Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.44%
adds when stocks drop
when a holding falls −10%+
Middle response
-2.50%
baseline attrition
Rally response
-8.65%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| HQYHealthEquity, Inc. | $602M | 4.0% | -5.4% | 10.5 yr |
| ENSGThe Ensign Group, Inc. | $415M | 2.8% | +55.9% | 10.5 yr |
| CAMTCamtek Ltd. | $414M | 2.8% | +158.6% | 5.0 yr |
| MEDPMedpace Holdings, Inc. | $372M | 2.5% | +57.6% | 7.5 yr |
| NVMINova Ltd. | $370M | 2.5% | +135.6% | 6.3 yr |
| FNFabrinet | $367M | 2.5% | +164.0% | 10.5 yr |
| ECGEverus Construction Grou | $356M | 2.4% | +218.3% | 0.5 yr |
| SXIStandex International Co | $336M | 2.3% | +58.9% | 2.3 yr |
| RBCRBC Bearings Incorporate | $313M | 2.1% | +68.8% | 9.3 yr |
| KAIKadant Inc. | $304M | 2.0% | -12.8% | 8.3 yr |
| SITESiteOne Landscape Supply | $282M | 1.9% | +9.6% | 10.0 yr |
| OZKBank OZK | $281M | 1.9% | +9.8% | 8.0 yr |
| OLLIOllie's Bargain Outlet H | $275M | 1.9% | -20.9% | 10.5 yr |
| VVVValvoline Inc. | $269M | 1.8% | -3.2% | 7.5 yr |
| SAIASaia, Inc. | $249M | 1.7% | +0.5% | 3.8 yr |
Portfolio composition (YoY)
Industry mix
Industrial - Machinery8.0%+3.3pp$1.19B
Semiconductors5.7%+2.0pp$854M
Hardware, Equipment & Parts5.2%+2.3pp$767M
Software - Application4.9%-5.6pp$723M
Medical - Healthcare Information Services4.2%+0.1pp$632M
Engineering & Construction4.2%+3.0pp$626M
Specialty Retail4.0%+0.7pp$593M
Medical - Care Facilities3.9%+0.7pp$583M
Banks - Regional3.9%-1.0pp$580M
Discount Stores3.1%-0.5pp$465M
Country
US84.1%-1.2pp
IL6.8%+2.2pp
KY2.8%+1.4pp
BR1.8%+0.7pp
UY1.4%-0.2pp
Unknown1.2%+1.1pp
SG1.0%-1.0pp
IN0.6%+0.1pp
Top 5: 14.6% · Top 10: 25.9% · Top 25: 49.6%
Top buys this quarter · 15
| RGEN Repligen Corporationnew | +$147M |
| SKY Champion Homes, Inc. | +$140M |
| FROG JFrog Ltd. | +$127M |
| ECG Everus Construction Group, Inc | +$101M |
| ESE ESCO Technologies Inc.new | +$81M |
| COCO The Vita Coco Company, Inc. | +$78M |
| MEDP Medpace Holdings, Inc. | +$60M |
| HQY HealthEquity, Inc. | +$602M |
| GLBE Global-e Online Ltd. | +$51M |
| UFPI UFP Industries, Inc. | +$46M |
Top sells this quarter · 15
| MOD Modine Manufacturing Companyexit | −$285M |
| RBC RBC Bearings Incorporated | −$232M |
| NVMI Nova Ltd. | −$211M |
| CWAN Clearwater Analytics Holdings,exit | −$199M |
| ENSG The Ensign Group, Inc. | −$157M |
| FOUR Shift4 Payments, Inc. | −$113M |
| FIVE Five Below, Inc. | −$103M |
| CWST Casella Waste Systems, Inc. | −$94M |
| ICFI ICF International, Inc. | −$93M |
| QTWO Q2 Holdings, Inc. | −$86M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $14.87B | 212 | +1.07% | +17.59% | -16.52% | -1.16B |
| 2025-12-31 | $16.69B | 225 | -6.45% | +17.72% | -24.17% | -1.36B |
| 2025-09-30 | $18.39B | 228 | -3.21% | +17.52% | -20.73% | -0.51B |
| 2025-06-30 | $18.98B | 229 | +7.07% | +14.94% | -7.87% | -0.17B |
| 2025-03-31 | $17.79B | 233 | -3.10% | +8.30% | -11.40% | -0.00B |
| 2024-12-31 | $20.01B | 231 | +14.87% | +24.89% | -10.02% | -0.51B |
| 2024-09-30 | $20.20B | 236 | +29.43% | +36.04% | -6.61% | -0.27B |
| 2024-06-30 | $18.58B | 236 | +13.98% | +24.49% | -10.52% | +0.04B |
| 2024-03-31 | $19.03B | 246 | +22.79% | +29.62% | -6.84% | -0.01B |
| 2023-12-31 | $18.08B | 248 | +25.61% | +26.18% | -0.57% | +0.03B |
| 2023-09-30 | $15.77B | 253 | +12.51% | +21.57% | -9.06% | -0.19B |
| 2023-06-30 | $16.46B | 256 | +7.27% | +19.42% | -12.15% | -0.32B |
| 2023-03-31 | $15.98B | 256 | -20.76% | -7.82% | -12.94% | +0.03B |
| 2022-12-31 | $14.80B | 259 | +2.53% | +7.56% | -5.03% | +0.09B |
| 2022-09-30 | $14.35B | 250 | -7.51% | -4.93% | -2.58% | -0.24B |
| 2022-06-30 | $15.78B | 249 | -22.47% | -16.11% | -6.36% | +0.07B |