Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.18%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.85%
baseline attrition
Rally response
-18.54%
trims into rallies
when a holding rises +10%+
Top positions · 25
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ELANElanco Animal Health Inc | $251M | 13.5% | +127.9% | 3.3 yr |
| BAHBooz Allen Hamilton Hold | $207M | 11.1% | -23.5% | 8.8 yr |
| FCNFTI Consulting, Inc. | $194M | 10.4% | +7.7% | 10.5 yr |
| PSMTPriceSmart, Inc. | $175M | 9.4% | +73.0% | 5.5 yr |
| EXPEagle Materials Inc. | $147M | 7.9% | -14.2% | 0.5 yr |
| PYPLPayPal Holdings, Inc. | $144M | 7.7% | -30.3% | 4.0 yr |
| BF-BBrown-Forman Corporation | $139M | 7.5% | -19.5% | 1.3 yr |
| BIDUBaidu, Inc. | $104M | 5.6% | +21.1% | 7.0 yr |
| ITGartner, Inc. | $101M | 5.4% | -62.3% | 0.8 yr |
| GRFSGrifols, S.A. | $67M | 3.6% | +14.2% | 10.5 yr |
| FMXFomento Económico Mexic | $66M | 3.5% | +22.7% | 7.0 yr |
| NTRNutrien Ltd. | $65M | 3.5% | +56.2% | 7.5 yr |
| NICENICE Ltd. | $59M | 3.1% | -28.5% | 6.0 yr |
| CXCEMEX, S.A.B. de C.V. | $36M | 2.0% | +106.1% | 1.0 yr |
| ARMKAramark | $22M | 1.2% | +18.8% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Consulting Services27.0%+11.7pp$503M
Drug Manufacturers - Specialty & Generic13.5%+2.6pp$251M
Construction Materials9.9%$184M
Discount Stores9.4%+1.5pp$175M
Financial - Credit Services8.5%+0.1pp$158M
Beverages - Wineries & Distilleries7.5%+5.4pp$139M
Internet Content & Information6.5%-3.4pp$121M
Software - Application3.7%-9.1pp$69M
Drug Manufacturers - General3.6%-0.6pp$67M
Beverages - Alcoholic3.5%-1.0pp$66M
Country
US78.5%+17.6pp
CN5.6%-3.4pp
MX5.5%+0.9pp
ES3.6%-0.6pp
CA3.5%-5.0pp
IL3.1%-8.8pp
UY0.1%-0.0pp
FR0.1%+0.0pp
Top 5: 52.3% · Top 10: 82.1% · Top 25: 100.0%
Top buys this quarter · 10
| IT Gartner, Inc. | +$99M |
| EXP Eagle Materials Inc. | +$52M |
| SUNB Sunbelt Rentals Holdings Incnew | +$15M |
| BAH Booz Allen Hamilton Holding Co | +$207M |
| FCN FTI Consulting, Inc. | +$5M |
| BF-B Brown-Forman Corporation | +$4M |
| CX CEMEX, S.A.B. de C.V. | +$4M |
| BIDU Baidu, Inc. | +$104M |
| CRTO Criteo S.A. | +$1M |
| ABC AmerisourceBergen Corporation | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.86B | 25 | +20.26% | +17.59% | +2.67% | -0.17B |
| 2025-12-31 | $2.02B | 27 | +11.05% | +17.72% | -6.67% | -0.06B |
| 2025-09-30 | $2.12B | 28 | +4.33% | +17.52% | -13.19% | -0.24B |
| 2025-06-30 | $2.16B | 26 | +6.74% | +14.94% | -8.20% | -0.20B |
| 2025-03-31 | $2.12B | 24 | -13.75% | +8.30% | -22.06% | +0.16B |
| 2024-12-31 | $2.10B | 25 | -2.30% | +24.89% | -27.19% | -0.49B |
| 2024-09-30 | $2.82B | 27 | +15.07% | +36.04% | -20.97% | -0.16B |
| 2024-06-30 | $2.68B | 32 | -2.18% | +24.49% | -26.67% | -0.29B |
| 2024-03-31 | $3.30B | 35 | +5.16% | +29.62% | -24.46% | +0.09B |
| 2023-12-31 | $3.04B | 35 | +12.25% | +26.18% | -13.93% | +0.07B |
| 2023-09-30 | $2.73B | 37 | +5.29% | +21.57% | -16.28% | +0.04B |
| 2023-06-30 | $2.84B | 36 | +4.24% | +19.42% | -15.19% | +0.23B |
| 2023-03-31 | $2.71B | 36 | +2.04% | -7.82% | +9.86% | +0.07B |
| 2022-12-31 | $2.33B | 36 | +1.72% | +7.56% | -5.84% | -0.12B |
| 2022-09-30 | $2.41B | 38 | -6.15% | -4.93% | -1.23% | -0.20B |
| 2022-06-30 | $2.78B | 36 | -5.27% | -16.11% | +10.84% | -0.57B |