Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-4.90%
trims when stocks drop
when a holding falls −10%+
Middle response
-1.70%
baseline attrition
Rally response
-7.86%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KRMNKarman Holdings Inc. | $70M | 33.8% | +139.5% | 0.5 yr |
| — | $47M | 22.7% | — | 0.8 yr |
| — | $26M | 12.6% | — | 0.3 yr |
| OKUROnKure Therapeutics, Inc | $11M | 5.3% | -3.7% | 1.5 yr |
| PATHUiPath Inc. | $10M | 4.8% | +7.8% | 4.8 yr |
| — | $10M | 4.7% | — | 0.8 yr |
| TRDAEntrada Therapeutics, In | $10M | 4.6% | +39.6% | 4.5 yr |
| NAVNNavan, Inc. | $6M | 3.1% | — | 0.5 yr |
| PHATPhathom Pharmaceuticals, | $5M | 2.3% | +77.2% | 4.8 yr |
| EIKNEikon Therapeutics, Inc. | $4M | 2.0% | — | 0.3 yr |
| DKNGDraftKings Inc. | $3M | 1.7% | -34.9% | 1.8 yr |
| CHYMChime Financial, Inc. Cl | $3M | 1.4% | — | 0.8 yr |
| MDBMongoDB, Inc. | $0M | 0.2% | +39.5% | 0.5 yr |
| — | $0M | 0.2% | — | 3.0 yr |
| TNYATenaya Therapeutics, Inc | $0M | 0.2% | +21.5% | 4.8 yr |
Portfolio composition (YoY)
Industry mix
Unknown40.4%-15.0pp$84M
Aerospace & Defense33.8%$70M
Biotechnology14.4%+0.9pp$30M
Software - Infrastructure5.1%-11.9pp$11M
Software - Application3.2%+2.6pp$7M
Gambling, Resorts & Casinos1.7%-5.6pp$3M
Banks - Regional1.4%$3M
Country
US59.6%+17.1pp
Unknown40.4%-15.0pp
Top 5: 79.4% · Top 10: 96.1% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $207M | 18 | +13.62% | +17.59% | -3.98% | +0.05B |
| 2025-12-31 | $174M | 21 | -2.51% | +17.72% | -20.22% | -0.06B |
| 2025-09-30 | $213M | 16 | -14.34% | +17.52% | -31.86% | +0.16B |
| 2025-06-30 | $50M | 14 | -7.41% | +14.94% | -22.35% | -0.06B |
| 2025-03-31 | $97M | 16 | -34.70% | +8.30% | -43.00% | +0.01B |
| 2024-12-31 | $114M | 14 | -21.01% | +24.89% | -45.90% | -0.15B |
| 2024-09-30 | $274M | 14 | +7.35% | +36.04% | -28.69% | -0.28B |
| 2024-06-30 | $493M | 16 | -13.71% | +24.49% | -38.20% | +0.12B |
| 2024-03-31 | $472M | 21 | +11.16% | +29.62% | -18.46% | -0.04B |
| 2023-12-31 | $556M | 22 | -5.69% | +26.18% | -31.86% | +0.00B |
| 2023-09-30 | $421M | 18 | -35.14% | +21.57% | -56.71% | -0.07B |
| 2023-06-30 | $541M | 24 | -15.51% | +19.42% | -34.94% | -0.00B |
| 2023-03-31 | $538M | 21 | -26.52% | -7.82% | -18.70% | -0.05B |
| 2022-12-31 | $760M | 23 | -9.31% | +7.56% | -16.87% | +0.12B |
| 2022-09-30 | $703M | 30 | +18.19% | -4.93% | +23.12% | -0.40B |
| 2022-06-30 | $935M | 27 | -12.07% | -16.11% | +4.04% | -0.24B |