Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.46%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.42%
baseline attrition
Rally response
-0.16%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CINFCincinnati Financial Cor | $15M | 7.4% | +8.3% | 1.3 yr |
| SHViShares 0â1 Year Treas | $8M | 3.8% | — | 1.5 yr |
| SPYState Street SPDR S&P 50 | $8M | 3.7% | +17.6% | 1.5 yr |
| MINTPIMCO Enhanced Short Mat | $7M | 3.6% | — | 1.5 yr |
| STEWSRH Total Return Fund, I | $7M | 3.6% | — | 1.5 yr |
| ADXAdams Diversified Equity | $6M | 3.1% | — | 1.5 yr |
| VICRVicor Corporation | $6M | 2.8% | +244.2% | 1.5 yr |
| SSSSSuRo Capital Corp. | $5M | 2.6% | +127.9% | 1.5 yr |
| JAAAJanus Henderson AAA CLO | $5M | 2.4% | — | 1.3 yr |
| GBILGoldman Sachs Access Tre | $5M | 2.2% | — | 1.5 yr |
| VCRBVanguard Core Bond ETF | $4M | 2.0% | — | 0.5 yr |
| JPSTJPMorgan Ultra-Short Inc | $4M | 1.8% | — | 1.5 yr |
| USFRWisdomTree Floating Rate | $4M | 1.8% | — | 1.3 yr |
| SPE-PCSpecial Opportunities Fu | $4M | 1.7% | — | 1.5 yr |
| NVDANVIDIA Corporation | $3M | 1.5% | +60.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management46.4%+6.1pp$95M
Insurance - Property & Casualty7.6%-3.2pp$16M
Asset Management - Bonds7.3%-4.3pp$15M
Asset Management - Leveraged4.3%-3.9pp$9M
Hardware, Equipment & Parts3.7%+3.0pp$8M
Semiconductors2.5%+0.8pp$5M
Asset Management - Income2.4%-0.2pp$5M
Financial - Credit Services1.8%+0.4pp$4M
Banks - Diversified1.8%+0.1pp$4M
Packaged Foods1.6%+0.3pp$3M
Country
US96.9%-1.7pp
CA1.2%+1.0pp
JP0.7%
Unknown0.6%
KY0.2%-0.0pp
IE0.2%
UY0.1%-0.1pp
TW0.1%
Top 5: 22.1% · Top 10: 35.2% · Top 25: 55.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| SSSS | $3M | +0.00B | 127.9% |
| VICR | $1M | +0.00B | 244.2% |
| MAMA | $1M | +0.00B | 135.6% |
| CINF | $14M | +0.00B | 8.3% |
| NVDA | $1M | +0.00B | 60.9% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| CBZ CBIZ, Inc.new | +$3M |
| BN Brookfield Corporation | +$2M |
| WATT Energous Corporationnew | +$2M |
| SPY State Street SPDR S&P 500 ETF | +$1M |
| TCPC BlackRock TCP Capital Corp.new | +$1M |
| PYPL PayPal Holdings, Inc. | +$1M |
| CI Cigna Corporationnew | +$1M |
| SUNS Sunrise Realty Trust, Inc. | +$1M |
| NVDA NVIDIA Corporation | +$0M |
| AXP American Express Companynew | +$0M |
Top sells this quarter · 15
| CVNA Carvana Co. | −$3M |
| BW Babcock & Wilcox Enterprises, exit | −$1M |
| TOI The Oncology Institute, Inc.exit | −$1M |
| PESI Perma-Fix Environmental Servic | −$0M |
| CRMD CorMedix Inc.exit | −$0M |
| HD The Home Depot, Inc.exit | −$0M |
| TSLA Tesla, Inc.exit | −$0M |
| PSEC Prospect Capital Corporation | −$0M |
| WHF WhiteHorse Finance, Inc.exit | −$0M |
| ZETA Zeta Global Holdings Corp. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $206M | 170 | +27.42% | +17.59% | +9.83% | +0.02B |
| 2025-12-31 | $194M | 156 | +28.32% | +17.72% | +10.61% | +0.01B |
| 2025-09-30 | $173M | 144 | +14.03% | +8.12% | +5.90% | +0.00B |
| 2025-06-30 | $151M | 126 | +13.26% | +10.78% | +2.49% | -0.00B |
| 2025-03-31 | $133M | 113 | -4.30% | -4.27% | -0.03% | +0.05B |
| 2024-12-31 | $91M | 101 | — | — | — | — |