Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (26 quarters reported)
$369M in Q1 2020 → $3.3B 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 |
|---|---|---|---|---|
| Apogee Therapeutics Inc | 34.2% | Unchanged | 8,493,321 | $1.13B |
| Oruka Therapeutics Inc | 12.0% | Unchanged | 4,148,428 | $395M |
| Erasca Inc | 9.9% | Added 9.2% | 17,891,812 | $328M |
| Spyre Therapeutics Inc | 8.0% | Trimmed 19% | 2,985,448 | $265M |
| DT Dianthus Therapeutics Inc | 3.5% | Unchanged | 1,180,000 | $115M |
| Ocular Therapeutix Inc | 3.1% | Unchanged | 10,346,926 | $102M |
| Damora Therapeutics Inc | 2.8% | Unchanged | 3,603,595 | $93.7M |
| Savara Inc | 2.8% | Added 7.3% | 14,745,943 | $90.8M |
| Jade Biosciences Inc | 2.2% | Unchanged | 3,220,364 | $71.6M |
| Cogent Biosciences Inc | 1.9% | Trimmed 18% | 1,642,166 | $63.6M |
| VT Viridian Therapeutics Inc | 1.8% | Trimmed 16% | 3,257,917 | $59.8M |
| Vor Biopharma Inc | 1.7% | Unchanged | 3,041,719 | $56M |
| Dyne Therapeutics Inc | 1.5% | Unchanged | 2,173,913 | $48.3M |
| Maze Therapeutics Inc | 1.4% | Unchanged | 1,602,034 | $47.8M |
| Relmada Therapeutics Inc | 1.4% | Added 41% | 6,844,305 | $47.4M |
| Oric Pharmaceuticals Inc | 1.4% | Unchanged | 4,319,765 | $46.8M |
| Crescent Biopharma Inc. | 1.2% | Unchanged | 2,133,576 | $38.4M |
| Zura Bio Ltd | 1.2% | Unchanged | 6,434,990 | $38M |
| AN Adlai Nortye Ltd | 1.1% | Unchanged | 3,212,731 | $36.9M |
| Enliven Therapeutics Inc | 0.8% | Trimmed 70% | 526,331 | $26.7M |
| Cybin Inc | 0.8% | Unchanged | 3,851,654 | $25.5M |
| Cullinan Therapeutics Inc | 0.8% | Unchanged | 1,379,965 | $25.1M |
| Century Therapeutics Inc | 0.6% | Unchanged | 8,695,652 | $21.3M |
| Artiva Biotherapeutics Inc | 0.6% | Added 27% | 2,043,596 | $19.8M |
| Cytomx Therapeutics Inc | 0.6% | Trimmed 50% | 4,982,124 | $18.7M |
| AL Achieve Life Science Inc | 0.5% | New | 2,751,032 | $18M |
| PM Parabilis Medicines Inc | 0.5% | New | 625,000 | $17.1M |
| S Surrozen Inc | 0.5% | Unchanged | 632,931 | $16.4M |
| Korro Bio Inc | 0.4% | Unchanged | 1,009,500 | $13.3M |
| Alto Neuroscience Inc | 0.4% | Unchanged | 500,000 | $13.2M |
| X4 Pharmaceuticals Inc | 0.3% | Added 485% | 1,934,253 | $9.03M |
| Research Alliance Corp Iii | 0.1% | New | 300,000 | $3.21M |
| Inmed Pharmaceuticals Inc | 0.0% | New | 32,685 | $50.7K |
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 |
|---|---|---|---|---|
| Kalvista Pharmaceuticals Inc | Exited | −6,474,485 | −$130M | — |
| Spyre Therapeutics Inc | Trimmed | −700,000 | −$62.1M | 8.0% |
| Enliven Therapeutics Inc | Trimmed | −1,200,000 | −$60.9M | 0.8% |
| EH Engene Holdings Inc | Exited | −4,771,414 | −$32.5M | — |
| Erasca Inc | Added | +1,509,000 | +$27.6M | 9.9% |
| Tenax Therapeutics Inc | Exited | −1,675,262 | −$26.8M | — |
| Cytomx Therapeutics Inc | Trimmed | −5,000,000 | −$18.8M | 0.6% |
| AL Achieve Life Science Inc | New | +2,751,032 | +$18M | 0.5% |
| PM Parabilis Medicines Inc | New | +625,000 | +$17.1M | 0.5% |
| Cogent Biosciences Inc | Trimmed | −357,834 | −$13.8M | 1.9% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Damora Therapeutics Inc | New | +3,603,595 | +$93.3M | 3.5% |
| Enliven Therapeutics Inc | Trimmed | −1,500,000 | −$58.8M | 2.5% |
| Relmada Therapeutics Inc | New | +4,843,380 | +$33.7M | 1.3% |
| Upstream Bio Inc | Exited | −1,169,298 | −$31.7M | — |
| Tenax Therapeutics Inc | New | +1,675,262 | +$26.8M | 1.0% |
| Cytomx Therapeutics Inc | Trimmed | −5,579,376 | −$26.2M | 1.8% |
| Ocular Therapeutix Inc | Added | +3,031,379 | +$25.7M | 3.3% |
| Erasca Inc | Trimmed | −1,474,271 | −$23.9M | 9.9% |
| AN Adlai Nortye Ltd | New | +3,212,731 | +$22.2M | 0.8% |
| Century Therapeutics Inc | New | +8,695,652 | +$19.7M | 0.7% |
Showing the 10 largest of 22 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Metsera Inc | Exited | −3,750,662 | −$196M | — |
| Cidara Therapeutics Inc | Exited | −946,788 | −$90.7M | — |
| Cogent Biosciences Inc | Trimmed | −2,000,000 | −$71M | 3.5% |
