Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-19.35%
trims when stocks drop
when a holding falls −10%+
Middle response
-24.33%
baseline attrition
Rally response
-25.19%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $61M | 2.3% | -0.6% | 0.8 yr |
| ADBEAdobe Inc. | $61M | 2.3% | -36.6% | 2.8 yr |
| VVisa Inc. | $60M | 2.3% | -13.1% | 3.5 yr |
| NOWServiceNow, Inc. | $57M | 2.2% | -34.3% | 1.0 yr |
| ADPAutomatic Data Processin | $57M | 2.1% | -31.8% | 6.0 yr |
| MCOMoody's Corporation | $57M | 2.1% | -5.6% | 3.8 yr |
| CMECME Group Inc. | $56M | 2.1% | +15.6% | 2.3 yr |
| TFCTruist Financial Corpora | $53M | 2.0% | +17.1% | 1.5 yr |
| FASTFastenal Company | $51M | 1.9% | +22.1% | 5.3 yr |
| TDGTransDigm Group Incorpor | $51M | 1.9% | -10.5% | 2.5 yr |
| CMCanadian Imperial Bank o | $49M | 1.9% | +73.0% | 3.5 yr |
| UBERUber Technologies, Inc. | $48M | 1.8% | -1.3% | 2.8 yr |
| CCJCameco Corporation | $45M | 1.7% | +164.4% | 1.8 yr |
| PCARPACCAR Inc | $43M | 1.6% | +21.7% | 3.3 yr |
| METMetLife, Inc. | $36M | 1.4% | -9.3% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application13.5%+9.8pp$360M
Software - Infrastructure8.7%+6.5pp$233M
Banks - Regional7.5%+6.3pp$201M
Industrial - Machinery5.9%+3.9pp$159M
Financial - Credit Services4.6%+3.0pp$122M
Aerospace & Defense4.3%+1.1pp$116M
Financial - Data & Stock Exchanges4.3%+3.4pp$114M
Banks - Diversified3.7%+1.8pp$100M
Insurance - Property & Casualty3.2%+2.0pp$85M
Asset Management3.2%+1.3pp$85M
Country
US81.1%-8.9pp
CA9.6%+7.7pp
GB2.5%+1.9pp
IE2.5%+0.4pp
CH1.3%+0.9pp
BM0.8%-0.2pp
Unknown0.5%-0.9pp
BR0.4%
Top 5: 11.1% · Top 10: 21.1% · Top 25: 40.8%
Top buys this quarter · 15
| V Visa Inc. | +$56M |
| NOW ServiceNow, Inc. | +$54M |
| MCO Moody's Corporation | +$51M |
| TFC Truist Financial Corporation | +$51M |
| TDG TransDigm Group Incorporated | +$47M |
| MSFT Microsoft Corporation | +$45M |
| UBER Uber Technologies, Inc. | +$43M |
| ADSK Autodesk, Inc. | +$35M |
| VLTO Veralto Corporation | +$28M |
| KEY KeyCorp | +$27M |
Top sells this quarter · 15
| GD General Dynamics Corporationexit | −$58M |
| DELL Dell Technologies Inc.exit | −$51M |
| C Citigroup Inc.exit | −$51M |
| MNST Monster Beverage Corporationexit | −$46M |
| HON Honeywell International Inc. | −$43M |
| CRM Salesforce, Inc.exit | −$42M |
| FCX Freeport-McMoRan Inc.exit | −$39M |
| HCA HCA Healthcare, Inc.exit | −$31M |
| EA Electronic Arts Inc.exit | −$31M |
| CTAS Cintas Corporation | −$31M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.67B | 468 | +21.61% | +17.59% | +4.02% | -0.26B |
| 2025-12-31 | $2.93B | 549 | +20.28% | +17.72% | +2.56% | +0.24B |
| 2025-09-30 | $2.56B | 550 | +26.19% | +17.52% | +8.67% | -1.46B |
| 2025-06-30 | $3.72B | 707 | +24.84% | +13.45% | +11.39% | -2.68B |
| 2025-03-31 | $5.96B | 1052 | +30.51% | +13.05% | +17.45% | +0.09B |
| 2024-12-31 | $5.94B | 1061 | +47.60% | +31.84% | +15.76% | +1.18B |
| 2024-06-30 | $4.31B | 917 | +30.11% | +24.49% | +5.62% | +2.03B |
| 2024-03-31 | $2.14B | 663 | +26.73% | +29.62% | -2.89% | +2.03B |
| 2023-12-31 | $99M | 65 | +18.29% | +26.18% | -7.89% | -1.62B |
| 2023-09-30 | $1.54B | 356 | +14.73% | +21.57% | -6.83% | -1.12B |
| 2023-06-30 | $2.73B | 633 | +1.58% | +19.42% | -17.85% | -1.73B |
| 2023-03-31 | $4.29B | 937 | +4.69% | +7.46% | -2.77% | -1.78B |
| 2022-12-31 | $5.79B | 1162 | +8.27% | +7.56% | +0.71% | -0.57B |
| 2022-09-30 | $5.87B | 1421 | -13.94% | -4.93% | -9.01% | +1.45B |
| 2022-03-31 | $5.13B | 1514 | — | — | — | +1.32B |
| 2021-12-31 | $3.81B | 1394 | — | — | — | -1.62B |