Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.25%
trims when stocks drop
when a holding falls −10%+
Middle response
-17.88%
baseline attrition
Rally response
-9.12%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $57M | 23.1% | — | 0.8 yr |
| NTRNutrien Ltd. | $50M | 20.0% | +56.2% | 0.8 yr |
| NNDMNano Dimension Ltd. | $26M | 10.6% | +6.9% | 4.5 yr |
| GTLSChart Industries, Inc. | $25M | 10.0% | +43.2% | 0.3 yr |
| RYRoyal Bank of Canada | $12M | 4.9% | +48.2% | 0.8 yr |
| — | $10M | 4.1% | — | 0.8 yr |
| WBDWarner Bros. Discovery, | $8M | 3.3% | +155.9% | 0.5 yr |
| NWAX-UNNew America Acquisition | $8M | 3.2% | — | 0.3 yr |
| PTHSPelthos Therapeutics Inc | $6M | 2.5% | — | 0.8 yr |
| GDXJVanEck Junior Gold Miner | $5M | 1.8% | — | 0.3 yr |
| ORMPOramed Pharmaceuticals I | $4M | 1.8% | +70.0% | 2.5 yr |
| AUBAtlantic Union Bankshare | $4M | 1.5% | +19.9% | 1.3 yr |
| SUNCSunocoCorp LLC | $4M | 1.5% | — | 0.5 yr |
| MSOSAdvisorShares Pure US Ca | $4M | 1.4% | — | 1.5 yr |
| BMOBank of Montreal | $3M | 1.1% | +47.5% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown27.2%+0.9pp$68M
Agricultural Inputs20.0%$50M
Computer Hardware10.6%+5.3pp$26M
Industrial - Machinery10.0%$25M
Banks - Diversified6.0%-30.4pp$15M
Asset Management4.8%+1.8pp$12M
Biotechnology4.5%+2.2pp$11M
Entertainment3.3%$8M
Financial - Conglomerates3.2%+3.0pp$8M
Banks - Regional2.0%+0.7pp$5M
Country
US34.7%+6.4pp
CA27.3%-10.9pp
Unknown27.2%+0.9pp
IL10.6%+5.8pp
AU0.1%
GB0.1%-0.1pp
Top 5: 68.7% · Top 10: 83.6% · Top 25: 96.8%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| GTLS Chart Industries, Inc.new | +$25M |
| RY Royal Bank of Canada | +$11M |
| WBD Warner Bros. Discovery, Inc. | +$5M |
| CNI Canadian National Railway Comp | +$1M |
| BMO Bank of Montreal | +$1M |
| ATKR Atkore Inc.new | +$1M |
| UA Under Armour, Inc.new | +$1M |
| FNV Franco-Nevada Corporationnew | +$1M |
| ODV Osisko Development Corp.new | +$1M |
| IMXI International Money Express, Inew | +$0M |
Top sells this quarter · 15
| NTR Nutrien Ltd. | −$63M |
| TRP TC Energy Corporationexit | −$62M |
| SUNC SunocoCorp LLC | −$16M |
| NFLX Netflix, Inc.exit | −$5M |
| CLST Catalyst Bancorp, Inc.exit | −$4M |
| RKT Rocket Companies, Inc.exit | −$4M |
| GIL Gildan Activewear Inc.exit | −$3M |
| ABUS Arbutus Biopharma Corporationexit | −$1M |
| TASK TaskUs, Inc.exit | −$1M |
| NGD New Gold Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $249M | 59 | +79.39% | +17.59% | +61.80% | +0.06B |
| 2025-12-31 | $161M | 39 | +35.09% | +17.72% | +17.37% | -0.36B |
| 2025-09-30 | $507M | 46 | +43.98% | +17.52% | +26.46% | +0.26B |
| 2025-06-30 | $178M | 50 | +14.50% | +14.94% | -0.44% | -0.43B |
| 2025-03-31 | $560M | 71 | +1.10% | +8.30% | -7.20% | +0.38B |
| 2024-12-31 | $211M | 39 | +34.68% | +24.89% | +9.80% | -0.04B |
| 2024-09-30 | $226M | 57 | +29.22% | +36.04% | -6.82% | -0.27B |
| 2024-06-30 | $444M | 41 | +5.25% | +24.49% | -19.24% | -0.45B |
| 2024-03-31 | $939M | 60 | +15.90% | +29.62% | -13.72% | +0.29B |
| 2023-12-31 | $567M | 32 | +2.67% | +26.18% | -23.51% | -0.12B |
| 2023-09-30 | $649M | 34 | -14.66% | +21.57% | -36.23% | -0.03B |
| 2023-06-30 | $747M | 49 | -22.19% | +19.42% | -41.61% | +0.22B |
| 2023-03-31 | $506M | 29 | -43.37% | -7.82% | -35.56% | -0.25B |
| 2022-12-31 | $742M | 43 | -12.31% | +7.56% | -19.87% | +0.46B |
| 2022-09-30 | $321M | 81 | -17.02% | -4.93% | -12.09% | -0.10B |
| 2022-06-30 | $510M | 100 | -23.50% | -16.11% | -7.39% | +0.13B |