Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.56%
adds when stocks drop
when a holding falls −10%+
Middle response
-16.14%
baseline attrition
Rally response
-15.76%
trims into rallies
when a holding rises +10%+
Top positions · 11
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CORZCore Scientific, Inc. | $66M | 42.1% | +106.6% | 1.5 yr |
| GNLGlobal Net Lease, Inc. | $28M | 18.0% | +28.4% | 1.5 yr |
| SATSEchoStar Corporation | $21M | 13.5% | +357.7% | 1.5 yr |
| COFCapital One Financial Co | $14M | 9.0% | +3.1% | 0.5 yr |
| PFSIPennyMac Financial Servi | $7M | 4.4% | -11.7% | 0.3 yr |
| RCLRoyal Caribbean Cruises | $6M | 3.7% | +35.9% | 0.3 yr |
| SYFSynchrony Financial | $5M | 3.3% | +30.8% | 0.5 yr |
| CIFRCipher Mining Inc. | $4M | 2.3% | +459.6% | 1.0 yr |
| PDMPiedmont Office Realty T | $3M | 1.8% | -10.9% | 1.5 yr |
| ATUSAltice USA, Inc. | $2M | 1.4% | — | 0.5 yr |
| CYHCommunity Health Systems | $1M | 0.4% | +8.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure42.1%+3.7pp$66M
REIT - Diversified18.0%-5.6pp$28M
Communication Equipment13.5%+3.9pp$21M
Financial - Credit Services12.3%+4.5pp$19M
Financial - Mortgages4.4%$7M
Travel Services3.7%$6M
Financial - Capital Markets2.3%-6.7pp$4M
REIT - Office1.8%-3.4pp$3M
Telecommunications Services1.4%$2M
Medical - Care Facilities0.4%-3.6pp$1M
Country
US100.0%+0.9pp
Top 5: 87.1% · Top 10: 99.6% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CIFR | $10M | +0.05B | 459.6% |
| CORZ | $43M | +0.05B | 106.6% |
| SATS | $11M | +0.04B | 357.7% |
| GNL | $27M | +0.01B | 28.4% |
| CYH | $4M | +0.00B | 8.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| PDM | $6M | -0.00B | -10.9% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $157M | 11 | +144.36% | +17.59% | +126.77% | -0.04B |
| 2025-12-31 | $162M | 10 | +51.16% | +17.72% | +33.45% | -0.00B |
| 2025-09-30 | $168M | 7 | +24.85% | +8.12% | +16.73% | -0.07B |
| 2025-06-30 | $187M | 11 | +65.96% | +10.78% | +55.19% | -0.00B |
| 2025-03-31 | $113M | 9 | -24.95% | -4.27% | -20.68% | -0.02B |
| 2024-12-31 | $181M | 14 | — | — | — | — |