Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.78%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.17%
baseline attrition
Rally response
-0.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FIXComfort Systems USA, Inc | $18M | 11.9% | +329.0% | 3.3 yr |
| LRCXLam Research Corporation | $11M | 7.1% | +196.1% | 1.5 yr |
| NVDANVIDIA Corporation | $10M | 6.9% | +60.9% | 8.5 yr |
| STRLSterling Infrastructure, | $8M | 5.4% | +259.7% | 1.3 yr |
| LOPEGrand Canyon Education, | $8M | 5.1% | -1.7% | 8.5 yr |
| FCFSFirstCash Holdings, Inc | $8M | 5.0% | +58.0% | 3.8 yr |
| AROCArchrock, Inc. | $7M | 4.6% | +36.9% | 3.3 yr |
| NWPXNWPX Infrastructure, Inc | $6M | 3.9% | +88.5% | 6.5 yr |
| ROSTRoss Stores, Inc. | $6M | 3.7% | +71.2% | 8.5 yr |
| FANGDiamondback Energy, Inc. | $5M | 3.3% | +27.1% | 6.5 yr |
| TTEKTetra Tech, Inc. | $4M | 2.5% | +3.7% | 7.3 yr |
| BBWBuild-A-Bear Workshop, I | $4M | 2.5% | +1.9% | 3.8 yr |
| LAURLaureate Education, Inc. | $3M | 2.3% | +70.4% | 2.0 yr |
| ENVAEnova International, Inc | $3M | 2.3% | +40.7% | 1.8 yr |
| NGSNatural Gas Services Gro | $3M | 2.0% | +73.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Engineering & Construction19.8%+11.6pp$30M
Semiconductors16.0%+6.1pp$24M
Oil & Gas Equipment & Services11.4%+4.9pp$17M
Education & Training Services9.3%+2.1pp$14M
Financial - Credit Services8.9%-4.0pp$13M
Residential Construction5.3%-2.4pp$8M
Oil & Gas Exploration & Production4.7%+0.1pp$7M
Manufacturing - Metal Fabrication3.9%-0.7pp$6M
Apparel - Retail3.7%+0.4pp$6M
Specialty Retail2.5%-2.4pp$4M
Country
US99.7%+0.4pp
Unknown0.3%-0.4pp
Top 5: 36.4% · Top 10: 56.9% · Top 25: 86.4%
Top buys this quarter · 7
| — new | +$0M |
| LBRT Liberty Energy Inc.new | +$3M |
| PR Permian Resources Corporationnew | +$2M |
| NPKI NPK International Inc.new | +$1M |
| EZPW EZCORP, Inc. | +$1M |
| PDFS PDF Solutions, Inc.new | +$1M |
| STRL Sterling Infrastructure, Inc. | +$1M |
Top sells this quarter · 15
| AGM Federal Agricultural Mortgage exit | −$5M |
| FIX Comfort Systems USA, Inc. | −$15M |
| TPB Turning Point Brands, Inc. | −$3M |
| TER Teradyne, Inc. | −$2M |
| MMSI Merit Medical Systems, Inc.exit | −$2M |
| BBW Build-A-Bear Workshop, Inc. | −$2M |
| TYL Tyler Technologies, Inc.exit | −$2M |
| HQY HealthEquity, Inc.exit | −$2M |
| JLL Jones Lang LaSalle Incorporate | −$2M |
| CVCO Cavco Industries, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $151M | 40 | +43.78% | +17.59% | +26.19% | -0.02B |
| 2025-12-31 | $152M | 37 | +15.07% | +17.72% | -2.64% | -0.00B |
| 2025-09-30 | $149M | 38 | +15.20% | +17.52% | -2.32% | +0.01B |
| 2025-06-30 | $125M | 39 | +10.59% | +14.94% | -4.35% | -0.00B |
| 2025-03-31 | $114M | 37 | -8.72% | +8.30% | -17.03% | -0.02B |
| 2024-12-31 | $156M | 37 | +16.88% | +24.89% | -8.01% | -0.00B |
| 2024-09-30 | $155M | 41 | +29.28% | +36.04% | -6.76% | -0.02B |
| 2024-06-30 | $156M | 41 | +11.92% | +24.49% | -12.58% | +0.00B |
| 2024-03-31 | $165M | 43 | +36.86% | +29.62% | +7.24% | -0.00B |
| 2023-12-31 | $146M | 42 | +37.79% | +26.18% | +11.61% | -0.01B |
| 2023-09-30 | $141M | 46 | +34.17% | +21.57% | +12.60% | -0.01B |
| 2023-06-30 | $153M | 52 | +36.39% | +19.42% | +16.97% | +0.00B |
| 2023-03-31 | $134M | 49 | +1.67% | -7.82% | +9.49% | +0.01B |
| 2022-12-31 | $110M | 42 | +9.87% | +7.56% | +2.31% | -0.00B |
| 2022-09-30 | $101M | 44 | -3.36% | -4.93% | +1.57% | -0.00B |
| 2022-06-30 | $109M | 44 | -16.22% | -16.11% | -0.11% | -0.01B |