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Nantahala Capital Management, LLC

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13F filer, CIK 1472322, NEW CANAAN, CT

Nantahala Capital Management, LLC reported $3,024,942,094 across 153 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 32.35% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-26-015271

Period
2025-12-31
Reported value
$3.02B
Holdings
153
Top 10 weight
32.35%
New
22
Sold out
22

Part of the filer group Nantahala Capital Management, LLC

  • Daniel Mack
  • Wilmot B. Harkey
How groups are built

Stakes and trades reported after 2025-12-31

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.

  • RACC RESEARCH ALLIANCE CORP III: 13G 1,100,000 shares, 14.1% of the class, 13G filed 2026-10-07, 0001104659-26-114377Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GOGOnew+6,792,649$31.7M
IWMnew+117,159$28.8M
FOXFadded+1,459,652$25M
SLNOadded+450,239$20.8M
TNGXadded+1,762,685$15.6M

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
ESTAreduced-985,803-$71.8M
ABVXreduced-404,329-$54.5M
COGTreduced-1,256,989-$44.6M
AMRXreduced-1,777,048-$22.4M
IMAXreduced-519,058-$19.2M

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.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001104659-26-015271, largest first. % of portfolio is the value over $1,677,581,666, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TBBKBANCORP INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 588,160 shares; 2024Q4: 974,455 shares; 2025Q1: 828,503 shares; 2025Q2: 968,503 shares; 2025Q3: 852,334 shares; 2025Q4: 1,071,685 shares 1,071,685$72.4M4.31%+219,351Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,359,141 shares; 2024Q4: 1,654,470 shares; 2025Q1: 1,774,044 shares; 2025Q2: 1,775,530 shares; 2025Q3: 1,973,492 shares; 2025Q4: 987,689 shares 987,689$72M4.29%-985,803Timeline
HGVHILTON GRAND VACATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 746,829 shares; 2024Q4: 1,730,995 shares; 2025Q1: 1,986,737 shares; 2025Q2: 1,988,858 shares; 2025Q3: 1,667,753 shares; 2025Q4: 1,561,622 shares 1,561,622$69.9M4.17%-106,131Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,270,448 shares; 2024Q4: 3,928,966 shares; 2025Q1: 1,757,023 shares; 2025Q2: 1,001,350 shares; 2025Q3: 863,763 shares; 2025Q4: 1,314,002 shares 1,314,002$60.8M3.63%+450,239Timeline
XTNTXTANT MED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,394,000 shares; 2024Q4: 11,394,000 shares; 2025Q1: 11,394,000 shares; 2025Q2: 68,394,000 shares; 2025Q3: 68,394,000 shares; 2025Q4: 68,394,000 shares 68,394,000$53.6M3.2%0Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,777,912 shares; 2024Q4: 4,779,708 shares; 2025Q1: 4,822,693 shares; 2025Q2: 4,288,299 shares; 2025Q3: 4,670,784 shares; 2025Q4: 4,293,346 shares 4,293,346$48.6M2.89%-377,438Timeline
BVSBIOVENTUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,350,870 shares; 2024Q4: 4,026,809 shares; 2025Q1: 4,125,650 shares; 2025Q2: 5,280,842 shares; 2025Q3: 5,810,662 shares; 2025Q4: 6,047,403 shares 6,047,403$45M2.68%+236,741Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,180,951 shares; 2024Q4: 7,525,259 shares; 2025Q1: 8,075,375 shares; 2025Q2: 8,325,375 shares; 2025Q3: 8,775,375 shares; 2025Q4: 7,344,783 shares 7,344,783$44.3M2.64%-1,430,592Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,824,849 shares; 2024Q4: 3,130,149 shares; 2025Q1: 3,651,343 shares; 2025Q2: 4,197,926 shares; 2025Q3: 5,726,857 shares; 2025Q4: 5,820,649 shares 5,820,649$38.7M2.31%+93,792Timeline
FOXFFOX FACTORY HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 635,994 shares; 2025Q1: 628,648 shares; 2025Q2: 728,648 shares; 2025Q3: 728,648 shares; 2025Q4: 2,188,300 shares 2,188,300$37.4M2.23%+1,459,652Timeline
