Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.81%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.87%
baseline attrition
Rally response
-4.12%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $103M | 8.0% | +60.9% | 7.5 yr |
| GOOGLAlphabet Inc. | $87M | 6.7% | — | 10.5 yr |
| AMZNAmazon.com, Inc. | $83M | 6.4% | +9.5% | 10.5 yr |
| MSFTMicrosoft Corporation | $74M | 5.7% | -0.6% | 10.5 yr |
| AVGOBroadcom Inc. | $65M | 5.1% | +86.0% | 1.8 yr |
| METAMeta Platforms, Inc. | $50M | 3.9% | -0.4% | 10.5 yr |
| APHAmphenol Corporation | $50M | 3.9% | +93.6% | 10.5 yr |
| AAPLApple Inc. | $44M | 3.4% | +14.7% | 10.5 yr |
| TJXThe TJX Companies, Inc. | $42M | 3.2% | +32.7% | 10.5 yr |
| MAMastercard Incorporated | $39M | 3.0% | -8.5% | 10.5 yr |
| ETNEaton Corporation plc | $38M | 2.9% | +33.2% | 0.8 yr |
| TMOThermo Fisher Scientific | $32M | 2.5% | -0.9% | 10.5 yr |
| MELIMercadoLibre, Inc. | $32M | 2.5% | -11.4% | 6.0 yr |
| AZOAutoZone, Inc. | $32M | 2.5% | -11.4% | 2.8 yr |
| ASMLASML Holding N.V. | $30M | 2.3% | +100.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.4%+6.9pp$211M
Specialty Retail11.4%+1.3pp$147M
Internet Content & Information10.9%+4.3pp$141M
Software - Infrastructure8.1%+1.8pp$105M
Financial - Credit Services4.6%-1.1pp$59M
Hardware, Equipment & Parts4.4%+1.4pp$57M
Consumer Electronics3.4%-1.7pp$44M
Apparel - Retail3.2%-0.1pp$42M
Financial - Data & Stock Exchanges3.2%+0.4pp$41M
Industrial - Machinery2.9%$38M
Country
US90.1%-3.6pp
IE2.9%+2.9pp
UY2.5%+0.6pp
NL2.4%+0.2pp
Unknown0.7%+0.3pp
TW0.5%+0.4pp
IT0.3%
CA0.3%-0.3pp
Top 5: 31.9% · Top 10: 49.3% · Top 25: 79.3%
Top buys this quarter · 15
| PANW Palo Alto Networks, Inc.new | +$13M |
| ETN Eaton Corporation plc | +$8M |
| AVGO Broadcom Inc. | +$65M |
| TSM Taiwan Semiconductor Manufactu | +$6M |
| MSFT Microsoft Corporation | +$74M |
| INTU Intuit Inc. | +$25M |
| MELI MercadoLibre, Inc. | +$32M |
| VST Vistra Corp. | +$4M |
| BJ BJ's Wholesale Club Holdings, | +$3M |
| META Meta Platforms, Inc. | +$50M |
Top sells this quarter · 15
| LECO Lincoln Electric Holdings, Inc | −$68M |
| ASML ASML Holding N.V. | −$22M |
| CPRT Copart, Inc.exit | −$18M |
| AAPL Apple Inc. | −$17M |
| TJX The TJX Companies, Inc. | −$16M |
| APH Amphenol Corporation | −$9M |
| ADSK Autodesk, Inc. | −$7M |
| AMZN Amazon.com, Inc. | −$6M |
| SPY State Street SPDR S&P 500 ETF | −$6M |
| LMT Lockheed Martin Corporation | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.29B | 100 | +4.34% | +17.59% | -13.25% | -0.06B |
| 2025-12-31 | $1.50B | 96 | +10.54% | +17.72% | -7.18% | -0.28B |
| 2025-09-30 | $1.80B | 97 | +11.86% | +17.52% | -5.66% | -0.06B |
| 2025-06-30 | $1.76B | 94 | +11.36% | +14.94% | -3.59% | +0.05B |
| 2025-03-31 | $1.54B | 88 | +1.95% | +8.30% | -6.35% | -0.06B |
| 2024-12-31 | $1.68B | 94 | +12.24% | +24.89% | -12.65% | -0.01B |
| 2024-09-30 | $1.68B | 92 | +27.89% | +36.04% | -8.15% | +0.01B |
| 2024-06-30 | $1.59B | 89 | +17.14% | +24.49% | -7.35% | -0.05B |
| 2024-03-31 | $1.62B | 92 | +24.49% | +29.62% | -5.13% | -0.01B |
| 2023-12-31 | $1.55B | 95 | +29.69% | +26.18% | +3.52% | -0.04B |
| 2023-09-30 | $1.39B | 85 | +21.01% | +21.57% | -0.55% | -0.01B |
| 2023-06-30 | $1.46B | 89 | +17.70% | +19.42% | -1.73% | -0.01B |
| 2023-03-31 | $1.36B | 88 | -10.08% | -7.82% | -2.26% | -0.07B |
| 2022-12-31 | $1.31B | 90 | -21.77% | -18.17% | -3.59% | -0.06B |
| 2022-09-30 | $1.28B | 81 | -5.49% | -15.51% | +10.01% | +0.00B |
| 2022-06-30 | $1.36B | 84 | -17.79% | -16.11% | -1.67% | -0.04B |