Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.48%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
-9.61%
trims into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GPNGlobal Payments Inc. | $2.91B | 77.0% | -30.4% | 0.3 yr |
| AJGArthur J. Gallagher & Co | $514M | 13.6% | -36.6% | 0.3 yr |
| SHCSotera Health Company | $183M | 4.8% | +23.0% | 5.5 yr |
| GOGOGogo Inc. | $93M | 2.5% | -53.4% | 5.5 yr |
| MRVIMaravai LifeSciences Hol | $57M | 1.5% | +28.1% | 5.5 yr |
| SEATVivid Seats Inc. | $22M | 0.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services77.0%$2.91B
Insurance - Brokers13.6%$514M
Medical - Diagnostics & Research4.8%-59.5pp$183M
Telecommunications Services2.5%-28.2pp$93M
Biotechnology1.5%-3.5pp$57M
Internet Content & Information0.6%$22M
Country
US100.0%+0.0pp
Top 5: 99.4% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| GOGO | $274M | -0.15B | -53.4% |
Top sells this quarter · 1
| SHC Sotera Health Company | −$143M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.78B | 6 | +9.75% | +17.59% | -7.84% | +3.26B |
| 2025-12-31 | $602M | 4 | +9.70% | +17.72% | -8.02% | -0.28B |
| 2025-09-30 | $906M | 3 | -0.66% | +17.52% | -18.18% | -0.13B |
| 2025-06-30 | $937M | 3 | +9.02% | +14.94% | -5.92% | -0.12B |
| 2025-03-31 | $892M | 3 | -9.98% | +8.30% | -18.29% | +0.00B |
| 2024-12-31 | $1.04B | 3 | -16.52% | +24.89% | -41.41% | -0.09B |
| 2024-09-30 | $1.28B | 4 | -5.56% | +36.04% | -41.60% | -0.17B |
| 2024-06-30 | $1.20B | 4 | -39.62% | +24.49% | -64.11% | +0.04B |
| 2024-03-31 | $1.18B | 3 | -35.20% | +29.62% | -64.82% | -0.13B |
| 2023-12-31 | $1.65B | 3 | +20.79% | +26.18% | -5.39% | -0.00B |
| 2023-09-30 | $1.65B | 3 | +16.28% | +21.57% | -5.29% | -0.00B |
| 2023-06-30 | $2.13B | 3 | -14.89% | +19.42% | -34.31% | +0.00B |
| 2023-03-31 | $2.02B | 3 | -30.06% | -7.82% | -22.24% | -0.53B |
| 2022-12-31 | $1.72B | 4 | -3.76% | +7.56% | -11.32% | +0.09B |
| 2022-09-30 | $1.69B | 4 | -43.45% | -4.93% | -38.52% | +0.11B |
| 2022-06-30 | $2.80B | 4 | -13.32% | -16.11% | +2.79% | +0.07B |