Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+6.35%
adds when stocks drop
when a holding falls −10%+
Middle response
-10.53%
baseline attrition
Rally response
+5.30%
adds into rallies
when a holding rises +10%+
Top positions · 14
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GWREGuidewire Software, Inc. | $1.14B | 21.3% | -20.2% | 2.5 yr |
| VEEVVeeva Systems Inc. | $865M | 16.1% | -24.2% | 2.5 yr |
| NYTThe New York Times Compa | $756M | 14.1% | +70.5% | 0.3 yr |
| SGISomnigroup International | $649M | 12.1% | +24.4% | 2.5 yr |
| — | $583M | 10.8% | — | 0.5 yr |
| TWTradeweb Markets Inc. | $328M | 6.1% | -20.4% | 0.3 yr |
| — | $233M | 4.3% | — | 2.5 yr |
| LLYVALiberty Live Group | $229M | 4.3% | — | 0.5 yr |
| MELIMercadoLibre, Inc. | $225M | 4.2% | -11.4% | 0.3 yr |
| 0JUJ.LFormula One Group | $165M | 3.1% | -3.4% | 2.5 yr |
| LYVLive Nation Entertainmen | $103M | 1.9% | +16.8% | 1.5 yr |
| SATSEchoStar Corporation | $81M | 1.5% | +357.7% | 0.5 yr |
| TDGTransDigm Group Incorpor | $13M | 0.2% | -10.5% | 2.5 yr |
| SHAKShake Shack Inc. | $8M | 0.2% | +0.3% | 2.5 yr |
Portfolio composition (YoY)
Industry mix
Software - Application21.3%-3.8pp$1.14B
Medical - Healthcare Information Services16.1%-0.6pp$865M
Unknown15.1%+3.4pp$815M
Publishing14.1%$756M
Household & Personal Products12.1%-5.8pp$649M
Entertainment9.2%-17.0pp$497M
Financial - Capital Markets6.1%$328M
Specialty Retail4.2%$225M
Communication Equipment1.5%$81M
Aerospace & Defense0.2%-1.6pp$13M
Country
US80.7%-7.6pp
Unknown15.1%+3.4pp
UY4.2%
Top 5: 74.3% · Top 10: 96.2% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.38B | 14 | +6.61% | +17.59% | -10.98% | +1.47B |
| 2025-12-31 | $4.42B | 12 | +28.09% | +17.72% | +10.37% | +0.86B |
| 2025-09-30 | $3.82B | 10 | +38.73% | +17.52% | +21.21% | +0.56B |
| 2025-06-30 | $3.06B | 10 | +57.84% | +14.94% | +42.90% | -0.03B |
| 2025-03-31 | $2.54B | 10 | +26.34% | +8.30% | +18.04% | +0.52B |
| 2024-12-31 | $1.90B | 9 | +37.12% | +24.89% | +12.23% | +0.24B |
| 2024-09-30 | $1.65B | 9 | +20.97% | +5.75% | +15.22% | +0.12B |
| 2024-06-30 | $1.26B | 11 | -2.75% | +4.38% | -7.13% | +0.19B |
| 2024-03-31 | $1.10B | 11 | +15.41% | +10.39% | +5.01% | +0.23B |
| 2023-12-31 | $758M | 10 | — | — | — | — |