Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$406M in Q4 2019 → $2.32B 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 |
|---|---|---|---|---|
| Erasca Inc | 9.6% | Added 9.0% | 12,150,000 | $223M |
| Abivax Sa | 5.9% | Added 52% | 1,024,000 | $136M |
| Revolution Medicines Inc | 5.6% | Trimmed 65% | 700,000 | $131M |
| Ideaya Biosciences Inc | 4.8% | Trimmed 13% | 3,000,000 | $112M |
| Biontech Se | 4.1% | New | 1,015,000 | $94.4M |
| Vera Therapeutics Inc | 4.1% | New | 2,200,000 | $94.4M |
| Tango Therapeutics Inc | 3.8% | Trimmed 5.0% | 2,850,000 | $89.1M |
| PP Praxis Precision Medicines I | 3.7% | Trimmed 8.8% | 260,000 | $87M |
| CT Celldex Therapeutics Inc New | 3.4% | Added 367% | 2,100,000 | $78.1M |
| Dianthus Therapeutics Inc | 3.4% | Added 100% | 800,000 | $78M |
| Cg Oncology Inc | 3.1% | Added 74% | 1,000,000 | $71.1M |
| Disc Medicine Inc | 2.8% | Added 56% | 875,000 | $64M |
| Maze Therapeutics Inc | 2.5% | Added 57% | 1,935,000 | $57.7M |
| Dyne Therapeutics Inc | 2.4% | Added 82% | 2,550,000 | $56.6M |
| Moonlake Immunotherapeutics | 2.2% | Added 78% | 2,675,000 | $52.1M |
| Ocular Therapeutix Inc | 2.2% | Added 38% | 5,300,000 | $52M |
| Design Therapeutics Inc | 1.9% | Added 54% | 3,000,000 | $43.4M |
| Olema Pharmaceuticals Inc | 1.7% | Unchanged | 3,208,875 | $40.1M |
| Belite Bio Inc | 1.7% | New | 250,000 | $38.5M |
| AL Achieve Life Science Inc | 1.5% | New | 5,425,000 | $35.4M |
| Trevi Therapeutics Inc | 1.5% | Trimmed 22% | 1,880,000 | $35.1M |
| Cogent Biosciences Inc | 1.5% | New | 900,000 | $34.8M |
| Arrivent Biopharma Inc | 1.5% | Added 186% | 1,000,000 | $34.7M |
| Crescent Biopharma Inc. | 1.5% | Added 294% | 1,900,000 | $34.2M |
| Compass Pathways PLC | 1.4% | New | 2,250,000 | $31.8M |
| Mineralys Therapeutics Inc | 1.2% | New | 1,050,000 | $28.3M |
| Replimune Group Inc | 1.2% | New | 2,500,000 | $27.7M |
| Xenon Pharmaceuticals Inc | 1.2% | Unchanged | 450,000 | $27.2M |
| Structure Therapeutics Inc | 1.2% | Unchanged | 500,000 | $26.8M |
| Immunovant Inc | 1.1% | Trimmed 38% | 665,000 | $25.6M |
| Jade Biosciences Inc | 1.1% | Added 181% | 1,125,000 | $25M |
| Enliven Therapeutics Inc | 1.0% | Trimmed 14% | 465,000 | $23.6M |
| Veradermics Inc | 1.0% | Added 620% | 180,000 | $22.1M |
| Avalo Therapeutics Inc | 0.9% | Added 283% | 1,150,000 | $21.3M |
| Arcus Biosciences Inc | 0.9% | Trimmed 46% | 650,000 | $20M |
| Summit Therapeutics Inc | 0.8% | New | 1,350,000 | $19.7M |
| IH Immunocore Hldgs PLC | 0.8% | Trimmed 60% | 600,000 | $19.1M |
| Lb Pharmaceuticals Inc | 0.8% | Trimmed 36% | 585,000 | $19M |
| Minerva Neurosciences Inc | 0.8% | Added 2.3% | 3,288,777 | $18.3M |
| Faeth Therapeutics Inc | 0.8% | Added 2307% | 722,020 | $18.1M |
| Crispr Therapeutics Ag | 0.7% | New | 300,000 | $16.4M |
| DT Dbv Technologies S A | 0.6% | New | 915,000 | $15M |
| PM Parabilis Medicines Inc | 0.6% | New | 525,000 | $14.4M |
| Rhythm Pharmaceuticals Inc | 0.6% | Trimmed 72% | 125,000 | $13.9M |
| Vor Biopharma Inc | 0.5% | Trimmed 13% | 650,000 | $12M |
| SR Scholar Rock Hldg Corp | 0.5% | New | 200,000 | $11M |
| Immix Biopharma Inc | 0.4% | Trimmed 18% | 1,000,000 | $10.3M |
