Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$282M in Q4 2019 → $1.64B 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 |
|---|---|---|---|---|
| Cullinan Therapeutics, Inc. | 10.8% | Added 27% | 9,731,341 | $177M |
| Aktis Oncology, Inc. | 9.5% | Unchanged | 4,835,872 | $156M |
| Liquidia Corporation | 6.7% | Trimmed 1.4% | 1,386,174 | $111M |
| Revolution Medicines, Inc. | 5.6% | Trimmed 2.8% | 492,483 | $92.2M |
| Corcept Therapeutics, Inc. | 4.1% | Trimmed 22% | 771,028 | $67M |
| Edgewise Therapeutics Inc | 4.0% | Trimmed 2.4% | 1,620,780 | $65.9M |
| Travere Therapeutics Inc | 3.9% | Trimmed 0.9% | 1,122,731 | $63.8M |
| Dbv Technologies S A | 3.7% | Trimmed 30% | 3,666,284 | $60.1M |
| Trevi Therapeutics Inc | 3.5% | Trimmed 6.8% | 3,073,577 | $57.3M |
| Alumis Inc | 3.5% | Trimmed 15% | 2,019,020 | $56.8M |
| Uniqure Nv | 3.4% | Trimmed 10% | 1,225,855 | $56.5M |
| UP Ultragenyx Pharmaceuticals, Inc. | 2.9% | New | 1,418,215 | $47.4M |
| Relay Therapeutics Inc. | 2.8% | Added 2.4% | 2,415,672 | $45.2M |
| AS Abivax Sa | 2.7% | Added 214% | 336,347 | $44.8M |
| Dyne Therapeutics, Inc. | 2.6% | Added 36% | 1,922,093 | $42.7M |
| DT Dianthus Therapeutics Inc | 2.5% | Trimmed 0.9% | 420,002 | $40.9M |
| Bioage Labs Inc | 2.5% | New | 1,667,661 | $40.9M |
| Urogen Pharma Ltd | 2.1% | Trimmed 1.1% | 933,415 | $34.3M |
| Moonlake Immunotherapeutics | 1.9% | Trimmed 11% | 1,606,967 | $31.3M |
| Palvella Therapeutics Inc | 1.9% | Trimmed 1.2% | 204,027 | $31.2M |
| Taysha Gene Therapies, Inc. | 1.9% | New | 4,500,000 | $30.6M |
| Syndax Pharmaceuticals Inc | 1.8% | Trimmed 0.5% | 1,333,523 | $29.2M |
| Monte Rosa Therapeutics Inc | 1.7% | Trimmed 1.3% | 1,161,081 | $28.1M |
| Zura Bio Ltd. | 1.6% | New | 4,472,843 | $26.4M |
| Natera Inc | 1.5% | Trimmed 0.5% | 92,638 | $25.1M |
| Stoke Therapeutics Inc | 1.4% | Trimmed 5.7% | 723,314 | $23.7M |
| AN Adlai Nortye Ltd | 1.4% | New | 1,936,291 | $22.3M |
| Belite Bio Inc | 1.3% | Added 56% | 137,208 | $21.1M |
| Forte Biosciences, Inc. | 1.3% | Trimmed 1.3% | 987,448 | $21M |
| Oric Pharmaceuticals Inc | 1.2% | Added 4.3% | 1,882,162 | $20.4M |
| Tarsus Pharmaceuticals Inc | 1.2% | Trimmed 2.3% | 322,007 | $20.3M |
| Annexon Inc | 1.2% | New | 3,544,354 | $20.2M |
| Bright Minds Biosciences Inc | 0.9% | Trimmed 4.7% | 202,114 | $14.2M |
| Entrada Therapeutics, Inc. | 0.6% | New | 1,253,053 | $9.22M |
| Aclaris Therapeutics Inc | 0.3% | Added 166% | 1,042,467 | $5.51M |
| Context Therapeutics Inc | 0.0% | Trimmed 88% | 1,299,046 | $720K |
| Werewolf Therapeutics, Inc. | 0.0% | Trimmed 93% | 80,142 | $28.9K |
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 |
|---|---|---|---|---|
| UP Ultragenyx Pharmaceuticals, Inc. | New | +1,418,215 | +$47.4M | 2.9% |
