Overview
The equity sleeve of America's most decorated balanced fund — David Giroux's stock picks in a pure-equity ETF, around 100 quality names.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| MSFT | Microsoft Corp. | 7.1% |
| NVDA | NVIDIA Corp. | 5.4% |
| AMZN | Amazon.com Inc. | 4.6% |
| AAPL | Apple Inc. | 3.8% |
| UNH | UnitedHealth Group | 3.1% |
| GOOGL | Alphabet Inc. A | 2.9% |
| V | Visa Inc. | 2.4% |
| LLY | Eli Lilly & Co. | 2.2% |
| GE | GE Aerospace | 2.0% |
| TMO | Thermo Fisher | 1.9% |
Fund Details
Investment Thesis
David Giroux's Capital Appreciation mutual fund beat its peers for 15 straight years — a streak with almost no equal — and TCAF is the first time retail investors can buy his equity selection in an ETF without the closed fund's waiting list. GARP discipline, risk-aware position sizing, and $8.8B gathered in two years say the market noticed. The 0.31% fee is a bargain by star-manager standards.
Who It's For
Investors who want proven active management over their core US equity sleeve at ETF pricing. One of the strongest manager-track-record stories available in the wrapper.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | $26.31 | -- |
| 2024 | $31.30 | +19.0% |
| 2025 | $36.00 | +15.0% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | -- |
| 2019 | -- |
| 2020 | -- |
| 2021 | -- |
| 2022 | -- |
| 2023 | 0.60% |
| 2024 | 0.50% |
| 2025 | 0.50% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | -- | -- |
| 2021 | -- | -- |
| 2022 | -- | -- |
| 2023 | $1B | -- |
| 2024 | $3.5B | +250.0% |
| 2025 | $6.5B | +85.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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