CIK 1727492
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 | 98.25% | 22 |
| Health Care Equipment & Supplies | 1.47% | 1 |
| Unclassified | 0.28% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | LQDA | Liquidia Corp | Health Care | 21.67% |
| 2 | ABVX | Abivax S.A. | Health Care | 11.51% |
| 3 | RVMD | Revolution Medicines, Inc. | Health Care | 11.37% |
| 4 | PCVX | Vaxcyte, Inc. | Health Care | 8.47% |
| 5 | XENE | Xenon Pharmaceuticals Inc. | Health Care | 5.73% |
| 6 | MLYS | Mineralys Therapeutics, Inc. | Health Care | 5.31% |
| 7 | EXEL | EXELIXIS, INC. | Health Care | 4.71% |
| 8 | TNGX | Tango Therapeutics, Inc. | Health Care | 3.56% |
| 9 | TYRA | Tyra Biosciences, Inc. | Health Care | 3.46% |
| 10 | SYRE | Spyre Therapeutics, Inc. | Health Care | 3.13% |
23/24 names classified · sector 99.7% of weight · industry 99.7% · mkt cap 86.3%; 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: 99.7% of the book is sector-classified (unclassified names shown, never dropped).
Only 8% of book weight classified — the grid is NOT representative of the whole book.
Classified: 7.7% of book weight (2/24 names) · unclassified 92.3%: LQDA, ABVX, RVMD, PCVX, XENE, MLYS, TNGX, TYRA, SYRE, LBRX +12 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 | LQDALIQUIDIA CORPORATION | 8,118,892 | $306M | 21.7% | HOLD |
| 2 | ABVXABIVAX SA | 1,461,924 | $163M | 11.5% | HOLD |
| 3 | RVMDREVOLUTION MEDICINES INC | 1,652,808 | $161M | 11.4% | ADD 29% |
| 4 | PCVXVAXCYTE INC | 2,060,719 | $120M | 8.5% | ADD 21% |
| 5 | XENEXENON PHARMACEUTICALS INC | 1,393,027 | $81M | 5.7% | ADD 153% |
| 6 | MLYSMINERALYS THERAPEUTICS INC | 2,772,654 | $75M | 5.3% | HOLD |
| 7 | EXELEXELIXIS INC | 1,553,262 | $67M | 4.7% | HOLD |
| 8 | TNGXTANGO THERAPEUTICS INC | 2,408,798 | $50M | 3.6% | TRIM −35% |
| 9 | TYRATYRA BIOSCIENCES INC | 1,276,968 | $49M | 3.5% | ADD 35% |
| 10 | SYRESPYRE THERAPEUTICS INC | 878,127 | $44M | 3.1% | NEW |
| 11 | ADMAADMA BIOLOGICS INC | 4,756,511 | $43M | 3.0% | ADD 58% |
| 12 | LBRXLB PHARMACEUTICALS INC | 1,438,070 | $35M | 2.4% | NEW |
| 13 | VORVOR BIOPHARMA INC | 1,925,066 | $34M | 2.4% | ADD 108% |
| 14 | SABSSAB BIOTHERAPEUTICS INC | 7,967,207 | $31M | 2.2% | NEW |
| 15 | IRDOPUS GENETICS INC | 6,075,028 | $28M | 2.0% | NEW |
| 16 | IVAINVENTIVA SA | 4,974,906 | $28M | 2.0% | ADD 149% |
| 17 | MBXMBX BIOSCIENCES INC | 848,590 | $25M | 1.8% | NEW |
| 18 | AVTXAVALO THERAPEUTICS INC | 1,635,023 | $24M | 1.7% | ADD 85% |
| 19 | ANIKANIKA THERAPEUTICS INC | 1,435,130 | $21M | 1.5% | HOLD |
| 20 | MAZEMAZE THERAPEUTICS INC | 614,962 | $18M | 1.3% | ADD 12% |
| 21 | VRCAVERRICA PHARMACEUTICALS INC | 923,910 | $5M | 0.3% | HOLD |
| 22 | FTHSENSEI BIOTHERAPEUTICS INC | 126,002 | $4M | 0.3% | NEW |
| 23 | AURAAURA BIOSCIENCES INC | 229,864 | $2M | 0.1% | NEW |
| 24 | XLOXILIO THERAPEUTICS INC | 112,128 | $942,996 | 0.1% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| LQDALIQUIDIA CORPORATION | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | 8.1M | $306M |
| ABVXABIVAX SA | 752K | 1.3M | 1.7M | 1.5M | 1.5M | 1.5M | $163M |
| RVMDREVOLUTION MEDICINES INC | — | 465K | 637K | 1.1M | 1.3M | 1.7M | $161M |
| PCVXVAXCYTE INC | — | — | — | — | 1.7M | 2.1M | $120M |
| XENEXENON PHARMACEUTICALS INC | — | — | — | 445K | 550K | 1.4M | $81M |
| MLYSMINERALYS THERAPEUTICS INC | 1.0M | 2.1M | 2.0M | 2.8M | 2.8M | 2.8M | $75M |
| EXELEXELIXIS INC | 1.5M | 1.5M | 1.5M | 1.5M | 1.6M | 1.6M | $67M |
| TNGXTANGO THERAPEUTICS INC | — | — | — | — | 3.7M | 2.4M | $50M |
| TYRATYRA BIOSCIENCES INC | — | 25K | 190K | 697K | 944K | 1.3M | $49M |
| SYRESPYRE THERAPEUTICS INC | — | — | — | — | — | 878K | $44M |
| ADMAADMA BIOLOGICS INC | — | — | — | 2.6M | 3.0M | 4.8M | $43M |
| LBRXLB PHARMACEUTICALS INC | — | — | — | — | — | 1.4M | $35M |
| VORVOR BIOPHARMA INC | — | — | — | — | 925K | 1.9M | $34M |
| SABSSAB BIOTHERAPEUTICS INC | — | — | — | — | — | 8.0M | $31M |
| IRDOPUS GENETICS INC | — | — | — | — | — | 6.1M | $28M |
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.
