Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.12%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.67%
baseline attrition
Rally response
-2.55%
trims into rallies
when a holding rises +10%+
Top positions · 3
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FNDFloor & Decor Holdings, | $68M | 57.0% | -36.9% | 3.5 yr |
| COSTCostco Wholesale Corpora | $50M | 42.0% | +5.9% | 3.5 yr |
| CDLXCardlytics, Inc. | $1M | 1.0% | -42.3% | 3.5 yr |
Portfolio composition (YoY)
Industry mix
Home Improvement57.0%+7.1pp$68M
Discount Stores42.0%-7.0pp$50M
Advertising Agencies1.0%-0.2pp$1M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 1
| FND Floor & Decor Holdings, Inc. | +$68M |
Top sells this quarter · 1
| COST Costco Wholesale Corporation | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $118M | 3 | -18.68% | +17.59% | -36.27% | -0.01B |
| 2025-12-31 | $134M | 3 | -25.54% | +17.72% | -43.26% | -0.01B |
| 2025-09-30 | $167M | 3 | -23.17% | +17.52% | -40.69% | -0.01B |
| 2025-06-30 | $182M | 3 | -10.11% | +14.94% | -25.05% | +0.01B |
| 2025-03-31 | $177M | 3 | -21.13% | +8.30% | -29.43% | +0.00B |
| 2024-12-31 | $191M | 3 | +2.75% | +24.89% | -22.14% | +0.00B |
| 2024-09-30 | $210M | 3 | +31.68% | +36.04% | -4.36% | +0.00B |
| 2024-06-30 | $186M | 3 | +17.16% | +24.49% | -7.33% | +0.00B |
| 2024-03-31 | $212M | 3 | +44.91% | +29.62% | +15.29% | +0.00B |
| 2023-12-31 | $180M | 3 | +52.88% | +26.18% | +26.70% | +0.00B |
| 2023-09-30 | $157M | 4 | -0.19% | -3.22% | +3.03% | -0.02B |
| 2023-06-30 | $175M | 4 | +7.90% | +8.68% | -0.78% | +0.00B |
| 2023-03-31 | $158M | 4 | +23.47% | +7.46% | +16.01% | -0.00B |
| 2022-12-31 | $129M | 4 | — | — | — | — |