Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.76%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.80%
steady accumulation
Rally response
-5.98%
trims into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TFCTruist Financial Corpora | $18M | 10.1% | +17.1% | 3.3 yr |
| FISIFinancial Institutions, | $18M | 10.0% | +32.7% | 5.5 yr |
| BBTBeacon Financial Corp. | $15M | 8.5% | +19.3% | 1.3 yr |
| CFGCitizens Financial Group | $15M | 8.3% | +51.7% | 1.0 yr |
| HWBKHawthorn Bancshares, Inc | $12M | 6.4% | +22.5% | 7.3 yr |
| WFCWells Fargo & Company | $11M | 6.4% | +13.3% | 6.0 yr |
| PKBKParke Bancorp, Inc. | $11M | 5.9% | +56.0% | 4.5 yr |
| AXAxos Financial, Inc. | $10M | 5.4% | +31.9% | 6.3 yr |
| QQQInvesco QQQ Trust, Serie | $9M | 5.1% | — | 7.3 yr |
| ARBVAmerican Riviera Bancorp | $9M | 5.0% | +23.2% | 0.8 yr |
| VOOVanguard S&P 500 ETF | $9M | 4.9% | — | 7.3 yr |
| TCBXThird Coast Bancshares, | $8M | 4.3% | +13.4% | 2.8 yr |
| CBNKCapital Bancorp, Inc. | $7M | 3.8% | +6.5% | 3.8 yr |
| FVCBFVCBankcorp, Inc. | $7M | 3.7% | +45.7% | 3.3 yr |
| IBCPIndependent Bank Corpora | $5M | 2.6% | +11.8% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional71.0%-12.7pp$127M
Asset Management19.2%+4.1pp$35M
Banks - Diversified6.4%$11M
Regulated Electric1.5%$3M
Aerospace & Defense1.1%$2M
Financial - Capital Markets0.8%$2M
Country
US100.0%+0.0pp
Top 5: 43.3% · Top 10: 71.1% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| AX | $15M | +0.00B | 31.9% |
| FISI | $14M | +0.00B | 32.7% |
| PKBK | $8M | +0.00B | 56.0% |
| MRBK | $11M | +0.00B | 36.2% |
| TFC | $13M | +0.00B | 17.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 5
| WFC Wells Fargo & Company | +$11M |
| TFC Truist Financial Corporation | +$4M |
| SCHW The Charles Schwab Corporation | +$1M |
| TCBX Third Coast Bancshares, Inc. | +$1M |
| CFG Citizens Financial Group, Inc. | +$1M |
Top sells this quarter · 9
| EGBN Eagle Bancorp, Inc.exit | −$5M |
| AX Axos Financial, Inc. | −$3M |
| PKBK Parke Bancorp, Inc. | −$2M |
| MRBK Meridian Corporation | −$2M |
| AUB Atlantic Union Bankshares Corpexit | −$2M |
| MVBF MVB Financial Corp. | −$1M |
| CFFI C&F Financial Corporation | −$1M |
| BA The Boeing Company | −$0M |
| FISI Financial Institutions, Inc. | −$18M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $180M | 23 | +29.32% | +17.59% | +11.73% | -0.00B |
| 2025-12-31 | $175M | 25 | +21.88% | +17.72% | +4.17% | +0.01B |
| 2025-09-30 | $149M | 22 | +25.11% | +17.52% | +7.59% | +0.01B |
| 2025-06-30 | $126M | 19 | +38.14% | +14.94% | +23.20% | -0.00B |
| 2025-03-31 | $124M | 17 | +34.97% | +8.30% | +26.67% | -0.02B |
| 2024-12-31 | $148M | 20 | +35.07% | +24.89% | +10.19% | -0.01B |
| 2024-09-30 | $137M | 19 | +51.95% | +36.04% | +15.91% | -0.00B |
| 2024-06-30 | $117M | 21 | +26.36% | +24.49% | +1.87% | -0.11B |
| 2024-03-31 | $218M | 89 | +20.87% | +29.62% | -8.75% | -0.00B |
| 2023-12-31 | $224M | 84 | +16.81% | +26.18% | -9.37% | -0.01B |
| 2023-09-30 | $183M | 87 | +0.54% | +21.57% | -21.03% | +0.00B |
| 2023-06-30 | $184M | 88 | -3.66% | +19.42% | -23.08% | +0.01B |
| 2023-03-31 | $179M | 90 | -15.04% | -7.82% | -7.22% | -0.00B |
| 2022-12-31 | $191M | 91 | -14.11% | -18.17% | +4.07% | -0.01B |
| 2022-09-30 | $187M | 92 | -12.95% | -15.51% | +2.55% | +0.01B |
| 2022-06-30 | $189M | 93 | -7.29% | -10.62% | +3.33% | -0.00B |