Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+23.64%
adds when stocks drop
when a holding falls −10%+
Middle response
+7.52%
steady accumulation
Rally response
-16.88%
trims into rallies
when a holding rises +10%+
Top positions · 22
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ECPGEncore Capital Group, In | $16M | 10.8% | — | 0.5 yr |
| FLYWFlywire Corporation | $12M | 8.1% | — | 0.5 yr |
| SKWDSkyward Specialty Insura | $11M | 7.6% | — | 0.5 yr |
| COFCapital One Financial Co | $10M | 7.0% | — | 0.5 yr |
| SPGIS&P Global Inc. | $8M | 5.3% | — | 0.5 yr |
| UWMCUWM Holdings Corporation | $7M | 5.0% | — | 0.5 yr |
| UMBFUMB Financial Corporatio | $7M | 4.9% | — | 0.5 yr |
| FUTUFutu Holdings Limited | $7M | 4.5% | — | 0.3 yr |
| AFRMAffirm Holdings, Inc. | $6M | 4.5% | — | 0.3 yr |
| SEICSEI Investments Company | $6M | 3.9% | — | 0.5 yr |
| LPLALPL Financial Holdings I | $5M | 3.7% | — | 0.3 yr |
| VVisa Inc. | $5M | 3.6% | — | 0.5 yr |
| ICEIntercontinental Exchang | $5M | 3.4% | — | 0.3 yr |
| VLYPNValley National Bancorp | $5M | 3.4% | — | 0.3 yr |
| RKTRocket Companies, Inc. | $5M | 3.4% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Financial - Mortgages19.3%$28M
Financial - Credit Services13.9%$20M
Insurance - Property & Casualty11.0%$16M
Financial - Capital Markets10.9%$16M
Asset Management10.6%$15M
Financial - Data & Stock Exchanges8.7%$13M
Banks - Regional8.3%$12M
Information Technology Services8.1%$12M
Software - Infrastructure4.5%$6M
Banks - Diversified2.4%$3M
Country
US93.1%
HK4.5%
CH2.4%
Top 5: 38.9% · Top 10: 61.7% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| FUTU Futu Holdings Limitednew | +$7M |
| AFRM Affirm Holdings, Inc.new | +$6M |
| UWMC UWM Holdings Corporation | +$6M |
| LPLA LPL Financial Holdings Inc.new | +$5M |
| COF Capital One Financial Corporat | +$5M |
| ICE Intercontinental Exchange, Incnew | +$5M |
| RKT Rocket Companies, Inc.new | +$5M |
| AAMI Acadian Asset Managementnew | +$5M |
| ENVA Enova International, Inc.new | +$5M |
| SPGI S&P Global Inc. | +$4M |
Top sells this quarter · 10
| WD Walker & Dunlop, Inc.exit | −$5M |
| INVH Invitation Homes Inc.exit | −$5M |
| AMG Affiliated Managers Group, Incexit | −$4M |
| WLTH Wealthfront Corporationexit | −$4M |
| ECPG Encore Capital Group, Inc. | −$15M |
| EFX Equifax Inc.exit | −$3M |
| SF Stifel Financial Corp.exit | −$2M |
| PGR The Progressive Corporation | −$1M |
| PX P10, Inc. | −$0M |
| 2H2.F Two Harbors Investment Corp.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $144M | 22 | -8.99% | -4.37% | -4.62% | +0.04B |
| 2025-12-31 | $113M | 18 | — | — | — | — |