Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.45%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.80%
baseline attrition
Rally response
-1.74%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| UTHRUnited Therapeutics Corp | $5M | 3.5% | +92.4% | 1.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $4M | 3.3% | — | 1.5 yr |
| COSTCostco Wholesale Corpora | $4M | 3.3% | +5.9% | 1.5 yr |
| IGIBiShares 5-10 Year Invest | $4M | 3.1% | — | 0.8 yr |
| SEIXVirtus Seix Senior Loan | $4M | 2.9% | — | 1.5 yr |
| AMDAdvanced Micro Devices, | $4M | 2.8% | +98.0% | 1.5 yr |
| IBKRInteractive Brokers Grou | $4M | 2.8% | +62.8% | 1.5 yr |
| ISRGIntuitive Surgical, Inc. | $3M | 2.6% | -6.9% | 1.5 yr |
| WRBW. R. Berkley Corporatio | $3M | 2.6% | -4.4% | 1.5 yr |
| ANETArista Networks, Inc. | $3M | 2.5% | +58.5% | 1.5 yr |
| KMLMKraneShares Mount Lucas | $3M | 2.4% | — | 1.5 yr |
| TMUST-Mobile US, Inc. | $3M | 2.1% | -19.9% | 1.5 yr |
| VRTXVertex Pharmaceuticals I | $3M | 2.0% | -7.9% | 1.5 yr |
| DASHDoorDash, Inc. | $3M | 2.0% | -17.8% | 1.5 yr |
| DRSLeonardo DRS, Inc. | $3M | 1.9% | +36.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management18.3%+1.2pp$24M
Biotechnology7.6%-0.6pp$10M
Semiconductors6.9%+2.2pp$9M
Insurance - Property & Casualty4.9%-0.7pp$6M
Asset Management - Income4.4%+0.3pp$6M
Software - Infrastructure3.9%+1.0pp$5M
Hardware, Equipment & Parts3.7%+0.7pp$5M
Aerospace & Defense3.4%+1.9pp$4M
Discount Stores3.3%-0.0pp$4M
Electrical Equipment & Parts3.2%+0.3pp$4M
Country
US92.0%-5.7pp
GB1.9%
KY1.8%+0.7pp
TW1.2%+0.5pp
LU0.8%
CA0.7%
IL0.6%
JE0.6%
Top 5: 16.2% · Top 10: 29.4% · Top 25: 55.8%
Top buys this quarter · 15
| PKE Park Aerospace Corp.new | +$1M |
| NGS Natural Gas Services Group, Innew | +$1M |
| TS Tenaris S.A.new | +$1M |
| JOUT Johnson Outdoors Inc.new | +$1M |
| NTR Nutrien Ltd.new | +$1M |
| FHN First Horizon Corporationnew | +$1M |
| TATT TAT Technologies Ltd.new | +$1M |
| MSFT Microsoft Corporation | +$1M |
| CMCL Caledonia Mining Corporation Pnew | +$1M |
| FLXS Flexsteel Industries, Inc.new | +$1M |
Top sells this quarter · 15
| INTU Intuit Inc.exit | −$2M |
| PGR The Progressive Corporationexit | −$2M |
| VEEV Veeva Systems Inc.exit | −$1M |
| PLTR Palantir Technologies Inc.exit | −$1M |
| AMD Advanced Micro Devices, Inc. | −$1M |
| IBKR Interactive Brokers Group, Inc | −$1M |
| FIX Comfort Systems USA, Inc. | −$1M |
| POWL Powell Industries, Inc. | −$1M |
| LMND Lemonade, Inc. | −$1M |
| ETD Ethan Allen Interiors Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $130M | 92 | +15.89% | +17.59% | -1.70% | -0.00B |
| 2025-12-31 | $137M | 91 | +16.02% | +17.72% | -1.70% | -0.00B |
| 2025-09-30 | $140M | 91 | +9.41% | +8.12% | +1.28% | +0.00B |
| 2025-06-30 | $126M | 87 | +9.35% | +10.78% | -1.43% | -0.01B |
| 2025-03-31 | $122M | 90 | -2.80% | -4.27% | +1.47% | +0.00B |
| 2024-12-31 | $122M | 91 | — | — | — | — |