| Agios Pharmaceuticals Inc | Exited | −1,306,261 | −$44.2M | — |
| Bioage Labs Inc | New | +1,667,661 | +$40.9M | 2.5% |
| Cullinan Therapeutics, Inc. | Added | +2,083,073 | +$37.9M | 10.8% |
| Xenon Pharmaceuticals Inc | Exited | −588,706 | −$34.2M | — |
| Evommune Inc | Exited | −1,455,863 | −$33.5M | — |
| Cytokinetics Inc | Exited | −500,000 | −$33M | — |
| Taysha Gene Therapies, Inc. | New | +4,500,000 | +$30.6M | 1.9% |
| AS Abivax Sa | Added | +229,079 | +$30.5M | 2.7% |
| Zura Bio Ltd. | New | +4,472,843 | +$26.4M | 1.6% |
Showing the 10 largest of 47 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Dbv Technologies S A | Added | +4,216,536 | +$88.1M | 8.4% |
| Aktis Oncology, Inc. | New | +4,835,872 | +$86.5M | 6.7% |
| Madrigal Pharmaceuticals Inc | Exited | −96,780 | −$56.4M | — |
| Corcept Therapeutics, Inc. | New | +985,700 | +$39.7M | 3.1% |
| DT Dianthus Therapeutics Inc | New | +423,982 | +$35.6M | 2.7% |
| Moonlake Immunotherapeutics | New | +1,811,082 | +$33.8M | 2.6% |
| Travere Therapeutics Inc | New | +1,133,365 | +$33.7M | 2.6% |
| Cytokinetics Inc | New | +500,000 | +$33M | 2.5% |
| Ptc Therapeutics Inc | Exited | −430,013 | −$32.7M | — |
| Evommune Inc | Added | +1,342,841 | +$30.9M | 2.6% |
Showing the 10 largest of 47 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Liquidia Corp | Added | +1,200,869 | +$41.4M | 5.5% |
| Agios Pharmaceuticals Inc | New | +1,303,373 | +$35.5M | 4.1% |
| Avidity Biosciences Inc | Exited | −760,022 | −$33.1M | — |
| Uniqure Nv | New | +1,381,628 | +$33.1M | 3.8% |
| Zai Lab Ltd | Exited | −745,060 | −$25.3M | — |
| Alumis Inc | New | +2,401,992 | +$23.4M | 2.7% |
| Corvus Pharmaceuticals Inc | New | +2,743,671 | +$21.1M | 2.4% |
| Urogen Pharma Ltd | Added | +806,378 | +$18.9M | 2.5% |
| Monte Rosa Therapeutics Inc | New | +1,173,376 | +$18.4M | 2.1% |
| Bright Minds Biosciences Inc | New | +230,147 | +$18M | 2.1% |
Showing the 10 largest of 54 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Guardant Health Inc | Exited | −442,656 | −$23M | — |
| Syndax Pharmaceuticals Inc | New | +1,375,674 | +$21.2M | 3.5% |
| Moonlake Immunotherapeutics | Exited | −313,571 | −$14.8M | — |
| Mbx Biosciences Inc | Exited | −1,294,416 | −$14.8M | — |
| Crinetics Pharmaceuticals Inc. | Exited | −428,975 | −$12.3M | — |
| Olema Pharmaceuticals, Inc. | Exited | −2,378,762 | −$10.1M | — |
| Replimune Group Inc | Exited | −983,780 | −$9.14M | — |
| Nuvation Bio Inc | Exited | −4,622,590 | −$9.01M | — |
| Sarepta Therapeutics Inc | Added | +378,304 | +$7.29M | 2.2% |
| Xenon Pharmaceuticals Inc | Added | +180,000 | +$7.23M | 3.3% |
Showing the 10 largest of 24 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Lantheus Holdings Inc | Exited | −232,387 | −$22.7M | — |
