Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.62%
baseline attrition
Rally response
-7.26%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $115M | 9.9% | — | 1.5 yr |
| — | $57M | 4.9% | — | 1.8 yr |
| — | $50M | 4.3% | — | 0.8 yr |
| SCHWThe Charles Schwab Corpo | $49M | 4.2% | +21.5% | 3.0 yr |
| APHAmphenol Corporation | $48M | 4.1% | +93.6% | 6.0 yr |
| MSFTMicrosoft Corporation | $45M | 3.9% | -0.6% | 7.8 yr |
| GEGE Aerospace | $44M | 3.8% | +42.5% | 2.0 yr |
| PANWPalo Alto Networks, Inc. | $42M | 3.6% | -6.0% | 4.8 yr |
| — | $41M | 3.6% | — | 0.8 yr |
| — | $41M | 3.5% | — | 1.0 yr |
| AJGArthur J. Gallagher & Co | $37M | 3.2% | -36.6% | 0.8 yr |
| — | $37M | 3.2% | — | 1.8 yr |
| SYKStryker Corporation | $36M | 3.1% | -11.1% | 0.3 yr |
| — | $36M | 3.1% | — | 2.8 yr |
| CRCrane Company | $36M | 3.1% | +12.2% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Unknown53.3%+46.3pp$619M
Software - Infrastructure7.5%+0.8pp$87M
Financial - Capital Markets4.2%+0.4pp$49M
Hardware, Equipment & Parts4.1%-1.7pp$48M
Aerospace & Defense3.8%-1.2pp$44M
Semiconductors3.4%+2.6pp$40M
Insurance - Brokers3.2%$37M
Medical - Devices3.1%-1.6pp$36M
Industrial - Machinery3.1%+0.1pp$36M
Specialty Retail3.1%+2.8pp$36M
Country
Unknown53.3%+46.3pp
US46.7%-40.2pp
FR0.0%-0.0pp
Top 5: 27.4% · Top 10: 45.8% · Top 25: 86.4%
Top buys this quarter · 15
| SYK Stryker Corporationnew | +$36M |
| MSFT Microsoft Corporation | +$35M |
| AMZN Amazon.com, Inc. | +$32M |
| TXN Texas Instruments Incorporated | +$31M |
| CR Crane Company | +$20M |
| AJG Arthur J. Gallagher & Co. | +$6M |
| — | +$0M |
| — | +$0M |
| AVUS Avantis U.S. Equity ETF | +$0M |
| BRK-B Berkshire Hathaway Inc. | +$0M |
Top sells this quarter · 15
| HUBB Hubbell Incorporated | −$53M |
| USB U.S. Bancorp | −$43M |
| CDNS Cadence Design Systems, Inc.exit | −$36M |
| TYL Tyler Technologies, Inc.exit | −$34M |
| APH Amphenol Corporation | −$30M |
| PANW Palo Alto Networks, Inc. | −$22M |
| ANET Arista Networks, Inc. | −$13M |
| GE GE Aerospace | −$10M |
| SCHW The Charles Schwab Corporation | −$5M |
| CAT Caterpillar Inc. | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.16B | 95 | +14.49% | +17.59% | -3.10% | -0.16B |
| 2025-12-31 | $1.40B | 104 | +15.73% | +17.72% | -1.98% | -0.02B |
| 2025-09-30 | $1.43B | 107 | +12.72% | +17.52% | -4.80% | -0.03B |
| 2025-06-30 | $1.39B | 101 | +16.50% | +14.94% | +1.55% | -0.03B |
| 2025-03-31 | $1.22B | 93 | +5.60% | +8.30% | -2.71% | +0.00B |
| 2024-12-31 | $1.28B | 95 | +14.06% | +24.89% | -10.83% | -0.08B |
| 2024-09-30 | $1.40B | 93 | +37.02% | +36.04% | +0.99% | -0.02B |
| 2024-06-30 | $1.30B | 88 | +14.65% | +24.49% | -9.84% | -0.02B |
| 2024-03-31 | $1.25B | 90 | +17.91% | +29.62% | -11.71% | +0.01B |
| 2023-12-31 | $1.20B | 86 | +23.94% | +26.18% | -2.24% | -0.04B |
| 2023-09-30 | $1.07B | 87 | +15.88% | +21.57% | -5.68% | +0.07B |
| 2023-06-30 | $1.10B | 84 | +17.96% | +19.42% | -1.46% | -0.04B |
| 2023-03-31 | $1.04B | 83 | -7.34% | -7.82% | +0.48% | +0.03B |
| 2022-12-31 | $937M | 88 | +8.37% | +7.56% | +0.81% | -0.01B |
| 2022-09-30 | $876M | 83 | -7.35% | -4.93% | -2.42% | +0.01B |
| 2022-06-30 | $935M | 88 | -14.66% | -16.11% | +1.46% | -0.06B |