Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+14.07%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.03%
steady accumulation
Rally response
-10.94%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MTBM&T Bank Corporation | $45M | 5.3% | +19.1% | 5.3 yr |
| EMREmerson Electric Co. | $43M | 5.0% | +21.5% | 6.5 yr |
| ADPAutomatic Data Processin | $42M | 4.9% | -31.8% | 0.3 yr |
| PEPPepsiCo, Inc. | $40M | 4.7% | +7.7% | 6.5 yr |
| VVisa Inc. | $38M | 4.5% | -13.1% | 6.5 yr |
| ADIAnalog Devices, Inc. | $37M | 4.4% | +60.2% | 6.5 yr |
| MSFTMicrosoft Corporation | $37M | 4.3% | -0.6% | 6.5 yr |
| JNJJohnson & Johnson | $36M | 4.2% | +51.5% | 6.5 yr |
| LECOLincoln Electric Holding | $35M | 4.1% | +33.0% | 2.5 yr |
| ABTAbbott Laboratories | $34M | 4.0% | -21.1% | 6.5 yr |
| DEDeere & Company | $32M | 3.7% | +21.2% | 6.5 yr |
| FASTFastenal Company | $31M | 3.7% | +22.1% | 3.3 yr |
| JPMJPMorgan Chase & Co. | $30M | 3.6% | +21.8% | 6.5 yr |
| WMTWalmart Inc. | $29M | 3.4% | +42.8% | 6.5 yr |
| SNASnap-on Incorporated | $29M | 3.4% | +10.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Manufacturing - Tools & Accessories7.5%-0.4pp$64M
Drug Manufacturers - General7.4%-0.5pp$64M
Discount Stores6.5%-0.1pp$56M
Banks - Regional5.3%-0.1pp$45M
Industrial - Machinery5.3%+0.9pp$45M
Restaurants5.1%-1.0pp$43M
Staffing & Employment Services4.9%+2.4pp$42M
Semiconductors4.7%+0.3pp$40M
Beverages - Non-Alcoholic4.7%+0.1pp$40M
Financial - Credit Services4.7%+0.4pp$40M
Country
US99.1%-0.1pp
CA0.3%-0.0pp
GB0.2%-0.1pp
IE0.2%
NL0.1%-0.0pp
Unknown0.0%
TW0.0%
Top 5: 24.4% · Top 10: 45.4% · Top 25: 92.2%
Top buys this quarter · 15
| ADP Automatic Data Processing, Incnew | +$42M |
| ABT Abbott Laboratories | +$14M |
| V Visa Inc. | +$11M |
| EMR Emerson Electric Co. | +$10M |
| MSFT Microsoft Corporation | +$37M |
| INTU Intuit Inc.new | +$3M |
| KNSL Kinsale Capital Group, Inc.new | +$1M |
| ACN Accenture plc | +$1M |
| PAYC Paycom Software, Inc. | +$1M |
| MA Mastercard Incorporated | +$1M |
Top sells this quarter · 15
| PAYX Paychex, Inc.exit | −$25M |
| CVX Chevron Corporation | −$13M |
| SBUX Starbucks Corporation | −$8M |
| MTB M&T Bank Corporation | −$6M |
| SNA Snap-on Incorporated | −$6M |
| ADI Analog Devices, Inc. | −$35M |
| WMT Walmart Inc. | −$4M |
| LECO Lincoln Electric Holdings, Inc | −$4M |
| JNJ Johnson & Johnson | −$33M |
| DE Deere & Company | −$28M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $853M | 70 | +13.71% | +17.59% | -3.88% | -0.00B |
| 2025-12-31 | $843M | 72 | +12.79% | +17.72% | -4.93% | -0.01B |
| 2025-09-30 | $837M | 89 | +12.60% | +17.52% | -4.92% | -0.01B |
| 2025-06-30 | $807M | 69 | +16.55% | +14.94% | +1.60% | +0.00B |
| 2025-03-31 | $763M | 67 | +9.92% | +8.30% | +1.62% | -0.01B |
| 2024-12-31 | $764M | 68 | +16.11% | +24.89% | -8.78% | -0.02B |
| 2024-09-30 | $775M | 65 | +28.34% | +36.04% | -7.69% | +0.00B |
| 2024-06-30 | $712M | 62 | +14.08% | +24.49% | -10.41% | -0.00B |
| 2024-03-31 | $721M | 57 | +19.43% | +29.62% | -10.19% | +0.01B |
| 2023-12-31 | $665M | 56 | +17.06% | +26.18% | -9.11% | -0.01B |
| 2023-09-30 | $600M | 57 | +19.98% | +21.57% | -1.59% | +0.02B |
| 2023-06-30 | $604M | 55 | +16.58% | +19.42% | -2.85% | +0.00B |
| 2023-03-31 | $578M | 52 | -2.05% | -7.82% | +5.77% | +0.01B |
| 2022-12-31 | $546M | 51 | -8.20% | -18.17% | +9.98% | -0.00B |
| 2022-09-30 | $476M | 48 | -11.16% | -15.51% | +4.35% | -0.01B |
| 2022-06-30 | $514M | 49 | -4.62% | -10.62% | +6.00% | +0.00B |