Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.69%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.59%
baseline attrition
Rally response
-10.53%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $62M | 2.2% | +14.7% | 10.5 yr |
| LFUSLittelfuse, Inc. | $58M | 2.0% | +74.5% | 10.5 yr |
| APHAmphenol Corporation | $56M | 2.0% | +93.6% | 10.5 yr |
| IDAIDACORP, Inc. | $54M | 1.9% | +26.5% | 10.5 yr |
| IGSBiShares 1-5 Year Investm | $53M | 1.9% | — | 0.8 yr |
| AITApplied Industrial Techn | $49M | 1.7% | +18.6% | 10.3 yr |
| MLIMueller Industries, Inc. | $49M | 1.7% | +47.2% | 10.5 yr |
| RJFRaymond James Financial, | $47M | 1.7% | +5.2% | 10.5 yr |
| NVDANVIDIA Corporation | $44M | 1.6% | +60.9% | 6.5 yr |
| GOOGAlphabet Inc. | $39M | 1.4% | +84.3% | 10.5 yr |
| WSFSWSFS Financial Corporati | $38M | 1.4% | +27.8% | 7.8 yr |
| HEI-AHEICO Corporation | $37M | 1.3% | — | 10.5 yr |
| WWDWoodward, Inc. | $37M | 1.3% | +97.0% | 10.5 yr |
| SMTCSemtech Corporation | $37M | 1.3% | +123.5% | 10.5 yr |
| NGVTIngevity Corporation | $35M | 1.2% | +79.9% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional7.1%-0.2pp$200M
Semiconductors6.6%+2.5pp$186M
Hardware, Equipment & Parts6.4%+2.4pp$180M
Software - Infrastructure4.0%-1.8pp$112M
Aerospace & Defense3.4%+0.9pp$94M
Chemicals - Specialty3.1%+0.4pp$87M
Internet Content & Information2.7%+1.1pp$76M
Software - Application2.6%-1.8pp$73M
Medical - Diagnostics & Research2.5%+0.6pp$71M
Regulated Electric2.4%+0.2pp$68M
Country
US96.3%+1.1pp
CA1.1%+0.3pp
BS1.1%+0.2pp
IE0.7%+0.4pp
Unknown0.5%-1.7pp
DK0.2%-0.3pp
IT0.1%-0.0pp
NL0.0%+0.0pp
Top 5: 10.1% · Top 10: 18.2% · Top 25: 36.1%
Top buys this quarter · 15
| PLXS Plexus Corp. | +$13M |
| AIR AAR Corp.new | +$10M |
| SEI Solaris Energy Infrastructure,new | +$9M |
| LLY Eli Lilly and Company | +$8M |
| RDNT RadNet, Inc. | +$7M |
| HNGE Hinge Health, Inc. | +$7M |
| AXSM Axsome Therapeutics, Inc.new | +$7M |
| BFAM Bright Horizons Family Solutio | +$5M |
| VERX Vertex, Inc. | +$14M |
| LGND Ligand Pharmaceuticals Incorponew | +$4M |
Top sells this quarter · 15
| CWAN Clearwater Analytics Holdings,exit | −$24M |
| ROK Rockwell Automation, Inc. | −$13M |
| SAIA Saia, Inc. | −$10M |
| APH Amphenol Corporation | −$9M |
| SMTC Semtech Corporation | −$8M |
| HCSG Healthcare Services Group, Inc | −$8M |
| PFSI PennyMac Financial Services, I | −$7M |
| SPGI S&P Global Inc.exit | −$6M |
| ROP Roper Technologies, Inc. | −$6M |
| CAKE The Cheesecake Factory Incorpo | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.81B | 250 | +7.35% | +17.59% | -10.24% | -0.17B |
| 2025-12-31 | $3.04B | 254 | +2.11% | +17.72% | -15.61% | -0.24B |
| 2025-09-30 | $3.29B | 234 | +4.15% | +17.52% | -13.37% | +0.01B |
| 2025-06-30 | $3.13B | 224 | +7.10% | +14.94% | -7.84% | -0.11B |
| 2025-03-31 | $3.09B | 217 | -0.65% | +8.30% | -8.95% | -0.02B |
| 2024-12-31 | $3.34B | 219 | +13.51% | +24.89% | -11.38% | -0.08B |
| 2024-09-30 | $3.36B | 223 | +24.94% | +36.04% | -11.10% | -0.17B |
| 2024-06-30 | $3.27B | 228 | +11.86% | +24.49% | -12.63% | -0.03B |
| 2024-03-31 | $3.39B | 215 | +17.85% | +29.62% | -11.77% | -0.15B |
| 2023-12-31 | $3.33B | 218 | +15.11% | +26.18% | -11.07% | -0.22B |
| 2023-09-30 | $3.17B | 219 | +12.15% | +21.57% | -9.41% | -0.02B |
| 2023-06-30 | $3.30B | 218 | +10.52% | +19.42% | -8.90% | +0.03B |
| 2023-03-31 | $3.18B | 225 | -7.50% | -7.82% | +0.32% | -0.06B |
| 2022-12-31 | $3.12B | 234 | -14.87% | -18.17% | +3.30% | -0.02B |
| 2022-09-30 | $2.88B | 233 | -13.34% | -15.51% | +2.17% | -0.06B |
| 2022-06-30 | $3.09B | 239 | -8.48% | -10.62% | +2.14% | +0.01B |