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MONTANOVA CAPITAL, LLC

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13F filer, CIK 1569064, New York, NY

MONTANOVA CAPITAL, LLC reported $3,317,228,054 across 98 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 40.85% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-003289

Period
2025-06-30
Reported value
$3.32B
Holdings
98
Top 10 weight
40.85%
New
12
Sold out
14

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KOadded+817,510$57.8M
DKSnew+260,465$51.5M
GEHCnew+532,280$39.4M
DHRadded+161,100$31.8M
GEadded+109,600$28.2M

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
INSMreduced-1,253,600-$126M
INTRA-CELLULAR THERAPIES INCexited-700,904-$92.5M
MSFTreduced-81,297-$40.4M
UALreduced-355,974-$28.3M
CMGexited-539,540-$27.1M

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, Q2 2025

Share positions as resolved from 13F-HR 0001172661-25-003289, largest first. % of portfolio is the value over $2,654,145,579, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ARQTARCUTIS BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,721,511 shares; 2024Q4: 11,399,138 shares; 2025Q1: 11,422,978 shares; 2025Q2: 11,535,582 shares 11,535,582$162M6.09%+112,604Timeline
89BIO INC89BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,991,644 shares; 2024Q4: 10,202,696 shares; 2025Q1: 14,335,244 shares; 2025Q2: 14,210,000 shares 14,210,000$140M5.26%-125,244
LEGNLEGEND BIOTECH 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: 3,496,234 shares; 2025Q1: 3,749,965 shares; 2025Q2: 3,774,009 shares 3,774,009$134M5.05%+24,044Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 168,488 shares; 2024Q4: 170,338 shares; 2025Q1: 179,664 shares; 2025Q2: 169,845 shares 169,845$125M4.72%-9,819Timeline
BNTCBENITEC BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,829,053 shares; 2024Q4: 8,960,009 shares; 2025Q1: 9,876,506 shares; 2025Q2: 9,876,506 shares 9,876,506$116M4.35%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 588,912 shares; 2024Q4: 1,137,853 shares; 2025Q1: 415,720 shares; 2025Q2: 1,233,230 shares 1,233,230$87.3M3.29%+817,510Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,151,314 shares; 2024Q4: 1,151,314 shares; 2025Q1: 2,024,500 shares; 2025Q2: 2,278,000 shares 2,278,000$82.8M3.12%+253,500Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,662 shares; 2024Q4: 200,662 shares; 2025Q1: 200,662 shares; 2025Q2: 310,262 shares 310,262$79.9M3.01%+109,600Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,199,219 shares; 2024Q4: 5,620,271 shares; 2025Q1: 5,620,271 shares; 2025Q2: 5,620,271 shares 5,620,271$79.3M2.99%0Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 180,756 shares; 2025Q1: 352,765 shares; 2025Q2: 499,562 shares 499,562$78.9M2.97%+146,797Timeline
AVBPARRIVENT BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,845,162 shares; 2024Q4: 2,246,000 shares; 2025Q1: 2,337,496 shares; 2025Q2: 3,412,788 shares 3,412,788$74.3M2.8%+1,075,292Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 348,742 shares; 2024Q4: 345,912 shares; 2025Q1: 350,514 shares; 2025Q2: 300,401 shares 300,401$68M2.56%-50,113Timeline
IMTXIMMATICS 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: 5,065,277 shares; 2025Q1: 9,135,029 shares; 2025Q2: 12,030,129 shares 12,030,129$64.7M2.44%+2,895,100Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,175,823 shares; 2024Q4: 6,783,091 shares; 2025Q1: 6,804,091 shares; 2025Q2: 6,804,091 shares 6,804,091$64M2.41%0Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 465,050 shares; 2024Q4: 464,140 shares; 2025Q1: 396,540 shares; 2025Q2: 428,460 shares 428,460$60.8M2.29%+31,920Timeline
AMDADVANCED MICRO DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 346,575 shares; 2024Q4: 337,415 shares; 2025Q1: 404,008 shares; 2025Q2: 398,799 shares 398,799$56.6M2.13%-5,209Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 352,069 shares; 2024Q4: 351,281 shares; 2025Q1: 354,356 shares; 2025Q2: 257,625 shares 257,625$56.5M2.13%-96,731Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,212,005 shares; 2024Q4: 4,913,012 shares; 2025Q1: 4,913,012 shares; 2025Q2: 4,955,000 shares 4,955,000$56M2.11%+41,988Timeline
