Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.17%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.14%
baseline attrition
Rally response
-6.45%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VRTVertiv Holdings Co | $245M | 11.7% | +247.5% | 6.3 yr |
| WCCWESCO International, Inc | $152M | 7.3% | +77.6% | 10.3 yr |
| ENSEnerSys | $136M | 6.5% | +91.3% | 6.8 yr |
| AZOAutoZone, Inc. | $134M | 6.4% | -11.4% | 10.5 yr |
| RPRXRoyalty Pharma plc | $126M | 6.0% | +57.7% | 2.3 yr |
| ESIElement Solutions Inc | $83M | 4.0% | +52.8% | 6.3 yr |
| ZBRAZebra Technologies Corpo | $76M | 3.6% | -26.0% | 10.5 yr |
| TMOThermo Fisher Scientific | $66M | 3.2% | -0.9% | 10.5 yr |
| 0YY7.LDigitalBridge Group, Inc | $61M | 2.9% | — | 3.8 yr |
| GTXGarrett Motion Inc. | $60M | 2.9% | +121.3% | 5.0 yr |
| FDXFedEx Corporation | $57M | 2.7% | +49.3% | 10.5 yr |
| BNBrookfield Corporation | $55M | 2.6% | +16.5% | 3.5 yr |
| MSMMSC Industrial Direct Co | $53M | 2.6% | +22.7% | 10.5 yr |
| VACMarriott Vacations World | $50M | 2.4% | +6.3% | 7.8 yr |
| OTEXOpen Text Corporation | $49M | 2.3% | -8.7% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Electrical Equipment & Parts18.3%+8.7pp$381M
Industrial - Distribution9.9%+2.5pp$206M
Specialty Retail6.4%-2.2pp$134M
Asset Management6.2%+1.3pp$129M
Biotechnology6.0%+1.7pp$126M
Software - Application5.7%-2.4pp$119M
Software - Infrastructure4.7%+0.0pp$98M
Auto - Parts4.4%+0.0pp$91M
Chemicals - Specialty4.3%+2.1pp$90M
Information Technology Services4.1%-4.9pp$85M
Country
US81.4%-2.5pp
CA8.5%+0.3pp
CH2.9%+1.2pp
Unknown2.3%+2.0pp
BS2.0%+0.2pp
IL1.5%-0.8pp
GB1.4%-0.4pp
Top 5: 38.0% · Top 10: 54.6% · Top 25: 85.7%
Top buys this quarter · 9
| VAC Marriott Vacations Worldwide C | +$25M |
| NICE NICE Ltd. | +$4M |
| CCSI Consensus Cloud Solutions, Inc | +$3M |
| GIB CGI Inc. | +$39M |
| SWK Stanley Black & Decker, Inc. | +$13M |
| — new | +$0M |
| — new | +$0M |
| IWN iShares Russell 2000 Value ETF | +$0M |
| IGSB iShares 1-5 Year Investment Gr | +$0M |
Top sells this quarter · 15
| VRT Vertiv Holdings Co | −$224M |
| ASGN ASGN Incorporatedexit | −$25M |
| WCC WESCO International, Inc. | −$151M |
| AZO AutoZone, Inc. | −$15M |
| RPRX Royalty Pharma plc | −$113M |
| HOLX Hologic, Inc.exit | −$12M |
| ENS EnerSys | −$124M |
| GTX Garrett Motion Inc. | −$7M |
| TMO Thermo Fisher Scientific Inc. | −$6M |
| ZBRA Zebra Technologies Corporation | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.09B | 51 | +24.83% | +17.59% | +7.24% | -0.24B |
| 2025-12-31 | $2.17B | 56 | +7.03% | +17.72% | -10.69% | -0.02B |
| 2025-09-30 | $2.19B | 57 | +6.59% | +17.52% | -10.93% | -0.02B |
| 2025-06-30 | $2.07B | 57 | +8.56% | +14.94% | -6.38% | -0.20B |
| 2025-03-31 | $2.07B | 63 | -6.05% | +8.30% | -14.36% | -0.10B |
| 2024-12-31 | $2.37B | 65 | +16.56% | +24.89% | -8.32% | -0.06B |
| 2024-09-30 | $2.45B | 62 | +31.76% | +36.04% | -4.28% | +0.01B |
| 2024-06-30 | $2.24B | 60 | +18.18% | +24.49% | -6.31% | -0.02B |
| 2024-03-31 | $2.39B | 60 | +36.33% | +29.62% | +6.71% | -0.22B |
| 2023-12-31 | $2.29B | 62 | +32.70% | +26.18% | +6.52% | -0.06B |
| 2023-09-30 | $2.09B | 60 | +32.16% | +21.57% | +10.59% | -0.11B |
| 2023-06-30 | $2.25B | 61 | +25.46% | +19.42% | +6.03% | -0.15B |
| 2023-03-31 | $2.20B | 61 | -4.01% | -7.82% | +3.81% | -0.21B |
| 2022-12-31 | $2.17B | 65 | +12.15% | +7.56% | +4.59% | -0.14B |
| 2022-09-30 | $2.07B | 62 | -7.23% | -4.93% | -2.30% | +0.04B |
| 2022-06-30 | $2.19B | 63 | -16.73% | -16.11% | -0.61% | -0.03B |