Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+5.72%
adds when stocks drop
when a holding falls −10%+
Middle response
-8.58%
baseline attrition
Rally response
+12.45%
adds into rallies
when a holding rises +10%+
Top positions · 23
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| STOKStoke Therapeutics, Inc. | $155M | 24.5% | +389.6% | 2.8 yr |
| GHRSGH Research PLC | $151M | 23.9% | +27.5% | 3.0 yr |
| CGEMCullinan Therapeutics, I | $127M | 20.1% | +87.7% | 2.3 yr |
| AGIOAgios Pharmaceuticals, I | $88M | 14.0% | +15.5% | 0.5 yr |
| DNLIDenali Therapeutics Inc. | $36M | 5.7% | +41.2% | 0.8 yr |
| CCCCC4 Therapeutics, Inc. | $18M | 2.9% | +64.4% | 2.8 yr |
| KRROKorro Bio, Inc. | $17M | 2.8% | -35.0% | 0.8 yr |
| TCRXTScan Therapeutics, Inc. | $8M | 1.3% | -26.8% | 3.0 yr |
| XNCRXencor, Inc. | $6M | 1.0% | +13.3% | 0.5 yr |
| — | $5M | 0.9% | — | 1.5 yr |
| PASGPassage Bio, Inc. | $5M | 0.8% | — | 0.8 yr |
| NEUPNeuphoria Therapeutics I | $4M | 0.6% | -29.3% | 1.3 yr |
| TRDAEntrada Therapeutics, In | $3M | 0.4% | +39.6% | 0.5 yr |
| CGONCG Oncology, Inc. Common | $2M | 0.3% | +176.4% | 0.5 yr |
| IMTXImmatics N.V. | $2M | 0.3% | +118.2% | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology78.3%-9.2pp$495M
Medical - Pharmaceuticals20.7%+11.9pp$131M
Unknown1.0%-2.7pp$7M
Country
US74.7%+27.5pp
IE23.9%-1.5pp
Unknown1.0%-2.7pp
DE0.3%
NL0.0%-23.6pp
Top 5: 88.2% · Top 10: 97.1% · Top 25: 100.0%
Top buys this quarter · 12
| AGIO Agios Pharmaceuticals, Inc. | +$86M |
| KRRO Korro Bio, Inc. | +$10M |
| GHRS GH Research PLC | +$5M |
| DNLI Denali Therapeutics Inc. | +$3M |
| TRDA Entrada Therapeutics, Inc. | +$2M |
| DSGN Design Therapeutics, Inc. | +$1M |
| BOLT Bolt Biotherapeutics, Inc.new | +$0M |
| ABSI Absci Corporationnew | +$0M |
| TRAW Traws Pharma, Inc.new | +$0M |
| HOWL Werewolf Therapeutics, Inc. | +$0M |
Top sells this quarter · 10
| STOK Stoke Therapeutics, Inc. | −$21M |
| IMTX Immatics N.V. | −$7M |
| XNCR Xencor, Inc. | −$2M |
| ARWR Arrowhead Pharmaceuticals, Incexit | −$1M |
| MPLT MapLight Therapeutics, Inc.exit | −$0M |
| CCCC C4 Therapeutics, Inc. | −$14M |
| — | −$0M |
| — | −$4M |
| APLT Applied Therapeutics, Inc.exit | −$0M |
| GBIO Generation Bio Co.exit | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $633M | 23 | +105.47% | +17.59% | +87.87% | +0.08B |
| 2025-12-31 | $494M | 22 | +46.29% | +17.72% | +28.57% | -0.07B |
| 2025-09-30 | $491M | 14 | -2.67% | +17.52% | -20.19% | +0.02B |
| 2025-06-30 | $346M | 15 | -36.65% | +14.94% | -51.60% | +0.02B |
| 2025-03-31 | $279M | 14 | -56.86% | +8.30% | -65.17% | +0.07B |
| 2024-12-31 | $267M | 18 | -30.17% | +24.89% | -55.06% | +0.05B |
| 2024-09-30 | $282M | 18 | +44.60% | +36.04% | +8.56% | +0.04B |
| 2024-06-30 | $277M | 17 | +58.56% | +24.49% | +34.07% | -0.03B |
| 2024-03-31 | $388M | 16 | +194.87% | +29.62% | +165.25% | +0.06B |
| 2023-12-31 | $254M | 15 | +101.93% | +26.18% | +75.75% | +0.01B |
| 2023-09-30 | $151M | 18 | -3.14% | -3.22% | +0.08% | +0.00B |
| 2023-06-30 | $153M | 18 | +47.80% | +8.68% | +39.12% | -0.02B |
| 2023-03-31 | $120M | 13 | -11.12% | +7.46% | -18.58% | +0.02B |
| 2022-12-31 | $116M | 13 | — | — | — | +0.00B |
| 2022-09-30 | $111M | 12 | — | — | — | -0.01B |
| 2022-06-30 | $117M | 12 | -2.99% | -16.11% | +13.12% | +0.01B |