Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-8.07%
trims when stocks drop
when a holding falls −10%+
Middle response
-5.52%
baseline attrition
Rally response
-8.62%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NVDANVIDIA Corporation | $113M | 6.3% | +60.9% | 5.0 yr |
| GOOGLAlphabet Inc. | $74M | 4.1% | — | 5.0 yr |
| AAPLApple Inc. | $73M | 4.1% | +14.7% | 5.0 yr |
| AMATApplied Materials, Inc. | $73M | 4.1% | +137.6% | 3.3 yr |
| LLYEli Lilly and Company | $68M | 3.8% | +12.2% | 3.3 yr |
| AMZNAmazon.com, Inc. | $55M | 3.1% | +9.5% | 5.0 yr |
| CMICummins Inc. | $38M | 2.1% | +74.8% | 3.3 yr |
| JPMJPMorgan Chase & Co. | $37M | 2.1% | +21.8% | 3.3 yr |
| GEGE Aerospace | $37M | 2.1% | +42.5% | 3.3 yr |
| VVisa Inc. | $36M | 2.0% | -13.1% | 5.0 yr |
| ETNEaton Corporation plc | $35M | 2.0% | +33.2% | 3.3 yr |
| SCHWThe Charles Schwab Corpo | $34M | 1.9% | +21.5% | 3.3 yr |
| SHOPShopify Inc. | $30M | 1.7% | +24.2% | 0.3 yr |
| HONHoneywell International | $29M | 1.7% | +9.0% | 3.3 yr |
| ROSTRoss Stores, Inc. | $29M | 1.6% | +71.2% | 3.3 yr |
Portfolio composition (YoY)
Industry mix
Semiconductors13.7%+4.8pp$244M
Internet Content & Information6.6%+0.7pp$118M
Drug Manufacturers - General5.6%+0.6pp$100M
Industrial - Machinery4.9%+3.1pp$87M
Consumer Electronics4.1%+2.5pp$73M
Software - Infrastructure4.0%-2.6pp$71M
Specialty Retail3.7%-3.4pp$66M
Aerospace & Defense2.9%+2.1pp$52M
Software - Application2.8%-0.5pp$49M
Financial - Credit Services2.7%+1.1pp$47M
Country
US92.8%-3.9pp
IE3.3%+2.1pp
CA1.9%+1.7pp
GB1.0%+0.2pp
Unknown0.4%-0.1pp
CH0.2%-0.1pp
SG0.1%+0.1pp
BM0.1%-0.1pp
Top 5: 22.5% · Top 10: 33.9% · Top 25: 57.9%
Top buys this quarter · 15
| CMI Cummins Inc. | +$36M |
| SCHW The Charles Schwab Corporation | +$31M |
| SHOP Shopify Inc.new | +$30M |
| HON Honeywell International Inc. | +$28M |
| ILMN Illumina, Inc. | +$28M |
| ROST Ross Stores, Inc. | +$28M |
| LECO Lincoln Electric Holdings, Inc | +$24M |
| V Visa Inc. | +$24M |
| NVDA NVIDIA Corporation | +$12M |
| AMAT Applied Materials, Inc. | +$8M |
Top sells this quarter · 15
| AVGO Broadcom Inc. | −$66M |
| MSFT Microsoft Corporation | −$46M |
| ORLY O'Reilly Automotive, Inc. | −$31M |
| MPWR Monolithic Power Systems, Inc. | −$29M |
| AMZN Amazon.com, Inc. | −$27M |
| DIS The Walt Disney Company | −$23M |
| COF Capital One Financial Corporat | −$21M |
| META Meta Platforms, Inc. | −$19M |
| XYL Xylem Inc. | −$17M |
| BLD TopBuild Corp.exit | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.78B | 562 | +12.64% | +17.59% | -4.95% | -0.22B |
| 2025-12-31 | $2.08B | 572 | +16.16% | +17.72% | -1.55% | -0.15B |
| 2025-09-30 | $2.23B | 570 | +14.32% | +17.52% | -3.20% | -0.04B |
| 2025-06-30 | $2.13B | 571 | +16.52% | +14.94% | +1.58% | +0.04B |
| 2025-03-31 | $1.90B | 642 | +5.37% | +8.30% | -2.93% | +0.76B |
| 2024-12-31 | $1.15B | 627 | +13.78% | +24.89% | -11.10% | -0.04B |
| 2024-09-30 | $1.21B | 635 | +27.80% | +36.04% | -8.24% | -0.03B |
| 2024-06-30 | $1.15B | 644 | +13.84% | +24.49% | -10.65% | -0.11B |
| 2024-03-31 | $1.27B | 654 | +19.69% | +29.62% | -9.93% | +0.04B |
| 2023-12-31 | $1.15B | 659 | +11.11% | +11.64% | -0.53% | -0.05B |
| 2023-09-30 | $1.08B | 680 | -3.72% | -3.22% | -0.50% | -0.07B |
| 2023-06-30 | $1.19B | 672 | +4.81% | +8.68% | -3.87% | -0.01B |
| 2023-03-31 | $1.15B | 671 | — | — | — | +1.00B |
| 2020-06-30 | $145M | 31 | — | — | — | +0.02B |
| 2020-03-31 | $127M | 33 | — | — | — | -0.05B |
| 2019-12-31 | $179M | 37 | — | — | — | +0.01B |