Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-62.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-77.18%
baseline attrition
Rally response
-31.99%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KYNKayne Anderson Energy In | $4M | 4.4% | — | 0.5 yr |
| — | $3M | 3.0% | — | 0.5 yr |
| TYGTortoise Energy Infrastr | $2M | 2.4% | — | 0.5 yr |
| OTFBlue Owl Technology Fina | $2M | 2.1% | — | 0.5 yr |
| EODWells Fargo Advantage Fu | $2M | 2.1% | — | 0.5 yr |
| CPZCalamos Long/Short Equit | $2M | 1.9% | — | 0.5 yr |
| RFMZRiverNorth Flexible Muni | $2M | 1.8% | — | 0.5 yr |
| SDHYPGIM Short Duration High | $2M | 1.7% | — | 0.5 yr |
| MEGINYLI CBRE Global Infrast | $2M | 1.7% | — | 0.5 yr |
| SABASaba Capital Income & Op | $2M | 1.7% | — | 0.5 yr |
| — | $2M | 1.7% | — | 0.5 yr |
| DMADestra Multi-Alternative | $2M | 1.7% | — | 0.5 yr |
| GUGGuggenheim Active Alloca | $2M | 1.7% | — | 0.5 yr |
| PNIPIMCO New York Municipal | $2M | 1.6% | — | 0.3 yr |
| FINSAngel Oak Financial Stra | $2M | 1.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management49.7%$49M
Asset Management - Income32.7%$32M
Unknown6.0%$6M
Asset Management - Global5.3%$5M
Asset Management - Leveraged2.5%$2M
Asset Management - Bonds0.8%$1M
Financial - Credit Services0.7%$1M
Drug Manufacturers - General0.7%$1M
Software - Infrastructure0.6%$1M
Financial - Conglomerates0.6%$1M
Country
US92.7%
Unknown6.0%
GB1.1%
FR0.2%
Top 5: 14.0% · Top 10: 22.9% · Top 25: 45.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| OTF Blue Owl Technology Finance Co | +$2M |
| HTGC Hercules Capital, Inc. | +$0M |
| FSK FS KKR Capital Corp. | +$0M |
| LIEN Chicago Atlantic BDC, Inc. | +$0M |
| WHF WhiteHorse Finance, Inc. | +$0M |
| BANX ArrowMark Financial Corp. | +$1M |
| MSFT Microsoft Corporation | +$1M |
| AFB AllianceBernstein National Mun | +$0M |
| ARDC Ares Dynamic Credit Allocation | +$0M |
| MHD BlackRock MuniHoldings Fund, I | +$0M |
Top sells this quarter · 15
| NCDL Nuveen Churchill Direct Lendin | −$6M |
| GBDC Golub Capital BDC, Inc. | −$5M |
| TRIN Trinity Capital Inc. | −$5M |
| NMFC New Mountain Finance Corporati | −$4M |
| BCSF Bain Capital Specialty Finance | −$4M |
| OBDC Blue Owl Capital Corporationexit | −$4M |
| SLRC SLR Investment Corp.exit | −$4M |
| MSDL Morgan Stanley Direct Lending | −$3M |
| SAR Saratoga Investment Corp.exit | −$3M |
| GSBD Goldman Sachs BDC, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $98M | 162 | -7.30% | -4.37% | -2.93% | -0.06B |
| 2025-12-31 | $169M | 185 | — | — | — | — |