Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.79%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.91%
baseline attrition
Rally response
-5.45%
trims into rallies
when a holding rises +10%+
Top positions · 7
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KVYOKlaviyo, Inc. | $367M | 54.7% | -35.7% | 2.8 yr |
| LFSTLifeStance Health Group, | $186M | 27.8% | -4.4% | 5.0 yr |
| AKAa.k.a. Brands Holding Co | $62M | 9.3% | -23.5% | 2.3 yr |
| AVAHAveanna Healthcare Holdi | $35M | 5.2% | +18.8% | 1.0 yr |
| MTSIMACOM Technology Solutio | $11M | 1.6% | +121.2% | 10.3 yr |
| ATENA10 Networks, Inc. | $5M | 0.7% | +43.3% | 10.5 yr |
| DTCBSolo Brands, Inc. | $4M | 0.6% | — | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure55.4%-17.6pp$372M
Medical - Care Facilities33.0%+15.7pp$221M
Specialty Retail9.9%+4.4pp$67M
Semiconductors1.6%+1.3pp$11M
Country
US100.0%+0.0pp
Top 5: 98.7% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $670M | 7 | -22.43% | +17.59% | -40.03% | -0.08B |
| 2025-12-31 | $1.05B | 8 | -17.90% | +17.72% | -35.62% | -0.03B |
| 2025-09-30 | $924M | 8 | -20.86% | +17.52% | -38.38% | -0.35B |
| 2025-06-30 | $1.42B | 7 | +25.43% | +14.94% | +10.49% | -0.24B |
| 2025-03-31 | $1.61B | 9 | +17.72% | +8.30% | +9.41% | -0.08B |
| 2024-12-31 | $2.23B | 8 | +39.60% | +24.89% | +14.72% | -0.29B |
| 2024-09-30 | $2.24B | 9 | +6.53% | +36.04% | -29.51% | -0.16B |
| 2024-06-30 | $1.68B | 9 | -41.17% | +24.49% | -65.66% | -0.07B |
| 2024-03-31 | $1.81B | 10 | -27.92% | +29.62% | -57.55% | -0.65B |
| 2023-12-31 | $2.74B | 11 | +10.55% | +26.18% | -15.62% | +0.24B |
| 2023-09-30 | $2.92B | 11 | +8.50% | +21.57% | -13.07% | +1.83B |
| 2023-06-30 | $1.38B | 10 | +52.38% | +19.42% | +32.96% | -0.26B |
| 2023-03-31 | $1.38B | 10 | -15.55% | -7.82% | -7.73% | -0.31B |
| 2022-12-31 | $1.23B | 10 | -15.76% | +7.56% | -23.32% | +0.01B |
| 2022-09-30 | $1.44B | 11 | +10.62% | -4.93% | +15.55% | -0.22B |
| 2022-06-30 | $1.50B | 11 | -34.29% | -16.11% | -18.18% | +0.01B |