Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (11 quarters reported)
$358M in Q4 2023 → $732M 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 |
|---|---|---|---|---|
| Cg Oncology Inc | 61.9% | Unchanged | 6,371,669 | $453M |
| Nuvation Bio Inc. | 20.1% | Unchanged | 25,954,439 | $147M |
| Aardvark Therapeutics Inc | 3.1% | Unchanged | 3,917,299 | $22.6M |
| Aclaris Therapeutics, Inc. | 2.9% | Unchanged | 4,041,736 | $21.4M |
| Upstream Bio Inc. | 2.6% | Unchanged | 2,724,868 | $18.9M |
| Arcus Biosciences, Inc | 2.0% | Trimmed 2.7% | 464,779 | $14.3M |
| Equillium Inc. | 1.9% | Unchanged | 4,447,308 | $14.2M |
| RM Revolution Medicines Inc(nsm) | 1.3% | Trimmed 44% | 52,667 | $9.86M |
| Lyell Immunopharma, Inc. | 1.3% | Unchanged | 692,050 | $9.72M |
| Beyondspring Inc. | 0.9% | Unchanged | 3,800,702 | $6.65M |
| Zentalis Pharmaceuticals Inc. | 0.9% | Unchanged | 1,323,327 | $6.42M |
| NP Newamsterdam Pharma Co Nv | 0.8% | Trimmed 46% | 176,887 | $5.99M |
| PO Pyxis Oncology, Inc (formerly Apexigen) | 0.1% | Unchanged | 326,810 | $984K |
| Tango Therapeutics Inc | 0.1% | New | 20,000 | $625K |
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 |
|---|---|---|---|---|
| RM Revolution Medicines Inc(nsm) | Trimmed | −40,833 | −$7.65M | 1.3% |
| NP Newamsterdam Pharma Co Nv | Trimmed | −148,170 | −$5.02M | 0.8% |
| Krystal Biotech Inc | Exited | −7,300 | −$1.89M | — |
| Tango Therapeutics Inc | New | +20,000 | +$625K | 0.1% |
| Arcus Biosciences, Inc | Trimmed | −13,040 | −$402K | 2.0% |
quarter ended March 31, 2026 · filed May 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RM Revolution Medicines Inc(nsm) | Trimmed | −106,500 | −$10.4M | 1.4% |
| NP Newamsterdam Pharma Co Nv | Trimmed | −267,000 | −$8.55M | 1.6% |
| CP Crinetics Pharmaceuticals In | Exited | −92,700 | −$4.32M | — |
| Upstream Bio Inc. | Trimmed | −418,210 | −$3.76M | 3.7% |
| Krystal Biotech Inc | Trimmed | −10,000 | −$2.58M | 0.3% |
| Aura Biosciences, Inc. | Exited | −360,483 | −$1.96M | — |
| Arcus Biosciences, Inc | Trimmed | −63,740 | −$1.38M | 1.6% |
| 4M 4d Molecular Therapeutics In | Exited | −44,311 | −$332K | — |
| Nuvation Bio Inc. | Exited | −646,057 | −$213K | — |
| Rezolute Inc | Exited | −59,900 | −$141K | — |
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MN Merus Nv | Exited | −186,546 | −$17.6M | — |
| Upstream Bio Inc. | Trimmed | −142,215 | −$3.86M | 11.5% |
| Krystal Biotech Inc | Trimmed | −15,000 | −$3.7M | 0.6% |
| Lyell Immunopharma, Inc. | Added | +96,584 | +$2.97M | 2.9% |
| CP Crinetics Pharmaceuticals In | Trimmed | −50,300 | −$2.34M | 0.6% |
| NP Newamsterdam Pharma Co Nv | Trimmed | −64,994 | −$2.28M | 2.8% |
| Moonlake Immunotherapeutics | Exited | −181,600 | −$1.3M | — |
| Aura Biosciences, Inc. | Trimmed | −155,072 | −$845K | 0.3% |
| RM Revolution Medicines Inc(nsm) | Trimmed | −10,000 | −$797K | 2.1% |
| Beyondspring Inc. | Trimmed | −485,402 | −$791K | 0.8% |
Showing the 10 largest of 14 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Krystal Biotech Inc | Trimmed | −33,700 | −$5.95M | 1.0% |
| Arcus Biosciences, Inc | Added | +387,609 | +$5.27M | 1.3% |
| Arcellx Inc | Exited | −547,609 | −$4.46M | — |
| NP Newamsterdam Pharma Co Nv | Trimmed | −112,949 | −$3.21M | 3.3% |
