Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.59%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.92%
baseline attrition
Rally response
-14.23%
trims into rallies
when a holding rises +10%+
Top positions · 22
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EPSNEpsilon Energy Ltd. | $21M | 12.3% | -9.0% | 6.5 yr |
| FENCFennec Pharmaceuticals I | $15M | 8.8% | +1.0% | 7.0 yr |
| SNDASonida Senior Living, In | $14M | 8.3% | +38.5% | 4.8 yr |
| LEELee Enterprises, Incorpo | $14M | 8.0% | -17.1% | 5.3 yr |
| ASIXAdvanSix Inc. | $13M | 7.3% | +11.6% | 2.0 yr |
| KDKyndryl Holdings, Inc. | $12M | 6.9% | -58.2% | 3.3 yr |
| — | $11M | 6.1% | — | 1.5 yr |
| GOGrocery Outlet Holding C | $10M | 5.7% | -49.6% | 1.3 yr |
| MOHMolina Healthcare, Inc. | $9M | 5.3% | -59.5% | 0.8 yr |
| AAPAdvance Auto Parts, Inc. | $9M | 5.1% | +37.1% | 2.8 yr |
| NSPInsperity, Inc. | $7M | 3.9% | -67.6% | 0.5 yr |
| MAIAMAIA Biotechnology, Inc. | $6M | 3.5% | -8.5% | 0.3 yr |
| — | $5M | 2.9% | — | 1.3 yr |
| SEGSeaport Entertainment Gr | $5M | 2.8% | +0.0% | 0.8 yr |
| EEFTEuronet Worldwide, Inc. | $5M | 2.7% | -37.9% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Exploration & Production12.3%-2.7pp$21M
Biotechnology12.2%+4.5pp$21M
Unknown8.9%-10.6pp$16M
Medical - Care Facilities8.3%+1.5pp$14M
Publishing8.0%+5.2pp$14M
Chemicals7.3%$13M
Information Technology Services6.9%+6.5pp$12M
Grocery Stores5.7%-2.1pp$10M
Medical - Healthcare Plans5.3%$9M
Specialty Retail5.1%-7.3pp$9M
Country
US85.4%+18.0pp
Unknown8.9%-10.6pp
CA3.1%-4.9pp
GG2.6%
Top 5: 44.6% · Top 10: 73.7% · Top 25: 100.0%
Top buys this quarter · 11
| LEE Lee Enterprises, Incorporated | +$10M |
| KD Kyndryl Holdings, Inc. | +$7M |
| MAIA MAIA Biotechnology, Inc.new | +$6M |
| BUR Burford Capital Limitednew | +$4M |
| NVRI Enviri Corporationnew | +$4M |
| ALIT Alight, Inc.new | +$2M |
| GO Grocery Outlet Holding Corp. | +$10M |
| NSP Insperity, Inc. | +$7M |
| HAIN The Hain Celestial Group, Inc.new | +$1M |
| MOH Molina Healthcare, Inc. | +$9M |
Top sells this quarter · 15
| GPRE Green Plains Inc.exit | −$9M |
| PRMB Primo Brands Corporationexit | −$9M |
| GT The Goodyear Tire & Rubber Comexit | −$4M |
| TEX Terex Corporationexit | −$4M |
| ASIX AdvanSix Inc. | −$11M |
| AAP Advance Auto Parts, Inc. | −$8M |
| MERC Mercer International Inc. | −$1M |
| FENC Fennec Pharmaceuticals Inc. | −$0M |
| EPSN Epsilon Energy Ltd. | −$16M |
| SNDA Sonida Senior Living, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $174M | 22 | -9.19% | +17.59% | -26.78% | +0.01B |
| 2025-12-31 | $176M | 22 | -13.56% | +17.72% | -31.28% | +0.03B |
| 2025-09-30 | $164M | 20 | +6.65% | +17.52% | -10.86% | -0.00B |
| 2025-06-30 | $179M | 20 | +16.77% | +14.94% | +1.83% | -0.02B |
| 2025-03-31 | $178M | 21 | -6.24% | +8.30% | -14.55% | +0.04B |
| 2024-12-31 | $151M | 19 | +19.00% | +24.89% | -5.89% | -0.01B |
| 2024-09-30 | $142M | 18 | +29.44% | +36.04% | -6.59% | -0.05B |
| 2024-06-30 | $183M | 20 | +18.84% | +24.49% | -5.65% | +0.04B |
| 2024-03-31 | $156M | 19 | +45.54% | +29.62% | +15.92% | -0.03B |
| 2023-12-31 | $161M | 23 | +25.62% | +26.18% | -0.55% | -0.01B |
| 2023-09-30 | $143M | 19 | +8.24% | +21.57% | -13.32% | +0.00B |
| 2023-06-30 | $150M | 21 | +17.72% | +19.42% | -1.71% | -0.06B |
| 2023-03-31 | $187M | 26 | -8.35% | -7.82% | -0.53% | +0.02B |
| 2022-12-31 | $167M | 26 | +4.93% | +7.56% | -2.63% | -0.01B |
| 2022-09-30 | $164M | 22 | +2.32% | -4.93% | +7.25% | -0.01B |
| 2022-06-30 | $168M | 21 | -14.08% | -16.11% | +2.03% | +0.03B |