Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.48%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.61%
steady accumulation
Rally response
-2.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GLDDGreat Lakes Dredge & Doc | $18M | 11.3% | +95.4% | 10.5 yr |
| TGTredegar Corporation | $13M | 8.5% | +3.2% | 4.8 yr |
| INFUInfuSystem Holdings, Inc | $11M | 7.2% | +71.6% | 10.5 yr |
| EMLThe Eastern Company | $11M | 7.1% | -18.4% | 10.5 yr |
| ESCAEscalade, Incorporated | $10M | 6.3% | +16.2% | 10.5 yr |
| VIRCVirco Mfg. Corporation | $9M | 6.0% | -34.3% | 10.5 yr |
| DLHCDLH Holdings Corp. | $6M | 4.2% | +43.7% | 7.3 yr |
| SIFSIFCO Industries, Inc. | $6M | 4.1% | +382.2% | 10.5 yr |
| UTMDUtah Medical Products, I | $6M | 3.7% | +12.9% | 2.0 yr |
| NVGSNavigator Holdings Ltd. | $6M | 3.7% | +46.8% | 10.5 yr |
| SSPThe E.W. Scripps Company | $6M | 3.7% | +25.7% | 10.5 yr |
| ATROAstronics Corporation | $5M | 3.0% | +176.1% | 10.5 yr |
| KEQUKewaunee Scientific Corp | $5M | 3.0% | -13.0% | 6.8 yr |
| UFIUnifi, Inc. | $4M | 2.9% | -25.8% | 3.3 yr |
| CACCamden National Corporat | $4M | 2.7% | +22.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional14.0%-0.7pp$22M
Engineering & Construction11.3%+3.0pp$18M
Medical - Instruments & Supplies10.9%+4.2pp$17M
Furnishings, Fixtures & Appliances9.0%-0.8pp$14M
Manufacturing - Metal Fabrication8.5%-0.2pp$13M
Aerospace & Defense7.2%-1.4pp$11M
Manufacturing - Tools & Accessories7.1%-1.7pp$11M
Leisure6.3%+0.6pp$10M
Specialty Business Services4.2%+1.3pp$6M
Oil & Gas Midstream3.7%+0.9pp$6M
Country
US94.4%-0.3pp
GB5.6%+0.7pp
Top 5: 40.5% · Top 10: 62.2% · Top 25: 90.6%
Top buys this quarter · 11
| INFU InfuSystem Holdings, Inc. | +$1M |
| RAIL FreightCar America, Inc. | +$3M |
| FRME First Merchants Corporation | +$1M |
| SSP The E.W. Scripps Company | +$1M |
| KEQU Kewaunee Scientific Corporatio | +$1M |
| NWFL Norwood Financial Corp. | +$0M |
| VIRC Virco Mfg. Corporation | +$0M |
| EML The Eastern Company | +$0M |
| UFI Unifi, Inc. | +$0M |
| TG Tredegar Corporation | +$0M |
Top sells this quarter · 15
| GLDD Great Lakes Dredge & Dock Corp | −$6M |
| ATRO Astronics Corporation | −$2M |
| DORM Dorman Products, Inc.exit | −$1M |
| USLM United States Lime & Minerals,exit | −$1M |
| CZFS Citizens Financial Services, Iexit | −$0M |
| CBU Community Bank System, Inc.exit | −$0M |
| SGA Saga Communications, Inc.exit | −$0M |
| CTGO Contango Ore, Inc. | −$0M |
| SIF SIFCO Industries, Inc. | −$3M |
| NVGS Navigator Holdings Ltd. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $155M | 48 | +23.78% | +17.59% | +6.19% | -0.01B |
| 2025-12-31 | $150M | 57 | +2.67% | +17.72% | -15.05% | -0.00B |
| 2025-09-30 | $157M | 56 | +1.89% | +17.52% | -15.63% | -0.00B |
| 2025-06-30 | $153M | 56 | +9.80% | +14.94% | -5.14% | -0.01B |
| 2025-03-31 | $146M | 56 | -5.97% | +8.30% | -14.28% | -0.01B |
| 2024-12-31 | $171M | 57 | +5.65% | +24.89% | -19.24% | +0.00B |
| 2024-09-30 | $173M | 57 | +31.07% | +36.04% | -4.97% | +0.00B |
| 2024-06-30 | $150M | 57 | +15.39% | +24.49% | -9.10% | -0.01B |
| 2024-03-31 | $163M | 59 | +25.73% | +29.62% | -3.89% | +0.00B |
| 2023-12-31 | $160M | 59 | +23.49% | +26.18% | -2.68% | -0.01B |
| 2023-09-30 | $143M | 62 | +5.86% | +21.57% | -15.70% | -0.00B |
| 2023-06-30 | $145M | 65 | -7.06% | +19.42% | -26.49% | +0.00B |
| 2023-03-31 | $139M | 67 | -22.04% | -7.82% | -14.23% | +0.01B |
| 2022-12-31 | $134M | 66 | +2.56% | +7.56% | -5.00% | -0.00B |
| 2022-09-30 | $132M | 66 | -11.80% | -4.93% | -6.87% | +0.01B |
| 2022-06-30 | $139M | 65 | -13.18% | -16.11% | +2.93% | +0.00B |