Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+22.22%
adds when stocks drop
when a holding falls −10%+
Middle response
-15.42%
baseline attrition
Rally response
-13.94%
trims into rallies
when a holding rises +10%+
Top positions · 19
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XOMExxon Mobil Corporation | $37M | 19.7% | +47.6% | 0.5 yr |
| NLRVanEck Uranium and Nucle | $25M | 13.2% | — | 0.3 yr |
| PBRPetróleo Brasileiro S.A | $15M | 8.2% | +54.2% | 0.3 yr |
| NXENexGen Energy Ltd. | $14M | 7.7% | +158.4% | 3.3 yr |
| URGUr-Energy Inc. | $9M | 5.0% | +121.0% | 3.3 yr |
| CVECenovus Energy Inc. | $9M | 5.0% | +97.2% | 1.3 yr |
| RIGTransocean Ltd. | $9M | 4.7% | +109.1% | 1.8 yr |
| SOLSSolstice Advanced Materi | $7M | 4.0% | — | 0.5 yr |
| WYWeyerhaeuser Company | $7M | 3.9% | -13.6% | 0.3 yr |
| WLKWestlake Corporation | $7M | 3.9% | +20.0% | 0.5 yr |
| AVNTAvient Corporation | $7M | 3.8% | +0.8% | 0.3 yr |
| ASIXAdvanSix Inc. | $7M | 3.8% | +11.6% | 0.5 yr |
| UECUranium Energy Corp. | $7M | 3.6% | +182.4% | 1.8 yr |
| EMNEastman Chemical Company | $6M | 3.2% | -9.1% | 0.3 yr |
| CRGYCrescent Energy Company | $5M | 2.6% | +26.2% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Oil & Gas Integrated32.9%+21.6pp$61M
Uranium19.6%-26.4pp$37M
Asset Management15.6%$29M
Chemicals - Specialty11.7%$22M
Chemicals7.0%$13M
Oil & Gas Drilling4.7%$9M
Paper, Lumber & Forest Products3.9%$7M
Oil & Gas Exploration & Production2.6%-13.6pp$5M
Oil & Gas Equipment & Services2.1%-3.4pp$4M
Country
US71.1%+26.4pp
CA16.0%-29.8pp
BR8.2%
CH4.7%
Top 5: 53.8% · Top 10: 75.3% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| NXE | $19M | +0.03B | 158.4% |
| CCJ | $18M | +0.03B | 164.4% |
| UEC | $11M | +0.02B | 182.4% |
| DNN | $8M | +0.01B | 171.5% |
| CVE | $6M | +0.01B | 97.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 8
| XOM Exxon Mobil Corporation | +$23M |
| PBR Petróleo Brasileiro S.A. - Penew | +$15M |
| WY Weyerhaeuser Companynew | +$7M |
| AVNT Avient Corporationnew | +$7M |
| EMN Eastman Chemical Companynew | +$6M |
| ASIX AdvanSix Inc. | +$5M |
| CRGY Crescent Energy Companynew | +$5M |
| NLR VanEck Uranium and Nuclear ETFnew | +$0M |
Top sells this quarter · 15
| CCJ Cameco Corporation | −$26M |
| NXE NexGen Energy Ltd. | −$21M |
| UEC Uranium Energy Corp. | −$19M |
| SOLS Solstice Advanced Materials In | −$19M |
| DNN Denison Mines Corp. | −$18M |
| VAL Valaris Limitedexit | −$18M |
| TDW Tidewater Inc.exit | −$16M |
| CE Celanese Corporationexit | −$12M |
| SLB SLB N.V. | −$12M |
| HON Honeywell International Inc.exit | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $187M | 19 | +96.41% | +17.59% | +78.82% | -0.07B |
| 2025-12-31 | $185M | 16 | +21.13% | +17.72% | +3.41% | -0.02B |
| 2025-09-30 | $208M | 14 | +19.45% | +17.52% | +1.93% | +0.03B |
| 2025-06-30 | $143M | 15 | -7.63% | +14.94% | -22.57% | -0.01B |
| 2025-03-31 | $132M | 18 | -19.77% | +8.30% | -28.07% | +0.00B |
| 2024-12-31 | $153M | 17 | +4.88% | +24.89% | -20.00% | -0.04B |
| 2024-09-30 | $200M | 20 | +8.98% | +36.04% | -27.06% | +0.04B |
| 2024-06-30 | $163M | 17 | +41.49% | +24.49% | +17.00% | +0.02B |
| 2024-03-31 | $141M | 12 | +56.60% | +29.62% | +26.98% | -0.03B |
| 2023-12-31 | $158M | 16 | +2.98% | +11.64% | -8.66% | -0.04B |
| 2023-09-30 | $194M | 15 | +23.68% | -3.22% | +26.91% | -0.03B |
| 2023-06-30 | $178M | 15 | +11.07% | +8.68% | +2.39% | +0.02B |
| 2023-03-31 | $142M | 16 | — | — | — | — |