Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.83%
trims when stocks drop
when a holding falls −10%+
Middle response
+26.83%
steady accumulation
Rally response
-22.18%
trims into rallies
when a holding rises +10%+
Top positions · 13
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XIFRXPLR Infrastructure, LP | $27M | 18.8% | +11.8% | 1.0 yr |
| KGSKodiak Gas Services, Inc | $27M | 18.6% | +64.4% | 1.0 yr |
| VSTVistra Corp. | $15M | 10.5% | +28.7% | 1.3 yr |
| IEIvanhoe Electric Inc. | $15M | 10.2% | +103.4% | 0.8 yr |
| WMBThe Williams Companies, | $12M | 8.2% | +25.8% | 1.0 yr |
| ARAntero Resources Corpora | $11M | 7.6% | +4.9% | 0.3 yr |
| NEXTNextDecade Corporation | $10M | 7.1% | -1.5% | 0.5 yr |
| CCJCameco Corporation | $8M | 5.9% | +164.4% | 1.0 yr |
| TLNTalen Energy Corporation | $7M | 5.0% | +59.9% | 1.5 yr |
| CFCF Industries Holdings, | $5M | 3.5% | +70.0% | 0.3 yr |
| WULFTeraWulf Inc. | $3M | 2.1% | +428.6% | 0.3 yr |
| HUT.TOHut 8 Mining Corp. | $3M | 2.1% | +290.2% | 0.8 yr |
| BKVBKV Corporation | $1M | 0.4% | +35.8% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Independent Power Producers34.2%+0.4pp$49M
Oil & Gas Equipment & Services18.6%$27M
Oil & Gas Exploration & Production15.1%+1.7pp$22M
Copper10.2%$15M
Oil & Gas Midstream8.2%-11.2pp$12M
Uranium5.9%$8M
Financial - Capital Markets4.2%$6M
Agricultural Inputs3.5%$5M
Country
US81.8%-4.9pp
CA18.2%+4.9pp
Top 5: 66.3% · Top 10: 95.4% · Top 25: 100.0%
Top buys this quarter · 9
| AR Antero Resources Corporationnew | +$11M |
| NEXT NextDecade Corporation | +$6M |
| CF CF Industries Holdings, Inc.new | +$5M |
| XIFR XPLR Infrastructure, LP | +$5M |
| TLN Talen Energy Corporation | +$4M |
| IE Ivanhoe Electric Inc. | +$15M |
| WULF TeraWulf Inc.new | +$3M |
| HUT.TO Hut 8 Mining Corp. | +$3M |
| BKV BKV Corporationnew | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $144M | 13 | +60.44% | +17.59% | +42.85% | -0.00B |
| 2025-12-31 | $125M | 11 | +41.94% | +17.72% | +24.22% | -0.05B |
| 2025-09-30 | $174M | 15 | +8.61% | +8.12% | +0.49% | -0.02B |
| 2025-06-30 | $175M | 17 | +26.65% | +10.78% | +15.88% | +0.07B |
| 2025-03-31 | $83M | 7 | +2.09% | -4.27% | +6.36% | +0.01B |
| 2024-12-31 | $74M | 11 | — | — | — | — |