Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.68%
adds when stocks drop
when a holding falls −10%+
Middle response
-7.87%
baseline attrition
Rally response
-11.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IAUXi-80 Gold Corp. | $34M | 10.2% | +161.3% | 1.0 yr |
| CDECoeur Mining, Inc. | $31M | 9.4% | +217.1% | 1.3 yr |
| LADLithia Motors, Inc. | $19M | 5.7% | -14.3% | 0.5 yr |
| DIAState Street SPDR Dow Jo | $18M | 5.4% | — | 0.5 yr |
| MGMMGM Resorts Internationa | $16M | 4.7% | +24.9% | 1.8 yr |
| NXENexGen Energy Ltd. | $15M | 4.5% | +158.4% | 2.8 yr |
| — | $12M | 3.7% | — | 0.8 yr |
| ARAntero Resources Corpora | $12M | 3.6% | +4.9% | 4.3 yr |
| BZHBeazer Homes USA, Inc. | $12M | 3.5% | -5.6% | 2.8 yr |
| — | $11M | 3.3% | — | 2.3 yr |
| PSLVSprott Physical Silver T | $10M | 3.1% | — | 2.8 yr |
| DCDakota Gold Corp. | $10M | 3.1% | +90.6% | 0.5 yr |
| — | $10M | 2.9% | — | 0.3 yr |
| HBMHudbay Minerals Inc. | $9M | 2.9% | +175.7% | 3.3 yr |
| SPPPSprott Physical Platinum | $8M | 2.6% | — | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Gold27.9%+20.0pp$92M
Asset Management16.3%+1.4pp$54M
Unknown13.5%-3.6pp$45M
Oil & Gas Exploration & Production7.9%-1.8pp$26M
Auto - Dealerships5.7%$19M
Gambling, Resorts & Casinos5.5%-4.6pp$18M
Uranium4.5%+1.8pp$15M
Residential Construction3.5%-1.9pp$12M
Apparel - Retail2.9%$10M
Copper2.9%+0.1pp$9M
Country
US66.8%+7.2pp
CA19.2%-2.7pp
Unknown13.5%-3.6pp
ZA0.4%
Top 5: 35.4% · Top 10: 54.1% · Top 25: 88.0%
Top buys this quarter · 13
| CDE Coeur Mining, Inc. | +$18M |
| LAD Lithia Motors, Inc. | +$17M |
| MINE Mayfair Gold Corp.new | +$8M |
| OVV Ovintiv Inc. | +$7M |
| CVE Cenovus Energy Inc.new | +$5M |
| DC Dakota Gold Corp. | +$3M |
| JILL J.Jill, Inc.new | +$1M |
| MLP Maui Land & Pineapple Company, | +$1M |
| AAOI Applied Optoelectronics, Inc.new | +$1M |
| KREF KKR Real Estate Finance Trust | +$7M |
Top sells this quarter · 15
| NGD New Gold Inc.exit | −$17M |
| HBM Hudbay Minerals Inc. | −$9M |
| MGM MGM Resorts International | −$8M |
| CTRA Coterra Energy Inc. | −$7M |
| HNRG Hallador Energy Company | −$6M |
| NXE NexGen Energy Ltd. | −$15M |
| FEIM Frequency Electronics, Inc.exit | −$3M |
| AR Antero Resources Corporation | −$12M |
| PK Park Hotels & Resorts Inc.exit | −$2M |
| SOC Sable Offshore Corp.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $331M | 47 | +52.94% | +17.59% | +35.35% | -0.05B |
| 2025-12-31 | $359M | 50 | +35.55% | +17.72% | +17.83% | +0.05B |
| 2025-09-30 | $282M | 47 | +17.41% | +17.52% | -0.11% | -0.01B |
| 2025-06-30 | $239M | 43 | +5.05% | +14.94% | -9.89% | -0.01B |
| 2025-03-31 | $232M | 48 | +7.45% | +8.30% | -0.85% | +0.03B |
| 2024-12-31 | $217M | 45 | +29.83% | +24.89% | +4.94% | +0.01B |
| 2024-09-30 | $224M | 45 | +54.80% | +36.04% | +18.77% | -0.01B |
| 2024-06-30 | $209M | 44 | +38.21% | +24.49% | +13.72% | -0.04B |
| 2024-03-31 | $224M | 38 | +58.59% | +29.62% | +28.97% | -0.07B |
| 2023-12-31 | $260M | 34 | +48.01% | +26.18% | +21.84% | -0.03B |
| 2023-09-30 | $255M | 49 | +42.86% | +21.57% | +21.30% | -0.02B |
| 2023-06-30 | $273M | 50 | +40.76% | +19.42% | +21.33% | -0.04B |
| 2023-03-31 | $245M | 50 | -7.60% | -7.82% | +0.22% | -0.00B |
| 2022-12-31 | $237M | 51 | +8.47% | +7.56% | +0.91% | -0.01B |
| 2022-09-30 | $224M | 59 | -2.58% | -4.93% | +2.34% | -0.02B |
| 2022-06-30 | $246M | 70 | -16.44% | -16.11% | -0.33% | +0.02B |