Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$992M in Q2 2013 → $6.66B 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 |
|---|---|---|---|---|
| PP Praxis Precision Medicines I | 10.2% | Unchanged | 2,035,986 | $682M |
| Spyre Therapeutics Inc | 5.8% | Added 14% | 4,319,496 | $383M |
| Celcuity Inc | 5.0% | Added 2.2% | 3,197,200 | $334M |
| Ascendis Pharma A/s | 4.7% | New | 1,163,721 | $310M |
| Rhythm Pharmaceuticals Inc | 4.3% | Added 9.0% | 2,586,295 | $287M |
| Roivant Sciences Ltd | 4.3% | Trimmed 2.4% | 8,085,461 | $286M |
| Relay Therapeutics Inc | 4.0% | Added 45% | 14,106,187 | $264M |
| Travere Therapeutics Inc | 3.2% | Trimmed 9.4% | 3,752,574 | $213M |
| K Kardigan Inc | 2.9% | New | 8,200,662 | $196M |
| Nuvalent Inc | 2.9% | Unchanged | 1,580,505 | $195M |
| Edgewise Therapeutics Inc | 2.7% | Trimmed 1.1% | 4,373,974 | $178M |
| Apogee Therapeutics Inc | 2.6% | Trimmed 15% | 1,308,113 | $174M |
| Amylyx Pharmaceuticals Inc | 2.2% | Added 0.6% | 8,334,882 | $150M |
| MH Meiragtx Hldgs PLC | 2.2% | Added 4.5% | 10,786,658 | $146M |
| Oruka Therapeutics Inc | 1.9% | Trimmed 3.6% | 1,345,063 | $128M |
| Inhibrx Biosciences Inc | 1.8% | Trimmed 10% | 1,297,763 | $123M |
| Protagonist Therapeutics Inc | 1.8% | Trimmed 20% | 981,879 | $120M |
| Solid Biosciences Inc | 1.8% | Unchanged | 11,906,646 | $119M |
| Zymeworks Inc | 1.6% | Added 19% | 4,182,953 | $109M |
| Tango Therapeutics Inc | 1.6% | Added 318% | 3,377,000 | $106M |
| Immatics N.v | 1.6% | Unchanged | 10,383,456 | $105M |
| Nurix Therapeutics Inc | 1.6% | Added 16% | 4,320,422 | $105M |
| Biocryst Pharmaceuticals Inc | 1.5% | Added 39% | 10,308,888 | $103M |
| Revolution Medicines Inc | 1.5% | Added 104% | 527,600 | $98.8M |
| AP Avalyn Pharmaceuticals Inc | 1.3% | New | 2,675,296 | $88.1M |
| Moderna Inc Put | 1.1% | Unchanged | 1,000,000 | $70M |
| Dyne Therapeutics Inc | 0.9% | Trimmed 42% | 2,689,235 | $59.7M |
| Biogen Inc | 0.9% | New | 276,173 | $59.7M |
| Immunovant Inc | 0.8% | Trimmed 15% | 1,357,383 | $52.3M |
| Unitedhealth Group Inc | 0.7% | New | 116,806 | $48.5M |
| SS SPDR Series Trust Put | 0.7% | New | 300,000 | $47.5M |
| Ionis Pharmaceuticals Inc | 0.7% | Added 12% | 566,000 | $44.9M |
| Sutro Biopharma Inc | 0.7% | Added 82% | 1,304,846 | $43.3M |
| Alto Neuroscience Inc | 0.6% | Trimmed 20% | 1,609,893 | $42.5M |
| Jazz Pharmaceuticals PLC | 0.6% | Unchanged | 170,000 | $41M |
| Corvus Pharmaceuticals Inc | 0.6% | Added 16% | 2,667,441 | $39.9M |
| Sionna Therapeutics Inc | 0.6% | Added 37% | 905,000 | $39.8M |
| Cytomx Therapeutics Inc. | 0.6% | Added 3.4% | 10,439,185 | $39.1M |
| Artivion Inc | 0.6% | Added 6.1% | 1,737,290 | $39M |
| X4 Pharmaceuticals Inc | 0.6% | Added 18% | 7,933,491 | $37M |
| Corcept Therapeutics Inc | 0.5% | Added 697% | 398,385 | $34.6M |
| Repligen Corp | 0.5% | Trimmed 12% | 248,212 | $33.9M |
| Anteris Technologies Global | 0.5% | Unchanged | 3,425,476 | $33.7M |
| Rapport Therapeutics Inc | 0.5% | Added 15% | 773,342 | $32.2M |
| Damora Therapeutics Inc | 0.5% | Unchanged | 1,223,000 | $31.8M |
| CR Charles Riv Labs Intl Inc | 0.5% | New | 140,000 | $31.8M |
| Axsome Therapeutics Inc. | 0.4% | Trimmed 21% | 118,450 | $29M |
| Eyepoint Inc Put | 0.4% | New | 2,000,000 | $28.6M |
