Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-46.45%
trims when stocks drop
when a holding falls −10%+
Middle response
-30.56%
baseline attrition
Rally response
—
—
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| XFORX4 Pharmaceuticals, Inc. | $37M | 44.5% | — | 0.5 yr |
| VLCNVolcon, Inc. | $12M | 14.9% | — | 0.5 yr |
| — | $11M | 13.0% | — | 0.5 yr |
| — | $4M | 4.5% | — | 0.5 yr |
| VENUVenu Holding Corporation | $3M | 4.0% | — | 0.3 yr |
| TNYATenaya Therapeutics, Inc | $3M | 3.6% | — | 0.5 yr |
| USEGU.S. Energy Corp. | $2M | 2.0% | -78.7% | 0.3 yr |
| SCYXSCYNEXIS, Inc. | $2M | 2.0% | -76.5% | 0.5 yr |
| CYNCyngn Inc. | $2M | 1.9% | — | 0.3 yr |
| JAGUJaguar Uranium Corp. Cla | $1M | 1.6% | — | 0.3 yr |
| MSLESatellos Bioscience Inc. | $1M | 1.6% | — | 0.3 yr |
| — | $1M | 1.3% | — | 0.5 yr |
| URGUr-Energy Inc. | $1M | 1.1% | -6.9% | 0.3 yr |
| — | $1M | 0.9% | — | 0.3 yr |
| SLESuper League Enterprise, | $0M | 0.6% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology48.3%+27.7pp$40M
Unknown21.0%-22.6pp$17M
Auto - Manufacturers14.9%$12M
Restaurants4.0%-1.9pp$3M
Uranium2.7%$2M
Drug Manufacturers - Specialty & Generic2.6%-2.7pp$2M
Oil & Gas Exploration & Production2.0%+1.7pp$2M
Software - Application1.9%+0.3pp$2M
Medical - Pharmaceuticals1.6%$1M
Internet Content & Information0.6%$0M
Country
US75.3%+35.7pp
Unknown21.0%-22.6pp
CA3.3%-1.0pp
HK0.3%
IL0.1%-1.7pp
Top 5: 81.0% · Top 10: 92.2% · Top 25: 99.9%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 13
| VENU Venu Holding Corporationnew | +$3M |
| USEG U.S. Energy Corp.new | +$2M |
| SCYX SCYNEXIS, Inc. | +$2M |
| CYN Cyngn Inc.new | +$2M |
| JAGU Jaguar Uranium Corp. Class Anew | +$1M |
| URG Ur-Energy Inc.new | +$1M |
| SLE Super League Enterprise, Inc.new | +$1M |
| — new | +$0M |
| — new | +$0M |
| MSLE Satellos Bioscience Inc. Commonew | +$0M |
Top sells this quarter · 15
| IMRX Immuneering Corporationexit | −$14M |
| KZIA Kazia Therapeutics Limitedexit | −$1M |
| EOSE Eos Energy Enterprises, Inc.exit | −$1M |
| PROF Profound Medical Corp.exit | −$1M |
| TNYA Tenaya Therapeutics, Inc. | −$1M |
| TLPH Talphera, Inc. | −$1M |
| TARA Protara Therapeutics, Inc.exit | −$0M |
| XFOR X4 Pharmaceuticals, Inc. | −$36M |
| — | −$0M |
| — | −$9M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $83M | 32 | -63.07% | -21.70% | -41.37% | -0.02B |
| 2025-12-31 | $113M | 31 | -1.58% | +2.66% | -4.25% | +0.10B |
| 2022-09-30 | $17M | 88 | -34.77% | -4.93% | -29.84% | +0.00B |
| 2022-06-30 | $18M | 75 | -37.96% | -16.11% | -21.85% | +0.01B |
| 2022-03-31 | $21M | 77 | — | — | — | -0.03B |
| 2021-12-31 | $48M | 66 | — | — | — | — |