| United Therapeutics Corp. | Exited | −58,907 | −$18.2M | — |
| Tarsus Pharmaceuticals Inc | New | +341,496 | +$13.8M | 2.4% |
| Dyne Therapeutics, Inc. | New | +1,446,361 | +$13.8M | 2.4% |
| Akebia Therapeutics Inc | New | +2,889,125 | +$10.5M | 1.8% |
| Iteos Therapeutics, Inc. | Exited | −1,745,943 | −$10.4M | — |
| Twist Bioscience Corp | Exited | −261,215 | −$10.3M | — |
| Natera Inc | Trimmed | −58,123 | −$9.82M | 2.9% |
| Dbv Technologies S A | New | +1,054,504 | +$9.65M | 1.7% |
| Iovance Biotherapeutics Inc | Exited | −2,708,582 | −$9.02M | — |
Showing the 10 largest of 45 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Madrigal Pharmaceuticals Inc | New | +100,415 | +$33.3M | 5.7% |
| Insmed Incorporated | Exited | −389,611 | −$26.9M | — |
| Mirum Pharmaceuticals Inc | Exited | −589,579 | −$24.4M | — |
| Disc Medicine Inc | Exited | −346,401 | −$22M | — |
| Scholar Rock Holding Corp. | Exited | −416,144 | −$18M | — |
| Ars Pharmaceuticals Inc | New | +1,313,104 | +$16.5M | 2.8% |
| Akero Therapeutics Inc | Exited | −460,617 | −$12.8M | — |
| Alkermes PLC | New | +337,603 | +$11.1M | 1.9% |
| United Therapeutics Corp. | Added | +35,907 | +$11.1M | 3.1% |
| Janux Therapeutics Inc | Added | +337,193 | +$9.1M | 2.6% |
Showing the 10 largest of 50 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Zai Lab Ltd | New | +800,000 | +$21M | 3.0% |
| Scholar Rock Holding Corp. | New | +416,144 | +$18M | 2.6% |
| Insmed Incorporated | Trimmed | −225,780 | −$15.6M | 3.8% |
| Ptc Therapeutics Inc | Added | +345,052 | +$15.6M | 2.8% |
| Context Therapeutics Inc | New | +14,705,882 | +$15.4M | 2.2% |
| Madrigal Pharmaceuticals Inc | Exited | −72,395 | −$15.4M | — |
| Replimune Group Inc | New | +950,000 | +$11.5M | 1.6% |
| Nuvation Bio Inc | New | +4,164,178 | +$11.1M | 1.6% |
| Vera Therapeutics Inc. | New | +257,788 | +$10.9M | 1.5% |
| WL Wave Life Sciences Pte Ltd | Added | +864,766 | +$10.7M | 2.6% |
Showing the 10 largest of 50 changes.
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Avidity Biosciences Inc | Added | +563,975 | +$25.9M | 4.7% |
| Rocket Pharmaceuticals, Inc. | New | +1,066,373 | +$19.7M | 3.0% |
| Alkermes PLC | Exited | −557,556 | −$13.4M | — |
| Twist Bioscience Corp | New | +294,930 | +$13.3M | 2.0% |
| Morphic Holding Inc | Exited | −369,384 | −$12.6M | — |
| Avadel Pharmaceuticals PLC | Exited | −783,242 | −$11M | — |
| Xeris Biopharma Holdings Inc | Exited | −4,830,526 | −$10.9M | — |
| Axsome Therapeutics, Inc. | Exited | −132,312 | −$10.7M | — |
| Hillevax Inc | Exited | −645,085 | −$9.33M | — |
| Fulcrum Therapeutics Inc | Exited | −1,444,851 | −$8.96M | — |
Showing the 10 largest of 48 changes.
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