Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.76%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.71%
baseline attrition
Rally response
-9.87%
trims into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GSMFerroglobe PLC | $15M | 13.2% | +12.0% | 2.5 yr |
| DRVNDriven Brands Holdings I | $15M | 13.1% | -26.4% | 2.5 yr |
| MGNIMagnite, Inc. | $15M | 13.0% | +4.1% | 2.5 yr |
| AMNAMN Healthcare Services, | $13M | 11.8% | -25.0% | 1.5 yr |
| EEFTEuronet Worldwide, Inc. | $11M | 9.8% | -37.9% | 0.8 yr |
| REAXThe Real Brokerage Inc. | $9M | 8.0% | -38.4% | 0.3 yr |
| AMTMAmentum Holdings, Inc. | $8M | 6.7% | +43.3% | 1.3 yr |
| XPOFXponential Fitness, Inc. | $6M | 5.3% | -27.7% | 0.5 yr |
| RYZRyerson Holding Corporat | $6M | 5.2% | +1.1% | 0.8 yr |
| JBIJanus International Grou | $3M | 2.9% | -28.5% | 0.5 yr |
| GLNGGolar LNG Limited | $3M | 2.8% | +45.8% | 0.5 yr |
| ACVAACV Auctions Inc. | $3M | 2.7% | -69.9% | 1.3 yr |
| LNDCLandec Corporation | $3M | 2.7% | — | 1.0 yr |
| GELGenesis Energy, L.P. | $1M | 1.1% | +18.6% | 1.3 yr |
| PWFLPowerFleet, Inc. | $1M | 1.1% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Auto - Dealerships15.8%+2.5pp$18M
Industrial Materials13.2%-1.4pp$15M
Advertising Agencies13.0%+3.7pp$15M
Medical - Care Facilities11.8%+9.5pp$13M
Software - Infrastructure9.8%$11M
Real Estate - Services8.0%$9M
Aerospace & Defense6.7%+4.0pp$8M
Leisure5.3%$6M
Beverages - Wineries & Distilleries5.2%$6M
Oil & Gas Midstream3.9%-5.1pp$4M
Country
US75.3%+10.8pp
GB13.2%-1.4pp
CA8.5%+8.3pp
BM2.8%
LU0.2%-6.9pp
Top 5: 60.8% · Top 10: 88.9% · Top 25: 100.0%
Top buys this quarter · 11
| LNDC Landec Corporation | +$3M |
| PWFL PowerFleet, Inc.new | +$0M |
| REAX The Real Brokerage Inc.new | +$9M |
| DRVN Driven Brands Holdings Inc. | +$8M |
| MGNI Magnite, Inc. | +$8M |
| AMN AMN Healthcare Services, Inc. | +$3M |
| EEFT Euronet Worldwide, Inc. | +$3M |
| JBI Janus International Group, Inc | +$2M |
| GLNG Golar LNG Limited | +$1M |
| XPOF Xponential Fitness, Inc. | +$6M |
Top sells this quarter · 12
| DAR Darling Ingredients Inc.exit | −$14M |
| GEL Genesis Energy, L.P. | −$10M |
| ROG Rogers Corporationexit | −$7M |
| MATW Matthews International Corporaexit | −$4M |
| TDW Tidewater Inc.exit | −$3M |
| PRGO Perrigo Company plcexit | −$3M |
| GSM Ferroglobe PLC | −$2M |
| NX Quanex Building Products Corpoexit | −$1M |
| OEC Orion Engineered Carbons S.A. | −$1M |
| ACVA ACV Auctions Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $113M | 17 | +4.02% | +17.59% | -13.57% | -0.01B |
| 2025-12-31 | $130M | 21 | +1.13% | +17.72% | -16.58% | +0.01B |
| 2025-09-30 | $121M | 22 | -0.11% | +17.52% | -17.63% | -0.01B |
| 2025-06-30 | $133M | 21 | +2.42% | +14.94% | -12.53% | +0.00B |
| 2025-03-31 | $110M | 21 | -16.83% | +8.30% | -25.14% | +0.02B |
| 2024-12-31 | $96M | 17 | -14.14% | +24.89% | -39.03% | -0.01B |
| 2024-09-30 | $116M | 18 | +1.02% | +5.75% | -4.73% | -0.01B |
| 2024-06-30 | $120M | 19 | -3.99% | +4.38% | -8.37% | +0.00B |
| 2024-03-31 | $122M | 20 | -6.18% | +10.39% | -16.58% | -0.00B |
| 2023-12-31 | $133M | 20 | — | — | — | — |