Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.25%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.90%
baseline attrition
Rally response
-11.53%
trims into rallies
when a holding rises +10%+
Top positions · 12
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WDAYWorkday, Inc. | $80M | 19.6% | -44.4% | 0.3 yr |
| RELYRemitly Global, Inc. | $59M | 14.5% | -24.7% | 2.0 yr |
| APPNAppian Corporation | $46M | 11.3% | -16.3% | 2.0 yr |
| MDBMongoDB, Inc. | $42M | 10.2% | +39.5% | 1.3 yr |
| VEEVVeeva Systems Inc. | $38M | 9.2% | -24.2% | 0.3 yr |
| TOSTToast, Inc. | $35M | 8.5% | -20.1% | 2.8 yr |
| APPFAppFolio, Inc. | $33M | 8.1% | -28.2% | 0.3 yr |
| YEXTYext, Inc. | $30M | 7.4% | -37.7% | 4.3 yr |
| NCNOnCino, Inc. | $25M | 6.2% | -45.5% | 1.8 yr |
| PCORProcore Technologies, In | $18M | 4.3% | -13.7% | 0.3 yr |
| EQPTEquipmentShare.com Inc. | $2M | 0.5% | — | 0.3 yr |
| LIFLife360, Inc. | $0M | 0.1% | +6.3% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application57.0%-7.9pp$233M
Software - Infrastructure33.2%-1.9pp$135M
Medical - Healthcare Information Services9.2%$38M
Rental & Leasing Services0.5%$2M
Country
US100.0%+5.9pp
Top 5: 64.8% · Top 10: 99.4% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $408M | 12 | -5.59% | +17.59% | -23.18% | +0.13B |
| 2025-12-31 | $390M | 8 | +20.01% | +17.72% | +2.29% | -0.01B |
| 2025-09-30 | $378M | 8 | +21.22% | +17.52% | +3.71% | -0.01B |
| 2025-06-30 | $361M | 9 | +27.49% | +14.94% | +12.55% | -0.02B |
| 2025-03-31 | $329M | 10 | +6.21% | +8.30% | -2.10% | +0.06B |
| 2024-12-31 | $296M | 9 | +15.18% | +24.89% | -9.71% | -0.08B |
| 2024-09-30 | $345M | 10 | +32.18% | +36.04% | -3.85% | -0.01B |
| 2024-06-30 | $313M | 10 | -13.90% | +24.49% | -38.39% | +0.00B |
| 2024-03-31 | $325M | 10 | +5.74% | +29.62% | -23.88% | -0.05B |
| 2023-12-31 | $374M | 9 | +32.15% | +26.18% | +5.97% | +0.03B |
| 2023-09-30 | $282M | 9 | +10.79% | +21.57% | -10.77% | +0.04B |
| 2023-06-30 | $325M | 9 | +69.83% | +19.42% | +50.40% | -0.05B |
| 2023-03-31 | $318M | 9 | -8.46% | -7.82% | -0.64% | -0.04B |
| 2022-12-31 | $289M | 9 | +3.62% | +7.56% | -3.94% | +0.04B |
| 2022-09-30 | $240M | 8 | +12.18% | -4.93% | +17.11% | -0.16B |
| 2022-06-30 | $360M | 9 | -36.84% | -16.11% | -20.73% | +0.07B |