Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (19 quarters reported)
$1.42B in Q4 2021 → $6.87B 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 |
|---|---|---|---|---|
| Guardant Health Inc | 7.4% | Added 1.6% | 3,393,312 | $509M |
| Immunovant Inc | 5.2% | Trimmed 19% | 9,341,151 | $360M |
| Structure Therapeutics Inc | 3.7% | Added 11% | 4,740,072 | $254M |
| Vaxcyte Inc | 3.6% | Unchanged | 4,300,000 | $250M |
| Alnylam Pharmaceuticals Inc | 3.6% | New | 825,000 | $248M |
| Veradermics Inc | 3.6% | Added 300% | 2,000,000 | $246M |
| Tarsus Pharmaceuticals Inc | 3.4% | Added 1.9% | 3,666,768 | $231M |
| Nuvalent Inc | 3.2% | Added 30% | 1,783,322 | $220M |
| Alkermes PLC | 3.1% | Added 11% | 4,000,000 | $210M |
| Ocular Therapeutix Inc | 2.8% | Unchanged | 19,686,282 | $193M |
| Biomarin Pharmaceutical Inc | 2.8% | Added 188% | 3,307,481 | $189M |
| Nurix Therapeutics Inc | 2.7% | Added 22% | 7,736,455 | $188M |
| Oruka Therapeutics Inc | 2.7% | Trimmed 5.3% | 1,926,000 | $183M |
| Alumis Inc | 2.6% | Trimmed 6.3% | 6,348,558 | $179M |
| Ionis Pharmaceuticals Inc | 2.5% | Added 13% | 2,200,000 | $174M |
| Compass Pathways PLC | 2.5% | Unchanged | 12,161,496 | $172M |
| Vera Therapeutics Inc | 2.5% | Trimmed 2.6% | 4,000,000 | $172M |
| Axsome Therapeutics Inc. | 2.5% | Trimmed 36% | 700,000 | $171M |
| Genmab A/s | 2.3% | Added 54% | 5,650,000 | $155M |
| Moonlake Immunotherapeutics | 2.0% | Added 9.2% | 6,999,025 | $136M |
| HT Hemab Therapeutics Hldgs Inc | 1.9% | New | 3,602,093 | $132M |
| Tango Therapeutics Inc | 1.9% | Added 53% | 4,200,000 | $131M |
| Definium Therapeutics Inc | 1.9% | Trimmed 8.3% | 2,750,000 | $129M |
| Grail Inc | 1.8% | Added 6.5% | 1,834,944 | $125M |
| Bicara Therapeutics Inc | 1.8% | Added 0.9% | 4,100,000 | $122M |
| Maze Therapeutics Inc | 1.6% | Added 7.3% | 3,732,569 | $111M |
| CT Celldex Therapeutics Inc New | 1.6% | Added 129% | 2,939,151 | $109M |
| Lb Pharmaceuticals Inc | 1.6% | Unchanged | 3,352,804 | $109M |
| Mbx Biosciences Inc | 1.4% | Trimmed 37% | 1,732,569 | $95.6M |
| Gh Research PLC | 1.3% | New | 3,333,334 | $89.6M |
| Genmab A/s Call | 1.2% | New | 3,000,000 | $82.4M |
| Cogent Biosciences Inc | 1.1% | Added 100% | 2,000,000 | $77.4M |
| Ataibeckley Inc | 1.1% | Added 20% | 14,417,442 | $76M |
| UT United Therapeutics Corp Del | 1.0% | New | 123,616 | $67M |
| Avalo Therapeutics Inc | 1.0% | New | 3,610,000 | $66.7M |
| Viridian Therapeutics Inc | 1.0% | Added 158% | 3,592,740 | $66M |
| Cytokinetics Inc | 0.9% | Trimmed 49% | 700,000 | $59.6M |
| Altimmune Inc | 0.9% | New | 19,250,000 | $58.5M |
| Personalis Inc | 0.8% | Added 33% | 4,000,000 | $53.6M |
| Aclaris Therapeutics Inc | 0.7% | Unchanged | 9,345,000 | $49.4M |
| Cormedix Inc | 0.7% | Unchanged | 6,274,076 | $49.3M |
| Genedx Holdings Corp | 0.7% | New | 700,000 | $48.1M |
| Harrow Inc | 0.6% | New | 969,000 | $41.2M |
| Corvus Pharmaceuticals Inc | 0.5% | Added 0.0% | 2,491,939 | $37.2M |
| Solid Biosciences Inc | 0.5% | Unchanged | 3,565,062 | $35.6M |
| Beam Therapeutics Inc | 0.5% | Added 22% | 1,000,000 | $34.3M |
| Dyne Therapeutics Inc | 0.5% | Trimmed 25% | 1,500,000 | $33.3M |
| Immix Biopharma Inc | 0.4% | New | 2,775,000 | $28.6M |
