Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.64%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.22%
baseline attrition
Rally response
-1.46%
trims into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FEIMFrequency Electronics, I | $83M | 42.4% | +182.8% | 6.5 yr |
| CGNTCognyte Software Ltd. | $57M | 29.0% | +3.8% | 4.5 yr |
| MGNIMagnite, Inc. | $33M | 17.0% | +4.1% | 5.8 yr |
| MCHXMarchex, Inc. | $23M | 11.6% | -4.9% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Communication Equipment42.4%+24.6pp$83M
Software - Infrastructure29.0%-2.4pp$57M
Advertising Agencies28.6%-13.6pp$56M
Country
US71.0%+2.4pp
IL29.0%-2.4pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| FEIM | $29M | +0.05B | 182.8% |
| CGNT | $52M | +0.00B | 3.8% |
| MGNI | $46M | +0.00B | 4.1% |
| MCHX | $24M | -0.00B | -4.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MCHX | $24M | -0.00B | -4.9% |
Top sells this quarter · 1
| THRM Gentherm Incorporatedexit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $196M | 4 | +48.38% | +17.59% | +30.79% | -0.00B |
| 2025-12-31 | $237M | 5 | +50.52% | +17.72% | +32.80% | +0.01B |
| 2025-09-30 | $197M | 5 | +57.37% | +17.52% | +39.86% | -0.03B |
| 2025-06-30 | $227M | 5 | +65.82% | +14.94% | +50.88% | -0.03B |
| 2025-03-31 | $165M | 5 | +15.05% | +8.30% | +6.75% | -0.01B |
| 2024-12-31 | $210M | 6 | +57.20% | +24.89% | +32.32% | +0.01B |
| 2024-09-30 | $169M | 8 | +62.38% | +36.04% | +26.34% | -0.02B |
| 2024-06-30 | $180M | 8 | +2.52% | +24.49% | -21.97% | -0.03B |
| 2024-03-31 | $194M | 8 | +36.19% | +29.62% | +6.57% | -0.07B |
| 2023-12-31 | $232M | 8 | +16.28% | +26.18% | -9.90% | -0.02B |
| 2023-09-30 | $206M | 8 | +11.09% | +21.57% | -10.47% | -0.02B |
| 2023-06-30 | $329M | 9 | +53.21% | +19.42% | +33.79% | -0.06B |
| 2023-03-31 | $272M | 9 | -32.68% | -7.82% | -24.86% | -0.01B |
| 2022-12-31 | $289M | 9 | +19.16% | +7.56% | +11.60% | -0.01B |
| 2022-09-30 | $253M | 10 | -7.49% | -4.93% | -2.56% | -0.01B |
| 2022-06-30 | $280M | 12 | -37.64% | -16.11% | -21.53% | +0.08B |