Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.01%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.21%
baseline attrition
Rally response
-0.94%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SPYState Street SPDR S&P 50 | $23M | 7.9% | +17.6% | 3.5 yr |
| GOOGLAlphabet Inc. | $13M | 4.5% | — | 6.5 yr |
| ITRNIturan Location and Cont | $13M | 4.4% | +41.1% | 3.5 yr |
| QQQInvesco QQQ Trust, Serie | $11M | 3.6% | — | 2.5 yr |
| IBITiShares Bitcoin Trust ET | $10M | 3.4% | — | 2.0 yr |
| DALDelta Air Lines, Inc. | $10M | 3.2% | +54.5% | 2.5 yr |
| IJRiShares Core S&P Small-C | $9M | 3.0% | — | 1.5 yr |
| TPBTurning Point Brands, In | $9M | 3.0% | +46.5% | 3.5 yr |
| BKUTKBank of Utica | $8M | 2.7% | — | 3.5 yr |
| PAASPan American Silver Corp | $8M | 2.6% | +114.7% | 0.3 yr |
| MSFTMicrosoft Corporation | $8M | 2.5% | -0.6% | 6.0 yr |
| CRCCalifornia Resources Cor | $6M | 2.2% | +62.5% | 0.8 yr |
| JOUTJohnson Outdoors Inc. | $6M | 2.0% | +94.8% | 6.3 yr |
| ACNAccenture plc | $6M | 2.0% | -35.6% | 2.3 yr |
| CRICarter's, Inc. | $6M | 2.0% | -9.6% | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management20.7%-6.5pp$61M
Software - Infrastructure8.0%+3.6pp$24M
Communication Equipment5.5%+1.9pp$16M
Internet Content & Information4.8%+0.2pp$14M
Banks - Regional4.0%+0.2pp$12M
Information Technology Services3.4%-1.5pp$10M
Oil & Gas Exploration & Production3.3%+2.2pp$10M
Airlines, Airports & Air Services3.2%+0.9pp$10M
Hardware, Equipment & Parts3.2%+2.3pp$9M
Tobacco3.0%+0.8pp$9M
Country
US85.4%-1.3pp
IL4.6%+1.6pp
CA4.1%+3.2pp
IE2.0%-1.0pp
Unknown1.1%+0.3pp
CN1.1%
BM0.5%-0.7pp
DE0.3%-0.2pp
Top 5: 23.8% · Top 10: 38.4% · Top 25: 62.9%
Top buys this quarter · 15
| PAAS Pan American Silver Corp.new | +$8M |
| TOST Toast, Inc.new | +$4M |
| CRI Carter's, Inc. | +$3M |
| RCKY Rocky Brands, Inc. | +$3M |
| SSD Simpson Manufacturing Co., Inc | +$2M |
| COHR Coherent, Inc.new | +$2M |
| ACIW ACI Worldwide, Inc. | +$2M |
| VST Vistra Corp.new | +$2M |
| TPB Turning Point Brands, Inc. | +$9M |
| EVTC EVERTEC, Inc. | +$1M |
Top sells this quarter · 15
| APGE Apogee Therapeutics, Inc.exit | −$7M |
| CRC California Resources Corporati | −$5M |
| ASML ASML Holding N.V.exit | −$3M |
| CELC Celcuity Inc.exit | −$2M |
| AKAM Akamai Technologies, Inc. | −$2M |
| ICE Intercontinental Exchange, Incexit | −$2M |
| BNTX BioNTech SE | −$1M |
| G Genpact Limited | −$1M |
| ITRN Ituran Location and Control Lt | −$12M |
| FOX Fox Corporationexit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $295M | 153 | +16.40% | +17.59% | -1.19% | +0.01B |
| 2025-12-31 | $288M | 242 | +12.61% | +17.72% | -5.11% | -0.05B |
| 2025-09-30 | $339M | 202 | +16.84% | +17.52% | -0.68% | +0.00B |
| 2025-06-30 | $314M | 198 | +19.64% | +14.94% | +4.70% | +0.02B |
| 2025-03-31 | $269M | 202 | +8.08% | +8.30% | -0.22% | -0.04B |
| 2024-12-31 | $320M | 286 | +20.33% | +24.89% | -4.56% | +0.07B |
| 2024-09-30 | $241M | 226 | +23.28% | +36.04% | -12.75% | -0.02B |
| 2024-06-30 | $239M | 249 | +6.41% | +24.49% | -18.08% | +0.01B |
| 2024-03-31 | $236M | 242 | +12.91% | +29.62% | -16.72% | +0.02B |
| 2023-12-31 | $199M | 258 | +10.02% | +26.18% | -16.16% | +0.04B |
| 2023-09-30 | $150M | 165 | +6.35% | +21.57% | -15.22% | -0.01B |
| 2023-06-30 | $169M | 173 | -1.50% | +19.42% | -20.93% | +0.00B |
| 2023-03-31 | $159M | 157 | -16.66% | -7.82% | -8.84% | -0.01B |
| 2022-12-31 | $162M | 242 | +2.80% | +7.56% | -4.76% | +0.04B |
| 2022-09-30 | $117M | 150 | -11.98% | -4.93% | -7.05% | +0.00B |
| 2022-06-30 | $128M | 150 | -11.44% | -16.11% | +4.67% | -0.00B |