Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.51%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.22%
baseline attrition
Rally response
-5.46%
trims into rallies
when a holding rises +10%+
Top positions · 14
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $143M | 15.6% | +9.5% | 0.8 yr |
| VVVValvoline Inc. | $117M | 12.8% | -3.2% | 3.5 yr |
| AZOAutoZone, Inc. | $108M | 11.8% | -11.4% | 1.0 yr |
| IBNICICI Bank Limited | $106M | 11.6% | -17.3% | 5.5 yr |
| COFCapital One Financial Co | $98M | 10.7% | +3.1% | 1.5 yr |
| AYIAcuity Brands, Inc. | $63M | 6.9% | +6.7% | 0.3 yr |
| BURLBurlington Stores, Inc. | $60M | 6.6% | +36.5% | 1.0 yr |
| CHDNChurchill Downs Incorpor | $48M | 5.3% | -18.8% | 0.8 yr |
| ROKURoku, Inc. | $45M | 4.9% | +34.3% | 0.5 yr |
| FCNCAFirst Citizens BancShare | $44M | 4.8% | — | 5.5 yr |
| NVTnVent Electric plc | $27M | 3.0% | +127.9% | 0.3 yr |
| ONTOOnto Innovation Inc. | $27M | 3.0% | +69.0% | 0.3 yr |
| FNDFloor & Decor Holdings, | $22M | 2.4% | -36.9% | 0.3 yr |
| TVGrupo Televisa, S.A.B. | $5M | 0.6% | +73.2% | 5.0 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail27.4%$251M
Banks - Regional16.4%-0.3pp$150M
Oil & Gas Refining & Marketing12.8%+2.2pp$117M
Financial - Credit Services10.7%-1.1pp$98M
Electrical Equipment & Parts9.9%$91M
Apparel - Retail6.6%$60M
Gambling, Resorts & Casinos5.3%$48M
Entertainment4.9%$45M
Semiconductors3.0%$27M
Home Improvement2.4%$22M
Country
US84.8%+16.8pp
IN11.6%+1.1pp
GB3.0%+0.3pp
MX0.6%-1.2pp
Top 5: 62.5% · Top 10: 91.0% · Top 25: 100.0%
Top buys this quarter · 6
| AYI Acuity Brands, Inc.new | +$63M |
| NVT nVent Electric plcnew | +$27M |
| ONTO Onto Innovation Inc.new | +$27M |
| FND Floor & Decor Holdings, Inc.new | +$22M |
| AMZN Amazon.com, Inc. | +$20M |
| AZO AutoZone, Inc. | +$17M |
Top sells this quarter · 13
| — exit | −$0M |
| — exit | −$0M |
| SN SharkNinja, Inc.exit | −$125M |
| PCOR Procore Technologies, Inc.exit | −$51M |
| MSFT Microsoft Corporationexit | −$49M |
| CCL Carnival Corporation & plcexit | −$45M |
| LPX Louisiana-Pacific Corporationexit | −$42M |
| COF Capital One Financial Corporat | −$25M |
| VVV Valvoline Inc. | −$22M |
| CHDN Churchill Downs Incorporated | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $915M | 14 | +3.83% | +17.59% | -13.76% | -0.34B |
| 2025-12-31 | $1.35B | 17 | +9.88% | +17.72% | -7.83% | -0.10B |
| 2025-09-30 | $1.45B | 21 | +10.38% | +17.52% | -7.14% | -0.03B |
| 2025-06-30 | $1.46B | 18 | +15.11% | +14.94% | +0.17% | +0.11B |
| 2025-03-31 | $1.23B | 16 | +4.11% | +8.30% | -4.20% | -0.36B |
| 2024-12-31 | $1.61B | 18 | +24.18% | +24.89% | -0.71% | +0.12B |
| 2024-09-30 | $1.48B | 15 | +39.10% | +36.04% | +3.07% | -0.53B |
| 2024-06-30 | $1.90B | 25 | +32.81% | +24.49% | +8.32% | -0.04B |
| 2024-03-31 | $1.95B | 22 | +41.71% | +29.62% | +12.09% | +0.12B |
| 2023-12-31 | $1.56B | 20 | +34.73% | +26.18% | +8.55% | -0.18B |
| 2023-09-30 | $1.55B | 22 | +26.39% | +21.57% | +4.82% | +0.08B |
| 2023-06-30 | $1.46B | 21 | +24.45% | +19.42% | +5.02% | +0.19B |
| 2023-03-31 | $1.19B | 21 | -15.60% | -7.82% | -7.78% | -0.11B |
| 2022-12-31 | $1.16B | 20 | +5.59% | +7.56% | -1.97% | -0.14B |
| 2022-09-30 | $1.23B | 22 | -0.53% | -4.93% | +4.40% | +0.08B |
| 2022-06-30 | $1.15B | 22 | -28.15% | -16.11% | -12.04% | +0.10B |