Skip to content
Disclosery

Logos Global Management LP

Follow

13F filer, CIK 1792126, San Francisco, CA

Logos Global Management LP reported $1,654,958,467 across 69 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 50.22% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-001209

Period
2025-12-31
Reported value
$1.65B
Holdings
69
Top 10 weight
50.22%
New
24
Sold out
14

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PRAXadded+250,000$73.7M
TERNnew+750,000$30.3M
IDYAadded+875,000$30.2M
TNGXadded+3,250,000$28.8M
IMVTadded+1,100,000$28M

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
AKROexited-1,200,000-$57M
ARVNexited-5,575,000-$47.5M
DYNreduced-1,150,000-$22.5M
PTGXexited-300,000-$19.9M
VSTMreduced-2,350,000-$18.1M

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 0001172661-26-001209, largest first. % of portfolio is the value over $1,500,685,467, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,200,000 shares; 2024Q4: 1,450,000 shares; 2025Q1: 1,600,000 shares; 2025Q2: 1,700,000 shares; 2025Q3: 1,750,000 shares; 2025Q4: 2,000,000 shares 2,000,000$159M10.62%+250,000Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly 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: 225,000 shares; 2025Q3: 125,000 shares; 2025Q4: 375,000 shares 375,000$111M7.37%+250,000Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,100,000 shares; 2024Q4: 3,000,000 shares; 2025Q1: 3,500,000 shares; 2025Q2: 3,345,000 shares; 2025Q3: 2,250,000 shares; 2025Q4: 3,125,000 shares 3,125,000$108M7.2%+875,000Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,208,875 shares; 2024Q4: 3,208,875 shares; 2025Q1: 3,208,875 shares; 2025Q2: 3,208,875 shares; 2025Q3: 3,208,875 shares; 2025Q4: 3,208,875 shares 3,208,875$80.2M5.35%0Timeline
CDTXCIDARA 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: 190,000 shares; 2025Q3: 375,000 shares; 2025Q4: 310,000 shares 310,000$68.5M4.56%-65,000Timeline
ABVXABIVAX SAQuarterly 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: 415,000 shares; 2025Q4: 400,000 shares 400,000$53.9M3.59%-15,000Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,900,000 shares; 2024Q4: 12,500,000 shares; 2025Q1: 13,000,000 shares; 2025Q2: 15,000,000 shares; 2025Q3: 15,150,000 shares; 2025Q4: 13,000,000 shares 13,000,000$48.4M3.22%-2,150,000Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,500,000 shares; 2024Q4: 3,500,000 shares; 2025Q1: 2,300,000 shares; 2025Q2: 2,200,000 shares; 2025Q3: 3,250,000 shares; 2025Q4: 3,500,000 shares 3,500,000$42.5M2.83%+250,000Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,250,000 shares; 2024Q4: 700,000 shares; 2025Q1: 425,000 shares; 2025Q2: 850,000 shares; 2025Q3: 850,000 shares; 2025Q4: 600,000 shares 600,000$41.7M2.78%-250,000Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 935,000 shares; 2024Q4: 200,000 shares; 2025Q1: 394,342 shares; 2025Q2: 700,000 shares; 2025Q3: 450,000 shares; 2025Q4: 510,000 shares 510,000$40.5M2.7%+60,000Timeline
MAZEMAZE 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: 936,914 shares; 2025Q2: 611,914 shares; 2025Q3: 1,227,300 shares; 2025Q4: 950,000 shares 950,000$39.4M2.62%-277,300Timeline
TNGXTANGO 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: 950,000 shares; 2025Q4: 4,200,000 shares 4,200,000$37.2M2.48%+3,250,000Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 350,000 shares; 2025Q2: 950,000 shares; 2025Q3: 600,000 shares; 2025Q4: 500,000 shares 500,000$36.1M2.4%-100,000Timeline
BIIBBIOGEN 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: 200,000 shares; 2025Q3: 100,000 shares; 2025Q4: 200,000 shares 200,000$35.2M2.35%+100,000Timeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,100,000 shares; 2024Q4: 300,000 shares; 2025Q1: 275,000 shares; 2025Q2: 275,000 shares; 2025Q3: 275,000 shares; 2025Q4: 1,375,000 shares 1,375,000$35M2.33%+1,100,000Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 175,000 shares; 2025Q1: not reported; 2025Q2: 450,000 shares; 2025Q3: 200,000 shares; 2025Q4: 200,000 shares 200,000$34M2.27%0Timeline
TERNTERNS PHARMACEUTICALS 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: 750,000 shares 750,000$30.3M2.02%newTimeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 300,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 625,000 shares; 2025Q4: 650,000 shares 650,000$30M2%+25,000Timeline
