Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
-2.00%
trims when stocks drop
when a holding falls −10%+
Middle response
-3.10%
baseline attrition
Rally response
-2.82%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| NTRANatera, Inc. | $9M | 8.4% | +41.4% | 7.8 yr |
| LLYEli Lilly and Company | $8M | 7.7% | +12.2% | 10.3 yr |
| AXGNAxoGen, Inc. | $6M | 5.3% | +79.1% | 10.3 yr |
| IDXXIDEXX Laboratories, Inc. | $5M | 5.2% | +33.8% | 10.3 yr |
| MSFTMicrosoft Corporation | $4M | 4.0% | -0.6% | 10.3 yr |
| BFLYButterfly Network, Inc. | $4M | 3.6% | +77.2% | 1.3 yr |
| CIENCiena Corporation | $3M | 3.3% | +542.4% | 7.3 yr |
| — | $3M | 3.2% | — | 2.5 yr |
| AMDAdvanced Micro Devices, | $3M | 3.0% | +98.0% | 8.3 yr |
| QUIKQuickLogic Corporation | $3M | 2.7% | +83.6% | 6.3 yr |
| LMATLeMaitre Vascular, Inc. | $3M | 2.7% | +31.3% | 9.8 yr |
| OOMAOoma, Inc. | $3M | 2.5% | +11.2% | 8.3 yr |
| VCYTVeracyte, Inc. | $2M | 2.3% | +8.6% | 8.3 yr |
| ABTAbbott Laboratories | $2M | 2.0% | -21.1% | 10.3 yr |
| ATECAlphatec Holdings, Inc. | $2M | 1.8% | +7.3% | 6.3 yr |
Portfolio composition (YoY)
Industry mix
Medical - Diagnostics & Research18.8%+1.0pp$20M
Medical - Devices17.8%+5.0pp$19M
Drug Manufacturers - General12.4%-2.1pp$13M
Semiconductors6.8%+1.8pp$7M
Unknown6.3%+3.3pp$7M
Communication Equipment5.5%+4.1pp$6M
Software - Infrastructure5.1%-1.3pp$5M
Biotechnology5.1%-3.1pp$5M
Telecommunications Services4.5%-0.5pp$5M
Medical - Instruments & Supplies3.6%-1.0pp$4M
Country
US90.5%-4.4pp
Unknown6.3%+3.3pp
IL1.5%+1.0pp
CA0.7%-0.1pp
GB0.4%+0.1pp
NL0.3%-0.1pp
SG0.2%
CH0.0%
Top 5: 30.7% · Top 10: 46.5% · Top 25: 71.3%
Top buys this quarter · 15
| TLSI TriSalus Life Sciences, Inc.new | +$1M |
| SPAI Safe Pro Group Inc. Common Stonew | +$1M |
| QUIK QuickLogic Corporation | +$0M |
| STX Seagate Technology Holdings plnew | +$0M |
| BLZE Backblaze, Inc. | +$1M |
| PERI Perion Network Ltd. | +$0M |
| XGN Exagen Inc. | +$0M |
| BFLY Butterfly Network, Inc. | +$0M |
| DCI Donaldson Company, Inc. | +$0M |
| IRIX IRIDEX Corporation | +$0M |
Top sells this quarter · 15
| SKYT SkyWater Technology, Inc. | −$3M |
| AXGN AxoGen, Inc. | −$2M |
| DAWN Day One Biopharmaceuticals, Inexit | −$2M |
| APPS Digital Turbine, Inc.exit | −$1M |
| INTC Intel Corporationexit | −$1M |
| AAPL Apple Inc. | −$1M |
| AMD Advanced Micro Devices, Inc. | −$0M |
| LMAT LeMaitre Vascular, Inc. | −$2M |
| CSTL Castle Biosciences, Inc. | −$0M |
| MSFT Microsoft Corporation | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $105M | 85 | +34.62% | +17.59% | +17.03% | -0.01B |
| 2025-12-31 | $124M | 90 | +10.56% | +17.72% | -7.16% | -0.00B |
| 2025-09-30 | $112M | 82 | +25.21% | +17.52% | +7.70% | +0.00B |
| 2025-06-30 | $98M | 80 | +17.75% | +14.94% | +2.81% | -0.01B |
| 2025-03-31 | $94M | 81 | -2.79% | +8.30% | -11.10% | +0.01B |
| 2024-12-31 | $111M | 80 | +26.62% | +24.89% | +1.73% | -0.02B |
| 2024-09-30 | $107M | 83 | +28.16% | +36.04% | -7.88% | -0.01B |
| 2024-06-30 | $106M | 87 | +4.32% | +24.49% | -20.17% | -0.00B |
| 2024-03-31 | $120M | 89 | +10.71% | +29.62% | -18.91% | +0.00B |
| 2023-12-31 | $117M | 91 | +22.74% | +26.18% | -3.43% | -0.01B |
| 2023-09-30 | $101M | 97 | -11.46% | +21.57% | -33.03% | +0.00B |
| 2023-06-30 | $115M | 96 | -7.65% | +19.42% | -27.07% | +0.01B |
| 2023-03-31 | $106M | 96 | -20.64% | -7.82% | -12.82% | -0.00B |
| 2022-12-31 | $95M | 99 | -7.01% | +7.56% | -14.57% | +0.01B |
| 2022-09-30 | $89M | 103 | -9.83% | -4.93% | -4.90% | +0.00B |
| 2022-06-30 | $96M | 104 | -15.60% | -16.11% | +0.51% | -0.01B |