Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.15%
adds when stocks drop
when a holding falls −10%+
Middle response
-11.25%
baseline attrition
Rally response
-14.41%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DARDarling Ingredients Inc. | $15M | 16.8% | +98.0% | 1.8 yr |
| MEOHMethanex Corporation | $10M | 12.0% | +72.7% | 2.5 yr |
| — | $9M | 10.9% | — | 2.3 yr |
| ANDEThe Andersons, Inc. | $5M | 5.8% | +69.9% | 1.5 yr |
| CECelanese Corporation | $5M | 5.3% | +16.1% | 2.5 yr |
| APDAir Products and Chemica | $4M | 4.5% | +0.5% | 2.5 yr |
| CTVACorteva, Inc. | $3M | 3.9% | +34.3% | 2.5 yr |
| REXREX American Resources C | $3M | 3.8% | +142.7% | 2.5 yr |
| AGROAdecoagro S.A. | $3M | 3.5% | +40.0% | 2.5 yr |
| PPCPilgrim's Pride Corporat | $2M | 2.8% | -18.2% | 2.5 yr |
| ASIXAdvanSix Inc. | $2M | 2.8% | +11.6% | 0.3 yr |
| EMNEastman Chemical Company | $2M | 2.7% | -9.1% | 2.5 yr |
| STKLSunOpta Inc. | $2M | 2.4% | +33.3% | 2.5 yr |
| ECLEcolab Inc. | $2M | 2.3% | +6.0% | 2.3 yr |
| MPMP Materials Corp. | $2M | 2.2% | +97.7% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Chemicals27.4%-4.5pp$24M
Packaged Foods22.7%+14.3pp$20M
Chemicals - Specialty18.6%-22.1pp$16M
Unknown12.6%+10.2pp$11M
Food Distribution6.1%-2.4pp$5M
Agricultural Inputs5.7%+1.1pp$5M
Agricultural Farm Products3.5%+1.7pp$3M
Industrial Materials2.2%+1.4pp$2M
Industrial - Distribution1.3%$1M
Country
US72.0%-2.2pp
Unknown12.6%+10.2pp
CA12.0%+0.9pp
LU3.5%-8.9pp
Top 5: 50.8% · Top 10: 69.3% · Top 25: 96.0%
Top buys this quarter · 6
| CE Celanese Corporation | +$4M |
| ASIX AdvanSix Inc.new | +$2M |
| GPRE Green Plains Inc.new | +$1M |
| APD Air Products and Chemicals, In | +$1M |
| TITN Titan Machinery Inc.new | +$1M |
| RYAM Rayonier Advanced Materials Innew | +$1M |
Top sells this quarter · 15
| ANDE The Andersons, Inc. | −$20M |
| MEOH Methanex Corporation | −$14M |
| DAR Darling Ingredients Inc. | −$12M |
| AVO Mission Produce, Inc. | −$11M |
| AVNT Avient Corporationexit | −$8M |
| FUL H.B. Fuller Companyexit | −$4M |
| DOW Dow Inc. | −$3M |
| EMN Eastman Chemical Company | −$2M |
| SHW The Sherwin-Williams Company | −$2M |
| PPG PPG Industries, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $86M | 33 | +30.55% | +17.59% | +12.96% | -0.08B |
| 2025-12-31 | $124M | 30 | -14.88% | +17.72% | -32.60% | -0.02B |
| 2025-09-30 | $140M | 29 | -25.64% | +17.52% | -43.15% | +0.02B |
| 2025-06-30 | $124M | 32 | -20.71% | +14.94% | -35.65% | +0.01B |
| 2025-03-31 | $124M | 31 | -18.18% | +8.30% | -26.48% | -0.03B |
| 2024-12-31 | $178M | 34 | -4.46% | +24.89% | -29.35% | +0.03B |
| 2024-09-30 | $157M | 25 | +3.68% | +5.75% | -2.07% | +0.01B |
| 2024-06-30 | $144M | 32 | -3.13% | +4.38% | -7.51% | +0.03B |
| 2024-03-31 | $117M | 26 | +3.30% | +10.39% | -7.09% | +0.00B |
| 2023-12-31 | $110M | 26 | — | — | — | — |