Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.56%
trims when stocks drop
when a holding falls −10%+
Middle response
-18.53%
baseline attrition
Rally response
-6.33%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WMWaste Management, Inc. | $9M | 5.8% | +0.8% | 0.8 yr |
| APEIAmerican Public Educatio | $9M | 5.4% | +154.8% | 1.3 yr |
| JBHTJ.B. Hunt Transport Serv | $8M | 5.4% | +44.8% | 0.3 yr |
| ODFLOld Dominion Freight Lin | $8M | 5.0% | +18.9% | 0.3 yr |
| PRPermian Resources Corpor | $6M | 4.1% | +60.4% | 0.3 yr |
| ONTOOnto Innovation Inc. | $6M | 3.9% | +69.0% | 1.3 yr |
| COHUCohu, Inc. | $6M | 3.6% | +108.2% | 0.8 yr |
| TPBTurning Point Brands, In | $6M | 3.6% | +46.5% | 1.3 yr |
| FIXComfort Systems USA, Inc | $6M | 3.5% | +329.0% | 1.5 yr |
| FSSFederal Signal Corporati | $5M | 3.4% | +47.8% | 1.5 yr |
| CWSTCasella Waste Systems, I | $5M | 3.3% | -28.8% | 0.5 yr |
| AEISAdvanced Energy Industri | $5M | 3.1% | +239.4% | 0.8 yr |
| UCTTUltra Clean Holdings, In | $5M | 3.0% | +190.4% | 0.5 yr |
| ICHRIchor Holdings, Ltd. | $5M | 3.0% | +106.1% | 0.3 yr |
| MRTNMarten Transport, Ltd. | $5M | 2.9% | -2.4% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors18.7%+17.3pp$29M
Trucking12.6%$20M
Waste Management9.1%-8.4pp$14M
Integrated Freight & Logistics7.8%$12M
Engineering & Construction6.2%-3.7pp$10M
Industrial - Pollution & Treatment Controls5.9%+3.2pp$9M
Education & Training Services5.4%-2.1pp$9M
Electrical Equipment & Parts5.3%$8M
Oil & Gas Exploration & Production4.2%+1.8pp$7M
Tobacco3.6%-1.0pp$6M
Country
US95.3%-3.2pp
SG2.5%
Unknown2.2%+0.7pp
Top 5: 25.6% · Top 10: 43.6% · Top 25: 83.8%
Top buys this quarter · 15
| JBHT J.B. Hunt Transport Services, new | +$8M |
| ODFL Old Dominion Freight Line, Incnew | +$8M |
| PR Permian Resources Corporationnew | +$6M |
| ICHR Ichor Holdings, Ltd.new | +$5M |
| MRTN Marten Transport, Ltd.new | +$5M |
| MYRG MYR Group Inc.new | +$4M |
| KLIC Kulicke and Soffa Industries, new | +$4M |
| XPO XPO Logistics, Inc.new | +$4M |
| CECO CECO Environmental Corp.new | +$4M |
| CVLG Covenant Logistics Group, Inc.new | +$4M |
Top sells this quarter · 15
| LINC Lincoln Educational Services Cexit | −$8M |
| NE Noble Corporation Plcexit | −$7M |
| UTI Universal Technical Institute,exit | −$6M |
| CALX Calix, Inc.exit | −$6M |
| SGHC Super Group (SGHC) Limitedexit | −$5M |
| WM Waste Management, Inc. | −$5M |
| PWR Quanta Services, Inc.exit | −$5M |
| ON ON Semiconductor Corporationexit | −$5M |
| TRNS Transcat, Inc.exit | −$4M |
| KAI Kadant Inc.exit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $158M | 34 | +39.90% | +17.59% | +22.31% | -0.04B |
| 2025-12-31 | $182M | 37 | +21.03% | +17.72% | +3.31% | -0.00B |
| 2025-09-30 | $188M | 33 | +14.91% | +8.12% | +6.79% | -0.03B |
| 2025-06-30 | $186M | 34 | +13.96% | +10.78% | +3.18% | +0.04B |
| 2025-03-31 | $124M | 31 | -7.31% | -4.27% | -3.05% | -0.01B |
| 2024-12-31 | $140M | 33 | — | — | — | — |