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
+5.33%
steady accumulation
Rally response
-1.96%
trims into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TNETTriNet Group, Inc. | $659M | 54.1% | -53.7% | 8.5 yr |
| BOWLBowlero Corp. | $528M | 43.3% | — | 4.5 yr |
| CLVTClarivate Plc | $31M | 2.5% | -35.6% | 4.5 yr |
| XPOFXponential Fitness, Inc. | $1M | 0.1% | -27.7% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Staffing & Employment Services54.1%-11.9pp$659M
Entertainment43.3%+14.8pp$528M
Information Technology Services2.5%-3.0pp$31M
Leisure0.1%$1M
Country
US97.5%-0.3pp
GB2.5%+0.3pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.22B | 4 | -52.56% | +17.59% | -70.15% | +0.20B |
| 2025-12-31 | $1.65B | 4 | -32.68% | +17.72% | -50.40% | -0.11B |
| 2025-09-30 | $1.98B | 5 | -29.43% | +17.52% | -46.95% | +0.11B |
| 2025-06-30 | $2.02B | 5 | -24.27% | +14.94% | -39.21% | -0.00B |
| 2025-03-31 | $2.17B | 4 | -38.24% | +8.30% | -46.54% | +0.06B |
| 2024-12-31 | $2.41B | 4 | -22.83% | +24.89% | -47.71% | -0.07B |
| 2024-09-30 | $2.64B | 4 | -14.49% | +36.04% | -50.53% | -0.16B |
| 2024-06-30 | $2.84B | 4 | +3.46% | +24.49% | -21.03% | +0.25B |
| 2024-03-31 | $3.41B | 4 | +58.82% | +29.62% | +29.20% | -0.12B |
| 2023-12-31 | $3.21B | 4 | +71.06% | +26.18% | +44.88% | +0.27B |
| 2023-09-30 | $2.84B | 4 | +56.65% | +21.57% | +35.09% | -0.67B |
| 2023-06-30 | $2.94B | 4 | +17.24% | +19.42% | -2.18% | -0.52B |
| 2023-03-31 | $2.97B | 4 | -20.24% | -7.82% | -12.42% | +0.05B |
| 2022-12-31 | $2.46B | 4 | -5.11% | +7.56% | -12.67% | +0.11B |
| 2022-09-30 | $2.48B | 6 | -10.47% | -4.93% | -5.54% | +0.19B |
| 2022-06-30 | $2.56B | 5 | -20.65% | -16.11% | -4.54% | +0.15B |