Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-14.30%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.98%
baseline attrition
Rally response
-3.33%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $239M | 8.7% | +84.3% | 11.5 yr |
| SPGIS&P Global Inc. | $180M | 6.6% | -15.6% | 8.0 yr |
| NFLXNetflix, Inc. | $171M | 6.2% | +3.1% | 8.5 yr |
| AVGOBroadcom Inc. | $165M | 6.0% | +86.0% | 2.5 yr |
| MAMastercard Incorporated | $161M | 5.9% | -8.5% | 11.5 yr |
| MCDMcDonald's Corporation | $154M | 5.6% | +1.8% | 10.5 yr |
| SYKStryker Corporation | $142M | 5.2% | -11.1% | 10.5 yr |
| VVisa Inc. | $142M | 5.2% | -13.1% | 11.5 yr |
| MSFTMicrosoft Corporation | $141M | 5.1% | -0.6% | 10.3 yr |
| AJGArthur J. Gallagher & Co | $141M | 5.1% | -36.6% | 2.5 yr |
| GEGE Aerospace | $139M | 5.0% | +42.5% | 3.8 yr |
| AMZNAmazon.com, Inc. | $132M | 4.8% | +9.5% | 10.3 yr |
| CDNSCadence Design Systems, | $128M | 4.6% | +9.3% | 5.5 yr |
| APHAmphenol Corporation | $109M | 3.9% | +93.6% | 1.3 yr |
| CTASCintas Corporation | $100M | 3.6% | -17.0% | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services11.0%-1.8pp$303M
Internet Content & Information10.0%+2.0pp$276M
Asset Management7.3%+2.8pp$202M
Financial - Data & Stock Exchanges6.6%+0.8pp$180M
Semiconductors6.5%+6.4pp$180M
Entertainment6.2%-0.8pp$171M
Restaurants5.6%+1.0pp$154M
Aerospace & Defense5.4%+0.2pp$148M
Medical - Devices5.2%-0.6pp$144M
Software - Infrastructure5.1%-3.2pp$142M
Country
US99.4%-0.3pp
CA0.2%+0.1pp
TW0.2%
GB0.1%+0.0pp
Unknown0.0%+0.0pp
DE0.0%-0.0pp
NO0.0%
UY0.0%
Top 5: 33.3% · Top 10: 59.5% · Top 25: 93.0%
Top buys this quarter · 15
| CTAS Cintas Corporation | +$96M |
| NFLX Netflix, Inc. | +$72M |
| WST West Pharmaceutical Services, new | +$64M |
| MCD McDonald's Corporation | +$30M |
| AVGO Broadcom Inc. | +$28M |
| GRBK Green Brick Partners, Inc.new | +$3M |
| NVDA NVIDIA Corporation | +$1M |
| CROX Crocs, Inc.new | +$1M |
| MCK McKesson Corporation | +$1M |
| AGI Alamos Gold Inc.new | +$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.75B | 226 | -1.55% | +17.59% | -19.15% | -0.15B |
| 2025-12-31 | $3.25B | 222 | +8.92% | +17.72% | -8.80% | -0.30B |
| 2025-09-30 | $3.53B | 219 | +9.99% | +17.52% | -7.53% | -0.07B |
| 2025-06-30 | $3.44B | 212 | +5.63% | +14.94% | -9.31% | +0.45B |
| 2025-03-31 | $2.85B | 189 | +7.82% | +8.30% | -0.48% | -0.67B |
| 2024-12-31 | $3.57B | 218 | +13.67% | +24.89% | -11.22% | -0.28B |
| 2024-09-30 | $3.78B | 216 | +23.88% | +36.04% | -12.16% | +0.04B |
| 2024-06-30 | $3.74B | 225 | +18.58% | +24.49% | -5.92% | +2.06B |
| 2024-03-31 | $1.56B | 176 | +24.37% | +29.62% | -5.26% | -1.99B |
| 2023-12-31 | $3.42B | 232 | +34.92% | +26.18% | +8.75% | +2.17B |
| 2023-09-30 | $1.13B | 247 | +28.79% | +21.57% | +7.22% | -1.50B |
| 2023-06-30 | $2.74B | 199 | +24.73% | +19.42% | +5.30% | +0.98B |
| 2023-03-31 | $1.56B | 176 | -6.66% | -7.82% | +1.16% | +0.08B |
| 2022-12-31 | $1.32B | 175 | -20.96% | -18.17% | -2.78% | -0.06B |
| 2022-09-30 | $1.30B | 193 | -17.11% | -15.51% | -1.60% | -1.02B |
| 2022-06-30 | $2.50B | 250 | -10.21% | -10.62% | +0.41% | -0.23B |