Q4 2025 Holdings
Filed 2026-02-13 | 40 holdings | $3.7B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Newamsterdam Pharma Company(NAMS) | ORDINARY SHARES | N62509109 | $594.4M | 16,943,774 | 16.0% |
| Mirum Pharmaceuticals Inc(MIRM) | COM | 604749101 | $536.7M | 6,795,121 | 14.4% |
| Arcutis Biotherapeutics Inc(ARQT) | COM | 03969K108 | $286.8M | 9,874,511 | 7.7% |
| Bridgebio Pharma Inc(BBIO) | COM | 10806X102 | $271.2M | 3,545,557 | 7.3% |
| MBX Biosciences Inc(MBX) | COM | 55287L101 | $209.8M | 6,652,013 | 5.6% |
| Phathom Pharmaceuticals Inc(PHAT) | COM | 71722W107 | $206.8M | 12,466,489 | 5.6% |
| Maze Therapeutics Inc(MAZE) | COM | 578784100 | $189.2M | 4,567,274 | 5.1% |
| Trevi Therapeutics Inc(TRVI) | COM | 89532M101 | $128.4M | 10,259,409 | 3.5% |
| Krystal Biotech Inc(KRYS) | COM | 501147102 | $120.4M | 488,460 | 3.2% |
| Disc Medicine Inc(IRON) | COM | 254604101 | $100.1M | 1,260,000 | 2.7% |
| Erasca Inc(ERAS) | COM | 29479A108 | $84.6M | 22,729,436 | 2.3% |
| Kalvista Pharmaceuticals Inc(KALV) | COM | 483497103 | $81.4M | 5,039,867 | 2.2% |
| Palvella Therapeutics Inc NE(PVLA) | COM | 697947109 | $75.6M | 722,400 | 2.0% |
| Avidity Biosciences Inc(RNA) | COM | 05370A108 | $70.9M | 983,125 | 1.9% |
| Revolution Medicines Inc(RVMD) | COM | 76155X100 | $63.5M | 797,455 | 1.7% |
| Dyne Therapeutics Inc(DYN) | COM | 26818M108 | $61.7M | 3,153,082 | 1.7% |
| Tarsus Pharmaceuticals Inc(TARS) | COM | 87650L103 | $59.7M | 728,644 | 1.6% |
| Savara Inc(SVRA) | COM | 805111101 | $59.5M | 9,862,301 | 1.6% |
| Cytokinetics Inc(CYTK) | COM NEW | 23282W605 | $59.4M | 934,642 | 1.6% |
| Abivax SA(ABVX) | SPONSORED ADS | 00370M103 | $51.0M | 378,300 | 1.4% |
| Lexeo Therapeutics Inc(LXEO) | COM | 52886X107 | $43.9M | 4,424,725 | 1.2% |
| Agios Pharmaceuticals Inc(AGIO) | COM | 00847X104 | $34.8M | 1,279,754 | 0.9% |
| Acadia Pharmaceuticals Inc(ACAD) | COM | 004225108 | $34.6M | 1,297,198 | 0.9% |
| ZAI LAB LTD(ZLAB) | ADR | 98887Q104 | $33.6M | 1,902,320 | 0.9% |
| Rapt Therapeutics Inc(RAPT) | COM NEW | 75382E208 | $33.3M | 983,333 | 0.9% |
| VOR Biopharma Inc(VOR) | COM NEW | 929033207 | $33.3M | 2,543,939 | 0.9% |
| Ascendis Pharma A/S(ASND) | SPONSORED ADR | 04351P101 | $28.4M | 133,333 | 0.8% |
| Aura Biosciences Inc(AURA) | COM | 05153U107 | $27.8M | 5,100,000 | 0.7% |
| Mannkind Corp(MNKD) | COM NEW | 56400P706 | $24.0M | 4,225,000 | 0.6% |
| Valneva SE(VALN) | SPONSORED ADS | 92025Y103 | $20.2M | 2,291,666 | 0.5% |
| Alkermes PLC(ALKS) | SHS | G01767105 | $19.6M | 700,647 | 0.5% |
| Evolus Inc(EOLS) | COM | 30052C107 | $17.5M | 2,630,665 | 0.5% |
| Immunocore Hldgs PLC(IMCR) | ADS | 45258D105 | $13.4M | 384,782 | 0.4% |
| Newamsterdam Pharma Company | *W EXP 99/99/999 | N62509117 | $11.5M | 500,333 | 0.3% |
| Travere Therapeutics Inc(TVTX) | COM | 89422G107 | $9.2M | 241,592 | 0.2% |
| Autolus Therapeutics PLC(AUTL) | SPON ADS | 05280R100 | $9.2M | 4,623,324 | 0.2% |
| Allogene Therapeutics Inc(ALLO) | COM | 019770106 | $5.3M | 3,868,750 | 0.1% |
| Design Therapeutics Inc(DSGN) | COM | 25056L103 | $4.9M | 521,000 | 0.1% |
| Xilio Therapeutics Inc(XLO) | COM | 98422T100 | $3.8M | 5,915,091 | 0.1% |
| Ibio Inc(IBIO) | COM NEW | 451033708 | $3.8M | 1,953,467 | 0.1% |