PTONPELOTON INTERACTIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,353,631 shares; 2024Q4: 7,224,903 shares; 2025Q1: 4,361,792 shares; 2025Q2: 3,267,737 shares; 2025Q3: 3,697,700 shares; 2025Q4: 5,932,676 shares 5,932,676$36.5M2.18%+2,234,976Timeline
GOGOGOGO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 475,497 shares; 2024Q4: 2,574,642 shares; 2025Q1: 3,564,797 shares; 2025Q2: 1,044,415 shares; 2025Q3: not reported; 2025Q4: 6,792,649 shares 6,792,649$31.7M1.89%newTimeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,804,410 shares; 2025Q1: 2,987,983 shares; 2025Q2: 3,439,594 shares; 2025Q3: 1,809,948 shares; 2025Q4: 3,572,633 shares 3,572,633$31.7M1.89%+1,762,685Timeline
AMRXAMNEAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,669,943 shares; 2024Q4: 3,665,529 shares; 2025Q1: 3,808,561 shares; 2025Q2: 4,367,438 shares; 2025Q3: 4,224,564 shares; 2025Q4: 2,447,516 shares 2,447,516$30.8M1.84%-1,777,048Timeline
EBEVENTBRITE INC-CLASS AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,361,200 shares; 2024Q4: 5,930,947 shares; 2025Q1: 6,381,395 shares; 2025Q2: 6,381,395 shares; 2025Q3: 6,831,395 shares; 2025Q4: 6,854,718 shares 6,854,718$30.5M1.82%+23,323Timeline
IWMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,331 shares; 2024Q4: 97,637 shares; 2025Q1: 29,151 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 117,159 shares 117,159$28.8M1.72%newTimeline
ABEOABEONA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,432,637 shares; 2024Q4: 3,529,214 shares; 2025Q1: 3,509,850 shares; 2025Q2: 4,369,665 shares; 2025Q3: 4,564,665 shares; 2025Q4: 4,963,052 shares 4,963,052$26.2M1.56%+398,387Timeline
RAPTRAPT 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: 951,613 shares; 2025Q3: 623,282 shares; 2025Q4: 754,153 shares 754,153$25.5M1.52%+130,871Timeline
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: 12,136,917 shares; 2025Q4: 10,846,440 shares 10,846,440$23.9M1.42%-1,290,477Timeline
AVTXAVALO 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: 900,000 shares; 2025Q2: 995,000 shares; 2025Q3: 1,235,000 shares; 2025Q4: 1,235,000 shares 1,235,000$22.4M1.34%0Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 985,634 shares; 2024Q4: 1,436,047 shares; 2025Q1: 1,482,994 shares; 2025Q2: 1,482,994 shares; 2025Q3: 557,564 shares; 2025Q4: 153,235 shares 153,235$20.7M1.23%-404,329Timeline
ETONETON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 998,733 shares; 2024Q4: 1,118,483 shares; 2025Q1: 1,175,951 shares; 2025Q2: 1,175,951 shares; 2025Q3: 1,175,951 shares; 2025Q4: 1,175,951 shares 1,175,951$19.9M1.19%0Timeline
GMEDGLOBUS 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: 300,000 shares; 2025Q4: 224,962 shares 224,962$19.6M1.17%-75,038Timeline
ADCTADC THERAPEUTICS 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: 2,266,289 shares; 2025Q3: 2,266,289 shares; 2025Q4: 5,475,433 shares 5,475,433$19.3M1.15%+3,209,144Timeline
FOSLFOSSIL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,905,278 shares; 2024Q4: 3,326,677 shares; 2025Q1: 4,189,177 shares; 2025Q2: 5,087,803 shares; 2025Q3: 3,741,157 shares; 2025Q4: 5,064,359 shares 5,064,359$19M1.14%+1,323,202Timeline
TITNTITAN MACHY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,625,276 shares; 2024Q4: 1,625,276 shares; 2025Q1: 1,621,738 shares; 2025Q2: 1,135,552 shares; 2025Q3: 1,096,232 shares; 2025Q4: 1,220,520 shares 1,220,520$18.4M1.09%+124,288Timeline
RDNWRIDENOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,066,537 shares; 2024Q4: 3,274,138 shares; 2025Q1: 3,272,845 shares; 2025Q2: 3,272,845 shares; 2025Q3: 3,272,845 shares; 2025Q4: 3,272,845 shares 3,272,845$18.1M1.08%0Timeline
IMAXIMAX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,278,774 shares; 2024Q4: 1,150,351 shares; 2025Q1: 908,251 shares; 2025Q2: 1,133,993 shares; 2025Q3: 996,150 shares; 2025Q4: 477,092 shares 477,092$17.6M1.05%-519,058Timeline
