Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.22%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.00%
baseline attrition
Rally response
-9.27%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| POSTPost Holdings, Inc. | $118M | 9.0% | -15.0% | 10.5 yr |
| CLVTClarivate Plc | $108M | 8.3% | -35.6% | 1.3 yr |
| AMGAffiliated Managers Grou | $87M | 6.6% | +64.7% | 7.5 yr |
| AVTRAvantor, Inc. | $68M | 5.2% | -51.6% | 1.3 yr |
| CCCSCCC Intelligent Solution | $57M | 4.4% | — | 1.3 yr |
| LKQLKQ Corporation | $45M | 3.4% | -28.4% | 4.5 yr |
| LWLamb Weston Holdings, In | $42M | 3.2% | -18.5% | 4.3 yr |
| GFLGFL Environmental Inc. | $39M | 3.0% | -13.5% | 1.3 yr |
| MIDDThe Middleby Corporation | $38M | 2.9% | -12.8% | 1.5 yr |
| ITGartner, Inc. | $36M | 2.8% | -62.3% | 1.0 yr |
| WLYJohn Wiley & Sons, Inc. | $36M | 2.7% | -12.0% | 10.5 yr |
| HSICHenry Schein, Inc. | $36M | 2.7% | +7.6% | 2.3 yr |
| ROPRoper Technologies, Inc. | $33M | 2.5% | -39.7% | 3.0 yr |
| NVSTEnvista Holdings Corp | $30M | 2.3% | +47.0% | 2.3 yr |
| LPLALPL Financial Holdings I | $29M | 2.2% | -7.7% | 4.5 yr |
Portfolio composition (YoY)
Industry mix
Packaged Foods12.7%+1.1pp$167M
Information Technology Services11.4%+5.5pp$150M
Asset Management8.3%+2.1pp$109M
Medical - Instruments & Supplies6.8%+3.3pp$89M
Industrial - Machinery5.0%+0.5pp$66M
Software - Infrastructure4.7%+3.0pp$61M
Medical - Diagnostics & Research3.7%+2.0pp$48M
Integrated Freight & Logistics3.5%-2.1pp$46M
Auto - Parts3.4%+1.3pp$45M
Financial - Capital Markets3.1%-2.8pp$41M
Country
US87.4%+4.6pp
GB9.0%-0.6pp
CA3.0%-1.3pp
BE0.4%-1.4pp
IE0.2%-0.8pp
CH0.1%
Top 5: 33.4% · Top 10: 48.7% · Top 25: 79.2%
Top buys this quarter · 11
| ROP Roper Technologies, Inc. | +$32M |
| WAY Waystar Holding Corp.new | +$23M |
| IT Gartner, Inc. | +$19M |
| RYAN Ryan Specialty Holdings, Inc.new | +$10M |
| CRM Salesforce, Inc.new | +$2M |
| ZTS Zoetis Inc.new | +$1M |
| NOW ServiceNow, Inc.new | +$1M |
| ALC Alcon Inc.new | +$1M |
| JAAA Janus Henderson AAA CLO ETFnew | +$0M |
| VNLA Janus Henderson Short Durationnew | +$0M |
Top sells this quarter · 15
| POST Post Holdings, Inc. | −$166M |
| AMG Affiliated Managers Group, Inc | −$163M |
| USFD US Foods Holding Corp. | −$136M |
| CHRW C.H. Robinson Worldwide, Inc. | −$128M |
| TAP Molson Coors Beverage Company | −$116M |
| FDX FedEx Corporation | −$90M |
| NEOG Neogen Corporation | −$85M |
| WTW Willis Towers Watson Public Li | −$79M |
| GFL GFL Environmental Inc. | −$78M |
| NVST Envista Holdings Corp | −$77M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.31B | 98 | -1.31% | +17.59% | -18.90% | -2.82B |
| 2025-12-31 | $4.32B | 178 | +7.07% | +17.72% | -10.65% | -0.40B |
| 2025-09-30 | $4.64B | 158 | +6.99% | +17.52% | -10.53% | -0.17B |
| 2025-06-30 | $4.71B | 151 | +13.69% | +14.94% | -1.25% | -0.33B |
| 2025-03-31 | $5.07B | 146 | +9.88% | +8.30% | +1.57% | -0.18B |
| 2024-12-31 | $5.06B | 160 | +16.49% | +24.89% | -8.40% | -0.46B |
| 2024-09-30 | $5.44B | 153 | +23.56% | +36.04% | -12.48% | -0.25B |
| 2024-06-30 | $5.24B | 153 | +8.64% | +24.49% | -15.85% | -0.20B |
| 2024-03-31 | $5.67B | 154 | +21.10% | +29.62% | -8.52% | -0.27B |
| 2023-12-31 | $5.39B | 158 | +11.86% | +26.18% | -14.32% | -0.09B |
| 2023-09-30 | $5.09B | 162 | +17.82% | +21.57% | -3.75% | -0.22B |
| 2023-06-30 | $5.56B | 159 | +17.85% | +19.42% | -1.57% | -0.18B |
| 2023-03-31 | $5.36B | 166 | +1.25% | -7.82% | +9.07% | -0.02B |
| 2022-12-31 | $5.30B | 174 | -5.01% | -18.17% | +13.17% | -0.48B |
| 2022-09-30 | $5.09B | 190 | -6.94% | -15.51% | +8.56% | -0.10B |
| 2022-06-30 | $5.44B | 188 | -2.02% | -10.62% | +8.61% | -0.08B |