Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.81%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.14%
steady accumulation
Rally response
-10.60%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ODFLOld Dominion Freight Lin | $73M | 9.4% | +18.9% | 5.3 yr |
| NVRNVR, Inc. | $64M | 8.1% | -9.0% | 9.3 yr |
| PRIPrimerica, Inc. | $63M | 8.0% | -10.5% | 10.5 yr |
| MSCIMSCI Inc. | $59M | 7.6% | -3.4% | 6.0 yr |
| VEEVVeeva Systems Inc. | $56M | 7.1% | -24.2% | 5.3 yr |
| MLMMartin Marietta Material | $53M | 6.8% | +23.8% | 0.3 yr |
| HEI-AHEICO Corporation | $50M | 6.3% | — | 8.8 yr |
| FASTFastenal Company | $44M | 5.7% | +22.1% | 8.0 yr |
| MCOMoody's Corporation | $43M | 5.6% | -5.6% | 10.0 yr |
| GGGGraco Inc. | $42M | 5.4% | +2.7% | 10.5 yr |
| BROBrown & Brown, Inc. | $42M | 5.4% | -47.2% | 2.3 yr |
| TYLTyler Technologies, Inc. | $41M | 5.3% | -41.1% | 3.3 yr |
| IDXXIDEXX Laboratories, Inc. | $32M | 4.0% | +33.8% | 4.0 yr |
| BKNGBooking Holdings Inc. | $26M | 3.4% | -96.3% | 8.3 yr |
| CPRTCopart, Inc. | $17M | 2.2% | -41.3% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Financial - Data & Stock Exchanges13.1%+5.7pp$103M
Trucking9.4%+0.4pp$73M
Residential Construction8.1%+0.2pp$64M
Insurance - Life8.0%+0.4pp$63M
Construction Materials7.7%$60M
Medical - Healthcare Information Services7.1%-2.4pp$56M
Aerospace & Defense6.3%-1.7pp$50M
Software - Application6.0%-1.0pp$47M
Industrial - Distribution5.7%-0.5pp$44M
Industrial - Machinery5.4%+0.0pp$42M
Country
US100.0%+1.4pp
Top 5: 40.3% · Top 10: 70.0% · Top 25: 99.8%
Top buys this quarter · 11
| MLM Martin Marietta Materials, Incnew | +$53M |
| TYL Tyler Technologies, Inc. | +$16M |
| IT Gartner, Inc.new | +$16M |
| MSCI MSCI Inc. | +$12M |
| VMC Vulcan Materials Companynew | +$7M |
| MCO Moody's Corporation | +$7M |
| NVR NVR, Inc. | +$6M |
| VEEV Veeva Systems Inc. | +$56M |
| ITB iShares U.S. Home Construction | +$0M |
| SCHZ Schwab U.S. Aggregate Bond ETF | +$0M |
Top sells this quarter · 15
| ODFL Old Dominion Freight Line, Inc | −$46M |
| LSTR Landstar System, Inc.exit | −$31M |
| CPRT Copart, Inc. | −$30M |
| IDXX IDEXX Laboratories, Inc. | −$11M |
| CSGP CoStar Group, Inc.exit | −$9M |
| DSGX The Descartes Systems Group Inexit | −$2M |
| PRI Primerica, Inc. | −$1M |
| FAST Fastenal Company | −$39M |
| BRO Brown & Brown, Inc. | −$1M |
| GGG Graco Inc. | −$41M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $781M | 34 | -11.82% | +17.59% | -29.41% | +0.01B |
| 2025-12-31 | $864M | 34 | -2.47% | +17.72% | -20.19% | +0.00B |
| 2025-09-30 | $912M | 33 | +2.33% | +17.52% | -15.19% | -0.01B |
| 2025-06-30 | $925M | 33 | +13.57% | +14.94% | -1.37% | -0.09B |
| 2025-03-31 | $967M | 33 | -0.06% | +8.30% | -8.36% | +0.04B |
| 2024-12-31 | $933M | 31 | +10.80% | +24.89% | -14.09% | -0.02B |
| 2024-09-30 | $965M | 32 | +25.62% | +36.04% | -10.42% | -0.01B |
| 2024-06-30 | $884M | 31 | +11.29% | +24.49% | -13.20% | +0.03B |
| 2024-03-31 | $919M | 31 | +35.03% | +29.62% | +5.40% | -0.02B |
| 2023-12-31 | $850M | 32 | +42.72% | +26.18% | +16.54% | +0.00B |
| 2023-09-30 | $755M | 28 | +46.36% | +21.57% | +24.79% | -0.05B |
| 2023-06-30 | $829M | 26 | +47.19% | +19.42% | +27.77% | -0.04B |
| 2023-03-31 | $774M | 26 | +11.49% | -7.82% | +19.31% | -0.11B |
| 2022-12-31 | $758M | 26 | +14.88% | +7.56% | +7.32% | -0.12B |
| 2022-09-30 | $763M | 30 | -1.74% | -4.93% | +3.19% | +0.04B |
| 2022-06-30 | $732M | 31 | -15.10% | -16.11% | +1.01% | +0.05B |