Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.14%
trims when stocks drop
when a holding falls −10%+
Middle response
-20.69%
baseline attrition
Rally response
-24.84%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TECHBio-Techne Corporation | $64M | 5.2% | -10.4% | 1.0 yr |
| WSOWatsco, Inc. | $59M | 4.8% | -26.4% | 0.8 yr |
| ONTOOnto Innovation Inc. | $47M | 3.9% | +69.0% | 1.0 yr |
| WEXWEX Inc. | $46M | 3.8% | -2.5% | 0.3 yr |
| JBLJabil Inc. | $46M | 3.8% | +95.5% | 0.5 yr |
| ARWArrow Electronics, Inc. | $41M | 3.3% | +38.1% | 0.3 yr |
| LKQLKQ Corporation | $40M | 3.3% | -28.4% | 0.5 yr |
| VCELVericel Corporation | $39M | 3.2% | -27.9% | 1.5 yr |
| CHWYChewy, Inc. | $38M | 3.1% | -16.9% | 0.3 yr |
| GPCGenuine Parts Company | $36M | 3.0% | -8.3% | 0.3 yr |
| ENVAEnova International, Inc | $36M | 2.9% | +40.7% | 0.5 yr |
| PKIPerkinElmer, Inc. | $31M | 2.5% | — | 0.5 yr |
| SMGThe Scotts Miracle-Gro C | $30M | 2.4% | +15.8% | 2.0 yr |
| AITApplied Industrial Techn | $29M | 2.4% | +18.6% | 1.5 yr |
| GXOGXO Logistics, Inc. | $29M | 2.4% | +32.7% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts9.7%-8.7pp$117M
Semiconductors8.8%+7.1pp$107M
Biotechnology8.5%$103M
Industrial - Distribution7.9%+3.0pp$96M
Industrial - Machinery6.4%+3.1pp$78M
Specialty Retail6.1%+5.0pp$74M
Software - Infrastructure5.2%$63M
Medical - Diagnostics & Research4.8%$58M
Financial - Credit Services4.2%+3.6pp$51M
Technology Distributors4.1%$49M
Country
US96.4%+16.5pp
SG1.1%
KY0.9%-4.3pp
Unknown0.9%-5.2pp
CA0.7%-6.1pp
Top 5: 21.6% · Top 10: 37.6% · Top 25: 69.0%
Top buys this quarter · 15
| WSO Watsco, Inc. | +$50M |
| WEX WEX Inc.new | +$46M |
| ARW Arrow Electronics, Inc.new | +$41M |
| CHWY Chewy, Inc.new | +$38M |
| GPC Genuine Parts Companynew | +$36M |
| LKQ LKQ Corporation | +$35M |
| VCEL Vericel Corporation | +$32M |
| DCI Donaldson Company, Inc.new | +$25M |
| JBL Jabil Inc. | +$25M |
| ONTO Onto Innovation Inc. | +$23M |
Top sells this quarter · 15
| CLS Celestica Inc. | −$61M |
| GBX The Greenbrier Companies, Inc. | −$47M |
| MSM MSC Industrial Direct Co., Inc | −$46M |
| COHU Cohu, Inc. | −$35M |
| UFPI UFP Industries, Inc. | −$34M |
| CSGP CoStar Group, Inc.exit | −$33M |
| FN Fabrinet | −$24M |
| WMS Advanced Drainage Systems, Inc | −$22M |
| CLH Clean Harbors, Inc.exit | −$21M |
| ATRO Astronics Corporationexit | −$19M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.21B | 78 | +48.55% | +17.59% | +30.96% | +0.24B |
| 2025-12-31 | $904M | 58 | +33.54% | +17.72% | +15.82% | -0.12B |
| 2025-09-30 | $990M | 49 | +40.13% | +17.52% | +22.61% | -0.30B |
| 2025-06-30 | $1.18B | 64 | +38.53% | +14.94% | +23.59% | -0.04B |
| 2025-03-31 | $995M | 51 | +15.87% | +8.30% | +7.56% | +0.12B |
| 2024-12-31 | $909M | 52 | +30.54% | +24.89% | +5.65% | +0.16B |
| 2024-09-30 | $691M | 54 | +35.29% | +36.04% | -0.74% | +0.05B |
| 2024-06-30 | $589M | 62 | +23.95% | +24.49% | -0.54% | +0.28B |
| 2024-03-31 | $305M | 48 | +27.29% | +29.62% | -2.34% | -0.00B |
| 2023-12-31 | $282M | 37 | +22.31% | +26.18% | -3.86% | +0.02B |
| 2023-09-30 | $233M | 46 | +23.07% | +21.57% | +1.50% | -0.01B |
| 2023-06-30 | $244M | 50 | +32.13% | +19.42% | +12.70% | -0.04B |
| 2023-03-31 | $276M | 47 | +14.38% | -7.82% | +22.20% | +0.10B |
| 2022-12-31 | $168M | 46 | +13.37% | +7.56% | +5.80% | -0.06B |
| 2022-09-30 | $205M | 50 | +6.56% | -4.93% | +11.48% | +0.04B |
| 2022-06-30 | $151M | 43 | -9.34% | -16.11% | +6.77% | -0.03B |