Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.46%
adds when stocks drop
when a holding falls −10%+
Middle response
-13.52%
baseline attrition
Rally response
-20.62%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PGENPrecigen, Inc. | $26M | 6.9% | +159.7% | 1.3 yr |
| BMNRBitmine Immersion Techno | $9M | 2.3% | — | 0.8 yr |
| AIFCAI Financial Corporation | $7M | 1.8% | — | 0.8 yr |
| LQDALiquidia Corporation | $6M | 1.7% | +155.9% | 4.3 yr |
| FLGTFulgent Genetics, Inc. | $6M | 1.5% | -5.9% | 1.3 yr |
| GLNGGolar LNG Limited | $6M | 1.5% | +45.8% | 2.8 yr |
| PENNPENN Entertainment, Inc. | $5M | 1.3% | -7.8% | 1.8 yr |
| WYNNWynn Resorts, Limited | $5M | 1.3% | +22.7% | 3.8 yr |
| EATBrinker International, I | $5M | 1.2% | -4.2% | 6.0 yr |
| FPSForgent Power Solutions, | $4M | 1.1% | — | 0.3 yr |
| ASPIASP Isotopes Inc. Common | $4M | 1.1% | -5.8% | 1.8 yr |
| TDSTelephone and Data Syste | $4M | 1.0% | +9.1% | 1.5 yr |
| HROWHarrow Health, Inc. | $4M | 1.0% | +32.6% | 7.0 yr |
| ETONEton Pharmaceuticals, In | $4M | 1.0% | +90.1% | 3.5 yr |
| — | $4M | 1.0% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology15.3%+8.7pp$58M
Unknown9.1%-5.5pp$35M
Gambling, Resorts & Casinos4.5%+0.3pp$17M
Financial - Capital Markets3.5%$13M
Communication Equipment3.4%+0.2pp$13M
Restaurants2.7%+0.0pp$10M
Asset Management2.5%-0.6pp$10M
Software - Application2.5%-2.0pp$10M
Semiconductors2.5%-0.9pp$9M
Drug Manufacturers - Specialty & Generic2.1%+1.1pp$8M
Country
US79.7%+10.6pp
Unknown9.1%-5.5pp
BM2.2%-0.4pp
GB1.7%-2.1pp
CA1.3%-1.5pp
CN0.8%
KR0.6%
BR0.6%
Top 5: 14.2% · Top 10: 20.6% · Top 25: 33.3%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| LQDA | $1M | +0.00B | 155.9% |
| GLNG | $2M | +0.00B | 45.8% |
| ALAB | $0M | +0.00B | 83.7% |
| ETON | $0M | +0.00B | 90.1% |
| ASPI | $2M | -0.00B | -5.8% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ASPI | $2M | -0.00B | -5.8% |
Top buys this quarter · 15
| PGEN Precigen, Inc. | +$11M |
| FPS Forgent Power Solutions, Inc.new | +$4M |
| LQDA Liquidia Corporation | +$3M |
| PENN PENN Entertainment, Inc. | +$3M |
| GMTL Guardian Metal Resources PLC Snew | +$3M |
| NTGR NETGEAR, Inc. | +$3M |
| FLGT Fulgent Genetics, Inc. | +$3M |
| WBS Webster Financial Corporation | +$2M |
| VKTX Viking Therapeutics, Inc. | +$2M |
| ALAB Astera Labs, Inc. Common Stock | +$2M |
Top sells this quarter · 15
| HROW Harrow Health, Inc. | −$6M |
| RRR Red Rock Resorts, Inc.exit | −$5M |
| MU Micron Technology, Inc. | −$4M |
| AIFC AI Financial Corporation | −$4M |
| WBD Warner Bros. Discovery, Inc. | −$3M |
| TER Teradyne, Inc. | −$3M |
| CCO Clear Channel Outdoor Holdingsexit | −$3M |
| MGM MGM Resorts International | −$3M |
| FFIV F5, Inc. | −$2M |
| COHR Coherent, Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $381M | 469 | +35.10% | +17.59% | +17.50% | +0.02B |
| 2025-12-31 | $373M | 366 | +35.36% | +17.72% | +17.64% | +0.09B |
| 2025-09-30 | $269M | 372 | +36.65% | +17.52% | +19.14% | +0.05B |
| 2025-06-30 | $187M | 314 | +31.68% | +14.94% | +16.74% | +0.09B |
| 2025-03-31 | $84M | 208 | +13.87% | +8.30% | +5.57% | -0.06B |
| 2024-12-31 | $148M | 303 | +47.58% | +24.89% | +22.69% | -0.06B |
| 2024-09-30 | $202M | 366 | +52.57% | +36.04% | +16.54% | -0.00B |
| 2024-06-30 | $184M | 357 | +31.03% | +24.49% | +6.54% | +0.00B |
| 2024-03-31 | $180M | 323 | +36.15% | +29.62% | +6.53% | -0.03B |
| 2023-12-31 | $164M | 260 | +20.26% | +26.18% | -5.92% | -0.09B |
| 2023-09-30 | $239M | 332 | +15.28% | +21.57% | -6.29% | +0.02B |
| 2023-06-30 | $224M | 338 | +13.75% | +19.42% | -5.68% | +0.01B |
| 2023-03-31 | $208M | 336 | -12.45% | -7.82% | -4.63% | -0.02B |
| 2022-12-31 | $207M | 300 | +3.58% | +7.56% | -3.98% | +0.00B |
| 2022-09-30 | $197M | 246 | -5.14% | -4.93% | -0.21% | +0.07B |
| 2022-06-30 | $135M | 269 | -19.32% | -16.11% | -3.21% | -0.01B |