Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+18.03%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.13%
steady accumulation
Rally response
-10.95%
trims into rallies
when a holding rises +10%+
Top positions · 12
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ZETAZeta Global Holdings Cor | $166M | 18.2% | +17.4% | 1.3 yr |
| RUNSunrun Inc. | $163M | 17.8% | +131.4% | 4.3 yr |
| SNSharkNinja, Inc. | $101M | 11.0% | +27.0% | 1.5 yr |
| FCNFTI Consulting, Inc. | $87M | 9.5% | +7.7% | 6.5 yr |
| OKTAOkta, Inc. | $87M | 9.5% | -25.2% | 0.8 yr |
| ACELAccel Entertainment, Inc | $64M | 7.0% | +10.0% | 5.8 yr |
| CPRICapri Holdings Limited | $55M | 6.0% | -10.7% | 0.8 yr |
| TOSTToast, Inc. | $53M | 5.8% | -20.1% | 0.5 yr |
| RBRKRubrik, Inc. | $50M | 5.5% | -19.7% | 0.3 yr |
| KSPIJoint Stock Company Kasp | $48M | 5.3% | -20.2% | 2.0 yr |
| FSSFederal Signal Corporati | $28M | 3.0% | +47.8% | 0.5 yr |
| FROGJFrog Ltd. | $13M | 1.4% | +46.7% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure26.1%-1.8pp$238M
Software - Application19.6%+16.3pp$178M
Solar17.8%+9.2pp$163M
Furnishings, Fixtures & Appliances11.0%+2.3pp$101M
Consulting Services9.5%+3.7pp$87M
Gambling, Resorts & Casinos7.0%+1.6pp$64M
Luxury Goods6.0%$55M
Industrial - Pollution & Treatment Controls3.0%$28M
Country
US88.7%+20.3pp
GB6.0%
KZ5.3%-5.1pp
Top 5: 66.0% · Top 10: 95.6% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| RUN | $89M | +0.12B | 131.4% |
| SN | $89M | +0.02B | 27.0% |
| ZETA | $34M | +0.01B | 17.4% |
| ACEL | $55M | +0.01B | 10.0% |
| FCN | $59M | +0.00B | 7.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| KSPI | $107M | -0.02B | -20.2% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $912M | 12 | +10.92% | +17.59% | -6.67% | -0.00B |
| 2025-12-31 | $1.07B | 14 | +16.70% | +17.72% | -1.02% | -0.10B |
| 2025-09-30 | $1.25B | 15 | +24.91% | +17.52% | +7.39% | -0.05B |
| 2025-06-30 | $1.12B | 16 | +22.83% | +14.94% | +7.89% | -0.10B |
| 2025-03-31 | $1.03B | 15 | -0.21% | +8.30% | -8.51% | -0.08B |
| 2024-12-31 | $1.22B | 15 | +5.39% | +24.89% | -19.49% | -0.41B |
| 2024-09-30 | $1.63B | 14 | +28.71% | +36.04% | -7.33% | +0.02B |
| 2024-06-30 | $1.41B | 15 | -3.79% | +24.49% | -28.28% | +0.22B |
| 2024-03-31 | $1.23B | 14 | -4.52% | +29.62% | -34.14% | +0.19B |
| 2023-12-31 | $1.09B | 13 | +16.43% | +26.18% | -9.75% | -0.14B |
| 2023-09-30 | $1.01B | 15 | +3.09% | +21.57% | -18.47% | -0.01B |
| 2023-06-30 | $1.19B | 15 | +17.44% | +19.42% | -1.99% | +0.14B |
| 2023-03-31 | $1.10B | 13 | -3.52% | -7.82% | +4.30% | -0.06B |
| 2022-12-31 | $995M | 14 | +7.98% | +7.56% | +0.42% | +0.14B |
| 2022-09-30 | $796M | 13 | -2.35% | -4.93% | +2.57% | -0.01B |
| 2022-06-30 | $823M | 14 | -21.39% | -16.11% | -5.28% | +0.20B |