Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.81%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.65%
baseline attrition
Rally response
-0.34%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BRK-BBerkshire Hathaway Inc. | $181M | 6.6% | — | 9.5 yr |
| GOOGAlphabet Inc. | $178M | 6.5% | +84.3% | 9.8 yr |
| METAMeta Platforms, Inc. | $176M | 6.4% | -0.4% | 8.0 yr |
| HEI-AHEICO Corporation | $156M | 5.7% | — | 9.8 yr |
| SCHWThe Charles Schwab Corpo | $144M | 5.3% | +21.5% | 7.8 yr |
| FIVEFive Below, Inc. | $141M | 5.2% | +204.9% | 9.3 yr |
| AMEAMETEK, Inc. | $131M | 4.8% | +25.3% | 9.5 yr |
| MEDPMedpace Holdings, Inc. | $123M | 4.5% | +57.6% | 2.8 yr |
| VVisa Inc. | $120M | 4.4% | -13.1% | 10.5 yr |
| IBPInstalled Building Produ | $107M | 3.9% | +56.7% | 4.5 yr |
| PGRThe Progressive Corporat | $105M | 3.8% | -25.5% | 6.8 yr |
| GOOGLAlphabet Inc. | $100M | 3.7% | — | 9.8 yr |
| KEYSKeysight Technologies, I | $91M | 3.3% | +88.5% | 7.3 yr |
| NVRNVR, Inc. | $90M | 3.3% | -9.0% | 7.8 yr |
| BKNGBooking Holdings Inc. | $89M | 3.3% | -96.3% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information16.6%+4.1pp$454M
Insurance - Property & Casualty9.6%-2.0pp$262M
Residential Construction7.2%+0.4pp$197M
Insurance - Diversified6.9%-3.3pp$189M
Aerospace & Defense5.7%-0.1pp$156M
Financial - Credit Services5.5%-0.7pp$151M
Financial - Capital Markets5.3%+2.5pp$144M
Discount Stores5.2%+3.4pp$141M
Electrical Equipment & Parts4.8%-1.4pp$131M
Medical - Diagnostics & Research4.5%+1.7pp$123M
Country
US98.7%+1.9pp
CA0.8%-0.7pp
GB0.3%+0.1pp
TW0.1%+0.0pp
CN0.1%-0.0pp
Unknown0.0%-1.3pp
DK0.0%-0.0pp
Top 5: 30.6% · Top 10: 53.4% · Top 25: 93.4%
Top buys this quarter · 13
| ADP Automatic Data Processing, Incnew | +$85M |
| BFAM Bright Horizons Family Solutio | +$27M |
| SUNB Sunbelt Rentals Holdings Incnew | +$18M |
| AAON AAON, Inc.new | +$17M |
| TWFG TWFG, Inc. Common Stock | +$4M |
| KNSL Kinsale Capital Group, Inc. | +$75M |
| ANET Arista Networks, Inc. | +$52M |
| BLDR Builders FirstSource, Inc. | +$8M |
| JPM JPMorgan Chase & Co. | +$15M |
| FERG Ferguson plc | +$0M |
Top sells this quarter · 15
| AME AMETEK, Inc. | −$79M |
| IBP Installed Building Products, I | −$31M |
| GOOG Alphabet Inc. | −$5M |
| FIVE Five Below, Inc. | −$120M |
| SCHW The Charles Schwab Corporation | −$5M |
| MEDP Medpace Holdings, Inc. | −$3M |
| V Visa Inc. | −$3M |
| META Meta Platforms, Inc. | −$3M |
| KEYS Keysight Technologies, Inc. | −$68M |
| NVR NVR, Inc. | −$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.73B | 51 | +5.63% | +17.59% | -11.96% | +0.01B |
| 2025-12-31 | $3.00B | 50 | +12.76% | +17.72% | -4.96% | -0.03B |
| 2025-09-30 | $2.95B | 52 | +12.76% | +17.52% | -4.76% | -0.10B |
| 2025-06-30 | $2.92B | 55 | +13.55% | +14.94% | -1.39% | -0.02B |
| 2025-03-31 | $2.71B | 54 | -1.94% | +8.30% | -10.24% | +0.06B |
| 2024-12-31 | $2.74B | 62 | +12.73% | +24.89% | -12.16% | +0.04B |
| 2024-09-30 | $2.63B | 52 | +26.79% | +36.04% | -9.25% | +0.13B |
| 2024-06-30 | $2.37B | 50 | +13.32% | +24.49% | -11.17% | +0.06B |
| 2024-03-31 | $2.46B | 53 | +32.27% | +29.62% | +2.65% | +0.09B |
| 2023-12-31 | $2.13B | 59 | +26.01% | +26.18% | -0.17% | +0.00B |
| 2023-09-30 | $1.84B | 59 | +19.11% | +21.57% | -2.45% | +0.05B |
| 2023-06-30 | $1.90B | 59 | +21.21% | +19.42% | +1.79% | +0.09B |
| 2023-03-31 | $1.66B | 60 | -6.94% | -7.82% | +0.88% | -0.06B |
| 2022-12-31 | $1.62B | 66 | -16.37% | -18.17% | +1.81% | +0.01B |
| 2022-09-30 | $1.48B | 63 | -14.82% | -15.51% | +0.69% | +0.02B |
| 2022-06-30 | $1.52B | 63 | -10.70% | -10.62% | -0.08% | +0.03B |