Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.28%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.68%
baseline attrition
Rally response
-9.08%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EMEEMCOR Group, Inc. | $156M | 2.7% | +100.2% | 10.5 yr |
| MPWRMonolithic Power Systems | $152M | 2.6% | +89.6% | 8.0 yr |
| ABCAmerisourceBergen Corpor | $133M | 2.3% | — | 6.3 yr |
| LSCCLattice Semiconductor Co | $127M | 2.2% | +76.9% | 2.3 yr |
| CRSCarpenter Technology Cor | $116M | 2.0% | +118.3% | 1.0 yr |
| CWCurtiss-Wright Corporati | $112M | 1.9% | +115.0% | 1.8 yr |
| LNGCheniere Energy, Inc. | $109M | 1.9% | +23.8% | 4.5 yr |
| FIXComfort Systems USA, Inc | $102M | 1.8% | +329.0% | 2.5 yr |
| KRMNKarman Holdings Inc. | $101M | 1.7% | +139.5% | 1.3 yr |
| FROGJFrog Ltd. | $98M | 1.7% | +46.7% | 5.8 yr |
| IBKRInteractive Brokers Grou | $97M | 1.7% | +62.8% | 4.8 yr |
| IDXXIDEXX Laboratories, Inc. | $92M | 1.6% | +33.8% | 4.0 yr |
| ROSTRoss Stores, Inc. | $90M | 1.6% | +71.2% | 7.0 yr |
| RRXRegal Rexnord Corporatio | $88M | 1.5% | +65.7% | 4.5 yr |
| AXONAxon Enterprise, Inc. | $87M | 1.5% | -19.3% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors8.9%+4.3pp$518M
Software - Application8.1%-8.3pp$469M
Aerospace & Defense7.2%+2.0pp$418M
Engineering & Construction5.8%+2.5pp$339M
Biotechnology4.8%+1.2pp$279M
Specialty Retail3.5%+0.5pp$206M
Industrial - Machinery3.5%+0.3pp$202M
Oil & Gas Midstream3.4%+0.6pp$196M
Manufacturing - Metal Fabrication3.1%+1.6pp$181M
Medical - Distribution3.0%+0.9pp$173M
Country
US91.0%+2.7pp
Unknown2.6%+1.5pp
CA2.4%+0.1pp
IL1.1%-2.7pp
NL1.0%-0.4pp
IT0.8%-0.3pp
GB0.4%-0.1pp
BR0.4%+0.0pp
Top 5: 11.8% · Top 10: 20.8% · Top 25: 41.6%
Top buys this quarter · 15
| PANW Palo Alto Networks, Inc. | +$83M |
| VRT Vertiv Holdings Conew | +$57M |
| MKSI MKS Inc. | +$49M |
| CCJ Cameco Corporationnew | +$42M |
| LYV Live Nation Entertainment, Incnew | +$37M |
| FIX Comfort Systems USA, Inc. | +$31M |
| RMBS Rambus Inc.new | +$27M |
| PIPR Piper Sandler Companiesnew | +$24M |
| TTWO Take-Two Interactive Software, | +$22M |
| MTSI MACOM Technology Solutions Hol | +$21M |
Top sells this quarter · 15
| OS OneStream, Inc. Class A Commonexit | −$64M |
| HUBS HubSpot, Inc.exit | −$53M |
| PR Permian Resources Corporationexit | −$48M |
| PINS Pinterest, Inc.exit | −$37M |
| CWAN Clearwater Analytics Holdings, | −$31M |
| EME EMCOR Group, Inc. | −$153M |
| ESAB ESAB Corporation | −$27M |
| KRMN Karman Holdings Inc. | −$27M |
| NCLH Norwegian Cruise Line Holdings | −$25M |
| CDNL Cardinal Infrastructure Group exit | −$24M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.80B | 150 | +11.49% | +17.59% | -6.10% | -0.42B |
| 2025-12-31 | $6.55B | 147 | +8.35% | +17.72% | -9.37% | -0.29B |
| 2025-09-30 | $6.93B | 155 | +12.11% | +17.52% | -5.41% | -0.29B |
| 2025-06-30 | $6.85B | 144 | +11.22% | +14.94% | -3.73% | -0.07B |
| 2025-03-31 | $6.13B | 141 | -4.61% | +8.30% | -12.92% | -0.16B |
| 2024-12-31 | $6.82B | 152 | +12.66% | +24.89% | -12.23% | +0.03B |
| 2024-09-30 | $6.64B | 153 | +23.62% | +36.04% | -12.42% | -0.01B |
| 2024-06-30 | $6.36B | 158 | +13.91% | +24.49% | -10.58% | -0.29B |
| 2024-03-31 | $6.88B | 162 | +25.49% | +29.62% | -4.14% | -0.53B |
| 2023-12-31 | $6.80B | 158 | +24.26% | +26.18% | -1.92% | -0.40B |
| 2023-09-30 | $6.42B | 157 | +16.87% | +21.57% | -4.69% | -0.30B |
| 2023-06-30 | $6.98B | 173 | +22.11% | +19.42% | +2.69% | -0.32B |
| 2023-03-31 | $6.84B | 177 | -6.89% | -7.82% | +0.93% | -0.74B |
| 2022-12-31 | $7.03B | 177 | +5.47% | +7.56% | -2.09% | -0.51B |
| 2022-09-30 | $7.15B | 187 | +0.69% | -4.93% | +5.62% | -0.03B |
| 2022-06-30 | $7.13B | 187 | -18.73% | -16.11% | -2.62% | -0.09B |