Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-1.65%
trims when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
-3.32%
trims into rallies
when a holding rises +10%+
Top positions · 5
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MBXMBX Biosciences, Inc. Co | $64M | 36.2% | +304.5% | 1.8 yr |
| BLLNBillionToOne, Inc. | $41M | 23.0% | — | 0.5 yr |
| ZBIOZenas BioPharma, Inc. | $36M | 20.4% | +147.5% | 1.8 yr |
| OMDAOmada Health | $32M | 18.1% | — | 1.0 yr |
| — | $4M | 2.3% | — | 3.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology56.6%+29.6pp$100M
Medical - Diagnostics & Research23.0%$41M
Medical - Healthcare Information Services18.1%$32M
Unknown2.3%-44.5pp$4M
Country
US97.7%+44.5pp
Unknown2.3%-44.5pp
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
| TALK Talkspace, Inc.exit | −$51M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $176M | 5 | +102.74% | +17.59% | +85.15% | -0.04B |
| 2025-12-31 | $255M | 6 | +74.13% | +17.72% | +56.41% | +0.04B |
| 2025-09-30 | $166M | 5 | +18.89% | +17.52% | +1.37% | -0.11B |
| 2025-06-30 | $184M | 7 | -28.66% | +14.94% | -43.60% | +0.05B |
| 2025-03-31 | $112M | 6 | -59.13% | +8.30% | -67.43% | -0.03B |
| 2024-12-31 | $187M | 7 | -45.78% | +24.89% | -70.67% | +0.03B |
| 2024-09-30 | $176M | 8 | -8.71% | +36.04% | -44.75% | +0.09B |
| 2024-06-30 | $91M | 6 | -3.11% | +24.49% | -27.60% | +0.00B |
| 2024-03-31 | $126M | 6 | +76.57% | +29.62% | +46.95% | +0.02B |
| 2023-12-31 | $112M | 6 | +59.25% | +26.18% | +33.07% | -0.05B |
| 2023-09-30 | $112M | 8 | -3.37% | -3.22% | -0.15% | +0.00B |
| 2023-06-30 | $115M | 9 | +25.44% | +8.68% | +16.75% | +0.01B |
| 2023-03-31 | $87M | 8 | -12.12% | +7.46% | -19.58% | -0.00B |
| 2022-12-31 | $102M | 8 | — | — | — | — |