Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.74%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.35%
baseline attrition
Rally response
+5.64%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| THRThermon Group Holdings, | $49M | 10.2% | +81.0% | 1.5 yr |
| KMTKennametal Inc. | $40M | 8.4% | +75.0% | 1.0 yr |
| MSMMSC Industrial Direct Co | $27M | 5.6% | +22.7% | 0.5 yr |
| GEFGreif, Inc. | $25M | 5.3% | +26.2% | 1.5 yr |
| — | $25M | 5.2% | — | 1.5 yr |
| NSITInsight Enterprises, Inc | $23M | 4.7% | -55.3% | 0.3 yr |
| STSensata Technologies Hol | $21M | 4.4% | +47.4% | 0.5 yr |
| NPKNational Presto Industri | $19M | 4.0% | +57.1% | 1.5 yr |
| PHINPHINIA Inc. | $18M | 3.8% | +64.6% | 2.3 yr |
| DNOWDnow Inc. | $17M | 3.5% | -30.3% | 0.5 yr |
| HNIHNI Corporation | $16M | 3.4% | -22.3% | 0.5 yr |
| BCCBoise Cascade Company | $16M | 3.3% | -21.9% | 0.5 yr |
| — | $16M | 3.3% | — | 0.8 yr |
| TSTenaris S.A. | $15M | 3.1% | +56.1% | 1.8 yr |
| LKQLKQ Corporation | $14M | 2.9% | -28.4% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Industrial - Machinery15.0%+8.6pp$72M
Unknown8.4%+3.0pp$40M
Manufacturing - Tools & Accessories8.4%$40M
Packaging & Containers7.1%-5.2pp$34M
Industrial - Distribution6.9%$33M
Auto - Parts6.6%+1.4pp$32M
Oil & Gas Equipment & Services6.6%-9.1pp$31M
Technology Distributors6.5%$31M
Information Technology Services5.2%$25M
Hardware, Equipment & Parts4.4%$21M
Country
US83.5%+13.6pp
Unknown8.4%+3.0pp
LU5.8%+0.1pp
IL2.2%
Top 5: 34.7% · Top 10: 55.1% · Top 25: 95.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| THR | $23M | +0.02B | 81.0% |
| PHIN | $18M | +0.01B | 64.6% |
| ATMU | $21M | +0.01B | 55.3% |
| TS | $20M | +0.01B | 56.1% |
| NPK | $15M | +0.01B | 57.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| NSIT Insight Enterprises, Inc.new | +$23M |
| ST Sensata Technologies Holding p | +$17M |
| MSM MSC Industrial Direct Co., Inc | +$17M |
| GLOB Globant S.A.new | +$13M |
| VREX Varex Imaging Corporationnew | +$13M |
| FELE Franklin Electric Co., Inc.new | +$12M |
| REZI Resideo Technologies, Inc. | +$12M |
| TASK TaskUs, Inc. | +$10M |
| AMN AMN Healthcare Services, Inc.new | +$10M |
| SCSC ScanSource, Inc.new | +$8M |
Top sells this quarter · 15
| ECVT Ecovyst Inc.exit | −$28M |
| IOSP Innospec Inc.exit | −$28M |
| TS Tenaris S.A. | −$18M |
| ATMU Atmus Filtration Technologies | −$16M |
| AAP Advance Auto Parts, Inc.exit | −$16M |
| PLUS ePlus inc.exit | −$15M |
| DXPE DXP Enterprises, Inc. | −$5M |
| IEX IDEX Corporationexit | −$12M |
| NPK National Presto Industries, In | −$10M |
| GIII G-III Apparel Group, Ltd.exit | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $477M | 30 | +26.64% | +17.59% | +9.05% | +0.00B |
| 2025-12-31 | $428M | 24 | +5.59% | +17.72% | -12.13% | -0.02B |
| 2025-09-30 | $428M | 28 | +1.39% | +17.52% | -16.13% | +0.04B |
| 2025-06-30 | $365M | 22 | +0.61% | +14.94% | -14.33% | +0.00B |
| 2025-03-31 | $350M | 20 | -4.00% | +8.30% | -12.30% | +0.12B |
| 2024-12-31 | $244M | 15 | +14.77% | +24.89% | -10.12% | -0.02B |
| 2024-09-30 | $267M | 16 | +27.10% | +36.04% | -8.94% | +0.06B |
| 2024-06-30 | $200M | 14 | +17.04% | +24.49% | -7.45% | -0.00B |
| 2024-03-31 | $204M | 12 | +28.20% | +29.62% | -1.42% | +0.02B |
| 2023-12-31 | $162M | 13 | +26.87% | +26.18% | +0.70% | -0.01B |
| 2023-09-30 | $155M | 19 | +34.35% | +21.57% | +12.79% | +0.04B |
| 2023-06-30 | $113M | 12 | +27.73% | +19.42% | +8.30% | -0.01B |
| 2023-03-31 | $117M | 14 | +0.65% | -7.82% | +8.46% | -0.02B |
| 2022-12-31 | $130M | 13 | +16.98% | +7.56% | +9.42% | +0.02B |
| 2022-09-30 | $95M | 13 | -7.52% | -4.93% | -2.59% | -0.01B |
| 2022-06-30 | $117M | 19 | -15.11% | -16.11% | +1.00% | -0.02B |