Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.10%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.60%
baseline attrition
Rally response
-6.91%
trims into rallies
when a holding rises +10%+
Top positions · 28
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGAlphabet Inc. | $64M | 15.5% | +84.3% | 5.5 yr |
| AMZNAmazon.com, Inc. | $49M | 11.7% | +9.5% | 5.0 yr |
| VVisa Inc. | $45M | 10.8% | -13.1% | 5.5 yr |
| GOOGLAlphabet Inc. | $40M | 9.7% | — | 5.5 yr |
| NFLXNetflix, Inc. | $37M | 8.9% | +3.1% | 4.3 yr |
| UBERUber Technologies, Inc. | $24M | 5.8% | -1.3% | 5.5 yr |
| NVRNVR, Inc. | $19M | 4.6% | -9.0% | 5.5 yr |
| BRPBRP Group, Inc. | $17M | 4.1% | — | 5.5 yr |
| METAMeta Platforms, Inc. | $17M | 4.1% | -0.4% | 5.5 yr |
| INTUIntuit Inc. | $17M | 4.0% | -29.3% | 0.3 yr |
| JPMJPMorgan Chase & Co. | $15M | 3.6% | +21.8% | 5.5 yr |
| COFCapital One Financial Co | $14M | 3.3% | +3.1% | 2.8 yr |
| FIFiserv, Inc. | $9M | 2.2% | — | 0.5 yr |
| BRK-BBerkshire Hathaway Inc. | $9M | 2.1% | — | 5.5 yr |
| TTAMTitan America S.A. | $8M | 1.9% | +12.0% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Internet Content & Information29.3%+2.7pp$122M
Financial - Credit Services14.2%+0.6pp$59M
Specialty Retail11.7%+1.0pp$49M
Software - Application9.9%+1.1pp$41M
Entertainment8.9%+1.9pp$37M
Residential Construction4.6%-1.4pp$19M
Insurance - Brokers4.3%-5.8pp$18M
Banks - Diversified3.7%-0.4pp$15M
Medical - Healthcare Plans2.9%+2.4pp$12M
Insurance - Diversified2.4%-1.1pp$10M
Country
US98.1%-1.0pp
BE1.9%+1.7pp
Top 5: 56.7% · Top 10: 79.3% · Top 25: 99.7%
Top buys this quarter · 13
| INTU Intuit Inc.new | +$17M |
| NFLX Netflix, Inc. | +$11M |
| V Visa Inc. | +$8M |
| COF Capital One Financial Corporat | +$14M |
| ABNB Airbnb, Inc.new | +$1M |
| SPGI S&P Global Inc.new | +$1M |
| DECK Deckers Outdoor Corporation | +$0M |
| BRO Brown & Brown, Inc.new | +$0M |
| TTAM Titan America S.A. | +$8M |
| AMZN Amazon.com, Inc. | +$49M |
Top sells this quarter · 15
| META Meta Platforms, Inc. | −$12M |
| CZR Caesars Entertainment, Inc. | −$4M |
| SATS EchoStar Corporationexit | −$4M |
| SBUX Starbucks Corporation | −$2M |
| JPM JPMorgan Chase & Co. | −$2M |
| UBER Uber Technologies, Inc. | −$1M |
| UNH UnitedHealth Group Incorporate | −$0M |
| PGR The Progressive Corporationexit | −$0M |
| GOOG Alphabet Inc. | −$0M |
| NVR NVR, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $416M | 28 | +12.50% | +17.59% | -5.09% | +0.02B |
| 2025-12-31 | $444M | 27 | +20.28% | +17.72% | +2.56% | +0.01B |
| 2025-09-30 | $420M | 25 | +19.72% | +17.52% | +2.20% | +0.01B |
| 2025-06-30 | $387M | 23 | +17.53% | +14.94% | +2.59% | +0.00B |
| 2025-03-31 | $335M | 22 | +4.65% | +8.30% | -3.65% | +0.00B |
| 2024-12-31 | $347M | 24 | +25.59% | +24.89% | +0.71% | -0.01B |
| 2024-09-30 | $345M | 23 | +42.49% | +36.04% | +6.45% | -0.00B |
| 2024-06-30 | $331M | 25 | +37.19% | +24.49% | +12.70% | -0.01B |
| 2024-03-31 | $338M | 28 | +61.70% | +29.62% | +32.08% | -0.01B |
| 2023-12-31 | $303M | 31 | +67.78% | +26.18% | +41.61% | -0.01B |
| 2023-09-30 | $271M | 26 | +41.87% | +21.57% | +20.30% | -0.01B |
| 2023-06-30 | $274M | 27 | +41.33% | +19.42% | +21.90% | -0.02B |
| 2023-03-31 | $242M | 28 | -12.77% | -7.82% | -4.95% | -0.02B |
| 2022-12-31 | $220M | 30 | -1.58% | +7.56% | -9.14% | -0.01B |
| 2022-09-30 | $234M | 27 | +0.52% | -4.93% | +5.45% | -0.01B |
| 2022-06-30 | $242M | 29 | -26.16% | -16.11% | -10.05% | +0.01B |