Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.07%
baseline attrition
Rally response
-13.21%
trims into rallies
when a holding rises +10%+
Top positions · 3
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VVXV2X, Inc. | $169M | 63.1% | +39.7% | 3.8 yr |
| TWITitan International, Inc | $61M | 22.9% | -17.6% | 2.3 yr |
| RYAMRayonier Advanced Materi | $38M | 14.0% | +92.5% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Aerospace & Defense63.1%-24.3pp$169M
Agricultural - Machinery22.9%+10.3pp$61M
Chemicals14.0%$38M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TWI | $100M | -0.02B | -17.6% |
Top buys this quarter · 1
| RYAM Rayonier Advanced Materials In | +$35M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $268M | 3 | +26.43% | +17.59% | +8.84% | -0.16B |
| 2025-12-31 | $369M | 3 | +13.85% | +17.72% | -3.87% | -0.19B |
| 2025-09-30 | $582M | 2 | +1.96% | +17.52% | -15.55% | -0.21B |
| 2025-06-30 | $713M | 2 | +5.70% | +14.94% | -9.24% | -0.10B |
| 2025-03-31 | $795M | 2 | +0.05% | +8.30% | -8.26% | +0.00B |
| 2024-12-31 | $759M | 2 | -5.44% | +24.89% | -30.33% | -0.12B |
| 2024-09-30 | $1.03B | 3 | -0.50% | +36.04% | -36.53% | -0.17B |
| 2024-06-30 | $1.03B | 5 | -10.46% | +24.49% | -34.95% | -0.01B |
| 2024-03-31 | $1.08B | 5 | +15.80% | +29.62% | -13.83% | -0.29B |
| 2023-12-31 | $1.38B | 2 | +12.47% | +26.18% | -13.70% | +0.10B |
| 2023-09-30 | $1.42B | 2 | +45.93% | +21.57% | +24.36% | +0.06B |
| 2023-06-30 | $1.31B | 2 | +24.77% | +8.68% | +16.09% | -0.05B |
| 2023-03-31 | $1.08B | 2 | -3.80% | +7.46% | -11.26% | -0.00B |
| 2022-12-31 | $1.13B | 2 | +16.64% | +7.56% | +9.08% | -0.01B |
| 2022-09-30 | $975M | 2 | — | — | — | +0.68B |
| 2022-06-30 | $300M | 1 | — | — | — | -0.07B |