DKSDICKS SPORTING GOODS 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: 260,465 shares 260,465$51.5M1.94%newTimeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 237,094 shares; 2024Q4: 226,318 shares; 2025Q1: 226,318 shares; 2025Q2: 230,728 shares 230,728$50.4M1.9%+4,410Timeline
APLSAPELLIS 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: 793,187 shares; 2025Q1: 1,646,615 shares; 2025Q2: 2,878,000 shares 2,878,000$49.8M1.88%+1,231,385Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 96,526 shares; 2024Q4: 118,397 shares; 2025Q1: 180,125 shares; 2025Q2: 98,828 shares 98,828$49.2M1.85%-81,297Timeline
HDHOME DEPOT 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: 97,571 shares; 2025Q2: 130,721 shares 130,721$47.9M1.81%+33,150Timeline
KURAKURA ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,652,782 shares; 2024Q4: 5,076,448 shares; 2025Q1: 7,439,259 shares; 2025Q2: 8,116,000 shares 8,116,000$46.8M1.76%+676,741Timeline
BACBANK OF AMER 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: 753,913 shares; 2025Q2: 927,190 shares 927,190$43.9M1.65%+173,277Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,600 shares; 2024Q4: 251,642 shares; 2025Q1: 245,222 shares; 2025Q2: 194,160 shares 194,160$41.3M1.56%-51,062Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 225,210 shares; 2024Q4: 245,530 shares; 2025Q1: 129,924 shares; 2025Q2: 189,660 shares 189,660$41.3M1.56%+59,736Timeline
GEHCGE HEALTHCARE TECHNOLOGIES IQuarterly 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: not reported; 2025Q2: 532,280 shares 532,280$39.4M1.49%newTimeline
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 251,689 shares; 2024Q4: 397,679 shares; 2025Q1: 262,099 shares; 2025Q2: 353,561 shares 353,561$38M1.43%+91,462Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,182,791 shares; 2024Q4: 3,338,466 shares; 2025Q1: 5,067,394 shares; 2025Q2: 5,082,900 shares 5,082,900$35M1.32%+15,506Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,427 shares; 2024Q4: 13,600 shares; 2025Q1: 13,600 shares; 2025Q2: 174,700 shares 174,700$34.5M1.3%+161,100Timeline
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 663,603 shares; 2024Q4: 576,156 shares; 2025Q1: 2,560,904 shares; 2025Q2: 3,688,858 shares 3,688,858$30M1.13%+1,127,954Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,842 shares; 2024Q4: 163,630 shares; 2025Q1: 122,016 shares; 2025Q2: 92,357 shares 92,357$29.3M1.11%-29,659Timeline
AURAAURA 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: 2,731,886 shares; 2025Q2: 4,372,884 shares 4,372,884$27.4M1.03%+1,640,998Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,635,709 shares; 2024Q4: 1,611,561 shares; 2025Q1: 1,492,383 shares; 2025Q2: 238,783 shares 238,783$24M0.91%-1,253,600Timeline
DDOGDATADOG 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: 176,450 shares; 2025Q1: 183,231 shares; 2025Q2: 178,832 shares 178,832$24M0.91%-4,399Timeline
MLYSMINERALYS 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: 1,667,759 shares; 2025Q2: 1,744,492 shares 1,744,492$23.6M0.89%+76,733Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 146,845 shares; 2024Q4: 75,198 shares; 2025Q1: 29,900 shares; 2025Q2: 68,000 shares 68,000$21.2M0.8%+38,100Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 138,447 shares; 2024Q4: 139,986 shares; 2025Q1: 109,386 shares; 2025Q2: 132,786 shares 132,786$20.3M0.76%+23,400Timeline
BIIBBIOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,946 shares; 2024Q4: 115,436 shares; 2025Q1: 120,736 shares; 2025Q2: 151,890 shares 151,890$19.1M0.72%+31,154Timeline
CMPXCOMPASS 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: 7,149,493 shares 7,149,493$18.6M0.7%newTimeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,768,039 shares; 2024Q4: 12,315,004 shares; 2025Q1: 12,315,004 shares; 2025Q2: 14,502,004 shares 14,502,004$18.4M0.69%+2,187,000Timeline
MRKMERCK & CO 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: 53,000 shares; 2025Q1: 144,100 shares; 2025Q2: 219,178 shares 219,178$17.4M0.65%+75,078Timeline
GSGOLDMAN SACHS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,308 shares; 2024Q4: 74,198 shares; 2025Q1: 25,538 shares; 2025Q2: 24,108 shares 24,108$17.1M0.64%-1,430Timeline
