Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-6.32%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.62%
baseline attrition
Rally response
-14.00%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VEAVanguard FTSE Developed | $3M | 2.3% | — | 4.5 yr |
| VTIVanguard Total Stock Mar | $3M | 2.2% | — | 4.5 yr |
| NVDANVIDIA Corporation | $2M | 1.6% | +60.9% | 4.5 yr |
| VWOVanguard FTSE Emerging M | $2M | 1.5% | — | 4.5 yr |
| WULFTeraWulf Inc. | $2M | 1.3% | +428.6% | 2.0 yr |
| BILState Street SPDR Bloomb | $2M | 1.2% | — | 4.3 yr |
| VYMVanguard High Dividend Y | $2M | 1.2% | — | 4.5 yr |
| TMSTTimkenSteel Corporation | $2M | 1.2% | — | 2.5 yr |
| JOEThe St. Joe Company | $1M | 1.0% | +35.3% | 4.5 yr |
| RYZRyerson Holding Corporat | $1M | 1.0% | +1.1% | 4.3 yr |
| FEIMFrequency Electronics, I | $1M | 1.0% | +182.8% | 0.3 yr |
| ONDSOndas Holdings Inc. | $1M | 0.9% | +744.9% | 0.8 yr |
| GOOGLAlphabet Inc. | $1M | 0.8% | — | 4.5 yr |
| AAPLApple Inc. | $1M | 0.8% | +14.7% | 4.5 yr |
| CLSKCleanSpark, Inc. | $1M | 0.8% | +26.6% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.6%+6.9pp$21M
Semiconductors4.4%+0.1pp$6M
Software - Infrastructure4.1%-0.9pp$6M
Internet Content & Information3.6%+0.5pp$5M
Communication Equipment3.3%+2.9pp$5M
Financial - Capital Markets3.1%+1.8pp$4M
Software - Application2.9%-1.2pp$4M
Biotechnology2.5%-1.1pp$4M
Banks - Regional2.0%-0.0pp$3M
Aerospace & Defense1.9%+0.4pp$3M
Country
US93.6%+0.5pp
CA1.4%+0.7pp
Unknown1.3%+0.4pp
IE0.7%-0.4pp
RU0.5%+0.4pp
GB0.5%-0.2pp
BM0.4%-0.6pp
IL0.3%-0.0pp
Top 5: 8.9% · Top 10: 14.5% · Top 25: 25.2%
Top buys this quarter · 15
| RYZ Ryerson Holding Corporation | +$1M |
| FEIM Frequency Electronics, Inc.new | +$1M |
| CLSK CleanSpark, Inc.new | +$1M |
| RCAT Red Cat Holdings, Inc.new | +$1M |
| ONDS Ondas Holdings Inc. | +$1M |
| KTOS Kratos Defense & Security Solu | +$1M |
| FAST Fastenal Company | +$1M |
| MSM MSC Industrial Direct Co., Inc | +$0M |
| WDAY Workday, Inc. | +$0M |
| CIFR Cipher Mining Inc. | +$0M |
Top sells this quarter · 15
| BW Babcock & Wilcox Enterprises, exit | −$3M |
| CRS Carpenter Technology Corporati | −$1M |
| KALU Kaiser Aluminum Corporation | −$1M |
| SATS EchoStar Corporation | −$1M |
| AA Alcoa Corporation | −$1M |
| MLI Mueller Industries, Inc. | −$1M |
| ROK Rockwell Automation, Inc. | −$1M |
| BHF Brighthouse Financial, Inc. | −$0M |
| FIX Comfort Systems USA, Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $144M | 2188 | +22.29% | +17.59% | +4.70% | -0.05B |
| 2025-12-31 | $191M | 2206 | +14.64% | +17.72% | -3.08% | +0.00B |
| 2025-09-30 | $181M | 2216 | +12.98% | +17.52% | -4.54% | -0.00B |
| 2025-06-30 | $170M | 2130 | +10.78% | +14.94% | -4.16% | +0.01B |
| 2025-03-31 | $149M | 2143 | -0.27% | +8.30% | -8.57% | -0.00B |
| 2024-12-31 | $159M | 2167 | +12.57% | +24.89% | -12.32% | -0.00B |
| 2024-09-30 | $159M | 2140 | +24.56% | +36.04% | -11.48% | -0.01B |
| 2024-06-30 | $154M | 2170 | +13.93% | +24.49% | -10.56% | +0.00B |
| 2024-03-31 | $157M | 2170 | +21.90% | +29.62% | -7.72% | +0.00B |
| 2023-12-31 | $146M | 2069 | +22.12% | +26.18% | -4.05% | -0.00B |
| 2023-09-30 | $132M | 2036 | +16.84% | +21.57% | -4.73% | +0.00B |
| 2023-06-30 | $131M | 2052 | +13.40% | +19.42% | -6.02% | +0.01B |
| 2023-03-31 | $115M | 1927 | -9.15% | -7.82% | -1.33% | -0.02B |
| 2022-12-31 | $122M | 1972 | -18.72% | -18.17% | -0.54% | +0.00B |
| 2022-09-30 | $113M | 1899 | -5.33% | -4.93% | -0.40% | -0.00B |
| 2022-06-30 | $121M | 1811 | -16.08% | -16.11% | +0.04% | -0.00B |