Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.53%
adds when stocks drop
when a holding falls −10%+
Middle response
-10.91%
baseline attrition
Rally response
-12.93%
trims into rallies
when a holding rises +10%+
Top positions · 15
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GFLGFL Environmental Inc. | $9M | 13.1% | -13.5% | 3.0 yr |
| DRVNDriven Brands Holdings I | $8M | 12.2% | -26.4% | 1.3 yr |
| APGAPi Group Corporation | $7M | 11.0% | +70.0% | 4.5 yr |
| TFIITFI International Inc. | $7M | 10.7% | +42.3% | 4.5 yr |
| — | $5M | 8.0% | — | 0.8 yr |
| FLYWFlywire Corporation | $5M | 7.0% | +22.5% | 1.8 yr |
| DSGRDistribution Solutions G | $4M | 6.3% | -6.3% | 4.5 yr |
| FSVFirstService Corporation | $4M | 5.8% | -15.9% | 1.3 yr |
| MGNIMagnite, Inc. | $3M | 5.2% | +4.1% | 1.0 yr |
| CTRICenturi Holdings, Inc. | $3M | 4.9% | +78.2% | 0.3 yr |
| KSPIJoint Stock Company Kasp | $3M | 4.2% | -20.2% | 1.0 yr |
| PRTHPriority Technology Hold | $3M | 4.0% | -30.8% | 0.5 yr |
| DSPViant Technology Inc. | $2M | 3.8% | -9.8% | 0.8 yr |
| VRRMVerra Mobility Corporati | $2M | 3.7% | -36.5% | 0.3 yr |
| TTAMTitan America S.A. | $0M | 0.2% | +12.0% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Waste Management13.1%+3.6pp$9M
Auto - Dealerships12.2%-2.0pp$8M
Engineering & Construction11.0%-2.8pp$7M
Trucking10.7%+5.7pp$7M
Information Technology Services10.6%+6.8pp$7M
Software - Infrastructure8.2%-0.7pp$5M
Unknown8.0%+5.0pp$5M
Industrial - Distribution6.3%-1.5pp$4M
Real Estate - Services5.8%+3.9pp$4M
Advertising Agencies5.2%$3M
Country
US58.0%-22.6pp
CA29.6%+13.2pp
Unknown8.0%+5.0pp
KZ4.2%
BE0.2%
Top 5: 55.0% · Top 10: 84.1% · Top 25: 100.0%
Top buys this quarter · 8
| — | +$0M |
| TFII TFI International Inc. | +$3M |
| CTRI Centuri Holdings, Inc.new | +$3M |
| VRRM Verra Mobility Corporationnew | +$2M |
| DSP Viant Technology Inc. | +$1M |
| DSGR Distribution Solutions Group, | +$1M |
| DRVN Driven Brands Holdings Inc. | +$8M |
| TTAM Titan America S.A.new | +$0M |
Top sells this quarter · 10
| APG APi Group Corporation | −$11M |
| GFL GFL Environmental Inc. | −$4M |
| CWAN Clearwater Analytics Holdings,exit | −$4M |
| EEFT Euronet Worldwide, Inc.exit | −$3M |
| FLYW Flywire Corporation | −$2M |
| ACVA ACV Auctions Inc.exit | −$2M |
| FSV FirstService Corporation | −$2M |
| KSPI Joint Stock Company Kaspi.kz | −$1M |
| MGNI Magnite, Inc. | −$1M |
| PRTH Priority Technology Holdings, | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $65M | 15 | -8.64% | +17.59% | -26.23% | -0.02B |
| 2025-12-31 | $89M | 15 | -9.55% | +17.72% | -27.26% | -0.03B |
| 2025-09-30 | $116M | 15 | -6.57% | +17.52% | -24.09% | -0.01B |
| 2025-06-30 | $133M | 15 | +2.05% | +14.94% | -12.89% | +0.01B |
| 2025-03-31 | $112M | 14 | -15.89% | +8.30% | -24.19% | -0.02B |
| 2024-12-31 | $140M | 12 | -1.72% | +24.89% | -26.61% | -0.01B |
| 2024-09-30 | $148M | 12 | +13.36% | +36.04% | -22.68% | -0.01B |
| 2024-06-30 | $155M | 11 | +4.42% | +24.49% | -20.07% | +0.02B |
| 2024-03-31 | $157M | 13 | +28.45% | +29.62% | -1.18% | +0.00B |
| 2023-12-31 | $145M | 12 | +38.01% | +26.18% | +11.83% | +0.00B |
| 2023-09-30 | $120M | 11 | +30.82% | +21.57% | +9.25% | -0.00B |
| 2023-06-30 | $132M | 11 | +28.75% | +19.42% | +9.33% | -0.03B |
| 2023-03-31 | $145M | 11 | -15.60% | -7.82% | -7.78% | +0.00B |
| 2022-12-31 | $125M | 11 | +12.32% | +7.56% | +4.76% | -0.00B |
| 2022-09-30 | $111M | 12 | -8.24% | -4.93% | -3.31% | +0.01B |
| 2022-06-30 | $114M | 10 | -28.80% | -16.11% | -12.69% | -0.00B |