Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.42%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.43%
steady accumulation
Rally response
-5.73%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SNEXStoneX Group Inc. | $76M | 4.4% | +5.6% | 5.8 yr |
| LAURLaureate Education, Inc. | $41M | 2.4% | +70.4% | 2.3 yr |
| UTIUniversal Technical Inst | $39M | 2.3% | +40.6% | 6.0 yr |
| ACAArcosa, Inc. | $38M | 2.2% | +37.9% | 5.5 yr |
| ATENA10 Networks, Inc. | $34M | 2.0% | +43.3% | 4.3 yr |
| RDNTRadNet, Inc. | $33M | 1.9% | +12.4% | 6.8 yr |
| SILASila Realty Trust, Inc. | $32M | 1.9% | -5.5% | 1.8 yr |
| GOOGLAlphabet Inc. | $31M | 1.8% | — | 4.8 yr |
| — | $30M | 1.8% | — | 1.3 yr |
| TDWTidewater Inc. | $29M | 1.7% | +97.7% | 2.5 yr |
| RPRXRoyalty Pharma plc | $29M | 1.7% | +57.7% | 2.3 yr |
| LQDTLiquidity Services, Inc. | $28M | 1.6% | -1.4% | 3.8 yr |
| TREELendingTree, Inc. | $28M | 1.6% | -14.7% | 5.0 yr |
| GSLGlobal Ship Lease, Inc. | $27M | 1.6% | +75.4% | 6.8 yr |
| NPKINPK International Inc. | $26M | 1.5% | +149.4% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Education & Training Services6.0%+1.6pp$104M
Asset Management5.9%-4.5pp$102M
Software - Infrastructure5.4%+1.5pp$94M
Unknown5.1%+2.4pp$89M
Financial - Capital Markets4.6%-0.0pp$79M
Financial - Credit Services4.1%$70M
Specialty Retail3.8%+1.2pp$66M
Medical - Diagnostics & Research3.6%-1.1pp$62M
Residential Construction3.3%-1.4pp$57M
Oil & Gas Equipment & Services3.2%+1.8pp$55M
Country
US90.6%-1.4pp
Unknown5.1%+2.4pp
GB2.6%-0.0pp
UY0.9%+0.1pp
SG0.6%
KY0.1%-0.4pp
Top 5: 13.2% · Top 10: 22.2% · Top 25: 44.2%
Top buys this quarter · 15
| JCAP Jefferson Capital, Inc. Commonnew | +$21M |
| SNEX StoneX Group Inc. | +$19M |
| SE Sea Limitednew | +$11M |
| TRS TriMas Corporationnew | +$9M |
| CLMB Climb Global Solutions, Inc. | +$11M |
| TREE LendingTree, Inc. | +$8M |
| ARCC Ares Capital Corporation | +$7M |
| MRVL Marvell Technology, Inc. | +$6M |
| IIIV i3 Verticals, Inc. | +$6M |
| CASS Cass Information Systems, Inc.new | +$5M |
Top sells this quarter · 15
| PARR Par Pacific Holdings, Inc. | −$20M |
| AMP Ameriprise Financial, Inc. | −$11M |
| GSL Global Ship Lease, Inc. | −$9M |
| HSTM HealthStream, Inc.exit | −$9M |
| ULTA Ulta Beauty, Inc. | −$6M |
| T AT&T Inc.exit | −$6M |
| DE Deere & Company | −$5M |
| ALNT Allient Inc.exit | −$5M |
| FC Franklin Covey Co.exit | −$5M |
| JNJ Johnson & Johnson | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.72B | 161 | +11.21% | +17.59% | -6.38% | +0.06B |
| 2025-12-31 | $1.70B | 154 | +4.92% | +17.72% | -12.80% | +0.01B |
| 2025-09-30 | $1.71B | 158 | +8.85% | +17.52% | -8.67% | -0.01B |
| 2025-06-30 | $1.61B | 159 | +10.30% | +14.94% | -4.64% | -0.02B |
| 2025-03-31 | $1.51B | 160 | -0.85% | +8.30% | -9.16% | -0.17B |
| 2024-12-31 | $1.81B | 163 | +16.74% | +24.89% | -8.15% | -0.01B |
| 2024-09-30 | $1.79B | 163 | +25.68% | +36.04% | -10.36% | -0.05B |
| 2024-06-30 | $1.69B | 170 | +9.56% | +24.49% | -14.93% | +0.01B |
| 2024-03-31 | $1.74B | 171 | +23.96% | +29.62% | -5.67% | -0.10B |
| 2023-12-31 | $1.70B | 226 | +19.04% | +26.18% | -7.14% | -0.01B |
| 2023-09-30 | $1.55B | 227 | +19.62% | +21.57% | -1.95% | +0.01B |
| 2023-06-30 | $1.63B | 232 | +24.97% | +19.42% | +5.54% | -0.06B |
| 2023-03-31 | $1.54B | 227 | -3.94% | -7.82% | +3.88% | -0.06B |
| 2022-12-31 | $1.53B | 220 | -12.25% | -18.17% | +5.93% | -0.05B |
| 2022-09-30 | $1.43B | 220 | -11.96% | -15.51% | +3.55% | +0.02B |
| 2022-06-30 | $1.43B | 235 | -10.41% | -10.62% | +0.21% | -0.05B |