Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.00%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.25%
baseline attrition
Rally response
-3.96%
trims into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FSTRL.B. Foster Company | $30M | 23.4% | +41.8% | 8.8 yr |
| NKTRNektar Therapeutics | $20M | 15.9% | — | 1.0 yr |
| NSPInsperity, Inc. | $13M | 10.5% | -67.6% | 2.0 yr |
| MLYSMineralys Therapeutics, | $12M | 9.5% | +70.6% | 1.3 yr |
| SRIStoneridge, Inc. | $12M | 9.4% | +5.2% | 1.5 yr |
| FOXFFox Factory Holding Corp | $11M | 8.8% | -29.5% | 0.3 yr |
| CULPCulp, Inc. | $5M | 4.0% | -45.2% | 6.3 yr |
| CMTCore Molding Technologie | $5M | 3.9% | +47.4% | 1.0 yr |
| RGNXREGENXBIO Inc. | $4M | 3.3% | +17.2% | 1.3 yr |
| UFIUnifi, Inc. | $3M | 2.4% | -25.8% | 1.5 yr |
| — | $3M | 2.1% | — | 1.3 yr |
| RZLTRezolute, Inc. | $3M | 2.0% | +5.2% | 0.8 yr |
| FARMFarmer Bros. Co. | $2M | 2.0% | -42.8% | 5.3 yr |
| ELDNEledon Pharmaceuticals, | $2M | 1.5% | -9.1% | 1.3 yr |
| PFXPhenixFIN Corporation | $2M | 1.3% | -27.7% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology32.2%+7.9pp$41M
Railroads23.4%+6.1pp$30M
Auto - Parts18.2%+13.2pp$23M
Staffing & Employment Services10.5%+4.4pp$13M
Apparel - Manufacturers6.4%-2.2pp$8M
Chemicals - Specialty3.9%$5M
Unknown2.1%-0.2pp$3M
Packaged Foods2.0%-1.0pp$2M
Asset Management1.3%-2.9pp$2M
Country
US97.9%+1.5pp
Unknown2.1%-0.2pp
Top 5: 68.7% · Top 10: 91.1% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $127M | 15 | +29.44% | +17.59% | +11.85% | -0.00B |
| 2025-12-31 | $130M | 18 | +8.97% | +17.72% | -8.75% | -0.04B |
| 2025-09-30 | $192M | 20 | +34.46% | +17.52% | +16.94% | +0.02B |
| 2025-06-30 | $136M | 20 | +8.92% | +14.94% | -6.02% | -0.03B |
| 2025-03-31 | $149M | 20 | -13.89% | +8.30% | -22.20% | +0.02B |
| 2024-12-31 | $159M | 16 | +5.18% | +24.89% | -19.71% | +0.03B |
| 2024-09-30 | $119M | 13 | +6.11% | +36.04% | -29.92% | -0.00B |
| 2024-06-30 | $117M | 13 | +3.37% | +24.49% | -21.12% | +0.01B |
| 2024-03-31 | $116M | 13 | +18.18% | +29.62% | -11.44% | -0.04B |
| 2023-12-31 | $154M | 14 | +41.58% | +26.18% | +15.40% | +0.00B |
| 2023-09-30 | $135M | 13 | +43.51% | +21.57% | +21.95% | -0.02B |
| 2023-06-30 | $154M | 13 | +29.16% | +19.42% | +9.74% | -0.01B |
| 2023-03-31 | $157M | 16 | +5.16% | -7.82% | +12.98% | -0.07B |
| 2022-12-31 | $185M | 19 | +13.36% | +7.56% | +5.80% | -0.02B |
| 2022-09-30 | $177M | 20 | -8.17% | -4.93% | -3.25% | +0.00B |
| 2022-06-30 | $188M | 20 | -17.02% | -16.11% | -0.91% | -0.04B |