Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.19%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.43%
baseline attrition
Rally response
-1.93%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GRMNGarmin Ltd. | $309M | 6.3% | +8.6% | 10.3 yr |
| PLXSPlexus Corp. | $303M | 6.2% | +58.1% | 10.3 yr |
| PEverpure, Inc. | $276M | 5.6% | +33.4% | 6.8 yr |
| EXEExpand Energy Corporatio | $261M | 5.3% | +1.7% | 1.5 yr |
| VSATViasat, Inc. | $259M | 5.3% | +339.5% | 10.3 yr |
| CTRACoterra Energy Inc. | $225M | 4.6% | +25.8% | 6.8 yr |
| ANETArista Networks, Inc. | $222M | 4.6% | +58.5% | 1.5 yr |
| CGNXCognex Corporation | $212M | 4.3% | +65.5% | 10.3 yr |
| AKAMAkamai Technologies, Inc | $191M | 3.9% | +42.7% | 10.3 yr |
| SMTCSemtech Corporation | $170M | 3.5% | +123.5% | 4.0 yr |
| IDCCInterDigital, Inc. | $168M | 3.4% | +47.2% | 5.3 yr |
| PRLBProto Labs, Inc. | $142M | 2.9% | +62.7% | 9.3 yr |
| ALRMAlarm.com Holdings, Inc. | $141M | 2.9% | -22.4% | 6.3 yr |
| ALGNAlign Technology, Inc. | $133M | 2.7% | +7.9% | 10.3 yr |
| SMCISuper Micro Computer, In | $114M | 2.3% | -33.5% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts16.8%+3.2pp$823M
Software - Application13.3%-0.8pp$651M
Oil & Gas Exploration & Production9.9%-0.4pp$485M
Industrial - Machinery9.4%+1.2pp$461M
Semiconductors8.6%+0.8pp$419M
Computer Hardware6.9%-1.6pp$336M
Communication Equipment5.8%+3.8pp$282M
Software - Infrastructure4.8%+1.2pp$236M
Medical - Devices3.9%-0.4pp$192M
Manufacturing - Miscellaneous2.9%+1.0pp$142M
Country
US90.2%-0.6pp
CH6.3%-0.0pp
Unknown1.7%-0.0pp
IL1.5%+0.7pp
BE0.1%-0.1pp
LU0.1%
Top 5: 28.8% · Top 10: 49.6% · Top 25: 82.3%
Top buys this quarter · 8
| DT Dynatrace, Inc.new | +$24M |
| MNDY monday.com Ltd. | +$23M |
| GTLB GitLab Inc.new | +$20M |
| ZETA Zeta Global Holdings Corp. | +$98M |
| YETI YETI Holdings, Inc. | +$6M |
| DV DoubleVerify Holdings, Inc. | +$37M |
| LGIH LGI Homes, Inc. | +$29M |
| SSTI SoundThinking, Inc. | +$1M |
Top sells this quarter · 15
| SMCI Super Micro Computer, Inc. | −$106M |
| SMTC Semtech Corporation | −$46M |
| MCHP Microchip Technology Incorpora | −$35M |
| PLXS Plexus Corp. | −$234M |
| EXE Expand Energy Corporation | −$19M |
| ANET Arista Networks, Inc. | −$17M |
| CGNX Cognex Corporation | −$167M |
| GRMN Garmin Ltd. | −$284M |
| IDCC InterDigital, Inc. | −$16M |
| P Everpure, Inc. | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.89B | 61 | +14.24% | +17.59% | -3.35% | -0.39B |
| 2025-12-31 | $5.22B | 61 | +0.65% | +17.72% | -17.07% | +0.12B |
| 2025-09-30 | $5.52B | 64 | +14.96% | +17.52% | -2.56% | -0.27B |
| 2025-06-30 | $5.23B | 64 | +6.22% | +14.94% | -8.72% | -0.10B |
| 2025-03-31 | $4.83B | 64 | -6.70% | +8.30% | -15.01% | +0.15B |
| 2024-12-31 | $5.26B | 65 | +8.86% | +24.89% | -16.02% | -0.33B |
| 2024-09-30 | $5.29B | 69 | +15.14% | +36.04% | -20.90% | -0.14B |
| 2024-06-30 | $5.31B | 66 | +3.70% | +24.49% | -20.79% | -0.00B |
| 2024-03-31 | $5.48B | 68 | +17.10% | +29.62% | -12.52% | +0.72B |
| 2023-12-31 | $4.58B | 63 | +25.08% | +26.18% | -1.10% | -0.12B |
| 2023-09-30 | $4.20B | 65 | +19.51% | +21.57% | -2.06% | +0.12B |
| 2023-06-30 | $4.43B | 64 | +18.38% | +19.42% | -1.04% | +0.16B |
| 2023-03-31 | $3.90B | 67 | -42.41% | -7.82% | -34.60% | -0.43B |
| 2022-12-31 | $3.90B | 69 | +6.84% | +7.56% | -0.72% | +0.06B |
| 2022-09-30 | $3.60B | 72 | -8.80% | -4.93% | -3.87% | +0.21B |
| 2022-06-30 | $3.72B | 75 | -46.74% | -16.11% | -30.63% | +1.26B |