Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.24%
trims when stocks drop
when a holding falls −10%+
Middle response
-11.62%
baseline attrition
Rally response
-10.52%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SGHCSuper Group (SGHC) Limit | $176M | 8.3% | +75.0% | 1.0 yr |
| RSIRush Street Interactive, | $140M | 6.5% | +102.9% | 2.8 yr |
| — | $112M | 5.2% | — | 2.0 yr |
| CELHCelsius Holdings, Inc. | $90M | 4.2% | -0.4% | 3.3 yr |
| CLSCelestica Inc. | $86M | 4.0% | +257.4% | 1.3 yr |
| SEZLSezzle Inc. | $83M | 3.9% | +81.4% | 1.5 yr |
| SNSharkNinja, Inc. | $81M | 3.8% | +27.0% | 2.8 yr |
| OMDAOmada Health | $74M | 3.5% | — | 0.8 yr |
| CVNACarvana Co. | $71M | 3.3% | +50.4% | 3.5 yr |
| FLYWFlywire Corporation | $71M | 3.3% | +22.5% | 1.3 yr |
| LITELumentum Holdings Inc. | $65M | 3.1% | +1027.3% | 1.0 yr |
| APEIAmerican Public Educatio | $60M | 2.8% | +154.8% | 0.8 yr |
| VSCOVictoria's Secret & Co. | $55M | 2.6% | +149.5% | 1.8 yr |
| FIGSFIGS, Inc. | $47M | 2.2% | +221.8% | 1.5 yr |
| — | $46M | 2.1% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Gambling, Resorts & Casinos15.1%+7.1pp$322M
Unknown8.3%-1.2pp$177M
Education & Training Services5.6%+5.6pp$121M
Financial - Credit Services5.5%+0.1pp$117M
Medical - Healthcare Information Services4.9%+4.2pp$106M
Beverages - Non-Alcoholic4.5%+1.2pp$96M
Hardware, Equipment & Parts4.4%+3.3pp$94M
Apparel - Retail3.9%+0.2pp$83M
Furnishings, Fixtures & Appliances3.9%+2.3pp$82M
Auto - Dealerships3.5%-0.8pp$74M
Country
US78.8%-3.8pp
Unknown8.3%-1.2pp
GG8.3%
CA4.0%+2.9pp
IL0.6%
JE0.1%
Top 5: 28.3% · Top 10: 46.1% · Top 25: 74.4%
Top buys this quarter · 15
| RSI Rush Street Interactive, Inc. | +$79M |
| OMDA Omada Health | +$68M |
| SGHC Super Group (SGHC) Limited | +$50M |
| CLS Celestica Inc. | +$37M |
| LINC Lincoln Educational Services Cnew | +$34M |
| ATRC AtriCure, Inc. | +$33M |
| CELH Celsius Holdings, Inc. | +$32M |
| VSCO Victoria's Secret & Co. | +$32M |
| WTTR Select Water Solutions, Inc.new | +$29M |
| HNGE Hinge Health, Inc. | +$21M |
Top sells this quarter · 15
| FSLY Fastly, Inc. | −$65M |
| IMAX IMAX Corporationexit | −$37M |
| ANGO AngioDynamics, Inc. | −$35M |
| APEI American Public Education, Inc | −$35M |
| NSSC Napco Security Technologies, I | −$30M |
| KRUS Kura Sushi USA, Inc. | −$23M |
| TPB Turning Point Brands, Inc. | −$20M |
| FIGS FIGS, Inc. | −$18M |
| LITE Lumentum Holdings Inc. | −$44M |
| MOD Modine Manufacturing Company | −$17M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.14B | 115 | +43.13% | +17.59% | +25.54% | +0.45B |
| 2025-12-31 | $1.74B | 87 | +33.62% | +17.72% | +15.90% | -0.41B |
| 2025-09-30 | $2.15B | 165 | +45.12% | +17.52% | +27.60% | +0.60B |
| 2025-06-30 | $1.49B | 130 | +41.14% | +14.94% | +26.20% | +0.26B |
| 2025-03-31 | $870M | 90 | +5.59% | +8.30% | -2.72% | +0.15B |
| 2024-12-31 | $800M | 81 | +27.52% | +24.89% | +2.63% | -0.04B |
| 2024-09-30 | $777M | 70 | +32.99% | +36.04% | -3.05% | +0.16B |
| 2024-06-30 | $612M | 59 | +9.52% | +24.49% | -14.98% | +0.16B |
| 2024-03-31 | $426M | 55 | +9.47% | +29.62% | -20.15% | -0.06B |
| 2023-12-31 | $442M | 58 | +11.42% | +26.18% | -14.76% | +0.08B |
| 2023-09-30 | $317M | 49 | +16.22% | +21.57% | -5.35% | +0.04B |
| 2023-06-30 | $335M | 40 | +41.30% | +19.42% | +21.88% | +0.09B |
| 2023-03-31 | $229M | 45 | +4.81% | -7.82% | +12.63% | +0.08B |
| 2022-12-31 | $134M | 42 | +18.08% | +7.56% | +10.52% | +0.03B |
| 2022-09-30 | $90M | 42 | +1.23% | -4.93% | +6.16% | -0.04B |
| 2022-06-30 | $126M | 40 | -21.11% | -16.11% | -5.00% | +0.03B |