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Boxer Capital Management, LLC

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13F filer, CIK 2018299, San Diego, CA

Boxer Capital Management, LLC reported $313,726,904 across 34 holdings for the quarter ended 2025-09-30, in a 13F-HR/A filed 2026-02-17. Its ten largest share positions make up 75.24% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0002018299-26-000005

Period
2025-09-30
Reported value
$314M
Holdings
34
Top 10 weight
75.24%
New
15
Sold out
1

Part of the filer group Boxer Capital Management, LLC

  • Aaron Davis
  • Boxer Holdings GP, LLC
  • Boxer Holdings, LP
How groups are built

Stakes and trades reported after 2025-09-30

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • SRZN SURROZEN INC: 13G/A 1,360,683 shares, 11.6% of the class, 13G/A filed 2026-10-07, 0001213900-26-107661Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PTCTnew+200,000$12.3M
CYTKnew+200,000$11M
ABVXnew+120,000$10.2M
INOnew+2,300,000$5.38M
CELCnew+90,000$4.45M

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
MERUS N Vreduced-245,000-$23.1M
RVMDreduced-392,977-$18.4M
ITEOS THERAPEUTICS INCexited-825,000-$8.23M
KYMRreduced-112,910-$6.39M
QUREreduced-99,500-$5.81M

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, Q3 2025

Share positions as resolved from 13F-HR/A 0002018299-26-000005, largest first. % of portfolio is the value over $313,726,904, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 10,380,999 shares; 2025Q1: 10,380,999 shares; 2025Q2: 9,771,485 shares; 2025Q3: 9,771,485 shares 9,771,485$82.1M26.16%0Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 750,000 shares; 2025Q1: 750,000 shares; 2025Q2: 899,500 shares; 2025Q3: 800,000 shares 800,000$46.7M14.88%-99,500Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 4,279,464 shares; 2025Q1: 1,317,977 shares; 2025Q2: 792,977 shares; 2025Q3: 400,000 shares 400,000$18.7M5.95%-392,977Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 425,000 shares; 2025Q1: 325,000 shares; 2025Q2: 432,010 shares; 2025Q3: 319,100 shares 319,100$18.1M5.76%-112,910Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,000,000 shares; 2025Q1: 1,035,000 shares; 2025Q2: 750,000 shares; 2025Q3: 750,000 shares 750,000$12.3M3.91%0Timeline
PTCTPTC THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares 200,000$12.3M3.91%newTimeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,750,000 shares; 2025Q1: 1,750,000 shares; 2025Q2: 1,225,000 shares; 2025Q3: 900,000 shares 900,000$12.2M3.9%-325,000Timeline
URGNUROGEN PHARMA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 575,000 shares; 2025Q3: 575,000 shares 575,000$11.5M3.66%0Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,900,000 shares; 2025Q1: 700,000 shares; 2025Q2: 365,000 shares; 2025Q3: 120,000 shares 120,000$11.3M3.6%-245,000
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares 200,000$11M3.5%newTimeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$10.2M3.25%newTimeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 60,000 shares; 2025Q3: 110,000 shares 110,000$7.31M2.33%+50,000Timeline
NKTRNEKTAR THERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 125,000 shares; 2025Q3: 125,000 shares 125,000$7.11M2.27%0Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 453,686 shares; 2025Q3: 453,686 shares 453,686$5.39M1.72%0Timeline
INOINOVIO PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,300,000 shares 2,300,000$5.38M1.72%newTimeline
SRPTSAREPTA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 25,000 shares; 2025Q3: 250,000 shares 250,000$4.82M1.54%+225,000Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 55,000 shares; 2025Q3: 48,000 shares 48,000$4.6M1.47%-7,000Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 90,000 shares 90,000$4.45M1.42%newTimeline
REPLREPLIMUNE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,796,341 shares; 2025Q1: 1,796,341 shares; 2025Q2: 2,211,341 shares; 2025Q3: 1,050,000 shares 1,050,000$4.4M1.4%-1,161,341Timeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 1,240,700 shares; 2025Q2: not reported; 2025Q3: 600,000 shares 600,000$3.7M1.18%newTimeline
DNLIDENALI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: 250,000 shares; 2025Q2: not reported; 2025Q3: 250,000 shares 250,000$3.63M1.16%newTimeline
PGENPRECIGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 850,000 shares 850,000$2.8M0.89%newTimeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 86,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$1.99M0.63%newTimeline
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 163,500 shares 163,500$1.93M0.61%new
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 250,000 shares 250,000$1.79M0.57%newTimeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 563,067 shares; 2025Q1: 563,067 shares; 2025Q2: 175,000 shares; 2025Q3: 175,000 shares 175,000$1.62M0.52%0Timeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 125,000 shares 125,000$1.59M0.51%newTimeline
MISTMILESTONE PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 309,007 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 666,666 shares 666,666$1.33M0.42%newTimeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 250,000 shares 250,000$1.16M0.37%newTimeline
LBRXLB PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 70,000 shares 70,000$1.11M0.35%newTimeline
TILINSTIL BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 355,500 shares; 2025Q1: 80,125 shares; 2025Q2: 70,700 shares; 2025Q3: 60,700 shares 60,700$1.08M0.35%-10,000Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 1,590,000 shares; 2025Q1: not reported; 2025Q2: 93,400 shares; 2025Q3: 20,400 shares 20,400$248K0.08%-73,000Timeline
NUVATION BIO INCNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 266,666 shares; 2025Q1: 266,666 shares; 2025Q2: 266,666 shares; 2025Q3: 266,666 shares 266,666$53.9K0.02%0
SRZNWSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: 66,666 shares; 2025Q1: 66,666 shares; 2025Q2: 66,666 shares; 2025Q3: 66,666 shares 66,666$1K<0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
ITEOS THERAPEUTICS INCITEOS THERAPEUTICS INC825,000$8.23Mshares

How Q3 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 0002018299-25-000012 superseded2025-11-14acceptance time not in the bulk data set
13F-HR/A 0002018299-26-000005 baserestatement2026-02-17acceptance time not in the bulk data set