Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+16.88%
adds when stocks drop
when a holding falls −10%+
Middle response
+10.93%
steady accumulation
Rally response
-14.11%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TRIPTripadvisor, Inc. | $27M | 7.4% | -24.8% | 1.3 yr |
| BKNGBooking Holdings Inc. | $19M | 5.2% | -96.3% | 0.3 yr |
| AMZNAmazon.com, Inc. | $15M | 4.2% | +9.5% | 0.8 yr |
| RSKDRiskified Ltd. | $14M | 4.0% | -15.2% | 1.5 yr |
| MSGSMadison Square Garden Sp | $13M | 3.7% | +65.1% | 1.5 yr |
| MSFTMicrosoft Corporation | $12M | 3.4% | -0.6% | 0.5 yr |
| FDSFactSet Research Systems | $11M | 3.2% | -51.6% | 0.5 yr |
| SPBSpectrum Brands Holdings | $11M | 3.0% | +6.2% | 1.5 yr |
| BILLBill.com Holdings, Inc. | $11M | 3.0% | -16.5% | 1.0 yr |
| DINDine Brands Global, Inc. | $11M | 3.0% | +18.8% | 1.0 yr |
| JCOMZiff Davis, Inc. | $10M | 2.8% | — | 0.3 yr |
| AINAlbany International Cor | $9M | 2.5% | -22.9% | 0.8 yr |
| PINSPinterest, Inc. | $9M | 2.5% | -40.8% | 0.8 yr |
| MLABMesa Laboratories, Inc. | $9M | 2.5% | -24.9% | 0.8 yr |
| DLTRDollar Tree, Inc. | $9M | 2.4% | +45.9% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application21.6%+13.9pp$78M
Internet Content & Information11.2%+6.1pp$40M
Software - Infrastructure7.3%$26M
Financial - Data & Stock Exchanges5.3%+3.4pp$19M
Household & Personal Products5.3%+1.0pp$19M
Travel Services5.2%+2.1pp$19M
Restaurants4.7%-1.9pp$17M
Biotechnology4.2%-0.3pp$15M
Specialty Retail4.2%+3.5pp$15M
Entertainment3.7%-0.3pp$13M
Country
US87.8%-6.6pp
IL4.6%+0.9pp
Unknown2.8%+2.4pp
AU1.8%
DE1.5%+1.2pp
IE1.3%
NL0.2%
Top 5: 24.6% · Top 10: 40.1% · Top 25: 73.3%
Top buys this quarter · 15
| TRIP Tripadvisor, Inc. | +$22M |
| AMZN Amazon.com, Inc. | +$10M |
| RSKD Riskified Ltd. | +$9M |
| FDS FactSet Research Systems Inc. | +$8M |
| MSFT Microsoft Corporation | +$8M |
| BILL Bill.com Holdings, Inc. | +$8M |
| MSGS Madison Square Garden Sports C | +$7M |
| TEAM Atlassian Corporationnew | +$6M |
| DT Dynatrace, Inc.new | +$6M |
| DIN Dine Brands Global, Inc. | +$6M |
Top sells this quarter · 15
| PLOW Douglas Dynamics, Inc.exit | −$3M |
| FRSH Freshworks Inc.exit | −$2M |
| GPGI GPGI, Inc.exit | −$2M |
| TECH Bio-Techne Corporationexit | −$1M |
| CARS Cars.com Inc.exit | −$1M |
| FRPT Freshpet, Inc.exit | −$1M |
| PMTS CPI Card Group Inc.exit | −$1M |
| OXM Oxford Industries, Inc.exit | −$1M |
| HII Huntington Ingalls Industries,exit | −$1M |
| WINA Winmark Corporationexit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $361M | 55 | +1.71% | +17.59% | -15.88% | +0.24B |
| 2025-12-31 | $152M | 57 | +12.94% | +17.72% | -4.78% | +0.01B |
| 2025-09-30 | $134M | 55 | +2.02% | +8.12% | -6.10% | +0.01B |
| 2025-06-30 | $125M | 51 | +15.16% | +10.78% | +4.38% | -0.01B |
| 2025-03-31 | $118M | 48 | -9.29% | -4.27% | -5.02% | +0.02B |
| 2024-12-31 | $106M | 51 | — | — | — | — |