Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.53%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.01%
baseline attrition
Rally response
-1.64%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KWYKingsway Corporation | $35M | 36.5% | — | 10.5 yr |
| SFBCSound Financial Bancorp, | $18M | 18.7% | -11.4% | 10.5 yr |
| LSBKLake Shore Bancorp, Inc. | $12M | 12.2% | — | 0.8 yr |
| CPBICentral Plains Bancshare | $6M | 6.5% | +14.7% | 2.5 yr |
| WHLRPWheeler Real Estate Inve | $5M | 5.3% | — | 4.0 yr |
| CLSTCatalyst Bancorp, Inc. | $5M | 4.9% | +42.1% | 4.3 yr |
| FSBWFS Bancorp, Inc. | $3M | 2.9% | +5.1% | 10.5 yr |
| NECBNortheast Community Banc | $3M | 2.7% | +6.3% | 4.8 yr |
| — | $2M | 1.8% | — | 2.8 yr |
| HFBLHome Federal Bancorp, In | $1M | 1.4% | +37.6% | 10.5 yr |
| NBBKNB Bancorp, Inc. Common | $1M | 1.4% | +17.9% | 2.5 yr |
| FDSBFifth District Savings B | $1M | 1.2% | +21.5% | 1.8 yr |
| AVBCAvidia Bancorp, Inc. | $1M | 0.8% | — | 0.8 yr |
| MGYRMagyar Bancorp, Inc. | $1M | 0.7% | +27.0% | 4.8 yr |
| IBRXImmunityBio, Inc. | $1M | 0.6% | +154.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional48.6%-3.8pp$47M
Insurance - Diversified36.5%-1.5pp$35M
Shell Companies6.5%+2.6pp$6M
REIT - Retail5.3%+2.6pp$5M
Unknown1.8%-1.1pp$2M
Biotechnology0.6%$1M
Asset Management0.5%+0.5pp$1M
Insurance - Life0.0%+0.0pp$0M
Country
US98.2%+1.1pp
Unknown1.8%-1.1pp
Top 5: 79.3% · Top 10: 93.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $96M | 24 | +7.01% | +17.59% | -10.58% | -0.02B |
| 2025-12-31 | $111M | 23 | +0.88% | +17.72% | -16.84% | -0.04B |
| 2025-09-30 | $142M | 29 | -4.83% | +17.52% | -22.35% | +0.00B |
| 2025-06-30 | $134M | 29 | +14.18% | +14.94% | -0.76% | +0.02B |
| 2025-03-31 | $119M | 29 | +25.61% | +8.30% | +17.30% | -0.01B |
| 2024-12-31 | $131M | 31 | +31.00% | +24.89% | +6.11% | -0.00B |
| 2024-09-30 | $134M | 31 | +46.10% | +36.04% | +10.07% | -0.02B |
| 2024-06-30 | $128M | 33 | +22.16% | +24.49% | -2.33% | -0.01B |
| 2024-03-31 | $132M | 34 | +16.09% | +29.62% | -13.53% | -0.00B |
| 2023-12-31 | $134M | 33 | +6.49% | +26.18% | -19.69% | +0.00B |
| 2023-09-30 | $119M | 37 | +3.30% | +21.57% | -18.26% | -0.00B |
| 2023-06-30 | $120M | 36 | +0.46% | +19.42% | -18.96% | -0.01B |
| 2023-03-31 | $132M | 38 | -6.60% | -7.82% | +1.22% | +0.01B |
| 2022-12-31 | $133M | 40 | +6.56% | +7.56% | -1.00% | -0.02B |
| 2022-09-30 | $139M | 37 | +0.53% | -4.93% | +5.46% | +0.00B |
| 2022-06-30 | $137M | 38 | -5.68% | -16.11% | +10.43% | +0.00B |