Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.08%
adds when stocks drop
when a holding falls −10%+
Middle response
-11.41%
baseline attrition
Rally response
-27.05%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CARTInstacart (Maplebear Inc | $845M | 7.5% | -6.1% | 2.8 yr |
| MELIMercadoLibre, Inc. | $646M | 5.8% | -11.4% | 1.3 yr |
| — | $536M | 4.8% | — | 0.8 yr |
| DHRDanaher Corporation | $437M | 3.9% | -7.1% | 4.3 yr |
| FLSFlowserve Corporation | $432M | 3.8% | +52.2% | 1.0 yr |
| USFDUS Foods Holding Corp. | $395M | 3.5% | +40.9% | 1.3 yr |
| CLHClean Harbors, Inc. | $384M | 3.4% | +45.5% | 1.3 yr |
| AMZNAmazon.com, Inc. | $376M | 3.4% | +9.5% | 6.5 yr |
| NUNu Holdings Ltd. | $372M | 3.3% | +40.3% | 2.3 yr |
| TMOThermo Fisher Scientific | $356M | 3.2% | -0.9% | 0.3 yr |
| SGISomnigroup International | $347M | 3.1% | +24.4% | 2.8 yr |
| TXNTexas Instruments Incorp | $340M | 3.0% | +11.4% | 0.5 yr |
| SESea Limited | $336M | 3.0% | -36.5% | 0.8 yr |
| RDDTReddit, Inc. | $331M | 2.9% | +28.4% | 1.3 yr |
| KRCKilroy Realty Corporatio | $318M | 2.8% | -10.1% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Specialty Retail21.6%+4.0pp$2.42B
Semiconductors10.1%+3.0pp$1.13B
Internet Content & Information7.5%+4.7pp$847M
Medical - Diagnostics & Research7.1%+5.3pp$793M
Industrial - Machinery5.3%$592M
Unknown4.8%+2.3pp$536M
Software - Application3.7%-4.5pp$412M
Food Distribution3.5%+2.2pp$395M
Waste Management3.4%+2.8pp$384M
Banks - Diversified3.3%-2.9pp$372M
Country
US75.2%-20.7pp
UY5.8%
Unknown4.8%+2.3pp
BR3.3%+1.8pp
SG3.0%
KR2.0%
LU1.5%
IE1.4%
Top 5: 25.8% · Top 10: 42.5% · Top 25: 80.0%
Top buys this quarter · 15
| TMO Thermo Fisher Scientific Inc.new | +$356M |
| DHR Danaher Corporation | +$331M |
| MELI MercadoLibre, Inc. | +$258M |
| TXN Texas Instruments Incorporated | +$246M |
| NU Nu Holdings Ltd. | +$226M |
| CPNG Coupang, Inc.new | +$219M |
| DASH DoorDash, Inc.new | +$216M |
| AVGO Broadcom Inc. | +$193M |
| MLM Martin Marietta Materials, Incnew | +$190M |
| CLS Celestica Inc.new | +$153M |
Top sells this quarter · 15
| CLH Clean Harbors, Inc. | −$414M |
| ENTG Entegris, Inc.exit | −$292M |
| LIN Linde plcexit | −$240M |
| SATS EchoStar Corporationexit | −$217M |
| META Meta Platforms, Inc.exit | −$215M |
| ASML ASML Holding N.V. | −$202M |
| SHW The Sherwin-Williams Company | −$157M |
| SNPS Synopsys, Inc.exit | −$150M |
| XPO XPO Logistics, Inc. | −$145M |
| FLS Flowserve Corporation | −$131M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $11.23B | 44 | +18.77% | +17.59% | +1.18% | +1.07B |
| 2025-12-31 | $10.70B | 42 | +19.68% | +17.72% | +1.97% | +1.60B |
| 2025-09-30 | $8.71B | 38 | +20.80% | +17.52% | +3.28% | +1.01B |
| 2025-06-30 | $7.20B | 33 | +27.16% | +14.94% | +12.22% | -0.12B |
| 2025-03-31 | $6.53B | 41 | +15.07% | +8.30% | +6.77% | +0.77B |
| 2024-12-31 | $6.02B | 35 | +38.39% | +24.89% | +13.50% | +0.56B |
| 2024-09-30 | $5.18B | 34 | +43.00% | +36.04% | +6.96% | -1.49B |
| 2024-06-30 | $5.93B | 35 | +26.69% | +24.49% | +2.20% | -0.74B |
| 2024-03-31 | $6.58B | 34 | +36.72% | +29.62% | +7.10% | +0.03B |
| 2023-12-31 | $5.69B | 28 | +27.27% | +26.18% | +1.09% | -1.87B |
| 2023-09-30 | $6.94B | 37 | +11.95% | +21.57% | -9.62% | +1.77B |
| 2023-06-30 | $5.20B | 38 | +17.05% | +19.42% | -2.38% | -0.62B |
| 2023-03-31 | $5.31B | 35 | -29.49% | -7.82% | -21.67% | +0.09B |
| 2022-12-31 | $4.88B | 30 | -4.15% | +7.56% | -11.71% | -0.38B |
| 2022-09-30 | $5.48B | 33 | +4.14% | -4.93% | +9.07% | +1.08B |
| 2022-06-30 | $4.22B | 24 | -34.03% | -16.11% | -17.92% | -1.38B |