Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.29%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.59%
baseline attrition
Rally response
-1.46%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $297M | 12.6% | +84.3% | 10.5 yr |
| ANETArista Networks, Inc. | $243M | 10.3% | +58.5% | 1.5 yr |
| COSTCostco Wholesale Corpora | $238M | 10.1% | +5.9% | 9.0 yr |
| — | $236M | 10.0% | — | 10.0 yr |
| — | $236M | 10.0% | — | 10.0 yr |
| — | $223M | 9.5% | — | 10.0 yr |
| MSFTMicrosoft Corporation | $182M | 7.7% | -0.6% | 10.5 yr |
| MTDMettler-Toledo Internati | $176M | 7.5% | +6.8% | 10.5 yr |
| ADPAutomatic Data Processin | $137M | 5.8% | -31.8% | 10.5 yr |
| HDThe Home Depot, Inc. | $93M | 4.0% | -8.0% | 7.3 yr |
| DCIDonaldson Company, Inc. | $81M | 3.4% | +28.4% | 2.0 yr |
| QCOMQUALCOMM Incorporated | $67M | 2.9% | -14.2% | 5.0 yr |
| INTCIntel Corporation | $26M | 1.1% | +94.3% | 10.5 yr |
| AAPLApple Inc. | $19M | 0.8% | +14.7% | 10.5 yr |
| AMDAdvanced Micro Devices, | $17M | 0.7% | +98.0% | 4.3 yr |
Portfolio composition (YoY)
Industry mix
Unknown29.7%-0.8pp$698M
Internet Content & Information12.8%+3.6pp$301M
Computer Hardware10.3%+2.7pp$243M
Discount Stores10.2%-0.7pp$239M
Medical - Diagnostics & Research7.9%-0.5pp$185M
Software - Infrastructure7.7%-0.8pp$182M
Staffing & Employment Services5.8%-3.4pp$137M
Semiconductors4.8%-0.3pp$114M
Home Improvement4.0%-1.1pp$93M
Industrial - Machinery3.5%+0.5pp$82M
Country
US69.8%+0.4pp
Unknown29.7%-0.8pp
CA0.5%+0.4pp
TW0.0%
Top 5: 53.1% · Top 10: 87.6% · Top 25: 99.0%
Top buys this quarter · 9
| JEF Jefferies Financial Group Inc.new | +$3M |
| MSFT Microsoft Corporation | +$182M |
| AAPL Apple Inc. | +$2M |
| NVDA NVIDIA Corporation | +$0M |
| DHR Danaher Corporation | +$9M |
| KGC Kinross Gold Corporation | +$0M |
| JPM JPMorgan Chase & Co. | +$0M |
| IBM International Business Machine | +$1M |
| SHY iShares 1-3 Year Treasury Bond | +$0M |
Top sells this quarter · 15
| GOOG Alphabet Inc. | −$21M |
| XOM Exxon Mobil Corporation | −$8M |
| ADP Automatic Data Processing, Inc | −$4M |
| QCOM QUALCOMM Incorporated | −$4M |
| ANET Arista Networks, Inc. | −$4M |
| COST Costco Wholesale Corporation | −$208M |
| MTD Mettler-Toledo International I | −$3M |
| HD The Home Depot, Inc. | −$2M |
| DCI Donaldson Company, Inc. | −$1M |
| INTC Intel Corporation | −$22M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.35B | 62 | +17.64% | +17.59% | +0.05% | -0.06B |
| 2025-12-31 | $2.62B | 61 | +17.36% | +17.72% | -0.36% | -0.04B |
| 2025-09-30 | $2.61B | 60 | +18.46% | +17.52% | +0.94% | -0.18B |
| 2025-06-30 | $2.47B | 57 | +6.68% | +14.94% | -8.26% | -0.04B |
| 2025-03-31 | $2.26B | 56 | +2.96% | +8.30% | -5.34% | +0.11B |
| 2024-12-31 | $2.34B | 55 | +23.18% | +24.89% | -1.70% | -0.05B |
| 2024-09-30 | $2.32B | 55 | +35.55% | +36.04% | -0.49% | +0.04B |
| 2024-06-30 | $2.24B | 55 | +31.43% | +24.49% | +6.94% | -0.09B |
| 2024-03-31 | $2.18B | 56 | +27.11% | +29.62% | -2.52% | -0.06B |
| 2023-12-31 | $2.03B | 52 | +24.41% | +26.18% | -1.76% | +0.00B |
| 2023-09-30 | $1.80B | 52 | +17.23% | +21.57% | -4.33% | +0.00B |
| 2023-06-30 | $1.81B | 52 | +13.64% | +19.42% | -5.78% | +0.01B |
| 2023-03-31 | $1.74B | 51 | -5.91% | -7.82% | +1.91% | +0.03B |
| 2022-12-31 | $1.59B | 52 | -16.48% | -18.17% | +1.70% | -0.06B |
| 2022-09-30 | $1.55B | 52 | -12.94% | -15.51% | +2.57% | -0.03B |
| 2022-06-30 | $1.64B | 51 | -8.62% | -10.62% | +2.00% | -0.16B |