Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.23%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.82%
baseline attrition
Rally response
-5.84%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EAElectronic Arts Inc. | $28M | 4.2% | +41.7% | 0.8 yr |
| GTLSChart Industries, Inc. | $27M | 4.0% | +43.2% | 1.0 yr |
| SEESealed Air Corporation | $26M | 3.8% | +48.7% | 0.5 yr |
| WBDWarner Bros. Discovery, | $25M | 3.8% | +155.9% | 4.0 yr |
| HOLXHologic, Inc. | $23M | 3.5% | +22.4% | 0.5 yr |
| TXNMTXNM Energy, Inc. | $20M | 3.0% | +12.5% | 5.3 yr |
| CWANClearwater Analytics Hol | $19M | 2.7% | -11.8% | 0.5 yr |
| ACLXArcellx, Inc. | $17M | 2.6% | — | 0.3 yr |
| PENPenumbra, Inc. | $17M | 2.5% | +22.8% | 0.3 yr |
| GDVThe Gabelli Dividend & I | $17M | 2.5% | — | 8.8 yr |
| MASIMasimo Corporation | $16M | 2.3% | +6.8% | 0.3 yr |
| GDLThe GDL Fund | $15M | 2.3% | — | 9.8 yr |
| NSCNorfolk Southern Corpora | $15M | 2.2% | +23.6% | 0.8 yr |
| ALAir Lease Corporation | $14M | 2.0% | +36.3% | 0.8 yr |
| KVUEKenvue Inc. | $13M | 1.9% | -25.0% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology8.5%+7.4pp$58M
Unknown8.1%+2.5pp$55M
Asset Management6.9%+3.7pp$47M
Entertainment5.5%+1.0pp$37M
Medical - Devices5.0%+0.8pp$34M
Software - Application4.9%+0.9pp$33M
Electronic Gaming & Multimedia4.2%+4.1pp$28M
Telecommunications Services4.1%-2.3pp$28M
Asset Management - Income4.1%+0.4pp$28M
Industrial - Machinery4.0%$27M
Country
US87.1%-0.4pp
Unknown7.7%+2.7pp
GB2.8%+2.3pp
KY0.8%+0.6pp
CA0.4%+0.2pp
IL0.3%+0.2pp
NL0.2%-1.4pp
MX0.2%+0.1pp
Top 5: 19.2% · Top 10: 32.6% · Top 25: 57.7%
Top buys this quarter · 15
| PEN Penumbra, Inc.new | +$17M |
| MASI Masimo Corporationnew | +$16M |
| WBD Warner Bros. Discovery, Inc. | +$14M |
| CWAN Clearwater Analytics Holdings, | +$12M |
| OS OneStream, Inc. Class A Commonnew | +$10M |
| SEE Sealed Air Corporation | +$9M |
| WBS Webster Financial Corporationnew | +$9M |
| APLS Apellis Pharmaceuticals, Inc.new | +$8M |
| TPH Tri Pointe Homes, Inc.new | +$7M |
| DAWN Day One Biopharmaceuticals, Innew | +$7M |
Top sells this quarter · 15
| EXAS Exact Sciences Corporationexit | −$24M |
| CFLT Confluent, Inc.exit | −$16M |
| NGD New Gold Inc.exit | −$9M |
| TGNA TEGNA Inc.exit | −$8M |
| FOX Fox Corporation | −$4M |
| CVGW Calavo Growers, Inc.exit | −$4M |
| GIW GigCapital8 Corp.exit | −$3M |
| OTGA OTG Acquisition Corp. I Class exit | −$3M |
| CSX CSX Corporationexit | −$3M |
| QIPT Quipt Home Medical Corp.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $674M | 297 | +24.43% | +17.59% | +6.84% | -0.01B |
| 2025-12-31 | $666M | 279 | +18.40% | +17.72% | +0.68% | +0.01B |
| 2025-09-30 | $624M | 273 | +16.98% | +17.52% | -0.54% | -0.08B |
| 2025-06-30 | $651M | 265 | +17.34% | +14.94% | +2.39% | -0.05B |
| 2025-03-31 | $662M | 251 | +1.69% | +8.30% | -6.62% | +0.09B |
| 2024-12-31 | $586M | 250 | +2.61% | +24.89% | -22.28% | -0.02B |
| 2024-09-30 | $586M | 223 | +3.87% | +36.04% | -32.17% | -0.06B |
| 2024-06-30 | $598M | 260 | -7.97% | +24.49% | -32.47% | +0.07B |
| 2024-03-31 | $574M | 257 | -3.24% | +29.62% | -32.87% | +0.05B |
| 2023-12-31 | $532M | 250 | -8.90% | +26.18% | -35.08% | -0.12B |
| 2023-09-30 | $614M | 257 | -15.44% | +21.57% | -37.01% | +0.04B |
| 2023-06-30 | $597M | 262 | +10.26% | +19.42% | -9.17% | +0.09B |
| 2023-03-31 | $520M | 243 | +3.66% | -7.82% | +11.48% | +0.08B |
| 2022-12-31 | $469M | 289 | -2.10% | +7.56% | -9.66% | -0.30B |
| 2022-09-30 | $787M | 466 | +24.79% | -4.93% | +29.71% | -0.18B |
| 2022-06-30 | $773M | 488 | -8.92% | -16.11% | +7.19% | +0.07B |