Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| ENV | Buy | ENVESTNET INC | $23,832,338 | +63.6% | 541,275 | +120.5% | 10.53% | +59.3% |
| KMPR | Buy | KEMPER CORP | $14,490,179 | +110.6% | 344,758 | +141.8% | 6.40% | +105.0% |
| BILL | Buy | BILL HOLDINGS INC | $14,413,862 | +417.6% | 132,761 | +457.1% | 6.37% | +404.0% |
| QTWO | Sell | Q2 HLDGS INC | $13,235,379 | -4.7% | 410,145 | -8.8% | 5.84% | -7.3% |
| BXP | Buy | BOSTON PROPERTIES INC | $12,864,989 | +24.0% | 216,291 | +20.1% | 5.68% | +20.7% |
| INVH | New | INVITATION HOMES INC | $12,614,078 | – | 398,046 | – | 5.57% | – |
| DEI | Buy | DOUGLAS EMMETT INC | $12,115,939 | +41.4% | 949,525 | +39.3% | 5.35% | +37.7% |
| MTG | Buy | MGIC INVT CORP WIS | $12,108,729 | +14.6% | 725,508 | +8.4% | 5.35% | +11.6% |
| RDN | Buy | RADIAN GROUP INC | $11,174,703 | +78.2% | 445,030 | +79.4% | 4.94% | +73.5% |
| New | FIRSTCASH HOLDINGS INC | $10,967,720 | – | 109,262 | – | 4.84% | – | |
| FLYW | Sell | FLYWIRE CORPORATION | $10,963,017 | -37.0% | 343,776 | -38.7% | 4.84% | -38.7% |
| AB | Buy | ALLIANCEBERNSTEIN HLDG L Punit ltd partn | $10,764,750 | -2.4% | 354,687 | +3.4% | 4.75% | -5.0% |
| SEIC | New | SEI INVTS CO | $9,849,291 | – | 163,528 | – | 4.35% | – |
| BLK | Buy | BLACKROCK INC | $9,529,263 | +2.5% | 14,740 | +9.6% | 4.21% | -0.2% |
| TRU | Buy | TRANSUNION | $9,488,915 | +22.2% | 132,176 | +33.3% | 4.19% | +19.0% |
| LPLA | Sell | LPL FINL HLDGS INC | $8,826,796 | -36.1% | 37,142 | -41.5% | 3.90% | -37.8% |
| V | New | VISA INC | $8,701,278 | – | 37,830 | – | 3.84% | – |
| PAR | New | PAR TECHNOLOGY CORP | $7,710,081 | – | 200,054 | – | 3.40% | – |
| TW | New | TRADEWEB MKTS INCcl a | $6,435,408 | – | 80,242 | – | 2.84% | – |
| WETF | Sell | WISDOMTREE INC | $6,336,232 | -29.6% | 905,176 | -31.0% | 2.80% | -31.4% |
| CME | Exit | CME GROUP INC | $0 | – | -1,765 | – | -0.15% | – |
| ALTG | Exit | ALTA EQUIPMENT GROUP INC | $0 | – | -42,417 | – | -0.33% | – |
| SLM | Exit | SLM CORP | $0 | – | -528,356 | – | -3.91% | – |
| LAZ | Exit | LAZARD LTD | $0 | – | -308,813 | – | -4.48% | – |
| BKI | Exit | BLACK KNIGHT INC | $0 | – | -174,365 | – | -4.72% | – |
| WAL | Exit | WESTERN ALLIANCE BANCORP | $0 | – | -297,282 | – | -4.92% | – |
| SPGI | Exit | S&P GLOBAL INC | $0 | – | -30,388 | – | -5.53% | – |
| SSNC | Exit | SS&C TECHNOLOGIES HLDGS INC | $0 | – | -202,062 | – | -5.56% | – |
| PCOR | Exit | PROCORE TECHNOLOGIES INC | $0 | – | -199,557 | – | -5.89% | – |
Q2 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FLYW | New | FLYWIRE CORPORATION | $17,405,121 | – | 560,732 | – | 7.90% | – |
| ENV | New | ENVESTNET INC | $14,569,653 | – | 245,487 | – | 6.61% | – |
| QTWO | New | Q2 HLDGS INC | $13,891,682 | – | 449,569 | – | 6.30% | – |
