Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.56%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.06%
baseline attrition
Rally response
-7.71%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| POSTPost Holdings, Inc. | $292M | 12.8% | -15.0% | 10.5 yr |
| GWREGuidewire Software, Inc. | $277M | 12.1% | -20.2% | 6.3 yr |
| AMZNAmazon.com, Inc. | $215M | 9.4% | +9.5% | 3.8 yr |
| NYTThe New York Times Compa | $206M | 9.0% | +70.5% | 6.0 yr |
| GOOGAlphabet Inc. | $198M | 8.7% | +84.3% | 10.5 yr |
| SCHWThe Charles Schwab Corpo | $158M | 6.9% | +21.5% | 10.5 yr |
| UNHUnitedHealth Group Incor | $144M | 6.3% | -46.9% | 7.0 yr |
| TMOThermo Fisher Scientific | $127M | 5.6% | -0.9% | 2.8 yr |
| HLFHerbalife Nutrition Ltd. | $121M | 5.3% | +70.6% | 10.5 yr |
| KRCKilroy Realty Corporatio | $114M | 5.0% | -10.1% | 1.5 yr |
| VISTVista Energy, S.A.B. de | $92M | 4.0% | +62.1% | 0.5 yr |
| MELIMercadoLibre, Inc. | $77M | 3.4% | -11.4% | 0.3 yr |
| ESSEssex Property Trust, In | $72M | 3.2% | -18.8% | 0.5 yr |
| — | $54M | 2.4% | — | 1.0 yr |
| PCORProcore Technologies, In | $52M | 2.3% | -13.7% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Packaged Foods18.1%-3.7pp$413M
Software - Application14.4%-8.4pp$329M
Specialty Retail12.8%+2.5pp$292M
Publishing9.0%+1.2pp$206M
Internet Content & Information8.7%+1.4pp$198M
Financial - Capital Markets6.9%-4.3pp$158M
Medical - Healthcare Plans6.3%-3.4pp$144M
Medical - Diagnostics & Research5.6%+0.6pp$127M
REIT - Office5.0%$114M
Oil & Gas Exploration & Production4.0%$92M
Country
US87.9%-8.0pp
MX4.0%
UY3.4%
Unknown2.4%
AR2.3%
Top 5: 52.0% · Top 10: 81.1% · Top 25: 100.0%
Top buys this quarter · 10
| — | +$0M |
| MELI MercadoLibre, Inc.new | +$77M |
| KRC Kilroy Realty Corporation | +$31M |
| GGAL Grupo Financiero Galicia S.A.new | +$27M |
| GWRE Guidewire Software, Inc. | +$277M |
| BMA Banco Macro S.A.new | +$26M |
| VIST Vista Energy, S.A.B. de C.V. | +$15M |
| UNH UnitedHealth Group Incorporate | +$144M |
| VEEV Veeva Systems Inc. | +$32M |
| HLF Herbalife Nutrition Ltd. | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.28B | 18 | +2.93% | +17.59% | -14.67% | +0.06B |
| 2025-12-31 | $2.40B | 15 | +9.61% | +17.72% | -8.11% | -0.12B |
| 2025-09-30 | $2.45B | 16 | +7.36% | +17.52% | -10.15% | +0.13B |
| 2025-06-30 | $2.23B | 14 | +10.77% | +14.94% | -4.17% | -0.20B |
| 2025-03-31 | $2.35B | 13 | +11.46% | +8.30% | +3.15% | -0.14B |
| 2024-12-31 | $2.51B | 13 | +20.01% | +24.89% | -4.87% | -0.29B |
| 2024-09-30 | $2.78B | 15 | +37.20% | +36.04% | +1.16% | -0.05B |
| 2024-06-30 | $2.63B | 15 | +34.25% | +24.49% | +9.76% | -0.00B |
| 2024-03-31 | $2.53B | 16 | +33.95% | +29.62% | +4.33% | -0.37B |
| 2023-12-31 | $2.72B | 15 | +36.21% | +26.18% | +10.03% | -0.26B |
| 2023-09-30 | $2.59B | 14 | +23.28% | +21.57% | +1.72% | -0.05B |
| 2023-06-30 | $2.50B | 12 | +13.01% | +19.42% | -6.42% | -0.12B |
| 2023-03-31 | $2.53B | 14 | -5.07% | -7.82% | +2.75% | +0.14B |
| 2022-12-31 | $2.21B | 13 | +4.25% | +7.56% | -3.31% | -0.55B |
| 2022-09-30 | $2.64B | 15 | -3.61% | -4.93% | +1.32% | -0.02B |
| 2022-06-30 | $2.76B | 15 | -12.70% | -16.11% | +3.41% | -0.04B |