Performance vs S&P 500

03
Tracked Q1 2025–Q2 2026 +85.4%
S&P 500 total return (same window) +37.0%
Excess return +48.4%

Annualized: +63.9% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 98.1% · Options excluded: 0.0%

Sector breakdown

04
Health Care 96.7%
Industrials 3.3%

Full portfolio 31 positions

05
Type Streak 8Q trend
NEO NeoGenomics, Inc. - Common Stock $179,158,241 10.89% 12,279,523 $106,961,804 Up ×1
SIBN SI-BONE, Inc. - Common Stock $132,648,715 8.06% 8,127,985 $65,037,925 Up ×6
AXGN Axogen, Inc. - Common Stock $126,946,795 7.72% 2,748,361 $-5,664,909 Down ×3
APGE Apogee Therapeutics, Inc. - Common Stock $123,477,259 7.50% 930,289 $74,937,767 Up ×2
PVLA Palvella Therapeutics, Inc. - Common Stock $117,961,911 7.17% 771,901 $-4,289,574 Down ×1
TWST Twist Bioscience Corporation - Common Stock $74,889,747 4.55% 727,933 $33,126,890 Down ×3
ELVN Enliven Therapeutics, Inc. - Common Stock $69,058,063 4.20% 1,360,750 $61,144,877 Up ×1
GH Guardant Health, Inc. - Common Stock $66,251,148 4.03% 441,586 $40,359,929 Up ×1
MASS 908 Devices Inc. - Common Stock $54,660,395 3.32% 6,282,804 $17,496,309 Up ×4
AMLX Amylyx Pharmaceuticals, Inc. - Common Stock $54,297,678 3.30% 3,023,256 $9,947,712 Down ×3
WGS GeneDx Holdings Corp. - Class A Common Stock $53,816,314 3.27% 783,923 $38,215,542 Up ×1
SLP Simulations Plus, Inc. - Common Stock $51,133,916 3.11% 2,792,677 $20,013,948 Up ×4
TNDM Tandem Diabetes Care, Inc. - Common Stock $51,057,815 3.10% 3,383,553 $25,854,728 Up ×2
CRNX Crinetics Pharmaceuticals, Inc. - Common Stock $50,923,606 3.10% 1,360,866 $11,346,792 Up ×1
NPCE Neuropace, Inc. - Common Stock $45,463,944 2.76% 2,861,167 $13,115,391 Up ×2
EWTX Edgewise Therapeutics, Inc. - Common Stock $44,496,798 2.70% 1,095,171 $12,938,649 Up ×1
ANAB AnaptysBio, Inc. - Common Stock $39,285,270 2.39% 582,004 $7,926,467 Up ×1
TRVI Trevi Therapeutics, Inc. - Common Stock $39,113,060 2.38% 2,097,215 Up ×1
SEPN Septerna, Inc. - Common Stock $32,259,577 1.96% 963,260 $14,648,951 Up ×2
TLSI TriSalus Life Sciences, Inc. - Common Stock $29,813,834 1.81% 6,552,491 $9,546,526 Up ×1
TECX Tectonic Therapeutic, Inc. - Common Stock $27,524,958 1.67% 800,726 $7,503,222 Up ×1
HCAT Health Catalyst, Inc - Common stock $25,493,613 1.55% 12,810,861 $9,137,664 Down ×3
BFLY Butterfly Network, Inc. Class A Common Stock $22,249,042 1.35% 2,642,404 $11,501,967 Down ×2
ESTA Establishment Labs Holdings Inc. - Common Shares $21,158,772 1.29% 246,577 $3,685,408 Down ×3
PCVX Vaxcyte, Inc. - Common Stock $20,063,976 1.22% 345,157 $11,824,908 Up ×1
IRTC iRhythm Holdings, Inc. - Common Stock $19,875,593 1.21% 167,092 $34,543 Down ×1
OMCL Omnicell, Inc. - Common Stock $18,780,492 1.14% 452,324 $2,429,433 Down ×1
ATRC AtriCure, Inc. - Common Stock $15,888,107 0.97% 567,838 $-4,925,127 Down ×2
KRMD KORU Medical Systems, Inc. - Common Stock $14,229,188 0.86% 3,387,902 $-2,050,214 Down ×4
TCMD Tactile Systems Technology, Inc. - Common Stock $13,775,096 0.84% 462,562 Up ×1
RYTM Rhythm Pharmaceuticals, Inc. - Common Stock $9,522,488 0.58% 85,765 $1,940,356 Down ×2

