Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.32%
baseline attrition
Rally response
-6.71%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| COMPCompass, Inc. | $47M | 16.8% | -16.3% | 2.5 yr |
| ALLTAllot Ltd. | $31M | 11.1% | +16.6% | 1.8 yr |
| — | $30M | 10.9% | — | 1.8 yr |
| POWWOutdoor Holding Company | $24M | 8.5% | +45.7% | 1.3 yr |
| INSEInspired Entertainment, | $19M | 6.9% | -16.5% | 3.8 yr |
| — | $15M | 5.4% | — | 0.3 yr |
| REALThe RealReal, Inc. | $13M | 4.5% | +68.5% | 2.3 yr |
| DIBS1stdibs.Com, Inc. | $11M | 4.1% | +80.9% | 0.5 yr |
| TOIThe Oncology Institute, | $9M | 3.1% | +169.3% | 0.8 yr |
| LOVEThe Lovesac Company | $8M | 2.9% | -18.8% | 0.5 yr |
| DPGDuff & Phelps Utility an | $8M | 2.7% | — | 1.5 yr |
| PTONPeloton Interactive, Inc | $8M | 2.7% | -32.1% | 0.3 yr |
| STKSThe ONE Group Hospitalit | $7M | 2.6% | -40.5% | 5.0 yr |
| NTZNatuzzi S.p.A. | $7M | 2.4% | -37.7% | 5.0 yr |
| JFRNuveen Floating Rate Inc | $6M | 2.2% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application18.2%-8.3pp$51M
Unknown16.3%+3.2pp$45M
Software - Infrastructure11.1%+2.4pp$31M
Aerospace & Defense8.5%+6.4pp$24M
Gambling, Resorts & Casinos6.9%-4.5pp$19M
Luxury Goods6.3%-1.8pp$18M
Asset Management - Income6.1%+4.0pp$17M
Furnishings, Fixtures & Appliances5.3%+2.2pp$15M
Leisure4.6%$13M
Specialty Retail4.3%+4.1pp$12M
Country
US70.1%-5.0pp
Unknown16.3%+3.2pp
IL11.1%+2.4pp
IT2.4%-0.7pp
Top 5: 54.2% · Top 10: 74.2% · Top 25: 97.9%
Top buys this quarter · 15
| PTON Peloton Interactive, Inc.new | +$8M |
| DIBS 1stdibs.Com, Inc. | +$5M |
| LOVE The Lovesac Company | +$5M |
| XPOF Xponential Fitness, Inc. | +$4M |
| ZVIA Zevia PBCnew | +$1M |
| IMMR Immersion Corporation | +$1M |
| SKYX SKYX Platforms Corp.new | +$1M |
| STGW Stagwell Inc.new | +$0M |
| ALLT Allot Ltd. | +$31M |
| NTZ Natuzzi S.p.A. | +$0M |
Top sells this quarter · 12
| TREX Trex Company, Inc.exit | −$9M |
| EZPW EZCORP, Inc.exit | −$9M |
| EGAN eGain Corporationexit | −$8M |
| REAL The RealReal, Inc. | −$4M |
| NVO Novo Nordisk A/Sexit | −$3M |
| FOSL Fossil Group, Inc. | −$1M |
| TOI The Oncology Institute, Inc. | −$1M |
| INSE Inspired Entertainment, Inc. | −$0M |
| TSLA Tesla, Inc. | −$0M |
| STKS The ONE Group Hospitality, Inc | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $278M | 36 | +12.19% | +17.59% | -5.40% | +0.02B |
| 2025-12-31 | $321M | 30 | +28.51% | +17.72% | +10.79% | -0.01B |
| 2025-09-30 | $299M | 30 | +53.12% | +17.52% | +35.60% | -0.03B |
| 2025-06-30 | $261M | 27 | +32.60% | +14.94% | +17.66% | +0.01B |
| 2025-03-31 | $248M | 23 | +19.02% | +8.30% | +10.72% | +0.00B |
| 2024-12-31 | $269M | 25 | +26.23% | +24.89% | +1.35% | +0.02B |
| 2024-09-30 | $188M | 21 | -2.29% | +36.04% | -38.33% | +0.01B |
| 2024-06-30 | $162M | 22 | -20.65% | +24.49% | -45.14% | +0.02B |
| 2024-03-31 | $160M | 20 | -6.45% | +29.62% | -36.07% | +0.02B |
| 2023-12-31 | $143M | 20 | -5.80% | +26.18% | -31.98% | +0.01B |
| 2023-09-30 | $134M | 18 | +12.48% | +21.57% | -9.09% | -0.00B |
| 2023-06-30 | $151M | 20 | +16.48% | +19.42% | -2.94% | +0.00B |
| 2023-03-31 | $142M | 17 | -21.04% | -7.82% | -13.22% | -0.05B |
| 2022-12-31 | $191M | 23 | +22.01% | +7.56% | +14.45% | -0.01B |
| 2022-09-30 | $166M | 26 | -7.64% | -4.93% | -2.71% | +0.00B |
| 2022-06-30 | $179M | 24 | -28.35% | -16.11% | -12.24% | -0.01B |