| LPLA | New | LPL FINL HLDGS INC | $13,805,283 | – | 63,493 | – | 6.26% | – |
| PCOR | New | PROCORE TECHNOLOGIES INC | $12,985,174 | – | 199,557 | – | 5.89% | – |
| SSNC | New | SS&C TECHNOLOGIES HLDGS INC | $12,244,957 | – | 202,062 | – | 5.56% | – |
| SPGI | New | S&P GLOBAL INC | $12,182,245 | – | 30,388 | – | 5.53% | – |
| AB | New | ALLIANCEBERNSTEIN HLDG L Punit ltd partn | $11,029,497 | – | 342,957 | – | 5.00% | – |
| WAL | New | WESTERN ALLIANCE BANCORP | $10,841,875 | – | 297,282 | – | 4.92% | – |
| MTG | New | MGIC INVT CORP WIS | $10,563,810 | – | 669,019 | – | 4.79% | – |
| BKI | New | BLACK KNIGHT INC | $10,414,821 | – | 174,365 | – | 4.72% | – |
| BXP | New | BOSTON PROPERTIES INC | $10,375,184 | – | 180,156 | – | 4.71% | – |
| LAZ | New | LAZARD LTD | $9,882,016 | – | 308,813 | – | 4.48% | – |
| BLK | New | BLACKROCK INC | $9,295,833 | – | 13,450 | – | 4.22% | – |
| WETF | New | WISDOMTREE INC | $8,996,540 | – | 1,311,449 | – | 4.08% | – |
| SLM | New | SLM CORP | $8,622,770 | – | 528,356 | – | 3.91% | – |
| DEI | New | DOUGLAS EMMETT INC | $8,565,575 | – | 681,430 | – | 3.89% | – |
| TRU | New | TRANSUNION | $7,766,185 | – | 99,147 | – | 3.52% | – |
| KMPR | New | KEMPER CORP | $6,881,635 | – | 142,595 | – | 3.12% | – |
| RDN | New | RADIAN GROUP INC | $6,271,488 | – | 248,081 | – | 2.84% | – |
| BILL | New | BILL HOLDINGS INC | $2,784,652 | – | 23,831 | – | 1.26% | – |
| ALTG | New | ALTA EQUIPMENT GROUP INC | $735,087 | – | 42,417 | – | 0.33% | – |
| CME | New | CME GROUP INC | $327,037 | – | 1,765 | – | 0.15% | – |
Q4 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| SNEX | Exit | STONEX GROUP INC | $0 | – | -32,817 | – | -1.29% | – |
| WETF | Exit | WISDOMTREE INVTS INC | $0 | – | -880,529 | – | -1.96% | – |
| BGCP | Exit | BGC PARTNERS INCcl a | $0 | – | -1,854,805 | – | -2.77% | – |
| SPGI | Exit | S&P GLOBAL INC | $0 | – | -19,482 | – | -2.82% | – |
| Exit | ENGAGESMART INC | $0 | – | -289,983 | – | -2.85% | – | |
| Exit | NUVEI CORPORATION | $0 | – | -229,953 | – | -2.95% | – | |
| RDN | Exit | RADIAN GROUP INC | $0 | – | -331,650 | – | -3.04% | – |
| TRU | Exit | TRANSUNION | $0 | – | -110,872 | – | -3.13% | – |
| WD | Exit | WALKER & DUNLOP INC | $0 | – | -82,346 | – | -3.28% | – |
| CBOE | Exit | CBOE GLOBAL MKTS INC | $0 | – | -60,937 | – | -3.40% | – |
| SF | Exit | STIFEL FINL CORP | $0 | – | -144,118 | – | -3.55% | – |
| AEL | Exit | AMERICAN EQTY INVT LIFE HLD | $0 | – | -202,803 | – | -3.59% | – |
| ESNT | Exit | ESSENT GROUP LTD | $0 | – | -221,308 | – | -3.66% | – |
| LPLA | Exit | LPL FINL HLDGS INC | $0 | – | -36,334 | – | -3.77% | – |
| FLYW | Exit | FLYWIRE CORPORATION | $0 | – | -349,962 | – | -3.82% | – |
| MA | Exit | MASTERCARD INCORPORATEDcl a | $0 | – | -29,579 | – | -3.99% | – |
| DEI | Exit | DOUGLAS EMMETT INC | $0 | – | -470,480 | – | -4.01% | – |