IMCRIMMUNOCORE HLDGS PLCQuarterly 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: 575,000 shares; 2025Q3: 850,000 shares; 2025Q4: 850,000 shares 850,000$29.5M1.97%0Timeline
LBRXLB PHARMACEUTICALS 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: 1,130,000 shares; 2025Q4: 1,200,000 shares 1,200,000$26.7M1.78%+70,000Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 450,000 shares; 2025Q1: 500,000 shares; 2025Q2: 1,900,000 shares; 2025Q3: 2,400,000 shares; 2025Q4: 1,250,000 shares 1,250,000$24.4M1.63%-1,150,000Timeline
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,217,627 shares; 2024Q4: 4,217,627 shares; 2025Q1: 4,217,627 shares; 2025Q2: 4,217,627 shares; 2025Q3: 3,655,000 shares; 2025Q4: 2,500,000 shares 2,500,000$23.4M1.56%-1,155,000Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 350,000 shares; 2025Q2: 200,000 shares; 2025Q3: not reported; 2025Q4: 1,750,000 shares 1,750,000$23.1M1.54%newTimeline
ACADACADIA PHARMACEUTICALS 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: 850,000 shares 850,000$22.7M1.51%newTimeline
RYTMRHYTHM PHARMACEUTICALS 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: 130,000 shares; 2025Q3: 200,000 shares; 2025Q4: 190,000 shares 190,000$20.3M1.36%-10,000Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,750,000 shares; 2024Q4: 1,250,000 shares; 2025Q1: 424,715 shares; 2025Q2: 850,000 shares; 2025Q3: 2,200,000 shares; 2025Q4: 1,550,000 shares 1,550,000$19.4M1.29%-650,000Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 900,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$19.1M1.27%newTimeline
MIRMMIRUM PHARMACEUTICALS 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: 225,000 shares 225,000$17.8M1.18%newTimeline
QUREUNIQURE NVQuarterly 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: 300,000 shares; 2025Q4: 675,000 shares 675,000$16.2M1.08%+375,000Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly 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: 450,000 shares 450,000$15.8M1.05%newTimeline
KNSAKINIKSA PHARMACEUTICALS INTLQuarterly 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: 350,000 shares 350,000$14.4M0.96%newTimeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 350,000 shares; 2025Q1: 250,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$13.9M0.93%newTimeline
JANXJANUX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,250,000 shares; 2025Q1: 1,650,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 935,000 shares; 2025Q4: 1,000,000 shares 1,000,000$13.8M0.92%+65,000Timeline
NERVMINERVA NEUROSCIENCES 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: 3,311,000 shares 3,311,000$13.3M0.89%newTimeline
VSTMVERASTEM 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: 1,000,000 shares; 2025Q3: 4,050,000 shares; 2025Q4: 1,700,000 shares 1,700,000$13.1M0.87%-2,350,000Timeline
DNTHDIANTHUS 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: 200,000 shares; 2025Q4: 315,000 shares 315,000$13M0.87%+115,000Timeline
AMLXAMYLYX PHARMACEUTICALS 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: 1,450,000 shares; 2025Q4: 950,000 shares 950,000$11.5M0.76%-500,000Timeline
KYMRKYMERA 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: 250,000 shares; 2025Q4: 130,000 shares 130,000$10.1M0.67%-120,000Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 900,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 600,000 shares; 2025Q3: not reported; 2025Q4: 350,000 shares 350,000$9.51M0.63%newTimeline
NRIXNURIX 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: 500,000 shares 500,000$9.48M0.63%newTimeline
CGONCG ONCOLOGY 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: 200,000 shares 200,000$8.3M0.55%newTimeline
ACLXARCELLX 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: 165,000 shares; 2025Q4: 115,000 shares 115,000$7.5M0.5%-50,000Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly 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: 553,686 shares; 2025Q3: 600,000 shares; 2025Q4: 600,000 shares 600,000$7.12M0.47%0Timeline
CMPXCOMPASS 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: 2,050,000 shares; 2025Q4: 1,150,000 shares 1,150,000$6.18M0.41%-900,000Timeline
