CIK 2043476
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 | 97.10% | 18 |
| Health Care Equipment & Supplies | 2.71% | 1 |
| Unclassified | 0.19% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | ADMA | ADMA BIOLOGICS, INC. | Health Care | 21.43% |
| 2 | PALI | PALISADE BIO, INC. | Health Care | 14.81% |
| 3 | PRAX | Praxis Precision Medicines, Inc. | Health Care | 7.94% |
| 4 | CLLS | Cellectis S.A. | Health Care | 7.71% |
| 5 | ZLAB | Zai Lab Ltd | Health Care | 6.28% |
| 6 | TSHA | Taysha Gene Therapies, Inc. | Health Care | 5.97% |
| 7 | NRXP | NRX Pharmaceuticals, Inc. | Health Care | 4.74% |
| 8 | GPCR | Structure Therapeutics Inc. | Health Care | 4.56% |
| 9 | IOVA | IOVANCE BIOTHERAPEUTICS, INC. | Health Care | 3.90% |
| 10 | SYRE | Spyre Therapeutics, Inc. | Health Care | 3.74% |
19/20 names classified · sector 99.8% of weight · industry 99.8% · mkt cap 88.5%; 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: 99.8% of the book is sector-classified (unclassified names shown, never dropped).
Only 21% of book weight classified — the grid is NOT representative of the whole book.
Classified: 21.4% of book weight (1/20 names) · unclassified 78.6%: PALI, PRAX, CLLS, ZLAB, TSHA, NRXP, GPCR, IOVA, SYRE, DRUG +9 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 | ADMAADMA BIOLOGICS INC | 3,207,542 | $29M | 21.4% | ADD 31% |
| 2 | PALIPALISADE BIO INC | 11,414,285 | $20M | 14.8% | ADD 154% |
| 3 | PRAXPRAXIS PRECISION MEDICINES I | 33,237 | $11M | 7.9% | HOLD |
| 4 | CLLSCELLECTIS S A | 3,281,501 | $10M | 7.7% | HOLD |
| 5 | ZLABZAI LAB LTD | 450,646 | $8M | 6.3% | ADD 13% |
| 6 | TSHATAYSHA GENE THERAPIES INC | 1,800,556 | $8M | 6.0% | HOLD |
| 7 | NRXPNRX PHARMACEUTICALS INC | 3,000,000 | $6M | 4.7% | NEW |
| 8 | GPCRSTRUCTURE THERAPEUTICS INC | 127,500 | $6M | 4.6% | ADD 42% |
| 9 | IOVAIOVANCE BIOTHERAPEUTICS INC | 1,500,000 | $5M | 3.9% | HOLD |
| 10 | SYRESPYRE THERAPEUTICS INC | 100,000 | $5M | 3.7% | HOLD |
| 11 | DRUGBRIGHT MINDS BIOSCIENCES INC | 67,500 | $5M | 3.7% | NEW |
| 12 | ASMBASSEMBLY BIOSCIENCES INC | 175,706 | $5M | 3.6% | HOLD |
| 13 | AURAAURA BIOSCIENCES INC | 597,576 | $4M | 3.0% | ADD 4% |
| 14 | ORKAORUKA THERAPEUTICS INC | 75,000 | $4M | 2.7% | HOLD |
| 15 | SGHTSIGHT SCIENCES INC | 970,000 | $4M | 2.7% | ADD 5% |
| 16 | RAREULTRAGENYX PHARMACEUTICAL IN | 135,000 | $3M | 2.1% | HOLD |
| 17 | APGEAPOGEE THERAPEUTICS INC | 7,500 | $631,275 | 0.5% | TRIM −63% |
| 18 | FHTXFOGHORN THERAPEUTICS INC | 102,000 | $487,560 | 0.4% | NEW |
| 19 | SOLENO THERAPEUTICS INC | 7,500 | $251,100 | 0.2% | NEW |
| 20 | REPLREPLIMUNE GROUP INC | 26,000 | $198,900 | 0.1% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| ADMAADMA BIOLOGICS INC | 2.3M | 2.3M | 2.3M | 2.4M | 2.5M | 3.2M | $29M |
| PALIPALISADE BIO INC | — | — | — | — | 4.5M | 11.4M | $20M |
| PRAXPRAXIS PRECISION MEDICINES I | — | 19K | 35K | 32K | 33K | 33K | $11M |
| CLLSCELLECTIS S A | 3.1M | 3.3M | 3.3M | 3.3M | 3.3M | 3.3M | $10M |
| ZLABZAI LAB LTD | 400K | 400K | 400K | 400K | 400K | 451K | $8M |
| TSHATAYSHA GENE THERAPIES INC | 966K | 1.3M | 1.8M | 1.8M | 1.8M | 1.8M | $8M |
| NRXPNRX PHARMACEUTICALS INC | — | — | — | — | — | 3.0M | $6M |
| GPCRSTRUCTURE THERAPEUTICS INC | — | — | — | — | 90K | 128K | $6M |
| IOVAIOVANCE BIOTHERAPEUTICS INC | 992K | 1.5M | 1.5M | 1.5M | 1.5M | 1.5M | $5M |
| SYRESPYRE THERAPEUTICS INC | 50K | 70K | 80K | 100K | 100K | 100K | $5M |
| DRUGBRIGHT MINDS BIOSCIENCES INC | — | — | — | — | — | 68K | $5M |
| ASMBASSEMBLY BIOSCIENCES INC | 51K | 200K | 189K | 176K | 176K | 176K | $5M |
| AURAAURA BIOSCIENCES INC | 473K | 473K | 573K | 573K | 573K | 598K | $4M |
| ORKAORUKA THERAPEUTICS INC | 20K | 58K | 75K | 75K | 75K | 75K | $4M |
| SGHTSIGHT SCIENCES INC | 629K | 834K | 930K | 930K | 920K | 970K | $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.
