Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.44%
adds when stocks drop
when a holding falls −10%+
Middle response
-3.38%
baseline attrition
Rally response
-24.88%
trims into rallies
when a holding rises +10%+
Top positions · 21
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| — | $11M | 10.5% | — | 2.3 yr |
| NERVMinerva Neurosciences, I | $10M | 9.9% | +254.7% | 0.5 yr |
| — | $7M | 6.7% | — | 2.3 yr |
| OVIDOvid Therapeutics Inc. | $6M | 6.2% | +611.8% | 0.5 yr |
| CMPSCOMPASS Pathways plc | $6M | 5.7% | +93.4% | 0.8 yr |
| TARSTarsus Pharmaceuticals, | $6M | 5.6% | +36.6% | 1.5 yr |
| — | $6M | 5.5% | — | 1.0 yr |
| — | $5M | 5.2% | — | 0.5 yr |
| EWTXEdgewise Therapeutics, I | $5M | 5.0% | +43.2% | 1.3 yr |
| — | $5M | 4.7% | — | 0.8 yr |
| CTMXCytomX Therapeutics, Inc | $4M | 4.2% | +639.2% | 0.3 yr |
| IVAInventiva S.A. | $4M | 4.1% | +88.8% | 0.5 yr |
| CATXPerspective Therapeutics | $4M | 3.8% | +95.8% | 0.8 yr |
| ABVXAbivax S.A. | $4M | 3.7% | +1681.6% | 0.5 yr |
| ALMSAlumis Inc. Common Stock | $4M | 3.7% | +258.8% | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology55.6%-22.8pp$56M
Unknown34.8%+13.2pp$35M
Medical - Care Facilities5.7%$6M
Medical - Devices3.8%$4M
Country
US51.6%-8.7pp
Unknown34.8%+13.2pp
FR7.8%
GB5.7%-6.1pp
Top 5: 39.0% · Top 10: 65.2% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| CTMX CytomX Therapeutics, Inc.new | +$4M |
| URGN UroGen Pharma Ltd.new | +$4M |
| CAPR Capricor Therapeutics, Inc.new | +$3M |
| CATX Perspective Therapeutics, Inc. | +$4M |
| OVID Ovid Therapeutics Inc. | +$2M |
| ANTX AN2 Therapeutics, Inc.new | +$2M |
| TARS Tarsus Pharmaceuticals, Inc. | +$1M |
| RLMD Relmada Therapeutics, Inc. | +$1M |
| CMPS COMPASS Pathways plc | +$6M |
| — | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $101M | 21 | +44.31% | +17.59% | +26.72% | +0.03B |
| 2025-12-31 | $63M | 13 | +0.24% | +17.72% | -17.48% | -0.07B |
| 2025-09-30 | $119M | 18 | -20.84% | +17.52% | -38.36% | -0.03B |
| 2025-06-30 | $115M | 23 | -38.42% | +14.94% | -53.36% | +0.02B |
| 2025-03-31 | $104M | 27 | -39.71% | +8.30% | -48.01% | +0.02B |
| 2024-12-31 | $109M | 29 | -8.29% | +24.89% | -33.18% | -0.04B |
| 2024-09-30 | $176M | 28 | +9.37% | +36.04% | -26.67% | +0.02B |
| 2024-06-30 | $159M | 24 | +2.79% | +24.49% | -21.70% | +0.01B |
| 2024-03-31 | $173M | 21 | +3.89% | +29.62% | -25.73% | +0.00B |
| 2023-12-31 | $139M | 21 | -11.62% | +26.18% | -37.79% | +0.05B |
| 2023-09-30 | $85M | 19 | -19.05% | +21.57% | -40.62% | +0.01B |
| 2023-06-30 | $83M | 17 | -16.47% | +19.42% | -35.90% | +0.01B |
| 2023-03-31 | $76M | 18 | -22.71% | -7.82% | -14.89% | -0.03B |
| 2022-12-31 | $103M | 30 | -6.09% | +7.56% | -13.65% | -0.04B |
| 2022-09-30 | $151M | 39 | -3.20% | -4.93% | +1.73% | +0.05B |
| 2022-06-30 | $110M | 22 | -17.73% | -16.11% | -1.62% | -0.00B |