CIK 1609251
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Pharmaceuticals & Biotechnology | 96.81% | 18 |
| Health Care Equipment & Supplies | 2.54% | 1 |
| Unclassified | 0.65% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | UTHR | UNITED THERAPEUTICS Corp | Health Care | 19.55% |
| 2 | ENTA | ENANTA PHARMACEUTICALS INC | Health Care | 14.16% |
| 3 | JAZZ | Jazz Pharmaceuticals plc | Health Care | 12.41% |
| 4 | BMRN | BIOMARIN PHARMACEUTICAL INC | Health Care | 11.59% |
| 5 | EXEL | EXELIXIS, INC. | Health Care | 6.97% |
| 6 | SNY | Sanofi | Health Care | 6.10% |
| 7 | SUPN | SUPERNUS PHARMACEUTICALS, INC. | Health Care | 5.67% |
| 8 | INDV | Indivior Pharmaceuticals, Inc. | Health Care | 4.05% |
| 9 | RARE | Ultragenyx Pharmaceutical Inc. | Health Care | 3.20% |
| 10 | VNDA | Vanda Pharmaceuticals Inc. | Health Care | 3.19% |
19/20 names classified · sector 99.4% of weight · industry 99.4% · mkt cap 89.1%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 99.4% of the book is sector-classified (unclassified names shown, never dropped).
Only 49% of book weight classified — the grid is NOT representative of the whole book.
Classified: 49.0% of book weight (9/20 names) · unclassified 51.0%: ENTA, JAZZ, SNY, SUPN, RARE, VNDA, GSK, BNTX, ARDX, INMD +1 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | UTHRUnited Therapeutics Corp. | 84,282 | $50M | 19.5% | TRIM −8% |
| 2 | ENTAENANTA PHARMACEUTICALS INC | 2,866,138 | $36M | 14.2% | ADD 4% |
| 3 | JAZZJAZZ PHARMACEUTICALS PLC | 167,816 | $32M | 12.4% | HOLD |
| 4 | BMRNBIOMARIN PHARMACEUTICAL INC | 524,786 | $30M | 11.6% | HOLD |
| 5 | EXELEXELIXIS INC | 415,693 | $18M | 7.0% | TRIM −16% |
| 6 | SNYSANOFI SA | 323,946 | $16M | 6.1% | HOLD |
| 7 | SUPNSUPERNUS PHARMACEUTICALS INC | 280,681 | $15M | 5.7% | TRIM −10% |
| 8 | INDVINDIVIOR PHARMACEUTICALS INC COM | 339,532 | $10M | 4.0% | NEW |
| 9 | RAREULTRAGENYX PHARMACEUTICAL IN | 390,879 | $8M | 3.2% | ADD 161% |
| 10 | VNDAVANDA PHARMACEUTICALS INC | 1,180,388 | $8M | 3.2% | HOLD |
| 11 | EMBCEMBECTA CORP | 735,340 | $7M | 2.5% | NEW |
| 12 | GSKGSK PLC | 96,729 | $5M | 2.1% | HOLD |
| 13 | BNTXBIONTECH SE | 59,523 | $5M | 2.1% | TRIM −40% |
| 14 | ALKSALKERMES PLC | 107,822 | $4M | 1.5% | HOLD |
| 15 | BIIBBIOGEN INC | 20,000 | $4M | 1.4% | ADD 100% |
| 16 | REGNREGENERON PHARMACEUTICALS | 4,000 | $3M | 1.2% | HOLD |
| 17 | ARDXARDELYX INC | 500,000 | $3M | 1.2% | NEW |
| 18 | INMDINMODE LTD | 120,942 | $2M | 0.6% | NEW |
| 19 | EOLSEVOLUS INC | 157,985 | $649,000 | 0.3% | ADD 58% |
| 20 | ABTABBOTT LABS | 5,000 | $513,000 | 0.2% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| UTHRUnited Therapeutics Corp. | 92K | 98K | 101K | 98K | 91K | 84K | $50M |
| ENTAENANTA PHARMACEUTICALS INC | 2.1M | 2.1M | 2.1M | 2.1M | 2.8M | 2.9M | $36M |
| JAZZJAZZ PHARMACEUTICALS PLC | 106K | 101K | 165K | 168K | 168K | 168K | $32M |
| BMRNBIOMARIN PHARMACEUTICAL INC | — | — | — | 405K | 525K | 525K | $30M |
| EXELEXELIXIS INC | 966K | 879K | 494K | 519K | 494K | 416K | $18M |
| SNYSANOFI SA | 149K | 149K | 149K | 324K | 324K | 324K | $16M |
| SUPNSUPERNUS PHARMACEUTICALS INC | — | 432K | 472K | 363K | 313K | 281K | $15M |
| INDVINDIVIOR PHARMACEUTICALS INC COM | — | — | — | — | — | 340K | $10M |
| RAREULTRAGENYX PHARMACEUTICAL IN | — | — | — | — | 150K | 391K | $8M |
| VNDAVANDA PHARMACEUTICALS INC | 379K | 754K | 1.0M | 1.2M | 1.2M | 1.2M | $8M |
| EMBCEMBECTA CORP | — | — | — | — | — | 735K | $7M |
| GSKGSK PLC | — | 272K | 272K | 272K | 97K | 97K | $5M |
| BNTXBIONTECH SE | 89K | 88K | 73K | 79K | 100K | 60K | $5M |
| ALKSALKERMES PLC | 238K | 208K | 208K | 208K | 108K | 108K | $4M |
| BIIBBIOGEN INC | 109K | — | — | 10K | 10K | 20K | $4M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
