Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.26%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.50%
steady accumulation
Rally response
+3.24%
adds into rallies
when a holding rises +10%+
Top positions · 22
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TLNTalen Energy Corporation | $206M | 17.0% | +59.9% | 1.8 yr |
| TDSTelephone and Data Syste | $195M | 16.1% | +9.1% | 1.3 yr |
| VSATViasat, Inc. | $148M | 12.2% | +339.5% | 1.0 yr |
| COMMCommScope Holding Compan | $139M | 11.5% | — | 1.8 yr |
| CTRICenturi Holdings, Inc. | $133M | 11.0% | +78.2% | 1.8 yr |
| BKDBrookdale Senior Living | $117M | 9.7% | +118.5% | 1.8 yr |
| SATSEchoStar Corporation | $68M | 5.6% | +357.7% | 1.3 yr |
| ACHCAcadia Healthcare Compan | $55M | 4.5% | -22.9% | 0.3 yr |
| CNNECannae Holdings, Inc. | $37M | 3.1% | -35.7% | 1.8 yr |
| DHCDiversified Healthcare T | $35M | 2.9% | +180.2% | 1.0 yr |
| — | $16M | 1.3% | — | 4.3 yr |
| ATUSAltice USA, Inc. | $9M | 0.7% | — | 2.3 yr |
| CPTCamden Property Trust | $8M | 0.6% | -17.8% | 1.8 yr |
| EQREquity Residential | $7M | 0.6% | -14.7% | 2.0 yr |
| UDRUDR, Inc. | $7M | 0.6% | -21.8% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Communication Equipment29.3%+24.7pp$355M
Independent Power Producers17.0%+15.6pp$206M
Telecommunications Services16.8%+6.3pp$203M
Medical - Care Facilities14.5%+13.8pp$176M
Regulated Gas11.0%$133M
REIT - Residential3.1%-3.2pp$37M
Restaurants3.1%-7.9pp$37M
REIT - Healthcare Facilities2.9%$35M
Unknown1.8%-17.5pp$22M
Entertainment0.4%$5M
Country
US98.2%+17.5pp
Unknown1.8%-17.5pp
Top 5: 67.7% · Top 10: 93.5% · Top 25: 100.0%
Top buys this quarter · 12
| ACHC Acadia Healthcare Company, Incnew | +$55M |
| TLN Talen Energy Corporation | +$206M |
| TDS Telephone and Data Systems, In | +$18M |
| BKD Brookdale Senior Living Inc. | +$17M |
| CTRI Centuri Holdings, Inc. | +$17M |
| VSAT Viasat, Inc. | +$12M |
| DHC Diversified Healthcare Trust | +$3M |
| CYH Community Health Systems, Inc. | +$3M |
| CORZ Core Scientific, Inc. | +$0M |
| ATUS Altice USA, Inc. | +$9M |
Top sells this quarter · 11
| GEO The GEO Group, Inc.exit | −$17M |
| SPHR Sphere Entertainment Co. | −$5M |
| SATS EchoStar Corporation | −$7M |
| CZR Caesars Entertainment, Inc.exit | −$7M |
| CPT Camden Property Trust | −$2M |
| EQR Equity Residential | −$2M |
| UDR UDR, Inc. | −$2M |
| AVB AvalonBay Communities, Inc. | −$2M |
| ESS Essex Property Trust, Inc. | −$1M |
| MAA Mid-America Apartment Communit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.21B | 22 | +32.51% | +17.59% | +14.92% | +0.21B |
| 2025-12-31 | $945M | 22 | +23.91% | +17.72% | +6.19% | +0.02B |
| 2025-09-30 | $889M | 22 | +44.86% | +17.52% | +27.35% | +0.12B |
| 2025-06-30 | $640M | 20 | +34.19% | +14.94% | +19.25% | +0.13B |
| 2025-03-31 | $506M | 19 | +37.94% | +8.30% | +29.64% | -0.00B |
| 2024-12-31 | $508M | 24 | +50.35% | +24.89% | +25.46% | +0.10B |
| 2024-09-30 | $332M | 21 | +29.27% | +36.04% | -6.76% | +0.05B |
| 2024-06-30 | $254M | 17 | -2.05% | +24.49% | -26.54% | +0.03B |
| 2024-03-31 | $213M | 9 | +1.19% | +29.62% | -28.43% | +0.00B |
| 2023-12-31 | $194M | 11 | -6.62% | +26.18% | -32.80% | +0.03B |
| 2023-09-30 | $160M | 13 | -10.21% | +21.57% | -31.78% | +0.04B |
| 2023-06-30 | $147M | 9 | -3.62% | +19.42% | -23.05% | -0.00B |
| 2023-03-31 | $140M | 9 | -16.00% | -7.82% | -8.18% | -0.05B |
| 2022-12-31 | $194M | 12 | +0.30% | +7.56% | -7.26% | +0.05B |
| 2022-09-30 | $140M | 13 | -9.98% | -4.93% | -5.05% | +0.02B |
| 2022-06-30 | $133M | 12 | -7.17% | -16.11% | +8.94% | +0.02B |