| 4M 4d Molecular Therapeutics In | Trimmed | −146,762 | −$1.28M | 0.1% |
| RM Revolution Medicines Inc(nsm) | Trimmed | −16,000 | −$747K | 1.7% |
| LB Legend Biotech Corp-adr | Exited | −20,000 | −$710K | — |
| Beyondspring Inc. | Trimmed | −245,377 | −$444K | 1.4% |
| MN Merus Nv | Trimmed | −2,552 | −$240K | 3.1% |
quarter ended June 30, 2025 · filed August 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lyell Immunopharma, Inc. | Trimmed | −11,313,875 | −$100M | 1.3% |
| Arcellx Inc | Added | +497,609 | +$4.05M | 1.1% |
| Cytokinetics Inc | Exited | −100,000 | −$4.02M | — |
| Arcus Biosciences, Inc | Trimmed | −648,789 | −$3.29M | 0.2% |
| LB Legend Biotech Corp-adr | Trimmed | −80,000 | −$2.84M | 0.2% |
| BS Biontech Se-adr | Exited | −20,000 | −$1.82M | — |
| CP Crinetics Pharmaceuticals In | Trimmed | −34,958 | −$1.01M | 1.0% |
| Beyondspring Inc. | Trimmed | −351,170 | −$825K | 2.7% |
| Zentalis Pharmaceuticals Inc. | Trimmed | −696,435 | −$808K | 0.4% |
| Moonlake Immunotherapeutics | Added | +10,000 | +$472K | 2.2% |
Showing the 10 largest of 15 changes.
quarter ended March 31, 2025 · filed May 08, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Aardvark Therapeutics Inc | New | +3,917,299 | +$29.4M | 8.3% |
| I Illumnia, Inc. | Trimmed | −83,018 | −$6.59M | 0.3% |
| Phathom Pharmaceuticals Inc | Exited | −694,254 | −$5.64M | — |
| Aclaris Therapeutics, Inc. | Added | +1,775,069 | +$2.72M | 1.7% |
| Arcellx Inc | Trimmed | −34,377 | −$2.26M | 0.9% |
| Krystal Biotech Inc | Trimmed | −11,772 | −$2.12M | 3.3% |
| BS Biontech Se-adr | Trimmed | −20,000 | −$1.82M | 0.5% |
| LB Legend Biotech Corp-adr | Trimmed | −53,558 | −$1.82M | 1.0% |
| Vera Therapeutics Inc | Trimmed | −45,272 | −$1.09M | — |
| Atricure Inc. | Exited | −26,797 | −$819K | — |
Showing the 10 largest of 13 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Upstream Bio Inc. | New | +3,285,293 | +$54M | 11.6% |
| Cg Oncology Inc | Added | +892,859 | +$25.6M | 39.2% |
| RM Revolution Medicines Inc(nsm) | Added | +224,000 | +$9.8M | 2.1% |
| Lyell Immunopharma, Inc. | New | +11,909,341 | +$7.62M | 1.6% |
| Aclaris Therapeutics, Inc. | New | +2,266,667 | +$5.62M | 1.2% |
| Arcellx Inc | Added | +63,200 | +$4.85M | 1.4% |
| NP Newamsterdam Pharma Co Nv | Added | +180,000 | +$4.63M | 4.2% |
| BS Biontech Se-adr | New | +40,000 | +$4.56M | 1.0% |
| Phathom Pharmaceuticals Inc | Trimmed | −555,746 | −$4.51M | 1.2% |
| Genedx Holdings Corp. | Exited | −103,604 | −$4.4M | — |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2024 · filed November 15, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nuvation Bio Inc. | Added | +19,004,200 | +$43.5M | 14.1% |
| Phathom Pharmaceuticals Inc | Added | +400,000 | +$7.23M | 5.4% |
| NP Newamsterdam Pharma Co Nv | Added | +190,000 | +$3.15M | 2.3% |
| LP Longboard Pharmaceuticals In | New | +56,350 | +$1.88M | 0.4% |
| I Illumnia, Inc. | Trimmed | −14,000 | −$1.83M | 2.9% |
| Arcellx Inc | Added | +20,000 | +$1.67M | 0.4% |
| Krystal Biotech Inc | Added | +6,000 | +$1.09M | 3.1% |
| Cg Oncology Inc | Added | +20,000 | +$755K | 49.0% |
| 4M 4d Molecular Therapeutics In | Added | +50,000 | +$541K | 1.0% |
| MN Merus Nv | Added | +10,000 | +$500K | 2.2% |
Showing the 10 largest of 14 changes.
Loading...
