Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.59%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.18%
baseline attrition
Rally response
-14.62%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| REGNRegeneron Pharmaceutical | $66M | 3.0% | +22.5% | 6.8 yr |
| JPMJPMorgan Chase & Co. | $66M | 3.0% | +21.8% | 10.3 yr |
| MTCHMatch Group, Inc. | $65M | 3.0% | +0.1% | 1.8 yr |
| LKQLKQ Corporation | $64M | 3.0% | -28.4% | 5.5 yr |
| UTHRUnited Therapeutics Corp | $62M | 2.9% | +92.4% | 3.3 yr |
| ALSNAllison Transmission Hol | $61M | 2.8% | +23.8% | 7.0 yr |
| EXPEExpedia Group, Inc. | $59M | 2.7% | +38.5% | 3.0 yr |
| GSThe Goldman Sachs Group, | $57M | 2.6% | +58.1% | 3.3 yr |
| QCOMQUALCOMM Incorporated | $56M | 2.6% | -14.2% | 7.8 yr |
| WFCWells Fargo & Company | $54M | 2.5% | +13.3% | 9.0 yr |
| NTAPNetApp, Inc. | $50M | 2.3% | +18.4% | 8.5 yr |
| BRK-BBerkshire Hathaway Inc. | $50M | 2.3% | — | 10.5 yr |
| CICigna Corporation | $49M | 2.3% | -17.2% | 4.0 yr |
| CSCOCisco Systems, Inc. | $48M | 2.2% | +28.1% | 10.5 yr |
| AYIAcuity Brands, Inc. | $48M | 2.2% | +6.7% | 7.8 yr |
Portfolio composition (YoY)
Industry mix
Auto - Parts8.1%+2.3pp$176M
Biotechnology7.4%+2.5pp$160M
Software - Application7.0%+4.5pp$152M
Medical - Healthcare Plans6.1%-0.9pp$132M
Internet Content & Information5.8%+2.3pp$126M
Banks - Diversified5.5%-2.2pp$120M
Software - Infrastructure5.1%-2.5pp$110M
Financial - Credit Services4.6%+0.7pp$100M
Drug Manufacturers - General4.5%-2.5pp$99M
Semiconductors3.0%+0.4pp$64M
Country
US97.3%+0.4pp
IL0.6%-1.0pp
CH0.5%+0.3pp
BM0.3%+0.1pp
KY0.2%+0.1pp
AE0.2%
Unknown0.2%+0.2pp
FR0.2%-0.0pp
Top 5: 14.9% · Top 10: 28.1% · Top 25: 59.7%
Top buys this quarter · 15
| ZM Zoom Communications, Inc. | +$40M |
| GNTX Gentex Corporation | +$37M |
| SNA Snap-on Incorporated | +$34M |
| PHM PulteGroup, Inc.new | +$30M |
| MTCH Match Group, Inc. | +$10M |
| EXPE Expedia Group, Inc. | +$59M |
| SSNC SS&C Technologies Holdings, In | +$38M |
| ADBE Adobe Inc. | +$44M |
| ENS EnerSys | +$5M |
| FTDR Frontdoor, Inc.new | +$5M |
Top sells this quarter · 15
| AGCO AGCO Corporation | −$80M |
| WMT Walmart Inc. | −$37M |
| GS The Goldman Sachs Group, Inc. | −$25M |
| UTHR United Therapeutics Corporatio | −$24M |
| JNJ Johnson & Johnson | −$14M |
| RHI Robert Half International Inc.exit | −$13M |
| WFC Wells Fargo & Company | −$13M |
| SYY Sysco Corporation | −$10M |
| ALSN Allison Transmission Holdings, | −$59M |
| TROW T. Rowe Price Group, Inc.exit | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.17B | 169 | +8.34% | +17.59% | -9.25% | -0.05B |
| 2025-12-31 | $2.37B | 177 | +12.86% | +17.72% | -4.86% | -0.02B |
| 2025-09-30 | $2.31B | 169 | +10.59% | +17.52% | -6.93% | -0.09B |
| 2025-06-30 | $2.27B | 171 | +15.55% | +14.94% | +0.60% | -0.03B |
| 2025-03-31 | $2.18B | 155 | +7.93% | +8.30% | -0.38% | +0.01B |
| 2024-12-31 | $2.21B | 159 | +20.53% | +24.89% | -4.36% | -0.03B |
| 2024-09-30 | $2.21B | 164 | +32.72% | +36.04% | -3.32% | -0.00B |
| 2024-06-30 | $2.01B | 170 | +19.62% | +24.49% | -4.87% | -0.13B |
| 2024-03-31 | $2.17B | 175 | +25.32% | +29.62% | -4.31% | +0.01B |
| 2023-12-31 | $1.97B | 173 | +22.66% | +26.18% | -3.52% | -0.13B |
| 2023-09-30 | $1.89B | 168 | +19.97% | +21.57% | -1.60% | +0.04B |
| 2023-06-30 | $1.86B | 174 | +15.95% | +19.42% | -3.47% | -0.02B |
| 2023-03-31 | $1.82B | 173 | -2.38% | -7.82% | +5.44% | -0.22B |
| 2022-12-31 | $1.90B | 193 | +9.15% | +7.56% | +1.59% | -0.04B |
| 2022-09-30 | $1.77B | 184 | -4.05% | -4.93% | +0.88% | -0.04B |
| 2022-06-30 | $1.89B | 202 | -12.92% | -16.11% | +3.19% | -0.01B |