RMRRMR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 339,486 shares; 2024Q4: 450,792 shares; 2025Q1: 736,202 shares; 2025Q2: 1,147,902 shares; 2025Q3: 1,147,902 shares; 2025Q4: 1,147,902 shares 1,147,902$17.1M1.02%0Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,781,013 shares; 2024Q4: 2,453,364 shares; 2025Q1: 2,755,962 shares; 2025Q2: 2,051,852 shares; 2025Q3: 1,007,492 shares; 2025Q4: 699,298 shares 699,298$16.7M1%-308,194Timeline
JACKJACK IN THE BOX 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: 600,000 shares; 2025Q3: 600,000 shares; 2025Q4: 865,990 shares 865,990$16.4M0.98%+265,990Timeline
MDXGMIMEDX GROUP 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: 1,466,566 shares; 2025Q4: 2,416,389 shares 2,416,389$16.4M0.98%+949,823Timeline
CRMTAMERICAS CAR-MART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 544,686 shares; 2024Q4: 544,686 shares; 2025Q1: 644,686 shares; 2025Q2: 644,686 shares; 2025Q3: 644,686 shares; 2025Q4: 644,686 shares 644,686$16.3M0.97%0Timeline
ZVRAZEVRA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,924,021 shares; 2024Q4: 2,340,333 shares; 2025Q1: 1,471,936 shares; 2025Q2: 1,471,936 shares; 2025Q3: 1,971,936 shares; 2025Q4: 1,771,936 shares 1,771,936$15.9M0.95%-200,000Timeline
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: 375,000 shares; 2025Q4: 375,000 shares 375,000$15.5M0.92%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: 675,000 shares; 2025Q4: 675,000 shares 675,000$15M0.9%0Timeline
TLSITRISALUS LIFE SCIENCES 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: 2,000,000 shares; 2025Q3: 2,040,245 shares; 2025Q4: 2,070,827 shares 2,070,827$14.5M0.86%+30,582Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 675,000 shares; 2024Q4: 675,000 shares; 2025Q1: 669,530 shares; 2025Q2: 1,069,530 shares; 2025Q3: 1,069,530 shares; 2025Q4: 1,069,530 shares 1,069,530$14M0.83%0
BNTCBENITEC BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 838,095 shares; 2024Q4: 838,095 shares; 2025Q1: 838,095 shares; 2025Q2: 838,095 shares; 2025Q3: 838,095 shares; 2025Q4: 1,038,371 shares 1,038,371$14M0.83%+200,276Timeline
APYXAPYX MEDICAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,169,800 shares; 2025Q1: 3,258,048 shares; 2025Q2: 3,338,048 shares; 2025Q3: 3,338,048 shares; 2025Q4: 3,974,091 shares 3,974,091$13.9M0.83%+636,043Timeline
UPBUPSTREAM BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 600,000 shares; 2025Q1: 594,971 shares; 2025Q2: 594,971 shares; 2025Q3: 594,971 shares; 2025Q4: 494,971 shares 494,971$13.4M0.8%-100,000Timeline
JCAPJEFFERSON CAPITAL 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: 600,000 shares; 2025Q3: 600,000 shares; 2025Q4: 600,000 shares 600,000$13.4M0.8%0Timeline
FLWS1 800 FLOWERS COM 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: 2,000,000 shares; 2025Q3: 3,368,065 shares; 2025Q4: 3,375,065 shares 3,375,065$13.3M0.79%+7,000Timeline
SVCSERVICE PPTYS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,091,900 shares; 2025Q1: 8,057,887 shares; 2025Q2: 8,057,887 shares; 2025Q3: 7,057,887 shares; 2025Q4: 7,057,887 shares 7,057,887$13M0.77%0Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,666,666 shares; 2025Q1: 1,663,666 shares; 2025Q2: 1,693,666 shares; 2025Q3: 1,918,666 shares; 2025Q4: 2,530,910 shares 2,530,910$12.6M0.75%+612,244Timeline
GERNGERON 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: 9,025,000 shares; 2025Q4: 9,025,000 shares 9,025,000$11.9M0.71%0Timeline
AURAAURA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,270,035 shares; 2024Q4: 1,270,035 shares; 2025Q1: 1,267,697 shares; 2025Q2: 2,117,697 shares; 2025Q3: 2,117,697 shares; 2025Q4: 2,117,697 shares 2,117,697$11.5M0.69%0Timeline
