Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+10.09%
adds when stocks drop
when a holding falls −10%+
Middle response
+0.00%
baseline attrition
Rally response
+0.00%
adds into rallies
when a holding rises +10%+
Top positions · 3
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SEPNSepterna, Inc. | $101M | 74.6% | +315.0% | 1.5 yr |
| RAPPRapport Therapeutics, In | $30M | 22.4% | +212.0% | 1.5 yr |
| TNGXTango Therapeutics, Inc. | $4M | 3.0% | +1427.0% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology100.0%+0.0pp$136M
Country
US100.0%+0.0pp
Top 5: 100.0% · Top 10: 100.0% · Top 25: 100.0%
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 0
No buys this quarter
Top sells this quarter · 0
No sells this quarter
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $136M | 3 | +294.48% | +17.59% | +276.89% | -0.00B |
| 2025-12-31 | $149M | 3 | +35.63% | +17.72% | +17.91% | -0.00B |
| 2025-09-30 | $110M | 3 | +93.94% | +8.12% | +85.82% | -0.01B |
| 2025-06-30 | $64M | 4 | +64.47% | +10.78% | +53.69% | -0.00B |
| 2025-03-31 | $42M | 4 | -68.62% | -4.27% | -64.35% | +0.01B |
| 2024-12-31 | $117M | 4 | — | — | — | — |