Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-30.25%
trims when stocks drop
when a holding falls −10%+
Middle response
-19.46%
baseline attrition
Rally response
-11.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AEISAdvanced Energy Industri | $14M | 1.7% | +239.4% | 2.8 yr |
| LASRnLIGHT, Inc. | $14M | 1.6% | +633.8% | 1.8 yr |
| TTMITTM Technologies, Inc. | $9M | 1.1% | +375.0% | 3.0 yr |
| VIAVViavi Solutions Inc. | $9M | 1.0% | +197.4% | 2.0 yr |
| AXTIAXT, Inc. | $9M | 1.0% | +3941.1% | 3.5 yr |
| FNFabrinet | $9M | 1.0% | +164.0% | 4.8 yr |
| NXTNextpower Inc. | $9M | 1.0% | +186.1% | 2.0 yr |
| GLNGGolar LNG Limited | $8M | 1.0% | +45.8% | 0.8 yr |
| MOG-AMoog Inc. | $8M | 0.9% | — | 1.8 yr |
| MODModine Manufacturing Com | $8M | 0.9% | +182.4% | 4.0 yr |
| BEBloom Energy Corporation | $8M | 0.9% | +589.2% | 1.3 yr |
| VICRVicor Corporation | $7M | 0.9% | +244.2% | 3.0 yr |
| SPHRSphere Entertainment Co. | $7M | 0.8% | +258.8% | 0.8 yr |
| FORMFormFactor, Inc. | $7M | 0.8% | +242.8% | 2.8 yr |
| MYRGMYR Group Inc. | $7M | 0.8% | +149.6% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology11.9%-3.4pp$103M
Semiconductors8.7%+8.0pp$75M
Hardware, Equipment & Parts6.9%+4.1pp$59M
Aerospace & Defense6.6%+3.6pp$58M
Oil & Gas Equipment & Services5.5%+2.4pp$48M
Unknown4.6%-0.3pp$40M
Engineering & Construction4.3%+4.1pp$38M
Electrical Equipment & Parts4.3%$37M
Communication Equipment3.9%+1.9pp$34M
Industrial - Machinery3.5%+2.7pp$30M
Country
US85.1%-5.0pp
Unknown4.6%-0.3pp
CA3.4%+2.2pp
BM2.1%+0.7pp
IL1.8%+1.5pp
KY1.0%
CH0.9%+0.7pp
MC0.6%
Top 5: 6.4% · Top 10: 11.2% · Top 25: 23.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TTMI | $2M | +0.01B | 375.0% |
| ATRO | $3M | +0.01B | 176.1% |
| BTSG | $3M | +0.00B | 135.5% |
| SEI | $2M | +0.00B | 163.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| FCFS FirstCash Holdings, Incnew | +$6M |
| LBRT Liberty Energy Inc.new | +$5M |
| GLNG Golar LNG Limited | +$5M |
| DOCN DigitalOcean Holdings, Inc. | +$4M |
| DHC Diversified Healthcare Trustnew | +$4M |
| BWA BorgWarner Inc.new | +$4M |
| BW Babcock & Wilcox Enterprises, | +$4M |
| DAN Dana Incorporated | +$4M |
| APA APA Corporationnew | +$4M |
| XENE Xenon Pharmaceuticals Inc.new | +$4M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$9M |
| SNDK Sandisk Corporation | −$9M |
| CRDO Credo Technology Group Holdingexit | −$7M |
| HL Hecla Mining Companyexit | −$7M |
| ZWS Zurn Elkay Water Solutions Corexit | −$7M |
| MDGL Madrigal Pharmaceuticals, Inc.exit | −$7M |
| AMKR Amkor Technology, Inc.exit | −$7M |
| GH Guardant Health, Inc.exit | −$7M |
| TRVI Trevi Therapeutics, Inc.exit | −$6M |
| SPXC SPX Technologies, Inc.exit | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $865M | 272 | +89.42% | +17.59% | +71.82% | -0.16B |
| 2025-12-31 | $898M | 268 | +62.82% | +17.72% | +45.10% | -0.10B |
| 2025-09-30 | $872M | 254 | +60.74% | +17.52% | +43.22% | +0.06B |
| 2025-06-30 | $660M | 220 | +49.58% | +14.94% | +34.64% | -0.02B |
| 2025-03-31 | $578M | 246 | +39.09% | +8.30% | +30.78% | -0.11B |
| 2024-12-31 | $706M | 251 | +58.82% | +24.89% | +33.94% | -0.05B |
| 2024-09-30 | $669M | 239 | +53.47% | +36.04% | +17.43% | -0.04B |
| 2024-06-30 | $615M | 241 | +69.71% | +24.49% | +45.22% | -0.09B |
| 2024-03-31 | $642M | 231 | +67.72% | +29.62% | +38.09% | +0.02B |
| 2023-12-31 | $558M | 231 | +70.87% | +26.18% | +44.69% | -0.00B |
| 2023-09-30 | $518M | 271 | +74.08% | +21.57% | +52.51% | -0.17B |
| 2023-06-30 | $540M | 256 | +47.26% | +19.42% | +27.84% | -0.05B |
| 2023-03-31 | $550M | 269 | +13.59% | -7.82% | +21.40% | -0.00B |
| 2022-12-31 | $483M | 249 | +10.75% | +7.56% | +3.19% | -0.03B |
| 2022-09-30 | $460M | 246 | +7.69% | -4.93% | +12.62% | +0.02B |
| 2022-06-30 | $410M | 245 | -16.62% | -16.11% | -0.51% | -0.04B |