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BML Capital Management, LLC

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13F filer, CIK 1616824, ZIONSVILLE, IN

BML Capital Management, LLC reported $115,689,485 across 16 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-03. Its ten largest share positions make up 97.78% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001754960-26-000146

Period
2025-12-31
Reported value
$116M
Holdings
16
Top 10 weight
97.78%
New
5
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KMXnew+155,000$5.99M
TGTadded+27,500$2.69M
OMnew+543,180$2.02M
PLRXnew+1,546,137$1.89M
AVIRadded+16,037$57.3K

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
ADVERUM BIOTECHNOLOGIES INCexited-3,057,526-$13.9M
ALMSexited-1,210,415-$4.83M
LAVA THERAPEUTICS NVexited-1,970,610-$3.07M
CNTBreduced-858,613-$2.42M
LONAexited-323,066-$1.34M

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, Q4 2025

Share positions as resolved from 13F-HR 0001754960-26-000146, largest first. % of portfolio is the value over $112,976,035, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,250,000 shares; 2024Q4: 14,250,000 shares; 2025Q1: 14,250,000 shares; 2025Q2: 14,250,000 shares; 2025Q3: 14,250,000 shares; 2025Q4: 14,250,000 shares 14,250,000$42.9M37.97%0Timeline
AVIRATEA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,650,000 shares; 2024Q4: 7,608,312 shares; 2025Q1: 7,609,812 shares; 2025Q2: 7,609,812 shares; 2025Q3: 7,473,963 shares; 2025Q4: 7,490,000 shares 7,490,000$26.7M23.67%+16,037Timeline
ORMPORAMED PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,186,191 shares; 2024Q4: 2,643,907 shares; 2025Q1: 3,020,748 shares; 2025Q2: 3,083,253 shares; 2025Q3: 3,167,231 shares; 2025Q4: 3,167,231 shares 3,167,231$9.03M7.99%0Timeline
TILINSTIL BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 335,000 shares; 2024Q4: 400,000 shares; 2025Q1: 416,720 shares; 2025Q2: 534,899 shares; 2025Q3: 645,600 shares; 2025Q4: 645,600 shares 645,600$7.1M6.29%0Timeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,688,772 shares; 2024Q4: 3,466,684 shares; 2025Q1: 3,747,612 shares; 2025Q2: 5,000,000 shares; 2025Q3: 5,292,000 shares; 2025Q4: 5,292,000 shares 5,292,000$6.62M5.86%0Timeline
KMXCARMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 155,000 shares 155,000$5.99M5.3%newTimeline
KZRKEZAR LIFE SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 48,668 shares; 2025Q1: 408,138 shares; 2025Q2: 635,183 shares; 2025Q3: 720,787 shares; 2025Q4: 720,787 shares 720,787$4.53M4.01%0Timeline
TGTTARGET CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares; 2025Q4: 37,500 shares 37,500$3.67M3.24%+27,500Timeline
OMOUTSET MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 543,180 shares 543,180$2.02M1.78%newTimeline
PLRXPLIANT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,546,137 shares 1,546,137$1.89M1.67%newTimeline
IMAIMAGENEBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 182,509 shares; 2025Q4: 177,026 shares 177,026$1.22M1.08%-5,483Timeline
CNTBCONNECT BIOPHARMA HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,267,500 shares; 2025Q4: 408,887 shares 408,887$1.15M1.02%-858,613Timeline
LSTALISATA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 284,669 shares; 2024Q4: 284,669 shares; 2025Q1: 216,853 shares; 2025Q2: 209,814 shares; 2025Q3: 109,841 shares; 2025Q4: 73,348 shares 73,348$136K0.12%-36,493Timeline

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
CVNACARVANA CO Stockput150$2.02Mnew
WMTWALMART INC COMput335$492K+70
TSLATESLA INC COMput1,000$205Knew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INC3,057,526$13.9Mshares
ALMSALUMIS INC1,210,415$4.83Mshares
LAVA THERAPEUTICS NVLAVA THERAPEUTICS NV1,970,610$3.07Mshares
LONALEONABIO INC323,066$1.34Mshares
ASTCASTROTECH CORP220,410$1.08Mshares
VTGNVISTAGEN THERAPEUTICS INC150,000$532Kshares
ARVNARVINAS INC50,000$426Kshares
MURAL ONCOLOGY PUB LTD COMURAL ONCOLOGY PUB LTD CO57,500$119Kshares
THRDTHIRD HARMONIC BIO INC3,824,417$0shares

How Q4 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 0001754960-26-000146 base2026-02-03acceptance time not in the bulk data set