Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (35 quarters reported)
$152M in Q4 2017 → $1.68B 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 |
|---|---|---|---|---|
| Kailera Therapeutics Inc | 29.6% | New | 22,583,268 | $498M |
| Heartflow Inc | 14.7% | Trimmed 19% | 8,448,158 | $248M |
| NP Newamsterdam Pharma Company | 7.7% | Trimmed 48% | 3,806,566 | $129M |
| Savara Inc | 6.4% | Unchanged | 17,600,621 | $108M |
| Alkermes PLC | 6.0% | Added 218% | 1,937,938 | $102M |
| Solid Biosciences Inc | 5.8% | Unchanged | 9,808,819 | $98M |
| Pharvaris N V | 5.5% | Unchanged | 2,675,509 | $92.5M |
| Olema Pharmaceuticals Inc | 5.3% | Trimmed 5.2% | 7,085,249 | $88.6M |
| Hemab Therapeutics Holdings Inc | 3.6% | New | 1,650,000 | $60.6M |
| Cabaletta Bio Inc | 3.2% | Added 78% | 17,241,445 | $53.6M |
| X4 Pharmaceuticals Inc | 2.2% | Unchanged | 7,967,454 | $37.2M |
| DT Dianthus Therapeutics Inc | 2.1% | Unchanged | 362,470 | $35.3M |
| C4 Therapeutics Inc | 2.0% | Unchanged | 7,171,910 | $33.5M |
| Kyverna Therapeutics Inc | 1.5% | Trimmed 7.2% | 2,885,000 | $25.7M |
| Annexon Inc | 1.5% | Trimmed 15% | 4,437,731 | $25.3M |
| Rapid Micro Biosystems Inc | 0.9% | Unchanged | 8,434,560 | $14.6M |
| Disc Medicine Inc | 0.6% | Unchanged | 141,234 | $10.3M |
| Atea Pharmaceuticals Inc | 0.6% | Trimmed 12% | 2,075,639 | $9.65M |
| Xilio Therapeutics Inc | 0.4% | Unchanged | 664,021 | $6.36M |
| Upstream Bio Inc | 0.2% | Trimmed 31% | 600,949 | $4.16M |
| NP Newamsterdam Pharma Company | 0.1% | Unchanged | 99,999 | $2.14M |
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 |
|---|---|---|---|---|
| Kailera Therapeutics Inc | New | +22,583,268 | +$498M | 29.6% |
| NP Newamsterdam Pharma Company | Trimmed | −3,500,000 | −$119M | 7.7% |
| Alkermes PLC | Added | +1,327,938 | +$69.6M | 6.0% |
| Hemab Therapeutics Holdings Inc | New | +1,650,000 | +$60.6M | 3.6% |
| Heartflow Inc | Trimmed | −2,000,000 | −$58.7M | 14.7% |
| Centessa Pharmaceuticals | Exited | −635,000 | −$25.2M | — |
| Cabaletta Bio Inc | Added | +7,564,320 | +$23.5M | 3.2% |
| Olema Pharmaceuticals Inc | Trimmed | −387,989 | −$4.85M | 5.3% |
| Annexon Inc | Trimmed | −774,943 | −$4.42M | 1.5% |
| Kyverna Therapeutics Inc | Trimmed | −225,000 | −$2M | 1.5% |
Showing the 10 largest of 12 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Heartflow Inc | Trimmed | −2,000,000 | −$48.7M | 22.9% |
| DT Dianthus Therapeutics Inc | Trimmed | −381,122 | −$32M | 2.7% |
| Centessa Pharmaceuticals | New | +635,000 | +$25.2M | 2.3% |
| Alkermes PLC | New | +610,000 | +$21.6M | 1.9% |
| Olema Pharmaceuticals Inc | Trimmed | −1,035,403 | −$15.4M | 10.0% |
| Solid Biosciences Inc | Added | +1,897,150 | +$13.7M | 6.4% |
| Mersana Therapeutics Inc | Exited | −346,545 | −$10M | — |
| Disc Medicine Inc | New | +141,234 | +$9.03M | 0.8% |
| Tango Therapeutics Inc | Exited | −653,493 | −$5.79M | — |
| Xilio Therapeutics Inc | New | +664,021 | +$5.58M | 0.5% |
Showing the 10 largest of 15 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cidara Therapeutics Inc | Exited | −3,020,990 | −$289M | — |
| NP Newamsterdam Pharma Company | Trimmed | −3,412,544 | −$120M | 19.6% |
| Olema Pharmaceuticals Inc | Added | +1,664,687 | +$41.6M | 16.3% |
| Upstream Bio Inc | Trimmed | −1,109,994 | −$30.1M | 2.8% |
