Q4 2025 Holdings
Filed 2026-02-13 | 95 holdings | $1.8B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Spdr Series Trust(XBI)Put | STATE STREET SPD | 78464A870 | $182.9M | 1,500,000 | 10.4% |
| Apogee Therapeutics Inc(APGE) | COM | 03770N101 | $93.2M | 1,234,926 | 5.3% |
| Insmed Inc(INSM) | COM PAR $.01 | 457669307 | $78.3M | 450,000 | 4.5% |
| Abivax SA(ABVX) | SPONSORED ADS | 00370M103 | $68.1M | 505,000 | 3.9% |
| Ishares TR(IBB)Call | ISHARES BIOTECH | 464287556 | $67.5M | 400,000 | 3.8% |
| Ventyx Biosciences Inc(VTYX) | COM | 92332V107 | $58.6M | 6,484,558 | 3.3% |
| Xenon Pharmaceuticals Inc(XENE) | COM | 98420N105 | $56.0M | 1,250,000 | 3.2% |
| Praxis Precision Medicines I(PRAX) | COM NEW | 74006W207 | $54.5M | 185,000 | 3.1% |
| Cytokinetics Inc(CYTK) | COM NEW | 23282W605 | $50.8M | 800,000 | 2.9% |
| Spyre Therapeutics Inc(SYRE) | COM NEW | 00773J202 | $46.9M | 1,432,591 | 2.7% |
| Wave Life Sciences LTD(WVE) | SHS | Y95308105 | $45.9M | 2,700,000 | 2.6% |
| Amgen Inc(AMGN)Call | COM | 031162100 | $44.2M | 135,000 | 2.5% |
| Teva Pharmaceutical Inds LTD(TEVA) | SPONSORED ADS | 881624209 | $43.7M | 1,400,000 | 2.5% |
| Select Sector Spdr TR(XLV)Call | STATE STREET HEA | 81369Y209 | $38.7M | 250,000 | 2.2% |
| Roivant Sciences LTD(ROIV) | SHS | G76279101 | $36.9M | 1,700,000 | 2.1% |
| Arcellx Inc(ACLX) | COMMON STOCK | 03940C100 | $34.1M | 523,725 | 1.9% |
| Nuvalent Inc(NUVL) | COM | 670703107 | $32.5M | 322,633 | 1.8% |
| Lexeo Therapeutics Inc(LXEO) | COM | 52886X107 | $31.8M | 3,200,000 | 1.8% |
| Alkermes PLC(ALKS) | SHS | G01767105 | $28.0M | 1,000,000 | 1.6% |
| Forte Biosciences Inc(FBRX) | COM NEW | 34962G208 | $27.0M | 989,490 | 1.5% |
| Trevi Therapeutics Inc(TRVI) | COM | 89532M101 | $26.9M | 2,150,172 | 1.5% |
| Mineralys Therapeutics Inc(MLYS) | COM | 603170101 | $26.5M | 730,000 | 1.5% |
| Bridgebio Pharma Inc(BBIO) | COM | 10806X102 | $24.5M | 320,000 | 1.4% |
| Oruka Therapeutics Inc(ORKA) | COM | 687604108 | $24.3M | 802,342 | 1.4% |
| Terns Pharmaceuticals Inc(TERN) | COM | 880881107 | $22.2M | 550,000 | 1.3% |
| Anaptysbio Inc(ANAB) | COM | 032724106 | $21.6M | 444,692 | 1.2% |
| Cullinan Therapeutics Inc(CGEM) | COM | 230031106 | $20.0M | 1,932,106 | 1.1% |
| Omeros Corp | NOTE 9.500% 6/1 | 682143AK8 | $19.4M | $6,525,000 | 1.1% |
| Uniqure NV(QURE)Call | SHS | N90064101 | $19.1M | 800,000 | 1.1% |
| Avalo Therapeutics Inc(AVTX) | COM NEW | 05338F306 | $19.1M | 1,051,054 | 1.1% |
| Nurix Therapeutics Inc(NRIX) | COM | 67080M103 | $18.4M | 967,620 | 1.0% |
| Taysha Gene Therapies Inc(TSHA) | COM SHS | 877619106 | $18.2M | 3,300,000 | 1.0% |
| Madrigal Pharmaceuticals Inc(MDGL) | COM | 558868105 | $18.1M | 31,131 | 1.0% |
| Savara Inc(SVRA) | COM | 805111101 | $16.9M | 2,797,153 | 1.0% |
| Protagonist Therapeutics Inc(PTGX) | COM | 74366E102 | $15.0M | 172,125 | 0.9% |
| Centessa Pharmaceuticals PLC(CNTA) | SPONSORED ADS | 152309100 | $15.0M | 600,552 | 0.9% |
| Establishment Labs Hldgs Inc(ESTA) | COM | G31249108 | $14.6M | 200,000 | 0.8% |
| Erasca Inc(ERAS) | COM | 29479A108 | $14.5M | 3,900,000 | 0.8% |
| Vera Therapeutics Inc(VERA) | CL A | 92337R101 | $12.7M | 250,000 | 0.7% |
| Cogent Biosciences Inc(COGT) | COM | 19240Q201 | $12.4M | 350,000 | 0.7% |
| Ovid Therapeutics Inc(OVID) | COM | 690469101 | $11.7M | 7,150,000 | 0.7% |
| Travere Therapeutics Inc(TVTX) | COM | 89422G107 | $11.5M | 300,000 | 0.7% |
| Jade Biosciences Inc(JBIO) | COM NEW | 008064206 | $11.0M | 714,956 | 0.6% |
| Travere Therapeutics Inc | NOTE 2.250% 3/0 | 89422GAA5 | $10.0M | $7,000,000 | 0.6% |
| Newamsterdam Pharma Company(NAMS) | ORDINARY SHARES | N62509109 | $9.6M | 275,000 | 0.5% |
| Celldex Therapeutics Inc New(CLDX) | COM NEW | 15117B202 | $9.5M | 350,000 | 0.5% |
| Zura BIO LTD(ZURA) | CLASS A ORD SHS | G9TY5A101 | $9.5M | 1,813,671 | 0.5% |
| Tango Therapeutics Inc(TNGX) | COM | 87583X109 | $8.9M | 1,000,000 | 0.5% |
| Sutro Biopharma Inc(STRO) | COM SHS | 869367201 | $8.7M | 748,382 | 0.5% |
| Revolution Medicines Inc(RVMD) | COM | 76155X100 | $8.0M | 100,000 | 0.5% |