Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.07%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.58%
baseline attrition
Rally response
-17.80%
trims into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XPELXPEL, Inc. | $85M | 22.5% | +50.6% | 1.8 yr |
| NATLNCR Atleos Corporation | $68M | 18.0% | +65.2% | 1.0 yr |
| DAKTDaktronics, Inc. | $66M | 17.4% | +60.5% | 3.8 yr |
| BTSGBrightSpring Health Serv | $61M | 16.1% | +135.5% | 0.8 yr |
| CARGCarGurus, Inc. | $54M | 14.3% | +16.9% | 0.8 yr |
| TOSTToast, Inc. | $20M | 5.2% | -20.1% | 0.3 yr |
| BCOThe Brink's Company | $12M | 3.1% | +21.5% | 0.3 yr |
| TRSTriMas Corporation | $8M | 2.1% | +54.1% | 1.3 yr |
| IDTIDT Corporation | $5M | 1.3% | -3.9% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Auto - Parts22.5%$85M
Software - Application18.0%+14.9pp$68M
Hardware, Equipment & Parts17.4%-11.4pp$66M
Medical - Healthcare Information Services16.1%$61M
Auto - Dealerships14.3%$54M
Software - Infrastructure5.2%-1.1pp$20M
Security & Protection Services3.1%$12M
Packaging & Containers2.1%-4.8pp$8M
Telecommunications Services1.3%-1.5pp$5M
Country
US100.0%+5.0pp
Top 5: 88.4% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| IDT | $7M | -0.00B | -3.9% |
Top buys this quarter · 6
| XPEL XPEL, Inc. | +$21M |
| TOST Toast, Inc.new | +$20M |
| BCO The Brink's Companynew | +$12M |
| CARG CarGurus, Inc. | +$11M |
| BTSG BrightSpring Health Services, | +$8M |
| IDT IDT Corporation | +$5M |
Top sells this quarter · 10
| REZI Resideo Technologies, Inc.exit | −$43M |
| AMZN Amazon.com, Inc.exit | −$17M |
| NATL NCR Atleos Corporation | −$17M |
| FIGS FIGS, Inc.exit | −$13M |
| FICO Fair Isaac Corporationexit | −$13M |
| TRS TriMas Corporation | −$12M |
| ARES Ares Management Corporationexit | −$11M |
| META Meta Platforms, Inc.exit | −$9M |
| DAKT Daktronics, Inc. | −$7M |
| MSFT Microsoft Corporationexit | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $378M | 9 | +36.35% | +17.59% | +18.76% | -0.08B |
| 2025-12-31 | $465M | 13 | +21.37% | +17.72% | +3.65% | +0.02B |
| 2025-09-30 | $449M | 19 | +34.40% | +17.52% | +16.89% | +0.02B |
| 2025-06-30 | $368M | 19 | +26.27% | +14.94% | +11.33% | +0.06B |
| 2025-03-31 | $252M | 15 | +7.23% | +8.30% | -1.07% | +0.01B |
| 2024-12-31 | $281M | 13 | +38.65% | +24.89% | +13.76% | +0.07B |
| 2024-09-30 | $196M | 14 | +36.73% | +36.04% | +0.70% | +0.02B |
| 2024-06-30 | $158M | 13 | +30.74% | +24.49% | +6.24% | +0.02B |
| 2024-03-31 | $131M | 12 | +41.83% | +29.62% | +12.21% | -0.05B |
| 2023-12-31 | $156M | 15 | +38.50% | +26.18% | +12.32% | +0.06B |
| 2023-09-30 | $91M | 16 | +28.13% | +21.57% | +6.56% | -0.04B |
| 2023-06-30 | $122M | 15 | +8.14% | +19.42% | -11.28% | +0.00B |
| 2023-03-31 | $106M | 10 | -2.79% | -7.82% | +5.03% | -0.03B |
| 2022-12-31 | $126M | 14 | +0.57% | +7.56% | -6.99% | -0.20B |
| 2022-09-30 | $324M | 15 | -11.87% | -4.93% | -6.95% | -0.02B |
| 2022-06-30 | $393M | 15 | -0.14% | -16.11% | +15.97% | -0.02B |