JBIOJADE BIOSCIENCES 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: 625,000 shares; 2025Q3: 625,000 shares; 2025Q4: 395,000 shares 395,000$6.09M0.41%-230,000Timeline
TYRATYRA BIOSCIENCES 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: 210,000 shares 210,000$5.52M0.37%newTimeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 495,000 shares; 2024Q4: 140,000 shares; 2025Q1: 240,000 shares; 2025Q2: 350,000 shares; 2025Q3: 340,000 shares; 2025Q4: 340,000 shares 340,000$5.24M0.35%0Timeline
IMMXIMMIX BIOPHARMA 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: 1,000,000 shares 1,000,000$5.23M0.35%newTimeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly 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: 525,000 shares; 2025Q4: 200,000 shares 200,000$5M0.33%-325,000Timeline
NGNENEUROGENE 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: 195,000 shares 195,000$4.02M0.27%newTimeline
IBIOIBIO 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: 2,000,000 shares 2,000,000$3.86M0.26%newTimeline
CRVSCORVUS PHARMACEUTICALS 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: 500,000 shares 500,000$3.85M0.26%newTimeline
ORICORIC PHARMACEUTICALS 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: 450,000 shares 450,000$3.68M0.25%newTimeline
DAWNDAY ONE BIOPHARMACEUTICALS IQuarterly 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: 300,000 shares 300,000$2.8M0.19%newTimeline
PHVSPHARVARIS N VQuarterly 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: 150,000 shares; 2025Q4: 100,000 shares 100,000$2.77M0.18%-50,000Timeline
UNCYUNICYCIVE 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: 473,562 shares; 2025Q3: 473,563 shares; 2025Q4: 473,563 shares 473,563$2.73M0.18%0Timeline
GUTSFRACTYL HEALTH 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: 500,000 shares; 2025Q4: 1,100,000 shares 1,100,000$2.42M0.16%+600,000Timeline
PTNPALATIN TECHNOLOGIES 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: 140,000 shares 140,000$2.15M0.14%newTimeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,222,222 shares; 2025Q1: 2,222,222 shares; 2025Q2: 1,850,000 shares; 2025Q3: 1,500,000 shares; 2025Q4: 600,000 shares 600,000$1.81M0.12%-900,000Timeline
VORVOR BIOPHARMA 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: 100,000 shares 100,000$1.31M0.09%newTimeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly 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: 500,000 shares; 2025Q4: 1,850,000 shares 1,850,000$771K0.05%+1,350,000Timeline
SEPNSEPTERNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 134,202 shares; 2025Q1: 134,202 shares; 2025Q2: 109,202 shares; 2025Q3: 83,548 shares; 2025Q4: 23,548 shares 23,548$657K0.04%-60,000Timeline
DBVTDBV TECHNOLOGIES S AQuarterly 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: 25,000 shares 25,000$479K0.03%newTimeline
NUVATION BIO INCNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 66,666 shares; 2025Q1: 66,666 shares; 2025Q2: 66,666 shares; 2025Q3: 66,666 shares; 2025Q4: 66,666 shares 66,666$22K<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
RVMDREVOLUTION MEDICINES INC Stockcall1,000,000$79.7M0
APLSAPELLIS PHARMACEUTICALS INC COMcall1,000,000$25.1M0
RCUSARCUS BIOSCIENCES INC COMcall1,050,000$25Mnew
IDYAIDEAYA BIOSCIENCES INC Stockcall450,000$15.6M0
IMTXIMMATICS N.V SHScall850,000$8.93Mnew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
AKROAKERO THERAPEUTICS INC1,200,000$57Mshares
ARVNARVINAS INC5,575,000$47.5Mshares
PTGXPROTAGONIST THERAPEUTICS INC300,000$19.9Mshares
KROSKEROS THERAPEUTICS INC850,000$13.4Mshares
JANXJANUX THERAPEUTICS INC500,000$12.2Mcall
LRMRLARIMAR THERAPEUTICS INC2,500,000$8.07Mcall
COGTCOGENT BIOSCIENCES INC500,000$7.18Mshares
IMRXIMMUNEERING CORP950,000$6.65Mshares
SRRKSCHOLAR ROCK HLDG CORP175,000$6.52Mshares
EPRXEUPRAXIA PHARMACEUTICALS INC900,000$5.31Mshares
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INC500,000$3.64Mshares
PEPGPEPGEN INC750,000$3.46Mshares
ESPRESPERION THERAPEUTICS INC NE750,000$1.99Mshares
ALECALECTOR INC500,000$1.48Mcall

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 0001172661-26-001209 base2026-02-17acceptance time not in the bulk data set