Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.49%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.24%
baseline attrition
Rally response
-8.66%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LFUSLittelfuse, Inc. | $100M | 2.6% | +74.5% | 6.8 yr |
| MSAMSA Safety Incorporated | $100M | 2.6% | +13.2% | 10.5 yr |
| VVVValvoline Inc. | $99M | 2.5% | -3.2% | 3.0 yr |
| SWXSouthwest Gas Holdings, | $96M | 2.5% | +24.9% | 4.5 yr |
| TKRThe Timken Company | $94M | 2.4% | +42.3% | 5.0 yr |
| CDPCOPT Defense Properties | $91M | 2.3% | +15.9% | 10.5 yr |
| MGRCMcGrath RentCorp | $90M | 2.3% | +0.7% | 1.3 yr |
| FAFFirst American Financial | $89M | 2.3% | -4.9% | 7.5 yr |
| COLBColumbia Banking System, | $88M | 2.3% | +16.1% | 2.3 yr |
| PSNParsons Corporation | $87M | 2.2% | -8.5% | 3.3 yr |
| OSWOneSpaWorld Holdings Lim | $87M | 2.2% | +37.9% | 3.5 yr |
| WTFCWintrust Financial Corpo | $85M | 2.2% | +25.5% | 4.8 yr |
| AMGAffiliated Managers Grou | $84M | 2.1% | +64.7% | 8.5 yr |
| BCBrunswick Corporation | $82M | 2.1% | +38.7% | 5.5 yr |
| GTESGates Industrial Corpora | $82M | 2.1% | +22.8% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional10.8%-0.8pp$423M
Industrial - Machinery9.2%+1.0pp$359M
Hardware, Equipment & Parts4.6%+1.0pp$181M
Unknown4.6%+0.2pp$180M
Security & Protection Services4.4%-0.1pp$173M
Asset Management4.2%-0.5pp$166M
Chemicals - Specialty4.0%+1.6pp$156M
Regulated Gas4.0%+1.7pp$155M
Rental & Leasing Services3.6%-0.5pp$141M
Semiconductors3.3%+0.9pp$127M
Country
US93.2%-0.8pp
Unknown4.6%+0.2pp
BS2.2%+0.6pp
Top 5: 12.5% · Top 10: 23.9% · Top 25: 54.9%
Top buys this quarter · 15
| OSIS OSI Systems, Inc.new | +$71M |
| MOD Modine Manufacturing Companynew | +$71M |
| MC Moelis & Company | +$61M |
| BDC Belden Inc. | +$34M |
| SWX Southwest Gas Holdings, Inc. | +$16M |
| INDB Independent Bank Corp. | +$15M |
| CTRI Centuri Holdings, Inc. | +$14M |
| OSW OneSpaWorld Holdings Limited | +$13M |
| NXST Nexstar Media Group, Inc. | +$12M |
| KMB Kimberly-Clark Corporationnew | +$8M |
Top sells this quarter · 15
| MKSI MKS Inc. | −$112M |
| FORM FormFactor, Inc. | −$96M |
| EVR Evercore Inc. | −$57M |
| SF Stifel Financial Corp. | −$44M |
| CRC California Resources Corporati | −$71M |
| ONTO Onto Innovation Inc. | −$33M |
| SPXC SPX Technologies, Inc.exit | −$31M |
| TKR The Timken Company | −$25M |
| AEIS Advanced Energy Industries, In | −$62M |
| WAB Westinghouse Air Brake Technolexit | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.91B | 108 | +34.04% | +17.59% | +16.45% | -0.19B |
| 2025-12-31 | $3.89B | 106 | +15.82% | +17.72% | -1.89% | -0.07B |
| 2025-09-30 | $3.80B | 108 | +10.77% | +17.52% | -6.75% | -0.17B |
| 2025-06-30 | $3.60B | 105 | +8.98% | +14.94% | -5.96% | -0.07B |
| 2025-03-31 | $3.31B | 105 | -5.66% | +8.30% | -13.97% | -0.10B |
| 2024-12-31 | $3.75B | 107 | +12.78% | +24.89% | -12.11% | -0.15B |
| 2024-09-30 | $3.91B | 108 | +26.03% | +36.04% | -10.00% | -0.04B |
| 2024-06-30 | $3.64B | 106 | +12.29% | +24.49% | -12.20% | +0.07B |
| 2024-03-31 | $3.73B | 107 | +28.80% | +29.62% | -0.83% | +0.04B |
| 2023-12-31 | $3.39B | 108 | +23.70% | +26.18% | -2.47% | +0.01B |
| 2023-09-30 | $3.03B | 151 | +23.21% | +21.57% | +1.65% | -0.11B |
| 2023-06-30 | $3.26B | 156 | +17.98% | +19.42% | -1.44% | -0.16B |
| 2023-03-31 | $3.11B | 111 | -10.34% | -7.82% | -2.52% | -0.18B |
| 2022-12-31 | $3.15B | 108 | +10.94% | +7.56% | +3.38% | -0.06B |
| 2022-09-30 | $2.89B | 106 | -7.45% | -4.93% | -2.53% | +0.06B |
| 2022-06-30 | $3.06B | 107 | -16.50% | -16.11% | -0.39% | +0.23B |