Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+10.88%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.80%
steady accumulation
Rally response
+0.95%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FLYWFlywire Corporation | $159M | 9.1% | +22.5% | 1.5 yr |
| CLBTCellebrite DI Ltd. | $133M | 7.6% | -29.1% | 3.0 yr |
| GFFGriffon Corporation | $133M | 7.6% | +2.7% | 4.8 yr |
| SRESempra | $122M | 7.0% | +40.3% | 0.3 yr |
| EEFTEuronet Worldwide, Inc. | $105M | 6.0% | -37.9% | 3.8 yr |
| CHHChoice Hotels Internatio | $100M | 5.7% | -21.5% | 0.3 yr |
| FIVNFive9, Inc. | $88M | 5.1% | -44.1% | 1.3 yr |
| LRNStride, Inc. | $75M | 4.3% | -30.3% | 0.5 yr |
| SNSharkNinja, Inc. | $74M | 4.2% | +27.0% | 1.3 yr |
| POWLPowell Industries, Inc. | $74M | 4.2% | +6.3% | 1.0 yr |
| SHCSotera Health Company | $70M | 4.0% | +23.0% | 2.0 yr |
| PARPAR Technology Corporati | $65M | 3.7% | -78.3% | 5.0 yr |
| PHINPHINIA Inc. | $63M | 3.6% | +64.6% | 2.3 yr |
| GENIGenius Sports Limited | $58M | 3.3% | -55.7% | 2.5 yr |
| SEASSeaWorld Entertainment, | $56M | 3.2% | — | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure13.6%-1.3pp$238M
Information Technology Services9.1%+6.9pp$159M
Software - Application8.8%-1.9pp$153M
Conglomerates7.6%+0.3pp$133M
Diversified Utilities7.0%$122M
Travel Lodging5.7%$100M
Leisure5.4%-3.1pp$95M
Education & Training Services4.3%$75M
Furnishings, Fixtures & Appliances4.2%+3.1pp$74M
Electrical Equipment & Parts4.2%$74M
Country
US86.0%+16.4pp
IL7.6%+1.9pp
GB3.3%-14.2pp
BE2.5%+1.7pp
NL0.6%+0.5pp
Top 5: 37.2% · Top 10: 60.7% · Top 25: 95.4%
Top buys this quarter · 15
| SRE Sempranew | +$122M |
| CHH Choice Hotels International, Inew | +$100M |
| LRN Stride, Inc. | +$63M |
| CELH Celsius Holdings, Inc. | +$37M |
| CSR Centerspace | +$27M |
| TDOC Teladoc Health, Inc.new | +$23M |
| CLBT Cellebrite DI Ltd. | +$133M |
| FLYW Flywire Corporation | +$159M |
| PK Park Hotels & Resorts Inc.new | +$17M |
| SHC Sotera Health Company | +$13M |
Top sells this quarter · 15
| EQT EQT Corporationexit | −$59M |
| KNF Knife River Corporationexit | −$58M |
| PHIN PHINIA Inc. | −$55M |
| POWL Powell Industries, Inc. | −$39M |
| SN SharkNinja, Inc. | −$28M |
| DHI D.R. Horton, Inc.exit | −$16M |
| OC Owens Corningexit | −$12M |
| INVH Invitation Homes Inc. | −$10M |
| MCW Mister Car Wash, Inc.exit | −$9M |
| UNF UniFirst Corporationexit | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.75B | 39 | -14.35% | +17.59% | -31.94% | +0.23B |
| 2025-12-31 | $1.88B | 48 | -6.74% | +17.72% | -24.46% | +0.17B |
| 2025-09-30 | $1.78B | 55 | +3.38% | +17.52% | -14.13% | +0.23B |
| 2025-06-30 | $1.45B | 54 | +6.38% | +14.94% | -8.56% | +0.11B |
| 2025-03-31 | $1.30B | 56 | -5.75% | +8.30% | -14.05% | +0.12B |
| 2024-12-31 | $1.35B | 45 | +18.80% | +24.89% | -6.09% | +0.06B |
| 2024-09-30 | $1.20B | 39 | +34.60% | +36.04% | -1.44% | +0.11B |
| 2024-06-30 | $1.00B | 38 | +12.24% | +24.49% | -12.25% | -0.11B |
| 2024-03-31 | $1.21B | 33 | +39.71% | +29.62% | +10.08% | +0.07B |
| 2023-12-31 | $1.03B | 40 | +33.20% | +26.18% | +7.02% | +0.07B |
| 2023-09-30 | $795M | 41 | +28.25% | +21.57% | +6.68% | +0.04B |
| 2023-06-30 | $828M | 47 | +52.78% | +19.42% | +33.36% | -0.04B |
| 2023-03-31 | $764M | 41 | +18.86% | -7.82% | +26.68% | +0.23B |
| 2022-12-31 | $505M | 44 | +16.37% | +7.56% | +8.80% | +0.10B |
| 2022-09-30 | $344M | 43 | +8.76% | -4.93% | +13.69% | +0.02B |
| 2022-06-30 | $301M | 37 | -11.42% | -16.11% | +4.69% | +0.03B |