Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (23 quarters reported)
$275M in Q4 2020 → $813M 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 |
|---|---|---|---|---|
| Johnson & Johnson | 13.3% | Added 2.5% | 424,945 | $108M |
| Vertex Pharmaceuticals Inc | 12.3% | Added 56% | 201,791 | $100M |
| EL Eli Lilly & Co | 11.3% | Added 24% | 76,532 | $91.8M |
| Ascendis Pharma A/s | 8.5% | New | 258,740 | $69M |
| Dexcom Inc | 6.8% | Added 18% | 820,479 | $55.3M |
| Axsome Therapeutics Inc. | 6.6% | Added 253% | 219,308 | $53.7M |
| Jazz Pharmaceuticals PLC | 6.6% | Added 40% | 221,720 | $53.4M |
| Enliven Therapeutics Inc | 5.4% | New | 866,716 | $44M |
| Argenx Se | 4.7% | Added 31% | 41,596 | $38.6M |
| Madrigal Pharmaceuticals Inc | 4.5% | Trimmed 34% | 68,273 | $36.7M |
| Revolution Medicines Inc | 3.5% | New | 151,822 | $28.4M |
| UT United Therapeutics Corp Del | 3.1% | Trimmed 33% | 47,026 | $25.5M |
| TP Teva Pharmaceutical Inds Ltd | 3.1% | Trimmed 27% | 746,835 | $25.3M |
| Tarsus Pharmaceuticals Inc | 2.5% | Added 30% | 328,340 | $20.7M |
| Intuitive Surgical Inc | 2.3% | Trimmed 69% | 47,983 | $19.1M |
| Cytokinetics Inc | 2.0% | New | 194,000 | $16.5M |
| Dianthus Therapeutics Inc | 1.4% | Trimmed 17% | 120,712 | $11.8M |
| Beta Bionics Inc | 1.0% | New | 493,344 | $7.73M |
| Definium Therapeutics Inc | 0.9% | Trimmed 56% | 162,996 | $7.67M |
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 | New | +258,740 | +$69M | 8.5% |
| Thermo Fisher Scientific Inc | Exited | −132,413 | −$65.1M | — |
| Ascendis Pharma A/s | Exited | −255,332 | −$58.4M | — |
| Enliven Therapeutics Inc | New | +866,716 | +$44M | 5.4% |
| Intuitive Surgical Inc | Trimmed | −105,267 | −$41.9M | 2.3% |
| Axsome Therapeutics Inc. | Added | +157,192 | +$38.5M | 6.6% |
| Vertex Pharmaceuticals Inc | Added | +72,477 | +$36M | 12.3% |
| Nuvalent Inc | Exited | −308,506 | −$31.6M | — |
| Revolution Medicines Inc | New | +151,822 | +$28.4M | 3.5% |
| Madrigal Pharmaceuticals Inc | Trimmed | −35,015 | −$18.8M | 4.5% |
Showing the 10 largest of 22 changes.
quarter ended March 31, 2026 · filed May 18, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Danaher Corporation | Exited | −346,875 | −$79.4M | — |
| Intuitive Surgical Inc | New | +153,250 | +$70.6M | 9.9% |
| Thermo Fisher Scientific Inc | New | +132,413 | +$65.1M | 9.1% |
| Vertex Pharmaceuticals Inc | New | +129,314 | +$57.7M | 8.1% |
| Boston Scientific Corp | Exited | −520,508 | −$49.6M | — |
| Johnson & Johnson | Trimmed | −188,640 | −$46.1M | 14.2% |
| Ionis Pharmaceuticals Inc | Exited | −557,174 | −$44.1M | — |
| Vera Therapeutics Inc | Exited | −805,689 | −$40.8M | — |
| Dianthus Therapeutics Inc | Trimmed | −476,860 | −$40M | 1.7% |
| Jazz Pharmaceuticals PLC | New | +158,663 | +$30M | 4.2% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Danaher Corporation | New | +346,875 | +$79.4M | 10.3% |
| EL Eli Lilly & Co | New | +63,284 | +$68M | 8.8% |
| Johnson & Johnson | Added | +300,312 | +$62.1M | 16.2% |
| Boston Scientific Corp | New | +520,508 | +$49.6M | 6.4% |
| TP Teva Pharmaceutical Inds Ltd | New | +1,435,865 | +$44.8M | 5.8% |
| Ionis Pharmaceuticals Inc | New | +557,174 | +$44.1M | 5.7% |
| Merck & Co Inc | Exited | −446,874 | −$37.5M | — |
| Nuvalent Inc | New | +307,371 | +$30.9M | 4.0% |
| Soleno Therapeutics Inc | Exited | −450,585 | −$30.5M | — |
| Dexcom Inc | New | +421,600 | +$28M | 3.6% |
