Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.55%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.75%
baseline attrition
Rally response
-7.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CTRNCiti Trends, Inc. | $111M | 14.5% | +95.7% | 3.3 yr |
| JMIAJumia Technologies AG | $85M | 11.1% | +220.9% | 1.0 yr |
| CELHCelsius Holdings, Inc. | $56M | 7.3% | -0.4% | 1.0 yr |
| VFCV.F. Corporation | $48M | 6.3% | +12.0% | 1.8 yr |
| RDDTReddit, Inc. | $44M | 5.7% | +28.4% | 1.0 yr |
| TLYSTilly's, Inc. | $33M | 4.3% | +84.1% | 3.5 yr |
| CPNGCoupang, Inc. | $32M | 4.1% | -13.9% | 0.5 yr |
| AMZNAmazon.com, Inc. | $31M | 4.0% | +9.5% | 3.0 yr |
| NVRIEnviri Corporation | $30M | 3.8% | +195.0% | 1.3 yr |
| BBWIBath & Body Works, Inc. | $24M | 3.1% | -36.2% | 2.0 yr |
| APPAppLovin Corporation | $20M | 2.6% | +50.2% | 0.3 yr |
| CURVTorrid Holdings Inc. | $17M | 2.3% | -67.5% | 3.3 yr |
| FNKOFunko, Inc. | $17M | 2.2% | -54.1% | 2.8 yr |
| FLWS1-800-FLOWERS.COM, Inc. | $16M | 2.1% | -48.5% | 3.3 yr |
| SHOOSteven Madden, Ltd. | $16M | 2.0% | +30.7% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail26.3%+9.1pp$202M
Apparel - Retail25.7%-12.5pp$197M
Beverages - Non-Alcoholic7.3%$56M
Apparel - Manufacturers6.3%$48M
Internet Content & Information5.9%$45M
Waste Management3.8%-0.3pp$30M
Apparel - Footwear & Accessories3.2%+2.1pp$24M
Software - Application3.0%+0.8pp$23M
Restaurants2.3%-12.1pp$18M
Leisure2.2%-3.3pp$17M
Country
US78.2%-21.1pp
DE11.1%
KR4.1%
Unknown2.2%+1.5pp
SG1.9%
BM1.7%
IE0.3%
GB0.3%
Top 5: 44.9% · Top 10: 64.2% · Top 25: 89.3%
Top buys this quarter · 15
| VFC V.F. Corporation | +$39M |
| CPNG Coupang, Inc. | +$30M |
| RDDT Reddit, Inc. | +$26M |
| JMIA Jumia Technologies AG | +$85M |
| APP AppLovin Corporationnew | +$20M |
| BBWI Bath & Body Works, Inc. | +$17M |
| SHOO Steven Madden, Ltd. | +$15M |
| CELH Celsius Holdings, Inc. | +$14M |
| GLNG Golar LNG Limitednew | +$13M |
| AMZN Amazon.com, Inc. | +$12M |
Top sells this quarter · 15
| NVRI Enviri Corporation | −$55M |
| DOCN DigitalOcean Holdings, Inc.exit | −$32M |
| U Unity Software Inc. | −$25M |
| GCO Genesco Inc. | −$16M |
| TPR Tapestry, Inc.exit | −$15M |
| MU Micron Technology, Inc. | −$13M |
| AMD Advanced Micro Devices, Inc. | −$11M |
| CROX Crocs, Inc. | −$10M |
| TXRH Texas Roadhouse, Inc.exit | −$6M |
| VRA Vera Bradley, Inc. | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $767M | 61 | +19.12% | +17.59% | +1.53% | +0.12B |
| 2025-12-31 | $691M | 49 | +6.36% | +17.72% | -11.36% | -0.19B |
| 2025-09-30 | $815M | 53 | +5.48% | +17.52% | -12.04% | +0.05B |
| 2025-06-30 | $705M | 48 | -5.95% | +14.94% | -20.90% | +0.06B |
| 2025-03-31 | $591M | 43 | -16.20% | +8.30% | -24.50% | -0.01B |
| 2024-12-31 | $729M | 57 | +0.72% | +24.89% | -24.17% | +0.04B |
| 2024-09-30 | $641M | 58 | +2.38% | +36.04% | -33.66% | -0.06B |
| 2024-06-30 | $724M | 55 | +12.64% | +24.49% | -11.85% | +0.12B |
| 2024-03-31 | $615M | 39 | +4.79% | +29.62% | -24.83% | +0.16B |
| 2023-12-31 | $460M | 43 | +7.07% | +26.18% | -19.11% | +0.18B |
| 2023-09-30 | $261M | 54 | +6.42% | -3.22% | +9.65% | +0.01B |
| 2023-06-30 | $232M | 65 | -9.20% | +8.68% | -17.88% | -0.03B |
| 2023-03-31 | $288M | 57 | +2.02% | +7.46% | -5.44% | +0.06B |
| 2022-12-31 | $220M | 48 | — | — | — | — |