Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.32%
adds when stocks drop
when a holding falls −10%+
Middle response
-16.55%
baseline attrition
Rally response
-5.45%
trims into rallies
when a holding rises +10%+
Top positions · 3
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SRZNSurrozen, Inc. | $56M | 55.4% | +149.8% | 4.8 yr |
| ORICORIC Pharmaceuticals, In | $45M | 44.5% | +127.1% | 5.5 yr |
| RVMDRevolution Medicines, In | $0M | 0.0% | +175.0% | 5.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology100.0%+3.7pp$101M
Country
US100.0%+3.7pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 1
| SRZN Surrozen, Inc. | +$2M |
Top sells this quarter · 2
| TNYA Tenaya Therapeutics, Inc.exit | −$7M |
| — exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $101M | 3 | +122.01% | +17.59% | +104.42% | -0.01B |
| 2025-12-31 | $83M | 5 | +5.18% | +17.72% | -12.54% | +0.01B |
| 2025-09-30 | $81M | 5 | -2.51% | +17.52% | -20.02% | -0.01B |
| 2025-06-30 | $66M | 5 | -29.09% | +14.94% | -44.03% | +0.01B |
| 2025-03-31 | $44M | 5 | -68.93% | +8.30% | -77.23% | +0.01B |
| 2024-12-31 | $56M | 5 | -24.68% | +24.89% | -49.57% | -0.00B |
| 2024-09-30 | $70M | 6 | +13.17% | +36.04% | -22.87% | -0.00B |
| 2024-06-30 | $71M | 6 | -9.78% | +24.49% | -34.27% | -0.02B |
| 2024-03-31 | $161M | 7 | +95.13% | +29.62% | +65.51% | -0.08B |
| 2023-12-31 | $151M | 6 | +25.01% | +26.18% | -1.16% | -0.04B |
| 2023-09-30 | $151M | 7 | -44.17% | +21.57% | -65.74% | -0.06B |
| 2023-06-30 | $258M | 7 | -51.08% | +19.42% | -70.51% | -0.08B |
| 2023-03-31 | $277M | 7 | -61.94% | -7.82% | -54.12% | -0.02B |
| 2022-12-31 | $300M | 7 | -43.86% | +7.56% | -51.43% | +0.05B |
| 2022-09-30 | $452M | 7 | -28.94% | -4.93% | -24.01% | +0.12B |
| 2022-06-30 | $470M | 7 | -4.65% | -16.11% | +11.46% | -0.04B |