Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+10.29%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.67%
steady accumulation
Rally response
-17.78%
trims into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CRMSalesforce, Inc. | $360M | 23.1% | -30.2% | 4.3 yr |
| INTUIntuit Inc. | $216M | 13.8% | -29.3% | 3.8 yr |
| PTCPTC Inc. | $185M | 11.8% | -8.0% | 4.8 yr |
| WDAYWorkday, Inc. | $143M | 9.2% | -44.4% | 5.5 yr |
| VVisa Inc. | $115M | 7.4% | -13.1% | 3.5 yr |
| TTEKTetra Tech, Inc. | $102M | 6.6% | +3.7% | 2.3 yr |
| AMZNAmazon.com, Inc. | $75M | 4.8% | +9.5% | 5.0 yr |
| XYLXylem Inc. | $64M | 4.1% | +1.3% | 0.8 yr |
| CNMCore & Main, Inc. | $58M | 3.7% | +2.3% | 2.0 yr |
| AVGOBroadcom Inc. | $46M | 2.9% | +86.0% | 0.3 yr |
| COFCapital One Financial Co | $42M | 2.7% | +3.1% | 1.3 yr |
| PFGCPerformance Food Group C | $34M | 2.2% | +8.9% | 0.3 yr |
| SPOTSpotify Technology S.A. | $33M | 2.1% | -11.8% | 2.5 yr |
| BKNGBooking Holdings Inc. | $31M | 2.0% | -96.3% | 4.5 yr |
| LPXLouisiana-Pacific Corpor | $29M | 1.9% | -19.9% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application58.8%+0.7pp$918M
Financial - Credit Services10.1%+7.9pp$157M
Engineering & Construction6.6%$102M
Specialty Retail4.8%-1.2pp$75M
Industrial - Machinery4.1%$64M
Industrial - Distribution3.7%+2.7pp$58M
Semiconductors2.9%+0.6pp$46M
Internet Content & Information2.9%+0.6pp$45M
Food Distribution2.2%$34M
Travel Services2.0%-3.2pp$31M
Country
US97.9%+4.7pp
LU2.1%+1.5pp
Top 5: 65.3% · Top 10: 87.5% · Top 25: 100.0%
Top buys this quarter · 8
| INTU Intuit Inc. | +$174M |
| AVGO Broadcom Inc.new | +$46M |
| V Visa Inc. | +$42M |
| PFGC Performance Food Group Companynew | +$34M |
| CRM Salesforce, Inc. | +$360M |
| XYL Xylem Inc. | +$25M |
| TTEK Tetra Tech, Inc. | +$102M |
| PTC PTC Inc. | +$185M |
Top sells this quarter · 15
| AMZN Amazon.com, Inc. | −$125M |
| TSM Taiwan Semiconductor Manufactuexit | −$61M |
| TMUS T-Mobile US, Inc.exit | −$44M |
| LYV Live Nation Entertainment, Incexit | −$44M |
| WDAY Workday, Inc. | −$39M |
| LPX Louisiana-Pacific Corporation | −$36M |
| CNM Core & Main, Inc. | −$18M |
| UBER Uber Technologies, Inc.exit | −$14M |
| DASH DoorDash, Inc. | −$12M |
| NFLX Netflix, Inc.exit | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.56B | 17 | -9.88% | +17.59% | -27.47% | -0.01B |
| 2025-12-31 | $2.04B | 20 | +10.13% | +17.72% | -7.59% | +0.03B |
| 2025-09-30 | $2.05B | 24 | +20.84% | +17.52% | +3.32% | -0.08B |
| 2025-06-30 | $2.10B | 24 | +26.53% | +14.94% | +11.59% | -0.03B |
| 2025-03-31 | $1.80B | 17 | +5.71% | +8.30% | -2.60% | +0.01B |
| 2024-12-31 | $1.91B | 22 | +24.16% | +24.89% | -0.73% | +0.16B |
| 2024-09-30 | $1.63B | 23 | +38.52% | +36.04% | +2.48% | +0.03B |
| 2024-06-30 | $1.50B | 22 | +31.84% | +24.49% | +7.35% | +0.22B |
| 2024-03-31 | $1.30B | 19 | +46.32% | +29.62% | +16.70% | -0.00B |
| 2023-12-31 | $1.18B | 21 | +55.75% | +26.18% | +29.57% | -0.06B |
| 2023-09-30 | $1.04B | 21 | +32.21% | +21.57% | +10.64% | +0.01B |
| 2023-06-30 | $1.01B | 24 | +24.83% | +19.42% | +5.40% | +0.04B |
| 2023-03-31 | $888M | 21 | -6.91% | -7.82% | +0.91% | +0.07B |
| 2022-12-31 | $696M | 22 | +1.57% | +7.56% | -5.99% | -0.05B |
| 2022-09-30 | $730M | 19 | -4.43% | -4.93% | +0.50% | +0.07B |
| 2022-06-30 | $694M | 19 | -18.42% | -16.11% | -2.31% | -0.10B |