Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.60%
trims when stocks drop
when a holding falls −10%+
Middle response
+3.67%
steady accumulation
Rally response
-1.89%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| JKHYJack Henry & Associates, | $863M | 2.5% | -12.2% | 10.5 yr |
| PRIPrimerica, Inc. | $769M | 2.3% | -10.5% | 10.5 yr |
| TTCThe Toro Company | $740M | 2.2% | +30.4% | 10.5 yr |
| TDYTeledyne Technologies In | $726M | 2.1% | +21.6% | 10.5 yr |
| RBCRBC Bearings Incorporate | $719M | 2.1% | +68.8% | 10.5 yr |
| IBKRInteractive Brokers Grou | $672M | 2.0% | +62.8% | 9.3 yr |
| SSDSimpson Manufacturing Co | $667M | 2.0% | +9.8% | 6.8 yr |
| WTSWatts Water Technologies | $618M | 1.8% | +43.4% | 5.8 yr |
| POOLPool Corporation | $577M | 1.7% | -35.2% | 10.5 yr |
| FCNFTI Consulting, Inc. | $576M | 1.7% | +7.7% | 5.5 yr |
| GOLFAcushnet Holdings Corp. | $554M | 1.6% | +37.8% | 6.3 yr |
| LSTRLandstar System, Inc. | $550M | 1.6% | +9.5% | 10.5 yr |
| NDSNNordson Corporation | $544M | 1.6% | +33.7% | 10.5 yr |
| ALLEAllegion plc | $528M | 1.6% | +12.9% | 6.3 yr |
| EMEEMCOR Group, Inc. | $522M | 1.5% | +100.2% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Industrial - Machinery7.9%+1.0pp$2.69B
Asset Management5.2%+1.7pp$1.76B
Manufacturing - Tools & Accessories4.6%+1.4pp$1.57B
Construction4.4%+0.2pp$1.50B
Hardware, Equipment & Parts4.4%+0.4pp$1.49B
Industrial - Distribution4.1%-0.5pp$1.40B
Consulting Services3.7%-0.8pp$1.26B
Financial - Capital Markets3.6%-0.7pp$1.22B
Software - Application3.5%-3.4pp$1.19B
Banks - Regional3.5%+0.2pp$1.18B
Country
US96.3%+0.1pp
IE1.8%-0.1pp
GB0.7%-0.2pp
CA0.3%+0.0pp
Unknown0.2%+0.1pp
CN0.2%+0.1pp
UY0.2%-0.1pp
FR0.1%+0.0pp
Top 5: 11.2% · Top 10: 20.3% · Top 25: 42.2%
Top buys this quarter · 15
| POOL Pool Corporation | +$221M |
| ALGN Align Technology, Inc. | +$196M |
| CHRW C.H. Robinson Worldwide, Inc.new | +$107M |
| BFAM Bright Horizons Family Solutio | +$90M |
| TTAN ServiceTitan, Inc. | +$309M |
| BRC Brady Corporationnew | +$78M |
| HLNE Hamilton Lane Incorporated | +$339M |
| HWKN Hawkins, Inc. | +$58M |
| GCT GigaCloud Technology Inc. | +$52M |
| NYT The New York Times Companynew | +$50M |
Top sells this quarter · 15
| BSY Bentley Systems, Incorporated | −$204M |
| LPLA LPL Financial Holdings Inc. | −$186M |
| DPZ Domino's Pizza, Inc. | −$132M |
| OS OneStream, Inc. Class A Common | −$117M |
| CHE Chemed Corporation | −$106M |
| IBKR Interactive Brokers Group, Inc | −$80M |
| TDY Teledyne Technologies Incorpor | −$680M |
| JKHY Jack Henry & Associates, Inc. | −$63M |
| EFX Equifax Inc. | −$62M |
| WRB W. R. Berkley Corporation | −$62M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $34.05B | 952 | -2.08% | +17.59% | -19.67% | -1.89B |
| 2025-12-31 | $37.26B | 1006 | -4.02% | +17.72% | -21.73% | -2.67B |
| 2025-09-30 | $41.03B | 1027 | -3.51% | +17.52% | -21.03% | -0.91B |
| 2025-06-30 | $41.90B | 1090 | +6.49% | +14.94% | -8.45% | -0.69B |
| 2025-03-31 | $40.86B | 959 | -3.39% | +8.30% | -11.69% | -0.24B |
| 2024-12-31 | $43.48B | 982 | +9.87% | +24.89% | -15.02% | -0.85B |
| 2024-09-30 | $45.31B | 976 | +26.03% | +36.04% | -10.01% | +0.05B |
| 2024-06-30 | $40.97B | 991 | +10.82% | +24.49% | -13.67% | +0.18B |
| 2024-03-31 | $43.14B | 950 | +25.76% | +29.62% | -3.87% | +0.17B |
| 2023-12-31 | $39.97B | 956 | +26.64% | +26.18% | +0.46% | +0.62B |
| 2023-09-30 | $35.06B | 880 | +21.28% | +21.57% | -0.29% | +0.48B |
| 2023-06-30 | $35.60B | 876 | +20.23% | +19.42% | +0.81% | -0.91B |
| 2023-03-31 | $34.02B | 780 | -4.67% | -7.82% | +3.15% | -0.69B |
| 2022-12-31 | $32.06B | 672 | -16.01% | -18.17% | +2.17% | -0.34B |
| 2022-09-30 | $30.15B | 635 | -13.20% | -15.51% | +2.31% | -0.36B |
| 2022-06-30 | $31.68B | 596 | -9.35% | -10.62% | +1.27% | -0.32B |