Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.71%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.64%
baseline attrition
Rally response
-9.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GRBKGreen Brick Partners, In | $610M | 19.1% | +10.5% | 2.3 yr |
| FLRFluor Corporation | $221M | 6.9% | +30.2% | 1.0 yr |
| CNRCore Natural Resources, | $195M | 6.1% | +36.6% | 1.3 yr |
| BHFBrighthouse Financial, I | $170M | 5.3% | +3.3% | 2.3 yr |
| PCGPG&E Corporation | $117M | 3.7% | +2.9% | 0.8 yr |
| VSNTVVersant Media Group, Inc | $112M | 3.5% | — | 0.3 yr |
| ACHCAcadia Healthcare Compan | $106M | 3.3% | -22.9% | 1.5 yr |
| VSCOVictoria's Secret & Co. | $105M | 3.3% | +149.5% | 1.0 yr |
| DHTDHT Holdings, Inc. | $96M | 3.0% | +87.2% | 2.3 yr |
| PENNPENN Entertainment, Inc. | $91M | 2.8% | -7.8% | 2.3 yr |
| GPKGraphic Packaging Holdin | $90M | 2.8% | -60.6% | 2.3 yr |
| CNCCentene Corporation | $89M | 2.8% | -46.1% | 1.5 yr |
| TEVATeva Pharmaceutical Indu | $88M | 2.7% | +96.0% | 2.3 yr |
| CPRICapri Holdings Limited | $87M | 2.7% | -10.7% | 2.0 yr |
| SNXTD SYNNEX Corporation | $81M | 2.5% | +64.5% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Residential Construction19.1%-8.8pp$610M
Engineering & Construction6.9%$221M
Coal6.1%-2.5pp$195M
Insurance - Life5.3%-2.9pp$170M
Entertainment4.6%$148M
Regulated Electric3.7%$117M
Medical - Healthcare Plans3.5%+1.9pp$113M
Drug Manufacturers - Specialty & Generic3.5%+0.4pp$112M
Oil & Gas Exploration & Production3.5%$111M
Medical - Care Facilities3.3%+3.1pp$106M
Country
US84.7%+9.3pp
GB6.0%-5.2pp
IL3.0%+2.6pp
BM3.0%-0.5pp
Unknown2.7%-2.3pp
BE0.5%-0.2pp
Top 5: 41.1% · Top 10: 57.1% · Top 25: 87.6%
Top buys this quarter · 15
| SNX TD SYNNEX Corporation | +$71M |
| CROX Crocs, Inc.new | +$56M |
| REZI Resideo Technologies, Inc.new | +$53M |
| SLM SLM Corporationnew | +$45M |
| PTON Peloton Interactive, Inc. | +$42M |
| BKV BKV Corporation | +$40M |
| PSKY Paramount Skydance Corporationnew | +$35M |
| VSCO Victoria's Secret & Co. | +$24M |
| SHC Sotera Health Company | +$23M |
| DECK Deckers Outdoor Corporation | +$18M |
Top sells this quarter · 15
| WFRD Weatherford International plc | −$57M |
| VTRS Viatris Inc. | −$57M |
| KD Kyndryl Holdings, Inc.exit | −$50M |
| WBD Warner Bros. Discovery, Inc.exit | −$42M |
| DHT DHT Holdings, Inc. | −$90M |
| FLR Fluor Corporation | −$220M |
| GPN Global Payments Inc.exit | −$30M |
| CNR Core Natural Resources, Inc. | −$186M |
| PCG PG&E Corporation | −$20M |
| AR Antero Resources Corporation | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.19B | 45 | +16.06% | +17.59% | -1.54% | +0.26B |
| 2025-12-31 | $2.85B | 41 | +6.00% | +17.72% | -11.72% | +0.31B |
| 2025-09-30 | $2.54B | 37 | -6.30% | +17.52% | -23.81% | +0.06B |
| 2025-06-30 | $2.33B | 34 | +5.23% | +14.94% | -9.72% | +0.24B |
| 2025-03-31 | $1.97B | 33 | -2.59% | +8.30% | -10.89% | +0.15B |
| 2024-12-31 | $1.94B | 36 | -11.52% | +2.49% | -14.01% | -0.18B |
| 2024-09-30 | $2.40B | 38 | +19.94% | +5.75% | +14.19% | -0.05B |
| 2024-06-30 | $2.04B | 39 | -2.21% | +4.38% | -6.59% | -0.09B |
| 2024-03-31 | $2.18B | 42 | — | — | — | — |