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% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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