Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.64%
adds when stocks drop
when a holding falls −10%+
Middle response
-9.18%
baseline attrition
Rally response
-17.66%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ASGNASGN Incorporated | $17M | 6.7% | -38.6% | 1.5 yr |
| CUKCarnival Corporation & p | $17M | 6.5% | +47.7% | 0.8 yr |
| TELTE Connectivity Ltd. | $16M | 6.2% | +50.0% | 0.5 yr |
| NCLHNorwegian Cruise Line Ho | $16M | 6.2% | -1.4% | 1.0 yr |
| CBRECBRE Group, Inc. | $16M | 6.2% | +3.6% | 0.5 yr |
| JLLJones Lang LaSalle Incor | $15M | 5.9% | +22.8% | 1.0 yr |
| MORNMorningstar, Inc. | $15M | 5.9% | -43.2% | 1.0 yr |
| MSFTMicrosoft Corporation | $15M | 5.9% | -0.6% | 2.3 yr |
| METAMeta Platforms, Inc. | $15M | 5.8% | -0.4% | 5.8 yr |
| OBDCBlue Owl Capital Corpora | $15M | 5.7% | -17.8% | 0.3 yr |
| ARESAres Management Corporat | $14M | 5.7% | -23.1% | 1.8 yr |
| COHRCoherent, Inc. | $14M | 5.4% | +266.8% | 0.5 yr |
| CRDOCredo Technology Group H | $14M | 5.3% | +133.7% | 0.3 yr |
| AMZNAmazon.com, Inc. | $13M | 5.2% | +9.5% | 6.5 yr |
| HHHHoward Hughes Holdings I | $12M | 4.6% | -14.6% | 0.8 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts14.3%$36M
Real Estate - Services12.1%$31M
Software - Infrastructure8.9%-6.1pp$23M
Asset Management8.1%-1.2pp$21M
Information Technology Services6.7%$17M
Leisure6.5%$17M
Travel Services6.2%$16M
Financial - Data & Stock Exchanges5.9%$15M
Internet Content & Information5.8%-13.2pp$15M
Financial - Credit Services5.7%+5.2pp$15M
Country
US89.8%+7.8pp
IE6.2%
GB2.6%
KY0.7%-3.7pp
BR0.7%+0.1pp
Top 5: 31.7% · Top 10: 60.9% · Top 25: 100.0%
Top buys this quarter · 15
| OBDC Blue Owl Capital Corporationnew | +$18M |
| META Meta Platforms, Inc. | +$14M |
| MORN Morningstar, Inc. | +$14M |
| CRDO Credo Technology Group Holdingnew | +$14M |
| JLL Jones Lang LaSalle Incorporate | +$9M |
| ARES Ares Management Corporation | +$9M |
| MSFT Microsoft Corporation | +$8M |
| CBRE CBRE Group, Inc. | +$8M |
| ARM Arm Holdings plc American Deponew | +$7M |
| BX Blackstone Inc.new | +$6M |
Top sells this quarter · 15
| VRT Vertiv Holdings Coexit | −$24M |
| PRIM Primoris Services Corporationexit | −$17M |
| FLR Fluor Corporationexit | −$15M |
| GVA Granite Construction Incorpora | −$14M |
| GEV GE Vernova Inc.exit | −$14M |
| NKE NIKE, Inc.exit | −$12M |
| WEX WEX Inc. | −$12M |
| SPGI S&P Global Inc.exit | −$11M |
| J Jacobs Solutions Inc.exit | −$10M |
| STNE StoneCo Ltd. | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $255M | 24 | +25.45% | +17.59% | +7.85% | -0.02B |
| 2025-12-31 | $293M | 30 | +22.45% | +17.72% | +4.73% | -0.05B |
| 2025-09-30 | $337M | 27 | +26.70% | +17.52% | +9.18% | +0.07B |
| 2025-06-30 | $254M | 25 | +37.07% | +14.94% | +22.13% | +0.05B |
| 2025-03-31 | $162M | 26 | +3.65% | +8.30% | -4.66% | +0.04B |
| 2024-12-31 | $132M | 24 | +17.45% | +24.89% | -7.44% | -0.11B |
| 2024-09-30 | $225M | 27 | +28.30% | +36.04% | -7.74% | -0.05B |
| 2024-06-30 | $243M | 24 | +11.53% | +24.49% | -12.96% | -0.05B |
| 2024-03-31 | $315M | 22 | +33.02% | +29.62% | +3.40% | -0.02B |
| 2023-12-31 | $317M | 22 | +35.12% | +26.18% | +8.94% | -0.04B |
| 2023-09-30 | $311M | 22 | +22.24% | +21.57% | +0.67% | -0.04B |
| 2023-06-30 | $358M | 23 | +17.91% | +19.42% | -1.52% | -0.03B |
| 2023-03-31 | $348M | 23 | -15.67% | -7.82% | -7.85% | +0.06B |
| 2022-12-31 | $271M | 23 | +4.86% | +7.56% | -2.70% | -0.10B |
| 2022-09-30 | $358M | 22 | -6.19% | -4.93% | -1.26% | +0.03B |
| 2022-06-30 | $350M | 21 | -20.11% | -16.11% | -4.00% | -0.07B |