Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$2.24B in Q2 2013 → $1.59B 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 |
|---|---|---|---|---|
| Trevi Therapeutics, Inc. | 15.5% | Unchanged | 13,222,228 | $247M |
| Mbx Biosciences, Inc. | 12.6% | Unchanged | 3,614,486 | $200M |
| Monte Rosa Therapeutics, Inc. | 11.7% | Unchanged | 7,692,298 | $186M |
| Celcuity Inc. | 11.3% | Trimmed 25% | 1,710,561 | $179M |
| Spyglass Pharma, Inc. | 10.4% | Unchanged | 7,392,301 | $165M |
| Savara, Inc. | 9.5% | Unchanged | 24,471,264 | $151M |
| Zenas Biopharma, Inc. | 6.4% | Unchanged | 4,023,219 | $102M |
| Coursera, Inc. | 4.6% | Unchanged | 12,867,769 | $72.6M |
| Aurinia Pharmaceuticals, Inc. | 4.2% | Unchanged | 3,969,834 | $67.4M |
| Crispr Therapeutics Ag | 3.6% | Unchanged | 1,058,570 | $57.7M |
| Oric Pharmaceuticals, Inc. | 2.8% | Unchanged | 4,118,621 | $44.6M |
| Phathom Pharmaceuticals, Inc. | 1.3% | Unchanged | 1,960,169 | $21.3M |
| Korro Bio, Inc. | 1.1% | Unchanged | 1,297,893 | $17.1M |
| X4 Pharmaceuticals, Inc. | 1.0% | Unchanged | 3,233,743 | $15.1M |
| Champions Oncology, Inc. | 0.7% | Unchanged | 1,713,720 | $10.6M |
| Nkarta, Inc. | 0.6% | Unchanged | 3,568,781 | $10.1M |
| Cvrx, Inc. | 0.6% | Trimmed 3.5% | 1,954,440 | $10M |
| Black Diamond Therapeutics, Inc. | 0.5% | Unchanged | 4,448,757 | $8.23M |
| Karyopharm Therapeutics Inc. | 0.4% | New | 576,780 | $5.64M |
| IS Inventiva Sa | 0.3% | Unchanged | 1,462,586 | $5.53M |
| Leonabio, Inc. | 0.3% | Unchanged | 464,398 | $4.27M |
| SB Senti Biosciences, Inc. | 0.3% | Unchanged | 3,775,615 | $4.15M |
| Marker Therapeutics, Inc. | 0.2% | Unchanged | 1,625,678 | $2.39M |
| Onkure Therapeutics, Inc. | 0.1% | Unchanged | 478,548 | $2.18M |
| Imagenebio, Inc. | 0.0% | Unchanged | 50,005 | $295K |
| Gossamer Bio, Inc. | 0.0% | Unchanged | 1,000,000 | $165K |
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 |
|---|---|---|---|---|
| Arcellx, Inc. | Exited | −3,045,262 | −$350M | — |
| Celcuity Inc. | Trimmed | −575,000 | −$60.2M | 11.3% |
| Karyopharm Therapeutics Inc. | New | +576,780 | +$5.64M | 0.4% |
| Cvrx, Inc. | Trimmed | −71,643 | −$368K | 0.6% |
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Rhythm Pharmaceuticals, Inc. | Exited | −2,909,956 | −$311M | — |
| Spyglass Pharma, Inc. | New | +7,392,301 | +$192M | 10.9% |
| Celcuity Inc. | Trimmed | −1,250,000 | −$143M | 14.8% |
| Zenas Biopharma, Inc. | Added | +500,000 | +$9.78M | 4.5% |
| Gossamer Bio, Inc. | Trimmed | −17,093,034 | −$5.62M | — |
| Synlogic, Inc. | Exited | −2,922,772 | −$3.27M | — |
| Korro Bio, Inc. | Added | +207,100 | +$2.34M | 0.8% |
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Verona Pharma PLC | Exited | −2,252,994 | −$240M | — |
| Celcuity Inc. | Added | +1,391,300 | +$139M | 18.0% |
| Zenas Biopharma, Inc. | Added | +789,500 | +$28.7M | 6.5% |
| Neuehealth Inc | Exited | −2,726,917 | −$18.2M | — |
| Omada Health Inc | Exited | −364,115 | −$8.05M | — |
| X4 Pharmaceuticals, Inc. | Added | +1,000,000 | +$4M | 0.7% |
| Leonabio, Inc. | New | +464,398 | +$3.52M | 0.2% |