USNAUSANA HEALTH SCIENCES 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: 585,074 shares 585,074$11.5M0.68%newTimeline
HLFHERBALIFE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 822,298 shares; 2025Q3: 942,431 shares; 2025Q4: 881,857 shares 881,857$11.4M0.68%-60,574Timeline
RYAMRAYONIER ADVANCED MATLS 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: 510,510 shares; 2025Q4: 1,800,000 shares 1,800,000$10.6M0.63%+1,289,490Timeline
BCRXBIOCRYST 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: 1,356,377 shares 1,356,377$10.6M0.63%newTimeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,000 shares; 2024Q4: 150,000 shares; 2025Q1: 148,391 shares; 2025Q2: 287,800 shares; 2025Q3: 287,800 shares; 2025Q4: 132,800 shares 132,800$10.5M0.63%-155,000Timeline
CWHCAMPING WORLD HLDGS 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: 1,058,542 shares 1,058,542$10.3M0.61%newTimeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,404,564 shares; 2024Q4: 1,452,153 shares; 2025Q1: 2,934,405 shares; 2025Q2: 2,934,405 shares; 2025Q3: 935,684 shares; 2025Q4: 835,684 shares 835,684$10.1M0.6%-100,000Timeline
PEPGPEPGEN 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: 1,547,229 shares 1,547,229$10.1M0.6%newTimeline
GDENGOLDEN ENTMT 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: 368,245 shares 368,245$10M0.6%newTimeline
LXEOLEXEO 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: 1,000,000 shares 1,000,000$9.93M0.59%newTimeline
XFORX4 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: 2,228,350 shares; 2025Q4: 2,449,468 shares 2,449,468$9.8M0.58%+221,118Timeline
IRDOPUS GENETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,157,895 shares; 2025Q2: 3,345,923 shares; 2025Q3: 3,345,923 shares; 2025Q4: 4,781,330 shares 4,781,330$9.61M0.57%+1,435,407Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 1,049,676 shares; 2025Q1: 1,042,427 shares; 2025Q2: 1,042,427 shares; 2025Q3: 1,042,427 shares; 2025Q4: 1,542,427 shares 1,542,427$9.38M0.56%+500,000Timeline
CASHPATHWARD FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 264,203 shares; 2024Q4: 191,343 shares; 2025Q1: not reported; 2025Q2: 8,341 shares; 2025Q3: 8,341 shares; 2025Q4: 131,608 shares 131,608$9.34M0.56%+123,267Timeline
ILPTINDUSTRIAL LOGISTICS PPTYS TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,131,132 shares; 2024Q4: 2,107,893 shares; 2025Q1: 2,506,244 shares; 2025Q2: 3,206,219 shares; 2025Q3: 1,675,273 shares; 2025Q4: 1,678,973 shares 1,678,973$9.3M0.55%+3,700Timeline
SLDBSOLID 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: 281,368 shares; 2025Q2: 1,703,336 shares; 2025Q3: 1,699,258 shares; 2025Q4: 1,603,336 shares 1,603,336$9.04M0.54%-95,922Timeline
DSGRDISTRIBUTION SOLUTIONS GRP 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: 210,800 shares; 2025Q3: 230,339 shares; 2025Q4: 330,000 shares 330,000$9.04M0.54%+99,661Timeline
QNCXQUINCE 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: 2,528,302 shares; 2025Q3: 3,073,729 shares; 2025Q4: 2,672,429 shares 2,672,429$8.95M0.53%-401,300Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 790,936 shares; 2024Q4: 852,855 shares; 2025Q1: 843,489 shares; 2025Q2: 1,655,689 shares; 2025Q3: 1,506,989 shares; 2025Q4: 250,000 shares 250,000$8.88M0.53%-1,256,989Timeline
EHTHEHEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,911,821 shares; 2024Q4: 2,009,500 shares; 2025Q1: 1,311,441 shares; 2025Q2: 1,311,441 shares; 2025Q3: 1,761,441 shares; 2025Q4: 1,761,441 shares 1,761,441$8.1M0.48%0Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,190,000 shares; 2025Q1: 2,190,000 shares; 2025Q2: 2,190,000 shares; 2025Q3: 2,190,000 shares; 2025Q4: 3,929,292 shares 3,929,292$8.06M0.48%+1,739,292Timeline
