Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.51%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.91%
baseline attrition
Rally response
-7.71%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CAVACAVA Group, Inc. | $36M | 4.6% | -6.4% | 2.3 yr |
| LINLinde plc | $33M | 4.3% | +7.9% | 3.3 yr |
| ORAOrmat Technologies, Inc. | $31M | 4.1% | +58.9% | 0.5 yr |
| IDCCInterDigital, Inc. | $31M | 4.0% | +47.2% | 0.8 yr |
| SITMSiTime Corporation | $30M | 3.9% | +125.9% | 0.5 yr |
| TIGOMillicom International C | $30M | 3.9% | +167.9% | 0.8 yr |
| SNSharkNinja, Inc. | $28M | 3.6% | +27.0% | 1.8 yr |
| VIAVViavi Solutions Inc. | $26M | 3.4% | +197.4% | 0.3 yr |
| SHAKShake Shack Inc. | $26M | 3.4% | +0.3% | 2.5 yr |
| SPXCSPX Technologies, Inc. | $26M | 3.3% | +55.3% | 0.5 yr |
| FNDFloor & Decor Holdings, | $24M | 3.1% | -36.9% | 0.3 yr |
| FSSFederal Signal Corporati | $23M | 3.0% | +47.8% | 3.5 yr |
| FPSForgent Power Solutions, | $23M | 3.0% | — | 0.3 yr |
| STRLSterling Infrastructure, | $23M | 3.0% | +259.7% | 1.0 yr |
| VXUSVanguard Total Internati | $22M | 2.9% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors10.4%+7.2pp$81M
Restaurants8.5%-2.5pp$66M
Industrial - Machinery8.0%+3.8pp$62M
Electrical Equipment & Parts7.2%+4.0pp$56M
Engineering & Construction5.6%+4.4pp$44M
Communication Equipment5.5%$43M
Asset Management4.7%-1.8pp$37M
Chemicals - Specialty4.7%+4.2pp$36M
Software - Application4.5%-5.7pp$35M
Telecommunications Services4.2%$32M
Country
US82.4%+4.4pp
GB4.7%+2.9pp
LU3.9%+1.6pp
IE1.6%-1.0pp
CN1.4%-0.3pp
IN1.0%-0.7pp
Unknown0.9%+0.2pp
TW0.8%-1.3pp
Top 5: 20.9% · Top 10: 38.3% · Top 25: 72.7%
Top buys this quarter · 15
| LIN Linde plc | +$31M |
| VIAV Viavi Solutions Inc.new | +$26M |
| SITM SiTime Corporation | +$26M |
| FND Floor & Decor Holdings, Inc.new | +$24M |
| FPS Forgent Power Solutions, Inc.new | +$23M |
| ALGM Allegro MicroSystems, Inc.new | +$22M |
| HLIO Helios Technologies, Inc.new | +$20M |
| IDCC InterDigital, Inc. | +$10M |
| SHAK Shake Shack Inc. | +$8M |
| SN SharkNinja, Inc. | +$7M |
Top sells this quarter · 15
| LITE Lumentum Holdings Inc. | −$32M |
| BROS Dutch Bros Inc.exit | −$22M |
| BC Brunswick Corporationexit | −$18M |
| AGX Argan, Inc. | −$17M |
| PI Impinj, Inc.exit | −$12M |
| SAIL SailPoint, Inc.exit | −$8M |
| HAYW Hayward Holdings, Inc. | −$7M |
| POWL Powell Industries, Inc. | −$7M |
| LIND Lindblad Expeditions Holdings,exit | −$6M |
| CAVA CAVA Group, Inc. | −$30M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $776M | 86 | +21.52% | +17.59% | +3.93% | +0.05B |
| 2025-12-31 | $696M | 79 | +0.14% | +17.72% | -17.58% | +0.01B |
| 2025-09-30 | $689M | 78 | +6.75% | +17.52% | -10.77% | -0.04B |
| 2025-06-30 | $719M | 77 | +13.77% | +14.94% | -1.17% | -0.01B |
| 2025-03-31 | $633M | 74 | -5.35% | +8.30% | -13.66% | -0.04B |
| 2024-12-31 | $774M | 71 | +22.75% | +24.89% | -2.14% | -0.06B |
| 2024-09-30 | $787M | 74 | +32.53% | +36.04% | -3.51% | +0.05B |
| 2024-06-30 | $683M | 78 | +15.20% | +24.49% | -9.29% | -0.06B |
| 2024-03-31 | $781M | 77 | +29.40% | +29.62% | -0.23% | +0.15B |
| 2023-12-31 | $568M | 74 | +28.62% | +26.18% | +2.44% | -0.15B |
| 2023-09-30 | $629M | 76 | +17.31% | +21.57% | -4.26% | -0.13B |
| 2023-06-30 | $813M | 74 | +20.08% | +19.42% | +0.66% | +0.05B |
| 2023-03-31 | $711M | 73 | -9.33% | -7.82% | -1.51% | +0.03B |
| 2022-12-31 | $609M | 69 | +4.78% | +7.56% | -2.78% | -0.03B |
| 2022-09-30 | $610M | 81 | -3.91% | -4.93% | +1.02% | +0.03B |
| 2022-06-30 | $600M | 87 | -19.04% | -16.11% | -2.92% | -0.02B |