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
SIBN $132,648,715 8.06% up ×6
MASS $54,660,395 3.32% up ×4
SLP $51,133,916 3.11% up ×4

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
TRVI $39,113,060 2,097,215 2.38%
TCMD $13,775,096 462,562 0.84%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
NEO Bought more +2.5M +$107.0M
APGE Bought more +354K +$74.9M
SIBN Bought more +2.8M +$65.0M
GH Bought more +161K +$40.4M
WGS Bought more +541K +$38.2M
TWST Trimmed -151K +$33.1M
TNDM Bought more +2.1M +$25.9M
SLP Bought more +160K +$20.0M
MASS Bought more +210K +$17.5M
SEPN Bought more +230K +$14.6M

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
PHLT Dec. 31, 2025 11,718,612 $90,584,871 No longer tracked
CNTA June 30, 2026 1,560,991 $62,002,563 No longer tracked
IRON March 31, 2026 523,167 $41,544,691 0.9%
MDGL March 31, 2026 66,831 $38,918,365 -4.6%
LENZ Dec. 31, 2025 693,044 $32,281,990 -77.6%
CDTX Dec. 31, 2025 292,657 $28,024,834 No longer tracked
MRUS Dec. 31, 2025 224,080 $21,097,132 No longer tracked
ADMA Dec. 31, 2025 1,069,233 $15,674,956 -46.7%
WVE June 30, 2026 1,843,968 $13,368,768 -34.9%
VERA June 30, 2026 313,906 $12,628,438 -29.1%
ABVX March 31, 2026 88,674 $11,958,132 -16.6%
CAI Dec. 31, 2025 403,924 $11,884,702 4.9%
MDXG June 30, 2026 2,842,892 $11,229,423 19.2%
SGP June 30, 2026 375,000 $9,716,250 11.9%
RARE Dec. 31, 2025 285,699 $8,593,826 -33.8%
ORGO June 30, 2026 3,498,533 $8,291,523 -45.3%
SENS Dec. 31, 2025 18,007,632 $7,847,726 79.0%
TMDX June 30, 2025 107,860 $7,256,821 -40.5%
ELDN Sept. 30, 2025 2,600,498 $7,047,350 -3.9%
OSCR June 30, 2025 522,302 $6,847,379 44.3%
FNA June 30, 2025 500,000 $6,530,000 No longer tracked
INSM Sept. 30, 2025 62,901 $6,330,357 -22.8%
XENE Sept. 30, 2025 188,367 $5,895,887 -5.3%
RGEN Dec. 31, 2025 41,427 $5,537,547 10.9%
GPCR Dec. 31, 2025 197,350 $5,525,800 -60.2%
EOLS Sept. 30, 2025 520,631 $4,795,012 16.3%
TNDM June 30, 2025 245,257 $4,699,124 -11.5%
EVH Dec. 31, 2025 545,282 $4,613,086 -13.5%
PODD June 30, 2025 17,022 $4,470,147 -58.1%
PCVX June 30, 2025 94,420 $3,565,299 73.7%
ALHC Dec. 31, 2025 203,138 $3,544,758 -59.8%
JANX Sept. 30, 2025 149,596 $3,455,668 -30.7%
RDNT Dec. 31, 2025 42,280 $3,222,159 -2.0%
TECX Dec. 31, 2025 202,393 $3,175,546 8.1%
DYN March 31, 2026 155,231 $3,036,318 -16.2%
LNTH Sept. 30, 2025 30,045 $2,459,484 94.9%
LABD June 30, 2025 140,282 $2,303,430 -90.1%
IWO March 31, 2026 760 $245,488