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Affinity Asset Advisors, LLC

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13F filer, CIK 1773195, NEW YORK, NY

Affinity Asset Advisors, LLC reported $732,191,133 across 91 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 50.78% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001999371-25-011256

Period
2025-06-30
Reported value
$732M
Holdings
91
Top 10 weight
50.78%
New
23
Sold out
30

Largest buys vs the previous quarter

SecurityShares changeApprox. value
INSMadded+335,000$33.7M
BLUEPRINT MEDICINES CORPnew+250,000$32M
VTYXnew+4,536,182$9.71M
LXEOadded+2,108,474$8.48M
ELVNnew+400,000$8.02M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
APGEreduced-459,300-$19.9M
SPYexited-30,000-$16.8M
MERUS N Vreduced-251,962-$13.3M
CNTAreduced-646,500-$8.5M
INOZYME PHARMA INCreduced-2,118,351-$8.47M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001999371-25-011256, largest first. % of portfolio is the value over $676,265,606, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 660,000 shares; 2025Q1: 615,000 shares; 2025Q2: 610,000 shares 610,000$57.7M8.53%-5,000
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 140,000 shares; 2025Q2: 475,000 shares 475,000$47.8M7.07%+335,000Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,144,021 shares; 2024Q4: 1,161,237 shares; 2025Q1: 1,328,175 shares; 2025Q2: 1,100,000 shares 1,100,000$34.4M5.09%-228,175Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 425,000 shares; 2025Q1: 530,000 shares; 2025Q2: 495,000 shares 495,000$32.6M4.82%-35,000Timeline
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,000 shares 250,000$32M4.74%new
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 337,500 shares; 2024Q4: 285,000 shares; 2025Q1: 460,000 shares; 2025Q2: 415,000 shares 415,000$31.7M4.68%-45,000Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 664,198 shares; 2024Q4: 931,728 shares; 2025Q1: 1,151,199 shares; 2025Q2: 691,899 shares 691,899$30M4.44%-459,300Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,100,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares 1,000,000$28.6M4.23%0Timeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 130,000 shares; 2025Q1: 400,000 shares; 2025Q2: 440,000 shares 440,000$24.3M3.6%+40,000Timeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 82,500 shares; 2025Q1: 80,000 shares; 2025Q2: 80,000 shares 80,000$24.2M3.58%0Timeline
TEVATEVA PHARMACEUTICAL INDS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,400,000 shares; 2024Q4: 1,400,000 shares; 2025Q1: 1,400,000 shares; 2025Q2: 1,400,000 shares 1,400,000$23.5M3.47%0Timeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,480,881 shares; 2025Q2: 3,589,355 shares 3,589,355$14.4M2.13%+2,108,474Timeline
TVTXTRAVERE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 200,000 shares; 2025Q1: 1,070,000 shares; 2025Q2: 970,000 shares 970,000$14.4M2.12%-100,000Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 290,447 shares; 2024Q4: 279,445 shares; 2025Q1: 280,000 shares; 2025Q2: 334,863 shares 334,863$14.3M2.11%+54,863Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,250,000 shares; 2025Q2: 2,534,058 shares 2,534,058$13.9M2.05%+1,284,058Timeline
WVEWAVE LIFE SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,400,000 shares; 2024Q4: 1,500,000 shares; 2025Q1: 1,825,000 shares; 2025Q2: 2,000,308 shares 2,000,308$13M1.92%+175,308Timeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 435,000 shares; 2024Q4: 425,000 shares; 2025Q1: 355,143 shares; 2025Q2: 545,000 shares 545,000$12.8M1.9%+189,857Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 350,000 shares; 2024Q4: 350,000 shares; 2025Q1: 1,100,000 shares; 2025Q2: 900,000 shares 900,000$12.2M1.8%-200,000Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 965,612 shares; 2024Q4: 1,095,924 shares; 2025Q1: 1,546,662 shares; 2025Q2: 900,162 shares 900,162$11.8M1.75%-646,500Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 860,399 shares; 2024Q4: 940,083 shares; 2025Q1: 810,669 shares; 2025Q2: 967,620 shares 967,620$11M1.63%+156,951Timeline
RZLTREZOLUTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,700,000 shares; 2024Q4: 1,575,000 shares; 2025Q1: 1,700,000 shares; 2025Q2: 2,200,000 shares 2,200,000$9.81M1.45%+500,000Timeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,536,182 shares 4,536,182$9.71M1.44%newTimeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 498,420 shares; 2024Q4: 824,328 shares; 2025Q1: 481,678 shares; 2025Q2: 606,678 shares 606,678$9.08M1.34%+125,000Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 400,000 shares 400,000$8.02M1.19%newTimeline
PRQRPROQR THRAPEUTICS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,825,000 shares; 2025Q1: 3,284,512 shares; 2025Q2: 3,499,512 shares 3,499,512$7.14M1.06%+215,000Timeline
AKBAAKEBIA THREAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,500,000 shares; 2025Q2: 1,950,000 shares 1,950,000$7.1M1.05%+450,000Timeline
INOZYME PHARMA INCINOZYME PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,822,318 shares; 2024Q4: 3,972,318 shares; 2025Q1: 3,867,710 shares; 2025Q2: 1,749,359 shares 1,749,359$7M1.03%-2,118,351
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,500,000 shares; 2024Q4: 4,500,000 shares; 2025Q1: 3,045,000 shares; 2025Q2: 3,045,000 shares 3,045,000$6.94M1.03%0Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 349,836 shares; 2024Q4: 368,698 shares; 2025Q1: 545,362 shares; 2025Q2: 603,479 shares 603,479$6.76M1%+58,117Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 200,000 shares; 2025Q1: 300,000 shares; 2025Q2: 150,000 shares 150,000$6.48M0.96%-150,000Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 525,000 shares; 2024Q4: 159,614 shares; 2025Q1: 390,000 shares; 2025Q2: 390,000 shares 390,000$5.45M0.81%0Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,000 shares; 2024Q4: 75,000 shares; 2025Q1: 100,000 shares; 2025Q2: 50,000 shares 50,000$5.22M0.77%-50,000Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,499,431 shares; 2024Q4: 2,499,431 shares; 2025Q1: 3,341,519 shares; 2025Q2: 4,085,787 shares 4,085,787$5.19M0.77%+744,268Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 472,390 shares; 2024Q4: 425,000 shares; 2025Q1: 325,000 shares; 2025Q2: 275,000 shares 275,000$4.98M0.74%-50,000Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 280,031 shares 280,031$4.52M0.67%newTimeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 201,587 shares; 2024Q4: not reported; 2025Q1: 150,000 shares; 2025Q2: 400,000 shares 400,000$4.51M0.67%+250,000Timeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 460,000 shares; 2025Q1: 152,252 shares; 2025Q2: 152,252 shares 152,252$4.38M0.65%0Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 25,000 shares; 2025Q1: 25,000 shares; 2025Q2: 125,000 shares 125,000$4.06M0.6%+100,000Timeline
FRNMPERCEPTIVE CAP SOLUTIONS CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 350,000 shares; 2024Q4: 350,000 shares; 2025Q1: 350,000 shares; 2025Q2: 350,000 shares 350,000$3.71M0.55%0Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,741 shares; 2024Q4: 389,241 shares; 2025Q1: 321,962 shares; 2025Q2: 70,000 shares 70,000$3.68M0.54%-251,962
CATXPERSPECTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 1,300,000 shares; 2025Q1: 2,224,196 shares; 2025Q2: 1,050,000 shares 1,050,000$3.61M0.53%-1,174,196Timeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,000 shares; 2024Q4: 550,765 shares; 2025Q1: 657,154 shares; 2025Q2: 607,872 shares 607,872$3.03M0.45%-49,282Timeline
