Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (19 quarters reported)
$177M in Q4 2021 → $1.04B 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 |
|---|---|---|---|---|
| Veradermics, Inc. | 28.4% | Unchanged | 2,401,868 | $295M |
| Zenas Biopharma, Inc | 12.3% | Unchanged | 5,037,854 | $128M |
| Crispr Therapeutics Ag | 10.7% | Unchanged | 2,038,763 | $111M |
| Avalyn Pharma, Inc | 10.5% | New | 3,308,649 | $109M |
| Design Therapeutics, Inc. | 9.1% | Unchanged | 6,526,476 | $94.4M |
| Odyssey Therapeutics, Inc. | 6.8% | New | 3,794,883 | $71M |
| Alumis Inc. | 5.3% | Unchanged | 1,959,896 | $55.2M |
| Oric Pharmaceuticals, Inc. | 4.8% | Added 2.2% | 4,615,384 | $50M |
| Mineralys Therapeutics Inc. | 4.1% | Unchanged | 1,563,966 | $42.2M |
| Ars Pharmaceuticals, Inc. | 3.1% | Unchanged | 4,012,903 | $32.1M |
| Mobia Medical, Inc | 2.6% | New | 1,986,072 | $26.6M |
| Nkarta, Inc. | 0.9% | Unchanged | 3,333,333 | $9.43M |
| Oculis Holding Ag | 0.9% | Unchanged | 641,022 | $8.89M |
| Ultragenyx Pharmaceutical Inc. | 0.4% | Unchanged | 137,753 | $4.6M |
| EH Engene Holdings Inc. | 0.1% | Unchanged | 747,750 | $1.29M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Arcellx, Inc. | Exited | −2,346,630 | −$269M | — |
| Avalyn Pharma, Inc | New | +3,308,649 | +$109M | 10.5% |
| Odyssey Therapeutics, Inc. | New | +3,794,883 | +$71M | 6.8% |
| Mobia Medical, Inc | New | +1,986,072 | +$26.6M | 2.6% |
| Oruka Therapeutics, Inc | Exited | −430,330 | −$21.1M | — |
| Oric Pharmaceuticals, Inc. | Added | +100,455 | +$1.09M | 4.8% |
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Veradermics, Inc. | New | +2,401,868 | +$152M | 16.6% |
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mineralys Therapeutics Inc. | Trimmed | −549,967 | −$20M | 8.0% |
| Oculis Holding Ag | Added | +318,522 | +$6.36M | 1.8% |
| Zenas Biopharma, Inc | Added | +126,315 | +$4.59M | 25.9% |
| Ultragenyx Pharmaceutical Inc. | New | +137,753 | +$3.17M | 0.4% |
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Crispr Therapeutics Ag | Added | +989,812 | +$64.1M | 19.1% |
| Mineralys Therapeutics Inc. | Trimmed | −1,014,000 | −$38.5M | 11.6% |
| Kala Bio, Inc. | Exited | −598,940 | −$2.85M | — |
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Oric Pharmaceuticals, Inc. | New | +4,514,929 | +$45.8M | 9.9% |
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mineralys Therapeutics Inc. | Added | +1,111,111 | +$17.6M | 12.8% |
| Oculis Holding Ag | New | +322,500 | +$6.14M | 1.6% |
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Kala Bio, Inc. | Added | +155,279 | +$1.08M | 1.0% |
| Oruka Therapeutics, Inc | Added | +55,000 | +$1.07M | 2.0% |
quarter ended September 30, 2024 · filed November 13, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Zenas Biopharma, Inc | New | +4,911,539 | +$83.1M | 16.7% |
| Oruka Therapeutics, Inc | New | +375,330 | +$9.2M | 1.8% |
| EH Engene Holdings Inc. | Added | +247,750 | +$1.64M | 1.0% |
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