Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$617M in Q4 2019 → $928M 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 |
|---|---|---|---|---|
| SS SPDR Series Trust Put | 5.1% | Trimmed 63% | 300,000 | $47.5M |
| Abivax Sa Call | 4.9% | Added 16% | 341,100 | $45.5M |
| Abivax Sa | 4.7% | Added 470% | 328,635 | $43.4M |
| Kodiak Sciences Inc | 4.4% | Trimmed 16% | 1,059,730 | $41.3M |
| Abivax Sa Put | 3.6% | New | 250,000 | $33.3M |
| Ionis Pharmaceuticals Inc Call | 3.4% | Added 257% | 400,000 | $31.7M |
| Moderna Inc Put | 3.0% | New | 400,000 | $28M |
| Alumis Inc | 2.6% | Trimmed 28% | 870,548 | $24.5M |
| PP Praxis Precision Medicines I | 2.6% | Added 1.8% | 72,842 | $24.4M |
| Ionis Pharmaceuticals Inc Put | 2.6% | New | 300,000 | $23.8M |
| Vaxcyte Inc | 2.4% | Trimmed 9.3% | 388,682 | $22.6M |
| Ani Pharmaceuticals Inc | 2.4% | Added 85% | 272,085 | $22.5M |
| CT Celldex Therapeutics Inc New | 1.9% | Added 3.7% | 478,500 | $17.8M |
| Arcus Biosciences Inc | 1.7% | New | 504,559 | $15.6M |
| Relmada Therapeutics Inc | 1.6% | Trimmed 20% | 2,148,359 | $14.9M |
| Capricor Therapeutics Inc | 1.6% | Added 14% | 604,215 | $14.5M |
| Cogent Biosciences Inc | 1.5% | New | 370,084 | $14.3M |
| NP Newamsterdam Pharma Company Put | 1.5% | New | 400,000 | $13.6M |
| Vera Therapeutics Inc | 1.4% | Added 55% | 310,000 | $13.3M |
| Contineum Therapeutics Inc | 1.4% | Unchanged | 807,874 | $13.2M |
| Tenax Therapeutics Inc | 1.2% | Trimmed 23% | 787,600 | $11.5M |
| C4 Therapeutics Inc | 1.2% | New | 2,433,000 | $11.4M |
| Maze Therapeutics Inc | 1.2% | Unchanged | 378,999 | $11.3M |
| Biohaven Ltd | 1.2% | Added 81% | 748,181 | $11.1M |
| CB Connect Biopharma Hldgs Ltd | 1.2% | Trimmed 16% | 4,538,534 | $10.8M |
| Alto Neuroscience Inc | 1.2% | Trimmed 21% | 407,338 | $10.7M |
| Pharvaris N V | 1.2% | Trimmed 37% | 308,856 | $10.7M |
| Alumis Inc Call | 1.1% | Added 35% | 356,300 | $10M |
| Jade Biosciences Inc | 1.0% | Trimmed 17% | 427,349 | $9.5M |
| Damora Therapeutics Inc | 0.9% | Unchanged | 335,710 | $8.73M |
| Kodiak Sciences Inc Call | 0.9% | Added 118% | 217,700 | $8.48M |
| Capricor Therapeutics Inc Call | 0.9% | Unchanged | 350,000 | $8.43M |
| AP Arrowhead Pharmaceuticals In Put | 0.9% | Added 74% | 100,000 | $8.15M |
| VT Viridian Therapeutics Inc | 0.8% | New | 425,000 | $7.81M |
| Pelthos Therapeutics Inc | 0.8% | Unchanged | 256,598 | $7.25M |
| Zura Bio Ltd | 0.8% | Added 2.1% | 1,218,492 | $7.19M |
| Tectonic Therapeutic Inc | 0.8% | Added 31% | 205,837 | $7.08M |
| PP Praxis Precision Medicines I Call | 0.7% | New | 20,000 | $6.7M |
| Spruce Biosciences Inc | 0.7% | Unchanged | 121,356 | $6.55M |