| X4 Pharmaceuticals Inc | 0.4% | Trimmed 7.3% | 5,878,757 | $27.5M |
| Shattuck Labs Inc | 0.4% | New | 3,706,734 | $25.7M |
| Mannkind Corp | 0.4% | New | 6,000,000 | $25.6M |
| Century Therapeutics Inc | 0.3% | Trimmed 0.3% | 9,462,645 | $23.2M |
| Generate Biomedicines Inc | 0.3% | New | 1,333,815 | $22.5M |
| Verastem Inc | 0.3% | Unchanged | 5,740,850 | $21.9M |
| Kura Oncology Inc | 0.3% | Trimmed 25% | 1,978,565 | $21.7M |
| Enanta Pharmaceuticals Inc | 0.3% | Trimmed 26% | 1,444,167 | $21.1M |
| Nektar Therapeutics | 0.3% | New | 300,000 | $20.9M |
| Olema Pharmaceuticals Inc | 0.3% | New | 1,500,000 | $18.8M |
| Kailera Therapeutics Inc | 0.2% | New | 700,000 | $15.4M |
| K Kardigan Inc | 0.2% | New | 600,000 | $14.3M |
Showing top 60 of 67 positions.
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 |
|---|---|---|---|---|
| SS SPDR Series Trust | Exited | −10,000,000 | −$1.28B | — |
| Alnylam Pharmaceuticals Inc | New | +825,000 | +$248M | 3.6% |
| Veradermics Inc | Added | +1,500,000 | +$184M | 3.6% |
| Apellis Pharmaceuticals Inc | Exited | −4,532,374 | −$182M | — |
| HT Hemab Therapeutics Hldgs Inc | New | +3,602,093 | +$132M | 1.9% |
| Centessa Pharmaceuticals PLC | Exited | −3,158,041 | −$125M | — |
| Biomarin Pharmaceutical Inc | Added | +2,157,481 | +$123M | 2.8% |
| Axsome Therapeutics Inc. | Trimmed | −400,000 | −$97.9M | 2.5% |
| Gh Research PLC | New | +3,333,334 | +$89.6M | 1.3% |
| Immunovant Inc | Trimmed | −2,185,820 | −$84.2M | 5.2% |
Showing the 10 largest of 71 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dynavax Technologies Corp | Exited | −15,726,349 | −$242M | — |
| Alumis Inc | New | +6,772,595 | +$149M | 2.4% |
| Nuvalent Inc | New | +1,376,324 | +$141M | 2.3% |
| Apellis Pharmaceuticals Inc | Trimmed | −3,217,626 | −$129M | 3.0% |
| Cytokinetics Inc | Trimmed | −1,962,678 | −$129M | 1.5% |
| Ocular Therapeutix Inc | Added | +11,615,868 | +$98.4M | 2.7% |
| Genmab A/s | New | +3,663,250 | +$98.3M | 1.6% |
| Biomarin Pharmaceutical Inc | Trimmed | −1,150,000 | −$65M | 1.1% |
| Definium Therapeutics Inc | New | +3,000,000 | +$56.7M | 0.9% |
| Alkermes PLC | Added | +1,590,323 | +$56.2M | 2.1% |
Showing the 10 largest of 61 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Series Trust | New | +10,000,000 | +$1.22B | 21.7% |
| Terns Pharmaceuticals Inc | Trimmed | −6,725,952 | −$272M | 0.6% |
| Akero Therapeutics Inc | Exited | −4,000,978 | −$190M | — |
| Ionis Pharmaceuticals Inc | Trimmed | −2,108,144 | −$167M | 2.4% |
| Vera Therapeutics Inc | New | +2,821,135 | +$143M | 2.5% |
| Guardant Health Inc | Trimmed | −1,354,086 | −$138M | 5.1% |
| 89bio Inc | Exited | −9,356,171 | −$138M | — |
| Biomarin Pharmaceutical Inc | Added | +2,275,144 | +$135M | 2.4% |
| Protagonist Therapeutics Inc | Exited | −1,715,691 | −$114M | — |
| Viridian Therapeutics Inc | Trimmed | −2,855,616 | −$88.9M | 1.4% |
Showing the 10 largest of 68 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Insmed Inc | Exited | −1,750,000 | −$176M | — |
| Protagonist Therapeutics Inc | Trimmed | −1,530,208 | −$102M | 3.2% |
| Tarsus Pharmaceuticals Inc | Added | +1,250,000 | +$74.3M | 5.0% |
| Ionis Pharmaceuticals Inc | Trimmed | −1,083,400 | −$70.9M | 7.0% |
