Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.84%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.91%
baseline attrition
Rally response
+44.96%
adds into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GTLSChart Industries, Inc. | $46M | 13.6% | +43.2% | 0.5 yr |
| MASIMasimo Corporation | $43M | 12.7% | +6.8% | 0.3 yr |
| PENPenumbra, Inc. | $33M | 9.9% | +22.8% | 0.3 yr |
| TERNTerns Pharmaceuticals, I | $22M | 6.6% | — | 0.3 yr |
| LBRDALiberty Broadband Corpor | $21M | 6.3% | — | 0.5 yr |
| WBSWebster Financial Corpor | $19M | 5.6% | +38.5% | 0.3 yr |
| WBDWarner Bros. Discovery, | $16M | 4.8% | +155.9% | 0.8 yr |
| KVUEKenvue Inc. | $15M | 4.4% | -25.0% | 0.5 yr |
| SLABSilicon Laboratories Inc | $14M | 4.1% | +84.9% | 0.3 yr |
| ACLXArcellx, Inc. | $14M | 4.0% | — | 0.3 yr |
| ARISAris Mining Corporation | $13M | 3.9% | +300.2% | 0.3 yr |
| LBRDKLiberty Broadband Corpor | $13M | 3.9% | — | 1.5 yr |
| TPHTri Pointe Homes, Inc. | $12M | 3.7% | +46.4% | 0.3 yr |
| WESWestern Midstream Partne | $11M | 3.2% | +10.3% | 0.5 yr |
| AVOMission Produce, Inc. | $11M | 3.1% | +31.3% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Devices22.6%$76M
Biotechnology14.0%+9.0pp$47M
Industrial - Machinery13.6%$46M
Telecommunications Services10.1%-15.8pp$34M
Banks - Regional5.6%+4.8pp$19M
Entertainment4.8%$16M
Household & Personal Products4.4%$15M
Semiconductors4.1%$14M
Other Precious Metals3.9%$13M
Residential Construction3.7%$12M
Country
US95.4%+8.2pp
CA3.9%
BM0.7%
Top 5: 49.0% · Top 10: 71.9% · Top 25: 100.0%
Top buys this quarter · 15
| MASI Masimo Corporationnew | +$43M |
| PEN Penumbra, Inc.new | +$33M |
| GTLS Chart Industries, Inc. | +$24M |
| WBS Webster Financial Corporationnew | +$19M |
| SLAB Silicon Laboratories Inc.new | +$14M |
| ARIS Aris Mining Corporationnew | +$13M |
| TPH Tri Pointe Homes, Inc.new | +$12M |
| KVUE Kenvue Inc. | +$12M |
| AVO Mission Produce, Inc.new | +$11M |
| UNF UniFirst Corporationnew | +$9M |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$33M |
| CFLT Confluent, Inc.exit | −$18M |
| EA Electronic Arts Inc.exit | −$14M |
| SEE Sealed Air Corporationexit | −$14M |
| NSC Norfolk Southern Corporation | −$10M |
| WBD Warner Bros. Discovery, Inc. | −$8M |
| CWAN Clearwater Analytics Holdings,exit | −$8M |
| CSGS CSG Systems International, Incexit | −$6M |
| SEMR Semrush Holdings, Inc.exit | −$2M |
| AXTA Axalta Coating Systems Ltd.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $337M | 24 | +38.28% | +17.59% | +20.69% | -0.05B |
| 2025-12-31 | $365M | 28 | +22.96% | +17.72% | +5.24% | +0.08B |
| 2025-09-30 | $260M | 22 | -9.20% | +17.52% | -26.72% | -0.03B |
| 2025-06-30 | $248M | 20 | -27.35% | +14.94% | -42.29% | +0.04B |
| 2025-03-31 | $202M | 20 | -44.25% | +8.30% | -52.55% | -0.01B |
| 2024-12-31 | $219M | 16 | -44.77% | +24.89% | -69.65% | -0.01B |
| 2024-09-30 | $284M | 18 | -6.16% | +5.75% | -11.91% | +0.10B |
| 2024-06-30 | $195M | 17 | -22.68% | +4.38% | -27.06% | +0.08B |
| 2024-03-31 | $155M | 15 | -5.81% | +10.39% | -16.20% | +0.02B |
| 2023-12-31 | $144M | 13 | — | — | — | — |