Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-0.97%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.69%
baseline attrition
Rally response
-3.33%
trims into rallies
when a holding rises +10%+
Top positions · 9
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| WVEWave Life Sciences Ltd. | $33M | 61.8% | -10.3% | 4.5 yr |
| ADGIAdagio Therapeutics, Inc | $12M | 22.3% | — | 4.5 yr |
| TGTXTG Therapeutics, Inc. | $3M | 5.5% | -15.7% | 4.5 yr |
| ARWRArrowhead Pharmaceutical | $2M | 4.3% | +392.2% | 3.5 yr |
| PRQRProQR Therapeutics N.V. | $1M | 1.8% | +21.8% | 4.3 yr |
| GUTSFractyl Health, Inc. Com | $1M | 1.6% | -61.5% | 2.3 yr |
| RCKTRocket Pharmaceuticals, | $1M | 1.4% | -46.3% | 4.5 yr |
| SLNSilence Therapeutics plc | $1M | 1.0% | +86.9% | 3.5 yr |
| — | $0M | 0.3% | — | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology99.7%+1.2pp$54M
Unknown0.3%-1.2pp$0M
Country
SG61.8%-0.9pp
US35.1%+1.9pp
NL1.8%-0.1pp
GB1.0%+0.3pp
Unknown0.3%-1.2pp
Top 5: 95.7% · Top 10: 100.0% · Top 25: 100.0%
Top buys this quarter · 0
No buys this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $54M | 9 | -4.98% | +17.59% | -22.57% | -0.01B |
| 2025-12-31 | $138M | 9 | +35.40% | +17.72% | +17.68% | +0.00B |
| 2025-09-30 | $68M | 9 | -12.32% | +17.52% | -29.83% | +0.00B |
| 2025-06-30 | $59M | 9 | -1.09% | +14.94% | -16.03% | -0.00B |
| 2025-03-31 | $73M | 11 | -10.57% | +8.30% | -18.87% | +0.00B |
| 2024-12-31 | $102M | 11 | +41.58% | +24.89% | +16.69% | -0.02B |
| 2024-09-30 | $91M | 11 | +22.51% | +36.04% | -13.53% | -0.01B |
| 2024-06-30 | $77M | 11 | -13.35% | +24.49% | -37.84% | -0.03B |
| 2024-03-31 | $135M | 11 | +21.53% | +29.62% | -8.09% | +0.00B |
| 2023-12-31 | $121M | 10 | -2.69% | +26.18% | -28.87% | +0.02B |
| 2023-09-30 | $87M | 11 | -21.09% | +21.57% | -42.66% | +0.02B |
| 2023-06-30 | $76M | 12 | -27.50% | +19.42% | -46.92% | -0.02B |
| 2023-03-31 | $88M | 14 | -60.29% | -7.82% | -52.47% | -0.00B |
| 2022-12-31 | $105M | 14 | -8.90% | +7.56% | -16.46% | +0.02B |
| 2022-09-30 | $96M | 12 | -17.80% | -4.93% | -12.87% | +0.02B |
| 2022-06-30 | $89M | 13 | -39.60% | -16.11% | -23.49% | +0.02B |