Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.83%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.78%
steady accumulation
Rally response
-7.14%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PRAAPRA Group, Inc. | $67M | 11.1% | -15.1% | 1.3 yr |
| WKWorkiva Inc. | $63M | 10.4% | -21.4% | 1.0 yr |
| NRDSNerdWallet, Inc. | $55M | 9.0% | +14.7% | 1.5 yr |
| DVDoubleVerify Holdings, I | $48M | 7.9% | -28.9% | 0.5 yr |
| FRSHFreshworks Inc. | $48M | 7.9% | -43.1% | 1.5 yr |
| CGNTCognyte Software Ltd. | $40M | 6.6% | +3.8% | 1.5 yr |
| CTKBCytek Biosciences, Inc. | $31M | 5.1% | +9.0% | 1.5 yr |
| PAYSPaySign, Inc. | $27M | 4.5% | +178.3% | 1.5 yr |
| MNDYmonday.com Ltd. | $25M | 4.2% | -71.6% | 0.5 yr |
| SSentinelOne, Inc. | $23M | 3.8% | -29.2% | 0.8 yr |
| MITKMitek Systems, Inc. | $22M | 3.6% | +63.6% | 1.0 yr |
| NUTXNutex Health, Inc. | $17M | 2.8% | +102.1% | 1.5 yr |
| SPTSprout Social, Inc. | $16M | 2.6% | -74.1% | 0.8 yr |
| DCBODocebo Inc. | $15M | 2.5% | -39.2% | 1.0 yr |
| KRMDKORU Medical Systems, In | $15M | 2.5% | +70.1% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application42.2%+15.2pp$255M
Financial - Credit Services20.1%-3.7pp$122M
Software - Infrastructure15.1%-0.2pp$91M
Medical - Devices6.0%+4.1pp$36M
Medical - Healthcare Information Services3.9%+0.7pp$24M
Medical - Instruments & Supplies2.8%+0.4pp$17M
Luxury Goods2.1%+1.1pp$13M
Specialty Business Services1.7%-0.3pp$10M
Information Technology Services1.5%-2.7pp$9M
Beverages - Non-Alcoholic1.3%$8M
Country
US85.6%+13.3pp
IL11.6%-7.0pp
CA2.5%
Unknown0.3%-8.1pp
Top 5: 46.2% · Top 10: 70.4% · Top 25: 96.5%
Top buys this quarter · 14
| WK Workiva Inc. | +$45M |
| PRAA PRA Group, Inc. | +$16M |
| NABL N-able, Inc. | +$9M |
| SLP Simulations Plus, Inc.new | +$3M |
| PLTK Playtika Holding Corp.new | +$3M |
| ZVIA Zevia PBC | +$8M |
| TTD The Trade Desk, Inc.new | +$1M |
| TENB Tenable Holdings, Inc.new | +$1M |
| NPCE NeuroPace, Inc.new | +$1M |
| MRDN Meridian Holdings Inc.new | +$1M |
Top sells this quarter · 15
| S SentinelOne, Inc. | −$75M |
| NUTX Nutex Health, Inc. | −$47M |
| GDOT Green Dot Corporationexit | −$37M |
| DV DoubleVerify Holdings, Inc. | −$33M |
| UNF UniFirst Corporation | −$30M |
| CGNT Cognyte Software Ltd. | −$19M |
| ILMN Illumina, Inc.exit | −$14M |
| BL BlackLine, Inc.exit | −$9M |
| MNDY monday.com Ltd. | −$7M |
| OSPN OneSpan Inc.exit | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $605M | 42 | +11.30% | +17.59% | -6.29% | -0.26B |
| 2025-12-31 | $1.10B | 47 | +15.13% | +17.72% | -2.59% | +0.46B |
| 2025-09-30 | $579M | 41 | -0.84% | +8.12% | -8.96% | +0.00B |
| 2025-06-30 | $582M | 41 | +29.70% | +10.78% | +18.92% | +0.02B |
| 2025-03-31 | $436M | 37 | -18.38% | -4.27% | -14.11% | +0.01B |
| 2024-12-31 | $527M | 35 | — | — | — | — |