Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.41%
adds when stocks drop
when a holding falls −10%+
Middle response
+7.33%
steady accumulation
Rally response
+8.54%
adds into rallies
when a holding rises +10%+
Top positions · 19
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RBCRBC Bearings Incorporate | $240M | 12.6% | +68.8% | 2.5 yr |
| TDYTeledyne Technologies In | $219M | 11.5% | +21.6% | 2.5 yr |
| LINLinde plc | $192M | 10.0% | +7.9% | 2.5 yr |
| AMEAMETEK, Inc. | $191M | 10.0% | +25.3% | 2.5 yr |
| APHAmphenol Corporation | $187M | 9.8% | +93.6% | 2.5 yr |
| HEI-AHEICO Corporation | $160M | 8.4% | — | 2.5 yr |
| ACGLArch Capital Group Ltd. | $113M | 5.9% | -0.2% | 1.5 yr |
| RLIRLI Corp. | $102M | 5.3% | -26.0% | 2.5 yr |
| KNSLKinsale Capital Group, I | $92M | 4.8% | -29.7% | 2.5 yr |
| SSDSimpson Manufacturing Co | $88M | 4.6% | +9.8% | 2.5 yr |
| — | $82M | 4.3% | — | 2.5 yr |
| CPRTCopart, Inc. | $82M | 4.3% | -41.3% | 2.5 yr |
| GGGGraco Inc. | $66M | 3.5% | +2.7% | 2.5 yr |
| HIFSHingham Institution for | $59M | 3.1% | +21.7% | 2.5 yr |
| WRBW. R. Berkley Corporatio | $33M | 1.7% | -4.4% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Hardware, Equipment & Parts21.2%+3.9pp$406M
Manufacturing - Tools & Accessories12.6%+3.3pp$240M
Insurance - Property & Casualty12.0%-7.2pp$230M
Chemicals - Specialty10.0%+2.5pp$192M
Electrical Equipment & Parts10.0%+1.0pp$191M
Aerospace & Defense8.4%+0.2pp$160M
Insurance - Diversified5.9%+1.9pp$113M
Construction4.6%+1.1pp$88M
Unknown4.3%-1.8pp$82M
Specialty Business Services4.3%-0.3pp$82M
Country
US79.7%-2.6pp
GB10.0%+2.5pp
BM5.9%+1.9pp
Unknown4.3%-1.8pp
Top 5: 53.8% · Top 10: 82.8% · Top 25: 100.0%
Top buys this quarter · 8
| KNSL Kinsale Capital Group, Inc. | +$12M |
| LIN Linde plc | +$11M |
| CPRT Copart, Inc. | +$82M |
| RLI RLI Corp. | +$102M |
| ACGL Arch Capital Group Ltd. | +$4M |
| AME AMETEK, Inc. | +$3M |
| TDY Teledyne Technologies Incorpor | +$1M |
| HEI-A HEICO Corporation | +$0M |
Top sells this quarter · 10
| IEX IDEX Corporationexit | −$41M |
| RBC RBC Bearings Incorporated | −$202M |
| APH Amphenol Corporation | −$3M |
| WRB W. R. Berkley Corporation | −$2M |
| GGG Graco Inc. | −$65M |
| HIFS Hingham Institution for Saving | −$0M |
| SSD Simpson Manufacturing Co., Inc | −$83M |
| PGR The Progressive Corporation | −$0M |
| — | −$0M |
| BRK-B Berkshire Hathaway Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.91B | 19 | +15.54% | +17.59% | -2.06% | -0.03B |
| 2025-12-31 | $1.86B | 21 | +12.90% | +17.72% | -4.82% | +0.05B |
| 2025-09-30 | $1.80B | 22 | +13.16% | +17.52% | -4.35% | +0.07B |
| 2025-06-30 | $1.66B | 25 | +18.75% | +14.94% | +3.80% | +0.11B |
| 2025-03-31 | $1.47B | 25 | +2.70% | +8.30% | -5.60% | +0.13B |
| 2024-12-31 | $1.31B | 25 | +11.65% | +24.89% | -13.24% | +0.08B |
| 2024-09-30 | $1.22B | 27 | +9.06% | +5.75% | +3.31% | +0.08B |
| 2024-06-30 | $1.04B | 26 | -8.36% | +4.38% | -12.74% | +0.09B |
| 2024-03-31 | $1.04B | 27 | +10.75% | +10.39% | +0.36% | +0.17B |
| 2023-12-31 | $781M | 27 | — | — | — | — |