Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.00%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
+0.14%
adds into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| REPXRiley Exploration Permia | $65M | 45.9% | +32.4% | 5.3 yr |
| — | $46M | 32.6% | — | 3.0 yr |
| EPSNEpsilon Energy Ltd. | $18M | 12.5% | -9.0% | 0.5 yr |
| METCBRamaco Resources, Inc. | $13M | 9.0% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Exploration & Production58.4%+4.1pp$83M
Unknown32.6%-5.6pp$46M
Coal9.0%+1.5pp$13M
Country
US67.4%+5.6pp
Unknown32.6%-5.6pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| REPX | $52M | +0.02B | 32.4% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 1
| EPSN Epsilon Energy Ltd. | +$1M |
Top sells this quarter · 2
| METCB Ramaco Resources, Inc. | −$0M |
| — | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $142M | 4 | +30.24% | +17.59% | +12.64% | -0.06B |
| 2025-12-31 | $143M | 4 | -13.36% | +17.72% | -31.08% | -0.05B |
| 2025-09-30 | $195M | 3 | +7.91% | +17.52% | -9.61% | +0.07B |
| 2025-06-30 | $115M | 3 | -2.45% | +14.94% | -17.39% | +0.03B |
| 2025-03-31 | $96M | 3 | -7.09% | +8.30% | -15.39% | -0.01B |
| 2024-12-31 | $117M | 3 | +23.85% | +24.89% | -1.04% | -0.02B |
| 2024-09-30 | $115M | 3 | -12.14% | +36.04% | -48.17% | -0.00B |
| 2024-06-30 | $122M | 3 | -16.69% | +24.49% | -41.19% | -0.01B |
| 2024-03-31 | $158M | 4 | -7.67% | +29.62% | -37.30% | -0.02B |
| 2023-12-31 | $148M | 4 | -12.87% | +26.18% | -39.05% | -0.01B |
| 2023-09-30 | $179M | 5 | +20.40% | +21.57% | -1.17% | +0.03B |
| 2023-06-30 | $167M | 5 | -1.05% | +19.42% | -20.48% | +0.02B |
| 2023-03-31 | $154M | 4 | -9.30% | -7.82% | -1.48% | -0.01B |
| 2022-12-31 | $145M | 4 | +19.77% | +7.56% | +12.21% | -0.01B |
| 2022-09-30 | $128M | 3 | -26.17% | -4.93% | -21.24% | +0.00B |
| 2022-06-30 | $167M | 3 | -11.71% | -16.11% | +4.40% | -0.10B |