Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.95%
trims when stocks drop
when a holding falls −10%+
Middle response
+1.94%
steady accumulation
Rally response
-1.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| AAPLApple Inc. | $378M | 3.1% | +14.7% | 10.5 yr |
| MSFTMicrosoft Corporation | $359M | 2.9% | -0.6% | 10.5 yr |
| GOOGLAlphabet Inc. | $247M | 2.0% | — | 10.5 yr |
| GOOGAlphabet Inc. | $222M | 1.8% | +84.3% | 10.5 yr |
| JPMJPMorgan Chase & Co. | $218M | 1.8% | +21.8% | 10.5 yr |
| NVDANVIDIA Corporation | $192M | 1.6% | +60.9% | 4.3 yr |
| ATRAptarGroup, Inc. | $170M | 1.4% | -13.9% | 10.5 yr |
| DCIDonaldson Company, Inc. | $161M | 1.3% | +28.4% | 10.5 yr |
| HUBBHubbell Incorporated | $161M | 1.3% | +50.1% | 10.5 yr |
| JNJJohnson & Johnson | $145M | 1.2% | +51.5% | 10.5 yr |
| VVisa Inc. | $144M | 1.2% | -13.1% | 10.5 yr |
| CFRCullen/Frost Bankers, In | $133M | 1.1% | +12.9% | 2.8 yr |
| CINFCincinnati Financial Cor | $119M | 1.0% | +8.3% | 10.5 yr |
| AITApplied Industrial Techn | $117M | 1.0% | +18.6% | 10.5 yr |
| COSTCostco Wholesale Corpora | $112M | 0.9% | +5.9% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Infrastructure6.2%-1.3pp$748M
Industrial - Machinery5.2%+1.1pp$632M
Semiconductors4.8%+1.6pp$579M
Internet Content & Information4.3%+1.1pp$524M
Medical - Devices3.7%+1.1pp$446M
Banks - Regional3.3%-0.0pp$406M
Consumer Electronics3.1%+0.2pp$378M
Banks - Diversified2.8%-0.0pp$345M
Insurance - Property & Casualty2.8%-0.7pp$344M
Medical - Instruments & Supplies2.7%-0.9pp$330M
Country
US95.1%+0.2pp
IE3.3%+0.5pp
CH0.8%-0.2pp
IL0.3%-0.5pp
GB0.3%+0.2pp
CA0.1%-0.2pp
Unknown0.0%-0.1pp
NL0.0%
Top 5: 11.7% · Top 10: 18.5% · Top 25: 32.1%
Top buys this quarter · 15
| ON ON Semiconductor Corporation | +$54M |
| VLTO Veralto Corporation | +$25M |
| LIN Linde plc | +$24M |
| ESAB ESAB Corporationnew | +$23M |
| NFLX Netflix, Inc. | +$22M |
| WM Waste Management, Inc. | +$21M |
| ETN Eaton Corporation plc | +$20M |
| MMSI Merit Medical Systems, Inc.new | +$19M |
| DIS The Walt Disney Company | +$19M |
| JAZZ Jazz Pharmaceuticals plc | +$18M |
Top sells this quarter · 15
| TER Teradyne, Inc. | −$123M |
| CSGS CSG Systems International, Inc | −$53M |
| EXLS ExlService Holdings, Inc. | −$52M |
| DCI Donaldson Company, Inc. | −$42M |
| AKAM Akamai Technologies, Inc.exit | −$40M |
| AMAT Applied Materials, Inc. | −$40M |
| MGY Magnolia Oil & Gas Corporation | −$91M |
| APD Air Products and Chemicals, In | −$27M |
| DLB Dolby Laboratories, Inc. | −$26M |
| SLGN Silgan Holdings Inc. | −$24M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $12.16B | 388 | +4.67% | +17.59% | -12.93% | -0.72B |
| 2025-12-31 | $13.25B | 383 | +4.81% | +17.72% | -12.91% | -0.53B |
| 2025-09-30 | $13.63B | 391 | +3.20% | +17.52% | -14.31% | -0.88B |
| 2025-06-30 | $14.02B | 374 | +8.38% | +14.94% | -6.56% | -0.07B |
| 2025-03-31 | $13.69B | 372 | +2.96% | +8.30% | -5.34% | -0.18B |
| 2024-12-31 | $14.25B | 379 | +12.65% | +24.89% | -12.24% | -0.06B |
| 2024-09-30 | $14.37B | 382 | +25.46% | +36.04% | -10.58% | -0.28B |
| 2024-06-30 | $13.48B | 378 | +11.73% | +24.49% | -12.76% | -0.22B |
| 2024-03-31 | $14.02B | 372 | +18.90% | +29.62% | -10.72% | -0.10B |
| 2023-12-31 | $13.26B | 372 | +15.60% | +26.18% | -10.57% | +0.03B |
| 2023-09-30 | $11.93B | 360 | +16.23% | +21.57% | -5.34% | +0.13B |
| 2023-06-30 | $12.19B | 367 | +15.44% | +19.42% | -3.98% | +0.14B |
| 2023-03-31 | $11.59B | 365 | -3.05% | -7.82% | +4.77% | -0.19B |
| 2022-12-31 | $11.37B | 362 | -10.68% | -18.17% | +7.49% | +0.12B |
| 2022-09-30 | $10.09B | 355 | -11.00% | -15.51% | +4.51% | -0.08B |
| 2022-06-30 | $10.58B | 367 | -6.91% | -10.62% | +3.71% | +0.00B |