Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-26.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.65%
baseline attrition
Rally response
-22.79%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ADSEADS-TEC Energy PLC | $255M | 25.9% | -23.3% | 2.3 yr |
| BUSEFirst Busey Corporation | $32M | 3.2% | +22.2% | 1.0 yr |
| REEverest Re Group, Ltd. | $20M | 2.0% | — | 2.0 yr |
| FSUNFirstSun Capital Bancorp | $17M | 1.7% | +0.9% | 0.5 yr |
| OCFCOceanFirst Financial Cor | $14M | 1.5% | +11.0% | 0.3 yr |
| GRNDGrindr Inc. | $8M | 0.8% | -32.5% | 0.3 yr |
| STNGScorpio Tankers Inc. | $8M | 0.8% | +105.1% | 1.8 yr |
| HUBBHubbell Incorporated | $7M | 0.7% | +50.1% | 2.0 yr |
| PHParker-Hannifin Corporat | $7M | 0.7% | +48.6% | 2.8 yr |
| JCIJohnson Controls Interna | $7M | 0.7% | +65.7% | 1.8 yr |
| CMICummins Inc. | $6M | 0.7% | +74.8% | 2.5 yr |
| MMM3M Company | $6M | 0.7% | +0.7% | 2.8 yr |
| VMCVulcan Materials Company | $6M | 0.6% | +17.5% | 2.3 yr |
| ETOReToro Group Ltd. | $6M | 0.6% | — | 0.5 yr |
| — | $5M | 0.5% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Electrical Equipment & Parts27.7%+17.8pp$272M
Banks - Regional10.0%+8.0pp$98M
Industrial - Machinery3.1%+2.8pp$31M
Semiconductors2.6%-4.4pp$25M
Software - Application2.2%-0.1pp$22M
Unknown2.2%+1.8pp$21M
Chemicals - Specialty2.1%+1.7pp$21M
Insurance - Reinsurance2.1%+1.8pp$20M
Hardware, Equipment & Parts1.9%+1.9pp$19M
Communication Equipment1.8%+1.8pp$18M
Country
US59.8%-20.2pp
IE26.8%+16.7pp
BM2.5%+0.1pp
Unknown2.2%+1.8pp
BR1.8%+1.4pp
MX0.9%+0.7pp
IL0.9%+0.9pp
PE0.8%+0.5pp
Top 5: 34.3% · Top 10: 38.0% · Top 25: 45.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GOOG | $17M | +0.01B | 84.3% |
| DG | $36M | +0.01B | 37.3% |
| STNG | $2M | +0.00B | 105.1% |
| VRT | $1M | +0.00B | 247.5% |
| AME | $5M | +0.00B | 25.3% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ADSE | $230M | -0.05B | -23.3% |
Top buys this quarter · 15
| ADSE ADS-TEC Energy PLC | +$47M |
| OCFC OceanFirst Financial Corp.new | +$14M |
| FSUN FirstSun Capital Bancorp | +$11M |
| GRND Grindr Inc.new | +$8M |
| STNG Scorpio Tankers Inc. | +$7M |
| FIVE Five Below, Inc. | +$4M |
| UNIT Uniti Group Inc. | +$4M |
| INTR Inter & Co, Inc.new | +$3M |
| VST Vistra Corp.new | +$3M |
| BOOT Boot Barn Holdings, Inc. | +$3M |
Top sells this quarter · 15
| CVNA Carvana Co.exit | −$30M |
| AAPL Apple Inc. | −$23M |
| CORZ Core Scientific, Inc. | −$23M |
| KSPI Joint Stock Company Kaspi.kzexit | −$18M |
| SKIN The Beauty Health Companyexit | −$17M |
| RCI Rogers Communications Inc.exit | −$15M |
| UAA Under Armour, Inc. | −$15M |
| EQNR Equinor ASAexit | −$13M |
| JPM JPMorgan Chase & Co. | −$11M |
| IBKR Interactive Brokers Group, Incexit | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $984M | 877 | +21.88% | +17.59% | +4.29% | -0.00B |
| 2025-12-31 | $977M | 655 | +15.87% | +17.72% | -1.84% | -0.27B |
| 2025-09-30 | $1.15B | 250 | +8.49% | +17.52% | -9.03% | +0.20B |
| 2025-06-30 | $929M | 202 | +14.29% | +14.94% | -0.65% | -1.68B |
| 2025-03-31 | $2.40B | 254 | +11.33% | +8.30% | +3.02% | +1.39B |
| 2024-12-31 | $1.06B | 224 | +30.52% | +24.89% | +5.63% | -0.74B |
| 2024-09-30 | $1.77B | 145 | +39.43% | +36.04% | +3.39% | +0.49B |
| 2024-06-30 | $1.18B | 411 | +29.19% | +24.49% | +4.70% | -0.27B |
| 2024-03-31 | $1.37B | 482 | +34.56% | +29.62% | +4.93% | +0.59B |
| 2023-12-31 | $697M | 414 | +28.75% | +26.18% | +2.57% | -0.06B |
| 2023-09-30 | $700M | 345 | +26.29% | +21.57% | +4.73% | -0.16B |
| 2023-06-30 | $860M | 463 | +21.78% | +19.42% | +2.36% | +0.33B |
| 2023-03-31 | $478M | 356 | -4.02% | -7.82% | +3.80% | -0.73B |
| 2022-12-31 | $1.12B | 378 | -14.91% | -18.17% | +3.27% | +0.12B |
| 2022-09-30 | $941M | 293 | -11.27% | -15.51% | +4.24% | -0.03B |
| 2022-06-30 | $1.01B | 429 | -7.27% | -10.62% | +3.35% | +0.25B |