Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.88%
adds when stocks drop
when a holding falls −10%+
Middle response
-11.06%
baseline attrition
Rally response
-1.50%
trims into rallies
when a holding rises +10%+
Top positions · 6
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PHVSPharvaris N.V. | $131M | 46.7% | +79.9% | 5.3 yr |
| ALMSAlumis Inc. Common Stock | $100M | 35.6% | +258.8% | 2.0 yr |
| ALXOALX Oncology Holdings In | $26M | 9.2% | +222.6% | 5.8 yr |
| HRMYHarmony Biosciences Hold | $14M | 4.9% | -15.6% | 5.8 yr |
| LYELLyell Immunopharma, Inc. | $7M | 2.4% | — | 1.0 yr |
| ARTVArtiva Biotherapeutics, | $3M | 1.2% | +114.7% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology100.0%+3.1pp$281M
Country
US53.3%+10.9pp
NL46.7%-7.8pp
Top 5: 98.8% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| PHVS | $67M | +0.05B | 79.9% |
| ALMS | $17M | +0.04B | 258.8% |
| ALXO | $6M | +0.01B | 222.6% |
| ARTV | $4M | +0.00B | 114.7% |
| HRMY | $16M | -0.00B | -15.6% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| HRMY | $16M | -0.00B | -15.6% |
Top buys this quarter · 1
| ALXO ALX Oncology Holdings Inc. | +$6M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $281M | 6 | +125.04% | +17.59% | +107.44% | +0.00B |
| 2025-12-31 | $216M | 6 | +28.71% | +17.72% | +10.99% | -0.01B |
| 2025-09-30 | $176M | 6 | -8.61% | +17.52% | -26.13% | +0.01B |
| 2025-06-30 | $115M | 6 | -49.26% | +14.94% | -64.20% | -0.00B |
| 2025-03-31 | $124M | 7 | -62.53% | +8.30% | -70.83% | -0.00B |
| 2024-12-31 | $171M | 7 | -58.44% | +24.89% | -83.33% | -0.00B |
| 2024-09-30 | $194M | 6 | -26.20% | +36.04% | -62.23% | +0.01B |
| 2024-06-30 | $232M | 6 | -10.73% | +24.49% | -35.22% | +0.03B |
| 2024-03-31 | $282M | 5 | +60.66% | +29.62% | +31.04% | -0.26B |
| 2023-12-31 | $667M | 7 | +37.22% | +26.18% | +11.04% | +0.11B |
| 2023-09-30 | $353M | 8 | -7.01% | +21.57% | -28.57% | +0.08B |
| 2023-06-30 | $276M | 7 | +26.82% | +19.42% | +7.39% | +0.05B |
| 2023-03-31 | $180M | 6 | -29.88% | -7.82% | -22.06% | -0.04B |
| 2022-12-31 | $323M | 7 | +7.83% | +7.56% | +0.27% | -0.14B |
| 2022-09-30 | $432M | 8 | +33.80% | -4.93% | +38.73% | -0.04B |
| 2022-06-30 | $351M | 9 | -29.96% | -16.11% | -13.85% | +0.04B |