Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.02%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.50%
baseline attrition
Rally response
-7.05%
trims into rallies
when a holding rises +10%+
Top positions · 8
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GPGIGPGI, Inc. | $50M | 15.8% | +57.3% | 1.5 yr |
| CLBTCellebrite DI Ltd. | $47M | 15.1% | -29.1% | 3.0 yr |
| SNEXStoneX Group Inc. | $47M | 14.9% | +5.6% | 6.0 yr |
| AGYSAgilysys, Inc. | $46M | 14.8% | -1.9% | 6.5 yr |
| MGNIMagnite, Inc. | $41M | 13.1% | +4.1% | 5.8 yr |
| WINAWinmark Corporation | $36M | 11.4% | +38.9% | 10.3 yr |
| IRMDIRadimed Corporation | $32M | 10.2% | +86.1% | 6.5 yr |
| RHLDResolute Holdings Manage | $15M | 4.8% | +417.9% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Manufacturing - Metal Fabrication15.8%+8.8pp$50M
Software - Infrastructure15.1%+0.6pp$47M
Financial - Capital Markets14.9%+0.2pp$47M
Software - Application14.8%-5.0pp$46M
Advertising Agencies13.1%+1.5pp$41M
Apparel - Footwear & Accessories11.4%+1.4pp$36M
Medical - Devices10.2%-6.9pp$32M
Specialty Business Services4.8%+3.3pp$15M
Country
US84.9%+11.0pp
IL15.1%-11.0pp
Top 5: 73.6% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 5
| AGYS Agilysys, Inc. | +$21M |
| SNEX StoneX Group Inc. | +$15M |
| CLBT Cellebrite DI Ltd. | +$13M |
| GPGI GPGI, Inc. | +$8M |
| MGNI Magnite, Inc. | +$41M |
Top sells this quarter · 1
| IRMD IRadimed Corporation | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $315M | 8 | +24.60% | +17.59% | +7.01% | +0.05B |
| 2025-12-31 | $316M | 8 | +28.09% | +17.72% | +10.38% | -0.09B |
| 2025-09-30 | $388M | 9 | +42.68% | +17.52% | +25.16% | +0.01B |
| 2025-06-30 | $336M | 9 | +47.70% | +14.94% | +32.76% | -0.01B |
| 2025-03-31 | $268M | 11 | +20.73% | +8.30% | +12.43% | -0.03B |
| 2024-12-31 | $350M | 11 | +40.29% | +24.89% | +15.40% | -0.03B |
| 2024-09-30 | $331M | 10 | +42.98% | +36.04% | +6.94% | +0.03B |
| 2024-06-30 | $260M | 10 | +20.39% | +24.49% | -4.11% | -0.08B |
| 2024-03-31 | $328M | 13 | -6.06% | +29.62% | -35.68% | -0.06B |
| 2023-12-31 | $398M | 13 | -2.83% | +26.18% | -29.01% | +0.01B |
| 2023-09-30 | $328M | 10 | -14.37% | +21.57% | -35.93% | +0.03B |
| 2023-06-30 | $298M | 10 | -11.00% | +19.42% | -30.42% | -0.21B |
| 2023-03-31 | $614M | 10 | -10.36% | -7.82% | -2.55% | +0.03B |
| 2022-12-31 | $575M | 10 | +3.89% | +7.56% | -3.67% | -0.10B |
| 2022-09-30 | $654M | 10 | +2.27% | -4.93% | +7.20% | -0.08B |
| 2022-06-30 | $721M | 10 | -17.50% | -16.11% | -1.38% | +0.09B |