| Hims & Hers Health Inc | 0.7% | New | 188,381 | $6.53M |
| Enliven Therapeutics Inc | 0.7% | New | 126,541 | $6.42M |
| PT Proqr Thrapeutics N V | 0.7% | Added 130% | 3,425,930 | $6.37M |
| Bright Minds Biosciences Inc | 0.7% | Trimmed 47% | 88,951 | $6.24M |
| Ovid Therapeutics Inc | 0.7% | Trimmed 22% | 2,269,704 | $6.11M |
| Ocugen Inc | 0.7% | Unchanged | 3,962,972 | $6.06M |
| Alpha Cognition Inc | 0.7% | Trimmed 21% | 836,259 | $6.04M |
| Kymera Therapeutics Inc Put | 0.6% | Unchanged | 50,400 | $5.78M |
| Harrow Inc | 0.6% | Trimmed 75% | 135,775 | $5.77M |
| Kazia Therapeutics Ltd | 0.6% | New | 396,201 | $5.58M |
| UP Ultragenyx Pharmaceutical In | 0.6% | Trimmed 66% | 165,617 | $5.53M |
| Q32 Bio Inc | 0.6% | New | 430,000 | $5.48M |
| Tenax Therapeutics Inc Call | 0.6% | Added 226% | 373,100 | $5.43M |
| Eupraxia Pharmaceuticals Inc | 0.6% | Trimmed 33% | 809,741 | $5.35M |
| Eyepoint Inc Call | 0.6% | Unchanged | 370,400 | $5.3M |
| Eyepoint Inc Put | 0.6% | Unchanged | 370,400 | $5.3M |
| SL Sellas Life Sciences Group I Put | 0.6% | New | 354,700 | $5.24M |
| Bioage Labs Inc | 0.5% | New | 200,000 | $4.9M |
| Rezolute Inc | 0.5% | Added 5574% | 935,012 | $4.86M |
| Olema Pharmaceuticals Inc | 0.5% | Trimmed 36% | 383,281 | $4.79M |
| Sionna Therapeutics Inc Put | 0.5% | New | 107,500 | $4.73M |
Showing top 60 of 156 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 | Trimmed | −500,000 | −$79.1M | 5.1% |
| Terns Pharmaceuticals Inc | Exited | −1,456,378 | −$76.8M | — |
| Terns Pharmaceuticals Inc | Exited | −1,200,000 | −$63.3M | — |
| IQ Invesco Qqq Tr | Exited | −100,000 | −$57.7M | — |
| IT Ishares Tr | Exited | −200,000 | −$49.6M | — |
| Cytokinetics Inc | Exited | −550,500 | −$36.3M | — |
| Abivax Sa | Added | +271,000 | +$35.7M | 4.7% |
| Abivax Sa | New | +250,000 | +$33.3M | 3.6% |
| Moderna Inc | New | +400,000 | +$28M | 3.0% |
| Cytokinetics Inc | Exited | −408,400 | −$26.9M | — |
Showing the 10 largest of 144 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cidara Therapeutics Inc | Exited | −300,000 | −$66.3M | — |
| Amgen Inc | Exited | −200,000 | −$65.5M | — |
| Terns Pharmaceuticals Inc | New | +1,200,000 | +$63.3M | 5.1% |
| Cidara Therapeutics Inc | Exited | −273,243 | −$60.4M | — |
| IQ Invesco Qqq Tr | New | +100,000 | +$57.7M | 4.7% |
| IT Ishares Tr | New | +200,000 | +$49.6M | 4.0% |
| Cytokinetics Inc | New | +550,500 | +$36.3M | 2.9% |
| Bristol-myers Squibb Co | New | +500,000 | +$30.3M | 2.5% |
| Jazz Pharmaceuticals PLC | Exited | −170,000 | −$28.9M | — |
| Jazz Pharmaceuticals PLC | Trimmed | −147,907 | −$28M | 0.2% |
Showing the 10 largest of 149 changes.
