Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+0.74%
adds when stocks drop
when a holding falls −10%+
Middle response
+7.52%
steady accumulation
Rally response
-11.58%
trims into rallies
when a holding rises +10%+
Top positions · 17
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| LQDALiquidia Corporation | $132M | 38.9% | +155.9% | 2.5 yr |
| ESTAEstablishment Labs Holdi | $57M | 16.7% | +39.1% | 2.5 yr |
| — | $30M | 8.7% | — | 0.8 yr |
| — | $17M | 4.9% | — | 1.0 yr |
| SGHCSuper Group (SGHC) Limit | $16M | 4.8% | +75.0% | 0.8 yr |
| GEOThe GEO Group, Inc. | $15M | 4.3% | -42.5% | 1.5 yr |
| OPRTOportun Financial Corpor | $13M | 3.7% | -16.0% | 2.5 yr |
| ABVXAbivax S.A. | $12M | 3.4% | +1681.6% | 0.8 yr |
| CVECenovus Energy Inc. | $10M | 2.9% | +97.2% | 0.3 yr |
| ACHCAcadia Healthcare Compan | $9M | 2.6% | -22.9% | 0.3 yr |
| TPBTurning Point Brands, In | $8M | 2.4% | +46.5% | 0.8 yr |
| CELHCelsius Holdings, Inc. | $7M | 2.1% | -0.4% | 0.8 yr |
| MLYSMineralys Therapeutics, | $5M | 1.6% | +70.6% | 1.0 yr |
| VETVermilion Energy Inc. | $5M | 1.5% | +77.8% | 1.0 yr |
| APLDApplied Digital Corporat | $4M | 1.2% | +322.4% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology44.0%+20.4pp$149M
Medical - Devices16.7%-11.0pp$57M
Unknown13.6%$46M
Gambling, Resorts & Casinos4.8%$16M
Security & Protection Services4.3%-6.2pp$15M
Financial - Credit Services3.7%-6.2pp$13M
Oil & Gas Integrated2.9%$10M
Medical - Care Facilities2.6%$9M
Tobacco2.4%$8M
Beverages - Non-Alcoholic2.1%$7M
Country
US57.1%-4.4pp
CR16.7%-11.0pp
Unknown13.6%
GG4.8%
CA4.4%
FR3.4%
Top 5: 74.0% · Top 10: 91.0% · Top 25: 100.0%
Top buys this quarter · 10
| — | +$0M |
| — | +$17M |
| LQDA Liquidia Corporation | +$25M |
| CVE Cenovus Energy Inc.new | +$10M |
| ACHC Acadia Healthcare Company, Incnew | +$9M |
| ABVX Abivax S.A. | +$6M |
| SGHC Super Group (SGHC) Limited | +$6M |
| MLYS Mineralys Therapeutics, Inc. | +$4M |
| GEO The GEO Group, Inc. | +$4M |
| OPRT Oportun Financial Corporation | +$13M |
Top sells this quarter · 10
| APLD Applied Digital Corporation | −$29M |
| LRN Stride, Inc.exit | −$8M |
| ESTA Establishment Labs Holdings In | −$8M |
| BTU Peabody Energy Corporation | −$7M |
| VOR Vor Biopharma Inc.exit | −$4M |
| VET Vermilion Energy Inc. | −$4M |
| TPB Turning Point Brands, Inc. | −$3M |
| ADMA ADMA Biologics, Inc.exit | −$3M |
| EHTH eHealth, Inc. | −$2M |
| CELH Celsius Holdings, Inc. | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $340M | 17 | +56.60% | +17.59% | +39.01% | +0.03B |
| 2025-12-31 | $301M | 15 | +53.05% | +17.72% | +35.33% | +0.01B |
| 2025-09-30 | $219M | 14 | +29.35% | +17.52% | +11.83% | -0.02B |
| 2025-06-30 | $204M | 11 | +0.74% | +14.94% | -14.20% | +0.00B |
| 2025-03-31 | $208M | 13 | -7.62% | +8.30% | -15.92% | -0.00B |
| 2024-12-31 | $209M | 15 | +1.52% | +24.89% | -23.37% | +0.01B |
| 2024-09-30 | $180M | 15 | -8.30% | +5.75% | -14.05% | +0.01B |
| 2024-06-30 | $185M | 13 | -10.24% | +4.38% | -14.62% | +0.03B |
| 2024-03-31 | $169M | 13 | +9.98% | +10.39% | -0.41% | +0.01B |
| 2023-12-31 | $144M | 14 | — | — | — | — |