Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-13.20%
trims when stocks drop
when a holding falls −10%+
Middle response
-23.22%
baseline attrition
Rally response
-21.73%
trims into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SNAPSnap Inc. | $10M | 21.4% | -47.2% | 3.0 yr |
| OPENOpendoor Technologies In | $8M | 16.4% | +358.8% | 0.5 yr |
| NNNextNav Inc. | $7M | 15.0% | +31.6% | 2.5 yr |
| JBLUJetBlue Airways Corporat | $4M | 8.1% | -8.3% | 2.0 yr |
| PTONPeloton Interactive, Inc | $3M | 6.8% | -32.1% | 3.3 yr |
| ELYCallaway Golf Company | $2M | 4.4% | — | 1.5 yr |
| ULCCFrontier Group Holdings, | $2M | 4.1% | -18.7% | 1.0 yr |
| FRMIFermi Inc. Common Stock | $2M | 3.6% | — | 0.3 yr |
| — | $2M | 3.3% | — | 0.5 yr |
| AALAmerican Airlines Group | $2M | 3.3% | +1.8% | 0.5 yr |
| GPROGoPro, Inc. | $1M | 3.0% | +16.2% | 6.0 yr |
| HEARTurtle Beach Corporation | $1M | 2.5% | — | 1.3 yr |
| GRPNGroupon, Inc. | $1M | 2.2% | -36.6% | 6.0 yr |
| CWHCamping World Holdings, | $1M | 1.9% | -56.6% | 1.0 yr |
| COTYCoty Inc. | $1M | 1.8% | -63.3% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information38.6%-1.3pp$18M
Real Estate - Services16.4%$8M
Airlines, Airports & Air Services15.5%+5.0pp$7M
Leisure11.2%-0.0pp$5M
Consumer Electronics5.5%+3.7pp$3M
Unknown4.0%+3.4pp$2M
Regulated Electric3.6%$2M
Household & Personal Products2.7%$1M
Auto - Dealerships1.9%$1M
Specialty Retail0.7%-8.3pp$0M
Country
US96.0%-3.4pp
Unknown4.0%+3.4pp
Top 5: 67.7% · Top 10: 86.4% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $46M | 23 | -11.99% | +17.59% | -29.58% | -0.00B |
| 2025-12-31 | $63M | 24 | -3.65% | +17.72% | -21.37% | +0.00B |
| 2025-09-30 | $65M | 18 | +31.39% | +17.52% | +13.87% | +0.00B |
| 2025-06-30 | $60M | 31 | +27.17% | +14.94% | +12.23% | -0.01B |
| 2025-03-31 | $57M | 27 | +8.39% | +8.30% | +0.09% | +0.01B |
| 2024-12-31 | $58M | 22 | -11.75% | +24.89% | -36.64% | +0.00B |
| 2024-09-30 | $45M | 27 | -11.42% | +36.04% | -47.46% | +0.00B |
| 2024-06-30 | $43M | 22 | +13.48% | +24.49% | -11.01% | +0.00B |
| 2024-03-31 | $42M | 21 | +37.15% | +29.62% | +7.52% | +0.01B |
| 2023-12-31 | $43M | 21 | +79.76% | +26.18% | +53.58% | +0.00B |
| 2023-09-30 | $33M | 20 | +42.46% | +21.57% | +20.89% | -0.01B |
| 2023-06-30 | $31M | 21 | -6.84% | +19.42% | -26.26% | -0.02B |
| 2023-03-31 | $47M | 24 | -45.12% | -7.82% | -37.30% | -0.04B |
| 2022-12-31 | $92M | 26 | +1.44% | +7.56% | -6.12% | -0.04B |
| 2022-09-30 | $135M | 22 | -16.75% | -4.93% | -11.82% | -0.07B |
| 2022-06-30 | $245M | 20 | -29.77% | -16.11% | -13.66% | -0.05B |