Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-11.85%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.36%
baseline attrition
Rally response
-7.98%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| APHAmphenol Corporation | $16M | 4.3% | +93.6% | 10.5 yr |
| ORLYO'Reilly Automotive, Inc | $13M | 3.5% | -3.4% | 10.5 yr |
| FLEXFlex Ltd. | $12M | 3.3% | +97.9% | 5.5 yr |
| USFDUS Foods Holding Corp. | $12M | 3.2% | +40.9% | 7.3 yr |
| THCTenet Healthcare Corpora | $9M | 2.6% | +40.3% | 4.3 yr |
| AMZNAmazon.com, Inc. | $9M | 2.5% | +9.5% | 3.8 yr |
| METAMeta Platforms, Inc. | $9M | 2.4% | -0.4% | 2.5 yr |
| MODModine Manufacturing Com | $8M | 2.3% | +182.4% | 4.8 yr |
| PFGCPerformance Food Group C | $8M | 2.3% | +8.9% | 8.8 yr |
| VRTVertiv Holdings Co | $8M | 2.2% | +247.5% | 5.5 yr |
| TMOThermo Fisher Scientific | $8M | 2.1% | -0.9% | 10.5 yr |
| TTMITTM Technologies, Inc. | $8M | 2.1% | +375.0% | 1.8 yr |
| GOOGAlphabet Inc. | $7M | 2.0% | +84.3% | 2.0 yr |
| CONConcentra Group Holdings | $7M | 2.0% | +0.0% | 0.5 yr |
| VSECVSE Corporation | $6M | 1.8% | +54.1% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts17.2%+9.0pp$63M
Specialty Retail6.7%-0.9pp$25M
Food Distribution5.5%+0.6pp$20M
Internet Content & Information4.7%+1.8pp$17M
Semiconductors4.3%+1.9pp$16M
Waste Management4.0%+0.2pp$15M
Electrical Equipment & Parts3.7%+2.3pp$14M
Medical - Care Facilities3.7%-0.8pp$13M
Medical - Diagnostics & Research3.6%-0.3pp$13M
Industrial - Machinery3.2%+1.5pp$12M
Country
US87.9%-2.1pp
SG3.3%+1.5pp
CA2.4%+0.2pp
Unknown2.3%+0.8pp
GB1.5%+0.8pp
NL1.4%+0.2pp
IE1.1%-1.0pp
IL0.1%-0.3pp
Top 5: 16.8% · Top 10: 28.6% · Top 25: 54.2%
Top buys this quarter · 15
| ITRI Itron, Inc.new | +$3M |
| HD The Home Depot, Inc. | +$2M |
| CON Concentra Group Holdings Paren | +$1M |
| WELL Welltower Inc. | +$1M |
| RRX Regal Rexnord Corporation | +$1M |
| CR Crane Company | +$1M |
| PTC PTC Inc. | +$1M |
| VNT Vontier Corporation | +$1M |
| DOCS Doximity, Inc. | +$1M |
| CACI CACI International Inc | +$1M |
Top sells this quarter · 15
| HEI HEICO Corporation | −$10M |
| VMC Vulcan Materials Companyexit | −$5M |
| AMG Affiliated Managers Group, Inc | −$5M |
| TRMB Trimble Inc.exit | −$5M |
| COHR Coherent, Inc. | −$4M |
| CDNL Cardinal Infrastructure Group | −$3M |
| WSBC WesBanco, Inc. | −$3M |
| TTI TETRA Technologies, Inc.exit | −$3M |
| GLW Corning Incorporated | −$6M |
| AVY Avery Dennison Corporationexit | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $364M | 82 | +27.88% | +17.59% | +10.29% | -0.06B |
| 2025-12-31 | $413M | 94 | +14.34% | +17.72% | -3.38% | -0.04B |
| 2025-09-30 | $450M | 100 | +12.88% | +17.52% | -4.64% | -0.03B |
| 2025-06-30 | $439M | 97 | +12.64% | +14.94% | -2.30% | -0.02B |
| 2025-03-31 | $410M | 95 | -3.83% | +8.30% | -12.14% | +0.02B |
| 2024-12-31 | $421M | 90 | +19.59% | +24.89% | -5.29% | -0.02B |
| 2024-09-30 | $438M | 79 | +34.08% | +36.04% | -1.95% | -0.03B |
| 2024-06-30 | $427M | 80 | +18.95% | +24.49% | -5.55% | -0.00B |
| 2024-03-31 | $448M | 76 | +35.96% | +29.62% | +6.34% | -0.03B |
| 2023-12-31 | $418M | 68 | +29.03% | +26.18% | +2.85% | -0.05B |
| 2023-09-30 | $422M | 72 | +26.16% | +21.57% | +4.60% | -0.00B |
| 2023-06-30 | $437M | 70 | +29.54% | +19.42% | +10.11% | -0.02B |
| 2023-03-31 | $418M | 73 | -0.94% | -7.82% | +6.87% | +0.04B |
| 2022-12-31 | $352M | 67 | +9.38% | +7.56% | +1.81% | -0.07B |
| 2022-09-30 | $387M | 70 | -0.50% | -4.93% | +4.43% | -0.02B |
| 2022-06-30 | $407M | 74 | -16.39% | -16.11% | -0.28% | +0.00B |