Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-17.76%
trims when stocks drop
when a holding falls −10%+
Middle response
-0.06%
baseline attrition
Rally response
+1.22%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MSFTMicrosoft Corporation | $15M | 7.7% | -0.6% | 10.3 yr |
| GOOGLAlphabet Inc. | $13M | 6.9% | — | 10.3 yr |
| AMZNAmazon.com, Inc. | $13M | 6.9% | +9.5% | 10.5 yr |
| MAMastercard Incorporated | $12M | 6.1% | -8.5% | 10.3 yr |
| METAMeta Platforms, Inc. | $9M | 4.4% | -0.4% | 5.3 yr |
| NVDANVIDIA Corporation | $7M | 3.4% | +60.9% | 4.0 yr |
| GEGE Aerospace | $7M | 3.4% | +42.5% | 2.5 yr |
| VVisa Inc. | $7M | 3.4% | -13.1% | 7.0 yr |
| TSMTaiwan Semiconductor Man | $6M | 3.3% | +105.6% | 4.3 yr |
| MSMorgan Stanley | $5M | 2.7% | +44.8% | 1.5 yr |
| PWRQuanta Services, Inc. | $5M | 2.7% | +116.2% | 2.3 yr |
| RNMBYRheinmetall AG | $5M | 2.6% | — | 1.8 yr |
| NFLXNetflix, Inc. | $5M | 2.6% | +3.1% | 2.3 yr |
| ASMLASML Holding N.V. | $5M | 2.5% | +100.9% | 2.8 yr |
| CMGChipotle Mexican Grill, | $5M | 2.5% | -36.2% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information11.3%+2.1pp$22M
Semiconductors9.9%+6.1pp$19M
Medical - Devices9.8%+4.4pp$19M
Financial - Credit Services9.5%-2.2pp$18M
Specialty Retail8.9%+2.2pp$17M
Aerospace & Defense8.4%-2.7pp$16M
Software - Infrastructure7.7%-0.9pp$15M
Engineering & Construction4.3%+1.7pp$8M
Insurance - Property & Casualty3.4%+0.8pp$7M
Gambling, Resorts & Casinos3.0%+0.9pp$6M
Country
US88.5%-3.8pp
TW3.3%
DE2.6%-1.6pp
NL2.5%+1.7pp
IE1.9%
Unknown1.1%-1.4pp
Top 5: 32.0% · Top 10: 48.1% · Top 25: 81.7%
Top buys this quarter · 15
| BSX Boston Scientific Corporationnew | +$3M |
| ISRG Intuitive Surgical, Inc. | +$2M |
| VVV Valvoline Inc. | +$2M |
| NFLX Netflix, Inc. | +$1M |
| PLMR Palomar Holdings, Inc. | +$1M |
| PODD Insulet Corporation | +$3M |
| SPGI S&P Global Inc. | +$4M |
| TTEK Tetra Tech, Inc. | +$3M |
| RKT Rocket Companies, Inc. | +$4M |
| ETN Eaton Corporation plc | +$0M |
Top sells this quarter · 15
| SCCO Southern Copper Corporation | −$3M |
| WM Waste Management, Inc.exit | −$4M |
| INTU Intuit Inc.exit | −$4M |
| FNV Franco-Nevada Corporationexit | −$3M |
| CWAN Clearwater Analytics Holdings,exit | −$2M |
| MSFT Microsoft Corporation | −$2M |
| UNH UnitedHealth Group Incorporateexit | −$2M |
| CMG Chipotle Mexican Grill, Inc. | −$1M |
| GE GE Aerospace | −$1M |
| PEN Penumbra, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $195M | 48 | +1.89% | +17.59% | -15.70% | -0.01B |
| 2025-12-31 | $230M | 51 | +9.29% | +17.72% | -8.43% | +0.00B |
| 2025-09-30 | $228M | 51 | +8.35% | +17.52% | -9.17% | -0.00B |
| 2025-06-30 | $228M | 52 | +10.61% | +14.94% | -4.33% | -0.00B |
| 2025-03-31 | $202M | 51 | -1.42% | +8.30% | -9.72% | -0.00B |
| 2024-12-31 | $209M | 47 | +12.53% | +24.89% | -12.35% | +0.00B |
| 2024-09-30 | $211M | 50 | +26.75% | +36.04% | -9.28% | -0.03B |
| 2024-06-30 | $234M | 49 | +17.50% | +24.49% | -6.99% | +0.01B |
| 2024-03-31 | $226M | 49 | +27.61% | +29.62% | -2.01% | +0.00B |
| 2023-12-31 | $202M | 66 | +18.49% | +26.18% | -7.69% | +0.03B |
| 2023-09-30 | $152M | 41 | +11.64% | +21.57% | -9.92% | +0.00B |
| 2023-06-30 | $160M | 39 | +15.23% | +19.42% | -4.20% | +0.01B |
| 2023-03-31 | $140M | 34 | -13.61% | -7.82% | -5.79% | -0.01B |
| 2022-12-31 | $141M | 45 | -19.83% | -18.17% | -1.65% | -0.01B |
| 2022-09-30 | $140M | 46 | -14.87% | -15.51% | +0.64% | -0.02B |
| 2022-06-30 | $163M | 42 | -12.39% | -10.62% | -1.77% | -0.05B |