Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+45.19%
adds when stocks drop
when a holding falls −10%+
Middle response
+33.61%
steady accumulation
Rally response
-48.76%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TNKTeekay Tankers Ltd. | $14M | 11.9% | — | 0.5 yr |
| EXEExpand Energy Corporatio | $12M | 10.5% | — | 0.5 yr |
| ARAntero Resources Corpora | $10M | 8.8% | — | 0.3 yr |
| — | $9M | 7.3% | — | 0.5 yr |
| EURNEuronav N.V. | $7M | 6.1% | — | 1.3 yr |
| GNKGenco Shipping & Trading | $7M | 5.6% | — | 0.5 yr |
| HALHalliburton Company | $6M | 5.3% | — | 1.0 yr |
| — | $6M | 4.8% | — | 0.3 yr |
| SLBSLB N.V. | $5M | 4.4% | — | 0.8 yr |
| BKRBaker Hughes Company | $5M | 4.1% | — | 0.3 yr |
| CMDBCostamare Bulkers Holdin | $4M | 3.4% | — | 0.5 yr |
| NESRNational Energy Services | $3M | 3.0% | — | 1.0 yr |
| WFRDWeatherford Internationa | $3M | 2.8% | — | 0.5 yr |
| STNGScorpio Tankers Inc. | $2M | 1.9% | — | 0.5 yr |
| — | $2M | 1.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Marine Shipping21.7%+11.0pp$25M
Oil & Gas Equipment & Services19.7%$23M
Oil & Gas Exploration & Production19.2%$23M
Oil & Gas Midstream14.9%-27.9pp$18M
Unknown14.2%-26.3pp$17M
Steel3.8%$4M
Oil & Gas Refining & Marketing2.6%$3M
Agricultural Farm Products1.6%$2M
Aluminum1.3%$1M
Coal1.1%$1M
Country
US58.4%+47.9pp
Unknown14.2%-26.3pp
CA11.9%
BE6.1%
MC5.3%
BM2.1%-30.2pp
GB1.1%-5.0pp
GR0.6%-10.0pp
Top 5: 44.5% · Top 10: 68.7% · Top 25: 93.5%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| TNK Teekay Tankers Ltd. | +$11M |
| AR Antero Resources Corporationnew | +$10M |
| EXE Expand Energy Corporation | +$6M |
| BKR Baker Hughes Companynew | +$5M |
| HAL Halliburton Company | +$3M |
| LNG Cheniere Energy, Inc.new | +$2M |
| INSW International Seaways, Inc.new | +$1M |
| ADM Archer-Daniels-Midland Company | +$1M |
| STLD Steel Dynamics, Inc. | +$1M |
| VLO Valero Energy Corporationnew | +$1M |
Top sells this quarter · 15
| NESR National Energy Services Reuni | −$11M |
| NE Noble Corporation Plcexit | −$10M |
| SLB SLB N.V. | −$9M |
| NVGS Navigator Holdings Ltd. | −$7M |
| GNK Genco Shipping & Trading Limit | −$6M |
| EE Excelerate Energy, Inc.exit | −$4M |
| GLNG Golar LNG Limited | −$4M |
| FLNG FLEX LNG Ltd. | −$4M |
| HAFN Hafnia Limited | −$3M |
| STNG Scorpio Tankers Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $118M | 42 | +27.14% | -4.37% | +31.51% | -0.00B |
| 2025-12-31 | $96M | 40 | — | — | — | +0.05B |
| 2018-09-30 | $46M | 26 | — | — | — | -0.01B |
| 2018-06-30 | $52M | 23 | — | — | — | -0.02B |
| 2018-03-31 | $76M | 19 | — | — | — | -0.02B |
| 2017-12-31 | $100M | 18 | — | — | — | -0.02B |
| 2017-09-30 | $118M | 18 | — | — | — | -0.03B |
| 2017-06-30 | $153M | 22 | — | — | — | -0.06B |
| 2017-03-31 | $218M | 27 | — | — | — | -0.01B |
| 2016-12-31 | $228M | 28 | — | — | — | +0.03B |
| 2016-09-30 | $199M | 21 | — | — | — | -0.00B |
| 2016-06-30 | $200M | 18 | — | — | — | -0.16B |
| 2016-03-31 | $360M | 21 | — | — | — | -0.17B |
| 2015-12-31 | $533M | 31 | — | — | — | — |