| BILL | Exit | BILL COM HLDGS INC | $0 | – | -64,897 | – | -4.08% | – |
| FHI | Exit | FEDERATED HERMES INCcl b | $0 | – | -271,913 | – | -4.28% | – |
| GCMG | Exit | GCM GROSVENOR INC | $0 | – | -1,159,637 | – | -4.35% | – |
| CG | Exit | CARLYLE GROUP INC | $0 | – | -371,500 | – | -4.56% | – |
| BKI | Exit | BLACK KNIGHT INC | $0 | – | -154,683 | – | -4.76% | – |
| Exit | AVIDXCHANGE HOLDINGS INC | $0 | – | -1,298,642 | – | -5.19% | – | |
| BTRS | Exit | BTRS HOLDINGS INC | $0 | – | -1,309,961 | – | -5.76% | – |
| Exit | MFA FINL INC | $0 | – | -1,752,885 | – | -6.48% | – | |
| MQ | Exit | MARQETA INC | $0 | – | -1,970,360 | – | -6.66% | – |
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MQ | New | MARQETA INC | $14,029,000 | – | 1,970,360 | – | 6.66% | – |
| New | MFA FINL INC | $13,637,000 | – | 1,752,885 | – | 6.48% | – | |
| BTRS | Buy | BTRS HOLDINGS INC | $12,130,000 | +214.2% | 1,309,961 | +69.0% | 5.76% | +190.2% |
| New | AVIDXCHANGE HOLDINGS INC | $10,935,000 | – | 1,298,642 | – | 5.19% | – | |
| BKI | Buy | BLACK KNIGHT INC | $10,013,000 | +15.3% | 154,683 | +16.4% | 4.76% | +6.5% |
| CG | Buy | CARLYLE GROUP INC | $9,600,000 | -3.3% | 371,500 | +18.5% | 4.56% | -10.7% |
| GCMG | Sell | GCM GROSVENOR INC | $9,150,000 | -8.0% | 1,159,637 | -20.1% | 4.35% | -15.0% |
| FHI | New | FEDERATED HERMES INCcl b | $9,006,000 | – | 271,913 | – | 4.28% | – |
| BILL | Sell | BILL COM HLDGS INC | $8,590,000 | -35.3% | 64,897 | -46.3% | 4.08% | -40.3% |
| DEI | Buy | DOUGLAS EMMETT INC | $8,436,000 | -0.0% | 470,480 | +24.8% | 4.01% | -7.7% |
| MA | Buy | MASTERCARD INCORPORATEDcl a | $8,410,000 | +25.1% | 29,579 | +38.8% | 3.99% | +15.5% |
| FLYW | Sell | FLYWIRE CORPORATION | $8,035,000 | -28.6% | 349,962 | -45.2% | 3.82% | -34.1% |
| LPLA | Sell | LPL FINL HLDGS INC | $7,938,000 | +7.8% | 36,334 | -9.0% | 3.77% | -0.5% |
| ESNT | Sell | ESSENT GROUP LTD | $7,717,000 | -15.4% | 221,308 | -5.7% | 3.66% | -21.9% |
| AEL | New | AMERICAN EQTY INVT LIFE HLD | $7,563,000 | – | 202,803 | – | 3.59% | – |
| SF | New | STIFEL FINL CORP | $7,481,000 | – | 144,118 | – | 3.55% | – |
| CBOE | New | CBOE GLOBAL MKTS INC | $7,152,000 | – | 60,937 | – | 3.40% | – |
| WD | Buy | WALKER & DUNLOP INC | $6,895,000 | +7.7% | 82,346 | +23.9% | 3.28% | -0.5% |
| TRU | New | TRANSUNION | $6,596,000 | – | 110,872 | – | 3.13% | – |
| RDN | Sell | RADIAN GROUP INC | $6,398,000 | -7.3% | 331,650 | -5.6% | 3.04% | -14.4% |
| New | NUVEI CORPORATION | $6,220,000 | – | 229,953 | – | 2.95% | – | |
| New | ENGAGESMART INC | $6,000,000 | – | 289,983 | – | 2.85% | – | |
| SPGI | Sell | S&P GLOBAL INC | $5,949,000 | -36.9% | 19,482 | -30.3% | 2.82% | -41.7% |
| BGCP | New | BGC PARTNERS INCcl a | $5,824,000 | – | 1,854,805 | – | 2.77% | – |
