Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.33%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.45%
baseline attrition
Rally response
-14.61%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MIRMirion Technologies, Inc | $13M | 2.2% | +28.2% | 1.5 yr |
| HXLHexcel Corporation | $13M | 2.1% | +49.4% | 6.0 yr |
| FULTFulton Financial Corpora | $11M | 1.8% | +15.9% | 0.8 yr |
| DOCNDigitalOcean Holdings, I | $11M | 1.7% | +156.9% | 0.5 yr |
| AITApplied Industrial Techn | $10M | 1.7% | +18.6% | 3.0 yr |
| SAIASaia, Inc. | $10M | 1.7% | +0.5% | 6.0 yr |
| ALHCAlignment Healthcare, In | $9M | 1.6% | -5.4% | 0.8 yr |
| SMTCSemtech Corporation | $9M | 1.6% | +123.5% | 5.0 yr |
| OSWOneSpaWorld Holdings Lim | $9M | 1.5% | +37.9% | 3.8 yr |
| IMAXIMAX Corporation | $9M | 1.5% | +44.3% | 4.3 yr |
| FLSFlowserve Corporation | $9M | 1.5% | +52.2% | 3.5 yr |
| ANGOAngioDynamics, Inc. | $9M | 1.5% | +21.1% | 1.3 yr |
| CECOCECO Environmental Corp. | $9M | 1.5% | +161.3% | 1.0 yr |
| WMSAdvanced Drainage System | $9M | 1.4% | +26.9% | 2.8 yr |
| AZZAZZ Inc. | $9M | 1.4% | +50.8% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.7%+7.3pp$77M
Aerospace & Defense4.5%+2.1pp$27M
Banks - Regional4.5%-0.5pp$27M
Hardware, Equipment & Parts4.0%+2.7pp$24M
Financial - Capital Markets3.7%+0.2pp$22M
Industrial - Machinery3.7%-1.3pp$22M
Residential Construction3.5%+0.8pp$22M
Medical - Devices3.5%+1.5pp$21M
Biotechnology3.4%-4.0pp$20M
Software - Application3.0%-9.6pp$18M
Country
US87.2%-2.8pp
IL3.9%+2.3pp
CA2.0%-0.0pp
BS1.5%+0.1pp
Unknown1.3%+0.7pp
CR1.3%
GB1.2%+0.5pp
KY1.2%-0.2pp
Top 5: 9.5% · Top 10: 17.4% · Top 25: 38.1%
Top buys this quarter · 15
| ARCB ArcBest Corporationnew | +$8M |
| VIAV Viavi Solutions Inc.new | +$7M |
| SMTC Semtech Corporation | +$6M |
| GLBE Global-e Online Ltd. | +$5M |
| WIX Wix.com Ltd. | +$5M |
| IPGP IPG Photonics Corporationnew | +$5M |
| CYTK Cytokinetics, Incorporatednew | +$5M |
| HASI HA Sustainable Infrastructure new | +$4M |
| ESE ESCO Technologies Inc. | +$4M |
| CGNX Cognex Corporation | +$4M |
Top sells this quarter · 15
| CWAN Clearwater Analytics Holdings,exit | −$16M |
| CAPR Capricor Therapeutics, Inc. | −$14M |
| TSEM Tower Semiconductor Ltd. | −$7M |
| LIND Lindblad Expeditions Holdings, | −$7M |
| MOD Modine Manufacturing Company | −$6M |
| BE Bloom Energy Corporationexit | −$6M |
| AEIS Advanced Energy Industries, In | −$6M |
| GTLB GitLab Inc.exit | −$5M |
| SKYT SkyWater Technology, Inc.exit | −$5M |
| QTWO Q2 Holdings, Inc.exit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $606M | 122 | +34.79% | +17.59% | +17.19% | -0.03B |
| 2025-12-31 | $626M | 125 | +16.23% | +17.72% | -1.49% | -0.07B |
| 2025-09-30 | $640M | 131 | +10.74% | +17.52% | -6.78% | -0.07B |
| 2025-06-30 | $656M | 121 | +6.28% | +14.94% | -8.66% | -0.01B |
| 2025-03-31 | $597M | 116 | -5.25% | +8.30% | -13.56% | -0.02B |
| 2024-12-31 | $701M | 118 | +15.29% | +24.89% | -9.60% | -0.03B |
| 2024-09-30 | $710M | 133 | +23.34% | +36.04% | -12.70% | +0.01B |
| 2024-06-30 | $672M | 127 | +9.07% | +24.49% | -15.42% | -0.05B |
| 2024-03-31 | $727M | 126 | +19.40% | +29.62% | -10.22% | -0.02B |
| 2023-12-31 | $699M | 117 | +26.86% | +26.18% | +0.69% | +0.01B |
| 2023-09-30 | $620M | 118 | +23.72% | +21.57% | +2.15% | -0.02B |
| 2023-06-30 | $697M | 115 | +33.64% | +19.42% | +14.22% | -0.02B |
| 2023-03-31 | $659M | 107 | -4.43% | -7.82% | +3.39% | -0.03B |
| 2022-12-31 | $611M | 104 | +7.95% | +7.56% | +0.39% | -0.02B |
| 2022-09-30 | $582M | 103 | -0.09% | -4.93% | +4.83% | -0.00B |
| 2022-06-30 | $586M | 104 | -22.05% | -16.11% | -5.93% | -0.02B |