Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+13.17%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.82%
baseline attrition
Rally response
+1.26%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WWayfair Inc. | $78M | 6.9% | +134.8% | 2.5 yr |
| FIVEFive Below, Inc. | $68M | 6.0% | +204.9% | 2.0 yr |
| FNDFloor & Decor Holdings, | $61M | 5.4% | -36.9% | 1.8 yr |
| BURLBurlington Stores, Inc. | $59M | 5.2% | +36.5% | 3.0 yr |
| PFGCPerformance Food Group C | $56M | 5.0% | +8.9% | 3.3 yr |
| CCLCarnival Corporation & p | $53M | 4.6% | +33.1% | 2.0 yr |
| — | $51M | 4.5% | — | 1.5 yr |
| PGThe Procter & Gamble Com | $50M | 4.4% | -12.9% | 2.3 yr |
| STZConstellation Brands, In | $45M | 4.0% | -16.1% | 1.0 yr |
| MDLZMondelez International, | $41M | 3.6% | -13.0% | 3.5 yr |
| NXSTNexstar Media Group, Inc | $39M | 3.4% | +4.7% | 0.3 yr |
| — | $37M | 3.3% | — | 2.0 yr |
| CHWYChewy, Inc. | $36M | 3.1% | -16.9% | 0.8 yr |
| AMZNAmazon.com, Inc. | $33M | 2.9% | +9.5% | 1.8 yr |
| ROSTRoss Stores, Inc. | $32M | 2.9% | +71.2% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail20.3%+11.2pp$230M
Apparel - Retail13.4%-1.0pp$152M
Unknown12.6%+6.3pp$143M
Home Improvement6.7%-1.9pp$76M
Discount Stores6.0%+3.6pp$68M
Entertainment5.5%+1.4pp$62M
Furnishings, Fixtures & Appliances5.1%-2.3pp$58M
Food Distribution5.0%+0.7pp$57M
Leisure4.6%-2.2pp$53M
Household & Personal Products4.4%+1.8pp$50M
Country
US87.4%-6.3pp
Unknown12.6%+6.3pp
Top 5: 28.5% · Top 10: 49.6% · Top 25: 88.9%
Top buys this quarter · 15
| NXST Nexstar Media Group, Inc.new | +$39M |
| RCL Royal Caribbean Cruises Ltd. | +$28M |
| FOXA Fox Corporationnew | +$23M |
| CHWY Chewy, Inc. | +$22M |
| CART Instacart (Maplebear Inc.) | +$16M |
| W Wayfair Inc. | +$78M |
| BOBS Bob's Discount Furniture, Inc.new | +$12M |
| PG The Procter & Gamble Company | +$12M |
| RL Ralph Lauren Corporation | +$12M |
| ROST Ross Stores, Inc. | +$11M |
Top sells this quarter · 15
| MCD McDonald's Corporation | −$45M |
| FIVE Five Below, Inc. | −$30M |
| LAD Lithia Motors, Inc.exit | −$28M |
| SGI Somnigroup International Incexit | −$19M |
| WMT Walmart Inc.exit | −$19M |
| USFD US Foods Holding Corp. | −$18M |
| QSR Restaurant Brands Internationaexit | −$16M |
| YUM Yum! Brands, Inc. | −$16M |
| PM Philip Morris International Inexit | −$16M |
| TPR Tapestry, Inc.exit | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.13B | 39 | +20.75% | +17.59% | +3.16% | +0.12B |
| 2025-12-31 | $1.06B | 39 | +17.13% | +17.72% | -0.59% | -0.05B |
| 2025-09-30 | $1.09B | 38 | +19.50% | +17.52% | +1.99% | -0.01B |
| 2025-06-30 | $1.02B | 38 | +23.55% | +14.94% | +8.61% | +0.12B |
| 2025-03-31 | $778M | 36 | +4.40% | +8.30% | -3.90% | -0.13B |
| 2024-12-31 | $982M | 42 | +28.47% | +24.89% | +3.58% | +0.16B |
| 2024-09-30 | $797M | 41 | +48.70% | +36.04% | +12.66% | +0.05B |
| 2024-06-30 | $669M | 40 | +25.16% | +24.49% | +0.67% | +0.22B |
| 2024-03-31 | $460M | 34 | +41.82% | +29.62% | +12.19% | +0.03B |
| 2023-12-31 | $379M | 34 | +41.72% | +26.18% | +15.54% | +0.06B |
| 2023-09-30 | $268M | 42 | -5.67% | -3.22% | -2.44% | +0.10B |
| 2023-06-30 | $178M | 41 | +10.12% | +8.68% | +1.44% | +0.03B |
| 2023-03-31 | $134M | 28 | +13.81% | +7.46% | +6.35% | -0.00B |
| 2022-12-31 | $118M | 30 | — | — | — | — |