Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.83%
baseline attrition
Rally response
-6.17%
trims into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TDAYUSA TODAY Co., Inc. | $76M | 29.8% | +143.9% | 6.5 yr |
| LILAKLiberty Latin America Lt | $27M | 10.8% | — | 0.8 yr |
| PUMPProPetro Holding Corp. | $26M | 10.1% | +96.1% | 1.0 yr |
| BTUPeabody Energy Corporati | $16M | 6.5% | +146.4% | 2.3 yr |
| CCThe Chemours Company | $15M | 6.1% | +67.0% | 0.8 yr |
| AMRAlpha Metallurgical Reso | $14M | 5.6% | +63.9% | 5.3 yr |
| INDVIndivior Pharmaceuticals | $12M | 4.9% | — | 0.3 yr |
| GNWGenworth Financial, Inc. | $10M | 3.9% | +14.5% | 2.3 yr |
| EXEExpand Energy Corporatio | $9M | 3.6% | +1.7% | 5.3 yr |
| CORZCore Scientific, Inc. | $9M | 3.5% | +106.6% | 0.3 yr |
| ABXAbacus Global Management | $9M | 3.4% | +8.4% | 2.8 yr |
| DALDelta Air Lines, Inc. | $7M | 2.6% | +54.5% | 0.3 yr |
| ACHRArcher Aviation Inc. | $6M | 2.2% | -27.3% | 2.8 yr |
| — | $4M | 1.7% | — | 0.3 yr |
| PEGPublic Service Enterpris | $4M | 1.6% | +1.5% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Publishing29.8%+9.0pp$76M
Coal12.1%+0.6pp$31M
Telecommunications Services11.2%$28M
Oil & Gas Equipment & Services10.1%$26M
Insurance - Life7.3%+1.6pp$18M
Chemicals - Specialty6.1%$15M
Drug Manufacturers - Specialty & Generic4.9%$12M
Oil & Gas Exploration & Production3.6%-2.4pp$9M
Software - Infrastructure3.5%$9M
Unknown2.9%-3.0pp$7M
Country
US86.1%-7.3pp
BM10.8%
Unknown2.9%-3.0pp
CA0.3%-0.5pp
Top 5: 63.2% · Top 10: 84.7% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TDAY | $32M | +0.05B | 143.9% |
| BTU | $8M | +0.01B | 146.4% |
| AMR | $9M | +0.01B | 63.9% |
| GNW | $4M | +0.00B | 14.5% |
| ABX | $5M | +0.00B | 8.4% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ACHR | $10M | -0.00B | -27.3% |
Top buys this quarter · 6
| — new | +$0M |
| LILAK Liberty Latin America Ltd. | +$0M |
| INDV Indivior Pharmaceuticals Incnew | +$12M |
| CORZ Core Scientific, Inc.new | +$9M |
| DAL Delta Air Lines, Inc.new | +$7M |
| MINE Mayfair Gold Corp.new | +$0M |
Top sells this quarter · 12
| ADES Advanced Emissions Solutions, exit | −$0M |
| HYHG ProShares - High Yield - Interexit | −$0M |
| — exit | −$0M |
| — exit | −$0M |
| PEG Public Service Enterprise Grou | −$6M |
| TDAY USA TODAY Co., Inc. | −$58M |
| CC The Chemours Company | −$10M |
| BTU Peabody Energy Corporation | −$16M |
| ACHR Archer Aviation Inc. | −$1M |
| PUMP ProPetro Holding Corp. | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $254M | 21 | +42.60% | +17.59% | +25.01% | -0.00B |
| 2025-12-31 | $213M | 21 | -10.70% | +17.72% | -28.42% | -0.00B |
| 2025-09-30 | $206M | 20 | -14.52% | +17.52% | -32.03% | +0.01B |
| 2025-06-30 | $183M | 19 | -14.49% | +14.94% | -29.43% | +0.02B |
| 2025-03-31 | $155M | 19 | -7.16% | +8.30% | -15.46% | -0.05B |
| 2024-12-31 | $270M | 18 | +27.60% | +24.89% | +2.71% | +0.03B |
| 2024-09-30 | $242M | 22 | +45.79% | +36.04% | +9.75% | -0.01B |
| 2024-06-30 | $229M | 22 | +84.77% | +24.49% | +60.28% | +0.00B |
| 2024-03-31 | $200M | 16 | +73.00% | +29.62% | +43.38% | +0.01B |
| 2023-12-31 | $187M | 12 | +70.31% | +26.18% | +44.13% | -0.01B |
| 2023-09-30 | $171M | 12 | +54.46% | +21.57% | +32.89% | -0.08B |
| 2023-06-30 | $182M | 12 | +3.35% | +19.42% | -16.07% | -0.07B |
| 2023-03-31 | $236M | 17 | -21.10% | -7.82% | -13.29% | +0.00B |
| 2022-12-31 | $229M | 20 | +3.30% | +7.56% | -4.26% | -0.01B |
| 2022-09-30 | $227M | 21 | -7.65% | -4.93% | -2.73% | -0.02B |
| 2022-06-30 | $263M | 23 | -18.11% | -16.11% | -2.00% | +0.02B |