Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+9.18%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.20%
baseline attrition
Rally response
-10.74%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| FIFiserv, Inc. | $6M | 4.3% | — | 1.5 yr |
| VSTVistra Corp. | $6M | 4.3% | +28.7% | 1.5 yr |
| LOPEGrand Canyon Education, | $6M | 4.2% | -1.7% | 1.5 yr |
| MOHMolina Healthcare, Inc. | $6M | 4.1% | -59.5% | 1.5 yr |
| PAYCPaycom Software, Inc. | $5M | 3.9% | -43.9% | 1.5 yr |
| ALKTAlkami Technology, Inc. | $5M | 3.8% | -40.3% | 1.5 yr |
| EEFTEuronet Worldwide, Inc. | $5M | 3.3% | -37.9% | 1.5 yr |
| NSPInsperity, Inc. | $4M | 3.3% | -67.6% | 1.5 yr |
| PRIPrimerica, Inc. | $4M | 3.0% | -10.5% | 1.5 yr |
| SPSCSPS Commerce, Inc. | $4M | 2.9% | -58.1% | 1.5 yr |
| AFGAmerican Financial Group | $4M | 2.8% | +2.4% | 1.5 yr |
| UPSUnited Parcel Service, I | $4M | 2.6% | -4.4% | 1.5 yr |
| AJGArthur J. Gallagher & Co | $3M | 2.6% | -36.6% | 1.5 yr |
| PLOWDouglas Dynamics, Inc. | $3M | 2.5% | +87.7% | 1.5 yr |
| USPHU.S. Physical Therapy, I | $3M | 2.5% | +6.1% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application10.7%+2.5pp$15M
Software - Infrastructure7.8%-0.1pp$11M
Information Technology Services7.1%+4.0pp$10M
Medical - Care Facilities4.9%+2.1pp$7M
Insurance - Property & Casualty4.9%-0.2pp$7M
Independent Power Producers4.3%+2.2pp$6M
Education & Training Services4.2%+0.9pp$6M
Medical - Healthcare Plans4.1%+1.5pp$6M
Staffing & Employment Services3.8%-0.1pp$5M
Financial - Capital Markets3.8%+1.5pp$5M
Country
US99.6%+1.7pp
CA0.3%+0.0pp
GB0.1%-1.7pp
Top 5: 20.7% · Top 10: 37.0% · Top 25: 69.7%
Top buys this quarter · 15
| FIS Fidelity National Information new | +$3M |
| PAYC Paycom Software, Inc. | +$2M |
| ZBH Zimmer Biomet Holdings, Inc.new | +$2M |
| LPLA LPL Financial Holdings Inc.new | +$2M |
| ALKT Alkami Technology, Inc. | +$5M |
| VST Vistra Corp. | +$1M |
| NOW ServiceNow, Inc.new | +$1M |
| SPSC SPS Commerce, Inc. | +$4M |
| AJG Arthur J. Gallagher & Co. | +$1M |
| EEFT Euronet Worldwide, Inc. | +$1M |
Top sells this quarter · 15
| FOLD Amicus Therapeutics, Inc.exit | −$11M |
| ADV Advantage Solutions Inc.exit | −$5M |
| LCII LCI Industries | −$3M |
| GEF Greif, Inc. | −$2M |
| PLOW Douglas Dynamics, Inc. | −$2M |
| OPCH Option Care Health, Inc. | −$2M |
| UPS United Parcel Service, Inc. | −$2M |
| CSWC Capital Southwest Corporationexit | −$2M |
| HCSG Healthcare Services Group, Inc | −$1M |
| SMCI Super Micro Computer, Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $136M | 76 | -3.15% | +17.59% | -20.74% | -0.02B |
| 2025-12-31 | $165M | 78 | -0.09% | +17.72% | -17.81% | -0.02B |
| 2025-09-30 | $184M | 78 | -0.04% | +8.12% | -8.16% | -0.00B |
| 2025-06-30 | $187M | 77 | +3.41% | +10.78% | -7.37% | +0.01B |
| 2025-03-31 | $168M | 80 | -3.51% | -4.27% | +0.76% | +0.02B |
| 2024-12-31 | $157M | 83 | — | — | — | — |