Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$584M in Q4 2020 → $113M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Definium Therapeutics Inc Call | 16.6% | New | 400,000 | $18.8M |
| Abivax Sa Call | 14.7% | New | 125,000 | $16.7M |
| Minerva Neurosciences Inc | 10.7% | Added 31% | 2,175,802 | $12.1M |
| Promis Neurosciences Inc | 7.2% | Added 50% | 620,319 | $8.16M |
| First Tracks Biotherapeutics | 5.1% | New | 284,287 | $5.72M |
| Axsome Therapeutics Inc | 3.6% | New | 16,493 | $4.04M |
| Assembly Biosciences Inc | 3.4% | New | 140,000 | $3.85M |
| Whitehawk Therapeutics Inc | 3.3% | Unchanged | 817,939 | $3.75M |
| Edgewise Therapeutics Inc | 3.0% | Trimmed 48% | 83,300 | $3.38M |
| Climb Bio Inc | 2.9% | New | 249,172 | $3.25M |
| Kura Oncology Inc | 2.8% | New | 290,000 | $3.18M |
| Cytomx Therapeutics Inc. | 2.6% | Trimmed 14% | 775,000 | $2.91M |
| Avalo Therapeutics Inc | 2.5% | New | 150,000 | $2.77M |
| Palisade Bio Inc | 2.3% | New | 1,229,000 | $2.57M |
| Solid Biosciences Inc | 2.3% | Trimmed 67% | 255,959 | $2.56M |
| An2 Therapeutics Inc | 2.3% | Unchanged | 526,315 | $2.55M |
| Urogen Pharma Ltd | 2.3% | Trimmed 66% | 69,183 | $2.55M |
| Perspective Therapeutics Inc | 2.2% | Trimmed 20% | 743,958 | $2.54M |
| Ideaya Biosciences Inc | 2.2% | New | 67,500 | $2.52M |
| Inventiva Sa | 2.1% | Trimmed 15% | 634,800 | $2.4M |
| Alumis Inc | 1.9% | Trimmed 54% | 76,459 | $2.15M |
| Ovid Therapeutics Inc | 1.5% | Trimmed 78% | 624,561 | $1.68M |
| Eupraxia Pharmaceuticals Inc | 1.5% | Trimmed 62% | 252,175 | $1.67M |
| Ibio Inc | 0.6% | New | 390,147 | $683K |
| Traws Pharma Inc | 0.6% | New | 786,236 | $663K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Definium Therapeutics Inc | New | +400,000 | +$18.8M | 16.6% |
| Abivax Sa | New | +125,000 | +$16.7M | 14.7% |
| PP Praxis Precision Medicines I | Exited | −32,810 | −$10.6M | — |
| Soleno Therapeutics Inc | Exited | −200,000 | −$6.7M | — |
| Soleno Therapeutics Inc | Exited | −200,000 | −$6.7M | — |
| Ovid Therapeutics Inc | Trimmed | −2,193,898 | −$5.9M | 1.5% |
| Compass Pathways PLC | Exited | −1,045,000 | −$5.78M | — |
| First Tracks Biotherapeutics | New | +284,287 | +$5.72M | 5.1% |
| Tarsus Pharmaceuticals Inc | Exited | −80,859 | −$5.67M | — |
| Compass Therapeutics Inc | Exited | −1,000,000 | −$5.29M | — |
Showing the 10 largest of 37 changes.
quarter ended March 31, 2026 · filed May 18, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Compass Pathways PLC | Exited | −1,100,000 | −$7.59M | — |
| Replimune Group Inc | Trimmed | −953,100 | −$7.29M | 1.5% |
| AB Atai Beckley Nv | Exited | −1,713,105 | −$7.01M | — |
| Soleno Therapeutics Inc | New | +200,000 | +$6.7M | 5.4% |
| Edgewise Therapeutics Inc | Exited | −250,000 | −$6.2M | — |
| Compass Pathways PLC | New | +1,045,000 | +$5.78M | 4.7% |
| Tarsus Pharmaceuticals Inc | New | +80,859 | +$5.67M | 4.6% |
| Compass Therapeutics Inc | New | +1,000,000 | +$5.29M | 4.3% |
| Cytomx Therapeutics Inc. | New | +900,000 | +$4.23M | 3.4% |
| Inventiva Sa | Trimmed | −754,700 | −$4.19M | 3.3% |
Showing the 10 largest of 30 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Replimune Group Inc | Trimmed | −2,400,000 | −$23.3M | 12.2% |
| Soleno Therapeutics Inc | Exited | −250,000 | −$16.9M | — |
| Madrigal Pharmaceuticals Inc | Exited | −32,662 | −$15M | — |
| AP Ascendis Pharma A/s - ADR | Exited | −51,080 | −$10.2M | — |
| Abivax Sa | New | +70,000 | +$9.44M | 9.8% |
| Lenz Therapeutics Inc | Exited | −175,363 | −$8.17M | — |
| Taysha Gene Therapies Inc | Trimmed | −1,440,980 | −$7.93M | 2.6% |
| Inventiva Sa | New | +1,500,000 | +$6.98M | 7.3% |
| Minerva Neurosciences Inc | New | +1,655,500 | +$6.66M | 6.9% |
