Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.40%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.25%
baseline attrition
Rally response
-5.57%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GHGuardant Health, Inc. | $218M | 3.7% | +116.8% | 4.8 yr |
| TTTrane Technologies plc | $169M | 2.8% | +24.8% | 6.3 yr |
| LRCXLam Research Corporation | $147M | 2.5% | +196.1% | 1.5 yr |
| MIRMMirum Pharmaceuticals, I | $130M | 2.2% | +105.1% | 3.8 yr |
| TRGPTarga Resources Corp. | $126M | 2.1% | +28.0% | 4.3 yr |
| XMTRXometry, Inc. | $121M | 2.0% | +63.9% | 5.0 yr |
| GEVGE Vernova Inc. | $116M | 1.9% | +186.8% | 1.5 yr |
| ODFLOld Dominion Freight Lin | $115M | 1.9% | +18.9% | 7.0 yr |
| SRRKScholar Rock Holding Cor | $108M | 1.8% | +52.9% | 2.5 yr |
| ARGXargenx SE | $92M | 1.5% | +23.4% | 8.3 yr |
| ASMLASML Holding N.V. | $90M | 1.5% | +100.9% | 10.5 yr |
| IRTCiRhythm Technologies, In | $90M | 1.5% | +12.7% | 4.0 yr |
| AXSMAxsome Therapeutics, Inc | $88M | 1.5% | +44.9% | 2.8 yr |
| PCVXVaxcyte, Inc. | $80M | 1.3% | +53.9% | 2.8 yr |
| ETREntergy Corporation | $77M | 1.3% | +35.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology23.2%+1.7pp$1.38B
Semiconductors9.5%+3.3pp$564M
Medical - Diagnostics & Research4.9%+0.3pp$292M
Medical - Devices4.7%-1.3pp$279M
Industrial - Machinery4.4%+1.3pp$260M
Oil & Gas Midstream4.3%-0.1pp$254M
Construction2.8%+0.2pp$169M
Unknown2.5%+1.0pp$150M
Renewable Utilities2.3%+0.7pp$138M
Software - Infrastructure2.3%-2.1pp$135M
Country
US83.9%+0.2pp
IE3.7%+0.3pp
NL3.0%+0.7pp
GB3.0%-2.6pp
Unknown2.5%+1.0pp
CA1.2%-0.2pp
CH0.6%+0.6pp
IL0.6%-1.6pp
Top 5: 13.3% · Top 10: 22.5% · Top 25: 40.6%
Top buys this quarter · 15
| GNRC Generac Holdings Inc. | +$42M |
| WGS GeneDx Holdings Corp.new | +$29M |
| PCVX Vaxcyte, Inc. | +$27M |
| CNTA Centessa Pharmaceuticals plcnew | +$27M |
| TER Teradyne, Inc. | +$26M |
| ULS UL Solutions Inc.new | +$23M |
| HAL Halliburton Company | +$20M |
| DNTH Dianthus Therapeutics, Inc.new | +$19M |
| WTW Willis Towers Watson Public Linew | +$18M |
| PANW Palo Alto Networks, Inc. | +$17M |
Top sells this quarter · 15
| MIRM Mirum Pharmaceuticals, Inc. | −$63M |
| GEV GE Vernova Inc. | −$47M |
| PTGX Protagonist Therapeutics, Inc. | −$33M |
| ROP Roper Technologies, Inc. | −$31M |
| SNDX Syndax Pharmaceuticals, Inc.exit | −$29M |
| SITM SiTime Corporation | −$28M |
| LAD Lithia Motors, Inc. | −$28M |
| EXAS Exact Sciences Corporationexit | −$26M |
| TGTX TG Therapeutics, Inc.exit | −$24M |
| INSP Inspire Medical Systems, Inc.exit | −$23M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $5.96B | 277 | +31.31% | +17.59% | +13.72% | -0.21B |
| 2025-12-31 | $6.32B | 267 | +27.78% | +17.72% | +10.06% | -0.16B |
| 2025-09-30 | $5.94B | 238 | +15.73% | +17.52% | -1.79% | -0.18B |
| 2025-06-30 | $5.59B | 236 | +14.01% | +14.94% | -0.94% | +0.04B |
| 2025-03-31 | $4.93B | 216 | -5.52% | +8.30% | -13.82% | -0.22B |
| 2024-12-31 | $5.42B | 203 | +3.97% | +24.89% | -20.92% | -0.26B |
| 2024-09-30 | $5.74B | 179 | +17.30% | +36.04% | -18.73% | -0.51B |
| 2024-06-30 | $5.80B | 158 | +2.17% | +24.49% | -22.32% | -0.13B |
| 2024-03-31 | $6.36B | 155 | +20.03% | +29.62% | -9.59% | -0.03B |
| 2023-12-31 | $6.10B | 150 | +21.05% | +26.18% | -5.12% | -0.07B |
| 2023-09-30 | $5.54B | 152 | +11.74% | +21.57% | -9.83% | +0.00B |
| 2023-06-30 | $5.90B | 137 | +19.35% | +19.42% | -0.07% | -0.06B |
| 2023-03-31 | $5.43B | 147 | -21.23% | -7.82% | -13.41% | +0.10B |
| 2022-12-31 | $5.06B | 142 | +2.99% | +7.56% | -4.57% | -0.18B |
| 2022-09-30 | $5.08B | 137 | +0.28% | -4.93% | +5.20% | +0.39B |
| 2022-06-30 | $4.67B | 135 | -27.68% | -16.11% | -11.57% | +0.07B |