Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.92%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.69%
baseline attrition
Rally response
-17.07%
trims into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BYByline Bancorp, Inc. | $20M | 11.1% | +22.5% | 5.5 yr |
| EWCZEuropean Wax Center, Inc | $18M | 10.1% | +46.3% | 2.5 yr |
| FLYWFlywire Corporation | $17M | 9.5% | +22.5% | 0.8 yr |
| RELYRemitly Global, Inc. | $16M | 9.0% | -24.7% | 0.5 yr |
| EYENational Vision Holdings | $15M | 8.3% | +102.7% | 1.3 yr |
| GILGildan Activewear Inc. | $14M | 7.7% | +28.0% | 2.3 yr |
| PLOWDouglas Dynamics, Inc. | $14M | 7.6% | +87.7% | 2.3 yr |
| CARGCarGurus, Inc. | $13M | 7.4% | +16.9% | 2.3 yr |
| GLBEGlobal-e Online Ltd. | $13M | 7.3% | -13.5% | 0.5 yr |
| LZLegalZoom.com, Inc. | $12M | 7.0% | -34.1% | 4.3 yr |
| USFDUS Foods Holding Corp. | $9M | 5.1% | +40.9% | 5.5 yr |
| FNKOFunko, Inc. | $8M | 4.5% | -54.1% | 1.0 yr |
| ITGRInteger Holdings Corpora | $5M | 3.0% | -25.4% | 0.3 yr |
| GDDYGoDaddy Inc. | $3M | 1.8% | -54.1% | 5.5 yr |
| DRVNDriven Brands Holdings I | $1M | 0.7% | -26.4% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail15.6%+9.8pp$28M
Banks - Regional11.1%+0.8pp$20M
Software - Infrastructure10.8%+6.6pp$19M
Household & Personal Products10.1%-2.0pp$18M
Information Technology Services9.5%$17M
Auto - Dealerships8.0%-5.1pp$14M
Apparel - Manufacturers7.7%-0.7pp$14M
Auto - Parts7.6%-0.6pp$14M
Specialty Business Services7.0%+1.4pp$12M
Food Distribution5.1%+0.8pp$9M
Country
US85.0%-6.6pp
CA7.7%-0.7pp
IL7.3%
Top 5: 47.9% · Top 10: 84.9% · Top 25: 100.0%
Top buys this quarter · 11
| FLYW Flywire Corporation | +$6M |
| EWCZ European Wax Center, Inc. | +$6M |
| ITGR Integer Holdings Corporationnew | +$5M |
| FNKO Funko, Inc. | +$5M |
| RELY Remitly Global, Inc. | +$5M |
| GIL Gildan Activewear Inc. | +$4M |
| GLBE Global-e Online Ltd. | +$3M |
| USFD US Foods Holding Corp. | +$3M |
| EYE National Vision Holdings, Inc. | +$2M |
| LZ LegalZoom.com, Inc. | +$12M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $178M | 15 | +17.62% | +17.59% | +0.02% | -0.02B |
| 2025-12-31 | $203M | 18 | +18.16% | +17.72% | +0.44% | +0.02B |
| 2025-09-30 | $187M | 20 | +22.19% | +17.52% | +4.67% | -0.04B |
| 2025-06-30 | $220M | 18 | +25.96% | +14.94% | +11.02% | -0.03B |
| 2025-03-31 | $204M | 16 | -6.48% | +8.30% | -14.78% | -0.04B |
| 2024-12-31 | $251M | 16 | +8.68% | +24.89% | -16.21% | -0.05B |
| 2024-09-30 | $290M | 18 | +19.20% | +36.04% | -16.84% | -0.05B |
| 2024-06-30 | $326M | 21 | +6.35% | +24.49% | -18.14% | +0.01B |
| 2024-03-31 | $352M | 23 | +15.50% | +29.62% | -14.12% | -0.03B |
| 2023-12-31 | $345M | 19 | +9.56% | +26.18% | -16.62% | +0.01B |
| 2023-09-30 | $294M | 18 | +9.12% | +21.57% | -12.45% | +0.02B |
| 2023-06-30 | $299M | 17 | +9.91% | +19.42% | -9.51% | -0.01B |
| 2023-03-31 | $311M | 19 | -10.12% | -7.82% | -2.31% | -0.01B |
| 2022-12-31 | $300M | 19 | +12.93% | +7.56% | +5.37% | +0.03B |
| 2022-09-30 | $239M | 17 | -6.33% | -4.93% | -1.40% | -0.02B |
| 2022-06-30 | $278M | 17 | -19.67% | -16.11% | -3.56% | +0.03B |