Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.21%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.03%
baseline attrition
Rally response
-0.03%
trims into rallies
when a holding rises +10%+
Top positions · 12
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| DMRAGalecto, Inc. | $226M | 16.3% | — | 0.3 yr |
| DNTHDianthus Therapeutics, I | $213M | 15.4% | +362.6% | 2.8 yr |
| COGTCogent Biosciences, Inc. | $212M | 15.3% | +542.6% | 5.5 yr |
| SYRESpyre Therapeutics, Inc. | $203M | 14.6% | +212.5% | 2.8 yr |
| ORKAOruka Therapeutics, Inc. | $182M | 13.1% | +378.1% | 1.8 yr |
| VRDNViridian Therapeutics, I | $77M | 5.5% | +45.1% | 5.3 yr |
| ELVNEnliven Therapeutics, In | $73M | 5.3% | +99.2% | 3.3 yr |
| JBIOJade Biosciences, Inc. | $64M | 4.6% | — | 1.0 yr |
| — | $50M | 3.6% | — | 1.0 yr |
| ZBIOZenas BioPharma, Inc. | $46M | 3.3% | +147.5% | 1.8 yr |
| — | $25M | 1.8% | — | 2.8 yr |
| — | $14M | 1.0% | — | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology93.5%+11.2pp$1.29B
Unknown6.5%-11.2pp$90M
Country
US93.5%+11.2pp
Unknown6.5%-11.2pp
Top 5: 74.8% · Top 10: 97.1% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| COGT | $37M | +0.20B | 542.6% |
| DNTH | $49M | +0.18B | 362.6% |
| SYRE | $65M | +0.14B | 212.5% |
| ORKA | $35M | +0.13B | 378.1% |
| ELVN | $63M | +0.06B | 99.2% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.38B | 12 | +163.49% | +17.59% | +145.90% | -0.25B |
| 2025-12-31 | $1.31B | 13 | +84.39% | +17.72% | +66.67% | -0.32B |
| 2025-09-30 | $1.11B | 17 | +6.19% | +17.52% | -11.33% | +0.03B |
| 2025-06-30 | $772M | 17 | -9.05% | +14.94% | -23.99% | +0.11B |
| 2025-03-31 | $645M | 15 | -10.33% | +8.30% | -18.63% | -0.23B |
| 2024-12-31 | $1.01B | 17 | +16.03% | +24.89% | -8.86% | -0.04B |
| 2024-09-30 | $1.23B | 15 | +50.47% | +36.04% | +14.43% | +0.17B |
| 2024-06-30 | $885M | 13 | +13.52% | +24.49% | -10.97% | -0.04B |
| 2024-03-31 | $917M | 15 | +29.20% | +29.62% | -0.42% | -0.15B |
| 2023-12-31 | $946M | 16 | +7.60% | +26.18% | -18.58% | +0.04B |
| 2023-09-30 | $831M | 20 | +6.31% | +21.57% | -15.26% | +0.19B |
| 2023-06-30 | $709M | 17 | +22.10% | +19.42% | +2.68% | +0.04B |
| 2023-03-31 | $581M | 16 | -1.06% | -7.82% | +6.76% | -0.01B |
| 2022-12-31 | $630M | 16 | +8.21% | +7.56% | +0.65% | +0.07B |
| 2022-09-30 | $513M | 25 | +4.27% | -4.93% | +9.20% | +0.09B |
| 2022-06-30 | $411M | 26 | -6.64% | -16.11% | +9.47% | +0.06B |