Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.23%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.40%
steady accumulation
Rally response
+4.83%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WCCBWest Coast Community Ban | $14M | 3.6% | +23.1% | 1.8 yr |
| SBNCSouthern BancShares (N.C | $13M | 3.3% | +44.5% | 7.3 yr |
| PLBCPlumas Bancorp | $12M | 3.0% | +16.0% | 9.5 yr |
| OVLYOak Valley Bancorp | $10M | 2.7% | +32.9% | 9.5 yr |
| EXSRExchange Bank (Santa Ros | $10M | 2.5% | +39.5% | 7.3 yr |
| TSBKTimberland Bancorp, Inc. | $9M | 2.4% | +35.0% | 9.3 yr |
| MSBCMission Bancorp | $8M | 2.2% | +12.2% | 7.3 yr |
| FINNFirst National of Nebras | $8M | 2.1% | +41.4% | 7.3 yr |
| FCNCAFirst Citizens BancShare | $8M | 2.1% | — | 6.8 yr |
| FOTBFirst Ottawa Bancshares, | $7M | 1.9% | +21.6% | 7.3 yr |
| FXNCFirst National Corporati | $7M | 1.9% | +23.3% | 7.5 yr |
| MFGIMerchants Financial Grou | $7M | 1.9% | +48.1% | 7.3 yr |
| ORPBOregon Pacific Bancorp | $7M | 1.9% | +37.1% | 7.3 yr |
| CSHXCashmere Valley Bank | $7M | 1.8% | +21.1% | 7.3 yr |
| ALPIBAlpine Banks of Colorado | $7M | 1.8% | — | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional98.3%-0.4pp$379M
Banks0.9%$3M
Unknown0.8%-0.5pp$3M
Country
US99.2%+0.5pp
Unknown0.8%-0.5pp
Top 5: 15.1% · Top 10: 25.9% · Top 25: 49.4%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SBNC | $9M | +0.00B | 44.5% |
| FINN | $9M | +0.00B | 41.4% |
| EXSR | $7M | +0.00B | 39.5% |
| OVLY | $9M | +0.00B | 32.9% |
| WCCB | $12M | +0.00B | 23.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| FITB Fifth Third Bancorpnew | +$3M |
| TBBK The Bancorp, Inc. | +$1M |
| FDBC Fidelity D & D Bancorp, Inc. | +$1M |
| HCBC High Country Bancorp, Inc. | +$1M |
| DIMC Dimeco, Inc. | +$1M |
| CFFI C&F Financial Corporation | +$0M |
| SVBT SVB & T Corporationnew | +$0M |
| FOTB First Ottawa Bancshares, Inc. | +$0M |
| FTFI First Berlin Bancorp, Inc. | +$0M |
| FFDF FFD Financial Corporation | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $385M | 100 | +29.17% | +17.59% | +11.58% | -0.01B |
| 2025-12-31 | $372M | 100 | +18.82% | +17.72% | +1.10% | -0.01B |
| 2025-09-30 | $349M | 96 | +20.87% | +17.52% | +3.35% | -0.02B |
| 2025-06-30 | $342M | 95 | +25.03% | +14.94% | +10.09% | -0.01B |
| 2025-03-31 | $337M | 100 | +20.59% | +8.30% | +12.28% | -0.02B |
| 2024-12-31 | $362M | 106 | +16.07% | +24.89% | -8.82% | -0.02B |
| 2024-09-30 | $347M | 107 | +23.66% | +36.04% | -12.37% | +0.01B |
| 2024-06-30 | $303M | 105 | +11.13% | +24.49% | -13.36% | +0.00B |
| 2024-03-31 | $300M | 103 | +6.39% | +29.62% | -23.23% | +0.00B |
| 2023-12-31 | $319M | 99 | +5.80% | +26.18% | -20.37% | -0.01B |
| 2023-09-30 | $284M | 101 | -4.12% | +21.57% | -25.69% | -0.00B |
| 2023-06-30 | $282M | 103 | -5.52% | +19.42% | -24.94% | +0.02B |
| 2023-03-31 | $277M | 101 | -13.74% | -7.82% | -5.93% | +0.01B |
| 2022-12-31 | $290M | 96 | +6.46% | +7.56% | -1.10% | -0.02B |
| 2022-09-30 | $294M | 102 | -0.45% | -4.93% | +4.48% | +0.00B |
| 2022-06-30 | $294M | 105 | -12.56% | -16.11% | +3.55% | +0.01B |