| Exact Sciences Corp | New | +1,000,000 | +$54.7M | 1.5% |
| Lb Pharmaceuticals Inc | New | +3,352,804 | +$52.9M | 1.5% |
| UP Ultragenyx Pharmaceutical In | Exited | −1,350,000 | −$49.1M | — |
| Akero Therapeutics Inc | Added | +958,380 | +$45.5M | 5.3% |
| Dianthus Therapeutics Inc | Exited | −2,233,148 | −$41.6M | — |
| Cytokinetics Inc | Added | +650,000 | +$35.7M | 6.6% |
Showing the 10 largest of 67 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| IT Intra-cellular Therapies Inc | Exited | −2,000,000 | −$264M | — |
| Insmed Inc | Added | +1,495,249 | +$150M | 5.6% |
| Axsome Therapeutics Inc | New | +801,371 | +$83.7M | 2.7% |
| Bridgebio Pharma Inc | Trimmed | −1,900,000 | −$82M | 1.2% |
| Guardant Health Inc | Trimmed | −1,193,721 | −$62.1M | 7.1% |
| Vaxcyte Inc | Added | +1,400,000 | +$45.5M | 2.2% |
| Amgen Inc | Exited | −113,035 | −$35.2M | — |
| Apellis Pharmaceuticals Inc | Added | +2,000,000 | +$34.6M | 3.9% |
| Edgewise Therapeutics Inc | Exited | −1,400,000 | −$30.8M | — |
| Jade Biosciences Inc | New | +2,509,301 | +$25.1M | 0.8% |
Showing the 10 largest of 57 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Springworks Therapeutics Inc | Exited | −3,460,756 | −$125M | — |
| Protagonist Therapeutics Inc | Added | +2,000,000 | +$96.7M | 4.7% |
| Ionis Pharmaceuticals Inc | Added | +2,630,279 | +$79.4M | 4.5% |
| Tarsus Pharmaceuticals Inc | New | +1,484,266 | +$76.2M | 2.5% |
| Akero Therapeutics Inc | Added | +1,720,270 | +$69.6M | 4.2% |
| Bridgebio Pharma Inc | Added | +1,980,838 | +$68.5M | 3.1% |
| Immunovant Inc | Added | +3,500,000 | +$59.8M | 5.3% |
| Sarepta Therapeutics Inc | New | +899,731 | +$57.4M | 1.9% |
| Geron Corp | Added | +34,164,964 | +$54.3M | 2.0% |
| HB Harmony Biosciences Hldgs In | Exited | −1,450,000 | −$49.9M | — |
Showing the 10 largest of 59 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Argenx Se | Exited | −365,000 | −$198M | — |
| Verona Pharma PLC | Trimmed | −2,330,025 | −$108M | 1.5% |
| Intellia Therapeutics Inc | Exited | −4,950,000 | −$102M | — |
| Alkermes PLC | Exited | −3,500,000 | −$98M | — |
| Cytokinetics Inc | Added | +1,870,094 | +$88M | 4.4% |
| Axsome Therapeutics Inc | Exited | −857,219 | −$77M | — |
| Dynavax Technologies Corp | Added | +5,265,000 | +$67.2M | 8.5% |
| Apogee Therapeutics Inc | Exited | −1,000,000 | −$58.7M | — |
| HB Harmony Biosciences Hldgs In | New | +1,450,000 | +$49.9M | 1.9% |
| Septerna Inc | New | +1,912,929 | +$43.8M | 1.6% |
Showing the 10 largest of 76 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Amgen Inc | Exited | −575,000 | −$180M | — |
| Insmed Inc | Exited | −2,000,000 | −$134M | — |
| Alnylam Pharmaceuticals Inc | Exited | −500,000 | −$122M | — |
| Travere Therapeutics Inc | Trimmed | −6,838,143 | −$95.7M | 0.2% |
| Axsome Therapeutics Inc | Trimmed | −995,565 | −$89.5M | 2.4% |
| Mbx Biosciences Inc | New | +3,018,935 | +$78.4M | 2.5% |
| Apellis Pharmaceuticals Inc | Added | +1,900,654 | +$54.8M | 4.0% |
| Kymera Therapeutics Inc | Trimmed | −899,674 | −$42.6M | 0.9% |
| Immunovant Inc | Added | +1,463,728 | +$41.7M | 3.9% |
| Guardant Health Inc | Added | +1,500,560 | +$34.4M | 4.4% |
Showing the 10 largest of 65 changes.
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