Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.71%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.45%
baseline attrition
Rally response
-0.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KLACKLA Corporation | $29M | 16.7% | +118.2% | 1.0 yr |
| BMYBristol-Myers Squibb Com | $19M | 10.6% | +3.4% | 7.3 yr |
| CMPXCompass Therapeutics, In | $8M | 4.4% | +178.4% | 1.0 yr |
| LRCXLam Research Corporation | $8M | 4.4% | +196.1% | 0.5 yr |
| STOKStoke Therapeutics, Inc. | $7M | 3.9% | +389.6% | 6.3 yr |
| OVVOvintiv Inc. | $6M | 3.6% | +42.6% | 6.0 yr |
| NTLAIntellia Therapeutics, I | $6M | 3.3% | +80.3% | 1.0 yr |
| GPCRStructure Therapeutics I | $5M | 2.7% | +178.5% | 1.0 yr |
| — | $5M | 2.6% | — | 1.3 yr |
| PRTAProthena Corporation plc | $4M | 2.5% | -21.5% | 5.3 yr |
| — | $4M | 2.4% | — | 5.5 yr |
| ACADACADIA Pharmaceuticals I | $4M | 2.2% | +34.0% | 7.0 yr |
| PTGXProtagonist Therapeutics | $4M | 2.1% | +117.9% | 5.3 yr |
| NBIXNeurocrine Biosciences, | $4M | 2.0% | +19.1% | 10.5 yr |
| OLMAOlema Pharmaceuticals, I | $3M | 1.9% | +296.5% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology49.3%+11.5pp$87M
Semiconductors21.0%$37M
Drug Manufacturers - General11.1%-25.2pp$19M
Unknown8.1%+1.5pp$14M
Oil & Gas Exploration & Production4.9%+1.3pp$9M
Medical - Devices1.3%-5.7pp$2M
Medical - Instruments & Supplies1.3%+0.8pp$2M
Medical - Care Facilities1.2%-0.8pp$2M
Copper0.6%$1M
Drug Manufacturers - Specialty & Generic0.5%-1.2pp$1M
Country
US82.6%-2.7pp
Unknown8.1%+1.5pp
IE3.5%-1.5pp
GB2.4%
NL1.4%+0.6pp
JE1.3%+0.8pp
CA0.7%+0.1pp
Top 5: 39.9% · Top 10: 54.6% · Top 25: 78.5%
Top buys this quarter · 15
| RLMD Relmada Therapeutics, Inc.new | +$3M |
| OCUL Ocular Therapeutix, Inc.new | +$3M |
| CLDX Celldex Therapeutics, Inc.new | +$2M |
| CMPS COMPASS Pathways plcnew | +$2M |
| NTLA Intellia Therapeutics, Inc. | +$2M |
| PACB Pacific Biosciences of Califor | +$1M |
| QURE uniQure N.V. | +$1M |
| ZBIO Zenas BioPharma, Inc. | +$1M |
| UTHR United Therapeutics Corporatio | +$1M |
| IDYA IDEAYA Biosciences, Inc.new | +$1M |
Top sells this quarter · 15
| FOLD Amicus Therapeutics, Inc.exit | −$4M |
| KLAC KLA Corporation | −$27M |
| PTGX Protagonist Therapeutics, Inc. | −$2M |
| IMNM Immunome, Inc. | −$2M |
| CSTL Castle Biosciences, Inc. | −$2M |
| STOK Stoke Therapeutics, Inc. | −$2M |
| MASI Masimo Corporationexit | −$1M |
| VTYX Ventyx Biosciences, Inc.exit | −$1M |
| TXG 10x Genomics, Inc.exit | −$1M |
| BIIB Biogen Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $176M | 73 | +25.35% | +17.59% | +7.76% | +0.00B |
| 2025-12-31 | $171M | 68 | +22.83% | +17.72% | +5.11% | +0.02B |
| 2025-09-30 | $132M | 69 | +12.34% | +17.52% | -5.17% | +0.01B |
| 2025-06-30 | $101M | 71 | +6.40% | +14.94% | -8.54% | -0.00B |
| 2025-03-31 | $115M | 67 | +8.99% | +8.30% | +0.69% | -0.01B |
| 2024-12-31 | $123M | 67 | +10.94% | +24.89% | -13.95% | +0.00B |
| 2024-09-30 | $115M | 61 | +10.47% | +36.04% | -25.57% | -0.01B |
| 2024-06-30 | $108M | 60 | -15.38% | +24.49% | -39.87% | -0.00B |
| 2024-03-31 | $123M | 59 | -5.20% | +29.62% | -34.83% | -0.01B |
| 2023-12-31 | $128M | 58 | -14.00% | +26.18% | -40.18% | +0.00B |
| 2023-09-30 | $118M | 51 | -19.50% | +21.57% | -41.07% | +0.00B |
| 2023-06-30 | $133M | 54 | -3.86% | +19.42% | -23.28% | +0.00B |
| 2023-03-31 | $128M | 55 | -4.82% | -7.82% | +2.99% | -0.00B |
| 2022-12-31 | $142M | 57 | -2.09% | +7.56% | -9.66% | +0.00B |
| 2022-09-30 | $142M | 60 | +3.48% | -4.93% | +8.41% | -0.00B |
| 2022-06-30 | $137M | 60 | +1.58% | -16.11% | +17.69% | -0.00B |