Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.14%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.85%
baseline attrition
Rally response
-21.06%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $82M | 7.2% | — | 1.0 yr |
| AMZNAmazon.com, Inc. | $77M | 6.8% | +9.5% | 2.5 yr |
| FLEXFlex Ltd. | $65M | 5.7% | +97.9% | 4.3 yr |
| MKSIMKS Inc. | $57M | 5.1% | +188.8% | 0.8 yr |
| HQYHealthEquity, Inc. | $52M | 4.6% | -5.4% | 0.3 yr |
| PRMBPrimo Brands Corporation | $51M | 4.5% | -45.9% | 0.8 yr |
| BKDBrookdale Senior Living | $49M | 4.3% | +118.5% | 0.5 yr |
| PRCHPorch Group, Inc. | $37M | 3.2% | -1.6% | 3.5 yr |
| CCOICogent Communications Ho | $36M | 3.2% | -67.6% | 0.8 yr |
| OPLNOPENLANE, Inc. | $36M | 3.2% | +51.2% | 0.3 yr |
| BDXBecton, Dickinson and Co | $36M | 3.2% | +14.0% | 0.5 yr |
| ZZillow Group, Inc. Class | $36M | 3.1% | -39.6% | 2.3 yr |
| ENVAEnova International, Inc | $33M | 3.0% | +40.7% | 1.3 yr |
| SMTCSemtech Corporation | $30M | 2.6% | +123.5% | 0.3 yr |
| CNKCinemark Holdings, Inc. | $29M | 2.6% | +16.0% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts10.8%+9.6pp$122M
Internet Content & Information10.4%+1.0pp$118M
Specialty Retail8.7%+5.0pp$99M
Medical - Care Facilities5.3%+2.3pp$60M
Semiconductors5.2%+1.8pp$59M
Medical - Healthcare Information Services4.6%+1.9pp$52M
Medical - Instruments & Supplies4.6%$52M
Beverages - Non-Alcoholic4.5%$51M
Software - Infrastructure4.0%-1.8pp$45M
Auto - Dealerships3.8%-5.9pp$43M
Country
US86.4%+10.0pp
SG5.7%+4.6pp
Unknown3.3%-6.6pp
KR1.9%
IE1.5%-1.9pp
CA1.0%
KY0.3%-1.1pp
Top 5: 29.5% · Top 10: 48.0% · Top 25: 81.8%
Top buys this quarter · 15
| HQY HealthEquity, Inc.new | +$52M |
| BKD Brookdale Senior Living Inc. | +$39M |
| OPLN OPENLANE, Inc.new | +$36M |
| SMTC Semtech Corporationnew | +$30M |
| PRMB Primo Brands Corporation | +$28M |
| GEO The GEO Group, Inc.new | +$24M |
| KEX Kirby Corporation | +$19M |
| TFX Teleflex Incorporatednew | +$15M |
| FPS Forgent Power Solutions, Inc.new | +$15M |
| AMZN Amazon.com, Inc. | +$15M |
Top sells this quarter · 15
| TTMI TTM Technologies, Inc.exit | −$53M |
| VERX Vertex, Inc.exit | −$22M |
| LAD Lithia Motors, Inc. | −$19M |
| ALV Autoliv, Inc.exit | −$18M |
| BTSG BrightSpring Health Services, exit | −$13M |
| CNK Cinemark Holdings, Inc. | −$12M |
| MCY Mercury General Corporation | −$12M |
| UTI Universal Technical Institute, | −$10M |
| WDC Western Digital Corporation | −$19M |
| Z Zillow Group, Inc. Class C | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.13B | 48 | +27.95% | +17.59% | +10.36% | -0.01B |
| 2025-12-31 | $1.19B | 47 | +25.03% | +17.72% | +7.31% | +0.06B |
| 2025-09-30 | $1.09B | 43 | +21.94% | +17.52% | +4.42% | -0.31B |
| 2025-06-30 | $1.31B | 42 | +26.74% | +14.94% | +11.79% | -0.18B |
| 2025-03-31 | $1.22B | 46 | +8.49% | +8.30% | +0.19% | +0.12B |
| 2024-12-31 | $1.18B | 41 | +49.31% | +24.89% | +24.42% | -0.18B |
| 2024-09-30 | $1.35B | 41 | +65.33% | +36.04% | +29.29% | -0.07B |
| 2024-06-30 | $1.28B | 38 | +37.01% | +24.49% | +12.51% | -0.11B |
| 2024-03-31 | $1.33B | 40 | +46.85% | +29.62% | +17.23% | +0.02B |
| 2023-12-31 | $1.02B | 39 | +25.08% | +26.18% | -1.10% | -0.19B |
| 2023-09-30 | $1.09B | 39 | +9.68% | +21.57% | -11.89% | +0.04B |
| 2023-06-30 | $1.14B | 35 | +26.58% | +19.42% | +7.16% | -0.07B |
| 2023-03-31 | $1.09B | 38 | -13.31% | -7.82% | -5.49% | -0.00B |
| 2022-12-31 | $997M | 43 | -2.60% | +7.56% | -10.16% | -0.22B |
| 2022-09-30 | $1.25B | 57 | +6.12% | -4.93% | +11.05% | -0.50B |
| 2022-06-30 | $1.64B | 68 | -23.53% | -16.11% | -7.42% | -0.50B |