Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.01%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
+71.79%
adds into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SATSEchoStar Corporation | $404M | 63.7% | — | 0.3 yr |
| CZRCaesars Entertainment, I | $102M | 16.1% | — | 0.5 yr |
| SABRSabre Corporation | $53M | 8.4% | — | 0.3 yr |
| AMBPArdagh Metal Packaging S | $46M | 7.2% | — | 0.5 yr |
| CTEVClaritev Corporation | $25M | 4.0% | — | 0.5 yr |
| KDKyndryl Holdings, Inc. | $4M | 0.6% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Communication Equipment63.7%$404M
Gambling, Resorts & Casinos16.1%$102M
Travel Services8.4%$53M
Packaging & Containers7.2%$46M
Medical - Healthcare Information Services4.0%$25M
Information Technology Services0.6%$4M
Country
US92.8%
LU7.2%
Top 5: 99.4% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 5
| SATS EchoStar Corporationnew | +$404M |
| CZR Caesars Entertainment, Inc. | +$73M |
| SABR Sabre Corporationnew | +$53M |
| KD Kyndryl Holdings, Inc.new | +$4M |
| CTEV Claritev Corporation | +$25M |
Top sells this quarter · 2
| — exit | −$0M |
| DHC Diversified Healthcare Trustexit | −$20M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $634M | 6 | -5.25% | -4.37% | -0.88% | +0.49B |
| 2025-12-31 | $150M | 5 | — | — | — | — |