Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.94%
adds when stocks drop
when a holding falls −10%+
Middle response
-5.12%
baseline attrition
Rally response
-21.39%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CRMSalesforce, Inc. | $72M | 5.5% | -30.2% | 0.8 yr |
| MSFTMicrosoft Corporation | $71M | 5.4% | -0.6% | 5.5 yr |
| SLFSun Life Financial Inc. | $70M | 5.4% | +14.0% | 6.3 yr |
| RCIRogers Communications In | $62M | 4.8% | +50.2% | 6.0 yr |
| CNICanadian National Railwa | $62M | 4.7% | +8.2% | 5.0 yr |
| GOOGLAlphabet Inc. | $61M | 4.7% | — | 6.3 yr |
| BMOBank of Montreal | $60M | 4.5% | +47.5% | 6.5 yr |
| CMCanadian Imperial Bank o | $58M | 4.4% | +73.0% | 6.5 yr |
| — | $57M | 4.3% | — | 3.0 yr |
| BNSThe Bank of Nova Scotia | $56M | 4.3% | +52.4% | 6.5 yr |
| OTEXOpen Text Corporation | $54M | 4.1% | -8.7% | 4.0 yr |
| AMZNAmazon.com, Inc. | $52M | 4.0% | +9.5% | 1.0 yr |
| RYRoyal Bank of Canada | $52M | 4.0% | +48.2% | 6.5 yr |
| MFCManulife Financial Corpo | $52M | 4.0% | +15.0% | 2.8 yr |
| ACNAccenture plc | $51M | 3.9% | -35.6% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Banks - Diversified18.3%-2.4pp$240M
Software - Application10.8%+4.4pp$141M
Insurance - Diversified5.6%-0.2pp$73M
Software - Infrastructure5.4%+1.9pp$71M
Telecommunications Services5.1%-0.9pp$67M
Financial - Credit Services5.1%+4.4pp$66M
Railroads5.0%+0.2pp$66M
Internet Content & Information4.9%-1.2pp$64M
Unknown4.6%+1.4pp$60M
Specialty Retail4.0%$52M
Country
CA42.2%-2.9pp
US41.6%-3.0pp
IE5.0%+4.1pp
Unknown4.6%+1.4pp
GB1.2%+0.8pp
MX1.2%+0.4pp
CH0.9%+0.1pp
CN0.9%-0.1pp
Top 5: 25.8% · Top 10: 48.1% · Top 25: 85.7%
Top buys this quarter · 15
| MSFT Microsoft Corporation | +$40M |
| ADP Automatic Data Processing, Incnew | +$37M |
| CRM Salesforce, Inc. | +$31M |
| V Visa Inc. | +$29M |
| MA Mastercard Incorporated | +$29M |
| ACN Accenture plc | +$16M |
| OTEX Open Text Corporation | +$54M |
| AZN AstraZeneca PLCnew | +$12M |
| HD The Home Depot, Inc. | +$11M |
| AMZN Amazon.com, Inc. | +$7M |
Top sells this quarter · 15
| FDX FedEx Corporation | −$64M |
| MGA Magna International Inc. | −$60M |
| CM Canadian Imperial Bank of Comm | −$17M |
| BNS The Bank of Nova Scotia | −$12M |
| ODFL Old Dominion Freight Line, Incexit | −$4M |
| BMO Bank of Montreal | −$3M |
| CARR Carrier Global Corporationexit | −$3M |
| UNH UnitedHealth Group Incorporate | −$2M |
| DPZ Domino's Pizza, Inc. | −$2M |
| RY Royal Bank of Canada | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.31B | 105 | +18.72% | +17.59% | +1.13% | +0.07B |
| 2025-12-31 | $1.30B | 100 | +23.10% | +17.72% | +5.38% | +0.00B |
| 2025-09-30 | $1.23B | 101 | +11.36% | +17.52% | -6.16% | -0.14B |
| 2025-06-30 | $1.28B | 101 | +16.09% | +14.94% | +1.15% | +0.00B |
| 2025-03-31 | $1.16B | 100 | -2.06% | +8.30% | -10.36% | +0.98B |
| 2024-12-31 | $178M | 82 | +1.61% | +24.89% | -23.27% | -1.01B |
| 2024-09-30 | $1.24B | 92 | +16.84% | +36.04% | -19.19% | -0.05B |
| 2024-06-30 | $1.15B | 87 | -1.19% | +24.49% | -25.68% | +0.02B |
| 2024-03-31 | $1.22B | 82 | +12.31% | +29.62% | -17.32% | -0.12B |
| 2023-12-31 | $1.32B | 82 | +17.79% | +26.18% | -8.38% | -0.01B |
| 2023-09-30 | $1.20B | 72 | +18.99% | +21.57% | -2.58% | +0.03B |
| 2023-06-30 | $1.24B | 69 | +11.96% | +19.42% | -7.46% | -0.04B |
| 2023-03-31 | $1.22B | 70 | -5.41% | -7.82% | +2.41% | -0.01B |
| 2022-12-31 | $1.15B | 66 | +11.64% | +7.56% | +4.08% | +0.03B |
| 2022-09-30 | $1.00B | 66 | -11.37% | -4.93% | -6.44% | +0.04B |
| 2022-06-30 | $1.09B | 65 | -10.69% | -16.11% | +5.43% | +0.03B |