Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.92%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.94%
baseline attrition
Rally response
-17.06%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CLSCelestica Inc. | $52M | 2.4% | +257.4% | 2.0 yr |
| NVDANVIDIA Corporation | $51M | 2.4% | +60.9% | 3.0 yr |
| MRVLMarvell Technology, Inc. | $49M | 2.3% | +61.3% | 3.0 yr |
| PBFPBF Energy Inc. | $49M | 2.3% | +159.4% | 3.5 yr |
| MUMicron Technology, Inc. | $49M | 2.3% | +289.6% | 3.0 yr |
| CYHCommunity Health Systems | $37M | 1.7% | +8.9% | 4.5 yr |
| SIMOSilicon Motion Technolog | $36M | 1.7% | +127.9% | 2.0 yr |
| SANMSanmina Corporation | $34M | 1.6% | +70.2% | 0.5 yr |
| CVICVR Energy, Inc. | $32M | 1.5% | +76.2% | 1.8 yr |
| TNPTsakos Energy Navigation | $32M | 1.5% | — | 2.3 yr |
| NATNordic American Tankers | $31M | 1.4% | +170.0% | 1.0 yr |
| MSGSMadison Square Garden Sp | $29M | 1.4% | +65.1% | 3.3 yr |
| TNKTeekay Tankers Ltd. | $29M | 1.3% | +99.4% | 1.3 yr |
| IRENIREN Limited | $28M | 1.3% | +462.9% | 2.0 yr |
| HUT.TOHut 8 Mining Corp. | $27M | 1.3% | +290.2% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors12.3%+5.4pp$262M
Hardware, Equipment & Parts5.5%+1.8pp$118M
Oil & Gas Midstream5.3%+4.6pp$113M
Software - Application4.6%+1.7pp$98M
Financial - Capital Markets4.5%+2.0pp$97M
Asset Management4.4%+1.3pp$93M
Oil & Gas Refining & Marketing4.1%$88M
Medical - Care Facilities3.8%-2.3pp$80M
Entertainment3.6%+0.9pp$77M
Software - Infrastructure3.4%-1.8pp$73M
Country
US73.5%-5.1pp
CA7.9%+1.2pp
BM3.7%+3.6pp
Unknown2.3%-2.5pp
HK1.7%+1.7pp
GR1.5%+1.0pp
AU1.3%+0.1pp
SG1.2%+0.8pp
Top 5: 11.8% · Top 10: 19.8% · Top 25: 37.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CLS | $31M | +0.08B | 257.4% |
| IREN | $12M | +0.05B | 462.9% |
| HBM | $14M | +0.02B | 175.7% |
| NVDA | $28M | +0.02B | 60.9% |
| CRWV | $11M | +0.01B | 108.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| BTDR | $3M | -0.00B | -2.0% |
Top buys this quarter · 15
| PBF PBF Energy Inc. | +$49M |
| CLS Celestica Inc. | +$29M |
| CVI CVR Energy, Inc. | +$29M |
| SIMO Silicon Motion Technology Corp | +$27M |
| SANM Sanmina Corporation | +$26M |
| NFLX Netflix, Inc. | +$19M |
| FRO Frontline Ltd.new | +$17M |
| INSW International Seaways, Inc. | +$17M |
| NVDA NVIDIA Corporation | +$16M |
| ASIX AdvanSix Inc. | +$15M |
Top sells this quarter · 15
| ADV Advantage Solutions Inc.exit | −$249M |
| MOD Modine Manufacturing Company | −$62M |
| VRT Vertiv Holdings Co | −$61M |
| STKL SunOpta Inc.exit | −$53M |
| SNDK Sandisk Corporation | −$23M |
| META Meta Platforms, Inc. | −$31M |
| MU Micron Technology, Inc. | −$30M |
| LXU LSB Industries, Inc. | −$26M |
| BW Babcock & Wilcox Enterprises, exit | −$19M |
| TNK Teekay Tankers Ltd. | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.13B | 376 | +86.81% | +17.59% | +69.21% | +0.10B |
| 2025-12-31 | $1.75B | 313 | +38.04% | +17.72% | +20.32% | -0.14B |
| 2025-09-30 | $1.86B | 365 | +39.64% | +17.52% | +22.13% | +0.04B |
| 2025-06-30 | $1.49B | 353 | +25.46% | +14.94% | +10.52% | +0.32B |
| 2025-03-31 | $902M | 287 | +0.48% | +8.30% | -7.82% | +0.16B |
| 2024-12-31 | $862M | 310 | +27.71% | +24.89% | +2.82% | +0.01B |
| 2024-09-30 | $829M | 312 | +40.89% | +36.04% | +4.85% | +0.04B |
| 2024-06-30 | $718M | 289 | +24.77% | +24.49% | +0.28% | +0.03B |
| 2024-03-31 | $660M | 269 | +25.81% | +29.62% | -3.81% | -0.01B |
| 2023-12-31 | $613M | 265 | +17.07% | +26.18% | -9.11% | -0.04B |
| 2023-09-30 | $575M | 260 | +10.23% | +21.57% | -11.34% | +0.11B |
| 2023-06-30 | $480M | 267 | +8.51% | +19.42% | -10.92% | +0.08B |
| 2023-03-31 | $382M | 231 | -21.96% | -7.82% | -14.14% | +0.04B |
| 2022-12-31 | $337M | 205 | +7.23% | +7.56% | -0.33% | -0.00B |
| 2022-09-30 | $314M | 215 | -4.58% | -4.93% | +0.35% | +0.01B |
| 2022-06-30 | $321M | 237 | -24.67% | -16.11% | -8.56% | +0.05B |