Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.04%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.79%
baseline attrition
Rally response
-7.98%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $94M | 5.7% | +84.3% | 10.5 yr |
| AMZNAmazon.com, Inc. | $54M | 3.3% | +9.5% | 6.0 yr |
| MSFTMicrosoft Corporation | $54M | 3.3% | -0.6% | 8.5 yr |
| AMATApplied Materials, Inc. | $49M | 3.0% | +137.6% | 7.0 yr |
| AVGOBroadcom Inc. | $48M | 2.9% | +86.0% | 3.8 yr |
| ADIAnalog Devices, Inc. | $48M | 2.9% | +60.2% | 6.3 yr |
| VVisa Inc. | $43M | 2.7% | -13.1% | 8.3 yr |
| AZOAutoZone, Inc. | $43M | 2.6% | -11.4% | 2.3 yr |
| JPMJPMorgan Chase & Co. | $42M | 2.5% | +21.8% | 5.8 yr |
| LLYEli Lilly and Company | $41M | 2.5% | +12.2% | 10.3 yr |
| NVDANVIDIA Corporation | $40M | 2.4% | +60.9% | 5.0 yr |
| WCNWaste Connections, Inc. | $39M | 2.4% | -16.2% | 8.3 yr |
| DHRDanaher Corporation | $36M | 2.2% | -7.1% | 9.0 yr |
| AWKAmerican Water Works Com | $35M | 2.1% | -5.4% | 8.5 yr |
| TRNOTerreno Realty Corporati | $34M | 2.1% | +0.0% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.5%+5.6pp$221M
Internet Content & Information6.7%+0.7pp$110M
Specialty Retail5.9%-1.2pp$97M
Software - Infrastructure5.7%-0.9pp$94M
Medical - Diagnostics & Research4.9%-0.2pp$81M
Drug Manufacturers - General4.8%+3.4pp$79M
Aerospace & Defense4.6%+1.6pp$75M
REIT - Industrial3.4%+0.9pp$56M
Waste Management3.1%+0.4pp$51M
Medical - Devices3.0%-1.2pp$50M
Country
US92.2%-0.5pp
CA3.0%-1.0pp
Unknown2.3%
GB1.7%-0.1pp
CH0.8%+0.1pp
HK0.1%
TW0.0%
Top 5: 18.2% · Top 10: 31.4% · Top 25: 60.5%
Top buys this quarter · 15
| ABBV AbbVie Inc. | +$23M |
| SLB SLB N.V. | +$18M |
| NVDA NVIDIA Corporation | +$17M |
| BSX Boston Scientific Corporation | +$11M |
| DOCN DigitalOcean Holdings, Inc.new | +$10M |
| LOAR Loar Holdings Inc.new | +$8M |
| ALHC Alignment Healthcare, Inc.new | +$6M |
| COGT Cogent Biosciences, Inc.new | +$6M |
| VSEC VSE Corporation | +$4M |
| RGEN Repligen Corporation | +$4M |
Top sells this quarter · 15
| INTU Intuit Inc.exit | −$19M |
| PSA Public Storage | −$18M |
| CRM Salesforce, Inc. | −$18M |
| AMZN Amazon.com, Inc. | −$16M |
| MOD Modine Manufacturing Company | −$12M |
| MSFT Microsoft Corporation | −$12M |
| MGY Magnolia Oil & Gas Corporationexit | −$10M |
| KEYS Keysight Technologies, Inc. | −$31M |
| GOOG Alphabet Inc. | −$9M |
| AVGO Broadcom Inc. | −$8M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.64B | 220 | +14.93% | +17.59% | -2.66% | -0.07B |
| 2025-12-31 | $1.77B | 272 | +10.05% | +17.72% | -7.66% | -0.02B |
| 2025-09-30 | $1.72B | 259 | +3.96% | +17.52% | -13.55% | +0.00B |
| 2025-06-30 | $1.63B | 267 | +4.16% | +14.94% | -10.78% | -0.02B |
| 2025-03-31 | $1.52B | 320 | -2.18% | +8.30% | -10.49% | -0.03B |
| 2024-12-31 | $1.67B | 178 | +17.07% | +24.89% | -7.81% | +0.01B |
| 2024-09-30 | $1.69B | 176 | +35.57% | +36.04% | -0.46% | +0.06B |
| 2024-06-30 | $1.55B | 180 | +22.86% | +24.49% | -1.63% | +0.02B |
| 2024-03-31 | $1.50B | 176 | +28.68% | +29.62% | -0.94% | -0.05B |
| 2023-12-31 | $1.40B | 181 | +25.65% | +26.18% | -0.53% | +0.01B |
| 2023-09-30 | $1.21B | 188 | +18.06% | +21.57% | -3.50% | -0.07B |
| 2023-06-30 | $1.35B | 192 | +18.44% | +19.42% | -0.98% | -0.01B |
| 2023-03-31 | $1.27B | 191 | -4.49% | -7.82% | +3.33% | -0.00B |
| 2022-12-31 | $1.18B | 214 | -15.73% | -18.17% | +2.45% | -0.03B |
| 2022-09-30 | $1.13B | 213 | -4.28% | -4.93% | +0.65% | +0.03B |
| 2022-06-30 | $1.14B | 113 | -13.86% | -16.11% | +2.25% | -0.17B |