Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.79%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.57%
baseline attrition
Rally response
-6.37%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $619M | 9.4% | +60.9% | 3.5 yr |
| MSFTMicrosoft Corporation | $450M | 6.8% | -0.6% | 10.3 yr |
| GOOGLAlphabet Inc. | $394M | 6.0% | — | 10.3 yr |
| AMZNAmazon.com, Inc. | $370M | 5.6% | +9.5% | 10.3 yr |
| JPMJPMorgan Chase & Co. | $356M | 5.4% | +21.8% | 1.3 yr |
| WCNWaste Connections, Inc. | $287M | 4.3% | -16.2% | 5.8 yr |
| DHRDanaher Corporation | $246M | 3.7% | -7.1% | 10.3 yr |
| MAMastercard Incorporated | $237M | 3.6% | -8.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $236M | 3.6% | -0.4% | 9.3 yr |
| VLOValero Energy Corporatio | $231M | 3.5% | +92.6% | 3.0 yr |
| MNSTMonster Beverage Corpora | $210M | 3.2% | +23.8% | 1.8 yr |
| ZTSZoetis Inc. | $191M | 2.9% | -27.2% | 3.5 yr |
| AVGOBroadcom Inc. | $188M | 2.8% | +86.0% | 0.5 yr |
| IDXXIDEXX Laboratories, Inc. | $187M | 2.8% | +33.8% | 1.3 yr |
| APGAPi Group Corporation | $184M | 2.8% | +70.0% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors16.8%+4.6pp$1.11B
Internet Content & Information9.5%+0.8pp$630M
Software - Infrastructure8.5%-3.0pp$562M
Banks - Diversified7.0%+5.7pp$463M
Medical - Diagnostics & Research6.6%+0.5pp$433M
Specialty Retail6.5%+0.9pp$428M
Financial - Credit Services4.4%-0.4pp$294M
Waste Management4.3%+0.4pp$287M
Oil & Gas Refining & Marketing3.5%+0.5pp$231M
Beverages - Non-Alcoholic3.2%-0.8pp$210M
Country
US84.2%-4.4pp
CA11.9%+3.2pp
TW2.5%+1.3pp
Unknown1.4%+0.6pp
Top 5: 33.1% · Top 10: 51.8% · Top 25: 87.1%
Top buys this quarter · 15
| APH Amphenol Corporationnew | +$118M |
| AVGO Broadcom Inc. | +$105M |
| IDXX IDEXX Laboratories, Inc. | +$93M |
| JPM JPMorgan Chase & Co. | +$70M |
| SUNB Sunbelt Rentals Holdings Incnew | +$65M |
| APG APi Group Corporation | +$63M |
| MA Mastercard Incorporated | +$53M |
| LRCX Lam Research Corporation | +$13M |
| UBER Uber Technologies, Inc. | +$156M |
| FSV FirstService Corporation | +$10M |
Top sells this quarter · 15
| BLK BlackRock, Inc. | −$201M |
| MSFT Microsoft Corporation | −$135M |
| FTNT Fortinet, Inc.exit | −$100M |
| ROL Rollins, Inc.exit | −$99M |
| WCN Waste Connections, Inc. | −$85M |
| ADBE Adobe Inc.exit | −$77M |
| SNPS Synopsys, Inc. | −$68M |
| TSM Taiwan Semiconductor Manufactu | −$64M |
| AMZN Amazon.com, Inc. | −$63M |
| ZTS Zoetis Inc. | −$59M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $6.61B | 72 | +10.37% | +17.59% | -7.22% | -0.80B |
| 2025-12-31 | $8.03B | 73 | +16.27% | +17.72% | -1.45% | -0.56B |
| 2025-09-30 | $8.59B | 78 | +14.37% | +17.52% | -3.15% | -0.91B |
| 2025-06-30 | $9.01B | 75 | +12.97% | +14.94% | -1.97% | +0.37B |
| 2025-03-31 | $7.61B | 62 | -1.94% | +8.30% | -10.24% | -0.42B |
| 2024-12-31 | $8.26B | 61 | +8.24% | +24.89% | -16.65% | -1.07B |
| 2024-09-30 | $9.49B | 62 | +24.44% | +36.04% | -11.60% | -0.43B |
| 2024-06-30 | $9.53B | 58 | +15.90% | +24.49% | -8.59% | +0.26B |
| 2024-03-31 | $9.40B | 58 | +24.59% | +29.62% | -5.04% | +0.74B |
| 2023-12-31 | $8.06B | 62 | +29.57% | +26.18% | +3.40% | +0.32B |
| 2023-09-30 | $6.85B | 62 | +21.86% | +21.57% | +0.29% | +0.60B |
| 2023-06-30 | $6.46B | 66 | +21.40% | +19.42% | +1.97% | +1.32B |
| 2023-03-31 | $4.84B | 63 | -2.39% | -7.82% | +5.43% | +0.03B |
| 2022-12-31 | $4.31B | 66 | +6.22% | +7.56% | -1.34% | +0.28B |
| 2022-09-30 | $3.79B | 62 | -3.44% | -4.93% | +1.49% | +0.17B |
| 2022-06-30 | $3.75B | 61 | -14.71% | -16.11% | +1.40% | +0.06B |