Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-7.34%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.89%
baseline attrition
Rally response
-4.88%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GOOGLAlphabet Inc. | $42M | 1.8% | — | 10.5 yr |
| KLACKLA Corporation | $41M | 1.7% | +118.2% | 7.8 yr |
| JBLJabil Inc. | $41M | 1.7% | +95.5% | 1.5 yr |
| AVGOBroadcom Inc. | $41M | 1.7% | +86.0% | 4.0 yr |
| FIXComfort Systems USA, Inc | $41M | 1.7% | +329.0% | 8.0 yr |
| AAPLApple Inc. | $40M | 1.7% | +14.7% | 10.5 yr |
| EMEEMCOR Group, Inc. | $39M | 1.6% | +100.2% | 3.5 yr |
| APHAmphenol Corporation | $39M | 1.6% | +93.6% | 7.3 yr |
| AMATApplied Materials, Inc. | $37M | 1.6% | +137.6% | 5.3 yr |
| HSYThe Hershey Company | $37M | 1.5% | +25.3% | 0.3 yr |
| CAHCardinal Health, Inc. | $37M | 1.5% | +54.9% | 3.8 yr |
| MSIMotorola Solutions, Inc. | $36M | 1.5% | +0.2% | 7.0 yr |
| COSTCostco Wholesale Corpora | $36M | 1.5% | +5.9% | 0.3 yr |
| ANETArista Networks, Inc. | $35M | 1.5% | +58.5% | 1.5 yr |
| AMZNAmazon.com, Inc. | $35M | 1.5% | +9.5% | 6.0 yr |
Portfolio composition (YoY)
Industry mix
Software - Application10.6%-2.0pp$253M
Semiconductors8.0%+2.6pp$192M
Engineering & Construction5.6%+2.8pp$133M
Drug Manufacturers - General4.6%+2.9pp$109M
Hardware, Equipment & Parts4.5%+1.3pp$107M
Biotechnology3.8%+2.2pp$90M
Financial - Credit Services3.7%-1.3pp$87M
Financial - Capital Markets3.6%+1.9pp$86M
Internet Content & Information3.3%-1.3pp$78M
Specialty Retail3.1%-1.0pp$73M
Country
US89.8%+4.2pp
CA1.4%-1.0pp
GB1.2%+0.1pp
IE1.0%-1.0pp
IL0.9%+0.3pp
CN0.7%-0.7pp
BM0.6%-1.9pp
TW0.6%+0.2pp
Top 5: 8.6% · Top 10: 16.6% · Top 25: 38.1%
Top buys this quarter · 15
| HSY The Hershey Companynew | +$37M |
| COST Costco Wholesale Corporationnew | +$36M |
| TJX The TJX Companies, Inc.new | +$33M |
| ZTS Zoetis Inc. | +$32M |
| ITW Illinois Tool Works Inc. | +$23M |
| MAR Marriott International, Inc. | +$23M |
| CCL Carnival Corporation & plc | +$13M |
| INTU Intuit Inc. | +$11M |
| AIR AAR Corp.new | +$11M |
| IMAX IMAX Corporation | +$11M |
Top sells this quarter · 15
| AXP American Express Company | −$24M |
| FN Fabrinet | −$9M |
| ECL Ecolab Inc. | −$33M |
| ORLY O'Reilly Automotive, Inc. | −$30M |
| CDNS Cadence Design Systems, Inc. | −$29M |
| ADBE Adobe Inc.exit | −$20M |
| PYPL PayPal Holdings, Inc.exit | −$19M |
| CPRT Copart, Inc.exit | −$16M |
| IT Gartner, Inc.exit | −$15M |
| AMAT Applied Materials, Inc. | −$15M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.39B | 234 | +14.87% | +17.59% | -2.72% | -0.02B |
| 2025-12-31 | $2.49B | 240 | +12.48% | +17.72% | -5.24% | -0.14B |
| 2025-09-30 | $2.65B | 239 | +18.39% | +17.52% | +0.88% | -0.09B |
| 2025-06-30 | $2.57B | 236 | +16.31% | +14.94% | +1.36% | +0.03B |
| 2025-03-31 | $2.27B | 242 | +2.50% | +8.30% | -5.81% | -0.02B |
| 2024-12-31 | $2.41B | 243 | +18.77% | +24.89% | -6.12% | -0.13B |
| 2024-09-30 | $2.43B | 240 | +25.55% | +36.04% | -10.49% | -0.26B |
| 2024-06-30 | $2.56B | 277 | +16.06% | +24.49% | -8.43% | -0.04B |
| 2024-03-31 | $2.64B | 270 | +25.13% | +29.62% | -4.50% | -0.01B |
| 2023-12-31 | $2.41B | 269 | +21.89% | +26.18% | -4.29% | -0.00B |
| 2023-09-30 | $2.19B | 265 | +21.28% | +21.57% | -0.29% | -0.06B |
| 2023-06-30 | $2.31B | 271 | +20.76% | +19.42% | +1.34% | -0.00B |
| 2023-03-31 | $2.18B | 270 | -0.07% | -7.82% | +7.75% | -0.00B |
| 2022-12-31 | $2.04B | 263 | +9.89% | +7.56% | +2.33% | -0.01B |
| 2022-09-30 | $1.86B | 270 | -3.41% | -4.93% | +1.52% | -0.01B |
| 2022-06-30 | $1.94B | 277 | -12.14% | -16.11% | +3.97% | -0.01B |