Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.01%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.60%
steady accumulation
Rally response
-9.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WDCWestern Digital Corporat | $379M | 12.3% | +571.9% | 8.3 yr |
| EQXEquinox Gold Corp. | $281M | 9.1% | +110.2% | 2.3 yr |
| STXSeagate Technology Holdi | $209M | 6.8% | +366.3% | 2.0 yr |
| CLFCleveland-Cliffs Inc. | $175M | 5.7% | +2.8% | 1.3 yr |
| TFIITFI International Inc. | $148M | 4.8% | +42.3% | 3.3 yr |
| BKDBrookdale Senior Living | $112M | 3.6% | +118.5% | 1.0 yr |
| SNDKSandisk Corporation | $106M | 3.4% | +1234.5% | 1.3 yr |
| BTIBritish American Tobacco | $93M | 3.0% | +47.5% | 1.0 yr |
| JDJD.com, Inc. | $89M | 2.9% | -28.5% | 3.3 yr |
| LPXLouisiana-Pacific Corpor | $81M | 2.6% | -19.9% | 1.8 yr |
| CVSCVS Health Corporation | $75M | 2.4% | +10.0% | 0.5 yr |
| MTArcelorMittal S.A. | $74M | 2.4% | +83.0% | 1.3 yr |
| AAPAdvance Auto Parts, Inc. | $68M | 2.2% | +37.1% | 1.8 yr |
| ASTLAlgoma Steel Group Inc. | $66M | 2.1% | -23.2% | 4.5 yr |
| XPOXPO Logistics, Inc. | $62M | 2.0% | +80.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Computer Hardware19.1%+5.9pp$588M
Steel10.9%+8.1pp$334M
Gold10.3%+6.8pp$318M
Medical - Healthcare Plans8.3%+6.1pp$256M
Trucking7.3%+0.9pp$225M
Specialty Retail6.7%-9.9pp$205M
Tobacco4.3%$131M
Medical - Care Facilities3.6%$112M
Hardware, Equipment & Parts3.4%+2.6pp$106M
Auto - Parts3.2%+1.2pp$99M
Country
US66.4%+6.0pp
CA17.3%-0.8pp
SG6.8%+3.0pp
GB3.0%
CN2.9%-9.9pp
LU2.4%
IE1.2%-3.8pp
Top 5: 38.8% · Top 10: 54.4% · Top 25: 82.7%
Top buys this quarter · 15
| CLF Cleveland-Cliffs Inc. | +$71M |
| XPO XPO Logistics, Inc.new | +$62M |
| WAB Westinghouse Air Brake Technolnew | +$54M |
| ASO Academy Sports and Outdoors, Inew | +$47M |
| UNH UnitedHealth Group Incorporate | +$43M |
| LPX Louisiana-Pacific Corporation | +$38M |
| ICLR ICON Public Limited Companynew | +$37M |
| BTG B2Gold Corp.new | +$37M |
| RYAM Rayonier Advanced Materials Innew | +$36M |
| JD JD.com, Inc. | +$32M |
Top sells this quarter · 15
| WDC Western Digital Corporation | −$265M |
| SNDK Sandisk Corporation | −$204M |
| AA Alcoa Corporation | −$157M |
| HCC Warrior Met Coal, Inc. | −$139M |
| SEE Sealed Air Corporationexit | −$89M |
| B Barrick Mining Corporationexit | −$81M |
| TECK Teck Resources Limitedexit | −$72M |
| STX Seagate Technology Holdings pl | −$183M |
| CAR Avis Budget Group, Inc. | −$47M |
| LVS Las Vegas Sands Corp. | −$39M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.07B | 44 | +106.68% | +17.59% | +89.09% | -0.37B |
| 2025-12-31 | $3.03B | 38 | +68.84% | +17.72% | +51.12% | +0.17B |
| 2025-09-30 | $2.48B | 40 | +38.55% | +17.52% | +21.03% | -0.19B |
| 2025-06-30 | $2.00B | 39 | +21.11% | +14.94% | +6.17% | +0.38B |
| 2025-03-31 | $1.37B | 35 | +1.92% | +8.30% | -6.38% | +0.09B |
| 2024-12-31 | $1.37B | 29 | +19.51% | +24.89% | -5.38% | -0.29B |
| 2024-09-30 | $1.76B | 28 | +41.96% | +36.04% | +5.92% | +0.06B |
| 2024-06-30 | $1.46B | 27 | +25.98% | +24.49% | +1.49% | -0.11B |
| 2024-03-31 | $1.58B | 29 | +17.30% | +29.62% | -12.32% | +0.19B |
| 2023-12-31 | $1.28B | 27 | +17.01% | +26.18% | -9.17% | +0.31B |
| 2023-09-30 | $859M | 23 | +9.44% | +21.57% | -12.13% | +0.05B |
| 2023-06-30 | $785M | 20 | -1.11% | +19.42% | -20.53% | -0.16B |
| 2023-03-31 | $1.02B | 27 | -9.38% | -7.82% | -1.56% | +0.28B |
| 2022-12-31 | $679M | 19 | +5.13% | +7.56% | -2.43% | -0.46B |
| 2022-09-30 | $1.08B | 26 | -6.51% | -4.93% | -1.59% | +0.27B |
| 2022-06-30 | $866M | 22 | -15.07% | -16.11% | +1.04% | +0.10B |