Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.41%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.62%
baseline attrition
Rally response
-10.81%
trims into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ALMSAlumis Inc. Common Stock | $130M | 47.9% | +258.8% | 2.0 yr |
| CGONCG Oncology, Inc. Common | $68M | 25.1% | +176.4% | 2.3 yr |
| IRONDisc Medicine, Inc. | $24M | 8.8% | +28.8% | 3.5 yr |
| HIMSHims & Hers Health, Inc. | $15M | 5.7% | -29.7% | 5.3 yr |
| EIKNEikon Therapeutics, Inc. | $14M | 5.1% | — | 0.3 yr |
| LYELLyell Immunopharma, Inc. | $10M | 3.5% | — | 1.0 yr |
| PHVSPharvaris N.V. | $5M | 2.0% | +79.9% | 3.0 yr |
| NRIXNurix Therapeutics, Inc. | $4M | 1.5% | +30.5% | 1.3 yr |
| MAZEMaze Therapeutics, Inc. | $1M | 0.3% | +171.1% | 1.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology94.3%+8.6pp$256M
Medical - Equipment & Services5.7%-3.6pp$15M
Country
US98.0%+3.0pp
NL2.0%
Top 5: 92.6% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ALMS | $35M | +0.09B | 258.8% |
| CGON | $21M | +0.04B | 176.4% |
| MAZE | $4M | +0.01B | 171.1% |
| IRON | $15M | +0.00B | 28.8% |
| HIMS | $8M | -0.00B | -29.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| HIMS | $8M | -0.00B | -29.7% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $271M | 9 | +156.88% | +17.59% | +139.29% | +0.02B |
| 2025-12-31 | $164M | 7 | +51.28% | +17.72% | +33.56% | +0.02B |
| 2025-09-30 | $109M | 6 | +2.09% | +17.52% | -15.42% | -0.01B |
| 2025-06-30 | $81M | 6 | -33.76% | +14.94% | -48.70% | +0.00B |
| 2025-03-31 | $88M | 6 | -22.53% | +8.30% | -30.84% | -0.02B |
| 2024-12-31 | $120M | 6 | +35.55% | +24.89% | +10.66% | -0.01B |
| 2024-09-30 | $144M | 5 | +73.25% | +36.04% | +37.21% | +0.00B |
| 2024-06-30 | $157M | 5 | +39.86% | +24.49% | +15.37% | +0.05B |
| 2024-03-31 | $107M | 5 | +26.03% | +29.62% | -3.60% | -0.01B |
| 2023-12-31 | $73M | 5 | -35.05% | +26.18% | -61.23% | -0.00B |
| 2023-09-30 | $63M | 7 | -56.58% | +21.57% | -78.15% | -0.04B |
| 2023-06-30 | $137M | 10 | -41.44% | +19.42% | -60.87% | +0.01B |
| 2023-03-31 | $135M | 11 | -53.76% | -7.82% | -45.94% | +0.03B |
| 2022-12-31 | $129M | 11 | -20.87% | +7.56% | -28.43% | +0.03B |
| 2022-09-30 | $130M | 14 | +0.03% | -4.93% | +4.96% | -0.01B |
| 2022-06-30 | $143M | 14 | -26.65% | -16.11% | -10.54% | -0.04B |