Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+35.31%
adds when stocks drop
when a holding falls −10%+
Middle response
-1.59%
baseline attrition
Rally response
-1.67%
trims into rallies
when a holding rises +10%+
Top positions · 24
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TERNTerns Pharmaceuticals, I | $32M | 14.8% | — | 0.5 yr |
| PTGXProtagonist Therapeutics | $24M | 11.2% | — | 0.5 yr |
| STTKShattuck Labs, Inc. | $20M | 9.4% | — | 0.5 yr |
| VORVor Biopharma Inc. | $18M | 8.3% | — | 0.5 yr |
| CMPSCOMPASS Pathways plc | $11M | 5.2% | — | 0.5 yr |
| RYTMRhythm Pharmaceuticals, | $11M | 5.1% | — | 0.5 yr |
| XENEXenon Pharmaceuticals In | $11M | 4.9% | — | 0.5 yr |
| PVLAPalvella Therapeutics, I | $10M | 4.8% | — | 0.5 yr |
| ZBIOZenas BioPharma, Inc. | $8M | 3.9% | — | 0.5 yr |
| IVAInventiva S.A. | $7M | 3.4% | — | 0.5 yr |
| 0LOV.LVerastem, Inc. | $7M | 3.2% | — | 0.5 yr |
| — | $7M | 3.2% | — | 0.5 yr |
| ORICORIC Pharmaceuticals, In | $7M | 3.1% | — | 0.5 yr |
| GPCRStructure Therapeutics I | $6M | 3.0% | — | 0.5 yr |
| PCVXVaxcyte, Inc. | $6M | 2.6% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology89.3%$192M
Unknown5.5%$12M
Medical - Care Facilities5.2%$11M
Country
US79.3%
Unknown5.5%
GB5.2%
CA4.9%
FR3.4%
CN1.6%
Top 5: 48.9% · Top 10: 71.0% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 10
| TERN Terns Pharmaceuticals, Inc. | +$0M |
| CMPS COMPASS Pathways plc | +$7M |
| RYTM Rhythm Pharmaceuticals, Inc. | +$5M |
| ZBIO Zenas BioPharma, Inc. | +$8M |
| GPCR Structure Therapeutics Inc. | +$6M |
| SMMT Summit Therapeutics Inc.new | +$2M |
| COGT Cogent Biosciences, Inc. | +$1M |
| IRON Disc Medicine, Inc. | +$3M |
| ZLAB Zai Lab Limited | +$0M |
| IVA Inventiva S.A. | +$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $215M | 24 | +14.36% | -4.37% | +18.73% | +0.02B |
| 2025-12-31 | $170M | 23 | — | — | — | — |