ITGRINTEGER HLDGS 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: not reported; 2025Q4: 102,000 shares 102,000$8M0.48%newTimeline
CMCOCOLUMBUS MCKINNON CORP N YQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 203,628 shares; 2025Q3: 450,000 shares; 2025Q4: 450,000 shares 450,000$7.76M0.46%0Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 381,659 shares; 2024Q4: 915,048 shares; 2025Q1: 1,506,790 shares; 2025Q2: 1,620,692 shares; 2025Q3: 1,233,189 shares; 2025Q4: 360,419 shares 360,419$7.34M0.44%-872,770Timeline
RSVRRESERVOIR MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,560,797 shares; 2024Q4: 1,560,797 shares; 2025Q1: 1,442,136 shares; 2025Q2: 1,442,136 shares; 2025Q3: 950,960 shares; 2025Q4: 940,960 shares 940,960$7.12M0.42%-10,000Timeline
HAINHAIN CELESTIAL GROUP 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: 3,000,000 shares; 2025Q3: 3,000,000 shares; 2025Q4: 6,528,789 shares 6,528,789$6.99M0.42%+3,528,789Timeline
VMDVIEMED HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,135,122 shares; 2024Q4: 935,122 shares; 2025Q1: 932,445 shares; 2025Q2: 932,445 shares; 2025Q3: 932,445 shares; 2025Q4: 932,445 shares 932,445$6.93M0.41%0Timeline
RHRHQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,158 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 37,791 shares 37,791$6.77M0.4%newTimeline
CDXSCODEXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,967,808 shares; 2024Q4: 2,841,660 shares; 2025Q1: 2,830,619 shares; 2025Q2: 4,030,619 shares; 2025Q3: 4,030,619 shares; 2025Q4: 3,990,169 shares 3,990,169$6.5M0.39%-40,450Timeline
DRIODARIOHEALTH 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: 563,233 shares; 2025Q4: 563,232 shares 563,232$6.41M0.38%-1Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 512,647 shares; 2024Q4: 512,647 shares; 2025Q1: 554,803 shares; 2025Q2: 554,803 shares; 2025Q3: 404,803 shares; 2025Q4: 254,803 shares 254,803$6.37M0.38%-150,000Timeline
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,915,126 shares; 2024Q4: 3,679,726 shares; 2025Q1: 3,877,965 shares; 2025Q2: 5,111,588 shares; 2025Q3: 5,111,588 shares; 2025Q4: 5,111,588 shares 5,111,588$6.03M0.36%0Timeline
NSPRINSPIREMD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,209,593 shares; 2024Q4: 1,674,565 shares; 2025Q1: 2,318,017 shares; 2025Q2: 2,318,017 shares; 2025Q3: 3,376,484 shares; 2025Q4: 3,376,484 shares 3,376,484$6.01M0.36%0Timeline
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: 939,202 shares; 2025Q3: 939,202 shares; 2025Q4: 939,202 shares 939,202$5.42M0.32%0Timeline
ASRTASSERTIO HOLDINGS 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: 587,335 shares 587,335$5.33M0.32%newTimeline
SRZNSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,206 shares; 2024Q4: 196,023 shares; 2025Q1: 229,527 shares; 2025Q2: 229,527 shares; 2025Q3: 229,527 shares; 2025Q4: 229,527 shares 229,527$5.19M0.31%0Timeline
KRROKORRO BIO 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: 600,000 shares 600,000$4.81M0.29%newTimeline
NKTRNEKTAR THERAPEUTICSQuarterly 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: 709,761 shares; 2025Q3: 418,522 shares; 2025Q4: 112,946 shares 112,946$4.78M0.28%-305,576Timeline
NPCENEUROPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 607,890 shares; 2024Q4: 562,073 shares; 2025Q1: 312,094 shares; 2025Q2: 295,089 shares; 2025Q3: 295,089 shares; 2025Q4: 295,089 shares 295,089$4.56M0.27%0Timeline
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: 109,449 shares; 2025Q4: 109,449 shares 109,449$4.54M0.27%0Timeline
ALTGALTA EQUIPMENT GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 845,115 shares; 2024Q4: 845,115 shares; 2025Q1: 1,042,769 shares; 2025Q2: 1,042,769 shares; 2025Q3: 934,774 shares; 2025Q4: 934,774 shares 934,774$4.3M0.26%0Timeline
