Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.13%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.17%
steady accumulation
Rally response
-2.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IEFAiShares Core MSCI EAFE E | $224M | 7.8% | — | 3.5 yr |
| TDThe Toronto-Dominion Ban | $139M | 4.8% | +60.9% | 19.5 yr |
| RYRoyal Bank of Canada | $131M | 4.6% | +48.2% | 19.0 yr |
| MSFTMicrosoft Corporation | $127M | 4.4% | -0.6% | 19.5 yr |
| GOOGLAlphabet Inc. | $127M | 4.4% | — | 10.0 yr |
| WPMWheaton Precious Metals | $122M | 4.2% | +70.0% | 4.3 yr |
| MEOHMethanex Corporation | $116M | 4.0% | +72.7% | 9.0 yr |
| VVisa Inc. | $116M | 4.0% | -13.1% | 17.3 yr |
| ICEIntercontinental Exchang | $110M | 3.8% | -7.8% | 5.5 yr |
| BRK-BBerkshire Hathaway Inc. | $105M | 3.6% | — | 10.5 yr |
| TMOThermo Fisher Scientific | $103M | 3.6% | -0.9% | 13.3 yr |
| TFIITFI International Inc. | $96M | 3.4% | +42.3% | 6.3 yr |
| BIPBrookfield Infrastructur | $86M | 3.0% | +27.5% | 13.3 yr |
| AMEAMETEK, Inc. | $86M | 3.0% | +25.3% | 2.3 yr |
| CNQCanadian Natural Resourc | $84M | 2.9% | +66.0% | 15.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management11.4%+1.0pp$327M
Banks - Diversified10.4%+0.7pp$298M
Internet Content & Information7.6%+2.7pp$219M
Software - Infrastructure5.4%-0.9pp$155M
Medical - Diagnostics & Research4.8%-0.1pp$138M
Software - Application4.5%+1.8pp$130M
Unknown4.5%+1.5pp$129M
Financial - Credit Services4.4%-2.0pp$128M
Gold4.3%+1.4pp$123M
Chemicals4.0%+2.1pp$116M
Country
US57.1%-9.4pp
CA32.1%+3.9pp
Unknown4.5%+1.5pp
BM3.0%+0.7pp
LU1.9%
UY0.5%
IN0.4%
SG0.2%
Top 5: 26.0% · Top 10: 45.8% · Top 25: 81.6%
Top buys this quarter · 15
| SPOT Spotify Technology S.A.new | +$54M |
| TFPM.TO Triple Flag Precious Metals Co | +$32M |
| NFLX Netflix, Inc. | +$20M |
| CDNS Cadence Design Systems, Inc. | +$19M |
| UBER Uber Technologies, Inc. | +$10M |
| MSFT Microsoft Corporation | +$127M |
| MELI MercadoLibre, Inc. | +$7M |
| HDB HDFC Bank Limited | +$7M |
| PAC Grupo Aeroportuario del PacÃfnew | +$6M |
| IBN ICICI Bank Limited | +$4M |
Top sells this quarter · 15
| AAPL Apple Inc. | −$32M |
| CNQ Canadian Natural Resources Lim | −$73M |
| MIDD The Middleby Corporation | −$20M |
| BN Brookfield Corporation | −$14M |
| RY Royal Bank of Canada | −$10M |
| TD The Toronto-Dominion Bank | −$10M |
| MEOH Methanex Corporation | −$81M |
| CNI Canadian National Railway Comp | −$6M |
| BLD TopBuild Corp. | −$5M |
| TFII TFI International Inc. | −$94M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.88B | 139 | +14.70% | +17.59% | -2.90% | -0.06B |
| 2025-12-31 | $3.03B | 144 | +17.09% | +17.72% | -0.63% | +0.10B |
| 2025-09-30 | $2.81B | 74 | +10.39% | +17.52% | -7.13% | +0.13B |
| 2025-06-30 | $2.57B | 70 | +14.88% | +14.94% | -0.06% | +0.15B |
| 2025-03-31 | $2.22B | 102 | +3.44% | +8.30% | -4.86% | +0.08B |
| 2024-12-31 | $2.16B | 115 | +12.35% | +24.89% | -12.53% | +0.00B |
| 2024-09-30 | $2.20B | 91 | +29.27% | +36.04% | -6.77% | +0.04B |
| 2024-06-30 | $1.99B | 161 | +15.32% | +24.49% | -9.18% | +0.02B |
| 2024-03-31 | $2.01B | 184 | +23.19% | +29.62% | -6.43% | -0.01B |
| 2023-12-31 | $1.88B | 57 | +24.54% | +26.18% | -1.63% | +0.01B |
| 2023-09-30 | $1.65B | 59 | +20.57% | +21.57% | -1.00% | -0.03B |
| 2023-06-30 | $1.75B | 61 | +18.76% | +19.42% | -0.66% | +0.07B |
| 2023-03-31 | $1.60B | 59 | -5.60% | -7.82% | +2.22% | -0.02B |
| 2022-12-31 | $1.49B | 55 | +9.61% | +7.56% | +2.05% | +0.02B |
| 2022-09-30 | $1.34B | 54 | -4.86% | -4.93% | +0.07% | +0.01B |
| 2022-06-30 | $1.40B | 55 | -16.51% | -16.11% | -0.39% | +0.00B |