Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.56%
baseline attrition
Rally response
-15.50%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NOVNOV Inc. | $95M | 24.1% | +28.4% | 0.8 yr |
| LEALear Corporation | $78M | 19.9% | +41.3% | 1.3 yr |
| CBChubb Limited | $58M | 14.6% | +9.3% | 3.0 yr |
| DISThe Walt Disney Company | $57M | 14.6% | -1.3% | 2.8 yr |
| ALLYAlly Financial Inc. | $50M | 12.6% | +11.1% | 2.8 yr |
| ARWArrow Electronics, Inc. | $45M | 11.5% | +38.1% | 2.3 yr |
| PBR-APetróleo Brasileiro S.A | $2M | 0.4% | — | 10.3 yr |
| BVNCompañÃa de Minas Buen | $2M | 0.4% | +136.6% | 10.3 yr |
| ABEVAmbev S.A. | $1M | 0.3% | +34.6% | 2.3 yr |
| CXCEMEX, S.A.B. de C.V. | $1M | 0.3% | +106.1% | 1.3 yr |
| TXTernium S.A. | $1M | 0.2% | +40.9% | 9.8 yr |
| ALGTAllegiant Travel Company | $1M | 0.2% | +56.9% | 5.0 yr |
| PYPLPayPal Holdings, Inc. | $1M | 0.2% | -30.3% | 0.3 yr |
| ATHMAutohome Inc. | $1M | 0.2% | -32.6% | 2.8 yr |
| OIIOceaneering Internationa | $1M | 0.2% | +62.6% | 9.3 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Equipment & Services24.3%+24.1pp$96M
Auto - Parts19.9%+4.1pp$78M
Insurance - Property & Casualty14.6%-3.6pp$58M
Entertainment14.6%-1.1pp$57M
Financial - Credit Services12.8%+12.6pp$50M
Technology Distributors11.5%+1.5pp$45M
Oil & Gas Integrated0.4%-1.8pp$2M
Other Precious Metals0.4%-1.9pp$2M
Beverages - Alcoholic0.4%-1.9pp$1M
Construction Materials0.3%-1.2pp$1M
Country
US83.5%+17.8pp
CH14.6%-3.6pp
BR0.7%-5.8pp
PE0.4%-1.9pp
MX0.3%-1.5pp
LU0.2%-1.4pp
CN0.2%-1.0pp
IN0.1%-1.4pp
Top 5: 85.8% · Top 10: 98.7% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $393M | 18 | +29.50% | +17.59% | +11.91% | +0.01B |
| 2025-12-31 | $353M | 19 | +21.85% | +17.72% | +4.14% | -0.00B |
| 2025-09-30 | $320M | 20 | +9.22% | +17.52% | -8.30% | +0.03B |
| 2025-06-30 | $291M | 19 | +18.74% | +14.94% | +3.80% | -0.08B |
| 2025-03-31 | $342M | 25 | +1.48% | +8.30% | -6.82% | -0.01B |
| 2024-12-31 | $345M | 29 | +13.33% | +24.89% | -11.55% | -0.12B |
| 2024-09-30 | $473M | 30 | +31.49% | +36.04% | -4.55% | -0.11B |
| 2024-06-30 | $529M | 29 | +10.77% | +24.49% | -13.72% | -0.16B |
| 2024-03-31 | $742M | 30 | +24.00% | +29.62% | -5.62% | -0.08B |
| 2023-12-31 | $729M | 28 | +15.55% | +26.18% | -10.63% | -0.02B |
| 2023-09-30 | $649M | 22 | +15.03% | +21.57% | -6.54% | +0.05B |
| 2023-06-30 | $645M | 22 | +9.56% | +19.42% | -9.87% | -0.01B |
| 2023-03-31 | $630M | 23 | -14.65% | -7.82% | -6.83% | +0.03B |
| 2022-12-31 | $567M | 25 | +14.28% | +7.56% | +6.72% | -0.01B |
| 2022-09-30 | $505M | 25 | -11.94% | -4.93% | -7.01% | -0.11B |
| 2022-06-30 | $697M | 24 | -19.34% | -16.11% | -3.23% | -0.05B |