Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+8.23%
adds when stocks drop
when a holding falls −10%+
Middle response
+3.47%
steady accumulation
Rally response
+2.91%
adds into rallies
when a holding rises +10%+
Top positions · 20
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| ADMAADMA Biologics, Inc. | $29M | 21.4% | -54.6% | 1.5 yr |
| — | $20M | 14.8% | — | 0.5 yr |
| — | $11M | 7.9% | — | 1.3 yr |
| CLLSCellectis S.A. | $10M | 7.7% | +155.6% | 1.5 yr |
| ZLABZai Lab Limited | $8M | 6.3% | -48.0% | 1.5 yr |
| TSHATaysha Gene Therapies, I | $8M | 6.0% | +221.6% | 1.5 yr |
| NRXPNRx Pharmaceuticals, Inc | $6M | 4.7% | +3.9% | 0.3 yr |
| GPCRStructure Therapeutics I | $6M | 4.6% | +178.5% | 0.5 yr |
| IOVAIovance Biotherapeutics, | $5M | 3.9% | +5.4% | 1.5 yr |
| SYRESpyre Therapeutics, Inc. | $5M | 3.7% | +212.5% | 1.5 yr |
| — | $5M | 3.7% | — | 0.3 yr |
| — | $5M | 3.6% | — | 1.5 yr |
| AURAAura Biosciences, Inc. | $4M | 3.0% | +14.2% | 1.5 yr |
| ORKAOruka Therapeutics, Inc. | $4M | 2.7% | +378.1% | 1.5 yr |
| SGHTSight Sciences, Inc. | $4M | 2.7% | +57.1% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology66.6%-27.3pp$90M
Unknown30.7%+26.7pp$41M
Medical - Devices2.7%+0.6pp$4M
Country
US55.3%-19.8pp
Unknown30.7%+26.7pp
FR7.7%+3.5pp
CN6.3%-8.9pp
Top 5: 58.2% · Top 10: 81.1% · Top 25: 100.0%
Top buys this quarter · 11
| — new | +$0M |
| — | +$0M |
| — new | +$0M |
| ADMA ADMA Biologics, Inc. | +$29M |
| NRXP NRx Pharmaceuticals, Inc.new | +$6M |
| GPCR Structure Therapeutics Inc. | +$6M |
| ZLAB Zai Lab Limited | +$1M |
| FHTX Foghorn Therapeutics Inc.new | +$0M |
| REPL Replimune Group, Inc.new | +$0M |
| SGHT Sight Sciences, Inc. | +$4M |
Top sells this quarter · 1
| — | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $135M | 20 | -16.25% | +17.59% | -33.84% | +0.04B |
| 2025-12-31 | $135M | 15 | +19.01% | +17.72% | +1.29% | +0.01B |
| 2025-09-30 | $100M | 15 | -3.21% | +8.12% | -11.33% | +0.00B |
| 2025-06-30 | $100M | 14 | -3.51% | +10.78% | -14.28% | +0.01B |
| 2025-03-31 | $95M | 16 | +2.04% | -4.27% | +6.31% | -0.05B |
| 2024-12-31 | $139M | 17 | — | — | — | — |