Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+4.70%
adds when stocks drop
when a holding falls −10%+
Middle response
+1.83%
steady accumulation
Rally response
-1.63%
trims into rallies
when a holding rises +10%+
Top positions · 13
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| MIRMMirum Pharmaceuticals, I | $39M | 11.9% | +105.1% | 2.8 yr |
| IONSIonis Pharmaceuticals, I | $38M | 11.5% | +148.9% | 0.8 yr |
| CICigna Corporation | $37M | 11.2% | -17.2% | 3.5 yr |
| MDTMedtronic plc | $34M | 10.6% | -1.3% | 1.3 yr |
| TFXTeleflex Incorporated | $33M | 10.2% | -12.4% | 0.3 yr |
| BMRNBioMarin Pharmaceutical | $31M | 9.5% | -20.1% | 1.3 yr |
| GRDNGuardian Pharmacy Servic | $24M | 7.3% | +77.1% | 0.3 yr |
| AZNAstraZeneca PLC | $22M | 6.7% | +36.2% | 0.3 yr |
| UNHUnitedHealth Group Incor | $21M | 6.6% | -46.9% | 1.0 yr |
| BBIOBridgeBio Pharma, Inc. | $17M | 5.2% | +114.8% | 1.3 yr |
| AVNSAvanos Medical, Inc. | $17M | 5.1% | -2.2% | 0.3 yr |
| KODKodiak Sciences Inc. | $11M | 3.3% | +1256.6% | 0.8 yr |
| — | $3M | 1.0% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology41.4%+24.3pp$135M
Medical - Healthcare Plans17.8%+2.3pp$58M
Medical - Devices15.7%-17.2pp$51M
Medical - Instruments & Supplies10.2%$33M
Medical - Distribution7.3%$24M
Drug Manufacturers - General6.7%$22M
Unknown1.0%-1.2pp$3M
Country
US81.8%+2.8pp
IE10.6%-8.2pp
GB6.7%
Unknown1.0%-1.2pp
Top 5: 55.5% · Top 10: 90.6% · Top 25: 100.0%
Top buys this quarter · 10
| — new | +$0M |
| TFX Teleflex Incorporatednew | +$33M |
| GRDN Guardian Pharmacy Services, Innew | +$24M |
| AZN AstraZeneca PLCnew | +$22M |
| AVNS Avanos Medical, Inc.new | +$17M |
| CI Cigna Corporation | +$11M |
| BMRN BioMarin Pharmaceutical Inc. | +$8M |
| IONS Ionis Pharmaceuticals, Inc. | +$6M |
| UNH UnitedHealth Group Incorporate | +$5M |
| BBIO BridgeBio Pharma, Inc. | +$3M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $326M | 13 | +29.78% | +17.59% | +12.19% | +0.00B |
| 2025-12-31 | $319M | 15 | +32.21% | +17.72% | +14.49% | -0.03B |
| 2025-09-30 | $305M | 16 | +12.10% | +17.52% | -5.42% | +0.03B |
| 2025-06-30 | $233M | 11 | +6.70% | +14.94% | -8.24% | -0.05B |
| 2025-03-31 | $294M | 12 | -0.45% | +8.30% | -8.75% | -0.01B |
| 2024-12-31 | $296M | 13 | +5.21% | +24.89% | -19.68% | -0.08B |
| 2024-09-30 | $386M | 17 | +16.81% | +36.04% | -19.23% | -0.04B |
| 2024-06-30 | $383M | 19 | +5.39% | +24.49% | -19.10% | -0.06B |
| 2024-03-31 | $494M | 21 | +29.91% | +29.62% | +0.28% | +0.03B |
| 2023-12-31 | $428M | 21 | +10.45% | +26.18% | -15.73% | +0.09B |
| 2023-09-30 | $317M | 13 | +0.59% | -3.22% | +3.81% | +0.04B |
| 2023-06-30 | $279M | 13 | +10.57% | +8.68% | +1.89% | +0.04B |
| 2023-03-31 | $214M | 12 | -7.45% | +7.46% | -14.90% | +0.03B |
| 2022-12-31 | $195M | 17 | — | — | — | — |