Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+10.59%
adds when stocks drop
when a holding falls −10%+
Middle response
+4.61%
steady accumulation
Rally response
-15.71%
trims into rallies
when a holding rises +10%+
Top positions · 18
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ABUSArbutus Biopharma Corpor | $67M | 21.2% | +28.9% | 3.5 yr |
| ROIVRoivant Sciences Ltd. | $39M | 12.4% | +174.5% | 3.0 yr |
| JOYYJOYY, Inc. Sponsored ADR | $31M | 9.7% | +49.5% | 2.0 yr |
| SOCSable Offshore Corp. | $26M | 8.1% | -34.9% | 0.5 yr |
| GNWGenworth Financial, Inc. | $25M | 8.0% | +14.5% | 3.8 yr |
| — | $23M | 7.3% | — | 0.8 yr |
| OABIOmniAb, Inc. | $22M | 7.0% | -34.6% | 1.3 yr |
| TDAYUSA TODAY Co., Inc. | $22M | 7.0% | +143.9% | 1.0 yr |
| CDZICadiz Inc. | $20M | 6.2% | +67.6% | 1.5 yr |
| SGRYSurgery Partners, Inc. | $11M | 3.4% | -49.8% | 1.0 yr |
| QUREuniQure N.V. | $11M | 3.4% | +54.2% | 0.5 yr |
| PUBMPubMatic, Inc. | $6M | 1.8% | -10.5% | 0.3 yr |
| OPKOPKO Health, Inc. | $5M | 1.5% | -31.3% | 1.8 yr |
| — | $4M | 1.3% | — | 1.8 yr |
| OBOutbrain Inc. | $2M | 0.8% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology45.6%-11.5pp$144M
Internet Content & Information10.8%-6.5pp$34M
Unknown8.7%+4.9pp$27M
Oil & Gas Drilling8.1%$26M
Insurance - Life8.0%-3.4pp$25M
Publishing7.0%$22M
Regulated Water6.2%+0.3pp$20M
Medical - Care Facilities3.4%$11M
Software - Application1.8%$6M
Insurance - Reinsurance0.5%$2M
Country
US65.3%+9.4pp
GB12.4%-10.7pp
SG9.7%-7.5pp
Unknown8.7%+4.9pp
NL3.4%
BM0.5%
Top 5: 59.3% · Top 10: 90.3% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| ROIV | $34M | +0.06B | 174.5% |
| JOYY | $32M | +0.01B | 49.5% |
| ABUS | $46M | +0.01B | 28.9% |
| CDZI | $11M | +0.01B | 67.6% |
| GNW | $21M | +0.00B | 14.5% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| OABI | $9M | -0.00B | -34.6% |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $317M | 18 | +53.72% | +17.59% | +36.13% | -0.02B |
| 2025-12-31 | $318M | 16 | +41.14% | +17.72% | +23.42% | +0.00B |
| 2025-09-30 | $288M | 15 | +38.77% | +17.52% | +21.25% | -0.02B |
| 2025-06-30 | $239M | 15 | +17.04% | +14.94% | +2.10% | +0.05B |
| 2025-03-31 | $185M | 12 | +30.11% | +8.30% | +21.80% | +0.00B |
| 2024-12-31 | $192M | 15 | +35.69% | +24.89% | +10.80% | -0.03B |
| 2024-09-30 | $203M | 15 | +33.48% | +36.04% | -2.56% | +0.04B |
| 2024-06-30 | $147M | 20 | +26.45% | +24.49% | +1.96% | -0.03B |
| 2024-03-31 | $154M | 16 | +12.61% | +29.62% | -17.01% | +0.01B |
| 2023-12-31 | $147M | 18 | +19.48% | +26.18% | -6.70% | -0.03B |
| 2023-09-30 | $162M | 16 | +81.25% | +21.57% | +59.68% | +0.06B |
| 2023-06-30 | $102M | 13 | +3.68% | +19.42% | -15.74% | -0.00B |
| 2023-03-31 | $102M | 14 | -39.65% | -7.82% | -31.83% | -0.02B |
| 2022-12-31 | $116M | 19 | +61.05% | +7.56% | +53.49% | -0.02B |
| 2022-09-30 | $87M | 26 | -40.97% | -4.93% | -36.04% | +0.04B |
| 2022-06-30 | $77M | 25 | -40.54% | -16.11% | -24.43% | +0.01B |