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arcellx Inc | Trimmed | −700,000 | −$57.5M | 13.7% |
| Crispr Therapeutics Ag | Trimmed | −529,284 | −$34.3M | 3.8% |
| Inozyme Pharma Inc | Exited | −2,437,689 | −$9.75M | — |
| Celcuity Inc | Trimmed | −150,000 | −$7.41M | 5.8% |
| X4 Pharmaceuticals Inc | Added | +1,734,184 | +$5.93M | 0.4% |
| Adaptimmune Therapeutics PLC | Exited | −17,079,778 | −$4.09M | — |
| Verona Pharma PLC | Trimmed | −10,144 | −$1.08M | 13.2% |
| IO Ikena Oncology Inc | Exited | −600,063 | −$804K | — |
| Imagenebio Inc | New | +50,005 | +$408K | — |
| Wheels Up Experience Inc | Exited | −106,125 | −$114K | — |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tempus Ai Inc | Exited | −2,615,979 | −$126M | — |
| Verona Pharma PLC | Trimmed | −425,427 | −$40.2M | 16.1% |
| X4 Pharmaceuticals Inc | Trimmed | −14,487,234 | −$27.5M | 0.1% |
| Oric Pharmaceuticals Inc | Added | +1,923,076 | +$19.5M | 3.1% |
| Celcuity Inc | Added | +1,044,260 | +$13.9M | 2.3% |
| Regulus Therapeutics Inc | Exited | −6,467,802 | −$11.3M | — |
| Trevi Therapeutics Inc | Added | +1,851,852 | +$10.1M | 5.4% |
| DM Desktop Metal Inc | Exited | −1,439,892 | −$7.07M | — |
| Omada Health Inc | New | +364,115 | +$6.66M | 0.5% |
| Buzzfeed Inc | Exited | −2,512,103 | −$5.35M | — |
Showing the 10 largest of 14 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Verona Pharma PLC | Trimmed | −2,896,188 | −$184M | 13.1% |
| Tempus Ai Inc | Trimmed | −2,770,000 | −$134M | 9.7% |
| Nextnav | Exited | −8,189,156 | −$127M | — |
| SB Senti Biosciences Inc | Added | +3,333,000 | +$11.2M | 1.0% |
| Geron Corp | Exited | −2,776,409 | −$9.83M | — |
| Sagimet Biosciences Inc | Exited | −2,000,275 | −$9M | — |
| Oric Pharmaceuticals Inc | Added | +629,464 | +$3.51M | 0.9% |
| Buzzfeed Inc | Trimmed | −1,321,370 | −$2.81M | 0.4% |
| Lexicon Pharmaceuticals Inc | Exited | −2,382,286 | −$1.76M | — |
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| RP Reneo Pharmaceuticals Inc | Exited | −4,785,494 | −$8.14M | — |
| Cvrx Inc | Trimmed | −344,459 | −$4.36M | 1.4% |
| Onkure Therapeutics Inc | New | +478,548 | +$4.12M | 0.2% |
| Marker Therapeutics Inc | Added | +554,250 | +$1.72M | 0.3% |
| Oric Pharmaceuticals Inc | Added | +66,081 | +$533K | 0.7% |
| Mynd Ai Inc | Exited | −206,208 | −$165K | — |
| Tuya Inc | New | +0 | — | — |
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mbx Biosciences Inc | New | +3,614,486 | +$93.9M | 5.1% |
| Tempus Ai Inc | Added | +813,169 | +$46M | 16.6% |
| Zenas Biopharma Inc | New | +2,613,948 | +$44.2M | 2.4% |
| Regulus Therapeutics Inc | Exited | −6,467,802 | −$11.6M | — |
| Regulus Therapeutics Inc | New | +6,467,802 | +$10.2M | 0.6% |
| Tuya Inc | Exited | −3,260,976 | −$5.58M | — |
| Mynd Ai Inc | Trimmed | −3,436,503 | −$2.75M | — |
| SB Senti Biosciences Inc | Exited | −4,426,151 | −$1.22M | — |
| SB Senti Biosciences Inc | New | +442,615 | +$1M | 0.1% |
| IO Ikena Oncology Inc | Added | +30,013 | +$51.9K | 0.1% |
Showing the 10 largest of 11 changes.
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