Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+15.96%
adds when stocks drop
when a holding falls −10%+
Middle response
+4.78%
steady accumulation
Rally response
-5.45%
trims into rallies
when a holding rises +10%+
Top positions · 29
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $152M | 7.2% | — | 8.5 yr |
| FICOFair Isaac Corporation | $151M | 7.1% | -42.1% | 5.8 yr |
| METAMeta Platforms, Inc. | $148M | 7.0% | -0.4% | 8.3 yr |
| MSFTMicrosoft Corporation | $140M | 6.6% | -0.6% | 7.3 yr |
| NVDANVIDIA Corporation | $133M | 6.3% | +60.9% | 2.8 yr |
| NFLXNetflix, Inc. | $111M | 5.2% | +3.1% | 1.3 yr |
| MAMastercard Incorporated | $107M | 5.1% | -8.5% | 9.5 yr |
| VVisa Inc. | $105M | 5.0% | -13.1% | 7.8 yr |
| AONAon plc | $104M | 4.9% | -18.4% | 6.0 yr |
| SPGIS&P Global Inc. | $101M | 4.8% | -15.6% | 5.5 yr |
| CPRTCopart, Inc. | $97M | 4.6% | -41.3% | 9.5 yr |
| UNHUnitedHealth Group Incor | $96M | 4.6% | -46.9% | 7.0 yr |
| AJGArthur J. Gallagher & Co | $95M | 4.5% | -36.6% | 0.8 yr |
| AMZNAmazon.com, Inc. | $93M | 4.4% | +9.5% | 5.8 yr |
| ASMLASML Holding N.V. | $92M | 4.4% | +100.9% | 5.8 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information14.2%+0.0pp$300M
Software - Application11.5%-3.9pp$242M
Semiconductors10.7%+3.1pp$225M
Financial - Data & Stock Exchanges10.2%-2.1pp$216M
Financial - Credit Services10.0%+0.2pp$212M
Insurance - Brokers9.4%+4.7pp$199M
Software - Infrastructure9.3%+1.2pp$196M
Specialty Retail7.4%-2.4pp$157M
Entertainment5.2%+5.0pp$111M
Specialty Business Services4.6%-0.8pp$97M
Country
US90.7%+1.1pp
IE4.9%+0.2pp
NL4.4%-0.3pp
Top 5: 34.2% · Top 10: 59.2% · Top 25: 99.8%
Top buys this quarter · 15
| FICO Fair Isaac Corporation | +$75M |
| ORCL Oracle Corporation | +$55M |
| AJG Arthur J. Gallagher & Co. | +$45M |
| UNH UnitedHealth Group Incorporate | +$21M |
| NFLX Netflix, Inc. | +$17M |
| MKSI MKS Inc.new | +$15M |
| INTU Intuit Inc. | +$90M |
| MSFT Microsoft Corporation | +$140M |
| MA Mastercard Incorporated | +$107M |
| META Meta Platforms, Inc. | +$148M |
Top sells this quarter · 15
| ADBE Adobe Inc.exit | −$53M |
| ICE Intercontinental Exchange, Incexit | −$50M |
| RACE Ferrari N.V.exit | −$38M |
| MSCI MSCI Inc. | −$34M |
| LIN Linde plcexit | −$32M |
| AVGO Broadcom Inc. | −$22M |
| ADP Automatic Data Processing, Incexit | −$16M |
| ASML ASML Holding N.V. | −$83M |
| MCO Moody's Corporation | −$8M |
| SPGI S&P Global Inc. | −$7M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.11B | 29 | -6.57% | +17.59% | -24.16% | -0.01B |
| 2025-12-31 | $2.43B | 32 | +4.23% | +17.72% | -13.49% | +0.24B |
| 2025-09-30 | $2.22B | 30 | +6.55% | +17.52% | -10.96% | +0.10B |
| 2025-06-30 | $2.11B | 32 | +14.10% | +14.94% | -0.84% | -0.02B |
| 2025-03-31 | $1.97B | 32 | +6.89% | +8.30% | -1.41% | +0.13B |
| 2024-12-31 | $1.89B | 30 | +17.19% | +24.89% | -7.70% | +0.10B |
| 2024-09-30 | $1.78B | 29 | +32.69% | +36.04% | -3.34% | +0.14B |
| 2024-06-30 | $1.53B | 30 | +21.55% | +24.49% | -2.95% | +0.30B |
| 2024-03-31 | $1.22B | 29 | +31.92% | +29.62% | +2.30% | +0.27B |
| 2023-12-31 | $885M | 30 | +40.42% | +26.18% | +14.24% | +0.01B |
| 2023-09-30 | $762M | 32 | +36.23% | +21.57% | +14.66% | +0.01B |
| 2023-06-30 | $767M | 33 | +30.90% | +19.42% | +11.47% | -0.01B |
| 2023-03-31 | $705M | 36 | -1.93% | -7.82% | +5.89% | -0.05B |
| 2022-12-31 | $662M | 32 | +10.85% | +7.56% | +3.29% | -0.04B |
| 2022-09-30 | $635M | 32 | -5.46% | -4.93% | -0.53% | +0.02B |
| 2022-06-30 | $648M | 34 | -17.81% | -16.11% | -1.70% | +0.01B |