Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.04%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.29%
steady accumulation
Rally response
-5.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RVMDRevolution Medicines, In | $56M | 13.0% | +175.0% | 5.5 yr |
| XBIState Street SPDR S&P Bi | $41M | 9.4% | — | 4.3 yr |
| STXSStereotaxis, Inc. | $25M | 5.8% | +4.5% | 10.3 yr |
| DAWNDay One Biopharmaceutica | $21M | 4.8% | +170.4% | 3.0 yr |
| ATRCAtriCure, Inc. | $17M | 3.9% | -11.6% | 10.3 yr |
| IDYAIDEAYA Biosciences, Inc. | $16M | 3.7% | +103.4% | 5.8 yr |
| XENEXenon Pharmaceuticals In | $15M | 3.4% | +73.3% | 10.3 yr |
| CYTKCytokinetics, Incorporat | $14M | 3.3% | +64.0% | 7.5 yr |
| CMPSCOMPASS Pathways plc | $13M | 3.1% | +93.4% | 3.5 yr |
| NKTRNektar Therapeutics | $12M | 2.7% | — | 1.0 yr |
| IBBiShares Biotechnology ET | $10M | 2.4% | — | 9.8 yr |
| RCUSArcus Biosciences, Inc. | $10M | 2.2% | +175.2% | 6.5 yr |
| NBIXNeurocrine Biosciences, | $9M | 2.1% | +19.1% | 10.0 yr |
| LRMRLarimar Therapeutics, In | $9M | 2.1% | +109.3% | 6.0 yr |
| BCAXBicara Therapeutics Inc. | $8M | 1.9% | +52.6% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology61.6%+4.5pp$267M
Asset Management11.8%-1.4pp$51M
Medical - Instruments & Supplies9.7%-2.7pp$42M
Medical - Devices9.1%-1.4pp$39M
Unknown4.1%-2.0pp$18M
Medical - Care Facilities3.1%+2.5pp$13M
Drug Manufacturers - Specialty & Generic0.6%+0.5pp$3M
Country
US84.9%+4.0pp
CA4.3%+1.7pp
Unknown4.1%-2.0pp
GB3.2%+2.2pp
IE1.1%+0.2pp
BE0.9%-0.0pp
DE0.7%-0.1pp
NL0.6%-5.6pp
Top 5: 37.0% · Top 10: 53.1% · Top 25: 77.9%
Top buys this quarter · 15
| CMPS COMPASS Pathways plc | +$9M |
| NKTR Nektar Therapeutics | +$6M |
| LRMR Larimar Therapeutics, Inc. | +$5M |
| BCAX Bicara Therapeutics Inc. Commo | +$3M |
| FULC Fulcrum Therapeutics, Inc.new | +$2M |
| KIDS OrthoPediatrics Corp.new | +$2M |
| CTMX CytomX Therapeutics, Inc. | +$1M |
| MAZE Maze Therapeutics, Inc.new | +$1M |
| RARE Ultragenyx Pharmaceutical Inc. | +$1M |
| SCYX SCYNEXIS, Inc. | +$1M |
Top sells this quarter · 15
| CYTK Cytokinetics, Incorporated | −$10M |
| AXGN AxoGen, Inc. | −$8M |
| ERAS Erasca, Inc.exit | −$4M |
| RVMD Revolution Medicines, Inc. | −$48M |
| XENE Xenon Pharmaceuticals Inc. | −$13M |
| KALV KalVista Pharmaceuticals, Inc. | −$2M |
| EWTX Edgewise Therapeutics, Inc. | −$1M |
| SNDX Syndax Pharmaceuticals, Inc. | −$1M |
| IDYA IDEAYA Biosciences, Inc. | −$1M |
| ANNX Annexon, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $434M | 82 | +68.90% | +17.59% | +51.30% | -0.01B |
| 2025-12-31 | $425M | 76 | +31.69% | +17.72% | +13.97% | -0.05B |
| 2025-09-30 | $399M | 74 | -2.76% | +17.52% | -20.28% | -0.08B |
| 2025-06-30 | $357M | 75 | -21.19% | +14.94% | -36.13% | -0.00B |
| 2025-03-31 | $348M | 82 | -38.06% | +8.30% | -46.36% | +0.03B |
| 2024-12-31 | $389M | 81 | -7.06% | +24.89% | -31.95% | +0.02B |
| 2024-09-30 | $419M | 83 | +44.52% | +36.04% | +8.48% | -0.03B |
| 2024-06-30 | $414M | 82 | +14.79% | +24.49% | -9.70% | +0.06B |
| 2024-03-31 | $435M | 71 | +20.53% | +29.62% | -9.09% | -0.07B |
| 2023-12-31 | $413M | 75 | -18.50% | +26.18% | -44.68% | -0.02B |
| 2023-09-30 | $318M | 74 | -50.41% | +21.57% | -71.98% | +0.01B |
| 2023-06-30 | $362M | 72 | -41.46% | +19.42% | -60.89% | +0.08B |
| 2023-03-31 | $334M | 72 | -49.10% | -7.82% | -41.28% | +0.04B |
| 2022-12-31 | $355M | 79 | -17.38% | +7.56% | -24.94% | +0.05B |
| 2022-09-30 | $369M | 85 | +0.94% | -4.93% | +5.87% | +0.00B |
| 2022-06-30 | $362M | 88 | -26.32% | -16.11% | -10.21% | +0.08B |