| Dbv Technologies S A | 0.4% | Added 71% | 1,653,350 | $27.1M |
| Irhythm Holdings Inc | 0.4% | Added 113% | 223,766 | $26.6M |
| AB Adaptive Biotechnologies Cor | 0.4% | Added 698% | 1,217,325 | $26.1M |
| Sab Biotherapeutics Inc | 0.4% | Added 3.0% | 6,627,501 | $25.8M |
| DD Danaher Corp Del | 0.4% | New | 130,000 | $24.8M |
| Tenax Therapeutics Inc | 0.4% | Added 17% | 1,700,000 | $24.7M |
| Capricor Therapeutics Inc Call | 0.4% | New | 1,000,000 | $24.1M |
| SL Sellas Life Sciences Group I Put | 0.3% | New | 1,500,000 | $22.1M |
| Nautilus Biotechnology Inc | 0.3% | Trimmed 7.6% | 11,634,211 | $21.8M |
| OB Orchestra Biomed Hldgs Inc | 0.3% | Unchanged | 5,037,906 | $21.7M |
| Intuitive Surgical Inc | 0.3% | Trimmed 39% | 51,884 | $20.6M |
| AN Adlai Nortye Ltd | 0.3% | New | 1,793,190 | $20.6M |
Showing top 60 of 109 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 |
|---|---|---|---|---|
| Ascendis Pharma A/s | Exited | −1,531,421 | −$350M | — |
| Ascendis Pharma A/s | New | +1,163,721 | +$310M | 4.7% |
| Centessa Pharmaceuticals PLC | Exited | −5,258,903 | −$209M | — |
| K Kardigan Inc | New | +8,200,662 | +$196M | 2.9% |
| AP Avalyn Pharmaceuticals Inc | New | +2,675,296 | +$88.1M | 1.3% |
| Relay Therapeutics Inc | Added | +4,355,046 | +$81.5M | 4.0% |
| Tango Therapeutics Inc | Added | +2,568,847 | +$80.3M | 1.6% |
| Biogen Inc | New | +276,173 | +$59.7M | 0.9% |
| Revolution Medicines Inc | Added | +269,000 | +$50.4M | 1.5% |
| Unitedhealth Group Inc | New | +116,806 | +$48.5M | 0.7% |
Showing the 10 largest of 99 changes.
quarter ended March 31, 2026 · filed May 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR Series Trust | Exited | −1,100,000 | −$134M | — |
| Exact Sciences Corp | Exited | −1,200,487 | −$122M | — |
| Ascendis Pharma A/s | Added | +450,000 | +$103M | 6.8% |
| Arcellx Inc | Exited | −1,466,071 | −$95.6M | — |
| Boston Scientific Corp | Exited | −979,000 | −$93.3M | — |
| Centessa Pharmaceuticals PLC | Added | +2,341,269 | +$93M | 4.1% |
| Amicus Therapeutics Inc | Exited | −6,370,851 | −$90.7M | — |
| Astria Therapeutics Inc | Exited | −6,485,420 | −$84.9M | — |
| Relay Therapeutics Inc | Added | +7,847,896 | +$78.1M | 1.9% |
| Apogee Therapeutics Inc | Trimmed | −790,267 | −$66.5M | 2.5% |
Showing the 10 largest of 118 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Rhythm Pharmaceuticals Inc | Trimmed | −416,558,578 | −$44.6B | 4.9% |
| SS SPDR Series Trust | New | +1,100,000 | +$134M | 2.4% |
| Merus N V | Exited | −1,353,093 | −$127M | — |
| PP Praxis Precision Medicines I | Added | +431,432 | +$127M | 10.5% |
| Insmed Inc | Exited | −702,130 | −$101M | — |
| Exact Sciences Corp | Added | +735,000 | +$74.6M | 2.2% |
| Apogee Therapeutics Inc | Added | +978,662 | +$73.9M | 3.1% |
| Arcellx Inc | Trimmed | −1,002,282 | −$65.3M | 1.7% |
| Boston Scientific Corp | Added | +669,000 | +$63.8M | 1.7% |
| Spyre Therapeutics Inc | Added | +1,839,780 | +$60.3M | 1.8% |
Showing the 10 largest of 107 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Verona Pharma PLC | Trimmed | −4,983,503 | −$532M | 1.6% |
| Rhythm Pharmaceuticals Inc | Added | +416,686,670 | +$287M | 8.3% |
| Travere Therapeutics Inc | Added | +2,960,363 | +$70.8M | 2.6% |
| Celcuity Inc | Added | +1,323,111 | +$65.4M | 4.2% |
