Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.79%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.81%
baseline attrition
Rally response
-0.36%
trims into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| STXSeagate Technology Holdi | $48M | 10.1% | +366.3% | 0.8 yr |
| SXTSensient Technologies Co | $48M | 10.1% | +18.1% | 1.3 yr |
| WDCWestern Digital Corporat | $31M | 6.6% | +571.9% | 1.5 yr |
| SPOTSpotify Technology S.A. | $31M | 6.5% | -11.8% | 1.5 yr |
| WMBThe Williams Companies, | $27M | 5.7% | +25.8% | 0.3 yr |
| ROSTRoss Stores, Inc. | $27M | 5.6% | +71.2% | 0.5 yr |
| LITELumentum Holdings Inc. | $25M | 5.3% | +1027.3% | 0.3 yr |
| RTORentokil Initial plc | $25M | 5.3% | +39.3% | 0.3 yr |
| FERGFerguson plc | $24M | 5.1% | +47.8% | 1.8 yr |
| FNDFloor & Decor Holdings, | $23M | 4.8% | -36.9% | 0.5 yr |
| TTMITTM Technologies, Inc. | $22M | 4.6% | +375.0% | 0.8 yr |
| LINLinde plc | $21M | 4.5% | +7.9% | 0.3 yr |
| CLSCelestica Inc. | $21M | 4.4% | +257.4% | 1.3 yr |
| MKSIMKS Inc. | $20M | 4.2% | +188.8% | 0.3 yr |
| SITESiteOne Landscape Supply | $19M | 3.9% | +9.6% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Computer Hardware16.7%+13.1pp$79M
Chemicals - Specialty14.5%+10.3pp$69M
Hardware, Equipment & Parts13.3%+13.2pp$63M
Industrial - Distribution9.0%+2.3pp$43M
Apparel - Retail7.5%$35M
Internet Content & Information6.5%-2.4pp$31M
Oil & Gas Midstream5.7%$27M
Communication Equipment5.3%$25M
Specialty Business Services5.3%$25M
Home Improvement4.8%$23M
Country
US60.3%-11.2pp
GB14.8%-4.7pp
SG10.1%
LU6.5%-2.4pp
CA4.4%+4.3pp
Unknown2.1%
CH1.8%
Top 5: 39.0% · Top 10: 65.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| WDC | $8M | +0.05B | 571.9% |
| FERG | $16M | +0.01B | 47.8% |
| SXT | $10M | +0.00B | 18.1% |
| CLS | $0M | +0.00B | 257.4% |
| SPOT | $21M | -0.00B | -11.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SPOT | $21M | -0.00B | -11.8% |
Top buys this quarter · 15
| WMB The Williams Companies, Inc.new | +$27M |
| LITE Lumentum Holdings Inc.new | +$25M |
| RTO Rentokil Initial plcnew | +$25M |
| LIN Linde plcnew | +$21M |
| MKSI MKS Inc.new | +$20M |
| SITE SiteOne Landscape Supply, Inc.new | +$19M |
| SXT Sensient Technologies Corporat | +$18M |
| FND Floor & Decor Holdings, Inc. | +$12M |
| ONON On Holding AGnew | +$9M |
| SPOT Spotify Technology S.A. | +$6M |
Top sells this quarter · 15
| — | −$0M |
| — exit | −$0M |
| NWSA News Corporationexit | −$19M |
| WTW Willis Towers Watson Public Liexit | −$19M |
| TTMI TTM Technologies, Inc. | −$15M |
| CEG Constellation Energy Corporatiexit | −$14M |
| WWD Woodward, Inc. | −$14M |
| TPR Tapestry, Inc.exit | −$13M |
| VFC V.F. Corporationexit | −$13M |
| CLH Clean Harbors, Inc.exit | −$13M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $475M | 20 | +70.01% | +17.59% | +52.42% | +0.02B |
| 2025-12-31 | $421M | 22 | +47.49% | +17.72% | +29.78% | +0.02B |
| 2025-09-30 | $379M | 19 | +46.10% | +17.52% | +28.58% | +0.00B |
| 2025-06-30 | $314M | 17 | +36.10% | +14.94% | +21.16% | +0.02B |
| 2025-03-31 | $237M | 18 | +5.20% | +8.30% | -3.10% | -0.01B |
| 2024-12-31 | $266M | 19 | +29.85% | +24.89% | +4.97% | +0.04B |
| 2024-09-30 | $212M | 17 | +43.11% | +36.04% | +7.07% | -0.05B |
| 2024-06-30 | $234M | 19 | +22.99% | +24.49% | -1.50% | -0.03B |
| 2024-03-31 | $273M | 19 | +42.29% | +29.62% | +12.66% | -0.01B |
| 2023-12-31 | $245M | 22 | +33.13% | +26.18% | +6.95% | -0.01B |
| 2023-09-30 | $224M | 19 | -4.35% | -3.22% | -1.12% | +0.02B |
| 2023-06-30 | $217M | 20 | +10.76% | +8.68% | +2.08% | +0.02B |
| 2023-03-31 | $182M | 20 | +9.16% | +7.46% | +1.70% | +0.01B |
| 2022-12-31 | $158M | 18 | — | — | — | — |