Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.90%
baseline attrition
Rally response
-4.88%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| QXOQXO, Inc. | $474M | 59.9% | +43.4% | 1.0 yr |
| ANROAlto Neuroscience, Inc. | $83M | 10.5% | +940.7% | 2.3 yr |
| WWDWoodward, Inc. | $35M | 4.4% | +97.0% | 2.5 yr |
| LENZLENZ Therapeutics, Inc. | $33M | 4.2% | -64.4% | 2.3 yr |
| BAThe Boeing Company | $33M | 4.2% | +16.7% | 1.3 yr |
| RDNTRadNet, Inc. | $27M | 3.4% | +12.4% | 2.5 yr |
| — | $23M | 2.9% | — | 0.3 yr |
| REZIResideo Technologies, In | $20M | 2.6% | +90.5% | 0.8 yr |
| VTRVentas, Inc. | $20M | 2.5% | +21.4% | 0.5 yr |
| CDPCOPT Defense Properties | $13M | 1.6% | +15.9% | 0.3 yr |
| HIIHuntington Ingalls Indus | $7M | 0.8% | +89.7% | 2.5 yr |
| NGVTIngevity Corporation | $6M | 0.8% | +79.9% | 1.8 yr |
| CBLCBL & Associates Propert | $6M | 0.7% | +52.2% | 1.3 yr |
| DNNDenison Mines Corp. | $3M | 0.3% | +171.5% | 7.0 yr |
| AMLXAmylyx Pharmaceuticals, | $2M | 0.3% | +292.7% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Industrial - Distribution59.9%$474M
Biotechnology15.0%-59.2pp$118M
Aerospace & Defense9.6%+3.9pp$76M
Medical - Diagnostics & Research3.4%-1.9pp$27M
Unknown3.1%+2.1pp$25M
Security & Protection Services2.6%$20M
REIT - Healthcare Facilities2.5%$20M
REIT - Office1.6%$13M
Chemicals - Specialty0.8%$6M
REIT - Retail0.7%-0.3pp$6M
Country
US96.4%-1.0pp
Unknown3.1%+2.1pp
CA0.5%-1.1pp
Top 5: 83.2% · Top 10: 96.1% · Top 25: 100.0%
Top buys this quarter · 3
| CDP COPT Defense Propertiesnew | +$13M |
| REZI Resideo Technologies, Inc. | +$5M |
| — new | +$0M |
Top sells this quarter · 15
| MASI Masimo Corporationexit | −$13M |
| WWD Woodward, Inc. | −$8M |
| NGVT Ingevity Corporation | −$8M |
| HII Huntington Ingalls Industries, | −$5M |
| RDNT RadNet, Inc. | −$4M |
| BA The Boeing Company | −$3M |
| WAY Waystar Holding Corp.exit | −$3M |
| ERII Energy Recovery, Inc.exit | −$3M |
| AMLX Amylyx Pharmaceuticals, Inc. | −$2M |
| VTR Ventas, Inc. | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $791M | 20 | +31.24% | +17.59% | +13.65% | -0.02B |
| 2025-12-31 | $816M | 22 | +14.03% | +17.72% | -3.69% | -0.11B |
| 2025-09-30 | $987M | 28 | +21.84% | +17.52% | +4.32% | +0.03B |
| 2025-06-30 | $928M | 33 | +32.32% | +14.94% | +17.37% | +0.62B |
| 2025-03-31 | $224M | 24 | -12.19% | +8.30% | -20.49% | +0.04B |
| 2024-12-31 | $216M | 22 | +5.59% | +24.89% | -19.29% | -0.11B |
| 2024-09-30 | $322M | 20 | +11.77% | +36.04% | -24.27% | -0.01B |
| 2024-06-30 | $299M | 24 | -4.57% | +24.49% | -29.06% | +0.00B |
| 2024-03-31 | $329M | 26 | +4.72% | +29.62% | -24.91% | +0.11B |
| 2023-12-31 | $207M | 26 | -5.56% | +26.18% | -31.74% | +0.04B |
| 2023-09-30 | $158M | 26 | -4.62% | +21.57% | -26.18% | +0.01B |
| 2023-06-30 | $153M | 29 | +63.25% | +19.42% | +43.82% | -0.08B |
| 2023-03-31 | $240M | 44 | +32.13% | -7.82% | +39.94% | -0.23B |
| 2022-12-31 | $502M | 73 | +7.07% | +7.56% | -0.49% | -0.35B |
| 2022-09-30 | $800M | 112 | +64.29% | -4.93% | +69.22% | -0.73B |
| 2022-06-30 | $930M | 126 | -20.06% | -16.11% | -3.95% | +0.08B |