Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.96%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
-9.42%
trims into rallies
when a holding rises +10%+
Top positions · 16
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NAVNNavan, Inc. | $374M | 28.9% | — | 0.5 yr |
| FIGFigma, Inc. | $338M | 26.2% | — | 0.8 yr |
| METAMeta Platforms, Inc. | $122M | 9.4% | -0.4% | 0.8 yr |
| RVMDRevolution Medicines, In | $90M | 6.9% | +175.0% | 2.5 yr |
| NAUTNautilus Biotechnology, | $68M | 5.3% | +350.6% | 2.5 yr |
| SQBlock, Inc. | $61M | 4.7% | — | 2.5 yr |
| BIOABioAge Labs, Inc. | $57M | 4.4% | +365.2% | 1.8 yr |
| MAZEMaze Therapeutics, Inc. | $51M | 3.9% | +171.1% | 1.3 yr |
| ERASErasca, Inc. | $46M | 3.6% | +1081.0% | 2.5 yr |
| DMRAGalecto, Inc. | $32M | 2.5% | — | 0.3 yr |
| OMDAOmada Health | $29M | 2.2% | — | 1.0 yr |
| CAMPCAMP4 Therapeutics Corpo | $9M | 0.7% | +10.3% | 1.5 yr |
| AKTSAktis Oncology, Inc. | $7M | 0.6% | — | 0.3 yr |
| BTGOBitGo Holdings, Inc. | $5M | 0.4% | — | 0.3 yr |
| DNAGinkgo Bioworks Holdings | $1M | 0.1% | +7.5% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Software - Application55.2%+55.1pp$712M
Biotechnology28.0%+5.7pp$361M
Internet Content & Information9.4%-32.2pp$122M
Software - Infrastructure4.7%-25.0pp$61M
Medical - Healthcare Information Services2.2%-3.1pp$29M
Financial - Capital Markets0.4%$5M
Unknown0.0%$0M
Country
US100.0%-0.0pp
Unknown0.0%
Top 5: 76.8% · Top 10: 96.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| RVMD | $97M | +0.17B | 175.0% |
| NAUT | $15M | +0.05B | 350.6% |
| BIOA | $12M | +0.04B | 365.2% |
| ERAS | $4M | +0.04B | 1081.0% |
| MAZE | $19M | +0.03B | 171.1% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.29B | 16 | +3.67% | +17.59% | -13.92% | +0.05B |
| 2025-12-31 | $1.58B | 12 | +21.12% | +17.72% | +3.40% | +0.30B |
| 2025-09-30 | $1.39B | 11 | +47.22% | +17.52% | +29.70% | +0.98B |
| 2025-06-30 | $313M | 10 | +28.98% | +14.94% | +14.04% | -0.45B |
| 2025-03-31 | $701M | 13 | +13.56% | +8.30% | +5.26% | +0.02B |
| 2024-12-31 | $745M | 12 | +65.57% | +24.89% | +40.68% | -0.48B |
| 2024-09-30 | $1.10B | 12 | +16.13% | +5.75% | +10.38% | -0.26B |
| 2024-06-30 | $1.17B | 13 | -4.59% | +4.38% | -8.97% | -0.15B |
| 2024-03-31 | $1.38B | 13 | +34.09% | +10.39% | +23.70% | -0.80B |
| 2023-12-31 | $1.62B | 16 | — | — | — | — |