| Q32 Bio Inc | 0.4% | New | 800,000 | $10.2M |
| Odyssey Therapeutics Inc | 0.4% | New | 521,736 | $9.76M |
| Annexon Inc | 0.4% | New | 1,500,000 | $8.57M |
| Editas Medicine Inc | 0.3% | New | 2,222,000 | $7.2M |
| Relay Therapeutics Inc | 0.3% | Trimmed 53% | 350,000 | $6.55M |
| Acadia Pharmaceuticals Inc | 0.3% | Trimmed 67% | 250,000 | $6.33M |
| Amylyx Pharmaceuticals Inc | 0.3% | Trimmed 50% | 350,000 | $6.29M |
| Cybin Inc | 0.2% | New | 750,000 | $4.96M |
| Onkure Therapeutics Inc | 0.2% | New | 963,855 | $4.4M |
| Tenax Therapeutics Inc | 0.2% | Trimmed 52% | 300,000 | $4.37M |
| Definium Therapeutics Inc | 0.2% | New | 80,000 | $3.76M |
| Unicycive Therapeutics Inc | 0.1% | Unchanged | 473,563 | $2.22M |
| Palatin Technologies Inc | 0.1% | Trimmed 7.1% | 130,000 | $1.4M |
Showing top 60 of 68 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 |
|---|---|---|---|---|
| Revolution Medicines Inc | Trimmed | −1,300,000 | −$243M | 5.6% |
| Biontech Se | New | +1,015,000 | +$94.4M | 4.1% |
| Vera Therapeutics Inc | New | +2,200,000 | +$94.4M | 4.1% |
| Centessa Pharmaceuticals PLC | Exited | −2,125,000 | −$84.4M | — |
| Terns Pharmaceuticals Inc | Exited | −1,500,000 | −$79.1M | — |
| CT Celldex Therapeutics Inc New | Added | +1,650,000 | +$61.4M | 3.4% |
| Cytokinetics Inc | Exited | −875,000 | −$57.7M | — |
| UT United Therapeutics Corp Del | Exited | −80,000 | −$47.4M | — |
| Abivax Sa | Added | +349,000 | +$46.5M | 5.9% |
| Madrigal Pharmaceuticals Inc | Exited | −85,000 | −$44.5M | — |
Showing the 10 largest of 85 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Revolution Medicines Inc | Exited | −1,000,000 | −$79.7M | — |
| Centessa Pharmaceuticals PLC | Added | +1,925,000 | +$76.5M | 4.2% |
| Cidara Therapeutics Inc | Exited | −310,000 | −$68.5M | — |
| UT United Therapeutics Corp Del | New | +80,000 | +$47.4M | 2.4% |
| Madrigal Pharmaceuticals Inc | New | +85,000 | +$44.5M | 2.2% |
| Terns Pharmaceuticals Inc | Added | +750,000 | +$39.5M | 3.9% |
| Cytokinetics Inc | Added | +575,000 | +$37.9M | 2.9% |
| Avidity Biosciences Inc | Exited | −500,000 | −$36.1M | — |
| Jazz Pharmaceuticals PLC | Exited | −200,000 | −$34M | — |
| Abivax Sa | Added | +275,000 | +$30.6M | 3.8% |
Showing the 10 largest of 77 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PP Praxis Precision Medicines I | Added | +250,000 | +$73.7M | 6.7% |
| Akero Therapeutics Inc | Exited | −1,200,000 | −$57M | — |
| Arvinas Inc | Exited | −5,575,000 | −$47.5M | — |
| Terns Pharmaceuticals Inc | New | +750,000 | +$30.3M | 1.8% |
| Ideaya Biosciences Inc | Added | +875,000 | +$30.2M | 6.5% |
| Tango Therapeutics Inc | Added | +3,250,000 | +$28.8M | 2.2% |
| Immunovant Inc | Added | +1,100,000 | +$28M | 2.1% |
| Arcus Biosciences Inc | New | +1,050,000 | +$25M | 1.5% |
| Moonlake Immunotherapeutics | New | +1,750,000 | +$23.1M | 1.4% |
| Acadia Pharmaceuticals Inc | New | +850,000 | +$22.7M | 1.4% |
Showing the 10 largest of 73 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Series Trust | Exited | −1,000,000 | −$82.9M | — |
| Revolution Medicines Inc | New | +1,000,000 | +$46.7M | 4.2% |
| Abivax Sa | New | +415,000 | +$35.2M | 3.2% |
