Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+1.21%
adds when stocks drop
when a holding falls −10%+
Middle response
-6.92%
baseline attrition
Rally response
+7.41%
adds into rallies
when a holding rises +10%+
Top positions · 10
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| VEUVanguard FTSE All-World | $244M | 62.1% | — | 1.8 yr |
| VTVVanguard Value ETF | $102M | 26.0% | — | 0.5 yr |
| INDAiShares MSCI India ETF | $17M | 4.4% | — | 3.5 yr |
| ORICORIC Pharmaceuticals, In | $13M | 3.2% | +127.1% | 5.5 yr |
| FHTXFoghorn Therapeutics Inc | $8M | 1.9% | +31.0% | 5.5 yr |
| PMVPPMV Pharmaceuticals, Inc | $3M | 0.8% | +13.8% | 5.5 yr |
| ALECAlector, Inc. | $3M | 0.7% | +74.8% | 5.5 yr |
| — | $3M | 0.7% | — | 2.5 yr |
| TNYATenaya Therapeutics, Inc | $1M | 0.2% | +21.5% | 4.8 yr |
| SRZNWSurrozen, Inc. | $0M | 0.0% | — | 2.8 yr |
Portfolio composition (YoY)
Industry mix
Asset Management92.5%-0.7pp$363M
Biotechnology6.8%+0.7pp$27M
Unknown0.7%-0.0pp$3M
Country
US99.3%+0.0pp
Unknown0.7%-0.0pp
Top 5: 97.6% · Top 10: 100.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ORIC | $6M | +0.01B | 127.1% |
| FHTX | $6M | +0.00B | 31.0% |
| ALEC | $2M | +0.00B | 74.8% |
| PMVP | $3M | +0.00B | 13.8% |
| TNYA | $1M | +0.00B | 21.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 1
| VEU Vanguard FTSE All-World ex-US | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $392M | 10 | +59.05% | +17.59% | +41.46% | -0.04B |
| 2025-12-31 | $369M | 12 | +29.47% | +17.72% | +11.75% | +0.18B |
| 2025-09-30 | $238M | 11 | +61.04% | +17.52% | +43.53% | -0.14B |
| 2025-06-30 | $306M | 11 | +37.41% | +14.94% | +22.47% | -0.05B |
| 2025-03-31 | $266M | 11 | +3.15% | +8.30% | -5.15% | -0.43B |
| 2024-12-31 | $737M | 11 | +19.50% | +24.89% | -5.39% | -0.17B |
| 2024-09-30 | $907M | 12 | +29.28% | +36.04% | -6.75% | +0.06B |
| 2024-06-30 | $796M | 11 | +12.31% | +24.49% | -12.18% | +0.00B |
| 2024-03-31 | $780M | 13 | +25.82% | +29.62% | -3.80% | -0.19B |
| 2023-12-31 | $889M | 13 | -9.91% | +26.18% | -36.08% | +0.39B |
| 2023-09-30 | $458M | 13 | -43.99% | +21.57% | -65.56% | +0.10B |
| 2023-06-30 | $389M | 12 | -54.94% | +19.42% | -74.36% | +0.26B |
| 2023-03-31 | $114M | 10 | -65.59% | -7.82% | -57.78% | +0.03B |
| 2022-12-31 | $107M | 11 | -32.42% | +7.56% | -39.99% | +0.03B |
| 2022-09-30 | $108M | 10 | -25.46% | -4.93% | -20.53% | +0.02B |
| 2022-06-30 | $118M | 10 | -12.98% | -16.11% | +3.13% | -0.03B |