Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+9.49%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.79%
baseline attrition
Rally response
-24.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $45M | 11.9% | — | 1.0 yr |
| MRTMarti Technologies, Inc. | $13M | 3.5% | -35.7% | 2.0 yr |
| MDLNMedline Inc. | $10M | 2.6% | — | 0.3 yr |
| SAROStandardAero, Inc. | $8M | 2.0% | -3.0% | 0.5 yr |
| DBCAD. Boral Acquisition I C | $7M | 1.9% | — | 0.3 yr |
| CEPTCantor Equity Partners I | $7M | 1.9% | — | 1.0 yr |
| — | $6M | 1.7% | — | 0.8 yr |
| — | $5M | 1.4% | — | 0.3 yr |
| MTSIMACOM Technology Solutio | $5M | 1.3% | +121.2% | 0.5 yr |
| — | $5M | 1.2% | — | 1.3 yr |
| — | $4M | 1.1% | — | 0.5 yr |
| TEMTempus AI, Inc. | $4M | 1.1% | -6.3% | 0.5 yr |
| CLBR-UNColombier Acquisition Co | $4M | 1.1% | — | 0.3 yr |
| — | $4M | 1.1% | — | 0.8 yr |
| ETHMDynamix Corporation Clas | $4M | 1.1% | — | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown51.0%+7.2pp$194M
Shell Companies20.3%+4.4pp$77M
Financial - Conglomerates7.4%+5.3pp$28M
Asset Management3.5%$13M
Software - Application3.5%-7.6pp$13M
Aerospace & Defense2.8%+1.7pp$11M
Medical - Instruments & Supplies2.6%$10M
Semiconductors1.5%$6M
Medical - Healthcare Information Services1.1%$4M
Electrical Equipment & Parts0.8%$3M
Country
Unknown50.4%+8.1pp
US41.0%-1.4pp
KY4.1%-1.3pp
TR3.5%-6.0pp
GB0.5%
CA0.3%-0.3pp
HK0.3%
Top 5: 21.9% · Top 10: 29.5% · Top 25: 43.2%
Top buys this quarter · 15
| MDLN Medline Inc.new | +$10M |
| DBCA D. Boral Acquisition I Corp. Cnew | +$7M |
| SARO StandardAero, Inc. | +$6M |
| FPS Forgent Power Solutions, Inc.new | +$3M |
| AVAV AeroVironment, Inc.new | +$3M |
| CEPT Cantor Equity Partners II, Inc | +$3M |
| PEN Penumbra, Inc.new | +$2M |
| BBCQ Bleichroeder Acquisition Corp.new | +$2M |
| IEAG Infinite Eagle Acquisition Cornew | +$2M |
| AES The AES Corporationnew | +$2M |
Top sells this quarter · 15
| WELL Welltower Inc.exit | −$13M |
| ASTS AST SpaceMobile, Inc.exit | −$8M |
| SEE Sealed Air Corporationexit | −$6M |
| GTLS Chart Industries, Inc.exit | −$4M |
| MTSI MACOM Technology Solutions Hol | −$4M |
| ITRI Itron, Inc.exit | −$4M |
| TXNM TXNM Energy, Inc. | −$3M |
| DDOG Datadog, Inc.exit | −$2M |
| GWRE Guidewire Software, Inc.exit | −$2M |
| AL Air Lease Corporationexit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $380M | 303 | +22.28% | +17.59% | +4.69% | +0.06B |
| 2025-12-31 | $325M | 257 | +21.71% | +17.72% | +3.99% | +0.02B |
| 2025-09-30 | $293M | 143 | +19.81% | +17.52% | +2.29% | +0.05B |
| 2025-06-30 | $239M | 106 | +20.03% | +14.94% | +5.09% | +0.10B |
| 2025-03-31 | $118M | 59 | +0.35% | +8.30% | -7.95% | +0.04B |
| 2024-12-31 | $77M | 30 | +0.83% | +24.89% | -24.05% | +0.04B |
| 2024-09-30 | $38M | 14 | +8.22% | +36.04% | -27.81% | -0.01B |
| 2024-06-30 | $50M | 34 | -3.18% | +24.49% | -27.67% | +0.01B |
| 2024-03-31 | $40M | 25 | +0.29% | +29.62% | -29.34% | +0.01B |
| 2023-12-31 | $26M | 23 | -5.15% | +26.18% | -31.33% | -0.02B |
| 2023-09-30 | $41M | 32 | -9.70% | +21.57% | -31.26% | -0.01B |
| 2023-06-30 | $53M | 19 | -4.13% | +19.42% | -23.56% | -0.15B |
| 2023-03-31 | $205M | 51 | -27.57% | -7.82% | -19.75% | -0.12B |
| 2022-12-31 | $346M | 71 | +5.77% | +7.56% | -1.79% | -0.09B |
| 2022-09-30 | $416M | 99 | -2.73% | -4.93% | +2.20% | +0.10B |
| 2022-06-30 | $322M | 110 | -24.74% | -16.11% | -8.63% | +0.08B |