| Jazz Pharmaceuticals PLC | Trimmed | −250,000 | −$33M | 2.4% |
| Ideaya Biosciences Inc | Trimmed | −1,095,000 | −$29.8M | 5.5% |
| Verastem Inc | Added | +3,050,000 | +$26.9M | 3.2% |
| TP Teva Pharmaceutical Inds Ltd | Exited | −1,500,000 | −$25.1M | — |
| UT United Therapeutics Corp Del | Exited | −85,000 | −$24.4M | — |
| Vaxcyte Inc | New | +625,000 | +$22.5M | 2.0% |
| Protagonist Therapeutics Inc | New | +300,000 | +$19.9M | 1.8% |
Showing the 10 largest of 66 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Series Trust | New | +1,000,000 | +$82.9M | 9.2% |
| Jazz Pharmaceuticals PLC | New | +450,000 | +$47.8M | 5.3% |
| Nuvalent Inc | Exited | −500,000 | −$35.5M | — |
| TP Teva Pharmaceutical Inds Ltd | Exited | −1,700,000 | −$26.1M | — |
| TP Teva Pharmaceutical Inds Ltd | New | +1,500,000 | +$25.1M | 2.8% |
| Biogen Inc | New | +200,000 | +$25.1M | 2.8% |
| UT United Therapeutics Corp Del | New | +85,000 | +$24.4M | 2.7% |
| Arvinas Inc | New | +3,300,000 | +$24.3M | 2.7% |
| Xenon Pharmaceuticals Inc | Exited | −650,000 | −$21.8M | — |
| Neurocrine Biosciences Inc | New | +150,000 | +$18.9M | 2.1% |
Showing the 10 largest of 59 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cytokinetics Inc | Exited | −900,000 | −$42.3M | — |
| Vera Therapeutics Inc | Exited | −875,000 | −$37M | — |
| Nuvalent Inc | New | +500,000 | +$35.5M | 6.3% |
| Merus N V | Exited | −750,000 | −$31.5M | — |
| Insmed Inc | Exited | −450,000 | −$31.1M | — |
| Neurocrine Biosciences Inc | Exited | −200,000 | −$27.3M | — |
| TP Teva Pharmaceutical Inds Ltd | New | +1,700,000 | +$26.1M | 4.6% |
| Vaxcyte Inc | Exited | −300,000 | −$24.6M | — |
| Xenon Pharmaceuticals Inc | New | +650,000 | +$21.8M | 3.9% |
| Jazz Pharmaceuticals PLC | Exited | −175,000 | −$21.6M | — |
Showing the 10 largest of 46 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Disc Medicine Inc | Trimmed | −735,000 | −$46.6M | 1.5% |
| Biontech Se | New | +300,000 | +$34.2M | 4.0% |
| Insmed Inc | New | +450,000 | +$31.1M | 3.6% |
| CT Celldex Therapeutics Inc New | Exited | −900,000 | −$30.6M | — |
| Ionis Pharmaceuticals Inc | Exited | −750,000 | −$30M | — |
| Apellis Pharmaceuticals Inc | Exited | −1,000,000 | −$28.8M | — |
| Neurocrine Biosciences Inc | New | +200,000 | +$27.3M | 3.2% |
| Cytokinetics Inc | Added | +500,000 | +$23.5M | 5.0% |
| Ideaya Biosciences Inc | Added | +900,000 | +$23.1M | 9.0% |
| Galapagos Nv | Exited | −800,000 | −$23M | — |
Showing the 10 largest of 62 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Ser Tr | Exited | −2,000,000 | −$185M | — |
| Sarepta Therapeutics Inc | Exited | −500,000 | −$79M | — |
| Argenx Se | Exited | −135,000 | −$58.1M | — |
| Vaxcyte Inc | New | +300,000 | +$34.3M | 3.7% |
| Moonlake Immunotherapeutics | Exited | −750,000 | −$33M | — |
| CT Celldex Therapeutics Inc New | New | +900,000 | +$30.6M | 3.3% |
| Apellis Pharmaceuticals Inc | Trimmed | −1,000,000 | −$28.8M | 3.1% |
| Xencor Inc | Exited | −1,500,000 | −$28.4M | — |
| Silence Therapeutics PLC | Trimmed | −1,276,061 | −$23.2M | 0.4% |
| Galapagos Nv | New | +800,000 | +$23M | 2.5% |
Showing the 10 largest of 61 changes.
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