Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+10.08%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.36%
baseline attrition
Rally response
-6.17%
trims into rallies
when a holding rises +10%+
Top positions · 12
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NNINelnet, Inc. | $215M | 40.0% | +17.4% | 8.8 yr |
| BOMNBoston Omaha Corporation | $65M | 12.1% | — | 9.0 yr |
| CNRCore Natural Resources, | $63M | 11.7% | +36.6% | 1.3 yr |
| ABGAsbury Automotive Group, | $56M | 10.5% | -11.5% | 4.5 yr |
| ARLPAlliance Resource Partne | $39M | 7.3% | +11.9% | 10.3 yr |
| CCOICogent Communications Ho | $24M | 4.5% | -67.6% | 1.0 yr |
| PCYOPure Cycle Corporation | $19M | 3.6% | -3.9% | 3.3 yr |
| CRMTAmerica's Car-Mart, Inc. | $16M | 3.0% | -72.0% | 6.3 yr |
| RMAXRE/MAX Holdings, Inc. | $15M | 2.9% | -31.2% | 4.3 yr |
| OMCCOld Market Capital Corpo | $11M | 2.1% | — | 2.0 yr |
| LEN-BLennar Corporation | $9M | 1.7% | — | 0.5 yr |
| NVRNVR, Inc. | $3M | 0.6% | -9.0% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services42.1%+3.8pp$226M
Coal19.0%+0.0pp$102M
Auto - Dealerships13.5%-7.1pp$72M
Advertising Agencies12.1%-1.7pp$65M
Telecommunications Services4.5%$24M
Regulated Water3.6%-0.1pp$19M
Real Estate - Services2.9%-1.8pp$15M
Residential Construction2.3%$12M
Country
US100.0%+0.0pp
Top 5: 81.7% · Top 10: 97.7% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $538M | 12 | -6.66% | +17.59% | -24.25% | -0.05B |
| 2025-12-31 | $607M | 12 | -6.19% | +17.72% | -23.91% | +0.00B |
| 2025-09-30 | $631M | 11 | +0.40% | +17.52% | -17.12% | +0.01B |
| 2025-06-30 | $651M | 10 | +11.92% | +14.94% | -3.02% | +0.03B |
| 2025-03-31 | $590M | 9 | +9.95% | +8.30% | +1.64% | +0.03B |
| 2024-12-31 | $583M | 10 | +11.90% | +24.89% | -12.98% | -0.02B |
| 2024-09-30 | $591M | 9 | +10.28% | +36.04% | -25.75% | -0.11B |
| 2024-06-30 | $659M | 10 | -3.22% | +24.49% | -27.71% | -0.03B |
| 2024-03-31 | $664M | 11 | +0.81% | +29.62% | -28.82% | -0.00B |
| 2023-12-31 | $678M | 11 | +7.19% | +26.18% | -18.99% | +0.05B |
| 2023-09-30 | $621M | 13 | +11.97% | +21.57% | -9.60% | -0.02B |
| 2023-06-30 | $689M | 12 | +6.28% | +19.42% | -13.15% | -0.06B |
| 2023-03-31 | $691M | 13 | -1.23% | -7.82% | +6.59% | -0.08B |
| 2022-12-31 | $733M | 11 | +5.47% | +7.56% | -2.09% | +0.04B |
| 2022-09-30 | $662M | 11 | -11.30% | -4.93% | -6.37% | +0.06B |
| 2022-06-30 | $678M | 10 | +0.78% | -16.11% | +16.89% | -0.06B |