Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.59%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.88%
baseline attrition
Rally response
-5.41%
trims into rallies
when a holding rises +10%+
Top positions · 25
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DKSDICK'S Sporting Goods, I | $71M | 10.2% | +0.1% | 9.0 yr |
| VVVValvoline Inc. | $71M | 10.1% | -3.2% | 9.3 yr |
| LADLithia Motors, Inc. | $56M | 8.0% | -14.3% | 7.3 yr |
| USFDUS Foods Holding Corp. | $50M | 7.1% | +40.9% | 3.0 yr |
| CTRICenturi Holdings, Inc. | $46M | 6.7% | +78.2% | 0.8 yr |
| CCKCrown Holdings, Inc. | $44M | 6.2% | +13.6% | 7.8 yr |
| QTWOQ2 Holdings, Inc. | $42M | 6.0% | -40.9% | 3.0 yr |
| VERXVertex, Inc. | $40M | 5.8% | -66.0% | 5.8 yr |
| — | $32M | 4.6% | — | 2.8 yr |
| BLBlackLine, Inc. | $28M | 4.0% | -23.6% | 3.5 yr |
| WBIWaterBridge Infrastructu | $26M | 3.8% | — | 0.8 yr |
| EQIXEquinix, Inc. | $26M | 3.7% | +23.0% | 9.8 yr |
| CWANClearwater Analytics Hol | $21M | 3.0% | -11.8% | 1.0 yr |
| NENoble Corporation Plc | $20M | 2.8% | +124.7% | 1.0 yr |
| TYLTyler Technologies, Inc. | $18M | 2.5% | -41.1% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Application27.0%-18.7pp$189M
Specialty Retail10.2%-1.2pp$71M
Oil & Gas Refining & Marketing10.1%+1.4pp$71M
Auto - Dealerships8.0%-1.1pp$56M
Food Distribution7.1%+0.3pp$50M
Regulated Gas6.7%$46M
Packaging & Containers6.2%-0.6pp$44M
Unknown4.6%+0.1pp$32M
Residential Construction4.5%$32M
Oil & Gas Energy3.8%$26M
Country
US94.4%+2.2pp
Unknown4.6%+0.1pp
IL1.0%
Top 5: 42.0% · Top 10: 68.7% · Top 25: 100.0%
Top buys this quarter · 9
| UHAL-B U-Haul Holding Company | +$0M |
| TYL Tyler Technologies, Inc.new | +$18M |
| CVCO Cavco Industries, Inc.new | +$16M |
| COMP Compass, Inc.new | +$15M |
| WBI WaterBridge Infrastructure LLC | +$12M |
| QTWO Q2 Holdings, Inc. | +$42M |
| APPF AppFolio, Inc.new | +$8M |
| CLBT Cellebrite DI Ltd.new | +$7M |
| FOXF Fox Factory Holding Corp.new | +$4M |
Top sells this quarter · 15
| CWAN Clearwater Analytics Holdings, | −$35M |
| VAL Valaris Limitedexit | −$33M |
| USFD US Foods Holding Corp. | −$21M |
| CCK Crown Holdings, Inc. | −$18M |
| OS OneStream, Inc. Class A Commonexit | −$13M |
| CTRI Centuri Holdings, Inc. | −$8M |
| ARCB ArcBest Corporationexit | −$8M |
| NE Noble Corporation Plc | −$15M |
| ASO Academy Sports and Outdoors, Iexit | −$4M |
| SKY Champion Homes, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $698M | 25 | -11.89% | +17.59% | -29.49% | -0.03B |
| 2025-12-31 | $772M | 24 | -23.13% | +17.72% | -40.85% | -0.00B |
| 2025-09-30 | $800M | 22 | -10.97% | +17.52% | -28.49% | +0.05B |
| 2025-06-30 | $828M | 21 | +7.88% | +14.94% | -7.06% | -0.00B |
| 2025-03-31 | $784M | 18 | -3.24% | +8.30% | -11.54% | -0.01B |
| 2024-12-31 | $963M | 17 | +33.23% | +24.89% | +8.34% | -0.08B |
| 2024-09-30 | $925M | 17 | +41.26% | +36.04% | +5.22% | -0.07B |
| 2024-06-30 | $907M | 20 | +24.53% | +24.49% | +0.04% | +0.04B |
| 2024-03-31 | $914M | 19 | +32.59% | +29.62% | +2.97% | -0.05B |
| 2023-12-31 | $855M | 18 | +36.24% | +26.18% | +10.06% | -0.09B |
| 2023-09-30 | $795M | 17 | +26.87% | +21.57% | +5.30% | +0.04B |
| 2023-06-30 | $773M | 18 | +27.70% | +19.42% | +8.27% | +0.04B |
| 2023-03-31 | $725M | 15 | +4.55% | -7.82% | +12.36% | -0.02B |
| 2022-12-31 | $639M | 16 | +10.87% | +7.56% | +3.31% | -0.08B |
| 2022-09-30 | $648M | 16 | -2.29% | -4.93% | +2.64% | +0.08B |
| 2022-06-30 | $580M | 16 | -17.01% | -16.11% | -0.90% | +0.01B |