Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.79%
baseline attrition
Rally response
-15.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $59M | 13.8% | — | 2.0 yr |
| MPWRMonolithic Power Systems | $56M | 13.2% | +89.6% | 7.0 yr |
| — | $36M | 8.5% | — | 2.0 yr |
| KAIKadant Inc. | $33M | 7.8% | -12.8% | 1.0 yr |
| ITTITT Inc. | $28M | 6.5% | +48.7% | 0.5 yr |
| NVTnVent Electric plc | $20M | 4.7% | +127.9% | 2.0 yr |
| LFUSLittelfuse, Inc. | $19M | 4.5% | +74.5% | 10.5 yr |
| PRIMPrimoris Services Corpor | $16M | 3.7% | +149.7% | 2.0 yr |
| ATRCAtriCure, Inc. | $11M | 2.6% | -11.6% | 2.0 yr |
| LMATLeMaitre Vascular, Inc. | $11M | 2.5% | +31.3% | 6.5 yr |
| PWPPerella Weinberg Partner | $8M | 1.8% | +0.1% | 3.0 yr |
| BELFBBel Fuse Inc. | $7M | 1.7% | — | 1.8 yr |
| PJTPJT Partners Inc. | $7M | 1.7% | +2.0% | 6.3 yr |
| TECHBio-Techne Corporation | $7M | 1.7% | -10.4% | 3.8 yr |
| PTRNPattern Group Inc. Serie | $6M | 1.5% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Unknown22.5%+12.7pp$96M
Industrial - Machinery15.5%+14.6pp$66M
Semiconductors13.3%+6.8pp$57M
Hardware, Equipment & Parts7.2%+4.5pp$31M
Medical - Instruments & Supplies5.4%+5.3pp$23M
Financial - Capital Markets5.2%+2.1pp$22M
Electrical Equipment & Parts4.7%+2.9pp$20M
Engineering & Construction4.0%-0.3pp$17M
Software - Application3.1%-11.4pp$13M
Medical - Care Facilities2.1%+0.6pp$9M
Country
US69.8%+8.8pp
Unknown22.5%+12.7pp
GB4.7%+2.0pp
MX1.3%+0.8pp
CA0.5%-9.0pp
IE0.4%-4.3pp
KY0.4%-1.7pp
GG0.2%-0.0pp
Top 5: 49.9% · Top 10: 67.9% · Top 25: 86.0%
Top buys this quarter · 15
| KAI Kadant Inc. | +$25M |
| PTRN Pattern Group Inc. Series A Co | +$6M |
| ATRC AtriCure, Inc. | +$11M |
| VSEC VSE Corporation | +$1M |
| KIDS OrthoPediatrics Corp. | +$1M |
| CODA Coda Octopus Group, Inc.new | +$1M |
| BMI Badger Meter, Inc.new | +$1M |
| ICLR ICON Public Limited Company | +$2M |
| FTV Fortive Corporationnew | +$0M |
| RXST RxSight, Inc. | +$3M |
Top sells this quarter · 15
| FROG JFrog Ltd. | −$52M |
| MPWR Monolithic Power Systems, Inc. | −$23M |
| DSGX The Descartes Systems Group In | −$22M |
| ARX Accelerant Holdings | −$21M |
| SLAB Silicon Laboratories Inc.exit | −$20M |
| NET Cloudflare, Inc.exit | −$17M |
| POWI Power Integrations, Inc. | −$15M |
| LFUS Littelfuse, Inc. | −$12M |
| MAMA Mama's Creations, Inc. | −$10M |
| STN Stantec Inc.exit | −$10M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $427M | 86 | +19.73% | +17.59% | +2.14% | -0.31B |
| 2025-12-31 | $743M | 102 | +5.97% | +17.72% | -11.75% | -0.02B |
| 2025-09-30 | $745M | 104 | +9.49% | +17.52% | -8.03% | -0.14B |
| 2025-06-30 | $830M | 104 | +3.25% | +14.94% | -11.69% | -0.16B |
| 2025-03-31 | $901M | 111 | -11.21% | +8.30% | -19.52% | -0.09B |
| 2024-12-31 | $1.13B | 125 | -2.13% | +24.89% | -27.02% | -0.15B |
| 2024-09-30 | $1.21B | 133 | +12.27% | +36.04% | -23.77% | -0.06B |
| 2024-06-30 | $1.25B | 131 | +10.72% | +24.49% | -13.78% | +0.06B |
| 2024-03-31 | $1.26B | 121 | +17.44% | +29.62% | -12.18% | -0.11B |
| 2023-12-31 | $1.42B | 114 | +26.76% | +26.18% | +0.59% | -0.19B |
| 2023-09-30 | $1.33B | 112 | +4.70% | +21.57% | -16.86% | -0.13B |
| 2023-06-30 | $1.47B | 111 | +3.99% | +19.42% | -15.43% | -0.18B |
| 2023-03-31 | $1.64B | 110 | -18.13% | -7.82% | -10.31% | -0.12B |
| 2022-12-31 | $1.69B | 113 | +0.29% | +7.56% | -7.27% | +0.05B |
| 2022-09-30 | $1.63B | 116 | -1.02% | -4.93% | +3.91% | +0.04B |
| 2022-06-30 | $1.61B | 113 | -20.82% | -16.11% | -4.71% | -0.06B |