Q4 2025 Holdings
Filed 2026-02-13 | 55 holdings | $5.6B | 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 | $1.2B | 10,000,000 | 21.7% |
| Immunovant Inc(IMVT) | COM | 45258J102 | $293.0M | 11,526,971 | 5.2% |
| Guardant Health Inc(GH) | COM | 40131M109 | $286.0M | 2,800,000 | 5.1% |
| Structure Therapeutics Inc(GPCR) | SPONSORED ADS | 86366E106 | $286.0M | 4,111,782 | 5.1% |
| Tarsus Pharmaceuticals Inc(TARS) | COM | 87650L103 | $246.0M | 3,004,034 | 4.4% |
| Dynavax Technologies Corp(DVAX) | COM NEW | 268158201 | $241.9M | 15,726,349 | 4.3% |
| Cytokinetics Inc(CYTK) | COM NEW | 23282W605 | $212.0M | 3,336,998 | 3.8% |
| Axsome Therapeutics Inc(AXSM) | COM | 05464T104 | $210.0M | 1,150,000 | 3.7% |
| Apellis Pharmaceuticals Inc(APLS) | COM | 03753U106 | $194.7M | 7,750,000 | 3.5% |
| Vaxcyte Inc(PCVX) | COM | 92243G108 | $184.6M | 4,000,000 | 3.3% |
| Maze Therapeutics Inc(MAZE) | COM | 578784100 | $175.9M | 4,246,440 | 3.1% |
| Vera Therapeutics Inc(VERA) | CL A | 92337R101 | $142.9M | 2,821,135 | 2.5% |
| Biomarin Pharmaceutical Inc(BMRN) | COM | 09061G101 | $136.7M | 2,300,000 | 2.4% |
| Ionis Pharmaceuticals Inc(IONS) | COM | 462222100 | $134.5M | 1,700,000 | 2.4% |
| Nurix Therapeutics Inc(NRIX) | COM | 67080M103 | $133.5M | 7,036,455 | 2.4% |
| MBX Biosciences Inc(MBX) | COM | 55287L101 | $102.5M | 3,249,790 | 1.8% |
| Ocular Therapeutix Inc(OCUL) | COM | 67576A100 | $98.0M | 8,070,414 | 1.7% |
| Grail Inc(GRAL) | COM | 384747101 | $87.5M | 1,022,797 | 1.6% |
| Viridian Therapeutics Inc(VRDN) | COM | 92790C104 | $78.6M | 2,524,833 | 1.4% |
| LB Pharmaceuticals Inc(LBRX) | COM SHS | 50180M108 | $74.6M | 3,352,804 | 1.3% |
| Immunocore Hldgs PLC(IMCR) | ADS | 45258D105 | $69.6M | 2,003,978 | 1.2% |
| Oruka Therapeutics Inc(ORKA) | COM | 687604108 | $65.5M | 2,161,510 | 1.2% |
| Bridgebio Pharma Inc(BBIO) | COM | 10806X102 | $62.0M | 810,142 | 1.1% |
| Cormedix Inc(CRMD) | COM | 21900C308 | $61.3M | 5,274,076 | 1.1% |
| Moonlake Immunotherapeutics(MLTX) | CLASS A ORD | 61559X104 | $60.8M | 4,610,071 | 1.1% |
| Alkermes PLC(ALKS) | SHS | G01767105 | $56.0M | 2,000,000 | 1.0% |
| Dyne Therapeutics Inc(DYN) | COM | 26818M108 | $51.8M | 2,650,000 | 0.9% |
| Celldex Therapeutics Inc New(CLDX) | COM NEW | 15117B202 | $51.6M | 1,900,738 | 0.9% |
| Compass Pathways PLC(CMPS) | SPONSORED ADS | 20451W101 | $50.6M | 7,334,323 | 0.9% |
| Centessa Pharmaceuticals PLC(CNTA) | SPONSORED ADS | 152309100 | $50.0M | 2,000,000 | 0.9% |
| Soleno Therapeutics Inc(SLNO) | COM | 834203309 | $46.3M | 1,000,000 | 0.8% |
| Verastem Inc(VSTM) | COM NEW | 92337C203 | $44.3M | 5,740,850 | 0.8% |
| Bicara Therapeutics Inc(BCAX) | COM | 055477103 | $44.0M | 2,614,004 | 0.8% |
| Geron Corp(GERN) | COM | 374163103 | $42.9M | 32,511,271 | 0.8% |
| Engene Holdings Inc(ENGN) | COM | 29286M105 | $39.5M | 4,377,572 | 0.7% |
| ANI Pharmaceuticals Inc(ANIP) | COM | 00182C103 | $37.7M | 477,684 | 0.7% |
| Terns Pharmaceuticals Inc(TERN) | COM | 880881107 | $31.1M | 769,048 | 0.6% |
| Enanta Pharmaceuticals Inc(ENTA) | COM | 29251M106 | $30.9M | 1,956,867 | 0.6% |
| Mind Medicine Mindmed Inc(BRD1EUR) | COM NEW | 60255C885 | $22.4M | 1,676,540 | 0.4% |
| Tango Therapeutics Inc(TNGX) | COM | 87583X109 | $21.7M | 2,454,562 | 0.4% |
| X4 Pharmaceuticals Inc(XFOR) | COM NEW | 98420X202 | $20.1M | 5,013,661 | 0.4% |
| Atai Beckley NV | SHS | N0731H103 | $19.1M | 4,677,289 | 0.3% |
| Xenon Pharmaceuticals Inc(XENE) | COM | 98420N105 | $16.4M | 366,435 | 0.3% |
| Cogent Biosciences Inc(COGT) | COM | 19240Q201 | $16.1M | 453,102 | 0.3% |
| Cybin Inc(HELP) | COM NEW | 23256X407 | $15.2M | 1,854,255 | 0.3% |
| Context Therapeutics Inc(CNTX) | COM | 21077P108 | $10.9M | 7,419,355 | 0.2% |
| Monopar Therapeutics Inc(MNPR) | COM NEW | 61023L207 | $6.2M | 95,408 | 0.1% |
| Biohaven LTD(BHVN)Call | COM | G1110E107 | $5.6M | 500,000 | 0.1% |
| Crescent Biopharma Inc.(CBIO) | COM | G2545C104 | $5.4M | 453,686 | 0.1% |
| Aligos Therapeutics Inc(ALGS) | COM NEW | 01626L204 | $4.1M | 444,110 | 0.1% |