Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-40.82%
trims when stocks drop
when a holding falls −10%+
Middle response
-7.01%
baseline attrition
Rally response
+14.51%
adds into rallies
when a holding rises +10%+
Top positions · 13
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| KYTXKyverna Therapeutics, In | $37M | 33.0% | — | 0.5 yr |
| VIRVir Biotechnology, Inc. | $14M | 12.2% | — | 0.5 yr |
| BLCOBausch + Lomb Corporatio | $9M | 8.2% | — | 0.5 yr |
| AMGNAmgen Inc. | $7M | 6.4% | — | 0.5 yr |
| SRRKScholar Rock Holding Cor | $7M | 5.9% | — | 0.3 yr |
| RAREUltragenyx Pharmaceutica | $6M | 5.5% | — | 0.5 yr |
| PYXSPyxis Oncology, Inc. | $6M | 5.4% | — | 0.5 yr |
| SIONSionna Therapeutics, Inc | $5M | 4.9% | — | 0.3 yr |
| CLDXCelldex Therapeutics, In | $5M | 4.9% | — | 0.5 yr |
| CRNXCrinetics Pharmaceutical | $5M | 4.2% | — | 0.5 yr |
| INCYIncyte Corporation | $4M | 3.7% | — | 0.5 yr |
| ALLOAllogene Therapeutics, I | $3M | 3.1% | — | 0.3 yr |
| TARSTarsus Pharmaceuticals, | $3M | 2.7% | — | 0.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology85.4%$95M
Medical - Instruments & Supplies8.2%$9M
Drug Manufacturers - General6.4%$7M
Country
US91.8%
CA8.2%
Top 5: 65.7% · Top 10: 90.5% · Top 25: 100.0%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 4
| SRRK Scholar Rock Holding Corporatinew | +$7M |
| SION Sionna Therapeutics, Inc.new | +$5M |
| VIR Vir Biotechnology, Inc. | +$5M |
| ALLO Allogene Therapeutics, Inc.new | +$3M |
Top sells this quarter · 9
| TEVA Teva Pharmaceutical Industriesexit | −$23M |
| TSHA Taysha Gene Therapies, Inc.exit | −$6M |
| CRNX Crinetics Pharmaceuticals, Inc | −$4M |
| TARS Tarsus Pharmaceuticals, Inc. | −$2M |
| KYTX Kyverna Therapeutics, Inc. | −$1M |
| AMGN Amgen Inc. | −$1M |
| INCY Incyte Corporation | −$1M |
| RARE Ultragenyx Pharmaceutical Inc. | −$1M |
| BLCO Bausch + Lomb Corporation | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $111M | 13 | -1.97% | -4.37% | +2.40% | -0.02B |
| 2025-12-31 | $135M | 12 | — | — | — | — |