Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.08%
adds when stocks drop
when a holding falls −10%+
Middle response
+4.39%
steady accumulation
Rally response
+0.24%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $218M | 7.3% | +84.3% | 5.0 yr |
| CDNSCadence Design Systems, | $147M | 4.9% | +9.3% | 5.0 yr |
| LRCXLam Research Corporation | $123M | 4.1% | +196.1% | 1.5 yr |
| LINLinde plc | $114M | 3.8% | +7.9% | 3.3 yr |
| DHRDanaher Corporation | $106M | 3.5% | -7.1% | 4.0 yr |
| TXNTexas Instruments Incorp | $104M | 3.5% | +11.4% | 5.0 yr |
| ROPRoper Technologies, Inc. | $102M | 3.4% | -39.7% | 2.0 yr |
| APHAmphenol Corporation | $96M | 3.2% | +93.6% | 5.0 yr |
| PGRThe Progressive Corporat | $95M | 3.2% | -25.5% | 3.5 yr |
| TTTrane Technologies plc | $82M | 2.7% | +24.8% | 4.8 yr |
| AJGArthur J. Gallagher & Co | $80M | 2.7% | -36.6% | 0.5 yr |
| SYKStryker Corporation | $77M | 2.6% | -11.1% | 0.3 yr |
| ISRGIntuitive Surgical, Inc. | $73M | 2.4% | -6.9% | 5.0 yr |
| IRIngersoll Rand Inc. | $73M | 2.4% | +0.2% | 1.0 yr |
| ARMArm Holdings plc America | $71M | 2.4% | +41.7% | 2.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application20.6%-0.4pp$616M
Semiconductors19.0%+1.5pp$570M
Internet Content & Information9.8%+0.9pp$294M
Software - Infrastructure6.2%-1.9pp$187M
Medical - Devices5.8%+3.6pp$173M
Aerospace & Defense4.0%-0.4pp$119M
Chemicals - Specialty3.8%+1.3pp$114M
Medical - Diagnostics & Research3.5%+0.9pp$106M
Hardware, Equipment & Parts3.2%-2.1pp$96M
Insurance - Property & Casualty3.2%-1.3pp$95M
Country
US83.8%-1.3pp
GB6.2%+2.7pp
IE2.7%+0.2pp
CA2.2%-0.1pp
UY1.7%-0.0pp
BR1.5%+0.6pp
IL1.0%-1.5pp
AU0.8%-0.7pp
Top 5: 23.6% · Top 10: 39.6% · Top 25: 72.2%
Top buys this quarter · 15
| SYK Stryker Corporationnew | +$77M |
| TYL Tyler Technologies, Inc. | +$57M |
| APH Amphenol Corporation | +$34M |
| AJG Arthur J. Gallagher & Co. | +$30M |
| ROP Roper Technologies, Inc. | +$22M |
| ISRG Intuitive Surgical, Inc. | +$22M |
| SHOP Shopify Inc. | +$20M |
| CDNS Cadence Design Systems, Inc. | +$147M |
| DASH DoorDash, Inc. | +$15M |
| FROG JFrog Ltd. | +$14M |
Top sells this quarter · 15
| AMT American Tower Corporation | −$91M |
| IT Gartner, Inc.exit | −$48M |
| PCOR Procore Technologies, Inc.exit | −$44M |
| LRCX Lam Research Corporation | −$35M |
| CGNX Cognex Corporationexit | −$34M |
| TTAN ServiceTitan, Inc.exit | −$23M |
| GOOG Alphabet Inc. | −$16M |
| NOW ServiceNow, Inc.exit | −$15M |
| FND Floor & Decor Holdings, Inc.exit | −$14M |
| DHR Danaher Corporation | −$14M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $3.00B | 58 | +16.85% | +17.59% | -0.74% | +0.03B |
| 2025-12-31 | $3.26B | 62 | +20.63% | +17.72% | +2.91% | -0.01B |
| 2025-09-30 | $3.27B | 61 | +20.68% | +17.52% | +3.17% | +0.13B |
| 2025-06-30 | $2.94B | 60 | +16.45% | +14.94% | +1.51% | +0.27B |
| 2025-03-31 | $2.22B | 59 | -1.47% | +8.30% | -9.77% | +0.01B |
| 2024-12-31 | $2.35B | 59 | +17.26% | +24.89% | -7.62% | -0.22B |
| 2024-09-30 | $2.56B | 58 | +34.87% | +36.04% | -1.17% | +0.06B |
| 2024-06-30 | $2.44B | 58 | +24.65% | +24.49% | +0.16% | -0.02B |
| 2024-03-31 | $2.41B | 54 | +32.84% | +29.62% | +3.21% | +0.29B |
| 2023-12-31 | $1.90B | 55 | +41.55% | +26.18% | +15.38% | -0.24B |
| 2023-09-30 | $1.86B | 65 | +23.96% | +21.57% | +2.40% | -0.04B |
| 2023-06-30 | $2.00B | 64 | +28.77% | +19.42% | +9.35% | -0.05B |
| 2023-03-31 | $1.89B | 65 | -8.54% | -7.82% | -0.72% | +0.50B |
| 2022-12-31 | $1.17B | 64 | +0.87% | +7.56% | -6.69% | +0.07B |
| 2022-09-30 | $1.09B | 67 | -1.35% | -4.93% | +3.58% | +0.16B |
| 2022-06-30 | $935M | 62 | -22.83% | -16.11% | -6.72% | +0.17B |