Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-5.25%
trims when stocks drop
when a holding falls −10%+
Middle response
-2.60%
baseline attrition
Rally response
+2.06%
adds into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| EVMNEvommune, Inc. | $33M | 27.6% | — | 0.5 yr |
| MPLTMapLight Therapeutics, I | $20M | 16.4% | — | 0.5 yr |
| LBRXLB Pharmaceuticals Inc C | $16M | 12.9% | — | 0.8 yr |
| — | $9M | 7.8% | — | 3.3 yr |
| INCYIncyte Corporation | $5M | 4.2% | +55.4% | 4.5 yr |
| ONCBeOne Medicines Ltd. | $5M | 3.9% | +9.1% | 4.5 yr |
| RYTMRhythm Pharmaceuticals, | $4M | 3.6% | +64.2% | 3.5 yr |
| CELCCelcuity Inc. | $3M | 2.7% | +1029.0% | 0.3 yr |
| — | $3M | 2.6% | — | 3.8 yr |
| PCORProcore Technologies, In | $3M | 2.5% | -13.7% | 0.5 yr |
| MDGLMadrigal Pharmaceuticals | $3M | 2.5% | +58.0% | 3.3 yr |
| KYMRKymera Therapeutics, Inc | $3M | 2.1% | +204.3% | 2.5 yr |
| ACADACADIA Pharmaceuticals I | $2M | 1.9% | +34.0% | 4.5 yr |
| CYBNCybin Inc. | $2M | 1.8% | — | 0.5 yr |
| ARGXargenx SE | $2M | 1.7% | +23.4% | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology82.1%+10.1pp$99M
Unknown10.3%-4.8pp$12M
Medical - Pharmaceuticals3.9%+0.4pp$5M
Software - Application2.5%$3M
Asset Management1.2%$1M
Country
US86.1%+26.7pp
Unknown10.3%-4.8pp
CA1.8%-2.5pp
NL1.7%-3.8pp
Top 5: 68.9% · Top 10: 84.1% · Top 25: 100.0%
Top sells this quarter · 9
| MDGL Madrigal Pharmaceuticals, Inc. | −$3M |
| LAB Standard BioTools Inc.exit | −$2M |
| INCY Incyte Corporation | −$0M |
| REPL Replimune Group, Inc.exit | −$0M |
| BCYC Bicycle Therapeutics plcexit | −$0M |
| RKLB Rocket Lab USA, Inc.exit | −$0M |
| BOLT Bolt Biotherapeutics, Inc. | −$0M |
| — | −$0M |
| BSLK Bolt Projects Holdings, Inc.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $120M | 23 | +42.65% | +17.59% | +25.06% | -0.00B |
| 2025-12-31 | $112M | 27 | +18.07% | +17.72% | +0.35% | +0.04B |
| 2025-09-30 | $60M | 24 | -1.48% | +17.52% | -19.00% | -0.01B |
| 2025-06-30 | $63M | 20 | +2.07% | +14.94% | -12.87% | -0.06B |
| 2025-03-31 | $123M | 35 | -10.32% | +8.30% | -18.62% | +0.02B |
| 2024-12-31 | $117M | 35 | -4.15% | +24.89% | -29.04% | +0.01B |
| 2024-09-30 | $116M | 38 | +2.69% | +36.04% | -33.35% | +0.01B |
| 2024-06-30 | $94M | 44 | -27.57% | +24.49% | -52.07% | -0.00B |
| 2024-03-31 | $108M | 45 | -22.67% | +29.62% | -52.30% | -0.05B |
| 2023-12-31 | $161M | 39 | -24.67% | +26.18% | -50.85% | +0.03B |
| 2023-09-30 | $123M | 39 | -19.98% | +21.57% | -41.54% | -0.00B |
| 2023-06-30 | $156M | 43 | -6.96% | +19.42% | -26.38% | +0.01B |
| 2023-03-31 | $147M | 44 | -21.39% | -7.82% | -13.57% | +0.01B |
| 2022-12-31 | $145M | 42 | +9.34% | +7.56% | +1.78% | -0.03B |
| 2022-09-30 | $157M | 39 | -4.83% | -4.93% | +0.10% | +0.02B |
| 2022-06-30 | $146M | 41 | -18.63% | -16.11% | -2.52% | -0.03B |