Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+30.31%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.55%
baseline attrition
Rally response
-7.62%
trims into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VVisa Inc. | $102M | 33.0% | -13.1% | 1.5 yr |
| CCCSCCC Intelligent Solution | $65M | 21.0% | — | 2.5 yr |
| VEEVVeeva Systems Inc. | $53M | 17.1% | -24.2% | 0.5 yr |
| CACCCredit Acceptance Corpor | $49M | 15.8% | -18.0% | 3.5 yr |
| SPGIS&P Global Inc. | $40M | 13.1% | -15.6% | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Financial - Credit Services48.8%-2.4pp$150M
Software - Infrastructure21.0%+1.4pp$65M
Medical - Healthcare Information Services17.1%$53M
Financial - Data & Stock Exchanges13.1%$40M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 4
| CCCS CCC Intelligent Solutions Hold | +$65M |
| SPGI S&P Global Inc.new | +$40M |
| VEEV Veeva Systems Inc. | +$35M |
| V Visa Inc. | +$26M |
Top sells this quarter · 1
| CACC Credit Acceptance Corporation | −$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $308M | 5 | -3.57% | +17.59% | -21.16% | +0.10B |
| 2025-12-31 | $238M | 4 | +24.09% | +17.72% | +6.37% | +0.01B |
| 2025-09-30 | $231M | 4 | +44.93% | +17.52% | +27.41% | -0.11B |
| 2025-06-30 | $345M | 5 | +31.05% | +14.94% | +16.11% | -0.02B |
| 2025-03-31 | $315M | 6 | +0.78% | +8.30% | -7.52% | +0.00B |
| 2024-12-31 | $278M | 5 | -3.92% | +24.89% | -28.81% | +0.03B |
| 2024-09-30 | $216M | 4 | +6.87% | +36.04% | -29.17% | -0.00B |
| 2024-06-30 | $242M | 5 | +11.81% | +24.49% | -12.69% | +0.05B |
| 2024-03-31 | $222M | 5 | +38.47% | +29.62% | +8.85% | -0.04B |
| 2023-12-31 | $244M | 5 | +51.66% | +26.18% | +25.48% | -0.02B |
| 2023-09-30 | $211M | 4 | +5.79% | +21.57% | -15.78% | +0.01B |
| 2023-06-30 | $212M | 4 | +42.34% | +19.42% | +22.92% | -0.02B |
| 2023-03-31 | $214M | 4 | -52.45% | -7.82% | -44.63% | -0.01B |
| 2022-12-31 | $190M | 4 | -12.54% | +7.56% | -20.10% | +0.05B |
| 2022-09-30 | $158M | 3 | +26.42% | -4.93% | +31.35% | -0.01B |
| 2022-06-30 | $135M | 3 | -63.45% | -16.11% | -47.34% | +0.08B |