DXLGDESTINATION XL GROUP 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: 2,576,774 shares; 2025Q3: 4,505,000 shares; 2025Q4: 4,505,000 shares 4,505,000$4.14M0.25%0Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 632,506 shares; 2024Q4: 632,506 shares; 2025Q1: 787,740 shares; 2025Q2: 353,982 shares; 2025Q3: 158,713 shares; 2025Q4: 113,285 shares 113,285$4.11M0.25%-45,428Timeline
GRCEGRACE 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: 1,178,203 shares; 2025Q2: 1,178,203 shares; 2025Q3: 1,178,203 shares; 2025Q4: 1,178,203 shares 1,178,203$4.08M0.24%0Timeline
TLPHTALPHERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,992,519 shares; 2024Q4: 1,992,519 shares; 2025Q1: 1,992,519 shares; 2025Q2: 1,992,519 shares; 2025Q3: 3,492,519 shares; 2025Q4: 3,492,519 shares 3,492,519$3.98M0.24%0Timeline
STKSTHE ONE GROUP HOSPITALITY INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,684,073 shares; 2024Q4: 2,087,394 shares; 2025Q1: 2,121,084 shares; 2025Q2: 2,121,084 shares; 2025Q3: 2,121,084 shares; 2025Q4: 2,121,084 shares 2,121,084$3.71M0.22%0Timeline
DHXDHI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,376,606 shares; 2024Q4: 2,376,606 shares; 2025Q1: 2,374,027 shares; 2025Q2: 2,374,027 shares; 2025Q3: 2,374,027 shares; 2025Q4: 2,374,027 shares 2,374,027$3.68M0.22%0Timeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,733,333 shares; 2024Q4: 3,752,583 shares; 2025Q1: 2,298,541 shares; 2025Q2: 2,954,735 shares; 2025Q3: 1,292,903 shares; 2025Q4: 462,140 shares 462,140$3.57M0.21%-830,763Timeline
ARVNARVINAS 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: 300,000 shares 300,000$3.56M0.21%newTimeline
KIDSORTHOPEDIATRICS 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: 49,449 shares; 2025Q4: 199,449 shares 199,449$3.54M0.21%+150,000Timeline
GAIAGAIA INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 915,029 shares; 2024Q4: 915,029 shares; 2025Q1: 914,618 shares; 2025Q2: 914,618 shares; 2025Q3: 914,618 shares; 2025Q4: 914,618 shares 914,618$3.32M0.2%0Timeline
ACHVACHIEVE LIFE SCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 654,000 shares; 2024Q4: 654,000 shares; 2025Q1: 898,885 shares; 2025Q2: 898,885 shares; 2025Q3: 648,885 shares; 2025Q4: 648,885 shares 648,885$3.22M0.19%0Timeline
AKBAAKEBIA THREAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,000,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 2,000,000 shares; 2025Q4: 2,000,000 shares 2,000,000$3.22M0.19%0Timeline
SRLSCULLY ROYALTY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 239,197 shares; 2024Q4: 368,596 shares; 2025Q1: 368,182 shares; 2025Q2: 368,182 shares; 2025Q3: 368,182 shares; 2025Q4: 368,182 shares 368,182$3.15M0.19%0Timeline
NNBRNN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,458,416 shares; 2024Q4: 1,458,416 shares; 2025Q1: 1,441,416 shares; 2025Q2: 2,441,416 shares; 2025Q3: 2,441,416 shares; 2025Q4: 2,441,416 shares 2,441,416$3.13M0.19%0Timeline
ANEBANEBULO PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 511,073 shares; 2024Q4: 3,036,325 shares; 2025Q1: 3,036,325 shares; 2025Q2: 3,036,325 shares; 2025Q3: 3,036,325 shares; 2025Q4: 3,036,325 shares 3,036,325$3.07M0.18%0Timeline
CMPSCOMPASS PATHWAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 200,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 2,829,232 shares; 2025Q2: 4,179,930 shares; 2025Q3: 1,729,930 shares; 2025Q4: 443,293 shares 443,293$3.06M0.18%-1,286,637Timeline
BRCCBRC 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: 2,630,517 shares; 2025Q4: 2,630,517 shares 2,630,517$2.92M0.17%0Timeline
NOODLES & CONOODLES & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,508,329 shares; 2024Q4: 4,508,329 shares; 2025Q1: 4,505,489 shares; 2025Q2: 4,505,489 shares; 2025Q3: 4,505,489 shares; 2025Q4: 4,124,708 shares 4,124,708$2.91M0.17%-380,781
