Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.24%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.07%
steady accumulation
Rally response
-10.01%
trims into rallies
when a holding rises +10%+
Top positions · 8
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VELVelocity Financial, Inc. | $119M | 46.9% | -3.3% | 6.3 yr |
| — | $60M | 23.9% | — | 2.8 yr |
| FSKFS KKR Capital Corp. | $32M | 12.6% | -42.4% | 4.3 yr |
| FOAFinance Of America Compa | $15M | 6.1% | -21.9% | 1.3 yr |
| CTEVClaritev Corporation | $13M | 5.1% | -20.8% | 1.8 yr |
| — | $13M | 5.0% | — | 0.3 yr |
| KREFKKR Real Estate Finance | $1M | 0.3% | -38.2% | 0.5 yr |
| — | $0M | 0.2% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Financial - Mortgages46.9%+3.5pp$119M
Unknown29.0%-5.9pp$73M
Asset Management12.6%$32M
Financial - Credit Services6.1%+1.8pp$15M
Medical - Healthcare Information Services5.1%+1.8pp$13M
REIT - Mortgage0.3%-2.9pp$1M
Country
US71.0%+5.9pp
Unknown29.0%-5.9pp
Top 5: 94.6% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 5
| — new | +$0M |
| FSK FS KKR Capital Corp. | +$31M |
| VEL Velocity Financial, Inc. | +$119M |
| FOA Finance Of America Companies I | +$15M |
| CTEV Claritev Corporation | +$13M |
Top sells this quarter · 2
| — | −$0M |
| KREF KKR Real Estate Finance Trust | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $253M | 8 | -15.13% | +17.59% | -32.72% | +0.06B |
| 2025-12-31 | $253M | 6 | +0.36% | +17.72% | -17.36% | +0.03B |
| 2025-09-30 | $215M | 9 | -3.03% | +17.52% | -20.55% | -0.02B |
| 2025-06-30 | $235M | 8 | +6.09% | +14.94% | -8.85% | -0.01B |
| 2025-03-31 | $237M | 8 | +2.23% | +8.30% | -6.07% | +0.02B |
| 2024-12-31 | $239M | 7 | +12.83% | +24.89% | -12.06% | -0.02B |
| 2024-09-30 | $253M | 7 | +62.71% | +36.04% | +26.67% | -0.04B |
| 2024-06-30 | $266M | 9 | +39.24% | +24.49% | +14.75% | -0.02B |
| 2024-03-31 | $286M | 11 | +68.76% | +29.62% | +39.14% | +0.04B |
| 2023-12-31 | $251M | 12 | +66.69% | +26.18% | +40.52% | +0.00B |
| 2023-09-30 | $169M | 12 | +14.42% | +21.57% | -7.14% | +0.02B |
| 2023-06-30 | $158M | 13 | +6.52% | +19.42% | -12.90% | -0.01B |
| 2023-03-31 | $141M | 12 | -21.53% | -7.82% | -13.71% | -0.02B |
| 2022-12-31 | $168M | 12 | +1.17% | +7.56% | -6.39% | -0.06B |
| 2022-09-30 | $228M | 17 | -11.05% | -4.93% | -6.12% | -0.13B |
| 2022-06-30 | $407M | 16 | -11.12% | -16.11% | +4.99% | -0.10B |