Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-10.98%
trims when stocks drop
when a holding falls −10%+
Middle response
-4.24%
baseline attrition
Rally response
-19.13%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $1M | 8.6% | — | 0.8 yr |
| MLTXMoonLake Immunotherapeut | $1M | 7.5% | -52.3% | 0.8 yr |
| RPRXRoyalty Pharma plc | $1M | 6.1% | +57.7% | 0.8 yr |
| MISTMilestone Pharmaceutical | $1M | 5.8% | +48.7% | 4.3 yr |
| GERNGeron Corporation | $1M | 5.1% | -6.3% | 2.3 yr |
| SNDXSyndax Pharmaceuticals, | $1M | 5.0% | +90.1% | 3.0 yr |
| ARDXArdelyx, Inc. | $1M | 4.6% | +22.0% | 3.8 yr |
| FENCFennec Pharmaceuticals I | $1M | 4.1% | +1.0% | 3.0 yr |
| — | $1M | 3.9% | — | 1.8 yr |
| SRPTSarepta Therapeutics, In | $1M | 3.7% | -65.9% | 0.5 yr |
| IRONDisc Medicine, Inc. | $1M | 3.1% | +28.8% | 1.8 yr |
| — | $1M | 3.0% | — | 0.5 yr |
| CMPSCOMPASS Pathways plc | $0M | 2.6% | +93.4% | 0.8 yr |
| — | $0M | 2.6% | — | 1.8 yr |
| LNTHLantheus Holdings, Inc. | $0M | 2.5% | -22.3% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology69.0%+3.8pp$12M
Unknown20.6%-14.2pp$3M
Drug Manufacturers - Specialty & Generic6.6%$1M
Medical - Care Facilities2.6%$0M
Semiconductors1.2%$0M
Country
US60.5%-1.4pp
Unknown20.6%-14.2pp
CH7.5%
CA5.8%+2.5pp
GB2.6%
NL1.4%
IE0.9%
FR0.6%
Top 5: 33.2% · Top 10: 54.6% · Top 25: 89.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $17M | 35 | +40.03% | +17.59% | +22.44% | -0.00B |
| 2025-12-31 | $19M | 39 | +15.99% | +17.72% | -1.73% | +0.00B |
| 2025-09-30 | $17M | 26 | +5.15% | +17.52% | -12.36% | +0.00B |
| 2025-06-30 | $14M | 18 | -14.57% | +14.94% | -29.51% | -0.00B |
| 2025-03-31 | $13M | 20 | -25.52% | +8.30% | -33.83% | +0.00B |
| 2024-12-31 | $17M | 18 | +13.24% | +24.89% | -11.65% | -0.01B |
| 2024-09-30 | $21M | 22 | +1.05% | +36.04% | -34.99% | -0.01B |
| 2024-06-30 | $27M | 23 | +3.77% | +24.49% | -20.72% | -0.02B |
| 2024-03-31 | $50M | 26 | +17.01% | +29.62% | -12.61% | -0.08B |
| 2023-12-31 | $109M | 26 | -6.60% | +26.18% | -32.78% | +0.01B |
| 2023-09-30 | $107M | 25 | -0.14% | +21.57% | -21.71% | -0.03B |
| 2023-06-30 | $134M | 25 | +13.76% | +19.42% | -5.67% | -0.05B |
| 2023-03-31 | $180M | 28 | -7.95% | -7.82% | -0.13% | +0.03B |
| 2022-12-31 | $157M | 21 | -2.34% | +7.56% | -9.90% | -0.07B |
| 2022-09-30 | $236M | 27 | +16.14% | -4.93% | +21.07% | -0.08B |
| 2022-06-30 | $271M | 26 | -15.57% | -16.11% | +0.54% | +0.02B |