AYTUAYTU BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,812 shares; 2024Q4: 1,086,812 shares; 2025Q1: 1,086,812 shares; 2025Q2: 1,086,812 shares; 2025Q3: 1,086,812 shares; 2025Q4: 1,086,812 shares 1,086,812$2.83M0.17%0Timeline
PAYOPAYONEER GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,115,653 shares; 2024Q4: 1,538,600 shares; 2025Q1: 148,052 shares; 2025Q2: 483,836 shares; 2025Q3: 483,836 shares; 2025Q4: 483,836 shares 483,836$2.72M0.16%0Timeline
XNCRXENCOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 456,741 shares; 2025Q2: 820,103 shares; 2025Q3: 1,100,000 shares; 2025Q4: 164,639 shares 164,639$2.52M0.15%-935,361Timeline
IMUXIMMUNIC 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: 4,378,406 shares 4,378,406$2.34M0.14%newTimeline
ELUTELUTIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,864,947 shares; 2024Q4: 2,864,947 shares; 2025Q1: 3,184,947 shares; 2025Q2: 3,184,947 shares; 2025Q3: 3,184,947 shares; 2025Q4: 3,184,947 shares 3,184,947$2.21M0.13%0Timeline
KOSKOSMOS ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,716,593 shares; 2025Q2: 1,716,593 shares; 2025Q3: 1,716,593 shares; 2025Q4: 2,344,194 shares 2,344,194$2.13M0.13%+627,601Timeline
RDIREADING INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,236,497 shares; 2024Q4: 2,864,046 shares; 2025Q1: 1,921,088 shares; 2025Q2: 1,921,088 shares; 2025Q3: 1,921,088 shares; 2025Q4: 1,921,088 shares 1,921,088$2.02M0.12%0Timeline
KZRKEZAR LIFE SCIENCES 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: 276,754 shares 276,754$1.74M0.1%newTimeline
PERFPERFECT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 419,133 shares; 2024Q4: 500,000 shares; 2025Q1: 495,041 shares; 2025Q2: 583,925 shares; 2025Q3: 583,925 shares; 2025Q4: 583,925 shares 583,925$1.06M0.06%0Timeline
ASPSWALTISOURCE PORTFOLIO SOLUTIOQuarterly 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: 2,477,312 shares; 2025Q3: 2,477,312 shares; 2025Q4: 2,477,312 shares 2,477,312$1.02M0.06%0Timeline
SNTISENTI 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: 888,000 shares; 2025Q2: 888,000 shares; 2025Q3: 888,000 shares; 2025Q4: 888,000 shares 888,000$924K0.06%0Timeline
GLUEMONTE ROSA 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: 57,991 shares 57,991$909K0.05%newTimeline
EDSAEDESA BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 625,000 shares; 2025Q2: 625,000 shares; 2025Q3: 625,000 shares; 2025Q4: 625,000 shares 625,000$888K0.05%0Timeline
ACUACME UTD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 20,427 shares; 2025Q2: 20,427 shares; 2025Q3: 20,427 shares; 2025Q4: 20,427 shares 20,427$823K0.05%0Timeline
ASPSZALTISOURCE PORTFOLIO SOLUTIOQuarterly 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: 2,477,312 shares; 2025Q3: 2,477,312 shares; 2025Q4: 2,477,312 shares 2,477,312$818K0.05%0Timeline
VYNEVYNE 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: 1,000,000 shares 1,000,000$580K0.03%newTimeline
SGRPSPAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 662,028 shares; 2024Q4: 662,028 shares; 2025Q1: 660,688 shares; 2025Q2: 660,688 shares; 2025Q3: 660,688 shares; 2025Q4: 660,688 shares 660,688$532K0.03%0Timeline
SSKNSTRATA SKIN SCIENCES INC COM SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 403,917 shares; 2024Q4: 403,917 shares; 2025Q1: 403,917 shares; 2025Q2: 403,917 shares; 2025Q3: 403,917 shares; 2025Q4: 403,917 shares 403,917$509K0.03%0Timeline
PHGEBIOMX 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: 114,795 shares 114,795$215K0.01%newTimeline
KPRXKIORA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 211,110 shares; 2024Q4: 211,110 shares; 2025Q1: 211,110 shares; 2025Q2: 211,110 shares; 2025Q3: 156,427 shares; 2025Q4: 106,156 shares 106,156$209K0.01%-50,271Timeline