OACCUOAKTREE ACQUISITION CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares; 2025Q2: 250,000 shares 250,000$2.65M0.39%0Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 25,000 shares 25,000$2.65M0.39%newTimeline
MNPRMONOPAR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 62,000 shares; 2025Q2: 67,500 shares 67,500$2.42M0.36%+5,500Timeline
RAPPRAPPORT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 199,643 shares 199,643$2.27M0.34%newTimeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,500,000 shares; 2024Q4: 2,250,000 shares; 2025Q1: 1,500,000 shares; 2025Q2: 1,500,000 shares 1,500,000$2.12M0.31%0Timeline
THRDTHIRD HARMONIC BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 370,000 shares; 2025Q2: 370,000 shares 370,000$2.01M0.3%0Timeline
CGEMCULLINAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 263,817 shares; 2024Q4: 263,817 shares; 2025Q1: 263,817 shares; 2025Q2: 263,817 shares 263,817$1.99M0.29%0Timeline
NEWAMSTERDAM PHARMA COMPANYNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 212,974 shares; 2024Q4: 237,935 shares; 2025Q1: 241,957 shares; 2025Q2: 245,000 shares 245,000$1.96M0.29%+3,043
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 400,000 shares; 2025Q2: 135,000 shares 135,000$1.88M0.28%-265,000Timeline
CLYMCLIMB BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 1,500,000 shares; 2025Q2: 1,500,000 shares 1,500,000$1.86M0.28%0Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 390,000 shares; 2025Q2: 425,000 shares 425,000$1.61M0.24%+35,000Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 725,106 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 300,000 shares 300,000$1.61M0.24%new
NKTXNKARTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 800,000 shares; 2025Q1: 800,000 shares; 2025Q2: 800,000 shares 800,000$1.33M0.2%0Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 70,742 shares; 2025Q1: 49,692 shares; 2025Q2: 24,692 shares 24,692$1.26M0.19%-25,000Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 700,000 shares; 2024Q4: 410,586 shares; 2025Q1: not reported; 2025Q2: 500,000 shares 500,000$1.14M0.17%newTimeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 325,000 shares; 2025Q2: 250,000 shares 250,000$1.06M0.16%-75,000Timeline
NEXTCURE INCNEXTCURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,302,598 shares; 2024Q4: 2,302,598 shares; 2025Q1: 2,302,598 shares; 2025Q2: 2,302,598 shares 2,302,598$1.06M0.16%0
OKURONKURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 144,159 shares; 2025Q1: 394,159 shares; 2025Q2: 347,990 shares 347,990$832K0.12%-46,169Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 100,000 shares 100,000$765K0.11%-100,000Timeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 65,317 shares 65,317$653K0.1%newTimeline
SUTRO BIOPHARMA INCSUTRO BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 752,722 shares; 2025Q2: 752,722 shares 752,722$537K0.08%0
TSHATAYSHA GENE THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares 200,000$462K0.07%newTimeline
CNTXCONTEXT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,321,153 shares; 2024Q4: 1,015,340 shares; 2025Q1: 660,589 shares; 2025Q2: 518,025 shares 518,025$339K0.05%-142,564Timeline
ENGNENGENE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 77,000 shares 77,000$280K0.04%newTimeline
REPARE THERAPEUTICS INCREPARE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 173,351 shares; 2024Q4: 100,000 shares; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares 200,000$278K0.04%0
