Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.41%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.95%
baseline attrition
Rally response
-10.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ZGNErmenegildo Zegna N.V. | $15M | 6.0% | +42.9% | 2.8 yr |
| MSGSMadison Square Garden Sp | $15M | 6.0% | +65.1% | 2.0 yr |
| WWayfair Inc. | $14M | 5.7% | +134.8% | 3.0 yr |
| FNDFloor & Decor Holdings, | $13M | 5.4% | -36.9% | 1.5 yr |
| FIVEFive Below, Inc. | $13M | 5.3% | +204.9% | 2.3 yr |
| BURLBurlington Stores, Inc. | $11M | 4.5% | +36.5% | 2.5 yr |
| AMZNAmazon.com, Inc. | $10M | 4.1% | +9.5% | 3.0 yr |
| CCLCarnival Corporation & p | $10M | 4.1% | +33.1% | 2.0 yr |
| CHWYChewy, Inc. | $10M | 4.0% | -16.9% | 1.8 yr |
| STZConstellation Brands, In | $9M | 3.8% | -16.1% | 0.3 yr |
| MDLZMondelez International, | $9M | 3.8% | -13.0% | 0.3 yr |
| — | $9M | 3.6% | — | 0.3 yr |
| NXSTNexstar Media Group, Inc | $8M | 3.4% | +4.7% | 0.3 yr |
| — | $8M | 3.2% | — | 1.5 yr |
| MHKMohawk Industries, Inc. | $8M | 3.0% | -13.8% | 2.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail23.3%+19.0pp$58M
Apparel - Retail11.5%+8.1pp$29M
Unknown10.5%-5.7pp$26M
Entertainment9.3%+5.3pp$23M
Apparel - Manufacturers6.8%+4.7pp$17M
Home Improvement5.4%+3.8pp$13M
Discount Stores5.3%+4.3pp$13M
Leisure4.7%+3.6pp$12M
Furnishings, Fixtures & Appliances4.7%+1.8pp$12M
Beverages - Wineries & Distilleries3.8%$9M
Country
US82.5%+6.4pp
Unknown10.5%-5.7pp
IT6.0%+4.6pp
IL1.0%
Top 5: 28.4% · Top 10: 49.0% · Top 25: 86.4%
Top buys this quarter · 15
| STZ Constellation Brands, Inc.new | +$9M |
| MDLZ Mondelez International, Inc.new | +$9M |
| CHWY Chewy, Inc. | +$9M |
| NXST Nexstar Media Group, Inc.new | +$8M |
| ROST Ross Stores, Inc.new | +$6M |
| BOBS Bob's Discount Furniture, Inc.new | +$4M |
| ZGN Ermenegildo Zegna N.V. | +$4M |
| AMZN Amazon.com, Inc. | +$4M |
| FND Floor & Decor Holdings, Inc. | +$3M |
| RCL Royal Caribbean Cruises Ltd. | +$3M |
Top sells this quarter · 15
| FIVE Five Below, Inc. | −$9M |
| MHK Mohawk Industries, Inc. | −$8M |
| LZ LegalZoom.com, Inc. | −$5M |
| LAD Lithia Motors, Inc.exit | −$5M |
| LOW Lowe's Companies, Inc.exit | −$5M |
| SGI Somnigroup International Incexit | −$5M |
| SN SharkNinja, Inc. | −$4M |
| EAT Brinker International, Inc.exit | −$4M |
| WMT Walmart Inc.exit | −$3M |
| ABNB Airbnb, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $249M | 39 | +18.63% | +17.59% | +1.04% | +0.02B |
| 2025-12-31 | $248M | 33 | +20.04% | +17.72% | +2.32% | +0.08B |
| 2025-09-30 | $159M | 38 | +27.18% | +17.52% | +9.66% | +0.00B |
| 2025-06-30 | $143M | 39 | +32.81% | +14.94% | +17.87% | -0.27B |
| 2025-03-31 | $366M | 244 | +8.55% | +8.30% | +0.25% | +0.17B |
| 2024-12-31 | $210M | 39 | +31.48% | +24.89% | +6.59% | -0.02B |
| 2024-09-30 | $208M | 43 | +39.39% | +36.04% | +3.36% | -0.01B |
| 2024-06-30 | $186M | 39 | +19.76% | +24.49% | -4.73% | -0.03B |
| 2024-03-31 | $240M | 39 | +44.18% | +29.62% | +14.56% | -0.00B |
| 2023-12-31 | $213M | 40 | +49.64% | +26.18% | +23.46% | -0.01B |
| 2023-09-30 | $191M | 45 | +41.74% | +21.57% | +20.17% | +0.01B |
| 2023-06-30 | $183M | 40 | +56.84% | +19.42% | +37.42% | -0.07B |
| 2023-03-31 | $226M | 43 | +15.46% | -7.82% | +23.28% | +0.02B |
| 2022-12-31 | $176M | 34 | +9.48% | +7.56% | +1.92% | +0.02B |
| 2022-09-30 | $142M | 30 | +9.13% | -4.93% | +14.06% | -0.00B |
| 2022-06-30 | $135M | 30 | -18.45% | -16.11% | -2.34% | -0.01B |