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: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 626,191 shares 626,191$207K0.01%new
APREAPREA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,760 shares; 2024Q4: 205,760 shares; 2025Q1: 205,760 shares; 2025Q2: 205,760 shares; 2025Q3: 205,760 shares; 2025Q4: 205,760 shares 205,760$176K0.01%0Timeline
LUCDLUCID DIAGNOSTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 126,362 shares; 2024Q4: 94,541 shares; 2025Q1: 94,541 shares; 2025Q2: 94,541 shares; 2025Q3: 94,541 shares; 2025Q4: 94,541 shares 94,541$103K0.01%0Timeline
CNTXCONTEXT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,935,484 shares; 2024Q4: 1,935,484 shares; 2025Q1: 1,935,484 shares; 2025Q2: 1,935,484 shares; 2025Q3: 1,661,950 shares; 2025Q4: 37,837 shares 37,837$55.6K<0.01%-1,624,113Timeline
GFAIWGUARDFORCE AI CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 154,205 shares; 2024Q4: 154,205 shares; 2025Q1: 154,205 shares; 2025Q2: 154,205 shares; 2025Q3: 154,205 shares; 2025Q4: 154,205 shares 154,205$23.1K<0.01%0Timeline
PERFECT CORPPERFECT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,075 shares; 2024Q4: 16,075 shares; 2025Q1: 16,075 shares; 2025Q2: 16,075 shares; 2025Q3: 16,075 shares; 2025Q4: 16,075 shares 16,075$323<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
IWMISHARES TR SHSput2,700,000$665M+50,000
EWEDWARDS LIFESCIENCES CORP Stockput1,800,000$153M0
HLFHERBALIFE LTD COM SHScall7,800,000$101M+1,000,000
TEVATEVA PHARMACEUTICAL INDS LTD ADRcall2,500,000$78M0
VTRSVIATRIS INC Stockcall5,000,000$62.2M0
XBISPDR SERIES TRUST S&P BIOTECHput400,000$48.8M-300,000
HGVHILTON GRAND VACATIONS INC Stockcall1,075,000$48.1M+500,000
PTONPELOTON INTERACTIVE INC CL A COMcall6,500,000$40M+2,000,000
REGNREGENERON PHARMACEUTICALS Stockcall40,000$30.9M0
SLNOSOLENO THERAPEUTICS INC COMcall502,000$23.2M+402,000
CWHCAMPING WORLD HLDGS INC Stockcall2,000,000$19.5M0
LYVLIVE NATION ENTERTAINMENT IN Stockput130,300$18.6M0
ALGNALIGN TECHNOLOGY INC Stockcall100,000$15.6M0
CHYMCHIME FINL INC Stockcall600,000$15.1Mnew
RDNWRIDENOW GROUP INC COM CL Bcall1,700,000$9.38M0
RHRH COMcall50,000$8.96M0
KROSKEROS THERAPEUTICS INC Stockcall250,000$5.09M0
ABEOABEONA THERAPEUTICS INC COM NEWcall520,000$2.74M0
PCVXVAXCYTE INC Stockcall35,200$1.62Mnew
TELATELA BIO INC COMcall750,000$885K0

Principal amounts

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

SecurityTypeAmountValueChange
MARA HOLDINGS INCMARA HOLDINGS INC NOTE3/0principal5,000,000$3.94Mnew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
KRYSKRYSTAL BIOTECH INC200,000$35.3Mput
PVLAPALVELLA THERAPEUTICS INC NE250,062$15.7Mshares
HOODROBINHOOD MKTS INC100,000$14.3Mput
CZRCAESARS ENTERTAINMENT INC NE500,000$13.5Mcall
GPCRSTRUCTURE THERAPEUTICS INC368,553$10.3Mshares
DYNDYNE THERAPEUTICS INC702,884$8.89Mshares
RDVTRED VIOLET INC164,339$8.59Mshares
CYTKCYTOKINETICS INC150,000$8.24Mshares
ASSERTIO HOLDINGS INCASSERTIO HOLDINGS INC8,810,073$7.76Mshares
DCTHDELCATH SYS INC666,435$7.16Mshares
VTGNVISTAGEN THERAPEUTICS INC1,978,492$7.02Mshares
SCPHARMACEUTICALS INCSCPHARMACEUTICALS INC861,277$4.88Mshares
KODKODIAK SCIENCES INC290,884$4.76Mshares
GPCRSTRUCTURE THERAPEUTICS INC150,000$4.2Mcall
AGIOAGIOS PHARMACEUTICALS INC100,000$4.01Mshares
AQSTAQUESTIVE THERAPEUTICS INC600,000$3.35Mshares
ELDNELEDON PHARMACEUTICALS INC1,141,237$2.96Mshares
CZRCAESARS ENTERTAINMENT INC NE98,879$2.67Mshares
MAZEMAZE THERAPEUTICS INC93,351$2.42Mshares
BIOMX INCBIOMX INC2,493,309$1.31Mshares
EVOKE PHARMA INCEVOKE PHARMA INC148,153$736Kshares
ANIKANIKA THERAPEUTICS INC20,961$197Kshares

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 0001104659-26-015271 base2026-02-13acceptance time not in the bulk data set