Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.39%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.92%
baseline attrition
Rally response
-10.51%
trims into rallies
when a holding rises +10%+
Top positions · 16
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TSMTaiwan Semiconductor Man | $727M | 17.6% | +105.6% | 1.3 yr |
| AMZNAmazon.com, Inc. | $515M | 12.5% | +9.5% | 9.8 yr |
| TDGTransDigm Group Incorpor | $503M | 12.2% | -10.5% | 10.5 yr |
| WCNWaste Connections, Inc. | $398M | 9.6% | -16.2% | 2.5 yr |
| DEDeere & Company | $318M | 7.7% | +21.2% | 2.0 yr |
| VMCVulcan Materials Company | $311M | 7.5% | +17.5% | 6.0 yr |
| GOOGLAlphabet Inc. | $281M | 6.8% | — | 0.5 yr |
| NVDANVIDIA Corporation | $267M | 6.5% | +60.9% | 0.3 yr |
| KLACKLA Corporation | $196M | 4.7% | +118.2% | 0.8 yr |
| MSFTMicrosoft Corporation | $195M | 4.7% | -0.6% | 5.5 yr |
| ALSNAllison Transmission Hol | $121M | 2.9% | +23.8% | 0.3 yr |
| MAMastercard Incorporated | $103M | 2.5% | -8.5% | 0.3 yr |
| VVisa Inc. | $102M | 2.5% | -13.1% | 6.8 yr |
| — | $62M | 1.5% | — | 0.3 yr |
| GWREGuidewire Software, Inc. | $20M | 0.5% | -20.2% | 8.0 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors28.8%+25.3pp$1.19B
Specialty Retail12.5%+0.4pp$515M
Aerospace & Defense12.2%-5.5pp$503M
Waste Management9.6%+0.4pp$398M
Construction Materials8.0%+0.8pp$330M
Agricultural - Machinery7.7%-1.5pp$318M
Internet Content & Information6.8%$281M
Financial - Credit Services4.9%$205M
Software - Infrastructure4.7%-4.1pp$195M
Auto - Parts2.9%$121M
Country
US71.3%-16.1pp
TW17.6%+14.1pp
CA9.6%+0.4pp
Unknown1.5%
Top 5: 59.5% · Top 10: 89.7% · Top 25: 100.0%
Top buys this quarter · 10
| NVDA NVIDIA Corporationnew | +$267M |
| ALSN Allison Transmission Holdings,new | +$121M |
| AMZN Amazon.com, Inc. | +$104M |
| MA Mastercard Incorporatednew | +$103M |
| MLM Martin Marietta Materials, Incnew | +$19M |
| WCN Waste Connections, Inc. | +$398M |
| TSM Taiwan Semiconductor Manufactu | +$10M |
| TDG TransDigm Group Incorporated | +$503M |
| GOOGL Alphabet Inc. | +$281M |
| — new | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.14B | 16 | +11.67% | +17.59% | -5.92% | -0.24B |
| 2025-12-31 | $4.54B | 13 | +15.87% | +17.72% | -1.85% | -0.58B |
| 2025-09-30 | $5.17B | 14 | +16.21% | +17.52% | -1.31% | -0.11B |
| 2025-06-30 | $5.11B | 12 | +20.65% | +14.94% | +5.71% | -0.00B |
| 2025-03-31 | $4.52B | 12 | +8.70% | +8.30% | +0.40% | -0.20B |
| 2024-12-31 | $4.71B | 12 | +20.41% | +24.89% | -4.48% | -0.24B |
| 2024-09-30 | $4.98B | 13 | +42.52% | +36.04% | +6.48% | -0.20B |
| 2024-06-30 | $4.84B | 13 | +31.31% | +24.49% | +6.82% | -0.11B |
| 2024-03-31 | $4.85B | 13 | +50.57% | +29.62% | +20.94% | -0.33B |
| 2023-12-31 | $4.68B | 14 | +59.42% | +26.18% | +33.24% | -0.61B |
| 2023-09-30 | $4.50B | 15 | +39.42% | +21.57% | +17.85% | -0.34B |
| 2023-06-30 | $4.90B | 15 | +21.70% | +19.42% | +2.28% | -0.15B |
| 2023-03-31 | $4.32B | 15 | -13.92% | -7.82% | -6.10% | -0.06B |
| 2022-12-31 | $3.73B | 14 | +2.91% | +7.56% | -4.65% | +0.09B |
| 2022-09-30 | $3.53B | 16 | -13.83% | -4.93% | -8.90% | +0.24B |
| 2022-06-30 | $3.82B | 17 | -17.28% | -16.11% | -1.17% | -0.01B |