Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.47%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.40%
baseline attrition
Rally response
-8.60%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AEISAdvanced Energy Industri | $194M | 1.7% | +239.4% | 2.0 yr |
| MTSIMACOM Technology Solutio | $186M | 1.6% | +121.2% | 10.3 yr |
| RBCRBC Bearings Incorporate | $153M | 1.3% | +68.8% | 10.5 yr |
| ITTITT Inc. | $152M | 1.3% | +48.7% | 4.3 yr |
| SPXCSPX Technologies, Inc. | $135M | 1.2% | +55.3% | 3.8 yr |
| FIXComfort Systems USA, Inc | $132M | 1.2% | +329.0% | 5.5 yr |
| GMEDGlobus Medical, Inc. | $129M | 1.1% | +17.7% | 10.5 yr |
| APGAPi Group Corporation | $126M | 1.1% | +70.0% | 2.3 yr |
| STRLSterling Infrastructure, | $124M | 1.1% | +259.7% | 2.0 yr |
| LOPEGrand Canyon Education, | $123M | 1.1% | -1.7% | 10.5 yr |
| BURLBurlington Stores, Inc. | $110M | 1.0% | +36.5% | 10.5 yr |
| POWLPowell Industries, Inc. | $109M | 1.0% | +6.3% | 1.3 yr |
| TXRHTexas Roadhouse, Inc. | $106M | 0.9% | +0.7% | 10.5 yr |
| AVGOBroadcom Inc. | $104M | 0.9% | +86.0% | 8.3 yr |
| FSSFederal Signal Corporati | $104M | 0.9% | +47.8% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology7.5%+1.8pp$855M
Banks - Regional5.9%-0.2pp$670M
Industrial - Machinery5.7%+0.7pp$648M
Semiconductors5.4%+0.8pp$615M
Engineering & Construction4.2%+1.9pp$478M
Hardware, Equipment & Parts3.8%+2.7pp$433M
Oil & Gas Exploration & Production3.6%+0.3pp$407M
Medical - Devices3.5%-0.1pp$401M
Chemicals - Specialty3.0%-0.2pp$339M
Financial - Capital Markets2.9%+0.1pp$326M
Country
US93.8%+0.8pp
IE1.5%+0.6pp
CA1.3%-0.4pp
Unknown1.1%-0.6pp
GB0.6%-0.3pp
KY0.6%
TW0.3%
CH0.2%+0.1pp
Top 5: 7.2% · Top 10: 12.8% · Top 25: 26.1%
Top buys this quarter · 15
| PIPR Piper Sandler Companiesnew | +$70M |
| COHR Coherent, Inc.new | +$68M |
| FN Fabrinetnew | +$67M |
| CW Curtiss-Wright Corporation | +$43M |
| FSS Federal Signal Corporation | +$43M |
| TSM Taiwan Semiconductor Manufactu | +$36M |
| PLNT Planet Fitness, Inc.new | +$32M |
| SF Stifel Financial Corp. | +$97M |
| TXN Texas Instruments Incorporated | +$30M |
| SPXC SPX Technologies, Inc. | +$30M |
Top sells this quarter · 15
| MTSI MACOM Technology Solutions Hol | −$84M |
| TPH Tri Pointe Homes, Inc. | −$64M |
| LITE Lumentum Holdings Inc. | −$58M |
| RBC RBC Bearings Incorporated | −$45M |
| BFAM Bright Horizons Family Solutio | −$42M |
| PNFP Pinnacle Financial Partners, Iexit | −$39M |
| WSO Watsco, Inc. | −$39M |
| MRK Merck & Co., Inc. | −$34M |
| THR Thermon Group Holdings, Inc. | −$34M |
| ADC Agree Realty Corporation | −$26M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $11.34B | 1013 | +16.26% | +17.59% | -1.33% | -0.23B |
| 2025-12-31 | $11.56B | 991 | +7.87% | +17.72% | -9.85% | +0.03B |
| 2025-09-30 | $11.30B | 992 | +6.46% | +17.52% | -11.05% | -0.71B |
| 2025-06-30 | $11.17B | 985 | +6.61% | +14.94% | -8.33% | -0.26B |
| 2025-03-31 | $10.79B | 1004 | -2.74% | +8.30% | -11.04% | -0.12B |
| 2024-12-31 | $11.76B | 967 | +13.20% | +24.89% | -11.68% | -0.01B |
| 2024-09-30 | $11.68B | 955 | +26.03% | +36.04% | -10.01% | -0.10B |
| 2024-06-30 | $10.94B | 935 | +12.33% | +24.49% | -12.16% | -0.02B |
| 2024-03-31 | $11.34B | 917 | +20.96% | +29.62% | -8.66% | -0.24B |
| 2023-12-31 | $10.72B | 925 | +17.16% | +26.18% | -9.02% | -0.43B |
| 2023-09-30 | $9.95B | 908 | +13.97% | +21.57% | -7.60% | -0.17B |
| 2023-06-30 | $10.54B | 897 | +14.72% | +19.42% | -4.70% | -0.21B |
| 2023-03-31 | $10.33B | 458 | -6.24% | -7.82% | +1.58% | +0.01B |
| 2022-12-31 | $9.86B | 452 | -14.53% | -18.17% | +3.64% | -0.02B |
| 2022-09-30 | $9.06B | 395 | -12.46% | -15.51% | +3.05% | +0.10B |
| 2022-06-30 | $9.27B | 830 | -9.15% | -10.62% | +1.47% | -0.27B |