Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.54%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.33%
baseline attrition
Rally response
-11.06%
trims into rallies
when a holding rises +10%+
Top positions · 14
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DARDarling Ingredients Inc. | $26M | 13.8% | +98.0% | 1.3 yr |
| ENVAEnova International, Inc | $23M | 12.1% | +40.7% | 5.3 yr |
| CCOICogent Communications Ho | $20M | 10.8% | -67.6% | 3.5 yr |
| AMZNAmazon.com, Inc. | $20M | 10.4% | +9.5% | 6.3 yr |
| METAMeta Platforms, Inc. | $19M | 10.1% | -0.4% | 5.8 yr |
| GOOGAlphabet Inc. | $14M | 7.5% | +84.3% | 6.5 yr |
| NWSANews Corporation | $12M | 6.3% | -7.7% | 4.5 yr |
| RUSHARush Enterprises, Inc. | $12M | 6.3% | — | 3.5 yr |
| TPBTurning Point Brands, In | $11M | 5.8% | +46.5% | 2.5 yr |
| LCLendingClub Corporation | $10M | 5.3% | +38.8% | 5.5 yr |
| IACIAC InterActive Corp. | $10M | 5.2% | +6.3% | 5.0 yr |
| UHAL-BU-Haul Holding Company | $6M | 3.4% | — | 3.5 yr |
| DIBS1stdibs.Com, Inc. | $4M | 1.9% | +80.9% | 2.0 yr |
| LGIHLGI Homes, Inc. | $2M | 1.1% | -40.5% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information22.8%-4.9pp$43M
Financial - Credit Services17.4%+5.1pp$33M
Packaged Foods13.8%$26M
Specialty Retail12.3%+2.3pp$23M
Telecommunications Services10.8%-10.0pp$20M
Entertainment6.3%-0.2pp$12M
Auto - Dealerships6.3%+1.7pp$12M
Tobacco5.8%+1.7pp$11M
Rental & Leasing Services3.4%-0.8pp$6M
Residential Construction1.1%-0.6pp$2M
Country
US100.0%+8.1pp
Top 5: 57.2% · Top 10: 88.4% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 14
| UHAL-B U-Haul Holding Company | −$0M |
| RUSHA Rush Enterprises, Inc. | −$0M |
| DAR Darling Ingredients Inc. | −$30M |
| ENVA Enova International, Inc. | −$8M |
| META Meta Platforms, Inc. | −$6M |
| AMZN Amazon.com, Inc. | −$6M |
| CCOI Cogent Communications Holdings | −$6M |
| GOOG Alphabet Inc. | −$5M |
| TPB Turning Point Brands, Inc. | −$5M |
| NWSA News Corporation | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $190M | 14 | +6.67% | +17.59% | -10.92% | -0.08B |
| 2025-12-31 | $270M | 14 | -4.62% | +17.72% | -22.34% | +0.00B |
| 2025-09-30 | $261M | 15 | -3.09% | +17.52% | -20.61% | -0.02B |
| 2025-06-30 | $284M | 17 | +12.24% | +14.94% | -2.70% | +0.01B |
| 2025-03-31 | $262M | 16 | +4.13% | +8.30% | -4.17% | -0.05B |
| 2024-12-31 | $352M | 17 | +23.20% | +24.89% | -1.68% | -0.09B |
| 2024-09-30 | $421M | 18 | +39.02% | +36.04% | +2.98% | -0.03B |
| 2024-06-30 | $395M | 18 | +10.21% | +24.49% | -14.28% | -0.02B |
| 2024-03-31 | $424M | 17 | +34.70% | +29.62% | +5.08% | -0.02B |
| 2023-12-31 | $422M | 17 | +50.29% | +26.18% | +24.12% | -0.02B |
| 2023-09-30 | $377M | 18 | +19.77% | +21.57% | -1.80% | +0.01B |
| 2023-06-30 | $402M | 16 | +16.30% | +19.42% | -3.12% | -0.05B |
| 2023-03-31 | $376M | 17 | -25.64% | -7.82% | -17.82% | -0.08B |
| 2022-12-31 | $387M | 18 | -5.75% | +7.56% | -13.31% | -0.01B |
| 2022-09-30 | $418M | 18 | -11.47% | -4.93% | -6.54% | +0.02B |
| 2022-06-30 | $446M | 19 | -23.81% | -16.11% | -7.70% | -0.02B |