Showing the 10 largest of 25 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Johnson & Johnson | New | +302,831 | +$56.2M | 12.9% |
| UT United Therapeutics Corp Del | New | +122,187 | +$51.2M | 11.8% |
| Merck & Co Inc | New | +446,874 | +$37.5M | 8.6% |
| TP Teva Pharmaceutical Inds Ltd | Exited | −2,046,846 | −$34.3M | — |
| Alnylam Pharmaceuticals Inc | Exited | −89,525 | −$29.2M | — |
| Vera Therapeutics Inc | Added | +777,093 | +$22.6M | 8.0% |
| Verona Pharma PLC | Exited | −216,578 | −$20.5M | — |
| IM Inspire Med Sys Inc | Exited | −149,244 | −$19.4M | — |
| Unitedhealth Group Inc | Exited | −60,584 | −$18.9M | — |
| Axsome Therapeutics Inc | Added | +134,276 | +$16.3M | 8.2% |
Showing the 10 largest of 29 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Alnylam Pharmaceuticals Inc | New | +89,525 | +$29.2M | 8.9% |
| The Cigna Group | Exited | −73,905 | −$24.3M | — |
| Verona Pharma PLC | New | +216,578 | +$20.5M | 6.2% |
| Ascendis Pharma A/s | Added | +115,317 | +$19.9M | 7.7% |
| Unitedhealth Group Inc | New | +60,584 | +$18.9M | 5.7% |
| Mckesson Corp | Exited | −26,944 | −$18.1M | — |
| Madrigal Pharmaceuticals Inc | Added | +59,896 | +$18.1M | 9.0% |
| TP Teva Pharmaceutical Inds Ltd | Added | +985,838 | +$16.5M | 10.4% |
| Argenx Se | Added | +29,949 | +$16.5M | 8.0% |
| Abbvie Inc | New | +55,661 | +$10.3M | 3.1% |
Showing the 10 largest of 30 changes.
quarter ended March 31, 2025 · filed May 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Zimmer Biomet Holdings Inc | Exited | −369,004 | −$39M | — |
| Natera Inc | Exited | −202,646 | −$32.1M | — |
| Argenx Se | Trimmed | −40,414 | −$23.9M | 5.4% |
| Verona Pharma PLC | Exited | −454,201 | −$21.1M | — |
| TP Teva Pharmaceutical Inds Ltd | Trimmed | −1,362,108 | −$20.9M | 8.4% |
| Avadel Pharmaceuticals PLC | Exited | −1,937,984 | −$20.4M | — |
| Bristol-myers Squibb Co | Exited | −355,366 | −$20.1M | — |
| Jazz Pharmaceuticals PLC | Exited | −161,812 | −$19.9M | — |
| SG Stevanato Group S P A | Trimmed | −946,123 | −$19.3M | 1.8% |
| IL Idexx Labs Inc | Exited | −44,972 | −$18.6M | — |
Showing the 10 largest of 36 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pfizer Inc | Exited | −1,732,935 | −$50.2M | — |
| Zimmer Biomet Holdings Inc | New | +369,004 | +$39M | 8.1% |
| Vaxcyte Inc | Exited | −271,922 | −$31.1M | — |
| Bristol-myers Squibb Co | New | +355,366 | +$20.1M | 4.2% |
| Jazz Pharmaceuticals PLC | New | +161,812 | +$19.9M | 4.1% |
| UT United Therapeutics Corp Del | Exited | −54,926 | −$19.7M | — |
| IL Idexx Labs Inc | New | +44,972 | +$18.6M | 3.9% |
| Natera Inc | Trimmed | −114,793 | −$18.2M | 6.6% |
| SG Stevanato Group S P A | Trimmed | −746,134 | −$16.3M | 5.1% |
| Unitedhealth Group Inc | New | +28,115 | +$14.2M | 2.9% |
Showing the 10 largest of 31 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pfizer Inc | Added | +1,136,016 | +$32.9M | 12.0% |
| Ascendis Pharma A/s | Exited | −227,762 | −$31.1M | — |
| SG Stevanato Group S P A | Added | +1,302,516 | +$26.1M | 9.0% |
| Amgen Inc | Exited | −82,271 | −$25.7M | — |
| Avadel Pharmaceuticals PLC | New | +1,660,955 | +$21.8M | 5.2% |
| Axsome Therapeutics Inc | Trimmed | −214,792 | −$19.3M | 2.0% |
| Regeneron Pharmaceuticals | Exited | −17,516 | −$18.4M | — |
| Vaxcyte Inc | Added | +158,578 | +$18.1M | 7.4% |
| Verona Pharma PLC | New | +593,980 | +$17.1M | 4.1% |
| Avadel Pharmaceuticals PLC | Exited | −1,189,518 | −$16.7M | — |
Showing the 10 largest of 27 changes.
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