Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.44%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.42%
baseline attrition
Rally response
-10.30%
trims into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VALValaris Limited | $45M | 16.8% | +149.7% | 1.3 yr |
| NTRNutrien Ltd. | $45M | 16.7% | +56.2% | 7.5 yr |
| ARCOArcos Dorados Holdings I | $35M | 13.0% | +5.0% | 7.5 yr |
| JEFJefferies Financial Grou | $32M | 11.8% | -20.7% | 7.5 yr |
| WPMWheaton Precious Metals | $31M | 11.4% | +70.0% | 7.5 yr |
| BBDBanco Bradesco S.A. | $31M | 11.3% | +70.3% | 1.3 yr |
| — | $15M | 5.5% | — | 0.5 yr |
| BNBrookfield Corporation | $9M | 3.4% | +16.5% | 3.5 yr |
| TDWTidewater Inc. | $9M | 3.3% | +97.7% | 7.0 yr |
| GGALGrupo Financiero Galicia | $8M | 3.0% | -11.7% | 1.8 yr |
| DOUGDouglas Elliman Inc. | $5M | 1.9% | -4.7% | 2.3 yr |
| — | $2M | 0.7% | — | 3.5 yr |
| CSWICSW Industrials, Inc. | $2M | 0.7% | — | 7.5 yr |
| CSWCCapital Southwest Corpor | $1M | 0.5% | +11.4% | 7.5 yr |
| — | $0M | 0.0% | — | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Equipment & Services20.1%+10.0pp$55M
Agricultural Inputs16.7%+2.1pp$45M
Banks - Regional14.4%+2.1pp$39M
Restaurants13.0%+0.2pp$35M
Financial - Capital Markets11.8%-1.9pp$32M
Gold11.4%-13.3pp$31M
Unknown6.2%+5.3pp$17M
Asset Management3.9%-0.5pp$11M
Real Estate - Services1.9%-0.4pp$5M
Industrial - Machinery0.7%-0.4pp$2M
Country
CA31.5%-13.4pp
US18.2%-1.5pp
BM16.8%+8.6pp
UY13.0%+0.2pp
BR11.3%-0.9pp
Unknown6.2%+5.3pp
AR3.0%
Top 5: 69.7% · Top 10: 96.3% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $271M | 15 | +49.71% | +17.59% | +32.12% | +0.01B |
| 2025-12-31 | $232M | 16 | +26.04% | +17.72% | +8.32% | -0.02B |
| 2025-09-30 | $246M | 13 | +45.04% | +17.52% | +27.52% | -0.02B |
| 2025-06-30 | $234M | 14 | +43.26% | +14.94% | +28.32% | -0.02B |
| 2025-03-31 | $224M | 15 | +28.85% | +8.30% | +20.54% | -0.04B |
| 2024-12-31 | $274M | 16 | +44.19% | +24.89% | +19.30% | -0.05B |
| 2024-09-30 | $272M | 17 | +31.27% | +36.04% | -4.77% | -0.03B |
| 2024-06-30 | $277M | 18 | +26.54% | +24.49% | +2.05% | -0.05B |
| 2024-03-31 | $319M | 19 | +37.20% | +29.62% | +7.58% | -0.04B |
| 2023-12-31 | $332M | 17 | +37.83% | +26.18% | +11.65% | +0.01B |
| 2023-09-30 | $303M | 17 | +59.43% | +21.57% | +37.86% | -0.06B |
| 2023-06-30 | $342M | 16 | +44.91% | +19.42% | +25.49% | -0.03B |
| 2023-03-31 | $330M | 15 | +9.04% | -7.82% | +16.86% | -0.03B |
| 2022-12-31 | $332M | 16 | +24.04% | +7.56% | +16.48% | +0.04B |
| 2022-09-30 | $235M | 14 | -3.32% | -4.93% | +1.61% | -0.04B |
| 2022-06-30 | $283M | 13 | -15.98% | -16.11% | +0.13% | -0.02B |