| WETF | Sell | WISDOMTREE INVTS INC | $4,121,000 | -32.5% | 880,529 | -26.9% | 1.96% | -37.7% |
| SNEX | Sell | STONEX GROUP INC | $2,722,000 | -46.0% | 32,817 | -49.2% | 1.29% | -50.1% |
| MS | Exit | MORGAN STANLEY | $0 | – | -43,364 | – | -1.70% | – |
| SSNC | Exit | SS&C TECHNOLOGIES HLDGS INC | $0 | – | -82,629 | – | -2.47% | – |
| FOUR | Exit | SHIFT4 PMTS INCcl a | $0 | – | -158,867 | – | -2.70% | – |
| RJF | Exit | RAYMOND JAMES FINL INC | $0 | – | -68,223 | – | -3.14% | – |
| SCHW | Exit | SCHWAB CHARLES CORP | $0 | – | -112,859 | – | -3.67% | – |
| HCI | Exit | HCI GROUP INC | $0 | – | -111,943 | – | -3.90% | – |
| IBKR | Exit | INTERACTIVE BROKERS GROUP IN | $0 | – | -163,744 | – | -4.63% | – |
| KMPR | Exit | KEMPER CORP | $0 | – | -234,708 | – | -5.78% | – |
| COWN | Exit | COWEN INCcl a new | $0 | – | -741,285 | – | -9.03% | – |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| COWN | New | COWEN INCcl a new | $17,561,000 | – | 741,285 | – | 9.03% | – |
| BILL | New | BILL COM HLDGS INC | $13,279,000 | – | 120,780 | – | 6.83% | – |
| FLYW | New | FLYWIRE CORPORATION | $11,253,000 | – | 638,298 | – | 5.79% | – |
| KMPR | New | KEMPER CORP | $11,243,000 | – | 234,708 | – | 5.78% | – |
| GCMG | New | GCM GROSVENOR INC | $9,944,000 | – | 1,451,624 | – | 5.11% | – |
| CG | New | CARLYLE GROUP INC | $9,924,000 | – | 313,454 | – | 5.10% | – |
| SPGI | New | S&P GLOBAL INC | $9,421,000 | – | 27,951 | – | 4.84% | – |
| ESNT | New | ESSENT GROUP LTD | $9,126,000 | – | 234,596 | – | 4.69% | – |
| IBKR | New | INTERACTIVE BROKERS GROUP IN | $9,008,000 | – | 163,744 | – | 4.63% | – |
| BKI | New | BLACK KNIGHT INC | $8,687,000 | – | 132,843 | – | 4.47% | – |
| DEI | New | DOUGLAS EMMETT INC | $8,438,000 | – | 377,016 | – | 4.34% | – |
| HCI | New | HCI GROUP INC | $7,585,000 | – | 111,943 | – | 3.90% | – |
| LPLA | New | LPL FINL HLDGS INC | $7,367,000 | – | 39,932 | – | 3.79% | – |
| SCHW | New | SCHWAB CHARLES CORP | $7,130,000 | – | 112,859 | – | 3.67% | – |
| RDN | New | RADIAN GROUP INC | $6,902,000 | – | 351,260 | – | 3.55% | – |
| MA | New | MASTERCARD INCORPORATEDcl a | $6,724,000 | – | 21,315 | – | 3.46% | – |
| WD | New | WALKER & DUNLOP INC | $6,402,000 | – | 66,447 | – | 3.29% | – |
| WETF | New | WISDOMTREE INVTS INC | $6,106,000 | – | 1,204,246 | – | 3.14% | – |
| RJF | New | RAYMOND JAMES FINL INC | $6,100,000 | – | 68,223 | – | 3.14% | – |
| FOUR | New | SHIFT4 PMTS INCcl a | $5,252,000 | – | 158,867 | – | 2.70% | – |
| SNEX | New | STONEX GROUP INC | $5,043,000 | – | 64,592 | – | 2.59% | – |
| SSNC | New | SS&C TECHNOLOGIES HLDGS INC | $4,798,000 | – | 82,629 | – | 2.47% | – |
| BTRS | New | BTRS HOLDINGS INC | $3,860,000 | – | 775,197 | – | 1.98% | – |
| MS | New | MORGAN STANLEY | $3,298,000 | – | 43,364 | – | 1.70% | – |