Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.87%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.76%
baseline attrition
Rally response
-12.50%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GRNTGranite Ridge Resources, | $43M | 31.0% | +4.6% | 3.5 yr |
| OBDCBlue Owl Capital Corpora | $38M | 26.9% | -17.8% | 5.5 yr |
| NUNu Holdings Ltd. | $19M | 13.6% | +40.3% | 3.3 yr |
| TOSTToast, Inc. | $11M | 7.6% | -20.1% | 1.3 yr |
| WBIWaterBridge Infrastructu | $7M | 5.0% | — | 0.8 yr |
| IONQIonQ, Inc. | $6M | 4.0% | +30.6% | 4.5 yr |
| RBRKRubrik, Inc. | $4M | 3.2% | -19.7% | 1.5 yr |
| IOTSamsara Inc. | $3M | 1.8% | -17.3% | 1.3 yr |
| ABNBAirbnb, Inc. | $2M | 1.8% | +5.7% | 4.0 yr |
| CHYMChime Financial, Inc. Cl | $2M | 1.7% | — | 0.5 yr |
| DDOGDatadog, Inc. | $1M | 0.7% | +19.0% | 5.5 yr |
| COURCoursera, Inc. | $1M | 0.7% | -12.6% | 4.8 yr |
| FIGRFigure Technology Soluti | $1M | 0.5% | — | 0.3 yr |
| NOWServiceNow, Inc. | $0M | 0.3% | -34.3% | 0.5 yr |
| — | $0M | 0.3% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Exploration & Production31.0%-13.4pp$43M
Financial - Credit Services26.9%$38M
Banks - Diversified13.6%-22.9pp$19M
Software - Infrastructure12.6%+6.3pp$18M
Oil & Gas Energy5.0%$7M
Computer Hardware4.0%-0.9pp$6M
Travel Services1.8%$2M
Banks - Regional1.7%$2M
Software - Application1.6%-0.3pp$2M
Education & Training Services0.7%-0.3pp$1M
Country
US86.1%+24.0pp
BR13.6%-22.9pp
Unknown0.3%
Top 5: 84.0% · Top 10: 96.6% · Top 25: 100.0%
Top buys this quarter · 3
| FIGR Figure Technology Solutions, Inew | +$1M |
| FIG Figma, Inc. | +$0M |
| TTAN ServiceTitan, Inc. | +$0M |
Top sells this quarter · 15
| WBI WaterBridge Infrastructure LLC | −$20M |
| GRNT Granite Ridge Resources, Inc | −$37M |
| RBRK Rubrik, Inc. | −$2M |
| CCEL Cryo-Cell International, Inc.exit | −$1M |
| NU Nu Holdings Ltd. | −$1M |
| TOST Toast, Inc. | −$1M |
| CAI Caris Life Sciences, Inc.exit | −$1M |
| VCTR Victory Capital Holdings, Inc.exit | −$1M |
| NOW ServiceNow, Inc. | −$1M |
| HIMS Hims & Hers Health, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $140M | 20 | +12.87% | +17.59% | -4.72% | -0.04B |
| 2025-12-31 | $182M | 26 | -3.67% | +17.72% | -21.38% | +0.02B |
| 2025-09-30 | $174M | 20 | +42.33% | +17.52% | +24.81% | +0.02B |
| 2025-06-30 | $135M | 14 | +32.56% | +14.94% | +17.62% | +0.00B |
| 2025-03-31 | $116M | 14 | +13.16% | +8.30% | +4.86% | +0.03B |
| 2024-12-31 | $103M | 17 | +53.36% | +24.89% | +28.47% | -0.05B |
| 2024-09-30 | $115M | 15 | +22.20% | +36.04% | -13.84% | -0.01B |
| 2024-06-30 | $124M | 20 | +2.91% | +24.49% | -21.59% | -0.02B |
| 2024-03-31 | $147M | 17 | +4.22% | +29.62% | -25.40% | -0.13B |
| 2023-12-31 | $243M | 26 | +12.30% | +26.18% | -13.88% | +0.05B |
| 2023-09-30 | $178M | 31 | +1.46% | +21.57% | -20.11% | -0.02B |
| 2023-06-30 | $228M | 53 | +18.61% | +19.42% | -0.81% | -0.07B |
| 2023-03-31 | $299M | 61 | -21.89% | -7.82% | -14.08% | -0.04B |
| 2022-12-31 | $277M | 68 | -3.38% | +7.56% | -10.94% | +0.01B |
| 2022-09-30 | $273M | 66 | +2.44% | -4.93% | +7.37% | +0.01B |
| 2022-06-30 | $258M | 70 | -34.71% | -16.11% | -18.60% | -0.03B |