PVLAPALVELLA THERAPEUTICS INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 714,463 shares; 2025Q1: 714,463 shares; 2025Q2: 714,463 shares 714,463$16.1M0.61%0Timeline
PINSPINTEREST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 615,911 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 430,025 shares 430,025$15.4M0.58%newTimeline
ABEOABEONA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,685,503 shares; 2024Q4: 3,685,503 shares; 2025Q1: 3,685,503 shares; 2025Q2: 2,676,000 shares 2,676,000$15.2M0.57%-1,009,503Timeline
GLUEMONTE ROSA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,659,000 shares; 2024Q4: 1,563,798 shares; 2025Q1: 1,563,798 shares; 2025Q2: 3,360,000 shares 3,360,000$15.2M0.57%+1,796,202Timeline
MRNAMODERNA 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: 517,163 shares; 2025Q2: 517,163 shares 517,163$14.3M0.54%0Timeline
KYMRKYMERA 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: 275,000 shares 275,000$12M0.45%newTimeline
RCKTROCKET 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: 2,566,951 shares; 2025Q1: 3,502,000 shares; 2025Q2: 4,143,333 shares 4,143,333$10.2M0.38%+641,333Timeline
MOLNMOLECULAR PARTNERS AGQuarterly 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: 2,221,494 shares; 2025Q1: 2,221,494 shares; 2025Q2: 2,221,494 shares 2,221,494$8.49M0.32%0Timeline
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: 3,217,449 shares 3,217,449$7.43M0.28%newTimeline
ProKidney CorpProKidney CorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,341,266 shares; 2024Q4: 12,341,266 shares; 2025Q1: 12,341,266 shares; 2025Q2: 12,341,266 shares 12,341,266$7.31M0.28%0
WHWKWHITEHAWK 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: 3,700,000 shares; 2025Q2: 3,700,000 shares 3,700,000$6.92M0.26%0Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,720,000 shares; 2024Q4: 1,720,000 shares; 2025Q1: 1,720,000 shares; 2025Q2: 1,720,000 shares 1,720,000$6.83M0.26%0Timeline
ABTABBOTT LABORATORIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,520 shares; 2024Q4: 33,520 shares; 2025Q1: 58,820 shares; 2025Q2: 40,520 shares 40,520$5.51M0.21%-18,300Timeline
IFRXINFLARX NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,733,910 shares; 2024Q4: 5,733,910 shares; 2025Q1: 6,483,910 shares; 2025Q2: 6,483,910 shares 6,483,910$5.12M0.19%0Timeline
ZURAZURA BIO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,860,939 shares; 2024Q4: 4,860,939 shares; 2025Q1: 4,860,939 shares; 2025Q2: 4,860,939 shares 4,860,939$5.1M0.19%0Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,100 shares; 2024Q4: 94,100 shares; 2025Q1: 94,100 shares; 2025Q2: 94,100 shares 94,100$5M0.19%0Timeline
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: 7,187,495 shares; 2024Q4: 7,462,495 shares; 2025Q1: 7,462,495 shares; 2025Q2: 6,488,324 shares 6,488,324$4.63M0.17%-974,171
REGNREGENERON PHARMACEUTICALSQuarterly 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: 8,630 shares 8,630$4.53M0.17%newTimeline
CORCENCORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,488 shares; 2024Q4: 12,488 shares; 2025Q1: 12,488 shares; 2025Q2: 12,488 shares 12,488$3.74M0.14%0Timeline
ELANELANCO ANIMAL HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 253,600 shares; 2024Q4: 253,600 shares; 2025Q1: 253,600 shares; 2025Q2: 253,600 shares 253,600$3.62M0.14%0Timeline
KZRKEZAR LIFE SCIENCES 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: 716,759 shares; 2025Q1: 716,759 shares; 2025Q2: 716,759 shares 716,759$3.28M0.12%0Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,260 shares; 2024Q4: 7,900 shares; 2025Q1: 7,900 shares; 2025Q2: 7,900 shares 7,900$3.2M0.12%0Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,200 shares; 2024Q4: 5,200 shares; 2025Q1: 5,200 shares; 2025Q2: 5,200 shares 5,200$2.83M0.11%0Timeline
DXCMDEXCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,680 shares; 2024Q4: 31,680 shares; 2025Q1: 31,680 shares; 2025Q2: 31,680 shares 31,680$2.77M0.1%0Timeline
SYKSTRYKER CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,360 shares; 2024Q4: 4,360 shares; 2025Q1: 5,860 shares; 2025Q2: 5,860 shares 5,860$2.32M0.09%0Timeline
