Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.28%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.38%
baseline attrition
Rally response
-6.13%
trims into rallies
when a holding rises +10%+
Top positions · 27
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VOOVanguard S&P 500 ETF | $265M | 30.5% | — | 1.5 yr |
| IEFAiShares Core MSCI EAFE E | $98M | 11.3% | — | 3.3 yr |
| IEMGiShares Core MSCI Emergi | $48M | 5.6% | — | 1.5 yr |
| AMZNAmazon.com, Inc. | $31M | 3.5% | +9.5% | 6.5 yr |
| GWREGuidewire Software, Inc. | $30M | 3.5% | -20.2% | 2.0 yr |
| TSMTaiwan Semiconductor Man | $28M | 3.3% | +105.6% | 1.0 yr |
| VEEVVeeva Systems Inc. | $27M | 3.1% | -24.2% | 1.0 yr |
| VVisa Inc. | $27M | 3.1% | -13.1% | 3.5 yr |
| XLVState Street Health Care | $25M | 2.9% | — | 2.0 yr |
| MTZMasTec, Inc. | $25M | 2.9% | +175.7% | 2.0 yr |
| — | $22M | 2.5% | — | 0.5 yr |
| MCOMoody's Corporation | $21M | 2.5% | -5.6% | 2.5 yr |
| MSFTMicrosoft Corporation | $21M | 2.4% | -0.6% | 6.3 yr |
| CRH.LCRH plc | $20M | 2.3% | — | 2.0 yr |
| SPGIS&P Global Inc. | $20M | 2.3% | -15.6% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management51.8%-9.1pp$448M
Software - Application5.6%+1.3pp$49M
Specialty Retail5.5%+0.5pp$47M
Semiconductors5.4%$47M
Financial - Data & Stock Exchanges4.7%+0.6pp$41M
Medical - Healthcare Information Services3.1%$27M
Financial - Credit Services3.1%+0.7pp$27M
Engineering & Construction2.9%+0.8pp$25M
Unknown2.5%+1.2pp$22M
Software - Infrastructure2.4%-0.8pp$21M
Country
US88.3%-5.0pp
IE4.0%+2.6pp
TW3.3%
Unknown2.5%+1.2pp
KR1.9%+0.0pp
Top 5: 54.4% · Top 10: 69.8% · Top 25: 99.4%
Top buys this quarter · 15
| NVDA NVIDIA Corporationnew | +$19M |
| JCI Johnson Controls Internationalnew | +$15M |
| GWRE Guidewire Software, Inc. | +$9M |
| VEEV Veeva Systems Inc. | +$7M |
| SPGI S&P Global Inc. | +$6M |
| PCOR Procore Technologies, Inc. | +$5M |
| MCO Moody's Corporation | +$5M |
| MDLN Medline Inc.new | +$4M |
| CPNG Coupang, Inc. | +$4M |
| V Visa Inc. | +$27M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $866M | 27 | +14.38% | +17.59% | -3.21% | +0.10B |
| 2025-12-31 | $834M | 26 | +24.37% | +17.72% | +6.65% | -0.12B |
| 2025-09-30 | $968M | 24 | +27.29% | +17.52% | +9.77% | -0.10B |
| 2025-06-30 | $998M | 24 | +32.32% | +14.94% | +17.38% | -0.15B |
| 2025-03-31 | $969M | 25 | +12.09% | +8.30% | +3.79% | +0.36B |
| 2024-12-31 | $616M | 41 | +19.68% | +24.89% | -5.21% | +0.20B |
| 2024-09-30 | $416M | 39 | +36.53% | +36.04% | +0.49% | -0.06B |
| 2024-06-30 | $432M | 38 | +17.50% | +24.49% | -6.99% | -0.00B |
| 2024-03-31 | $430M | 39 | +25.76% | +29.62% | -3.87% | -0.04B |
| 2023-12-31 | $442M | 41 | +27.71% | +26.18% | +1.53% | -0.10B |
| 2023-09-30 | $467M | 40 | +9.06% | +21.57% | -12.51% | -0.03B |
| 2023-06-30 | $523M | 42 | +15.33% | +19.42% | -4.09% | -0.04B |
| 2023-03-31 | $527M | 42 | -20.28% | -7.82% | -12.46% | -0.05B |
| 2022-12-31 | $532M | 42 | -1.41% | +7.56% | -8.97% | -0.06B |
| 2022-09-30 | $600M | 45 | +0.85% | -4.93% | +5.77% | -0.02B |
| 2022-06-30 | $613M | 44 | -25.64% | -16.11% | -9.53% | +0.00B |