Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-3.22%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.07%
baseline attrition
Rally response
-4.79%
trims into rallies
when a holding rises +10%+
Top positions · 28
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AMZNAmazon.com, Inc. | $54M | 20.2% | +9.5% | 6.3 yr |
| MSFTMicrosoft Corporation | $52M | 19.7% | -0.6% | 10.3 yr |
| HSICHenry Schein, Inc. | $48M | 18.0% | +7.6% | 1.3 yr |
| BLLBall Corporation | $32M | 12.0% | — | 2.8 yr |
| UBERUber Technologies, Inc. | $20M | 7.4% | -1.3% | 6.5 yr |
| SMWBSimilarweb Ltd. | $8M | 2.9% | -68.4% | 4.5 yr |
| DCOMDime Community Bancshare | $8M | 2.9% | +25.7% | 5.3 yr |
| TRMBTrimble Inc. | $5M | 1.7% | -0.6% | 2.3 yr |
| SSYSStratasys Ltd. | $4M | 1.6% | -20.2% | 1.3 yr |
| JPMJPMorgan Chase & Co. | $4M | 1.4% | +21.8% | 7.8 yr |
| ANGIVAngi Inc. Class A Common | $4M | 1.4% | — | 1.3 yr |
| GLDSPDR Gold Shares | $4M | 1.4% | — | 2.8 yr |
| GSThe Goldman Sachs Group, | $3M | 1.0% | +58.1% | 4.3 yr |
| PACKRanpak Holdings Corp. | $2M | 0.9% | -34.1% | 6.8 yr |
| NTBThe Bank of N.T. Butterf | $2M | 0.7% | +40.7% | 6.5 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail20.2%+7.8pp$54M
Software - Infrastructure19.7%+6.1pp$52M
Medical - Distribution18.0%+12.5pp$48M
Packaging & Containers13.0%+4.4pp$34M
Software - Application7.4%-7.6pp$20M
Internet Content & Information5.0%-9.7pp$13M
Banks - Regional2.9%+0.3pp$8M
Asset Management2.8%+0.3pp$8M
Banks - Diversified2.8%+1.2pp$7M
Hardware, Equipment & Parts1.7%-5.2pp$5M
Country
US94.6%+2.5pp
IL3.2%-2.6pp
BM0.7%+0.1pp
CA0.7%+0.5pp
BR0.7%+0.6pp
Top 5: 77.3% · Top 10: 87.9% · Top 25: 99.3%
Top buys this quarter · 7
| SSYS Stratasys Ltd. | +$4M |
| RKT Rocket Companies, Inc.new | +$1M |
| PFSI PennyMac Financial Services, Inew | +$1M |
| NTB The Bank of N.T. Butterfield & | +$0M |
| USB U.S. Bancorp | +$0M |
| GOOGL Alphabet Inc. | +$0M |
| GLD SPDR Gold Shares | +$0M |
Top sells this quarter · 15
| TRMB Trimble Inc. | −$18M |
| CSGP CoStar Group, Inc.exit | −$13M |
| UNF UniFirst Corporationexit | −$10M |
| IAC IAC InterActive Corp.exit | −$8M |
| JPM JPMorgan Chase & Co. | −$3M |
| UBER Uber Technologies, Inc. | −$2M |
| WBS Webster Financial Corporationexit | −$1M |
| TEAM Atlassian Corporationexit | −$1M |
| ASML ASML Holding N.V.exit | −$1M |
| GS The Goldman Sachs Group, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $265M | 28 | -2.15% | +17.59% | -19.74% | -0.06B |
| 2025-12-31 | $381M | 38 | +5.80% | +17.72% | -11.91% | -0.03B |
| 2025-09-30 | $429M | 38 | +14.37% | +17.52% | -3.14% | -0.05B |
| 2025-06-30 | $464M | 42 | +18.42% | +14.94% | +3.48% | +0.01B |
| 2025-03-31 | $396M | 38 | +1.08% | +8.30% | -7.23% | +0.00B |
| 2024-12-31 | $430M | 43 | +20.79% | +24.89% | -4.10% | -0.03B |
| 2024-09-30 | $436M | 40 | +32.35% | +36.04% | -3.69% | -0.01B |
| 2024-06-30 | $416M | 45 | +19.47% | +24.49% | -5.02% | -0.04B |
| 2024-03-31 | $462M | 45 | +43.02% | +29.62% | +13.40% | +0.02B |
| 2023-12-31 | $405M | 40 | +44.52% | +26.18% | +18.34% | +0.00B |
| 2023-09-30 | $353M | 35 | +14.71% | +21.57% | -6.86% | -0.02B |
| 2023-06-30 | $389M | 42 | +0.32% | +19.42% | -19.11% | -0.00B |
| 2023-03-31 | $332M | 42 | -46.59% | -7.82% | -38.78% | -0.05B |
| 2022-12-31 | $341M | 38 | -9.06% | +7.56% | -16.62% | +0.00B |
| 2022-09-30 | $373M | 42 | -15.79% | -4.93% | -10.86% | +0.05B |
| 2022-06-30 | $380M | 42 | -37.00% | -16.11% | -20.89% | +0.10B |