Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.08%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.45%
baseline attrition
Rally response
-2.11%
trims into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVRIEnviri Corporation | $41M | 21.5% | +195.0% | 1.8 yr |
| MGMistras Group, Inc. | $28M | 14.5% | +39.7% | 5.5 yr |
| ALTGAlta Equipment Group Inc | $23M | 12.3% | +15.7% | 5.3 yr |
| GOGrocery Outlet Holding C | $17M | 8.8% | -49.6% | 1.0 yr |
| BZHBeazer Homes USA, Inc. | $16M | 8.5% | -5.6% | 2.0 yr |
| — | $7M | 3.9% | — | 7.5 yr |
| BXCBlueLinx Holdings Inc. | $7M | 3.8% | -27.7% | 2.8 yr |
| QNSTQuinStreet, Inc. | $6M | 3.3% | -32.7% | 5.5 yr |
| LCUTLifetime Brands, Inc. | $6M | 3.2% | +22.1% | 7.5 yr |
| BWMNBowman Consulting Group | $6M | 3.1% | +30.3% | 0.8 yr |
| RSVRReservoir Media, Inc. | $5M | 2.9% | +28.3% | 1.0 yr |
| MATWMatthews International C | $4M | 2.3% | +21.2% | 0.5 yr |
| FWRDForward Air Corporation | $4M | 2.0% | -16.8% | 0.8 yr |
| PLABPhotronics, Inc. | $3M | 1.7% | +94.7% | 1.3 yr |
| KRPKimbell Royalty Partners | $3M | 1.7% | +15.8% | 5.3 yr |
Portfolio composition (YoY)
Industry mix
Waste Management21.5%+13.9pp$41M
Security & Protection Services14.5%+4.5pp$28M
Rental & Leasing Services12.3%+0.9pp$23M
Grocery Stores8.8%$17M
Residential Construction8.5%-1.0pp$16M
Unknown5.3%-0.5pp$10M
Engineering & Construction4.8%+2.3pp$9M
Construction3.8%-1.2pp$7M
Advertising Agencies3.3%+0.2pp$6M
Furnishings, Fixtures & Appliances3.2%+0.2pp$6M
Country
US94.7%+0.5pp
Unknown5.3%-0.5pp
Top 5: 65.6% · Top 10: 82.9% · Top 25: 100.0%
Top buys this quarter · 11
| GO Grocery Outlet Holding Corp. | +$10M |
| BWMN Bowman Consulting Group Ltd. | +$3M |
| MG Mistras Group, Inc. | +$3M |
| ARHS Arhaus, Inc. | +$2M |
| MATW Matthews International Corpora | +$1M |
| PZZA Papa John's International, Incnew | +$1M |
| FWRD Forward Air Corporation | +$4M |
| ALTG Alta Equipment Group Inc. | +$0M |
| BZH Beazer Homes USA, Inc. | +$16M |
| — | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $191M | 23 | +33.80% | +17.59% | +16.21% | +0.01B |
| 2025-12-31 | $168M | 22 | +5.70% | +17.72% | -12.02% | -0.03B |
| 2025-09-30 | $192M | 24 | +4.97% | +17.52% | -12.55% | +0.01B |
| 2025-06-30 | $156M | 23 | -5.51% | +14.94% | -20.45% | -0.04B |
| 2025-03-31 | $176M | 23 | -25.85% | +8.30% | -34.15% | +0.00B |
| 2024-12-31 | $208M | 24 | -1.79% | +24.89% | -26.67% | -0.00B |
| 2024-09-30 | $210M | 23 | +8.67% | +36.04% | -27.37% | +0.02B |
| 2024-06-30 | $187M | 20 | -2.56% | +24.49% | -27.05% | -0.01B |
| 2024-03-31 | $229M | 22 | +13.54% | +29.62% | -16.09% | -0.01B |
| 2023-12-31 | $219M | 22 | +7.72% | +26.18% | -18.46% | +0.01B |
| 2023-09-30 | $190M | 25 | +5.55% | +21.57% | -16.02% | +0.02B |
| 2023-06-30 | $185M | 25 | +6.27% | +19.42% | -13.15% | -0.01B |
| 2023-03-31 | $194M | 26 | -10.31% | -7.82% | -2.49% | +0.00B |
| 2022-12-31 | $181M | 23 | +8.56% | +7.56% | +1.00% | -0.02B |
| 2022-09-30 | $189M | 25 | -6.75% | -4.93% | -1.82% | -0.01B |
| 2022-06-30 | $208M | 26 | -15.70% | -16.11% | +0.41% | -0.02B |