| Roivant Sciences Ltd | Added | +4,036,996 | +$61.1M | 3.2% |
| Merus N V | Added | +644,917 | +$60.7M | 3.7% |
| Penumbra Inc | Added | +187,750 | +$47.6M | 1.6% |
| Centessa Pharmaceuticals PLC | Added | +1,953,967 | +$47.4M | 2.2% |
| PP Praxis Precision Medicines I | Added | +811,633 | +$43M | 2.4% |
| Soleno Therapeutics Inc | Exited | −430,439 | −$36.1M | — |
Showing the 10 largest of 84 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ascendis Pharma A/s | New | +963,886 | +$166M | 6.2% |
| IT Intra-cellular Therapies Inc | Exited | −786,358 | −$104M | — |
| Verona Pharma PLC | Trimmed | −1,055,749 | −$99.9M | 19.3% |
| Soleno Therapeutics Inc | Trimmed | −1,076,163 | −$90.2M | 1.3% |
| Amicus Therapeutics Inc | Trimmed | −14,051,697 | −$80.5M | 1.6% |
| Omada Health Inc | New | +2,426,330 | +$44.4M | 1.6% |
| Iovance Biotherapeutics Inc | Exited | −12,711,788 | −$42.3M | — |
| Roivant Sciences Ltd | New | +3,331,465 | +$37.5M | 1.4% |
| Argenx Se | Exited | −59,510 | −$35.2M | — |
| Arcellx Inc | Trimmed | −448,478 | −$29.5M | 6.0% |
Showing the 10 largest of 91 changes.
quarter ended March 31, 2025 · filed August 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Edgewise Therapeutics Inc | Added | +3,861,791 | +$85M | 5.1% |
| Nuvalent Inc | Trimmed | −986,009 | −$69.9M | 4.1% |
| IT Intra-cellular Therapies Inc | Trimmed | −501,970 | −$66.2M | 3.7% |
| Rhythm Pharmaceuticals Inc | Trimmed | −1,132,028 | −$60M | 4.8% |
| Centessa Pharmaceuticals PLC | Trimmed | −3,308,825 | −$47.6M | 1.5% |
| Insulet Corp | Trimmed | −160,672 | −$42.2M | 0.7% |
| PP Praxis Precision Medicines I | Exited | −500,000 | −$38.5M | — |
| Vaxcyte Inc | Trimmed | −1,011,850 | −$38.2M | 0.9% |
| Arcellx Inc | Trimmed | −552,410 | −$36.2M | 6.8% |
| Axsome Therapeutics Inc | Trimmed | −308,967 | −$36M | 1.5% |
Showing the 10 largest of 87 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Soleno Therapeutics Inc | Trimmed | −1,703,936 | −$76.6M | 1.9% |
| Biohaven Ltd | Exited | −1,485,232 | −$74.2M | — |
| Tarsus Pharmaceuticals Inc | Trimmed | −1,109,754 | −$61.4M | 0.3% |
| Apogee Therapeutics Inc | Trimmed | −967,775 | −$43.8M | 1.3% |
| Janux Therapeutics Inc | New | +817,895 | +$43.8M | 1.2% |
| SS SPDR Ser Tr | Exited | −400,000 | −$39.5M | — |
| PP Praxis Precision Medicines I | New | +500,000 | +$38.5M | 1.1% |
| Amicus Therapeutics Inc | Trimmed | −3,811,504 | −$35.9M | 6.3% |
| Iovance Biotherapeutics Inc | Trimmed | −4,505,443 | −$33.3M | 4.5% |
| Argenx Se | Trimmed | −51,368 | −$31.6M | 1.1% |
Showing the 10 largest of 108 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| CT Cerevel Therapeutics Hldng I | Exited | −10,794,876 | −$441M | — |
| Verona Pharma PLC | Added | +3,882,208 | +$112M | 3.8% |
| Madrigal Pharmaceuticals Inc | Exited | −264,600 | −$74.1M | — |
| Viking Therapeutics Inc | Added | +978,610 | +$62M | 2.3% |
| Argenx Se | Added | +103,239 | +$56M | 1.4% |
| Neurocrine Biosciences Inc | Trimmed | −437,681 | −$50.4M | 0.5% |
| Nuvalent Inc | Added | +430,158 | +$44M | 6.4% |
| SS SPDR Ser Tr | New | +400,000 | +$39.5M | 0.8% |
| Natera Inc | Trimmed | −310,000 | −$39.4M | 0.6% |
| CP Crinetics Pharmaceuticals In | Trimmed | −751,505 | −$38.4M | 0.8% |
Showing the 10 largest of 85 changes.
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