Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.63%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.69%
baseline attrition
Rally response
-16.59%
trims into rallies
when a holding rises +10%+
Top positions · 16
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BTSGBrightSpring Health Serv | $1.78B | 34.9% | +135.5% | 2.3 yr |
| HSICHenry Schein, Inc. | $1.15B | 22.6% | +7.6% | 1.3 yr |
| BBIOBridgeBio Pharma, Inc. | $985M | 19.3% | +114.8% | 7.0 yr |
| CRGYCrescent Energy Company | $387M | 7.6% | +26.2% | 3.8 yr |
| — | $341M | 6.7% | — | 0.8 yr |
| BVBrightView Holdings, Inc | $258M | 5.0% | -8.2% | 7.8 yr |
| KREFKKR Real Estate Finance | $61M | 1.2% | -38.2% | 8.8 yr |
| PSKYParamount Skydance Corpo | $50M | 1.0% | — | 0.8 yr |
| OXLCOxford Lane Capital Corp | $31M | 0.6% | — | 0.3 yr |
| BHCBausch Health Companies | $28M | 0.6% | -16.5% | 6.0 yr |
| FSKFS KKR Capital Corp. | $10M | 0.2% | -42.4% | 6.0 yr |
| TEMTempus AI, Inc. | $5M | 0.1% | -6.3% | 0.8 yr |
| NCLHNorwegian Cruise Line Ho | $5M | 0.1% | -1.4% | 1.3 yr |
| CHRSCoherus Oncology, Inc. | $5M | 0.1% | +109.4% | 9.8 yr |
| VSECUVSE Corporation Tangible | $0M | 0.0% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Healthcare Information Services35.0%-8.3pp$1.79B
Medical - Distribution22.6%+1.4pp$1.15B
Biotechnology19.4%+2.2pp$990M
Oil & Gas Exploration & Production7.6%+7.4pp$387M
Unknown6.7%+6.1pp$341M
Specialty Business Services5.0%-6.0pp$258M
REIT - Mortgage1.2%-1.6pp$61M
Entertainment1.0%-0.6pp$50M
Asset Management0.8%+0.3pp$42M
Drug Manufacturers - Specialty & Generic0.6%-0.3pp$28M
Country
US92.8%-5.8pp
Unknown6.7%+6.1pp
CA0.6%-0.3pp
Top 5: 91.1% · Top 10: 99.5% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.10B | 16 | +69.03% | +17.59% | +51.44% | -1.10B |
| 2025-12-31 | $5.87B | 14 | +66.90% | +17.72% | +49.18% | -0.76B |
| 2025-09-30 | $5.56B | 15 | +40.08% | +17.52% | +22.56% | +0.77B |
| 2025-06-30 | $4.36B | 12 | +49.61% | +14.94% | +34.67% | -0.37B |
| 2025-03-31 | $3.88B | 13 | +18.18% | +8.30% | +9.88% | +0.61B |
| 2024-12-31 | $3.13B | 10 | +14.34% | +24.89% | -10.55% | -3.72B |
| 2024-09-30 | $6.84B | 13 | +45.36% | +36.04% | +9.33% | +3.73B |
| 2024-06-30 | $2.66B | 14 | +64.06% | +24.49% | +39.57% | -0.48B |
| 2024-03-31 | $3.25B | 15 | +123.91% | +29.62% | +94.29% | +0.38B |
| 2023-12-31 | $2.84B | 17 | +193.13% | +26.18% | +166.95% | -0.20B |
| 2023-09-30 | $2.39B | 19 | +75.23% | +21.57% | +53.66% | -1.36B |
| 2023-06-30 | $2.83B | 25 | -6.07% | +19.42% | -25.50% | -1.08B |
| 2023-03-31 | $2.97B | 35 | -49.33% | -7.82% | -41.51% | -0.51B |
| 2022-12-31 | $2.63B | 80 | -23.99% | +7.56% | -31.55% | -0.94B |
| 2022-09-30 | $4.70B | 174 | -29.06% | -4.93% | -24.13% | -0.40B |
| 2022-06-30 | $7.18B | 222 | -28.98% | -16.11% | -12.86% | -0.38B |