Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-16.72%
baseline attrition
Rally response
-39.63%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HPQHP Inc. | $0M | 2.4% | -27.1% | 0.5 yr |
| MLCOMelco Resorts & Entertai | $0M | 2.0% | +7.8% | 0.8 yr |
| FSMFortuna Mining Corp. | $0M | 1.9% | +62.8% | 0.8 yr |
| HLFHerbalife Nutrition Ltd. | $0M | 1.8% | +70.6% | 1.0 yr |
| SWBISmith & Wesson Brands, I | $0M | 1.8% | +61.7% | 0.5 yr |
| EFC-PDEllington Financial Inc. | $0M | 1.7% | — | 0.3 yr |
| ATECAlphatec Holdings, Inc. | $0M | 1.7% | +7.3% | 0.8 yr |
| AXLAmerican Axle & Manufact | $0M | 1.7% | — | 1.0 yr |
| SB-PCSafe Bulkers, Inc. | $0M | 1.6% | — | 0.3 yr |
| SANBanco Santander, S.A. | $0M | 1.5% | +73.5% | 0.3 yr |
| F-PDFord Motor Company 6.500 | $0M | 1.5% | -0.8% | 0.8 yr |
| QUADQuad/Graphics, Inc. | $0M | 1.5% | +27.9% | 0.8 yr |
| OISOil States International | $0M | 1.5% | +126.0% | 0.5 yr |
| ALTGAlta Equipment Group Inc | $0M | 1.4% | +15.7% | 0.8 yr |
| AGNCZAGNC Investment Corp. 8. | $0M | 1.4% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
REIT - Mortgage6.5%+5.3pp$1M
Software - Application6.0%+0.5pp$1M
Internet Content & Information4.4%+3.0pp$0M
Banks - Regional3.8%-5.5pp$0M
Drug Manufacturers - Specialty & Generic3.6%$0M
Restaurants3.5%+3.0pp$0M
Auto - Manufacturers3.3%+3.0pp$0M
Auto - Parts3.2%+2.9pp$0M
Gold3.2%$0M
Unknown3.0%+1.7pp$0M
Country
US63.4%-26.7pp
GB5.8%+2.0pp
CA5.4%
Unknown3.0%+1.7pp
BR2.9%+2.7pp
CN2.2%
HK2.0%
IL1.9%+1.7pp
Top 5: 9.9% · Top 10: 18.1% · Top 25: 39.2%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SAN Banco Santander, S.A.new | +$0M |
| RIG Transocean Ltd.new | +$0M |
| NEXT NextDecade Corporationnew | +$0M |
| HLN Haleon plcnew | +$0M |
| MTA Metalla Royalty & Streaming Ltnew | +$0M |
| GO Grocery Outlet Holding Corp.new | +$0M |
| TROX Tronox Holdings plcnew | +$0M |
| BTDR Bitdeer Technologies Groupnew | +$0M |
| RPD Rapid7, Inc.new | +$0M |
| HIMX Himax Technologies, Inc.new | +$0M |
Top sells this quarter · 15
| DK Delek US Holdings, Inc.exit | −$1M |
| LITE Lumentum Holdings Inc.exit | −$1M |
| CENX Century Aluminum Companyexit | −$1M |
| FSLY Fastly, Inc.exit | −$1M |
| PBR Petróleo Brasileiro S.A. - Peexit | −$1M |
| NBR Nabors Industries Ltd.exit | −$1M |
| PL Planet Labs PBCexit | −$1M |
| AMPX Amprius Technologies, Inc.exit | −$1M |
| LXU LSB Industries, Inc.exit | −$1M |
| PLAB Photronics, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $10M | 96 | +8.09% | +17.59% | -9.50% | -0.18B |
| 2025-12-31 | $197M | 666 | +5.60% | +17.72% | -12.11% | +0.02B |
| 2025-09-30 | $177M | 652 | +2.27% | +8.12% | -5.85% | +0.11B |
| 2025-06-30 | $70M | 266 | +6.31% | +10.78% | -4.47% | -0.01B |
| 2025-03-31 | $72M | 259 | -3.80% | -4.27% | +0.47% | -0.04B |
| 2024-12-31 | $118M | 379 | — | — | — | — |