Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.08%
trims when stocks drop
when a holding falls −10%+
Middle response
-17.76%
baseline attrition
Rally response
-15.18%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BLBlackLine, Inc. | $16M | 9.6% | -23.6% | 1.0 yr |
| STXSeagate Technology Holdi | $11M | 6.8% | +366.3% | 1.0 yr |
| — | $11M | 6.7% | — | 0.3 yr |
| TACTransAlta Corporation | $10M | 6.4% | +42.2% | 1.8 yr |
| — | $9M | 5.8% | — | 1.0 yr |
| YETIYETI Holdings, Inc. | $9M | 5.7% | +10.5% | 0.8 yr |
| GLWCorning Incorporated | $9M | 5.5% | +201.5% | 0.3 yr |
| ATEXAnterix Inc. | $9M | 5.4% | +4.3% | 0.3 yr |
| CROXCrocs, Inc. | $8M | 5.1% | -21.8% | 1.5 yr |
| GEVGE Vernova Inc. | $8M | 4.9% | +186.8% | 2.3 yr |
| NOKNokia Oyj | $8M | 4.6% | +57.0% | 0.3 yr |
| USMUnited States Cellular C | $7M | 4.5% | — | 0.5 yr |
| BILLBill.com Holdings, Inc. | $7M | 4.0% | -16.5% | 0.8 yr |
| GMTLGuardian Metal Resources | $6M | 3.9% | — | 0.3 yr |
| HNGEHinge Health, Inc. | $5M | 2.8% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Application19.4%+6.3pp$32M
Unknown12.8%+8.2pp$21M
Telecommunications Services9.9%$16M
Independent Power Producers8.4%-8.1pp$14M
Computer Hardware6.8%$11M
Hardware, Equipment & Parts6.8%+0.4pp$11M
Leisure5.7%$9M
Apparel - Footwear & Accessories5.1%$8M
Renewable Utilities4.9%+1.7pp$8M
Communication Equipment4.6%$8M
Country
US65.6%-18.7pp
Unknown12.8%+8.2pp
SG6.8%
CA6.4%-4.8pp
FI4.6%
GB3.9%
Top 5: 35.2% · Top 10: 61.8% · Top 25: 97.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GEV | $6M | +0.01B | 186.8% |
| TAC | $23M | +0.01B | 42.2% |
| TLN | $11M | +0.01B | 59.9% |
| TPB | $10M | +0.00B | 46.5% |
| NXDR | $5M | -0.00B | -8.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NXDR | $5M | -0.00B | -8.5% |
Top buys this quarter · 14
| GLW Corning Incorporatednew | +$9M |
| ATEX Anterix Inc.new | +$9M |
| NOK Nokia Oyjnew | +$8M |
| GMTL Guardian Metal Resources PLC Snew | +$6M |
| CROX Crocs, Inc. | +$6M |
| HNGE Hinge Health, Inc.new | +$5M |
| AKAM Akamai Technologies, Inc.new | +$2M |
| MPTI M-tron Industries, Inc.new | +$2M |
| ZVIA Zevia PBCnew | +$2M |
| BL BlackLine, Inc. | +$16M |
Top sells this quarter · 15
| TLN Talen Energy Corporation | −$21M |
| MSFT Microsoft Corporationexit | −$14M |
| STX Seagate Technology Holdings pl | −$13M |
| TAC TransAlta Corporation | −$12M |
| CWAN Clearwater Analytics Holdings,exit | −$8M |
| AMBA Ambarella, Inc.exit | −$8M |
| IE Ivanhoe Electric Inc.exit | −$7M |
| TPB Turning Point Brands, Inc. | −$5M |
| UNF UniFirst Corporationexit | −$5M |
| RDDT Reddit, Inc.exit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $163M | 31 | +51.55% | +17.59% | +33.96% | -0.11B |
| 2025-12-31 | $297M | 34 | +40.97% | +17.72% | +23.26% | -0.04B |
| 2025-09-30 | $329M | 37 | +48.28% | +17.52% | +30.76% | +0.06B |
| 2025-06-30 | $215M | 24 | +18.79% | +14.94% | +3.85% | -0.05B |
| 2025-03-31 | $204M | 18 | -6.76% | +8.30% | -15.06% | +0.00B |
| 2024-12-31 | $236M | 25 | +10.70% | +24.89% | -14.19% | -0.09B |
| 2024-09-30 | $298M | 34 | -0.78% | +36.04% | -36.82% | +0.07B |
| 2024-06-30 | $232M | 27 | -2.66% | +24.49% | -27.15% | +0.07B |
| 2024-03-31 | $161M | 25 | -0.17% | +29.62% | -29.79% | -0.02B |
| 2023-12-31 | $183M | 24 | +15.87% | +26.18% | -10.30% | +0.04B |
| 2023-09-30 | $151M | 23 | +14.66% | +21.57% | -6.90% | -0.00B |
| 2023-06-30 | $157M | 26 | +28.04% | +19.42% | +8.62% | +0.00B |
| 2023-03-31 | $149M | 25 | +1.75% | -7.82% | +9.57% | -0.03B |
| 2022-12-31 | $151M | 28 | -4.08% | +7.56% | -11.64% | +0.01B |
| 2022-09-30 | $146M | 48 | +9.87% | -4.93% | +14.80% | -0.02B |
| 2022-06-30 | $150M | 52 | -17.66% | -16.11% | -1.55% | -0.10B |