Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.56%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.34%
baseline attrition
Rally response
-9.63%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EXEExpand Energy Corporatio | $222M | 27.6% | +1.7% | 5.3 yr |
| VSTVistra Corp. | $95M | 11.8% | +28.7% | 6.3 yr |
| NRGNRG Energy, Inc. | $84M | 10.4% | +55.0% | 5.8 yr |
| TLNTalen Energy Corporation | $82M | 10.2% | +59.9% | 1.8 yr |
| ALLYAlly Financial Inc. | $82M | 10.2% | +11.1% | 10.3 yr |
| ACTEnact Holdings, Inc. | $53M | 6.6% | +20.0% | 4.8 yr |
| GASSStealthGas Inc. | $44M | 5.4% | +62.5% | 10.5 yr |
| WSBCWesBanco, Inc. | $31M | 3.9% | +16.6% | 1.8 yr |
| CHRDChord Energy Corporation | $27M | 3.3% | +32.8% | 3.8 yr |
| AFRMAffirm Holdings, Inc. | $24M | 2.9% | +1.4% | 1.8 yr |
| — | $16M | 2.0% | — | 2.8 yr |
| BBTBeacon Financial Corp. | $11M | 1.4% | +19.3% | 1.5 yr |
| CNKCinemark Holdings, Inc. | $7M | 0.9% | +16.0% | 0.5 yr |
| NATLNCR Atleos Corporation | $6M | 0.8% | +65.2% | 2.5 yr |
| FPHFive Point Holdings, LLC | $6M | 0.7% | -9.4% | 9.0 yr |
Portfolio composition (YoY)
Industry mix
Independent Power Producers32.4%+15.9pp$260M
Oil & Gas Exploration & Production30.9%+15.6pp$249M
Financial - Credit Services10.2%+4.9pp$82M
Insurance - Specialty6.6%+4.0pp$53M
Marine Shipping5.4%+3.5pp$44M
Banks - Regional4.5%+3.1pp$36M
Software - Infrastructure2.9%+1.8pp$24M
Unknown2.7%-1.9pp$21M
Asset Management1.4%+1.2pp$11M
Entertainment0.9%$7M
Country
US91.9%-1.6pp
GR5.4%+3.5pp
Unknown2.7%-1.9pp
BM0.0%+0.0pp
Top 5: 70.1% · Top 10: 92.3% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $804M | 24 | +25.20% | +17.59% | +7.61% | -0.83B |
| 2025-12-31 | $1.68B | 24 | +31.13% | +17.72% | +13.41% | -0.13B |
| 2025-09-30 | $1.83B | 23 | +44.60% | +17.52% | +27.08% | -0.06B |
| 2025-06-30 | $1.82B | 23 | +50.58% | +14.94% | +35.64% | -0.34B |
| 2025-03-31 | $1.72B | 23 | +22.51% | +8.30% | +14.21% | +0.04B |
| 2024-12-31 | $1.65B | 23 | +53.60% | +24.89% | +28.71% | -0.11B |
| 2024-09-30 | $1.62B | 23 | +53.27% | +36.04% | +17.24% | +0.33B |
| 2024-06-30 | $1.19B | 20 | +54.47% | +24.49% | +29.98% | -0.00B |
| 2024-03-31 | $1.17B | 20 | +69.65% | +29.62% | +40.03% | -0.37B |
| 2023-12-31 | $1.21B | 20 | +25.27% | +26.18% | -0.91% | +0.18B |
| 2023-09-30 | $946M | 19 | +22.48% | +21.57% | +0.91% | -0.08B |
| 2023-06-30 | $945M | 17 | +16.69% | +19.42% | -2.73% | -0.12B |
| 2023-03-31 | $955M | 18 | -4.88% | -7.82% | +2.94% | -0.05B |
| 2022-12-31 | $1.06B | 18 | +6.27% | +7.56% | -1.29% | -0.09B |
| 2022-09-30 | $1.09B | 21 | +3.84% | -4.93% | +8.77% | -0.10B |
| 2022-06-30 | $1.14B | 23 | -8.70% | -16.11% | +7.41% | -0.21B |