Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+12.41%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.68%
steady accumulation
Rally response
+0.69%
adds into rallies
when a holding rises +10%+
Top positions · 4
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IRDMIridium Communications I | $143M | 54.9% | +4.3% | 9.5 yr |
| HEI-AHEICO Corporation | $42M | 16.2% | — | 9.5 yr |
| KMXCarMax, Inc. | $38M | 14.7% | -46.6% | 9.5 yr |
| ADBEAdobe Inc. | $37M | 14.3% | -36.6% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Telecommunications Services54.9%+8.6pp$143M
Aerospace & Defense16.2%-13.9pp$42M
Auto - Dealerships14.7%-5.1pp$38M
Software - Application14.3%$37M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| KMX | $44M | -0.02B | -46.6% |
Top buys this quarter · 1
| ADBE Adobe Inc. | +$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $260M | 4 | -17.97% | +17.59% | -35.56% | -0.06B |
| 2025-12-31 | $252M | 5 | -39.59% | +17.72% | -57.30% | +0.04B |
| 2025-09-30 | $223M | 4 | -40.45% | +17.52% | -57.97% | +0.05B |
| 2025-06-30 | $262M | 4 | +3.07% | +14.94% | -11.88% | +0.03B |
| 2025-03-31 | $220M | 4 | -6.07% | +8.30% | -14.37% | +0.01B |
| 2024-12-31 | $225M | 4 | -19.35% | +24.89% | -44.24% | -0.00B |
| 2024-09-30 | $239M | 5 | -20.45% | +36.04% | -56.49% | -0.03B |
| 2024-06-30 | $237M | 5 | -44.77% | +24.49% | -69.26% | -0.00B |
| 2024-03-31 | $253M | 5 | -37.64% | +29.62% | -67.26% | +0.05B |
| 2023-12-31 | $260M | 5 | -9.20% | +26.18% | -35.37% | +0.02B |
| 2023-09-30 | $251M | 5 | +5.41% | +21.57% | -16.16% | +0.00B |
| 2023-06-30 | $317M | 5 | +41.38% | +19.42% | +21.96% | -0.00B |
| 2023-03-31 | $301M | 5 | +24.51% | -7.82% | +32.32% | -0.01B |
| 2022-12-31 | $268M | 5 | +9.74% | +7.56% | +2.18% | -0.00B |
| 2022-09-30 | $249M | 5 | +3.96% | -4.93% | +8.88% | +0.01B |
| 2022-06-30 | $234M | 5 | -6.39% | -16.11% | +9.72% | -0.00B |