Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.80%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.26%
baseline attrition
Rally response
-12.11%
trims into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| APPAppLovin Corporation | $76M | 16.1% | +50.2% | 5.0 yr |
| DTDynatrace, Inc. | $61M | 12.9% | -21.6% | 6.8 yr |
| GLBEGlobal-e Online Ltd. | $58M | 12.1% | -13.5% | 2.0 yr |
| SAILSailPoint, Inc. | $57M | 12.0% | -29.4% | 1.3 yr |
| ARXAccelerant Holdings | $53M | 11.3% | — | 0.5 yr |
| APPFAppFolio, Inc. | $53M | 11.1% | -28.2% | 1.0 yr |
| GDDYGoDaddy Inc. | $50M | 10.5% | -54.1% | 8.5 yr |
| WDAYWorkday, Inc. | $44M | 9.2% | -44.4% | 8.5 yr |
| CWANClearwater Analytics Hol | $23M | 4.8% | -11.8% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application54.1%-12.7pp$256M
Software - Infrastructure22.5%+2.4pp$107M
Specialty Retail12.1%-0.9pp$58M
Insurance - Brokers11.3%$53M
Country
US76.6%-10.3pp
IL12.1%-0.9pp
KY11.3%
Top 5: 64.3% · Top 10: 100.0% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $474M | 9 | -4.30% | +17.59% | -21.89% | +0.06B |
| 2025-12-31 | $549M | 9 | +6.90% | +17.72% | -10.82% | +0.05B |
| 2025-09-30 | $512M | 8 | +59.62% | +17.52% | +42.10% | -0.01B |
| 2025-06-30 | $428M | 8 | +60.24% | +14.94% | +45.29% | -0.04B |
| 2025-03-31 | $435M | 10 | +51.60% | +8.30% | +43.29% | +0.02B |
| 2024-12-31 | $495M | 10 | +108.50% | +24.89% | +83.62% | -0.16B |
| 2024-09-30 | $452M | 9 | +70.53% | +36.04% | +34.49% | -0.04B |
| 2024-06-30 | $408M | 9 | +45.35% | +24.49% | +20.86% | +0.01B |
| 2024-03-31 | $390M | 9 | +67.96% | +29.62% | +38.34% | -0.10B |
| 2023-12-31 | $424M | 9 | +63.49% | +26.18% | +37.32% | -0.25B |
| 2023-09-30 | $567M | 10 | +36.33% | +21.57% | +14.77% | -0.01B |
| 2023-06-30 | $558M | 10 | +14.11% | +19.42% | -5.32% | -0.10B |
| 2023-03-31 | $551M | 12 | -30.48% | -7.82% | -22.66% | -0.01B |
| 2022-12-31 | $499M | 12 | -0.51% | +7.56% | -8.07% | -0.03B |
| 2022-09-30 | $526M | 12 | -13.43% | -4.93% | -8.50% | +0.07B |
| 2022-06-30 | $526M | 11 | -27.66% | -16.11% | -11.55% | +0.01B |