Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.32%
adds when stocks drop
when a holding falls −10%+
Middle response
+4.92%
steady accumulation
Rally response
-17.76%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TRTXTPG RE Finance Trust, In | $21M | 20.0% | +4.3% | 4.5 yr |
| FBRTFranklin BSP Realty Trus | $19M | 18.3% | -26.4% | 2.0 yr |
| NMMNavios Maritime Partners | $7M | 6.5% | +72.8% | 5.0 yr |
| — | $6M | 5.6% | — | 0.5 yr |
| WDWalker & Dunlop, Inc. | $5M | 4.7% | -45.7% | 0.3 yr |
| CMTGClaros Mortgage Trust, I | $4M | 3.8% | -36.2% | 1.3 yr |
| MCFTMasterCraft Boat Holding | $4M | 3.8% | +19.1% | 1.0 yr |
| DUOTDuos Technologies Group, | $4M | 3.8% | +21.6% | 0.5 yr |
| TNPTsakos Energy Navigation | $4M | 3.7% | — | 2.3 yr |
| — | $4M | 3.7% | — | 1.0 yr |
| — | $3M | 3.2% | — | 0.8 yr |
| SUNSSunrise Realty Trust, In | $3M | 3.2% | -24.5% | 1.3 yr |
| ATEXAnterix Inc. | $3M | 3.2% | +4.3% | 0.3 yr |
| GPMTGranite Point Mortgage T | $3M | 3.1% | -41.9% | 4.8 yr |
| MAGNMagnera Corp. | $3M | 2.7% | -47.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
REIT - Mortgage45.2%+6.7pp$48M
Unknown14.3%+11.7pp$15M
Marine Shipping6.5%-0.5pp$7M
Financial - Mortgages4.7%$5M
Auto - Recreational Vehicles3.8%$4M
Software - Application3.8%$4M
Oil & Gas Midstream3.7%+0.9pp$4M
REIT - Residential3.2%-1.5pp$3M
Telecommunications Services3.2%$3M
Manufacturing - Textiles2.7%-3.4pp$3M
Country
US75.5%-12.1pp
Unknown14.3%+11.7pp
MC6.5%-0.5pp
GR3.7%+0.9pp
Top 5: 55.2% · Top 10: 74.0% · Top 25: 100.0%
Top buys this quarter · 10
| FBRT Franklin BSP Realty Trust, Inc | +$12M |
| TRTX TPG RE Finance Trust, Inc. | +$5M |
| WD Walker & Dunlop, Inc.new | +$5M |
| ATEX Anterix Inc.new | +$3M |
| KOS Kosmos Energy Ltd.new | +$2M |
| DUOT Duos Technologies Group, Inc. | +$1M |
| UAMY United States Antimony Corporanew | +$0M |
| UHAL-B U-Haul Holding Companynew | +$0M |
| — | +$0M |
| — | +$6M |
Top sells this quarter · 15
| CDZI Cadiz Inc. | −$5M |
| WULF TeraWulf Inc.exit | −$4M |
| BYD Boyd Gaming Corporationexit | −$4M |
| JAKK JAKKS Pacific, Inc.exit | −$4M |
| AEHR Aehr Test Systems | −$3M |
| BRSP BrightSpire Capital, Inc.exit | −$3M |
| NMM Navios Maritime Partners L.P. | −$2M |
| MFA MFA Financial, Inc.exit | −$2M |
| MCFT MasterCraft Boat Holdings, Inc | −$1M |
| BZH Beazer Homes USA, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $106M | 24 | -0.24% | +17.59% | -17.83% | -0.00B |
| 2025-12-31 | $112M | 27 | -1.33% | +17.72% | -19.05% | -0.00B |
| 2025-09-30 | $113M | 28 | +0.24% | +17.52% | -17.27% | +0.01B |
| 2025-06-30 | $92M | 22 | -5.10% | +14.94% | -20.04% | +0.01B |
| 2025-03-31 | $88M | 23 | -2.35% | +8.30% | -10.65% | +0.01B |
| 2024-12-31 | $86M | 23 | +24.77% | +24.89% | -0.12% | +0.01B |
| 2024-09-30 | $70M | 17 | +24.69% | +36.04% | -11.35% | +0.00B |
| 2024-06-30 | $65M | 15 | +11.31% | +24.49% | -13.18% | +0.01B |
| 2024-03-31 | $58M | 14 | +32.43% | +29.62% | +2.80% | +0.00B |
| 2023-12-31 | $48M | 15 | +28.97% | +26.18% | +2.79% | -0.03B |
| 2023-09-30 | $74M | 20 | +43.22% | +21.57% | +21.66% | +0.01B |
| 2023-06-30 | $72M | 23 | +29.15% | +19.42% | +9.73% | +0.02B |
| 2023-03-31 | $48M | 20 | -12.46% | -7.82% | -4.64% | -0.00B |
| 2022-12-31 | $45M | 17 | +12.29% | +7.56% | +4.73% | +0.00B |
| 2022-09-30 | $37M | 19 | -15.53% | -4.93% | -10.60% | -0.00B |
| 2022-06-30 | $49M | 27 | -21.15% | -16.11% | -5.04% | -0.01B |