Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.07%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.71%
baseline attrition
Rally response
-7.79%
trims into rallies
when a holding rises +10%+
Top positions · 16
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CENXCentury Aluminum Company | $34M | 17.0% | +216.2% | 4.0 yr |
| CSTMConstellium SE | $16M | 8.0% | +143.6% | 5.8 yr |
| AAAlcoa Corporation | $16M | 7.7% | +119.9% | 3.5 yr |
| HBMHudbay Minerals Inc. | $15M | 7.3% | +175.7% | 3.3 yr |
| FCXFreeport-McMoRan Inc. | $14M | 7.0% | +57.4% | 3.5 yr |
| CRSCarpenter Technology Cor | $14M | 7.0% | +118.3% | 1.0 yr |
| SXTSensient Technologies Co | $14M | 6.7% | +18.1% | 0.5 yr |
| ATIATI Inc. | $13M | 6.6% | +179.6% | 7.3 yr |
| KEXKirby Corporation | $12M | 5.9% | +31.6% | 2.0 yr |
| SAROStandardAero, Inc. | $11M | 5.2% | -3.0% | 1.0 yr |
| HMYHarmony Gold Mining Comp | $10M | 5.1% | +5.3% | 0.3 yr |
| DHID.R. Horton, Inc. | $9M | 4.5% | +9.2% | 2.5 yr |
| BLDRBuilders FirstSource, In | $8M | 4.0% | -34.1% | 4.0 yr |
| AMBPArdagh Metal Packaging S | $8M | 3.8% | +49.4% | 2.0 yr |
| CCJCameco Corporation | $5M | 2.3% | +164.4% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Aluminum32.8%+8.4pp$66M
Copper14.4%-3.1pp$29M
Manufacturing - Metal Fabrication13.7%+4.6pp$28M
Chemicals - Specialty6.7%$14M
Marine Shipping5.9%$12M
Aerospace & Defense5.2%$11M
Gold5.1%$10M
Residential Construction4.5%-2.0pp$9M
Construction4.0%-2.9pp$8M
Packaging & Containers3.8%+0.7pp$8M
Country
US73.5%-7.4pp
CA9.6%-1.2pp
FR8.0%+2.8pp
ZA5.1%
LU3.8%+0.7pp
Top 5: 47.1% · Top 10: 78.6% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CENX | $12M | +0.03B | 216.2% |
| ATI | $9M | +0.02B | 179.6% |
| HBM | $9M | +0.02B | 175.7% |
| AA | $8M | +0.01B | 119.9% |
| CSTM | $5M | +0.01B | 143.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| BLDR | $7M | -0.00B | -34.1% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $201M | 16 | +92.74% | +17.59% | +75.14% | -0.00B |
| 2025-12-31 | $179M | 17 | +51.67% | +17.72% | +33.96% | -0.02B |
| 2025-09-30 | $172M | 18 | +15.84% | +17.52% | -1.68% | +0.00B |
| 2025-06-30 | $151M | 16 | -1.06% | +14.94% | -16.00% | +0.02B |
| 2025-03-31 | $105M | 14 | -21.22% | +8.30% | -29.52% | -0.02B |
| 2024-12-31 | $137M | 17 | -4.29% | +24.89% | -29.17% | -0.01B |
| 2024-09-30 | $160M | 15 | +18.49% | +36.04% | -17.55% | -0.02B |
| 2024-06-30 | $183M | 15 | +14.30% | +24.49% | -10.19% | -0.02B |
| 2024-03-31 | $205M | 15 | +31.70% | +29.62% | +2.08% | +0.00B |
| 2023-12-31 | $185M | 13 | +17.57% | +26.18% | -8.60% | +0.02B |
| 2023-09-30 | $147M | 13 | +13.70% | +21.57% | -7.87% | -0.01B |
| 2023-06-30 | $173M | 13 | +19.47% | +19.42% | +0.05% | +0.02B |
| 2023-03-31 | $131M | 12 | -15.68% | -7.82% | -7.87% | +0.03B |
| 2022-12-31 | $105M | 9 | +7.77% | +7.56% | +0.21% | +0.02B |
| 2022-09-30 | $79M | 9 | -2.36% | -4.93% | +2.57% | -0.02B |
| 2022-06-30 | $97M | 9 | -17.68% | -16.11% | -1.57% | -0.04B |