Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.79%
trims when stocks drop
when a holding falls −10%+
Middle response
+8.56%
steady accumulation
Rally response
-17.32%
trims into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CPNGCoupang, Inc. | $363M | 62.9% | -13.9% | 4.5 yr |
| CVNACarvana Co. | $182M | 31.5% | +50.4% | 1.0 yr |
| BOMNBoston Omaha Corporation | $29M | 4.9% | — | 6.8 yr |
| CRMTAmerica's Car-Mart, Inc. | $2M | 0.4% | -72.0% | 0.8 yr |
| TXTTextron Inc. | $1M | 0.2% | +21.3% | 6.8 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail62.9%-26.1pp$363M
Auto - Dealerships31.9%$184M
Advertising Agencies4.9%-0.1pp$29M
Aerospace & Defense0.2%+0.1pp$1M
Country
KR62.9%-26.1pp
US37.1%+29.1pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CPNG | $629M | -0.09B | -13.9% |
Top buys this quarter · 0
No buys this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $577M | 5 | +1.67% | +17.59% | -15.92% | -0.02B |
| 2025-12-31 | $753M | 7 | +28.41% | +17.72% | +10.70% | -0.04B |
| 2025-09-30 | $920M | 10 | +40.36% | +17.52% | +22.84% | -0.16B |
| 2025-06-30 | $996M | 7 | +50.80% | +14.94% | +35.86% | +0.03B |
| 2025-03-31 | $707M | 6 | +29.39% | +8.30% | +21.09% | +0.01B |
| 2024-12-31 | $705M | 10 | +45.09% | +24.89% | +20.20% | -0.00B |
| 2024-09-30 | $749M | 4 | +50.19% | +36.04% | +14.15% | +0.00B |
| 2024-06-30 | $639M | 5 | +23.85% | +24.49% | -0.64% | -0.02B |
| 2024-03-31 | $558M | 5 | +15.42% | +29.62% | -14.20% | -0.04B |
| 2023-12-31 | $540M | 10 | +12.45% | +26.18% | -13.73% | -0.03B |
| 2023-09-30 | $581M | 7 | +0.96% | +21.57% | -20.61% | -0.06B |
| 2023-06-30 | $669M | 9 | +33.94% | +19.42% | +14.52% | -0.03B |
| 2023-03-31 | $640M | 10 | -15.23% | -7.82% | -7.41% | -0.02B |
| 2022-12-31 | $602M | 8 | -12.03% | +7.56% | -19.59% | +0.09B |
| 2022-09-30 | $588M | 7 | +28.10% | -4.93% | +33.03% | -0.01B |
| 2022-06-30 | $466M | 6 | -30.80% | -16.11% | -14.69% | +0.03B |