Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+7.66%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.93%
baseline attrition
Rally response
-2.26%
trims into rallies
when a holding rises +10%+
Top positions · 13
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| PCVXVaxcyte, Inc. | $80M | 28.5% | +53.9% | 5.5 yr |
| — | $45M | 16.0% | — | 3.3 yr |
| EVMNEvommune, Inc. | $44M | 15.8% | — | 0.5 yr |
| ARQTArcutis Biotherapeutics, | $32M | 11.4% | +50.6% | 5.5 yr |
| TRVITrevi Therapeutics, Inc. | $19M | 6.6% | +89.7% | 1.0 yr |
| IMNMImmunome, Inc. | $16M | 5.7% | +225.0% | 0.8 yr |
| MPLTMapLight Therapeutics, I | $12M | 4.4% | — | 0.5 yr |
| ZBIOZenas BioPharma, Inc. | $12M | 4.1% | +147.5% | 1.8 yr |
| BIOABioAge Labs, Inc. | $11M | 4.1% | +365.2% | 1.8 yr |
| — | $4M | 1.6% | — | 0.3 yr |
| RLYBRallybio Corporation | $3M | 1.0% | — | 0.3 yr |
| RXRXRecursion Pharmaceutical | $2M | 0.7% | -42.0% | 1.5 yr |
| BOLTBolt Biotherapeutics, In | $0M | 0.1% | — | 1.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology82.5%+19.8pp$231M
Unknown17.5%-19.8pp$49M
Country
US82.5%+20.5pp
Unknown17.5%-19.8pp
Top 5: 78.4% · Top 10: 98.3% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ARQT | $33M | +0.02B | 50.6% |
| PCVX | $27M | +0.01B | 53.9% |
| BIOA | $2M | +0.01B | 365.2% |
| ZBIO | $6M | +0.01B | 147.5% |
| RXRX | $3M | -0.00B | -42.0% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| RXRX | $3M | -0.00B | -42.0% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $280M | 13 | +88.33% | +17.59% | +70.74% | +0.00B |
| 2025-12-31 | $259M | 12 | +24.40% | +17.72% | +6.68% | +0.01B |
| 2025-09-30 | $173M | 10 | -32.49% | +17.52% | -50.01% | -0.04B |
| 2025-06-30 | $161M | 12 | -29.00% | +14.94% | -43.94% | +0.05B |
| 2025-03-31 | $124M | 11 | -28.64% | +8.30% | -36.94% | +0.02B |
| 2024-12-31 | $148M | 11 | +35.36% | +24.89% | +10.48% | +0.01B |
| 2024-09-30 | $168M | 11 | +86.97% | +36.04% | +50.93% | -0.01B |
| 2024-06-30 | $130M | 10 | +18.75% | +24.49% | -5.74% | -0.01B |
| 2024-03-31 | $156M | 11 | +54.35% | +29.62% | +24.72% | -0.37B |
| 2023-12-31 | $394M | 13 | -5.70% | +26.18% | -31.88% | +0.12B |
| 2023-09-30 | $251M | 13 | +9.54% | +21.57% | -12.03% | -0.02B |
| 2023-06-30 | $303M | 11 | +20.73% | +19.42% | +1.30% | +0.01B |
| 2023-03-31 | $243M | 11 | -3.21% | -7.82% | +4.61% | +0.06B |
| 2022-12-31 | $230M | 10 | +26.83% | +7.56% | +19.27% | -0.12B |
| 2022-09-30 | $274M | 11 | -2.72% | -4.93% | +2.21% | +0.08B |
| 2022-06-30 | $199M | 11 | -3.94% | -16.11% | +12.17% | -0.00B |