| Soleno Therapeutics Inc | Trimmed | −134,454 | −$6.23M | 8.1% |
Showing the 10 largest of 33 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Soleno Therapeutics Inc | New | +250,000 | +$16.9M | 10.3% |
| Verona Pharma PLC | Exited | −160,701 | −$15.2M | — |
| Replimune Group Inc | New | +3,600,000 | +$15.1M | 9.2% |
| Madrigal Pharmaceuticals Inc | New | +32,662 | +$15M | 9.1% |
| AB Atai Beckley Nv | New | +2,287,005 | +$12.1M | 7.4% |
| AP Ascendis Pharma A/s - ADR | New | +51,080 | +$10.2M | 6.2% |
| Soleno Therapeutics Inc | Added | +123,664 | +$8.36M | 12.5% |
| Lenz Therapeutics Inc | Trimmed | −167,959 | −$7.82M | 5.0% |
| Merus N V | Exited | −140,208 | −$7.37M | — |
| Compass Pathways PLC | New | +1,145,700 | +$6.56M | 4.0% |
Showing the 10 largest of 37 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Springworks Therapeutics Inc | Exited | −281,139 | −$12.4M | — |
| Lenz Therapeutics Inc | New | +343,322 | +$10.1M | 8.4% |
| Axsome Therapeutics Inc | Exited | −72,113 | −$8.41M | — |
| Blueprint Medicines Corp | Exited | −74,192 | −$6.57M | — |
| Axsome Therapeutics Inc | Exited | −50,000 | −$5.83M | — |
| UP Ultragenyx Pharmaceutical In | New | +1,600 | +$5.82M | 4.8% |
| Oric Pharmaceuticals Inc | New | +485,629 | +$4.93M | 4.1% |
| Replimune Group Inc | New | +528,491 | +$4.91M | 4.1% |
| Soleno Therapeutics Inc | Added | +58,370 | +$4.89M | 12.5% |
| Trevi Therapeutics Inc | Exited | −686,219 | −$4.32M | — |
Showing the 10 largest of 36 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Intra-cellular Therapies Inc | Exited | −147,750 | −$12.3M | — |
| Springworks Therapeutics Inc | Added | +226,447 | +$9.99M | 11.2% |
| VP Verona Pharma PLC - ADR | New | +139,067 | +$8.83M | 8.0% |
| Axsome Therapeutics Inc | New | +50,000 | +$5.83M | 5.3% |
| Alumis Inc | Exited | −445,259 | −$3.5M | — |
| Jasper Therapeutics Inc | Exited | −122,424 | −$2.62M | — |
| EP Eyepoint Pharmaceuticals Inc | Exited | −348,000 | −$2.59M | — |
| 89bio Inc | Exited | −317,833 | −$2.49M | — |
| Soleno Therapeutics Inc | Added | +32,820 | +$2.34M | 7.8% |
| Tectonic Therapeutic Inc | New | +132,222 | +$2.34M | 2.1% |
Showing the 10 largest of 33 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Intra-cellular Therapies Inc | New | +147,750 | +$12.3M | 10.6% |
| Sarepta Therapeutics Inc | Exited | −72,000 | −$8.99M | — |
| Tarsus Pharmaceuticals Inc | Trimmed | −148,754 | −$8.24M | 8.2% |
| LP Longboard Pharmaceuticals In | Exited | −240,892 | −$8.03M | — |
| Revolution Medicines Inc | Exited | −163,500 | −$7.41M | — |
| Springworks Therapeutics Inc | Trimmed | −173,008 | −$6.25M | 1.7% |
| Jasper Therapeutics Inc | Trimmed | −277,042 | −$5.92M | 2.2% |
| Kura Oncology Inc | Exited | −294,081 | −$5.75M | — |
| Axsome Therapeutics Inc | New | +66,661 | +$5.64M | 4.8% |
| Applied Therapeutics Inc | Exited | −618,332 | −$5.26M | — |
Showing the 10 largest of 37 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Soleno Therapeutics Inc | Exited | −286,162 | −$11.7M | — |
| Tarsus Pharmaceuticals Inc | New | +321,898 | +$10.6M | 5.7% |
| Legend Biotech Corp | Exited | −195,000 | −$8.64M | — |
| Revolution Medicines Inc | New | +163,500 | +$7.41M | 4.0% |
| DO Day One Biopharmaceuticals I | Exited | −536,095 | −$7.39M | — |
| Springworks Therapeutics Inc | New | +227,700 | +$7.3M | 3.9% |
| Geron Corp | Trimmed | −1,405,610 | −$6.38M | 3.2% |
| Avadel Pharmaceuticals PLC | Exited | −430,245 | −$6.05M | — |
| Enliven Therapeutics Inc | New | +234,856 | +$6M | 3.2% |
| Applied Therapeutics Inc | New | +618,332 | +$5.26M | 2.8% |
Showing the 10 largest of 34 changes.
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