Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.34%
adds when stocks drop
when a holding falls −10%+
Middle response
+2.24%
steady accumulation
Rally response
-0.81%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| RLAYRelay Therapeutics, Inc. | $169M | 9.8% | +279.8% | 1.0 yr |
| ALKSAlkermes plc | $149M | 8.6% | +7.1% | 2.0 yr |
| ELVNEnliven Therapeutics, In | $128M | 7.4% | +99.2% | 3.3 yr |
| COGTCogent Biosciences, Inc. | $111M | 6.4% | +542.6% | 5.5 yr |
| SYRESpyre Therapeutics, Inc. | $96M | 5.6% | +212.5% | 2.8 yr |
| TYRATyra Biosciences, Inc. | $95M | 5.5% | +311.8% | 1.3 yr |
| CLDXCelldex Therapeutics, In | $86M | 4.9% | +74.8% | 5.0 yr |
| NUVLNuvalent, Inc. | $85M | 4.9% | +44.5% | 3.5 yr |
| AMLXAmylyx Pharmaceuticals, | $79M | 4.5% | +292.7% | 0.8 yr |
| KYMRKymera Therapeutics, Inc | $62M | 3.6% | +204.3% | 1.0 yr |
| ANROAlto Neuroscience, Inc. | $61M | 3.5% | +940.7% | 0.5 yr |
| PHVSPharvaris N.V. | $54M | 3.1% | +79.9% | 2.5 yr |
| ERASErasca, Inc. | $51M | 3.0% | +1081.0% | 0.3 yr |
| DMRAGalecto, Inc. | $50M | 2.9% | — | 0.3 yr |
| XENEXenon Pharmaceuticals In | $48M | 2.8% | +73.3% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology91.5%+5.3pp$1.58B
Unknown6.6%-7.1pp$115M
Medical - Devices1.5%$26M
Shell Companies0.3%$5M
Country
US78.6%+21.4pp
IE8.6%+3.8pp
Unknown6.6%-7.1pp
NL3.1%-12.9pp
CA2.8%-3.0pp
KY0.3%
Top 5: 37.8% · Top 10: 61.3% · Top 25: 93.9%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| COGT | $53M | +0.29B | 542.6% |
| ELVN | $92M | +0.09B | 99.2% |
| SYRE | $32M | +0.07B | 212.5% |
| NUVL | $132M | +0.06B | 44.5% |
| XENE | $78M | +0.06B | 73.3% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| ERAS Erasca, Inc.new | +$51M |
| DMRA Galecto, Inc.new | +$50M |
| DFTX Definium Therapeutics, Inc.new | +$38M |
| EYPT EyePoint Pharmaceuticals, Inc.new | +$36M |
| CRVS Corvus Pharmaceuticals, Inc.new | +$33M |
| NUVL Nuvalent, Inc. | +$29M |
| COGT Cogent Biosciences, Inc. | +$27M |
| ALKS Alkermes plc | +$23M |
| OCUL Ocular Therapeutix, Inc.new | +$22M |
| ANRO Alto Neuroscience, Inc. | +$20M |
Top sells this quarter · 15
| ORKA Oruka Therapeutics, Inc.exit | −$86M |
| XENE Xenon Pharmaceuticals Inc. | −$57M |
| ELVN Enliven Therapeutics, Inc. | −$72M |
| PTGX Protagonist Therapeutics, Inc.exit | −$47M |
| CNTA Centessa Pharmaceuticals plcexit | −$40M |
| CTMX CytomX Therapeutics, Inc.exit | −$36M |
| TYRA Tyra Biosciences, Inc. | −$89M |
| SYRE Spyre Therapeutics, Inc. | −$78M |
| REPL Replimune Group, Inc.exit | −$11M |
| CTNM Contineum Therapeutics, Inc. Cexit | −$11M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $1.73B | 36 | +116.15% | +17.59% | +98.56% | -0.12B |
| 2025-12-31 | $1.50B | 33 | +30.75% | +17.72% | +13.03% | -1.17B |
| 2025-09-30 | $2.05B | 37 | -13.38% | +17.52% | -30.90% | +0.26B |
| 2025-06-30 | $1.42B | 33 | -19.00% | +14.94% | -33.95% | -0.03B |
| 2025-03-31 | $1.36B | 31 | -34.42% | +8.30% | -42.72% | +0.34B |
| 2024-12-31 | $1.36B | 31 | +11.06% | +24.89% | -13.82% | -0.02B |
| 2024-09-30 | $1.60B | 36 | +67.36% | +36.04% | +31.32% | -0.13B |
| 2024-06-30 | $1.47B | 35 | +31.46% | +24.49% | +6.97% | +0.18B |
| 2024-03-31 | $1.50B | 39 | +76.76% | +29.62% | +47.14% | +0.05B |
| 2023-12-31 | $1.14B | 32 | +12.98% | +26.18% | -13.20% | +0.03B |
| 2023-09-30 | $856M | 30 | -5.12% | +21.57% | -26.69% | +0.03B |
| 2023-06-30 | $890M | 26 | -10.91% | +19.42% | -30.33% | +0.13B |
| 2023-03-31 | $657M | 32 | -40.38% | -7.82% | -32.56% | +0.12B |
| 2022-12-31 | $664M | 35 | +9.51% | +7.56% | +1.95% | -0.02B |
| 2022-09-30 | $622M | 30 | -12.79% | -4.93% | -7.87% | +0.21B |
| 2022-06-30 | $473M | 24 | -22.56% | -16.11% | -6.45% | +0.13B |