Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.55%
adds when stocks drop
when a holding falls −10%+
Middle response
-11.88%
baseline attrition
Rally response
-10.15%
trims into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CHTRCharter Communications, | $27M | 34.4% | -41.4% | 5.5 yr |
| CACCCredit Acceptance Corpor | $24M | 30.2% | -18.0% | 5.5 yr |
| HGVHilton Grand Vacations I | $10M | 12.9% | +4.6% | 0.8 yr |
| BTIBritish American Tobacco | $8M | 10.4% | +47.5% | 2.0 yr |
| AERAerCap Holdings N.V. | $7M | 8.7% | +35.6% | 5.5 yr |
| CRMTAmerica's Car-Mart, Inc. | $3M | 3.5% | -72.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Telecommunications Services34.4%+16.5pp$27M
Financial - Credit Services30.2%-5.3pp$24M
Gambling, Resorts & Casinos12.9%$10M
Tobacco10.4%-5.5pp$8M
Rental & Leasing Services8.7%+1.0pp$7M
Auto - Dealerships3.5%-8.5pp$3M
Country
US80.9%+4.4pp
GB10.4%-5.5pp
IE8.7%+1.0pp
Top 5: 96.5% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $80M | 6 | -15.85% | +17.59% | -33.44% | +0.00B |
| 2025-12-31 | $85M | 6 | -1.93% | +17.72% | -19.65% | +0.00B |
| 2025-09-30 | $88M | 7 | +6.59% | +17.52% | -10.92% | -0.01B |
| 2025-06-30 | $111M | 6 | +21.92% | +14.94% | +6.98% | -0.01B |
| 2025-03-31 | $110M | 6 | +8.36% | +8.30% | +0.05% | -0.01B |
| 2024-12-31 | $111M | 7 | -5.40% | +24.89% | -30.29% | +0.02B |
| 2024-09-30 | $85M | 7 | -0.90% | +36.04% | -36.94% | -0.02B |
| 2024-06-30 | $106M | 8 | +5.34% | +24.49% | -19.15% | -0.01B |
| 2024-03-31 | $117M | 7 | +16.00% | +29.62% | -13.62% | -0.04B |
| 2023-12-31 | $169M | 7 | +18.77% | +26.18% | -7.41% | -0.01B |
| 2023-09-30 | $161M | 6 | +19.08% | +21.57% | -2.49% | -0.04B |
| 2023-06-30 | $201M | 6 | +1.49% | +19.42% | -17.94% | -0.05B |
| 2023-03-31 | $229M | 6 | -21.67% | -7.82% | -13.86% | -0.00B |
| 2022-12-31 | $239M | 6 | +9.68% | +7.56% | +2.12% | +0.00B |
| 2022-09-30 | $216M | 7 | -12.54% | -4.93% | -7.61% | +0.00B |
| 2022-06-30 | $245M | 7 | -15.88% | -16.11% | +0.23% | +0.01B |