Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.30%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.99%
baseline attrition
Rally response
-19.33%
trims into rallies
when a holding rises +10%+
Top positions · 28
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $22M | 7.4% | — | 1.0 yr |
| CSTMConstellium SE | $21M | 7.1% | +143.6% | 0.5 yr |
| SXTSensient Technologies Co | $21M | 6.8% | +18.1% | 1.3 yr |
| CHDNChurchill Downs Incorpor | $19M | 6.4% | -18.8% | 1.0 yr |
| WCCWESCO International, Inc | $17M | 5.6% | +77.6% | 2.3 yr |
| GLNGGolar LNG Limited | $17M | 5.5% | +45.8% | 0.8 yr |
| WWDWoodward, Inc. | $14M | 4.7% | +97.0% | 1.3 yr |
| PRMBPrimo Brands Corporation | $14M | 4.6% | -45.9% | 1.0 yr |
| CLHClean Harbors, Inc. | $13M | 4.4% | +45.5% | 0.5 yr |
| UHAL-BU-Haul Holding Company | $13M | 4.3% | — | 1.5 yr |
| — | $12M | 4.1% | — | 2.8 yr |
| AIRAAR Corp. | $12M | 4.0% | +95.5% | 0.3 yr |
| SOLSSolstice Advanced Materi | $12M | 3.9% | — | 0.5 yr |
| PVHPVH Corp. | $11M | 3.6% | +8.1% | 0.3 yr |
| TJXThe TJX Companies, Inc. | $10M | 3.4% | +32.7% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown14.7%+9.2pp$44M
Aerospace & Defense11.0%+6.8pp$33M
Chemicals - Specialty10.8%+1.2pp$33M
Apparel - Retail7.9%+0.2pp$24M
Rental & Leasing Services7.4%-10.3pp$22M
Aluminum7.1%$21M
Beverages - Non-Alcoholic7.1%$21M
Gambling, Resorts & Casinos6.4%$19M
Industrial - Distribution5.6%-1.9pp$17M
Oil & Gas Midstream5.5%$17M
Country
US69.6%-17.2pp
Unknown14.7%+9.2pp
FR7.1%
BM5.5%
IE3.1%-2.7pp
Top 5: 33.3% · Top 10: 56.9% · Top 25: 97.7%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| WCC | $23M | +0.02B | 77.6% |
| WWD | $13M | +0.01B | 97.0% |
| AER | $17M | +0.01B | 35.6% |
| SXT | $29M | +0.01B | 18.1% |
| TJX | $13M | +0.00B | 32.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| QDEL | $18M | -0.01B | -53.0% |
Top buys this quarter · 12
| AIR AAR Corp.new | +$12M |
| CSTM Constellium SE | +$12M |
| PVH PVH Corp.new | +$11M |
| MCO Moody's Corporationnew | +$8M |
| CTRN Citi Trends, Inc.new | +$7M |
| RTX RTX Corporationnew | +$7M |
| COLD Americold Realty Trust, Inc.new | +$4M |
| GWRE Guidewire Software, Inc.new | +$4M |
| SXT Sensient Technologies Corporat | +$3M |
| BURL Burlington Stores, Inc.new | +$2M |
Top sells this quarter · 15
| CNM Core & Main, Inc.exit | −$13M |
| SOLS Solstice Advanced Materials In | −$9M |
| PRMB Primo Brands Corporation | −$9M |
| UAL United Airlines Holdings, Inc.exit | −$8M |
| AYI Acuity Brands, Inc.exit | −$8M |
| WCC WESCO International, Inc. | −$7M |
| AER AerCap Holdings N.V. | −$6M |
| LINE Lineage, Inc. | −$6M |
| WWD Woodward, Inc. | −$6M |
| GFF Griffon Corporationexit | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $303M | 28 | +23.90% | +17.59% | +6.31% | -0.02B |
| 2025-12-31 | $311M | 24 | +13.31% | +17.72% | -4.41% | -0.06B |
| 2025-09-30 | $347M | 26 | +10.35% | +17.52% | -7.16% | +0.04B |
| 2025-06-30 | $303M | 22 | +18.01% | +14.94% | +3.07% | -0.03B |
| 2025-03-31 | $300M | 18 | +5.43% | +8.30% | -2.87% | +0.05B |
| 2024-12-31 | $262M | 16 | +17.29% | +24.89% | -7.60% | -0.04B |
| 2024-09-30 | $297M | 18 | +28.15% | +36.04% | -7.89% | -0.13B |
| 2024-06-30 | $394M | 22 | +15.60% | +24.49% | -8.89% | +0.03B |
| 2024-03-31 | $368M | 22 | +26.02% | +29.62% | -3.61% | +0.07B |
| 2023-12-31 | $288M | 18 | +30.34% | +26.18% | +4.16% | -0.01B |
| 2023-09-30 | $267M | 16 | +17.51% | +21.57% | -4.06% | -0.01B |
| 2023-06-30 | $286M | 16 | +17.37% | +19.42% | -2.05% | -0.01B |
| 2023-03-31 | $274M | 14 | -5.07% | -7.82% | +2.74% | -0.02B |
| 2022-12-31 | $268M | 11 | +1.32% | +7.56% | -6.25% | -0.04B |
| 2022-09-30 | $306M | 12 | -1.80% | -4.93% | +3.12% | -0.01B |
| 2022-06-30 | $320M | 15 | -12.42% | -16.11% | +3.69% | +0.05B |