Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+11.70%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.04%
baseline attrition
Rally response
+0.32%
adds into rallies
when a holding rises +10%+
Top positions · 22
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| TERNTerns Pharmaceuticals, I | $92M | 26.2% | — | 1.5 yr |
| CGONCG Oncology, Inc. Common | $77M | 21.8% | +176.4% | 1.5 yr |
| URGNUroGen Pharma Ltd. | $30M | 8.6% | +62.6% | 1.5 yr |
| PBYIPuma Biotechnology, Inc. | $26M | 7.5% | +115.9% | 1.5 yr |
| TRVITrevi Therapeutics, Inc. | $26M | 7.3% | +89.7% | 1.5 yr |
| CADLCandel Therapeutics, Inc | $17M | 4.9% | -13.3% | 1.5 yr |
| BCAXBicara Therapeutics Inc. | $13M | 3.6% | +52.6% | 1.5 yr |
| OKUROnKure Therapeutics, Inc | $12M | 3.3% | -3.7% | 1.5 yr |
| JBIOJade Biosciences, Inc. | $11M | 3.1% | — | 0.3 yr |
| TARAProtara Therapeutics, In | $9M | 2.6% | +22.3% | 1.5 yr |
| 0LOV.LVerastem, Inc. | $8M | 2.2% | — | 1.3 yr |
| CYBNCybin Inc. | $7M | 2.1% | — | 1.5 yr |
| LONALeonaBio, Inc. | $7M | 1.9% | — | 0.5 yr |
| AURAAura Biosciences, Inc. | $4M | 1.1% | +14.2% | 1.3 yr |
| WHWKWhitehawk Therapeutics I | $4M | 1.1% | +93.8% | 1.5 yr |
Portfolio composition (YoY)
Industry mix
Biotechnology99.1%+5.7pp$349M
Unknown0.9%-3.1pp$3M
Country
US97.0%+4.1pp
CA2.1%-1.0pp
Unknown0.9%-3.1pp
Top 5: 71.3% · Top 10: 88.9% · Top 25: 100.0%
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $352M | 22 | +78.29% | +17.59% | +60.70% | +0.02B |
| 2025-12-31 | $295M | 21 | +29.55% | +17.72% | +11.84% | +0.07B |
| 2025-09-30 | $197M | 20 | +40.11% | +8.12% | +31.99% | -0.02B |
| 2025-06-30 | $153M | 21 | -2.03% | +10.78% | -12.80% | +0.01B |
| 2025-03-31 | $150M | 22 | -17.52% | -4.27% | -13.25% | -0.00B |
| 2024-12-31 | $185M | 20 | — | — | — | — |