Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.39%
baseline attrition
Rally response
-5.91%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BOKFBOK Financial Corporatio | $431M | 48.8% | +25.7% | 10.5 yr |
| EEExcelerate Energy, Inc. | $262M | 29.7% | +17.8% | 4.0 yr |
| BILState Street SPDR Bloomb | $45M | 5.1% | — | 0.3 yr |
| SPYState Street SPDR S&P 50 | $26M | 2.9% | +17.6% | 1.3 yr |
| SGOViShares 0-3 Month Treasu | $25M | 2.9% | — | 0.3 yr |
| IWLiShares Russell Top 200 | $22M | 2.4% | — | 1.3 yr |
| ASPNAspen Aerogels, Inc. | $11M | 1.2% | -46.5% | 10.5 yr |
| JBLJabil Inc. | $7M | 0.8% | +95.5% | 3.3 yr |
| TDGTransDigm Group Incorpor | $4M | 0.4% | -10.5% | 1.3 yr |
| INTAIntapp, Inc. | $4M | 0.4% | -56.0% | 2.8 yr |
| FROGJFrog Ltd. | $4M | 0.4% | +46.7% | 3.3 yr |
| PCORProcore Technologies, In | $3M | 0.3% | -13.7% | 1.8 yr |
| NOWServiceNow, Inc. | $3M | 0.3% | -34.3% | 5.8 yr |
| TYLTyler Technologies, Inc. | $3M | 0.3% | -41.1% | 5.8 yr |
| TWTradeweb Markets Inc. | $3M | 0.3% | -20.4% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Banks - Regional48.8%-2.7pp$431M
Renewable Utilities29.7%-3.4pp$262M
Asset Management10.5%+6.5pp$93M
Asset Management - Bonds2.9%$25M
Software - Application2.4%-1.9pp$21M
Construction1.3%-1.7pp$11M
Hardware, Equipment & Parts0.8%+0.1pp$7M
Semiconductors0.6%+0.3pp$5M
Aerospace & Defense0.5%+0.4pp$4M
Internet Content & Information0.3%+0.2pp$3M
Country
US99.3%+0.5pp
CA0.2%-0.3pp
IL0.2%-0.3pp
IE0.1%+0.0pp
TW0.1%+0.1pp
GB0.1%+0.0pp
UY0.0%-0.0pp
Top 5: 89.4% · Top 10: 94.7% · Top 25: 97.9%
Top buys this quarter · 13
| CLBT Cellebrite DI Ltd.new | +$1M |
| TYL Tyler Technologies, Inc. | +$1M |
| INTA Intapp, Inc. | +$4M |
| MXCT MaxCyte, Inc.new | +$0M |
| DSGX The Descartes Systems Group In | +$0M |
| HURC Hurco Companies, Inc. | +$0M |
| TDG TransDigm Group Incorporated | +$4M |
| PCOR Procore Technologies, Inc. | +$3M |
| NOW ServiceNow, Inc. | +$3M |
| TW Tradeweb Markets Inc. | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $883M | 71 | +17.42% | +17.59% | -0.17% | +0.06B |
| 2025-12-31 | $747M | 67 | +2.68% | +17.72% | -15.04% | -0.01B |
| 2025-09-30 | $713M | 68 | +1.00% | +17.52% | -16.52% | -0.00B |
| 2025-06-30 | $694M | 68 | +14.03% | +14.94% | -0.91% | +0.02B |
| 2025-03-31 | $680M | 68 | +24.69% | +8.30% | +16.39% | +0.03B |
| 2024-12-31 | $679M | 17 | +39.59% | +24.89% | +14.70% | -0.00B |
| 2024-09-30 | $654M | 17 | +44.50% | +36.04% | +8.46% | -0.00B |
| 2024-06-30 | $566M | 18 | +17.45% | +24.49% | -7.04% | +0.00B |
| 2024-03-31 | $523M | 17 | +5.55% | +29.62% | -24.07% | -0.00B |
| 2023-12-31 | $489M | 18 | -15.29% | +26.18% | -41.46% | -0.07B |
| 2023-09-30 | $524M | 40 | -11.15% | +21.57% | -32.71% | -0.03B |
| 2023-06-30 | $592M | 44 | +6.74% | +19.42% | -12.68% | -0.01B |
| 2023-03-31 | $619M | 45 | -25.09% | -7.82% | -17.28% | +0.04B |
| 2022-12-31 | $673M | 41 | +12.76% | +7.56% | +5.20% | +0.03B |
| 2022-09-30 | $568M | 42 | +13.41% | -4.93% | +18.34% | -0.07B |
| 2022-06-30 | $559M | 46 | -31.90% | -16.11% | -15.79% | +0.14B |