Catalyst Pharmaceuticals, Inc.new | +$5M |
| FSV FirstService Corporation | +$4M |
| TDW Tidewater Inc. | +$4M |
| QLYS Qualys, Inc.new | +$3M |
| ALG Alamo Group Inc. | +$2M |
| FLG Flagstar Financial, Inc. | +$2M |
| COMP Compass, Inc.new | +$1M |
Top sells this quarter · 15
| BKD Brookdale Senior Living Inc. | −$22M |
| HCC Warrior Met Coal, Inc. | −$20M |
| DB Deutsche Bank AGexit | −$10M |
| VAL Valaris Limited | −$29M |
| KALU Kaiser Aluminum Corporation | −$7M |
| LXU LSB Industries, Inc. | −$6M |
| ROG Rogers Corporation | −$5M |
| CTLP Cantaloupe, Inc.exit | −$4M |
| RYN Rayonier Inc.exit | −$4M |
| BN Brookfield Corporation | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $616M | 53 | +41.05% | +17.59% | +23.45% | +0.00B |
| 2025-12-31 | $550M | 51 | +27.95% | +17.72% | +10.23% | -0.02B |
| 2025-09-30 | $533M | 50 | +10.76% | +17.52% | -6.75% | -0.01B |
| 2025-06-30 | $478M | 51 | +6.73% | +14.94% | -8.21% | -0.05B |
| 2025-03-31 | $499M | 61 | -2.51% | +8.30% | -10.81% | -0.02B |
| 2024-12-31 | $517M | 59 | +4.97% | +24.89% | -19.92% | -0.05B |
| 2024-09-30 | $612M | 59 | +28.37% | +36.04% | -7.67% | -0.02B |
| 2024-06-30 | $583M | 59 | +26.91% | +24.49% | +2.42% | -0.02B |
| 2024-03-31 | $627M | 58 | +42.93% | +29.62% | +13.31% | -0.03B |
| 2023-12-31 | $609M | 59 | +38.47% | +26.18% | +12.30% | -0.07B |
| 2023-09-30 | $596M | 59 | +45.83% | +21.57% | +24.26% | -0.05B |
| 2023-06-30 | $599M | 57 | +26.98% | +19.42% | +7.56% | -0.03B |
| 2023-03-31 | $585M | 54 | -0.84% | -7.82% | +6.98% | -0.02B |
| 2022-12-31 | $575M | 55 | +19.07% | +7.56% | +11.51% | -0.03B |
| 2022-09-30 | $504M | 52 | -6.11% | -4.93% | -1.18% | -0.02B |
| 2022-06-30 | $558M | 55 | -15.70% | -16.11% | +0.42% | -0.06B |