Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.48%
adds when stocks drop
when a holding falls −10%+
Middle response
-4.55%
baseline attrition
Rally response
-6.24%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $484M | 10.4% | — | 1.5 yr |
| VVisa Inc. | $352M | 7.6% | -13.1% | 1.5 yr |
| MSFTMicrosoft Corporation | $334M | 7.2% | -0.6% | 1.5 yr |
| HEI-AHEICO Corporation | $259M | 5.6% | — | 1.5 yr |
| KLACKLA Corporation | $252M | 5.4% | +118.2% | 1.5 yr |
| APHAmphenol Corporation | $247M | 5.3% | +93.6% | 1.5 yr |
| AMZNAmazon.com, Inc. | $246M | 5.3% | +9.5% | 1.3 yr |
| MCOMoody's Corporation | $197M | 4.3% | -5.6% | 1.5 yr |
| AZOAutoZone, Inc. | $189M | 4.1% | -11.4% | 1.5 yr |
| CDNSCadence Design Systems, | $186M | 4.0% | +9.3% | 1.5 yr |
| AAPLApple Inc. | $186M | 4.0% | +14.7% | 1.5 yr |
| BKNGBooking Holdings Inc. | $184M | 4.0% | -96.3% | 1.5 yr |
| ADSKAutodesk, Inc. | $181M | 3.9% | -8.6% | 1.5 yr |
| TXNTexas Instruments Incorp | $176M | 3.8% | +11.4% | 1.5 yr |
| TMOThermo Fisher Scientific | $168M | 3.6% | -0.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application14.5%+1.3pp$673M
Internet Content & Information10.4%+2.5pp$484M
Specialty Retail9.4%+1.1pp$434M
Semiconductors9.3%+1.7pp$428M
Financial - Credit Services7.6%-2.3pp$352M
Software - Infrastructure7.4%-1.0pp$344M
Aerospace & Defense5.6%-0.0pp$259M
Hardware, Equipment & Parts5.3%+0.9pp$247M
Financial - Data & Stock Exchanges5.1%-0.2pp$237M
Medical - Diagnostics & Research4.7%+0.6pp$219M
Country
US100.0%+0.0pp
Top 5: 36.3% · Top 10: 59.3% · Top 25: 96.9%
Top buys this quarter · 3
| TYL Tyler Technologies, Inc. | +$159M |
| VEEV Veeva Systems Inc. | +$27M |
| HEI-A HEICO Corporation | +$259M |
Top sells this quarter · 15
| KLAC KLA Corporation | −$55M |
| APH Amphenol Corporation | −$37M |
| AAPL Apple Inc. | −$33M |
| MSFT Microsoft Corporation | −$32M |
| V Visa Inc. | −$30M |
| CDNS Cadence Design Systems, Inc. | −$23M |
| TXN Texas Instruments Incorporated | −$174M |
| AMZN Amazon.com, Inc. | −$13M |
| COST Costco Wholesale Corporation | −$137M |
| TMO Thermo Fisher Scientific Inc. | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.63B | 32 | -2.09% | +17.59% | -19.69% | -0.18B |
| 2025-12-31 | $5.68B | 32 | +11.49% | +17.72% | -6.23% | -0.10B |
| 2025-09-30 | $5.87B | 33 | +3.62% | +8.12% | -4.50% | +0.25B |
| 2025-06-30 | $5.42B | 35 | +13.35% | +10.78% | +2.57% | -0.29B |
| 2025-03-31 | $5.04B | 35 | -3.67% | -4.27% | +0.60% | -0.14B |
| 2024-12-31 | $5.38B | 36 | — | — | — | — |