Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.03%
trims when stocks drop
when a holding falls −10%+
Middle response
-6.67%
baseline attrition
Rally response
-7.33%
trims into rallies
when a holding rises +10%+
Top positions · 2
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| CAVACAVA Group, Inc. | $769M | 76.1% | -6.4% | 3.0 yr |
| LXRXLexicon Pharmaceuticals, | $241M | 23.9% | +238.5% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Restaurants76.1%-16.8pp$769M
Biotechnology23.9%+16.8pp$241M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| CAVA | $822M | -0.05B | -6.4% |
Top buys this quarter · 1
| LXRX Lexicon Pharmaceuticals, Inc. | +$29M |
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.01B | 2 | +11.00% | +17.59% | -6.59% | +0.03B |
| 2025-12-31 | $715M | 2 | -39.08% | +17.72% | -56.80% | -0.00B |
| 2025-09-30 | $758M | 2 | -43.69% | +17.52% | -61.20% | -0.00B |
| 2025-06-30 | $930M | 2 | -16.10% | +14.94% | -31.05% | +0.00B |
| 2025-03-31 | $884M | 2 | -13.95% | +8.30% | -22.26% | -0.00B |
| 2024-12-31 | $1.17B | 2 | +60.22% | +24.89% | +35.33% | -0.90B |
| 2024-09-30 | $2.38B | 2 | +155.98% | +36.04% | +119.94% | -2.35B |
| 2024-06-30 | $3.89B | 109 | +58.99% | +24.49% | +34.50% | -0.29B |
| 2024-03-31 | $3.88B | 107 | +87.01% | +29.62% | +57.39% | -0.24B |
| 2023-12-31 | $2.93B | 91 | +40.40% | +26.18% | +14.23% | -0.26B |
| 2023-09-30 | $2.29B | 101 | -2.77% | +21.57% | -24.33% | -0.06B |
| 2023-06-30 | $3.12B | 114 | -13.72% | +19.42% | -33.14% | +0.99B |
| 2023-03-31 | $1.68B | 118 | -56.45% | -7.82% | -48.63% | -0.13B |
| 2022-12-31 | $1.72B | 124 | -3.60% | +7.56% | -11.16% | -0.12B |
| 2022-09-30 | $1.92B | 130 | -33.03% | -4.93% | -28.10% | +0.71B |
| 2022-06-30 | $1.80B | 132 | -35.99% | -16.11% | -19.88% | +0.28B |