Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.64%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.60%
baseline attrition
Rally response
-21.09%
trims into rallies
when a holding rises +10%+
Top positions · 27
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BHCBausch Health Companies | $187M | 11.1% | -16.5% | 7.8 yr |
| CMCSAComcast Corporation | $187M | 11.1% | — | 1.8 yr |
| MGMMGM Resorts Internationa | $177M | 10.5% | +24.9% | 3.0 yr |
| WAYWaystar Holding Corp. | $107M | 6.4% | -35.5% | 0.8 yr |
| CBRECBRE Group, Inc. | $97M | 5.8% | +3.6% | 0.3 yr |
| NCLHNorwegian Cruise Line Ho | $97M | 5.8% | -1.4% | 2.0 yr |
| JAZZJazz Pharmaceuticals plc | $90M | 5.3% | +52.3% | 0.8 yr |
| ALLYAlly Financial Inc. | $83M | 5.0% | +11.1% | 1.5 yr |
| ESTCElastic N.V. | $71M | 4.2% | -43.9% | 0.5 yr |
| SEASSeaWorld Entertainment, | $67M | 4.0% | — | 4.3 yr |
| REZIResideo Technologies, In | $57M | 3.4% | +90.5% | 0.5 yr |
| ANIPANI Pharmaceuticals, Inc | $51M | 3.1% | +14.9% | 0.3 yr |
| OVVOvintiv Inc. | $49M | 2.9% | +42.6% | 0.5 yr |
| VSNTVVersant Media Group, Inc | $48M | 2.9% | — | 0.3 yr |
| GPORGulfport Energy Corporat | $46M | 2.7% | +14.9% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Drug Manufacturers - Specialty & Generic14.2%-3.2pp$238M
Telecommunications Services13.1%+11.8pp$220M
Gambling, Resorts & Casinos10.5%-2.9pp$177M
Information Technology Services6.4%$107M
Real Estate - Services5.8%$97M
Travel Services5.8%+0.8pp$97M
Oil & Gas Exploration & Production5.6%+2.4pp$95M
Software - Application5.5%+3.7pp$93M
Biotechnology5.3%$90M
Financial - Credit Services5.0%+2.2pp$83M
Country
US80.8%+8.6pp
CA13.6%-6.1pp
IE5.3%+4.2pp
GB0.3%+0.2pp
Top 5: 44.9% · Top 10: 69.2% · Top 25: 99.4%
Top buys this quarter · 15
| CBRE CBRE Group, Inc.new | +$97M |
| WAY Waystar Holding Corp. | +$96M |
| ANIP ANI Pharmaceuticals, Inc.new | +$51M |
| ESTC Elastic N.V. | +$39M |
| ALLY Ally Financial Inc. | +$38M |
| CE Celanese Corporationnew | +$35M |
| TDS Telephone and Data Systems, Innew | +$22M |
| WK Workiva Inc.new | +$21M |
| REZI Resideo Technologies, Inc. | +$14M |
| GPOR Gulfport Energy Corporation | +$14M |
Top sells this quarter · 14
| SOLS Solstice Advanced Materials Inexit | −$74M |
| OVV Ovintiv Inc. | −$44M |
| COF Capital One Financial Corporatexit | −$43M |
| OC Owens Corning | −$38M |
| PFSI PennyMac Financial Services, Iexit | −$20M |
| ASTL Algoma Steel Group Inc.exit | −$10M |
| MPLX MPLX Lp | −$5M |
| NRP Natural Resource Partners L.P.exit | −$4M |
| TIMB TIM S.A.exit | −$2M |
| ET Energy Transfer LP | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.68B | 27 | +18.31% | +17.59% | +0.71% | -0.06B |
| 2025-12-31 | $1.84B | 27 | +8.25% | +17.72% | -9.47% | +0.54B |
| 2025-09-30 | $1.20B | 23 | +1.36% | +17.52% | -16.16% | +0.10B |
| 2025-06-30 | $1.02B | 25 | +13.10% | +14.94% | -1.84% | -0.29B |
| 2025-03-31 | $1.23B | 31 | -3.59% | +8.30% | -11.90% | +0.14B |
| 2024-12-31 | $1.25B | 25 | +29.35% | +24.89% | +4.46% | +0.05B |
| 2024-09-30 | $1.18B | 28 | +47.12% | +36.04% | +11.08% | -0.19B |
| 2024-06-30 | $1.14B | 36 | +23.51% | +24.49% | -0.98% | +0.06B |
| 2024-03-31 | $1.19B | 31 | +50.52% | +29.62% | +20.90% | +0.06B |
| 2023-12-31 | $963M | 27 | +35.72% | +26.18% | +9.54% | -0.13B |
| 2023-09-30 | $948M | 22 | +36.50% | +21.57% | +14.93% | -0.16B |
| 2023-06-30 | $1.10B | 32 | +35.68% | +19.42% | +16.26% | -0.08B |
| 2023-03-31 | $1.07B | 29 | -5.93% | -7.82% | +1.89% | -0.24B |
| 2022-12-31 | $1.25B | 27 | +15.92% | +7.56% | +8.36% | -0.37B |
| 2022-09-30 | $1.40B | 26 | +0.18% | -4.93% | +5.11% | -0.14B |
| 2022-06-30 | $1.54B | 30 | -23.07% | -16.11% | -6.96% | +0.07B |