Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+2.64%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.03%
baseline attrition
Rally response
+1.49%
adds into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| BVSBioventus Inc. | $119M | 47.5% | -0.2% | 5.3 yr |
| MDXGMiMedx Group, Inc. | $111M | 44.5% | -48.0% | 5.0 yr |
| EYPTEyePoint Pharmaceuticals | $14M | 5.6% | +137.8% | 5.5 yr |
| TELATELA Bio, Inc. | $5M | 1.9% | -49.2% | 6.5 yr |
| MNOVMediciNova, Inc. | $2M | 0.6% | -6.2% | 10.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology50.6%-13.5pp$127M
Medical - Devices49.4%+13.5pp$124M
Country
US100.0%+0.1pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 1
| VERO Venus Concept Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $251M | 5 | -28.38% | +17.59% | -45.97% | -0.00B |
| 2025-12-31 | $318M | 6 | -26.98% | +17.72% | -44.70% | +0.00B |
| 2025-09-30 | $307M | 6 | -10.72% | +17.52% | -28.24% | -0.00B |
| 2025-06-30 | $279M | 6 | -7.85% | +14.94% | -22.79% | -0.00B |
| 2025-03-31 | $347M | 6 | +2.01% | +8.30% | -6.29% | -0.00B |
| 2024-12-31 | $433M | 7 | +14.07% | +24.89% | -10.82% | -0.00B |
| 2024-09-30 | $350M | 7 | +88.24% | +36.04% | +52.20% | +0.00B |
| 2024-06-30 | $307M | 7 | +55.86% | +24.49% | +31.37% | -0.00B |
| 2024-03-31 | $345M | 7 | +169.28% | +29.62% | +139.65% | -0.02B |
| 2023-12-31 | $404M | 7 | +181.95% | +26.18% | +155.77% | +0.17B |
| 2023-09-30 | $113M | 6 | -1.16% | +21.57% | -22.73% | -0.01B |
| 2023-06-30 | $132M | 6 | -10.91% | +19.42% | -30.34% | -0.13B |
| 2023-03-31 | $173M | 7 | -73.37% | -7.82% | -65.56% | +0.00B |
| 2022-12-31 | $179M | 7 | -27.68% | +7.56% | -35.24% | +0.00B |
| 2022-09-30 | $242M | 7 | -14.92% | -4.93% | -9.99% | +0.04B |
| 2022-06-30 | $242M | 9 | -53.97% | -16.11% | -37.86% | +0.05B |