quarter ended December 31, 2025 · filed February 18, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| UT United Therapeutics Corp Del | Exited | −209,800 | −$88M | — |
| Cidara Therapeutics Inc | New | +300,000 | +$66.3M | 5.2% |
| Amgen Inc | New | +200,000 | +$65.5M | 5.1% |
| Terns Pharmaceuticals Inc | Added | +1,432,176 | +$57.9M | 5.0% |
| Genmab A/s | Exited | −175,000 | −$53M | — |
| Bristol-myers Squibb Co | Exited | −800,000 | −$36.1M | — |
| Abivax Sa | Trimmed | −190,113 | −$26.9M | 2.3% |
| SR Scholar Rock Hldg Corp | Exited | −561,600 | −$20.9M | — |
| Olema Pharmaceuticals Inc | New | +758,654 | +$19M | 1.5% |
| CP Crinetics Pharmaceuticals In | New | +368,500 | +$17.2M | 1.3% |
Showing the 10 largest of 231 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| UT United Therapeutics Corp Del | New | +209,800 | +$88M | 8.9% |
| SS SPDR Series Trust | New | +750,000 | +$75.2M | 7.6% |
| Genmab A/s | New | +175,000 | +$53M | 5.4% |
| Bristol-myers Squibb Co | New | +800,000 | +$36.1M | 3.6% |
| Abivax Sa | New | +396,098 | +$33.4M | 3.4% |
| Ionis Pharmaceuticals Inc | New | +415,163 | +$27.2M | 2.7% |
| Cidara Therapeutics Inc | Exited | −501,600 | −$24.4M | — |
| Insmed Inc | Trimmed | −150,000 | −$21.6M | 0.2% |
| UP Ultragenyx Pharmaceutical In | Exited | −563,100 | −$20.5M | — |
| Alnylam Pharmaceuticals Inc | Exited | −56,594 | −$18.5M | — |
Showing the 10 largest of 176 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | Exited | −320,000 | −$179M | — |
| Eli Lilly & Co | Exited | −150,000 | −$124M | — |
| Corcept Therapeutics Inc | Exited | −287,900 | −$32.9M | — |
| Cidara Therapeutics Inc | New | +501,600 | +$24.4M | 4.7% |
| Bridgebio Pharma Inc | Exited | −655,400 | −$22.7M | — |
| UP Ultragenyx Pharmaceutical In | Added | +450,000 | +$16.4M | 3.9% |
| Cidara Therapeutics Inc | New | +321,000 | +$15.6M | 3.0% |
| SS SPDR S&P 500 ETF Tr | Exited | −25,000 | −$14M | — |
| Capricor Therapeutics Inc | New | +1,360,200 | +$13.5M | 2.6% |
| Tarsus Pharmaceuticals Inc | Trimmed | −288,485 | −$11.7M | 1.5% |
Showing the 10 largest of 160 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF Tr | New | +320,000 | +$179M | 22.1% |
| Eli Lilly & Co | New | +150,000 | +$124M | 15.3% |
| SS SPDR Ser Tr | Exited | −750,000 | −$67.5M | — |
| SS SPDR Ser Tr | Exited | −700,000 | −$63M | — |
| Tyson Foods Inc | Exited | −630,000 | −$36.2M | — |
| Corcept Therapeutics Inc | New | +287,900 | +$32.9M | 4.1% |
| Amgen Inc | Exited | −74,000 | −$19.3M | — |
| Soleno Therapeutics Inc | New | +243,000 | +$17.4M | 2.1% |
| SS SPDR S&P 500 ETF Tr | New | +25,000 | +$14M | 1.7% |
| Pilgrims Pride Corp | Exited | −300,000 | −$13.6M | — |
Showing the 10 largest of 192 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Ser Tr | New | +700,000 | +$63M | 8.6% |
| Vertex Pharmaceuticals Inc | Exited | −100,000 | −$46.5M | — |
| Vertex Pharmaceuticals Inc | Exited | −100,000 | −$46.5M | — |
| Tyson Foods Inc | New | +630,000 | +$36.2M | 4.9% |
| Tarsus Pharmaceuticals Inc | Trimmed | −422,588 | −$23.4M | 4.6% |
| SS SPDR Ser Tr | Added | +250,000 | +$22.5M | 9.2% |
| Bridgebio Pharma Inc | New | +700,000 | +$19.2M | 2.6% |
| Amgen Inc | Trimmed | −72,000 | −$18.8M | 2.6% |
| Janux Therapeutics Inc | Exited | −365,200 | −$16.6M | — |
| Biohaven Ltd | Exited | −325,600 | −$16.3M | — |
Showing the 10 largest of 209 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Ser Tr | New | +500,000 | +$49.4M | 6.9% |
| Amgen Inc | Added | +145,400 | +$46.8M | 6.6% |
| Vertex Pharmaceuticals Inc | New | +100,000 | +$46.5M | 6.5% |
| Vertex Pharmaceuticals Inc | New | +100,000 | +$46.5M | 6.5% |
| Alnylam Pharmaceuticals Inc | Exited | −1,500 | −$36.5M | — |
| Alnylam Pharmaceuticals Inc | Exited | −1,500 | −$36.5M | — |
| Insmed Inc | Exited | −5,070 | −$34M | — |
| Sarepta Therapeutics Inc | Trimmed | −149,436 | −$18.7M | 0.9% |
| PP Praxis Precision Medicines I | Exited | −4,225 | −$17.5M | — |
| Janux Therapeutics Inc | New | +365,200 | +$16.6M | 2.3% |
Showing the 10 largest of 138 changes.
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