Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.15%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.86%
steady accumulation
Rally response
-5.31%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| INDVIndivior Pharmaceuticals | $84M | 6.8% | — | 0.3 yr |
| ATMUAtmus Filtration Technol | $75M | 6.1% | +55.3% | 2.8 yr |
| ETHGrayscale Ethereum Mini | $71M | 5.7% | — | 0.3 yr |
| REXREX American Resources C | $46M | 3.8% | +142.7% | 0.8 yr |
| PCGPG&E Corporation | $42M | 3.4% | +2.9% | 3.5 yr |
| OKEONEOK, Inc. | $42M | 3.4% | -3.8% | 0.5 yr |
| TIGOMillicom International C | $42M | 3.4% | +167.9% | 1.3 yr |
| ENVAEnova International, Inc | $39M | 3.2% | +40.7% | 4.0 yr |
| MRPMillrose Properties, Inc | $39M | 3.1% | +12.1% | 1.3 yr |
| KDPKeurig Dr Pepper Inc. | $36M | 2.9% | -21.2% | 0.3 yr |
| UNPUnion Pacific Corporatio | $36M | 2.9% | +5.1% | 0.3 yr |
| BIOBio-Rad Laboratories, In | $35M | 2.9% | +14.4% | 0.8 yr |
| FLYWFlywire Corporation | $35M | 2.8% | +22.5% | 0.8 yr |
| GPCGenuine Parts Company | $33M | 2.7% | -8.3% | 0.3 yr |
| BILLBill.com Holdings, Inc. | $32M | 2.6% | -16.5% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Unknown9.7%+6.0pp$120M
Drug Manufacturers - Specialty & Generic6.9%+2.6pp$86M
Industrial - Pollution & Treatment Controls6.1%+1.5pp$75M
Asset Management - Cryptocurrency5.7%$71M
Shell Companies5.6%+4.2pp$69M
Information Technology Services5.5%+3.3pp$68M
Software - Application4.9%+4.6pp$60M
Chemicals - Specialty3.9%+0.7pp$48M
Regulated Electric3.7%$46M
Financial - Credit Services3.7%-0.9pp$46M
Country
US81.5%+14.6pp
Unknown9.7%+6.0pp
LU3.4%-0.3pp
CA2.0%-0.3pp
KR0.6%
BR0.5%-0.4pp
SG0.5%
HK0.4%-0.2pp
Top 5: 25.7% · Top 10: 41.7% · Top 25: 68.6%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TIGO | $33M | +0.05B | 167.9% |
| ATMU | $40M | +0.02B | 55.3% |
| ENVA | $40M | +0.02B | 40.7% |
| CIG | $8M | +0.00B | 52.2% |
| MRP | $32M | +0.00B | 12.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NWSA | $14M | -0.00B | -7.7% |
Top buys this quarter · 15
| INDV Indivior Pharmaceuticals Incnew | +$84M |
| OKE ONEOK, Inc. | +$41M |
| TIGO Millicom International Cellula | +$40M |
| KDP Keurig Dr Pepper Inc.new | +$36M |
| UNP Union Pacific Corporationnew | +$36M |
| GPC Genuine Parts Companynew | +$33M |
| TRIP Tripadvisor, Inc. | +$10M |
| HAVA Harvard Ave Acquisition Corpornew | +$7M |
| FIS Fidelity National Information | +$31M |
| BILL Bill.com Holdings, Inc. | +$32M |
Top sells this quarter · 15
| RIO Rio Tinto Groupexit | −$93M |
| ECVT Ecovyst Inc.exit | −$70M |
| TEVA Teva Pharmaceutical Industriesexit | −$65M |
| BDX Becton, Dickinson and Companyexit | −$39M |
| TXNM TXNM Energy, Inc. | −$36M |
| ACI Albertsons Companies, Inc. | −$36M |
| TFX Teleflex Incorporatedexit | −$31M |
| ANAB AnaptysBio, Inc. | −$25M |
| TPB Turning Point Brands, Inc.exit | −$23M |
| EHC Encompass Health Corporation | −$19M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.23B | 425 | +44.50% | +17.59% | +26.91% | +0.00B |
| 2025-12-31 | $1.23B | 368 | +30.23% | +17.72% | +12.51% | -0.12B |
| 2025-09-30 | $1.20B | 177 | +14.27% | +17.52% | -3.25% | +0.12B |
| 2025-06-30 | $916M | 152 | +15.45% | +14.94% | +0.51% | -0.03B |
| 2025-03-31 | $871M | 150 | +4.50% | +8.30% | -3.80% | +0.13B |
| 2024-12-31 | $823M | 147 | +31.85% | +24.89% | +6.97% | -0.20B |
| 2024-09-30 | $1.05B | 149 | +47.57% | +36.04% | +11.53% | -0.30B |
| 2024-06-30 | $1.13B | 122 | +22.84% | +24.49% | -1.65% | -0.07B |
| 2024-03-31 | $1.21B | 134 | +30.70% | +29.62% | +1.08% | -0.19B |
| 2023-12-31 | $1.22B | 147 | +18.14% | +26.18% | -8.04% | +0.12B |
| 2023-09-30 | $1.00B | 117 | +24.74% | +21.57% | +3.17% | -0.02B |
| 2023-06-30 | $1.03B | 147 | +24.91% | +19.42% | +5.48% | -0.06B |
| 2023-03-31 | $1.05B | 152 | -0.31% | -7.82% | +7.51% | -0.06B |
| 2022-12-31 | $1.07B | 212 | +15.78% | +7.56% | +8.22% | -0.15B |
| 2022-09-30 | $1.05B | 202 | -0.17% | -4.93% | +4.76% | -0.26B |
| 2022-06-30 | $1.31B | 305 | -16.52% | -16.11% | -0.41% | +0.27B |