Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.78%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.19%
baseline attrition
Rally response
-6.90%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MARMarriott International, | $392M | 8.9% | +38.6% | 3.3 yr |
| SYKStryker Corporation | $390M | 8.8% | -11.1% | 5.0 yr |
| WATWaters Corporation | $327M | 7.4% | -19.2% | 4.3 yr |
| GOOGLAlphabet Inc. | $326M | 7.4% | — | 4.0 yr |
| VVisa Inc. | $310M | 7.0% | -13.1% | 5.0 yr |
| MTDMettler-Toledo Internati | $281M | 6.4% | +6.8% | 4.3 yr |
| PMPhilip Morris Internatio | $277M | 6.3% | +7.9% | 4.3 yr |
| IDXXIDEXX Laboratories, Inc. | $271M | 6.1% | +33.8% | 4.3 yr |
| ADPAutomatic Data Processin | $270M | 6.1% | -31.8% | 4.3 yr |
| METAMeta Platforms, Inc. | $268M | 6.1% | -0.4% | 5.0 yr |
| PGThe Procter & Gamble Com | $254M | 5.8% | -12.9% | 4.3 yr |
| MSFTMicrosoft Corporation | $246M | 5.6% | -0.6% | 5.0 yr |
| CHDChurch & Dwight Co., Inc | $242M | 5.5% | -14.1% | 4.3 yr |
| TXNTexas Instruments Incorp | $168M | 3.8% | +11.4% | 2.3 yr |
| FTNTFortinet, Inc. | $136M | 3.1% | -15.1% | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Medical - Diagnostics & Research19.9%+4.2pp$878M
Internet Content & Information13.5%-1.2pp$595M
Household & Personal Products11.3%+2.1pp$497M
Travel Lodging8.9%+3.9pp$392M
Medical - Devices8.8%-0.6pp$390M
Software - Infrastructure8.7%-4.2pp$381M
Financial - Credit Services7.0%-0.1pp$310M
Tobacco6.3%-1.4pp$277M
Staffing & Employment Services6.1%-0.6pp$270M
Semiconductors3.8%+1.5pp$169M
Country
US100.0%+0.3pp
TW0.0%
Top 5: 39.6% · Top 10: 70.6% · Top 25: 100.0%
Top buys this quarter · 4
| TSM Taiwan Semiconductor Manufactu | +$1M |
| AAPL Apple Inc. | +$0M |
| TJX The TJX Companies, Inc. | +$0M |
| AMZN Amazon.com, Inc. | +$0M |
Top sells this quarter · 15
| NKE NIKE, Inc.exit | −$118M |
| INTU Intuit Inc.exit | −$76M |
| PM Philip Morris International In | −$68M |
| IDXX IDEXX Laboratories, Inc. | −$41M |
| SYK Stryker Corporation | −$40M |
| MAR Marriott International, Inc. | −$39M |
| META Meta Platforms, Inc. | −$31M |
| OTIS Otis Worldwide Corporation | −$22M |
| MTD Mettler-Toledo International I | −$21M |
| V Visa Inc. | −$16M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $4.41B | 24 | +2.31% | +17.59% | -15.28% | -0.60B |
| 2025-12-31 | $5.47B | 26 | +15.34% | +17.72% | -2.38% | -1.23B |
| 2025-09-30 | $6.42B | 23 | +9.71% | +17.52% | -7.81% | -0.74B |
| 2025-06-30 | $7.39B | 26 | +23.12% | +14.94% | +8.18% | -0.44B |
| 2025-03-31 | $7.09B | 27 | +9.53% | +8.30% | +1.23% | -0.85B |
| 2024-12-31 | $7.69B | 31 | +16.09% | +24.89% | -8.80% | -0.30B |
| 2024-09-30 | $8.04B | 28 | +29.20% | +36.04% | -6.84% | -0.39B |
| 2024-06-30 | $7.75B | 28 | +10.80% | +24.49% | -13.69% | +0.36B |
| 2024-03-31 | $7.52B | 27 | +17.35% | +29.62% | -12.28% | -0.05B |
| 2023-12-31 | $6.92B | 26 | +17.04% | +26.18% | -9.14% | -0.18B |
| 2023-09-30 | $6.42B | 26 | +18.75% | +21.57% | -2.82% | +0.03B |
| 2023-06-30 | $6.86B | 26 | +16.87% | +19.42% | -2.56% | +0.10B |
| 2023-03-31 | $6.50B | 25 | -4.66% | -7.82% | +3.15% | -0.06B |
| 2022-12-31 | $6.01B | 24 | +12.15% | +7.56% | +4.59% | -0.47B |
| 2022-09-30 | $5.78B | 26 | -8.20% | -4.93% | -3.27% | +0.28B |
| 2022-06-30 | $5.99B | 23 | -15.12% | -16.11% | +0.99% | -0.20B |