Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.00%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
+0.00%
adds into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HYDBiShares High Yield Syste | $235M | 57.9% | — | 1.3 yr |
| ESNTEssent Group Ltd. | $97M | 24.0% | +3.4% | 6.5 yr |
| REMXVanEck Rare Earth and St | $47M | 11.5% | — | 0.3 yr |
| UVEUniversal Insurance Hold | $20M | 4.9% | +48.0% | 6.5 yr |
| TRUPTrupanion, Inc. | $7M | 1.7% | -31.3% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management - Bonds57.9%+19.9pp$235M
Insurance - Specialty25.6%+8.7pp$104M
Asset Management11.5%-31.2pp$47M
Insurance - Property & Casualty4.9%+2.7pp$20M
Country
US76.0%-8.6pp
BM24.0%+8.6pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| TRUP | $10M | -0.00B | -31.3% |
Top buys this quarter · 1
| REMX VanEck Rare Earth and Strateginew | +$0M |
Top sells this quarter · 1
| MBB iShares MBS ETFexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $406M | 5 | +5.65% | +17.59% | -11.94% | -0.27B |
| 2025-12-31 | $744M | 5 | +21.54% | +17.72% | +3.82% | -0.03B |
| 2025-09-30 | $741M | 5 | +3.26% | +17.52% | -14.25% | +0.09B |
| 2025-06-30 | $640M | 5 | +19.96% | +14.94% | +5.01% | -0.05B |
| 2025-03-31 | $626M | 5 | +3.43% | +8.30% | -4.87% | +0.51B |
| 2024-12-31 | $116M | 3 | +12.18% | +24.89% | -12.70% | -0.00B |
| 2024-09-30 | $131M | 3 | +41.67% | +36.04% | +5.63% | -0.00B |
| 2024-06-30 | $112M | 3 | +24.56% | +24.49% | +0.07% | -0.00B |
| 2024-03-31 | $118M | 3 | +35.95% | +29.62% | +6.33% | -0.00B |
| 2023-12-31 | $105M | 3 | +28.12% | +26.18% | +1.95% | -0.00B |
| 2023-09-30 | $94M | 3 | +19.03% | +21.57% | -2.53% | -0.00B |
| 2023-06-30 | $92M | 3 | +7.70% | +19.42% | -11.72% | -0.31B |
| 2023-03-31 | $385M | 7 | -8.80% | -7.82% | -0.98% | -0.11B |
| 2022-12-31 | $461M | 8 | +4.14% | +7.56% | -3.42% | -0.38B |
| 2022-09-30 | $806M | 9 | -6.68% | -4.93% | -1.75% | +0.25B |
| 2022-06-30 | $590M | 8 | -11.77% | -16.11% | +4.34% | +0.01B |