Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.05%
adds when stocks drop
when a holding falls −10%+
Middle response
+4.93%
steady accumulation
Rally response
+1.65%
adds into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MTZMasTec, Inc. | $693M | 24.8% | +175.7% | 3.5 yr |
| FSLRFirst Solar, Inc. | $430M | 15.3% | +56.0% | 3.0 yr |
| DYDycom Industries, Inc. | $342M | 12.2% | +122.4% | 5.5 yr |
| IPInternational Paper Comp | $150M | 5.4% | -30.2% | 2.0 yr |
| GVAGranite Construction Inc | $133M | 4.8% | +59.6% | 2.3 yr |
| CXCEMEX, S.A.B. de C.V. | $124M | 4.4% | +106.1% | 1.0 yr |
| CTRICenturi Holdings, Inc. | $118M | 4.2% | +78.2% | 1.0 yr |
| CRH.LCRH plc | $113M | 4.0% | — | 2.8 yr |
| BAThe Boeing Company | $110M | 3.9% | +16.7% | 0.5 yr |
| — | $106M | 3.8% | — | 0.8 yr |
| ARRYArray Technologies, Inc. | $93M | 3.3% | +48.5% | 4.3 yr |
| STMSTMicroelectronics N.V. | $79M | 2.8% | +58.7% | 0.3 yr |
| WMSAdvanced Drainage System | $51M | 1.8% | +26.9% | 0.8 yr |
| — | $47M | 1.7% | — | 1.3 yr |
| ATKRAtkore Inc. | $43M | 1.5% | +0.2% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Engineering & Construction41.7%+6.2pp$1.17B
Solar18.7%+0.7pp$523M
Construction Materials8.5%+1.3pp$237M
Unknown5.7%+3.3pp$161M
Packaging & Containers5.4%-1.8pp$150M
Regulated Gas4.2%$118M
Aerospace & Defense3.9%-11.4pp$110M
Semiconductors3.4%$94M
Electrical Equipment & Parts2.7%+0.5pp$76M
Construction2.5%+0.3pp$71M
Country
US82.4%-7.2pp
Unknown5.7%+3.3pp
MX4.4%
IE4.0%-3.1pp
NL2.8%
CA0.6%-0.3pp
Top 5: 62.4% · Top 10: 82.8% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| MTZ | $250M | +0.44B | 175.7% |
| DY | $148M | +0.18B | 122.4% |
| FSLR | $171M | +0.10B | 56.0% |
| GVA | $80M | +0.05B | 59.6% |
| ARRY | $69M | +0.03B | 48.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| IP | $96M | -0.03B | -30.2% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.80B | 23 | +74.79% | +17.59% | +57.20% | +0.05B |
| 2025-12-31 | $2.65B | 23 | +46.31% | +17.72% | +28.59% | +0.06B |
| 2025-09-30 | $2.36B | 22 | +32.50% | +17.52% | +14.98% | +0.15B |
| 2025-06-30 | $1.86B | 19 | +17.21% | +14.94% | +2.26% | +0.12B |
| 2025-03-31 | $1.34B | 17 | -12.76% | +8.30% | -21.06% | -0.01B |
| 2024-12-31 | $1.56B | 19 | +8.81% | +24.89% | -16.07% | +0.06B |
| 2024-09-30 | $1.51B | 22 | +15.95% | +36.04% | -20.09% | +0.05B |
| 2024-06-30 | $1.39B | 24 | -0.81% | +24.49% | -25.30% | +0.09B |
| 2024-03-31 | $1.36B | 22 | +15.73% | +29.62% | -13.89% | +0.13B |
| 2023-12-31 | $1.13B | 20 | +17.59% | +26.18% | -8.59% | +0.35B |
| 2023-09-30 | $745M | 21 | +27.05% | +21.57% | +5.48% | +0.15B |
| 2023-06-30 | $654M | 20 | +50.17% | +19.42% | +30.74% | +0.08B |
| 2023-03-31 | $509M | 23 | +7.12% | -7.82% | +14.94% | -0.12B |
| 2022-12-31 | $574M | 23 | +14.14% | +7.56% | +6.58% | +0.00B |
| 2022-09-30 | $500M | 21 | +6.67% | -4.93% | +11.60% | +0.04B |
| 2022-06-30 | $434M | 21 | -19.97% | -16.11% | -3.86% | +0.01B |