Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-15.56%
trims when stocks drop
when a holding falls −10%+
Middle response
-8.65%
baseline attrition
Rally response
-47.95%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| SGOViShares 0-3 Month Treasu | $70M | 49.9% | — | 0.5 yr |
| XBIState Street SPDR S&P Bi | $36M | 25.7% | — | 0.3 yr |
| SERASera Prognostics, Inc. | $5M | 3.4% | — | 0.3 yr |
| DFTXDefinium Therapeutics, I | $1M | 0.5% | — | 0.3 yr |
| TYRATyra Biosciences, Inc. | $1M | 0.4% | — | 0.5 yr |
| — | $1M | 0.4% | — | 0.5 yr |
| PHVSPharvaris N.V. | $1M | 0.4% | — | 0.5 yr |
| CYTKCytokinetics, Incorporat | $1M | 0.4% | — | 0.5 yr |
| RPRXRoyalty Pharma plc | $1M | 0.4% | — | 0.5 yr |
| KYMRKymera Therapeutics, Inc | $1M | 0.4% | — | 0.5 yr |
| HALOHalozyme Therapeutics, I | $1M | 0.4% | — | 0.5 yr |
| EXELExelixis, Inc. | $1M | 0.4% | — | 0.5 yr |
| IRONDisc Medicine, Inc. | $1M | 0.4% | — | 0.3 yr |
| IONSIonis Pharmaceuticals, I | $1M | 0.4% | — | 0.5 yr |
| AGIOAgios Pharmaceuticals, I | $1M | 0.4% | — | 0.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management - Bonds49.9%$70M
Asset Management25.7%$36M
Biotechnology18.4%$26M
Medical - Diagnostics & Research3.4%$5M
Unknown2.0%$3M
Medical - Care Facilities0.3%$0M
Drug Manufacturers - Specialty & Generic0.2%$0M
Country
US95.7%
Unknown2.0%
NL0.7%
GB0.6%
CA0.5%
CH0.3%
IE0.2%
Top 5: 79.9% · Top 10: 81.9% · Top 25: 87.1%
Winners
| Ticker | Prev $ | PnL | YoY % |
|---|
Losers
| Ticker | Prev $ | PnL | YoY % |
|---|
Top buys this quarter · 15
| SERA Sera Prognostics, Inc.new | +$5M |
| DFTX Definium Therapeutics, Inc.new | +$1M |
| IRON Disc Medicine, Inc.new | +$1M |
| AGIO Agios Pharmaceuticals, Inc.new | +$1M |
| AXSM Axsome Therapeutics, Inc.new | +$0M |
| ARDX Ardelyx, Inc.new | +$0M |
| RARE Ultragenyx Pharmaceutical Inc.new | +$0M |
| GLUE Monte Rosa Therapeutics, Inc.new | +$0M |
| CMPS COMPASS Pathways plcnew | +$0M |
| TRVI Trevi Therapeutics, Inc.new | +$0M |
Top sells this quarter · 15
| ALMS Alumis Inc. Common Stockexit | −$1M |
| CGON CG Oncology, Inc. Common stockexit | −$1M |
| APLS Apellis Pharmaceuticals, Inc.exit | −$1M |
| CNTA Centessa Pharmaceuticals plcexit | −$1M |
| ROIV Roivant Sciences Ltd.exit | −$1M |
| RVMD Revolution Medicines, Inc.exit | −$1M |
| DNTH Dianthus Therapeutics, Inc. | −$1M |
| PVLA Palvella Therapeutics, Inc.exit | −$1M |
| JAZZ Jazz Pharmaceuticals plcexit | −$1M |
| DNLI Denali Therapeutics Inc.exit | −$1M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $141M | 79 | +0.50% | -4.37% | +4.87% | +0.03B |
| 2025-12-31 | $114M | 84 | — | — | — | — |