MTDMETTLER TOLEDO INTERNATIONALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,964 shares; 2024Q4: 1,964 shares; 2025Q1: 1,964 shares; 2025Q2: 1,964 shares 1,964$2.31M0.09%0Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,460 shares; 2024Q4: 17,460 shares; 2025Q1: 25,060 shares; 2025Q2: 25,060 shares 25,060$2.18M0.08%0Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,100 shares; 2024Q4: 10,100 shares; 2025Q1: 10,100 shares; 2025Q2: 10,100 shares 10,100$1.71M0.06%0Timeline
MCKMCKESSON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,830 shares; 2024Q4: 1,830 shares; 2025Q1: 1,830 shares; 2025Q2: 1,830 shares 1,830$1.34M0.05%0Timeline
WINGWINGSTOP 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: 3,961 shares 3,961$1.33M0.05%newTimeline
HCAHCA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,190 shares; 2024Q4: 3,190 shares; 2025Q1: 3,190 shares; 2025Q2: 3,190 shares 3,190$1.22M0.05%0Timeline
IQVIQVIA HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,175 shares; 2024Q4: 7,175 shares; 2025Q1: 7,175 shares; 2025Q2: 7,175 shares 7,175$1.13M0.04%0Timeline
WATWATERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,150 shares; 2024Q4: 3,150 shares; 2025Q1: 3,150 shares; 2025Q2: 3,150 shares 3,150$1.1M0.04%0Timeline
LKFTLAKEFRONT BIOTHERAPEUTICS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,200 shares; 2024Q4: 37,111 shares; 2025Q1: 37,111 shares; 2025Q2: 37,111 shares 37,111$1.04M0.04%0Timeline
AVTRAVANTOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,850 shares; 2024Q4: 71,850 shares; 2025Q1: 71,850 shares; 2025Q2: 71,850 shares 71,850$967K0.04%0Timeline
OSONESTREAM 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: 33,080 shares 33,080$936K0.04%newTimeline
EWEDWARDS LIFESCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,100 shares; 2024Q4: 11,100 shares; 2025Q1: 11,100 shares; 2025Q2: 11,100 shares 11,100$868K0.03%0Timeline
UALUNITED AIRLS HLDGS 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: 200,650 shares; 2025Q1: 366,375 shares; 2025Q2: 10,401 shares 10,401$828K0.03%-355,974Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 538,894 shares; 2024Q4: 436,394 shares; 2025Q1: 14,050 shares; 2025Q2: 8,460 shares 8,460$777K0.03%-5,590Timeline
RMDRESMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,390 shares; 2024Q4: 2,390 shares; 2025Q1: 2,390 shares; 2025Q2: 2,390 shares 2,390$617K0.02%0Timeline
AAGILENT TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,990 shares; 2024Q4: 4,990 shares; 2025Q1: 4,990 shares; 2025Q2: 4,990 shares 4,990$589K0.02%0Timeline
VLTOVERALTO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,475 shares; 2024Q4: 5,475 shares; 2025Q1: 5,475 shares; 2025Q2: 5,475 shares 5,475$553K0.02%0Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 772,412 shares; 2025Q1: 652,493 shares; 2025Q2: 18,875 shares 18,875$536K0.02%-633,618Timeline
IONSIONIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,800 shares; 2024Q4: 10,800 shares; 2025Q1: 10,800 shares; 2025Q2: 10,800 shares 10,800$427K0.02%0Timeline
STESTERIS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,530 shares; 2024Q4: 1,530 shares; 2025Q1: 1,530 shares; 2025Q2: 1,530 shares 1,530$368K0.01%0Timeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,660,932 shares; 2024Q4: 1,174,321 shares; 2025Q1: 1,660,932 shares; 2025Q2: 300,000 shares 300,000$333K0.01%-1,360,932Timeline
SRPTSAREPTA 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: 17,888 shares; 2025Q1: 17,888 shares; 2025Q2: 17,888 shares 17,888$306K0.01%0Timeline
ZBHZIMMER BIOMET HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,260 shares; 2024Q4: 3,260 shares; 2025Q1: 3,260 shares; 2025Q2: 3,260 shares 3,260$297K0.01%0Timeline
PACSPACS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares 20,000$258K0.01%0Timeline
BAXBAXTER INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,970 shares; 2024Q4: 7,970 shares; 2025Q1: 7,970 shares; 2025Q2: 7,970 shares 7,970$241K0.01%0Timeline
ALGNALIGN TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,100 shares; 2024Q4: 1,100 shares; 2025Q1: not reported; 2025Q2: 1,100 shares 1,100$208K0.01%newTimeline

