Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.02%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.43%
baseline attrition
Rally response
-14.61%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MDYState Street SPDR S&P MI | $13M | 11.5% | — | 0.3 yr |
| MLMMartin Marietta Material | $10M | 9.1% | +23.8% | 8.3 yr |
| DELLDell Technologies Inc. | $9M | 7.8% | +83.4% | 6.5 yr |
| — | $8M | 7.1% | — | 3.0 yr |
| CHDNChurchill Downs Incorpor | $7M | 6.1% | -18.8% | 7.0 yr |
| UTHRUnited Therapeutics Corp | $7M | 6.0% | +92.4% | 2.8 yr |
| VMIValmont Industries, Inc. | $7M | 5.7% | +40.8% | 10.5 yr |
| GNRCGenerac Holdings Inc. | $6M | 5.4% | +54.2% | 1.8 yr |
| ICUIICU Medical, Inc. | $6M | 5.2% | -7.0% | 7.0 yr |
| BYDBoyd Gaming Corporation | $5M | 4.6% | +26.0% | 4.5 yr |
| OSWOneSpaWorld Holdings Lim | $5M | 4.3% | +37.9% | 1.3 yr |
| — | $5M | 4.3% | — | 0.3 yr |
| LAURLaureate Education, Inc. | $5M | 4.3% | +70.4% | 3.0 yr |
| PSMTPriceSmart, Inc. | $5M | 4.2% | +73.0% | 4.0 yr |
| FCNFTI Consulting, Inc. | $4M | 3.5% | +7.7% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Asset Management11.5%$13M
Unknown11.4%+1.0pp$13M
Gambling, Resorts & Casinos10.6%-0.5pp$12M
Construction Materials9.1%+2.4pp$10M
Computer Hardware7.8%+4.9pp$9M
Biotechnology6.0%-2.9pp$7M
Conglomerates5.7%+3.5pp$7M
Industrial - Machinery5.4%+2.2pp$6M
Medical - Instruments & Supplies5.2%+1.7pp$6M
Leisure4.3%+2.8pp$5M
Country
US84.2%-3.8pp
Unknown11.4%+1.0pp
BS4.3%+2.8pp
Top 5: 41.5% · Top 10: 68.3% · Top 25: 100.0%
Top buys this quarter · 2
| MDY State Street SPDR S&P MIDCAP 4new | +$0M |
| — new | +$0M |
Top sells this quarter · 15
| MLM Martin Marietta Materials, Inc | −$33M |
| CHDN Churchill Downs Incorporated | −$30M |
| DELL Dell Technologies Inc. | −$27M |
| PSMT PriceSmart, Inc. | −$19M |
| LAUR Laureate Education, Inc. | −$17M |
| GNRC Generac Holdings Inc. | −$17M |
| BYD Boyd Gaming Corporation | −$16M |
| UTHR United Therapeutics Corporatio | −$15M |
| VMI Valmont Industries, Inc. | −$15M |
| ICUI ICU Medical, Inc. | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $114M | 20 | +9.53% | +17.59% | -8.07% | -0.34B |
| 2025-12-31 | $452M | 25 | +1.95% | +17.72% | -15.76% | -0.12B |
| 2025-09-30 | $569M | 27 | +1.70% | +17.52% | -15.82% | -0.15B |
| 2025-06-30 | $674M | 28 | +7.65% | +14.94% | -7.29% | -0.05B |
| 2025-03-31 | $712M | 28 | +4.20% | +8.30% | -4.11% | -0.10B |
| 2024-12-31 | $870M | 26 | +22.31% | +24.89% | -2.57% | -0.13B |
| 2024-09-30 | $994M | 28 | +28.06% | +36.04% | -7.98% | -0.04B |
| 2024-06-30 | $917M | 27 | +7.77% | +24.49% | -16.72% | -0.05B |
| 2024-03-31 | $982M | 28 | +14.03% | +29.62% | -15.59% | -0.04B |
| 2023-12-31 | $935M | 28 | +12.99% | +26.18% | -13.19% | -0.03B |
| 2023-09-30 | $915M | 27 | +15.60% | +21.57% | -5.97% | -0.02B |
| 2023-06-30 | $989M | 27 | +14.08% | +19.42% | -5.34% | +0.00B |
| 2023-03-31 | $944M | 26 | -7.01% | -7.82% | +0.81% | -0.21B |
| 2022-12-31 | $1.06B | 26 | +7.74% | +7.56% | +0.18% | -0.18B |
| 2022-09-30 | $1.15B | 29 | -6.30% | -4.93% | -1.37% | -0.12B |
| 2022-06-30 | $1.36B | 32 | -14.96% | -16.11% | +1.15% | +0.08B |