Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.86%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.99%
steady accumulation
Rally response
+2.76%
adds into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ROIVRoivant Sciences Ltd. | $258M | 12.0% | +174.5% | 4.5 yr |
| CORZCore Scientific, Inc. | $242M | 11.3% | +106.6% | 2.3 yr |
| — | $214M | 10.0% | — | 1.8 yr |
| TLNTalen Energy Corporation | $185M | 8.6% | +59.9% | 2.0 yr |
| INDVIndivior Pharmaceuticals | $145M | 6.7% | — | 0.3 yr |
| NKTRNektar Therapeutics | $141M | 6.6% | — | 0.5 yr |
| TDAYUSA TODAY Co., Inc. | $99M | 4.6% | +143.9% | 1.5 yr |
| SOCSable Offshore Corp. | $91M | 4.2% | -34.9% | 1.3 yr |
| SHCSotera Health Company | $86M | 4.0% | +23.0% | 2.3 yr |
| ABUSArbutus Biopharma Corpor | $84M | 3.9% | +28.9% | 4.5 yr |
| IMVTImmunovant, Inc. | $80M | 3.7% | +45.3% | 2.8 yr |
| GLNGGolar LNG Limited | $69M | 3.2% | +45.8% | 1.3 yr |
| — | $63M | 2.9% | — | 1.3 yr |
| FSLRFirst Solar, Inc. | $60M | 2.8% | +56.0% | 1.0 yr |
| WULFTeraWulf Inc. | $58M | 2.7% | +428.6% | 1.8 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology28.6%-0.6pp$615M
Unknown13.2%-17.1pp$284M
Software - Infrastructure11.3%+2.3pp$242M
Independent Power Producers10.9%-7.6pp$234M
Drug Manufacturers - Specialty & Generic6.7%$145M
Publishing4.6%+3.1pp$99M
Financial - Capital Markets4.5%+3.5pp$96M
Oil & Gas Drilling4.2%$91M
Medical - Diagnostics & Research4.0%-2.0pp$86M
Oil & Gas Midstream3.2%+0.2pp$69M
Country
US67.2%+18.5pp
Unknown13.2%-17.1pp
GB12.0%-4.5pp
BM3.2%+0.2pp
CA1.5%+1.3pp
NL1.0%
RU0.9%+0.5pp
SG0.9%
Top 5: 48.6% · Top 10: 71.9% · Top 25: 98.2%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ROIV | $102M | +0.18B | 174.5% |
| CORZ | $58M | +0.06B | 106.6% |
| TLN | $94M | +0.06B | 59.9% |
| TDAY | $10M | +0.01B | 143.9% |
| IMVT | $28M | +0.01B | 45.3% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| INDV Indivior Pharmaceuticals Incnew | +$145M |
| NKTR Nektar Therapeutics | +$87M |
| SOC Sable Offshore Corp. | +$62M |
| TLN Talen Energy Corporation | +$60M |
| ABUS Arbutus Biopharma Corporation | +$27M |
| SHC Sotera Health Company | +$23M |
| CIFR Cipher Mining Inc. | +$22M |
| QURE uniQure N.V.new | +$21M |
| TAC TransAlta Corporationnew | +$21M |
| BTDR Bitdeer Technologies Group | +$15M |
Top sells this quarter · 13
| HUT.TO Hut 8 Mining Corp. | −$16M |
| CORZ Core Scientific, Inc. | −$13M |
| ROIV Roivant Sciences Ltd. | −$212M |
| VST Vistra Corp. | −$10M |
| CRWV CoreWeave, Inc. Class A Commonexit | −$9M |
| META Meta Platforms, Inc.exit | −$8M |
| WULF TeraWulf Inc. | −$52M |
| TDAY USA TODAY Co., Inc. | −$75M |
| SATS EchoStar Corporation | −$44M |
| ESPR Esperion Therapeutics, Inc. | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $2.15B | 34 | +84.82% | +17.59% | +67.23% | +0.37B |
| 2025-12-31 | $1.71B | 29 | +44.92% | +17.72% | +27.20% | -0.04B |
| 2025-09-30 | $1.66B | 32 | +48.40% | +17.52% | +30.88% | +0.38B |
| 2025-06-30 | $1.02B | 33 | +41.32% | +14.94% | +26.38% | +0.16B |
| 2025-03-31 | $643M | 23 | +18.93% | +8.30% | +10.62% | -0.05B |
| 2024-12-31 | $841M | 26 | +42.22% | +24.89% | +17.33% | +0.21B |
| 2024-09-30 | $586M | 23 | +50.95% | +36.04% | +14.92% | -0.12B |
| 2024-06-30 | $594M | 18 | +36.60% | +24.49% | +12.11% | +0.04B |
| 2024-03-31 | $494M | 17 | +39.93% | +29.62% | +10.30% | +0.11B |
| 2023-12-31 | $396M | 11 | +55.08% | +26.18% | +28.90% | -0.16B |
| 2023-09-30 | $485M | 12 | +102.59% | +21.57% | +81.03% | -0.01B |
| 2023-06-30 | $457M | 13 | +68.79% | +19.42% | +49.36% | +0.33B |
| 2023-03-31 | $109M | 11 | +5.68% | -7.82% | +13.50% | -0.01B |
| 2022-12-31 | $105M | 10 | +49.29% | +7.56% | +41.73% | -0.02B |
| 2022-09-30 | $87M | 10 | -9.83% | -4.93% | -4.90% | +0.02B |
| 2022-06-30 | $77M | 8 | -27.64% | -16.11% | -11.53% | -0.01B |