Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-22.29%
baseline attrition
Rally response
—
—
when a holding rises +10%+
Top positions · 13
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GTLSChart Industries, Inc. | $8M | 16.7% | +43.2% | 0.3 yr |
| JHGJanus Henderson Group pl | $8M | 16.6% | +46.4% | 0.5 yr |
| ACLXArcellx, Inc. | $8M | 16.3% | — | 0.3 yr |
| FOLDAmicus Therapeutics, Inc | $7M | 14.6% | +77.2% | 0.5 yr |
| APLSApellis Pharmaceuticals, | $6M | 11.7% | +84.0% | 0.3 yr |
| TERNTerns Pharmaceuticals, I | $5M | 10.4% | — | 0.3 yr |
| — | $2M | 4.3% | — | 1.3 yr |
| DHILDiamond Hill Investment | $1M | 3.0% | +28.6% | 0.3 yr |
| BLFYBlue Foundry Bancorp | $1M | 2.9% | +43.9% | 0.5 yr |
| THRThermon Group Holdings, | $1M | 2.3% | +81.0% | 0.3 yr |
| EAElectronic Arts Inc. | $0M | 0.6% | +41.7% | 0.5 yr |
| DAWNDay One Biopharmaceutica | $0M | 0.3% | +170.4% | 0.3 yr |
| HTBKHeritage Commerce Corp | $0M | 0.3% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology53.2%+48.5pp$26M
Asset Management19.6%$10M
Industrial - Machinery19.0%$9M
Unknown4.3%+0.9pp$2M
Banks - Regional3.2%-10.4pp$2M
Electronic Gaming & Multimedia0.6%$0M
Country
US79.1%-17.5pp
GB16.6%
Unknown4.3%+0.9pp
Top 5: 75.9% · Top 10: 98.8% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 11
| ACLX Arcellx, Inc.new | +$0M |
| HTBK Heritage Commerce Corpnew | +$0M |
| TERN Terns Pharmaceuticals, Inc.new | +$0M |
| GTLS Chart Industries, Inc.new | +$11M |
| APLS Apellis Pharmaceuticals, Inc.new | +$8M |
| FOLD Amicus Therapeutics, Inc. | +$4M |
| JHG Janus Henderson Group plc | +$2M |
| DHIL Diamond Hill Investment Group,new | +$2M |
| BLFY Blue Foundry Bancorp | +$2M |
| THR Thermon Group Holdings, Inc.new | +$2M |
Top sells this quarter · 14
| ALEX Alexander & Baldwin, Inc.exit | −$0M |
| ATXS Astria Therapeutics, Inc.exit | −$0M |
| RNAM Avidity Biosciences Incexit | −$0M |
| DAY Dayforce Incexit | −$0M |
| CDTX Cidara Therapeutics, Inc.exit | −$0M |
| FSFG First Savings Financial Group,exit | −$0M |
| GIFI Gulf Island Fabrication, Inc.exit | −$0M |
| IROQ IF Bancorp, Inc.exit | −$0M |
| — exit | −$0M |
| — exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $49M | 13 | +5.87% | -4.37% | +10.24% | -0.01B |
| 2025-12-31 | $52M | 19 | — | — | — | +0.02B |
| 2025-09-30 | $27M | 7 | -1.91% | +8.12% | -10.03% | -0.01B |
| 2025-06-30 | $42M | 15 | -4.70% | +10.78% | -15.48% | -0.00B |
| 2025-03-31 | $46M | 15 | -16.89% | -4.27% | -12.62% | +0.01B |
| 2024-12-31 | $47M | 15 | — | — | — | +0.00B |
| 2024-09-30 | $42M | 11 | — | — | — | +0.01B |
| 2024-06-30 | $28M | 12 | -10.63% | +4.38% | -15.00% | +0.01B |
| 2024-03-31 | $23M | 15 | -7.84% | +10.39% | -18.23% | -0.01B |
| 2023-12-31 | $33M | 18 | -2.00% | +11.64% | -13.64% | +0.00B |
| 2023-09-30 | $32M | 14 | — | — | — | -0.04B |
| 2023-06-30 | $74M | 14 | -21.69% | +19.42% | -41.12% | +0.00B |
| 2023-03-31 | $87M | 21 | -10.64% | -7.82% | -2.83% | +0.01B |
| 2022-12-31 | $108M | 22 | +23.42% | +7.56% | +15.86% | -0.12B |
| 2022-09-30 | $184M | 31 | +5.44% | -4.93% | +10.37% | -0.00B |
| 2022-06-30 | $176M | 29 | -6.32% | -16.11% | +9.79% | +0.01B |