ZURAZURA BIO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 223,335 shares; 2024Q4: 223,335 shares; 2025Q1: 223,335 shares; 2025Q2: 223,335 shares 223,335$235K0.03%0Timeline
OVIDOVID THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 667,516 shares; 2025Q2: 667,516 shares 667,516$220K0.03%0Timeline
RADXRADIOPHARM THERANOSTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 156,171 shares; 2025Q1: 64,600 shares; 2025Q2: 35,635 shares 35,635$166K0.02%-28,965Timeline
ADGMADAGIO MED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 213,235 shares; 2024Q4: 213,235 shares; 2025Q1: 213,235 shares; 2025Q2: 80,000 shares 80,000$108K0.02%-133,235Timeline
QTTBQ32 BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,777 shares; 2024Q4: 27,777 shares; 2025Q1: 27,777 shares; 2025Q2: 27,777 shares 27,777$41.4K0.01%0Timeline
RCKTWROCKET PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,000 shares; 2024Q4: 75,000 shares; 2025Q1: 75,000 shares; 2025Q2: 75,000 shares 75,000$2.16K<0.01%0Timeline
IMMATICS N.VIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,204 shares; 2024Q4: 187,204 shares; 2025Q1: 187,204 shares; 2025Q2: 187,204 shares 187,204$112<0.01%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
EXELEXELIXIS INC Stockput450,000$19.8Mnew
AMGNAMGEN INC COMcall40,000$11.2M-30,000
CRSPCRISPR THERAPEUTICS AG Stockcall200,000$9.73Mnew
EXELEXELIXIS INC Stockcall150,000$6.61M+15,000
CAPRCAPRICOR THERAPEUTICS INC COMMON STOCKput175,000$1.74Mnew
NVAXNOVAVAX INC COM NEWcall250,000$1.57Mnew
QUREUNIQURE NV SHScall100,000$1.39Mnew
OMEROMEROS CORP COMput314,000$942Knew
INMBINMUNE BIO INC COMput354,000$818Knew
ALTALTIMMUNE INC COM NEWcall200,000$774Knew
KPTIKARYOPHARM THERAPEUTICS INC COMMON STOCKcall157,500$679Knew
GALTGALECTIN THERAPEUTICS INC COMMON STOCKput250,000$528K-1,586,200
APGEAPOGEE THERAPEUTICS INC Stockput2,500$109Knew
ABUSARBUTUS BIOPHARMA CORP Common Shares, without par valuecall9,300$28.7Knew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
KARYOPHARM THERAPEUTICS INCKARYOPHARM THERAPEUTICS INC BONDprincipal15,250,000$11.6M0
OMEROS CORPOMEROS CORP NOTE 9.500% 6/1principal9,025,000$7.07Mnew
TRAVERE THERAPEUTICS INCTRAVERE THERAPEUTICS INC CNVprincipal7,000,000$6.69M0

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SPYSTATE STR SPDR S&P 500 ETF T400,000$224Mput
IWMISHARES TR300,000$59.8Mput
XBISPDR SERIES TRUST500,000$40.5Mput
SPYSTATE STR SPDR S&P 500 ETF T30,000$16.8Mshares
ALNYALNYLAM PHARMACEUTICALS INC55,000$14.9Mcall
OMEROS CORPOMEROS CORP15,525,000$14.3Mprincipal
PTGXPROTAGONIST THERAPEUTICS INC172,500$8.34Mcall
CORTCORCEPT THERAPEUTICS INC70,000$8Mcall
IMVTIMMUNOVANT INC430,000$7.35Mshares
VERAVERA THERAPEUTICS INC265,000$6.37Mcall
NBIXNEUROCRINE BIOSCIENCES INC50,000$5.53Mshares
EWTXEDGEWISE THERAPEUTICS INC200,000$4.4Mput
SLNOSOLENO THERAPEUTICS INC50,000$3.57Mshares
MLYSMINERALYS THERAPEUTICS INC200,000$3.18Mput
IBRXIMMUNITYBIO INC1,025,000$3.09Mput
MAZEMAZE THERAPEUTICS INC250,000$2.75Mshares
KYMRKYMERA THERAPEUTICS INC100,000$2.74Mshares
CMPXCOMPASS THERAPEUTICS INC1,330,700$2.53Mput
NAMSNEWAMSTERDAM PHARMA COMPANY99,800$2.04Mcall
AEROVATE THERAPEUTICS INCAEROVATE THERAPEUTICS INC800,000$2.01Mshares
NAMSNEWAMSTERDAM PHARMA COMPANY75,000$1.54Mput
Tourmaline Bio IncTourmaline Bio Inc100,000$1.52Mcall
MBXMBX BIOSCIENCES INC175,000$1.29Mshares
89BIO INC89BIO INC175,000$1.27Mshares
MGTXMEIRAGTX HLDGS PLC150,000$1.02Mshares
VKTXVIKING THERAPEUTICS INC25,000$604Kshares
BDTXBLACK DIAMOND THERAPEUTICS I250,000$388Kshares
CMPXCOMPASS THERAPEUTICS INC130,807$249Kshares
OMEROMEROS CORP9,958$81.9Kshares
ALLAKOS INCALLAKOS INC250,000$56.9Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001999371-25-011256 base2025-08-13acceptance time not in the bulk data set