Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.65%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.96%
baseline attrition
Rally response
-9.80%
trims into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MTRNMaterion Corporation | $48M | 11.6% | +78.2% | 4.0 yr |
| SYNASynaptics Incorporated | $46M | 11.0% | +9.9% | 5.3 yr |
| EXTRExtreme Networks, Inc. | $43M | 10.3% | +14.0% | 2.5 yr |
| NPOEnPro Industries, Inc. | $43M | 10.2% | +55.8% | 3.0 yr |
| THRMGentherm Incorporated | $37M | 9.0% | +3.9% | 10.0 yr |
| SONOSonos, Inc. | $33M | 8.0% | +25.6% | 7.3 yr |
| HLITHarmonic Inc. | $29M | 6.9% | -6.4% | 5.0 yr |
| HAYWHayward Holdings, Inc. | $29M | 6.8% | -3.9% | 2.0 yr |
| MDXGMiMedx Group, Inc. | $28M | 6.8% | -48.0% | 2.3 yr |
| RDVTRed Violet, Inc. | $21M | 5.0% | -8.0% | 5.5 yr |
| BBSIBarrett Business Service | $21M | 5.0% | -28.4% | 1.3 yr |
| OOMAOoma, Inc. | $13M | 3.2% | +11.2% | 6.0 yr |
| TTGTTechTarget, Inc. | $13M | 3.2% | -73.8% | 1.5 yr |
| CNMCore & Main, Inc. | $8M | 1.9% | +2.3% | 0.8 yr |
| AMPLAmplitude, Inc. | $3M | 0.6% | -33.1% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Communication Equipment17.2%+5.4pp$72M
Industrial Materials11.6%+2.0pp$48M
Semiconductors11.0%+0.4pp$46M
Industrial - Machinery10.2%+3.6pp$43M
Auto - Parts9.0%+0.3pp$37M
Consumer Electronics8.0%-0.3pp$33M
Electrical Equipment & Parts6.8%+2.6pp$29M
Biotechnology6.8%-1.7pp$28M
Software - Application5.6%-1.0pp$24M
Staffing & Employment Services5.0%$21M
Country
US100.0%+0.0pp
Top 5: 52.0% · Top 10: 85.5% · Top 25: 100.0%
Top buys this quarter · 8
| EXTR Extreme Networks, Inc. | +$8M |
| MDXG MiMedx Group, Inc. | +$28M |
| CNM Core & Main, Inc. | +$4M |
| HAYW Hayward Holdings, Inc. | +$29M |
| AMPL Amplitude, Inc.new | +$3M |
| BBSI Barrett Business Services, Inc | +$21M |
| AVNS Avanos Medical, Inc.new | +$1M |
| RDVT Red Violet, Inc. | +$21M |
Top sells this quarter · 10
| MTRN Materion Corporation | −$18M |
| OOMA Ooma, Inc. | −$15M |
| HCKT The Hackett Group, Inc.exit | −$7M |
| TTGT TechTarget, Inc. | −$5M |
| THRM Gentherm Incorporated | −$3M |
| SYNA Synaptics Incorporated | −$3M |
| ANIK Anika Therapeutics, Inc.exit | −$2M |
| NPO EnPro Industries, Inc. | −$38M |
| SONO Sonos, Inc. | −$1M |
| HLIT Harmonic Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $418M | 17 | -1.65% | +17.59% | -19.24% | -0.03B |
| 2025-12-31 | $508M | 17 | -7.20% | +17.72% | -24.91% | -0.04B |
| 2025-09-30 | $552M | 17 | -4.12% | +17.52% | -21.63% | -0.10B |
| 2025-06-30 | $576M | 16 | -13.81% | +14.94% | -28.75% | -0.09B |
| 2025-03-31 | $680M | 16 | -19.57% | +8.30% | -27.88% | -0.05B |
| 2024-12-31 | $870M | 18 | -3.44% | +24.89% | -28.33% | -0.07B |
| 2024-09-30 | $913M | 20 | +7.95% | +36.04% | -28.09% | -0.06B |
| 2024-06-30 | $956M | 20 | -10.12% | +24.49% | -34.61% | +0.02B |
| 2024-03-31 | $1.03B | 20 | -3.59% | +29.62% | -33.21% | -0.00B |
| 2023-12-31 | $1.03B | 18 | +5.34% | +26.18% | -20.84% | -0.05B |
| 2023-09-30 | $938M | 20 | +4.07% | +21.57% | -17.50% | +0.06B |
| 2023-06-30 | $1.04B | 23 | +15.80% | +19.42% | -3.62% | +0.02B |
| 2023-03-31 | $1.04B | 19 | -8.49% | -7.82% | -0.67% | -0.05B |
| 2022-12-31 | $998M | 21 | +14.13% | +7.56% | +6.57% | +0.00B |
| 2022-09-30 | $871M | 21 | -5.20% | -4.93% | -0.27% | +0.06B |
| 2022-06-30 | $858M | 19 | -22.67% | -16.11% | -6.55% | +0.10B |