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Octagon Capital Advisors LP

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13F filer, CIK 1839435, NEW YORK, NY

Octagon Capital Advisors LP reported $659,757,896 across 27 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 73.41% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001839435-25-000010

Period
2025-09-30
Reported value
$660M
Holdings
27
Top 10 weight
73.41%
New
5
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BBOTnew+1,043,110$12.1M
CDTXnew+100,000$9.58M
KYMRadded+94,000$5.32M
ABVXadded+58,000$4.92M
PEPGnew+700,000$3.23M

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
VERONA PHARMA PLCexited-337,000-$31.9M
SPRYexited-1,350,000-$23.6M
ATYRexited-3,820,000-$19.4M
NUVBreduced-5,058,000-$18.7M
Tourmaline Bio Incexited-905,000-$14.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001839435-25-000010, largest first. % of portfolio is the value over $640,605,896, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,230,000 shares; 2025Q2: 1,267,000 shares; 2025Q3: 1,325,000 shares 1,325,000$112M17.56%+58,000Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,746,667 shares; 2024Q4: 2,110,167 shares; 2025Q1: 2,341,667 shares; 2025Q2: 2,341,667 shares; 2025Q3: 2,416,667 shares 2,416,667$95.1M14.84%+75,000Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,187,883 shares; 2024Q4: 18,350,000 shares; 2025Q1: 18,350,000 shares; 2025Q2: 18,350,000 shares; 2025Q3: 17,050,000 shares 17,050,000$44.8M7%-1,300,000Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,305,000 shares; 2024Q4: 2,763,000 shares; 2025Q1: 2,763,000 shares; 2025Q2: 2,763,000 shares; 2025Q3: 2,874,111 shares 2,874,111$41.3M6.44%+111,111Timeline
AVBPARRIVENT BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,976,387 shares; 2024Q4: 2,059,387 shares; 2025Q1: 2,059,387 shares; 2025Q2: 1,946,054 shares; 2025Q3: 1,971,054 shares 1,971,054$36.4M5.68%+25,000Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,425,000 shares; 2024Q4: 2,425,000 shares; 2025Q1: 2,425,000 shares; 2025Q2: 2,425,000 shares; 2025Q3: 2,624,000 shares 2,624,000$30.7M4.79%+199,000Timeline
TSHATAYSHA GENE THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,572,222 shares; 2024Q4: 10,450,000 shares; 2025Q1: 10,700,000 shares; 2025Q2: 12,592,500 shares; 2025Q3: 9,067,500 shares 9,067,500$29.7M4.63%-3,525,000Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 308,000 shares; 2025Q1: 308,000 shares; 2025Q2: 389,000 shares; 2025Q3: 308,000 shares 308,000$29M4.53%-81,000
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,322,000 shares; 2025Q2: 3,672,000 shares; 2025Q3: 2,815,000 shares 2,815,000$25.8M4.02%-857,000Timeline
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,018,000 shares; 2024Q4: 3,018,000 shares; 2025Q1: 3,018,000 shares; 2025Q2: 2,130,000 shares; 2025Q3: 2,130,000 shares 2,130,000$25.1M3.92%0
APLSAPELLIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,006,980 shares; 2024Q4: 3,006,980 shares; 2025Q1: 2,094,000 shares; 2025Q2: 903,500 shares; 2025Q3: 903,500 shares 903,500$20.4M3.19%0Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 266,000 shares; 2025Q3: 360,000 shares 360,000$20.4M3.18%+94,000Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,012,052 shares; 2024Q4: 1,993,052 shares; 2025Q1: 1,425,000 shares; 2025Q2: 1,030,000 shares; 2025Q3: 830,000 shares 830,000$20.1M3.14%-200,000Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 620,470 shares; 2024Q4: 778,000 shares; 2025Q1: 769,815 shares; 2025Q2: 672,595 shares; 2025Q3: 722,595 shares 722,595$18M2.81%+50,000Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,370,000 shares; 2025Q1: 1,370,000 shares; 2025Q2: 1,273,333 shares; 2025Q3: 1,273,333 shares 1,273,333$15.5M2.42%0Timeline
CRBPCORBUS PHARMACEUTICALS HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,115,000 shares; 2024Q4: 1,115,000 shares; 2025Q1: 1,115,000 shares; 2025Q2: 1,115,000 shares; 2025Q3: 1,115,000 shares 1,115,000$14.1M2.2%0Timeline
BBOTBRIDGEBIO ONCOLOGY THERAPEUTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,043,110 shares 1,043,110$12.1M1.89%newTimeline
DBVTDBV TECHNOLOGIES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,018,021 shares; 2025Q3: 1,018,021 shares 1,018,021$10.2M1.59%0Timeline
NUVBNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,171,513 shares; 2024Q4: 9,202,907 shares; 2025Q1: 7,900,000 shares; 2025Q2: 7,691,334 shares; 2025Q3: 2,633,334 shares 2,633,334$9.74M1.52%-5,058,000Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$9.58M1.49%newTimeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 468,000 shares; 2025Q2: 177,667 shares; 2025Q3: 177,667 shares 177,667$4.61M0.72%0Timeline
NGNENEUROGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,000 shares; 2024Q4: 303,000 shares; 2025Q1: 303,000 shares; 2025Q2: 303,000 shares; 2025Q3: 252,000 shares 252,000$4.37M0.68%-51,000Timeline
UNCYUNICYCIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares 1,000,000$4.36M0.68%0Timeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 376,117 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 700,000 shares 700,000$3.23M0.5%newTimeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,198,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 115,000 shares 115,000$3.22M0.5%newTimeline
NUVATION BIO INCNUVATION BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 312,336 shares; 2024Q4: 312,336 shares; 2025Q1: 27,330,800 shares; 2025Q2: 154,112 shares; 2025Q3: 104,112 shares 104,112$385K0.06%-50,000

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
CDTXCIDARA THERAPEUTICS INC COM NEWcall200,000$19.2Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
VERONA PHARMA PLCVERONA PHARMA PLC337,000$31.9Mshares
SPRYARS PHARMACEUTICALS INC1,350,000$23.6Mshares
ATYRATYR PHARMA INC3,820,000$19.4Mshares
Tourmaline Bio IncTourmaline Bio Inc905,000$14.5Mshares
MLTXMOONLAKE IMMUNOTHERAPEUTICS148,000$6.99Mshares
HELIX ACQUISITION CORP IIHELIX ACQUISITION CORP II250,000$2.66Mshares
KLRSKALARIS THERAPEUTICS INC360,000$961Kshares
ERASERASCA INC700,000$889Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001839435-25-000010 base2025-11-14acceptance time not in the bulk data set