Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+33.20%
adds when stocks drop
when a holding falls −10%+
Middle response
-9.55%
baseline attrition
Rally response
-0.87%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FOXFox Corporation | $96M | 26.8% | +1.8% | 1.3 yr |
| HEI-AHEICO Corporation | $21M | 5.8% | — | 0.8 yr |
| VTEBVanguard Tax-Exempt Bond | $18M | 4.9% | — | 0.5 yr |
| GOFGuggenheim Strategic Opp | $14M | 4.0% | — | 0.5 yr |
| NWSANews Corporation | $14M | 3.9% | -7.7% | 2.0 yr |
| PTYPIMCO Corporate & Income | $9M | 2.6% | — | 0.5 yr |
| SPPPSprott Physical Platinum | $8M | 2.3% | — | 0.3 yr |
| SVAQSilicon Valley Acquisiti | $7M | 2.1% | — | 0.3 yr |
| CEFSprott Physical Gold and | $6M | 1.7% | — | 0.3 yr |
| EFREaton Vance Senior Float | $6M | 1.6% | — | 1.3 yr |
| ANSCAgriculture & Natural So | $6M | 1.6% | +5.8% | 0.5 yr |
| PCQPIMCO California Municip | $5M | 1.5% | — | 2.5 yr |
| — | $5M | 1.4% | — | 0.5 yr |
| OBAOxley Bridge Acquisition | $5M | 1.4% | — | 0.5 yr |
| — | $5M | 1.4% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Entertainment30.7%+23.7pp$111M
Asset Management28.1%-20.8pp$101M
Asset Management - Income15.8%+3.2pp$57M
Unknown7.7%+7.1pp$28M
Shell Companies6.7%$24M
Aerospace & Defense5.8%$21M
Financial - Conglomerates3.1%+2.3pp$11M
Asset Management - Global1.5%+0.8pp$5M
Restaurants0.3%$1M
Asset Management - Leveraged0.2%$1M
Country
US84.8%-9.5pp
Unknown7.6%+6.9pp
CA5.4%
TW0.7%
MX0.7%+0.3pp
HK0.6%
SG0.2%
DE0.0%-0.1pp
Top 5: 45.3% · Top 10: 55.6% · Top 25: 74.1%
Top buys this quarter · 15
| FOX Fox Corporation | +$69M |
| SVAQ Silicon Valley Acquisition Cornew | +$7M |
| WSTN Westin Acquisition Corpnew | +$1M |
| BH Biglari Holdings Inc. | +$0M |
| SVCC Stellar V Capital Corp. Class new | +$0M |
| DNMX Dynamix Corporation III Class new | +$0M |
| DMII Drugs Made In America Acquisitnew | +$0M |
| TACO Berto Acquisition Corp. | +$0M |
| AVK Advent Convertible and Income new | +$0M |
| AWF AllianceBernstein Global High | +$0M |
Top sells this quarter · 15
| NWSA News Corporation | −$6M |
| IFN Aberdeen India Fund, Inc.exit | −$1M |
| LEO BNY Mellon Strategic Municipalexit | −$0M |
| YCY AA Mission Acquisition Corp. Iexit | −$0M |
| CCIX Churchill Capital Corp IX Ordi | −$0M |
| MMTX Miluna Acquisition Corp Class | −$3M |
| TDWD Tailwind 2.0 Acquisition Corp. | −$1M |
| AFB AllianceBernstein National Mun | −$0M |
| BBN BlackRock Taxable Municipal Bo | −$0M |
| BTZ BlackRock Credit Allocation In | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $360M | 133 | +15.73% | +17.59% | -1.86% | -0.01B |
| 2025-12-31 | $406M | 150 | +26.24% | +17.72% | +8.52% | +0.17B |
| 2025-09-30 | $220M | 66 | +14.90% | +17.52% | -2.62% | -0.02B |
| 2025-06-30 | $213M | 78 | +6.21% | +14.94% | -8.74% | -0.01B |
| 2025-03-31 | $215M | 71 | +7.66% | +8.30% | -0.64% | -0.08B |
| 2024-12-31 | $299M | 113 | +11.53% | +24.89% | -13.36% | -0.09B |
| 2024-09-30 | $401M | 129 | +27.15% | +36.04% | -8.89% | -0.01B |
| 2024-06-30 | $387M | 155 | +15.32% | +24.49% | -9.17% | -0.10B |
| 2024-03-31 | $465M | 142 | +10.71% | +29.62% | -18.91% | -0.05B |
| 2023-12-31 | $494M | 147 | +17.09% | +26.18% | -9.08% | +0.09B |
| 2023-09-30 | $365M | 150 | +11.67% | +21.57% | -9.89% | +0.08B |
| 2023-06-30 | $295M | 147 | +10.77% | +19.42% | -8.66% | +0.04B |
| 2023-03-31 | $253M | 158 | -8.38% | -7.82% | -0.57% | -0.04B |
| 2022-12-31 | $268M | 198 | -20.13% | -18.17% | -1.95% | +0.11B |
| 2022-09-30 | $152M | 143 | -4.59% | -4.93% | +0.34% | +0.02B |
| 2022-06-30 | $136M | 128 | -15.96% | -16.11% | +0.15% | +0.02B |