| Ocular Therapeutix Inc | Trimmed | −5,845,915 | −$71M | 4.4% |
| Abivax Sa | Exited | −576,729 | −$49M | — |
| Spyre Therapeutics Inc | Added | +1,000,000 | +$32.8M | 6.0% |
| Cybin Inc | New | +3,840,250 | +$31.4M | 1.6% |
| Vor Biopharma Inc | Added | +1,443,800 | +$18.9M | 1.3% |
| Astria Therapeutics Inc | Exited | −2,457,348 | −$17.9M | — |
| Pharvaris N V | Exited | −674,599 | −$16.8M | — |
Showing the 10 largest of 19 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Abivax Sa | Trimmed | −769,051 | −$65.3M | 2.8% |
| Pharvaris N V | Trimmed | −1,373,021 | −$34.3M | 0.9% |
| Maze Therapeutics Inc | New | +1,230,769 | +$31.9M | 1.8% |
| Cidara Therapeutics Inc | Added | +307,700 | +$29.5M | 5.1% |
| Vor Biopharma Inc | New | +499,966 | +$24.4M | 1.4% |
| Upstream Bio Inc | Trimmed | −1,126,021 | −$21.2M | 1.2% |
| Enliven Therapeutics Inc | Trimmed | −800,000 | −$16.4M | 3.7% |
| Savara Inc | Added | +3,796,780 | +$13.6M | 2.5% |
| Cogent Biosciences Inc | Trimmed | −755,411 | −$10.8M | 3.2% |
| Cytomx Therapeutics Inc | Added | +1,591,618 | +$5.08M | 2.8% |
Showing the 10 largest of 14 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| PP Praxis Precision Medicines I | Exited | −989,985 | −$37.5M | — |
| Oric Pharmaceuticals Inc | Added | +3,414,358 | +$34.7M | 5.0% |
| Jade Biosciences Inc | New | +3,220,364 | +$32.2M | 2.4% |
| Cytomx Therapeutics Inc | New | +13,969,882 | +$31.7M | 2.4% |
| Crescent Biopharma Inc. | New | +1,387,864 | +$22.4M | 1.7% |
| Cidara Therapeutics Inc | Trimmed | −412,430 | −$20.1M | 2.3% |
| Pharvaris N V | Trimmed | −1,065,100 | −$18.7M | 2.7% |
| DT Dianthus Therapeutics Inc | Trimmed | −744,373 | −$13.9M | 1.4% |
| Savara Inc | Added | +5,626,624 | +$12.8M | 1.5% |
| Solid Biosciences Inc | Exited | −2,481,400 | −$9.18M | — |
Showing the 10 largest of 24 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Metsera Inc | New | +3,750,662 | +$102M | 8.7% |
| Merus N V | Exited | −592,411 | −$24.9M | — |
| Aquestive Therapeutics Inc | Exited | −2,629,786 | −$9.36M | — |
| Solid Biosciences Inc | New | +2,481,400 | +$9.18M | 0.8% |
| Savara Inc | New | +3,257,639 | +$9.02M | 0.8% |
| Oruka Therapeutics Inc | Added | +862,808 | +$8.85M | 3.6% |
| S Surrozen Inc | New | +632,931 | +$7.38M | 0.6% |
| 4M 4d Molecular Therapeutics In | Trimmed | −2,274,771 | −$7.35M | 0.2% |
| Oric Pharmaceuticals Inc | Trimmed | −1,212,000 | −$6.76M | 1.5% |
| Cidara Therapeutics Inc | Added | +285,795 | +$6.16M | 1.9% |
Showing the 10 largest of 19 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Upstream Bio Inc | New | +2,295,319 | +$37.7M | 2.6% |
| Edgewise Therapeutics Inc | Exited | −1,000,000 | −$26.7M | — |
| PP Praxis Precision Medicines I | Added | +283,854 | +$21.8M | 5.2% |
| Cidara Therapeutics Inc | New | +765,723 | +$20.6M | 1.4% |
| Merus N V | Trimmed | −315,552 | −$13.3M | 1.7% |
| Terns Pharmaceuticals Inc | Trimmed | −2,332,968 | −$12.9M | 0.4% |
| Arvinas Inc | Exited | −454,450 | −$11.2M | — |
| Aquestive Therapeutics Inc | Trimmed | −2,925,769 | −$10.4M | 0.6% |
| Adverum Biotechnologies Inc | Exited | −1,467,048 | −$10.3M | — |
| Taysha Gene Therapies Inc | Trimmed | −5,774,820 | −$9.99M | 0.4% |
Showing the 10 largest of 22 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Oruka Therapeutics Inc | New | +3,085,620 | +$75.6M | 4.0% |
| Artiva Biotherapeutics Inc | New | +1,609,569 | +$24.9M | 1.3% |
| Edgewise Therapeutics Inc | Trimmed | −818,182 | −$21.8M | 1.4% |
| Merus N V | Trimmed | −355,251 | −$17.7M | 2.4% |
| Zura Bio Ltd | Trimmed | −4,000,000 | −$16.2M | 0.4% |
| DT Dianthus Therapeutics Inc | Trimmed | −350,000 | −$9.58M | 2.5% |
| Casi Pharmaceuticals Inc | Added | +875,573 | +$5.39M | 0.3% |
| EH Engene Holdings Inc | Added | +739,858 | +$4.88M | 1.2% |
| Arvinas Inc | Trimmed | −173,338 | −$4.27M | 0.6% |
| AB Arca Biopharma Inc | Exited | −866,375 | −$3.32M | — |
Showing the 10 largest of 16 changes.
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