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
SPYSTATE STR SPDR S&P 500 ETF T SHSput700,000$432M+300,000
IWMISHARES TR SHSput702,500$152Mnew
NVDANVIDIA CORPORATION COMcall500,000$79Mnew

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INC700,904$92.5Mshares
CMGCHIPOTLE MEXICAN GRILL INC539,540$27.1Mshares
SNOWSNOWFLAKE INC137,886$20.2Mshares
TTWOTAKE-TWO INTERACTIVE SOFTWAR72,400$15Mshares
RBLXROBLOX CORP227,710$13.3Mshares
UUNITY SOFTWARE INC339,560$6.65Mshares
BIOABIOAGE LABS INC1,452,336$5.46Mshares
SNYSANOFI SA83,701$4.64Mshares
IRONDISC MEDICINE INC80,000$3.97Mshares
ALNYALNYLAM PHARMACEUTICALS INC9,370$2.53Mshares
AARDAARDVARK THERAPEUTICS INC312,500$2.35Mshares
TRVITREVI THERAPEUTICS INC340,164$2.14Mshares
ORICORIC PHARMACEUTICALS INC255,000$1.42Mshares
ELVELEVANCE HEALTH INC FORMERLY2,740$1.19Mshares

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 0001172661-25-003289 base2025-08-14acceptance time not in the bulk data set