Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.12%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.86%
steady accumulation
Rally response
-5.78%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ELAEnvela Corporation | $21M | 11.9% | +167.4% | 1.5 yr |
| BSVNBank7 Corp. | $19M | 10.5% | +5.5% | 1.5 yr |
| ACUAcme United Corporation | $17M | 9.5% | +14.7% | 1.5 yr |
| AIIAmerican Integrity Insur | $16M | 9.1% | — | 1.0 yr |
| DLHCDLH Holdings Corp. | $16M | 8.7% | +43.7% | 1.5 yr |
| SYNLSynalloy Corporation | $12M | 6.6% | — | 1.5 yr |
| CXI.TOCurrency Exchange Intern | $11M | 6.1% | +21.2% | 1.5 yr |
| RMNIRimini Street, Inc. | $6M | 3.5% | -5.7% | 1.0 yr |
| BUKSButler National Corporat | $5M | 2.9% | — | 0.8 yr |
| ALOTAstroNova, Inc. | $4M | 2.0% | +0.0% | 1.5 yr |
| STRRStar Equity Holdings, In | $3M | 1.8% | -3.7% | 1.5 yr |
| LGCYLegacy Education Inc. | $3M | 1.8% | +74.6% | 0.5 yr |
| HGBLHeritage Global Inc. | $3M | 1.7% | -37.6% | 1.5 yr |
| FRDFriedman Industries, Inc | $3M | 1.6% | +20.0% | 1.5 yr |
| — | $3M | 1.5% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Luxury Goods11.9%+3.4pp$21M
Banks - Regional11.3%-10.4pp$20M
Household & Personal Products9.5%-3.8pp$17M
Insurance - Property & Casualty9.1%$16M
Specialty Business Services8.7%+2.6pp$16M
Steel8.2%-8.1pp$15M
Financial - Capital Markets7.8%-5.1pp$14M
Unknown5.9%+5.0pp$11M
Software - Application4.5%$8M
Aerospace & Defense3.3%$6M
Country
US94.1%-5.0pp
Unknown5.9%+5.0pp
Top 5: 49.7% · Top 10: 70.7% · Top 25: 90.2%
Top buys this quarter · 15
| AII American Integrity Insurance G | +$4M |
| RMNI Rimini Street, Inc. | +$2M |
| CHCI Comstock Holding Companies, In | +$2M |
| MPAA Motorcar Parts of America, Incnew | +$2M |
| PBAM Private Bancorp of America, Innew | +$1M |
| HIT Health In Tech, Inc.new | +$1M |
| EKSO Ekso Bionics Holdings, Inc.new | +$1M |
| RGS Regis Corporation | +$1M |
| OPXS Optex Systems Holdings, Inc | +$1M |
| LGCY Legacy Education Inc. | +$1M |
Top sells this quarter · 10
| IRD Opus Genetics, Inc. | −$5M |
| TWIN Twin Disc, Incorporated | −$2M |
| DUOT Duos Technologies Group, Inc.exit | −$1M |
| FTLF FitLife Brands, Inc. | −$1M |
| RRGB Red Robin Gourmet Burgers, Inc | −$0M |
| ELA Envela Corporation | −$17M |
| DWSN Dawson Geophysical Companyexit | −$0M |
| BCHT Birchtech Corp. | −$0M |
| CRAWA Crawford United Corporationexit | −$0M |
| — exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $179M | 54 | +31.26% | +17.59% | +13.67% | +0.01B |
| 2025-12-31 | $158M | 44 | +5.13% | +17.72% | -12.59% | +0.00B |
| 2025-09-30 | $148M | 47 | +10.93% | +8.12% | +2.80% | +0.02B |
| 2025-06-30 | $115M | 39 | +7.29% | +10.78% | -3.48% | +0.01B |
| 2025-03-31 | $95M | 32 | -14.88% | -4.27% | -10.62% | +0.01B |
| 2024-12-31 | $104M | 28 | — | — | — | — |