| DT Dianthus Therapeutics Inc | Trimmed | −572,300 | −$23.6M | 2.3% |
| X4 Pharmaceuticals Inc | Added | +5,530,866 | +$22.1M | 2.4% |
| Tango Therapeutics Inc | Trimmed | −2,058,515 | −$18.2M | 0.4% |
| C4 Therapeutics Inc | Added | +6,060,000 | +$11.6M | 1.0% |
| Pharvaris N V | Trimmed | −379,194 | −$10.5M | 6.0% |
| Kyverna Therapeutics Inc | Trimmed | −258,370 | −$2.43M | 2.2% |
Showing the 10 largest of 13 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Heartflow Inc | New | +12,448,158 | +$419M | 27.8% |
| Nuvalent Inc | Exited | −1,447,267 | −$110M | — |
| Cidara Therapeutics Inc | Added | +520,310 | +$49.8M | 19.2% |
| DT Dianthus Therapeutics Inc | Trimmed | −1,166,358 | −$45.9M | 3.4% |
| Disc Medicine Inc | Exited | −583,500 | −$30.9M | — |
| X4 Pharmaceuticals Inc | Added | +1,872,729 | +$6.4M | 0.6% |
| Pharvaris N V | Trimmed | −122,106 | −$3.05M | 5.3% |
| Mersana Therapeutics Inc | New | +346,545 | +$2.69M | 0.2% |
| Mersana Therapeutics Inc | Exited | −8,663,673 | −$2.56M | — |
| Invivyd Inc | Exited | −1,799,595 | −$1.29M | — |
Showing the 10 largest of 11 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cidara Therapeutics Inc | Added | +1,797,600 | +$87.6M | 15.2% |
| Disc Medicine Inc | Trimmed | −400,000 | −$21.2M | 3.9% |
| Cabaletta Bio Inc | Added | +6,916,237 | +$10.5M | 1.8% |
| X4 Pharmaceuticals Inc | Exited | −16,915,784 | −$4M | — |
| DT Dianthus Therapeutics Inc | Trimmed | −207,457 | −$3.86M | 5.8% |
| Upstream Bio Inc | Added | +144,216 | +$1.58M | 3.4% |
| X4 Pharmaceuticals Inc | New | +563,859 | +$1.07M | 0.1% |
| Nautilus Biotechnology Inc | Exited | −1,072,421 | −$923K | — |
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Solid Biosciences Inc | Added | +3,877,087 | +$14.3M | 4.3% |
| Savara Inc | Added | +3,035,164 | +$8.41M | 7.2% |
| Olema Pharmaceuticals Inc | Trimmed | −626,260 | −$2.35M | 3.8% |
| Marinus Pharmaceuticals Inc | Exited | −2,693,380 | −$1.44M | — |
| Syros Pharmaceuticals Inc | Exited | −2,750,151 | −$632K | — |
| Nautilus Biotechnology Inc | Trimmed | −686,579 | −$591K | 0.1% |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nuvalent Inc | Trimmed | −1,250,000 | −$97.9M | 13.3% |
| Disc Medicine Inc | Trimmed | −812,235 | −$51.5M | 7.3% |
| Olema Pharmaceuticals Inc | New | +7,470,214 | +$43.6M | 5.1% |
| Upstream Bio Inc | New | +2,295,322 | +$37.7M | 4.4% |
| Annexon Inc | Trimmed | −3,200,679 | −$16.4M | 3.2% |
| DT Dianthus Therapeutics Inc | Trimmed | −323,716 | −$7.06M | 6.9% |
| NP Newamsterdam Pharma Company | Added | +245,197 | +$6.3M | 32.4% |
| Nautilus Biotechnology Inc | Trimmed | −241,000 | −$405K | 0.3% |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arcutis Biotherapeutics Inc | Exited | −1,030,703 | −$9.59M | — |
| Cidara Therapeutics Inc | New | +703,080 | +$7.56M | 0.8% |
| Cabaletta Bio Inc | Added | +1,110,924 | +$5.24M | 1.4% |
| Tango Therapeutics Inc | Trimmed | −180,655 | −$1.39M | 2.2% |
| Aclaris Therapeutics Inc | Exited | −1,000,000 | −$1.1M | — |
| Marinus Pharmaceuticals Inc | Added | +425,700 | +$749K | 0.5% |
| Xilio Therapeutics Inc | Added | +781,367 | +$615K | 0.4% |
| Annexon Inc | Added | +540 | +$3.2K | 5.2% |
| Syros Pharmaceuticals Inc | Added | +343 | +$737 | 0.6% |
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