Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.73%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.51%
baseline attrition
Rally response
+1.19%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BILState Street SPDR Bloomb | $49M | 9.0% | — | 7.0 yr |
| GOOGLAlphabet Inc. | $27M | 4.9% | — | 8.5 yr |
| CRH.LCRH plc | $16M | 3.0% | — | 2.8 yr |
| WCNWaste Connections, Inc. | $16M | 2.9% | -16.2% | 8.5 yr |
| IDXXIDEXX Laboratories, Inc. | $16M | 2.9% | +33.8% | 8.5 yr |
| COSTCostco Wholesale Corpora | $13M | 2.5% | +5.9% | 8.5 yr |
| WMBThe Williams Companies, | $13M | 2.5% | +25.8% | 6.0 yr |
| AMZNAmazon.com, Inc. | $12M | 2.1% | +9.5% | 7.5 yr |
| AVGOBroadcom Inc. | $11M | 2.0% | +86.0% | 1.0 yr |
| MSFTMicrosoft Corporation | $11M | 2.0% | -0.6% | 8.5 yr |
| HEI-AHEICO Corporation | $10M | 1.9% | — | 6.5 yr |
| MAMastercard Incorporated | $9M | 1.7% | -8.5% | 8.5 yr |
| TBLLInvesco Short Term Treas | $9M | 1.7% | — | 1.0 yr |
| ECLEcolab Inc. | $9M | 1.7% | +6.0% | 1.8 yr |
| CMSCMS Energy Corporation | $9M | 1.6% | +6.4% | 8.5 yr |
Portfolio composition (YoY)
Industry mix
Asset Management14.5%+3.1pp$79M
Semiconductors6.6%+5.3pp$36M
Internet Content & Information5.9%+3.1pp$32M
Aerospace & Defense4.8%-0.9pp$26M
Medical - Diagnostics & Research4.7%+0.1pp$25M
Oil & Gas Midstream4.4%+0.5pp$24M
Construction Materials4.0%+0.5pp$22M
Waste Management3.6%-1.5pp$19M
Regulated Electric3.2%+0.8pp$17M
Financial - Credit Services3.2%+0.3pp$17M
Country
US86.4%-1.5pp
IE5.4%+2.1pp
CA4.4%-0.6pp
Unknown1.6%-1.2pp
GB1.0%+0.9pp
JP0.9%
IL0.1%-0.6pp
MX0.1%
Top 5: 22.7% · Top 10: 33.8% · Top 25: 55.0%
Top buys this quarter · 15
| AVGO Broadcom Inc. | +$7M |
| RPRX Royalty Pharma plcnew | +$6M |
| HON Honeywell International Inc. | +$5M |
| MUFG Mitsubishi UFJ Financial Groupnew | +$5M |
| UPS United Parcel Service, Inc. | +$5M |
| TRGP Targa Resources Corp. | +$5M |
| XOM Exxon Mobil Corporation | +$5M |
| RIO Rio Tinto Group | +$4M |
| SOLS Solstice Advanced Materials Innew | +$4M |
| BKR Baker Hughes Company | +$4M |
Top sells this quarter · 15
| MSFT Microsoft Corporation | −$12M |
| MCO Moody's Corporationexit | −$10M |
| WST West Pharmaceutical Services, exit | −$7M |
| CPRT Copart, Inc.exit | −$6M |
| LNG Cheniere Energy, Inc.exit | −$6M |
| TDG TransDigm Group Incorporated | −$6M |
| AMZN Amazon.com, Inc. | −$5M |
| DHR Danaher Corporation | −$5M |
| COST Costco Wholesale Corporation | −$5M |
| SPGI S&P Global Inc. | −$5M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $543M | 142 | +4.59% | +17.59% | -13.00% | -0.02B |
| 2025-12-31 | $581M | 137 | +10.39% | +17.72% | -7.33% | +0.00B |
| 2025-09-30 | $588M | 141 | +10.46% | +17.52% | -7.06% | -0.01B |
| 2025-06-30 | $588M | 135 | +15.35% | +14.94% | +0.41% | +0.05B |
| 2025-03-31 | $501M | 126 | +7.98% | +8.30% | -0.33% | -0.07B |
| 2024-12-31 | $563M | 129 | +13.96% | +24.89% | -10.92% | -0.00B |
| 2024-09-30 | $573M | 137 | +29.71% | +36.04% | -6.33% | -0.03B |
| 2024-06-30 | $565M | 133 | +16.66% | +24.49% | -7.83% | +0.00B |
| 2024-03-31 | $556M | 143 | +19.44% | +29.62% | -10.18% | +0.01B |
| 2023-12-31 | $507M | 136 | +13.76% | +26.18% | -12.42% | +0.02B |
| 2023-09-30 | $428M | 120 | +5.63% | +21.57% | -15.94% | -0.01B |
| 2023-06-30 | $455M | 124 | +7.93% | +19.42% | -11.49% | -0.01B |
| 2023-03-31 | $449M | 133 | -10.07% | -7.82% | -2.25% | +0.01B |
| 2022-12-31 | $433M | 126 | +67.67% | -18.17% | +85.84% | -0.01B |
| 2022-09-30 | $422M | 120 | -2.29% | -4.93% | +2.64% | -0.01B |
| 2022-06-30 | $446M | 133 | -13.89% | -16.11% | +2.22% | -0.01B |