Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.42%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.97%
baseline attrition
Rally response
-4.25%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JAAAJanus Henderson AAA CLO | $25M | 6.3% | — | 1.0 yr |
| PFFiShares Preferred and In | $21M | 5.3% | — | 1.8 yr |
| FFCFlaherty & Crumrine Pref | $19M | 4.7% | — | 10.5 yr |
| COHRCoherent, Inc. | $13M | 3.2% | +266.8% | 3.8 yr |
| SCHOSchwab Short-Term U.S. T | $12M | 3.1% | — | 0.8 yr |
| VNQVanguard Real Estate ETF | $12M | 3.1% | — | 1.5 yr |
| REZiShares Residential and | $12M | 3.1% | — | 4.5 yr |
| MAMAMama's Creations, Inc. | $11M | 2.7% | +135.6% | 4.8 yr |
| ENSGThe Ensign Group, Inc. | $10M | 2.5% | +55.9% | 10.5 yr |
| TYGTortoise Energy Infrastr | $10M | 2.5% | +28.4% | 1.8 yr |
| AMLPAlerian MLP ETF | $9M | 2.3% | — | 1.8 yr |
| KYNKayne Anderson Energy In | $8M | 2.1% | — | 10.5 yr |
| NEENextEra Energy, Inc. | $7M | 1.8% | +34.9% | 2.3 yr |
| AEHRAehr Test Systems | $7M | 1.7% | +408.6% | 1.0 yr |
| ODCOil-Dri Corporation of A | $7M | 1.6% | +43.6% | 5.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management30.5%+16.5pp$122M
Gold6.4%+1.1pp$25M
Hardware, Equipment & Parts5.6%+0.4pp$22M
Asset Management - Income4.8%+3.5pp$19M
Packaged Foods3.6%+1.5pp$14M
Medical - Care Facilities3.5%-2.7pp$14M
Unknown3.4%-2.1pp$14M
Asset Management - Leveraged3.1%$12M
Chemicals - Specialty3.0%+0.2pp$12M
Oil & Gas Equipment & Services2.8%-1.1pp$11M
Country
US90.7%+2.5pp
CA5.3%+0.2pp
Unknown3.4%-2.1pp
GB0.3%
TW0.1%
IE0.1%
JP0.1%-0.0pp
IL0.0%-0.0pp
Top 5: 22.6% · Top 10: 36.4% · Top 25: 60.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| COHR | $6M | +0.02B | 266.8% |
| MAMA | $5M | +0.01B | 135.6% |
| ENSG | $12M | +0.01B | 55.9% |
| KTOS | $3M | +0.00B | 137.5% |
| EQX | $3M | +0.00B | 110.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| BUDA Buda Juice Inc.new | +$3M |
| ELWT Elauwit Connection, Inc. Commo | +$1M |
| TSM Taiwan Semiconductor Manufactu | +$0M |
| GOOG Alphabet Inc. | +$0M |
| CHRW C.H. Robinson Worldwide, Inc. | +$0M |
| PM Philip Morris International In | +$0M |
| TJX The TJX Companies, Inc. | +$0M |
| KO The Coca-Cola Company | +$0M |
| EXPD Expeditors International of Wa | +$0M |
| LMT Lockheed Martin Corporation | +$0M |
Top sells this quarter · 15
| COHR Coherent, Inc. | −$6M |
| WLDN Willdan Group, Inc. | −$6M |
| ASM Avino Silver & Gold Mines Ltd. | −$3M |
| OSS One Stop Systems, Inc. | −$2M |
| DTST Data Storage Corporationexit | −$1M |
| ENSG The Ensign Group, Inc. | −$9M |
| POLA Polar Power, Inc. | −$1M |
| EPM Evolution Petroleum Corporatio | −$1M |
| HBM Hudbay Minerals Inc. | −$1M |
| AIRG Airgain, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $398M | 290 | +45.86% | +17.59% | +28.27% | -0.02B |
| 2025-12-31 | $389M | 238 | +18.73% | +17.72% | +1.01% | +0.01B |
| 2025-09-30 | $376M | 159 | +34.07% | +17.52% | +16.55% | +0.01B |
| 2025-06-30 | $309M | 172 | +24.15% | +14.94% | +9.20% | +0.01B |
| 2025-03-31 | $266M | 178 | +5.61% | +8.30% | -2.70% | +0.01B |
| 2024-12-31 | $292M | 179 | +25.03% | +24.89% | +0.15% | -0.04B |
| 2024-09-30 | $291M | 176 | +17.65% | +36.04% | -18.39% | +0.01B |
| 2024-06-30 | $259M | 170 | -22.45% | +24.49% | -46.94% | -0.01B |
| 2024-03-31 | $276M | 175 | -11.55% | +29.62% | -41.17% | +0.00B |
| 2023-12-31 | $261M | 172 | -25.06% | +26.18% | -51.23% | +0.00B |
| 2023-09-30 | $239M | 186 | -41.18% | +21.57% | -62.75% | +0.05B |
| 2023-06-30 | $255M | 184 | -32.40% | +19.42% | -51.82% | -0.01B |
| 2023-03-31 | $239M | 188 | -65.41% | -7.82% | -57.59% | +0.04B |
| 2022-12-31 | $230M | 193 | -15.78% | +7.56% | -23.34% | +0.05B |
| 2022-09-30 | $219M | 186 | -16.49% | -4.93% | -11.56% | +0.03B |
| 2022-06-30 | $231M | 181 | -44.11% | -16.11% | -28.00% | +0.07B |