Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.60%
trims when stocks drop
when a holding falls −10%+
Middle response
-9.95%
baseline attrition
Rally response
-31.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $19M | 10.0% | — | 0.5 yr |
| WMTWalmart Inc. | $12M | 6.5% | — | 0.3 yr |
| TSCOTractor Supply Company | $10M | 5.3% | — | 0.3 yr |
| DOOOBRP Inc. | $8M | 4.5% | — | 0.3 yr |
| ONONOn Holding AG | $8M | 4.5% | — | 0.3 yr |
| BKNGBooking Holdings Inc. | $8M | 4.4% | — | 0.3 yr |
| CMGChipotle Mexican Grill, | $8M | 4.3% | — | 0.5 yr |
| PEPPepsiCo, Inc. | $8M | 4.2% | — | 0.3 yr |
| CHDChurch & Dwight Co., Inc | $7M | 4.0% | — | 0.5 yr |
| CCLCarnival Corporation & p | $7M | 3.9% | — | 0.5 yr |
| MNSTMonster Beverage Corpora | $6M | 3.3% | — | 0.5 yr |
| BURLBurlington Stores, Inc. | $6M | 3.1% | — | 0.3 yr |
| CHHChoice Hotels Internatio | $5M | 2.8% | — | 0.3 yr |
| ORLYO'Reilly Automotive, Inc | $5M | 2.7% | — | 0.5 yr |
| CHEFThe Chefs' Warehouse, In | $5M | 2.4% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail20.2%$38M
Restaurants10.1%$19M
Discount Stores8.6%$16M
Apparel - Retail7.5%$14M
Beverages - Non-Alcoholic7.5%$14M
Travel Services6.5%$12M
Auto - Recreational Vehicles5.1%$10M
Travel Lodging4.9%$9M
Food Distribution4.1%$8M
Gambling, Resorts & Casinos4.1%$8M
Country
US87.2%
CA4.5%
CH4.5%
Unknown2.0%
BM1.0%
GG0.8%
Top 5: 30.8% · Top 10: 51.7% · Top 25: 87.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| WMT Walmart Inc.new | +$12M |
| TSCO Tractor Supply Companynew | +$10M |
| ONON On Holding AGnew | +$8M |
| PEP PepsiCo, Inc.new | +$8M |
| BURL Burlington Stores, Inc.new | +$6M |
| CHH Choice Hotels International, Inew | +$5M |
| CCL Carnival Corporation & plc | +$5M |
| MDLZ Mondelez International, Inc.new | +$5M |
| KRUS Kura Sushi USA, Inc.new | +$4M |
| ASO Academy Sports and Outdoors, Inew | +$4M |
Top sells this quarter · 15
| WSM Williams-Sonoma, Inc.exit | −$10M |
| CLX The Clorox Companyexit | −$8M |
| MKC McCormick & Company, Incorporaexit | −$8M |
| CAVA CAVA Group, Inc.exit | −$5M |
| DKNG DraftKings Inc.exit | −$5M |
| CHDN Churchill Downs Incorporatedexit | −$5M |
| KR The Kroger Co.exit | −$5M |
| MNST Monster Beverage Corporation | −$4M |
| EL The Estée Lauder Companies Inexit | −$4M |
| UNF UniFirst Corporationexit | −$4M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $187M | 38 | -5.09% | -4.37% | -0.72% | +0.05B |
| 2025-12-31 | $149M | 24 | — | — | — | — |