Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.16%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.06%
steady accumulation
Rally response
-2.84%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NREFNexPoint Real Estate Fin | $127M | 8.9% | +0.8% | 6.3 yr |
| HOLXHologic, Inc. | $117M | 8.1% | +22.4% | 0.8 yr |
| CWANClearwater Analytics Hol | $95M | 6.6% | -11.8% | 0.5 yr |
| SEESealed Air Corporation | $84M | 5.9% | +48.7% | 0.5 yr |
| OSOneStream, Inc. Class A | $81M | 5.6% | +12.5% | 0.3 yr |
| ALAir Lease Corporation | $76M | 5.3% | +36.3% | 0.8 yr |
| CSGSCSG Systems Internationa | $72M | 5.0% | +34.6% | 0.5 yr |
| EAElectronic Arts Inc. | $61M | 4.3% | +41.7% | 0.8 yr |
| MASIMasimo Corporation | $55M | 3.8% | +6.8% | 0.3 yr |
| SEMRSemrush Holdings, Inc. | $55M | 3.8% | +28.0% | 0.5 yr |
| TERNTerns Pharmaceuticals, I | $48M | 3.3% | — | 0.3 yr |
| ACLXArcellx, Inc. | $43M | 3.0% | — | 0.3 yr |
| GTLSChart Industries, Inc. | $38M | 2.7% | +43.2% | 3.3 yr |
| PRAProAssurance Corporation | $35M | 2.4% | +5.9% | 0.8 yr |
| BHFBrighthouse Financial, I | $35M | 2.4% | +3.3% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application16.7%+8.5pp$239M
REIT - Mortgage9.8%-3.1pp$140M
Biotechnology8.5%+8.4pp$122M
Medical - Instruments & Supplies8.2%+8.1pp$118M
Packaging & Containers6.3%+4.4pp$90M
Rental & Leasing Services5.3%+5.3pp$76M
Software - Infrastructure5.1%+0.0pp$73M
Electronic Gaming & Multimedia4.3%$61M
Medical - Devices3.8%$55M
Regulated Electric3.4%+2.7pp$48M
Country
US97.4%+8.0pp
CA1.1%-0.2pp
AR0.8%-3.8pp
Unknown0.3%+0.3pp
AE0.2%
BM0.1%-3.9pp
Top 5: 35.1% · Top 10: 57.3% · Top 25: 87.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TSAT | $11M | +0.01B | 92.2% |
| CEPU | $6M | +0.00B | 51.8% |
| ET | $22M | +0.00B | 12.1% |
| WSR | $13M | +0.00B | 15.4% |
| NREF | $131M | +0.00B | 0.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NXRT | $36M | -0.01B | -32.2% |
Top buys this quarter · 15
| OS OneStream, Inc. Class A Commonnew | +$81M |
| CWAN Clearwater Analytics Holdings, | +$59M |
| MASI Masimo Corporationnew | +$55M |
| HOLX Hologic, Inc. | +$52M |
| CSGS CSG Systems International, Inc | +$38M |
| FOLD Amicus Therapeutics, Inc. | +$29M |
| AL Air Lease Corporation | +$26M |
| SEM Select Medical Holdings Corpornew | +$24M |
| WBD Warner Bros. Discovery, Inc.new | +$24M |
| SEE Sealed Air Corporation | +$23M |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$51M |
| CFLT Confluent, Inc.exit | −$43M |
| VST Vistra Corp.exit | −$11M |
| HESM Hess Midstream LPexit | −$9M |
| PSX Phillips 66exit | −$7M |
| GPRE Green Plains Inc.exit | −$6M |
| IP International Paper Companyexit | −$2M |
| FLR Fluor Corporationexit | −$2M |
| NPB Northpointe Bancshares, Inc.exit | −$2M |
| ET Energy Transfer LP | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.43B | 81 | +14.25% | +17.59% | -3.34% | -0.03B |
| 2025-12-31 | $1.43B | 82 | +9.01% | +17.72% | -8.71% | +0.21B |
| 2025-09-30 | $1.12B | 92 | +5.16% | +17.52% | -12.35% | +0.02B |
| 2025-06-30 | $1.05B | 85 | +12.04% | +14.94% | -2.90% | +0.02B |
| 2025-03-31 | $1.05B | 80 | +16.25% | +8.30% | +7.95% | +0.21B |
| 2024-12-31 | $859M | 89 | +18.21% | +24.89% | -6.67% | -0.02B |
| 2024-09-30 | $832M | 88 | +16.82% | +36.04% | -19.22% | -0.01B |
| 2024-06-30 | $754M | 82 | +8.01% | +24.49% | -16.48% | +0.10B |
| 2024-03-31 | $651M | 84 | +5.41% | +29.62% | -24.21% | -0.00B |
| 2023-12-31 | $657M | 62 | +2.60% | +26.18% | -23.58% | -0.08B |
| 2023-09-30 | $707M | 79 | +3.20% | +21.57% | -18.36% | +0.02B |
| 2023-06-30 | $664M | 96 | -12.81% | +19.42% | -32.23% | -0.24B |
| 2023-03-31 | $913M | 97 | -25.95% | -7.82% | -18.13% | -0.33B |
| 2022-12-31 | $1.28B | 126 | +4.70% | +7.56% | -2.86% | -0.28B |
| 2022-09-30 | $1.49B | 147 | -12.58% | -4.93% | -7.65% | +0.51B |
| 2022-06-30 | $1.12B | 145 | -16.24% | -16.11% | -0.13% | +0.51B |