Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-9.09%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.33%
baseline attrition
Rally response
-1.97%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| GILDGilead Sciences, Inc. | $3M | 0.8% | +27.7% | 3.5 yr |
| AMGNAmgen Inc. | $3M | 0.8% | +16.5% | 3.5 yr |
| REGNRegeneron Pharmaceutical | $3M | 0.8% | +22.5% | 3.3 yr |
| IBRXImmunityBio, Inc. | $3M | 0.8% | +154.8% | 1.3 yr |
| VRTXVertex Pharmaceuticals I | $3M | 0.7% | -7.9% | 3.0 yr |
| INCYIncyte Corporation | $3M | 0.7% | +55.4% | 2.5 yr |
| VRTVertiv Holdings Co | $3M | 0.7% | +247.5% | 1.0 yr |
| ALNYAlnylam Pharmaceuticals, | $2M | 0.7% | +22.5% | 1.3 yr |
| EIXEdison International | $2M | 0.7% | +30.5% | 1.8 yr |
| ROSTRoss Stores, Inc. | $2M | 0.6% | +71.2% | 2.3 yr |
| PWRQuanta Services, Inc. | $2M | 0.6% | +116.2% | 2.8 yr |
| DAWNDay One Biopharmaceutica | $2M | 0.6% | +170.4% | 1.3 yr |
| BURLBurlington Stores, Inc. | $2M | 0.6% | +36.5% | 0.5 yr |
| SLBSLB N.V. | $2M | 0.6% | +26.7% | 2.3 yr |
| MRKMerck & Co., Inc. | $2M | 0.6% | +38.9% | 4.0 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology24.1%+15.6pp$87M
Asset Management8.4%-19.9pp$31M
Semiconductors4.4%+2.6pp$16M
Insurance - Property & Casualty3.8%+0.3pp$14M
Drug Manufacturers - General2.9%+2.1pp$10M
Financial - Credit Services2.7%+0.0pp$10M
Industrial - Machinery2.4%+0.2pp$9M
Financial - Data & Stock Exchanges2.3%+1.5pp$8M
Medical - Devices2.3%+0.8pp$8M
Aerospace & Defense1.8%+0.7pp$7M
Country
US90.3%-1.2pp
GB1.9%+1.5pp
IE1.6%+0.1pp
Unknown1.5%-0.2pp
CH0.9%-0.1pp
CN0.8%+0.2pp
BR0.6%+0.1pp
LU0.6%+0.1pp
Top 5: 3.8% · Top 10: 7.2% · Top 25: 15.8%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| VRT | $1M | +0.00B | 247.5% |
| PWR | $1M | +0.00B | 116.2% |
| HWM | $1M | +0.00B | 78.1% |
| INCY | $1M | +0.00B | 55.4% |
| BKR | $1M | +0.00B | 41.7% |
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|---|---|---|
| VRTX | $0M | -0.00B | -7.9% |
Top buys this quarter · 15
| ECCU Eagle Point Credit Company Inc | +$4M |
| EIX Edison International | +$2M |
| MRK Merck & Co., Inc. | +$2M |
| AMGN Amgen Inc. | +$2M |
| LIN Linde plcnew | +$2M |
| REGN Regeneron Pharmaceuticals, Inc | +$2M |
| GILD Gilead Sciences, Inc. | +$2M |
| VRTX Vertex Pharmaceuticals Incorpo | +$2M |
| ALNY Alnylam Pharmaceuticals, Inc. | +$2M |
| SLB SLB N.V. | +$2M |
Top sells this quarter · 15
| MLM Martin Marietta Materials, Inc | −$10M |
| CTVA Corteva, Inc.exit | −$3M |
| TXN Texas Instruments Incorporated | −$2M |
| TKO TKO Group Holdings, Inc.exit | −$2M |
| STT State Street Corporationexit | −$2M |
| HBAN Huntington Bancshares Incorporexit | −$2M |
| AON Aon plcexit | −$2M |
| FTNT Fortinet, Inc.exit | −$2M |
| ETN Eaton Corporation plcexit | −$2M |
| AAPL Apple Inc.exit | −$2M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $362M | 449 | +18.21% | +17.59% | +0.62% | -0.00B |
| 2025-12-31 | $367M | 460 | +15.74% | +17.72% | -1.98% | +0.01B |
| 2025-09-30 | $349M | 439 | +14.51% | +17.52% | -3.00% | +0.03B |
| 2025-06-30 | $295M | 438 | +18.97% | +14.94% | +4.03% | -0.09B |
| 2025-03-31 | $362M | 469 | +10.87% | +8.30% | +2.56% | +0.24B |
| 2024-12-31 | $124M | 293 | +23.77% | +24.89% | -1.12% | -0.00B |
| 2024-09-30 | $124M | 269 | +33.82% | +36.04% | -2.22% | -0.01B |
| 2024-06-30 | $115M | 262 | +15.36% | +24.49% | -9.13% | -0.02B |
| 2024-03-31 | $137M | 264 | +18.37% | +29.62% | -11.25% | -0.00B |
| 2023-12-31 | $130M | 267 | +15.10% | +26.18% | -11.08% | -0.03B |
| 2023-09-30 | $147M | 242 | +15.97% | +21.57% | -5.60% | +0.00B |
| 2023-06-30 | $147M | 259 | +2.70% | +8.68% | -5.98% | +0.00B |
| 2023-03-31 | $143M | 272 | +4.92% | +7.46% | -2.54% | -0.01B |
| 2022-12-31 | $150M | 319 | +11.40% | +7.56% | +3.84% | -0.09B |
| 2022-09-30 | $217M | 374 | — | — | — | +0.18B |
| 2020-09-30 | $37M | 5 | — | — | — | -0.15B |