Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.70%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.28%
baseline attrition
Rally response
-30.29%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CZRCaesars Entertainment, I | $4M | 3.1% | +5.7% | 3.0 yr |
| AAPLApple Inc. | $3M | 2.4% | +14.7% | 5.8 yr |
| GOOGLAlphabet Inc. | $3M | 2.1% | — | 5.8 yr |
| AXLAmerican Axle & Manufact | $3M | 2.1% | — | 6.8 yr |
| CLFCleveland-Cliffs Inc. | $3M | 2.0% | +2.8% | 3.8 yr |
| NBRNabors Industries Ltd. | $3M | 2.0% | +106.3% | 3.3 yr |
| MGMMGM Resorts Internationa | $3M | 1.9% | +24.9% | 2.8 yr |
| CASYCasey's General Stores, | $3M | 1.9% | +68.4% | 1.5 yr |
| — | $2M | 1.8% | — | 1.3 yr |
| OGNOrganon & Co. | $2M | 1.7% | -59.4% | 0.3 yr |
| — | $2M | 1.6% | — | 0.8 yr |
| MSFTMicrosoft Corporation | $2M | 1.6% | -0.6% | 7.0 yr |
| MCKMcKesson Corporation | $2M | 1.6% | +29.1% | 2.3 yr |
| ORLYO'Reilly Automotive, Inc | $2M | 1.6% | -3.4% | 2.3 yr |
| QXOQXO, Inc. | $2M | 1.4% | +43.4% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown7.1%-2.8pp$9M
Specialty Retail5.1%-1.3pp$7M
Gambling, Resorts & Casinos5.0%+2.9pp$7M
Auto - Parts3.9%+2.2pp$5M
Internet Content & Information3.4%+2.8pp$5M
Oil & Gas Exploration & Production3.4%+2.5pp$5M
Aerospace & Defense3.1%+0.7pp$4M
Medical - Distribution2.6%+0.5pp$3M
Consumer Electronics2.4%+1.9pp$3M
Steel2.3%-1.1pp$3M
Country
US82.6%+5.5pp
Unknown7.1%-2.8pp
BM3.4%+0.4pp
IE2.2%-0.2pp
CA1.1%-2.2pp
LU1.0%
IT0.9%
IL0.5%+0.3pp
Top 5: 11.8% · Top 10: 21.1% · Top 25: 41.4%
Top buys this quarter · 15
| OGN Organon & Co.new | +$2M |
| NFLX Netflix, Inc. | +$2M |
| CASY Casey's General Stores, Inc. | +$2M |
| MGM MGM Resorts International | +$1M |
| CLF Cleveland-Cliffs Inc. | +$1M |
| TJX The TJX Companies, Inc. | +$1M |
| ACM Aecomnew | +$1M |
| FIVE Five Below, Inc. | +$1M |
| ZGN Ermenegildo Zegna N.V. | +$1M |
| WWD Woodward, Inc.new | +$1M |
Top sells this quarter · 15
| CALM Cal-Maine Foods, Inc. | −$12M |
| OXY Occidental Petroleum Corporati | −$11M |
| JPM JPMorgan Chase & Co. | −$9M |
| OLED Universal Display Corporation | −$7M |
| F-PD Ford Motor Company 6.500% Note | −$6M |
| VZ Verizon Communications Inc.exit | −$6M |
| SNDK Sandisk Corporationexit | −$5M |
| XPO XPO Logistics, Inc.exit | −$4M |
| MU Micron Technology, Inc.exit | −$3M |
| DAR Darling Ingredients Inc.exit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $133M | 192 | +42.87% | +17.59% | +25.28% | -0.06B |
| 2025-12-31 | $186M | 146 | +28.38% | +17.72% | +10.66% | -0.21B |
| 2025-09-30 | $375M | 332 | +9.25% | +17.52% | -8.27% | +0.01B |
| 2025-06-30 | $322M | 282 | +6.60% | +14.94% | -8.35% | +0.05B |
| 2025-03-31 | $239M | 129 | -5.82% | +8.30% | -14.12% | +0.02B |
| 2024-12-31 | $229M | 208 | +9.51% | +24.89% | -15.37% | +0.02B |
| 2024-09-30 | $231M | 180 | +41.93% | +36.04% | +5.89% | -0.02B |
| 2024-06-30 | $227M | 170 | +25.40% | +24.49% | +0.91% | -0.46B |
| 2024-03-31 | $677M | 218 | +36.48% | +29.62% | +6.85% | -0.01B |
| 2023-12-31 | $622M | 193 | +22.21% | +26.18% | -3.97% | +0.01B |
| 2023-09-30 | $526M | 186 | +13.67% | +21.57% | -7.89% | -0.28B |
| 2023-06-30 | $829M | 214 | +7.23% | +19.42% | -12.19% | +0.22B |
| 2023-03-31 | $551M | 172 | -28.61% | -7.82% | -20.79% | -0.01B |
| 2022-12-31 | $565M | 191 | +7.57% | +7.56% | +0.01% | -0.13B |
| 2022-09-30 | $644M | 246 | -8.94% | -4.93% | -4.01% | +0.25B |
| 2022-06-30 | $436M | 191 | -26.42% | -16.11% | -10.31% | +0.06B |