Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.36%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.88%
baseline attrition
Rally response
+0.19%
adds into rallies
when a holding rises +10%+
Top positions · 10
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XPOXPO Logistics, Inc. | $2.22B | 46.6% | +80.8% | 7.5 yr |
| TLNTalen Energy Corporation | $958M | 20.1% | +59.9% | 1.8 yr |
| QXOQXO, Inc. | $455M | 9.5% | +43.4% | 1.8 yr |
| RXORXO, Inc. | $411M | 8.6% | -23.5% | 3.5 yr |
| PFSIPennyMac Financial Servi | $396M | 8.3% | -11.7% | 5.3 yr |
| OXY-WTOccidental Petroleum Cor | $244M | 5.1% | — | 5.8 yr |
| BHCBausch Health Companies | $32M | 0.7% | -16.5% | 3.8 yr |
| IEIvanhoe Electric Inc. | $30M | 0.6% | +103.4% | 4.0 yr |
| — | $25M | 0.5% | — | 0.5 yr |
| — | $0M | 0.0% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Integrated Freight & Logistics46.6%+17.7pp$2.22B
Independent Power Producers20.1%+6.0pp$958M
Industrial - Distribution9.5%-5.4pp$455M
Trucking8.6%-3.8pp$411M
Financial - Mortgages8.3%-2.4pp$396M
Oil & Gas Exploration & Production5.1%-4.8pp$244M
Drug Manufacturers - Specialty & Generic0.7%-0.2pp$32M
Copper0.6%+0.3pp$30M
Unknown0.5%$25M
Country
US98.2%-0.6pp
CA1.3%+0.0pp
Unknown0.5%
Top 5: 93.1% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| RXO RXO, Inc. | +$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.77B | 10 | +39.28% | +17.59% | +21.69% | -0.32B |
| 2025-12-31 | $4.73B | 11 | +14.25% | +17.72% | -3.47% | -0.16B |
| 2025-09-30 | $4.95B | 9 | +18.85% | +17.52% | +1.33% | -0.15B |
| 2025-06-30 | $4.67B | 9 | -15.14% | +14.94% | -30.08% | -0.43B |
| 2025-03-31 | $4.25B | 10 | -34.29% | +8.30% | -42.59% | -0.23B |
| 2024-12-31 | $5.08B | 11 | -12.49% | +24.89% | -37.38% | -0.14B |
| 2024-09-30 | $5.07B | 12 | -0.59% | +36.04% | -36.63% | +2.77B |
| 2024-06-30 | $2.95B | 10 | +32.90% | +24.49% | +8.41% | -0.32B |
| 2024-03-31 | $3.52B | 10 | +93.81% | +29.62% | +64.19% | -0.13B |
| 2023-12-31 | $3.11B | 12 | +71.80% | +26.18% | +45.62% | -0.25B |
| 2023-09-30 | $2.88B | 12 | +66.92% | +21.57% | +45.35% | -0.23B |
| 2023-06-30 | $2.98B | 13 | +57.01% | +19.42% | +37.59% | +0.02B |
| 2023-03-31 | $2.18B | 14 | -12.68% | -7.82% | -4.86% | -0.16B |
| 2022-12-31 | $2.25B | 15 | +13.51% | +7.56% | +5.95% | -0.26B |
| 2022-09-30 | $2.21B | 17 | -1.97% | -4.93% | +2.95% | +0.04B |
| 2022-06-30 | $2.21B | 16 | -24.68% | -16.11% | -8.57% | +0.03B |