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Paradigm Biocapital Advisors LP

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13F filer, CIK 1855655, NEW YORK, NY

Paradigm Biocapital Advisors LP reported $3,917,829,903 across 30 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 73.81% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001855655-26-000003

Period
2025-12-31
Reported value
$3.92B
Holdings
30
Top 10 weight
73.81%
New
8
Sold out
14

Part of the filer group Paradigm Biocapital Advisors LP

  • Paradigm BioCapital Advisors GP LLC
  • Paradigm BioCapital International Fund Ltd.
  • Senai Asefaw, M.D.
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.

  • OBX OBSIDIAN THERAPEUTICS INC: 13G 4,101,576 shares, 6.6% of the class, 13G filed 2026-10-05, 0001104659-26-113688Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GMABadded+3,222,983$99.3M
ACLXadded+1,075,000$70.1M
ORKAnew+1,710,316$51.8M
LXEOnew+4,763,198$47.3M
SRRKadded+1,052,412$46.4M

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

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MERUS N Vexited-4,373,770-$412M
AGIOexited-2,673,555-$107M
JANXexited-2,920,258-$71.4M
ALKSexited-1,719,334-$51.6M
LENZexited-1,073,461-$50M

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 0001855655-26-000003, largest first. % of portfolio is the value over $3,734,934,903, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,000,000 shares; 2024Q4: 5,363,379 shares; 2025Q1: 5,269,433 shares; 2025Q2: 5,269,433 shares; 2025Q3: 5,269,433 shares; 2025Q4: 5,269,433 shares 5,269,433$530M14.19%0Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,314,089 shares; 2024Q4: 6,553,111 shares; 2025Q1: 6,178,111 shares; 2025Q2: 6,093,291 shares; 2025Q3: 6,223,291 shares; 2025Q4: 6,644,403 shares 6,644,403$529M14.17%+421,112Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,371,601 shares; 2025Q1: 4,492,032 shares; 2025Q2: 4,649,016 shares; 2025Q3: 4,649,016 shares; 2025Q4: 5,724,016 shares 5,724,016$373M9.99%+1,075,000Timeline
GMABGENMAB A/SQuarterly 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: 3,816,851 shares; 2025Q4: 7,039,834 shares 7,039,834$217M5.81%+3,222,983Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,440,445 shares; 2024Q4: 2,531,896 shares; 2025Q1: 2,610,197 shares; 2025Q2: 2,976,099 shares; 2025Q3: 2,665,698 shares; 2025Q4: 2,562,154 shares 2,562,154$210M5.62%-103,544Timeline
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: 1,564,196 shares; 2025Q4: 1,417,473 shares 1,417,473$191M5.12%-146,723Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,503,600 shares; 2024Q4: 7,304,970 shares; 2025Q1: 6,741,172 shares; 2025Q2: 6,764,172 shares; 2025Q3: 6,794,172 shares; 2025Q4: 7,544,172 shares 7,544,172$189M5.05%+750,000Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 627,732 shares; 2024Q4: 1,422,787 shares; 2025Q1: 1,696,481 shares; 2025Q2: 3,372,837 shares; 2025Q3: 3,784,755 shares; 2025Q4: 4,068,020 shares 4,068,020$188M5.03%+283,265Timeline
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: not reported; 2025Q3: 961,164 shares; 2025Q4: 759,565 shares 759,565$168M4.49%-201,599Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,789,172 shares; 2024Q4: 4,493,929 shares; 2025Q1: 4,394,556 shares; 2025Q2: 6,142,344 shares; 2025Q3: 6,170,131 shares; 2025Q4: 6,541,210 shares 6,541,210$162M4.35%+371,079Timeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 400,000 shares; 2025Q1: not reported; 2025Q2: 1,600,554 shares; 2025Q3: 2,009,745 shares; 2025Q4: 3,062,157 shares 3,062,157$135M3.61%+1,052,412Timeline
URGNUROGEN PHARMA LTDQuarterly 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: 4,216,084 shares; 2025Q4: 4,473,648 shares 4,473,648$105M2.81%+257,564Timeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,516,686 shares; 2024Q4: 1,910,761 shares; 2025Q1: 1,946,168 shares; 2025Q2: 2,343,553 shares; 2025Q3: 2,550,774 shares; 2025Q4: 2,210,774 shares 2,210,774$103M2.76%-340,000Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 701,817 shares; 2024Q4: 1,283,766 shares; 2025Q1: 961,707 shares; 2025Q2: 958,630 shares; 2025Q3: 1,521,757 shares; 2025Q4: 1,123,243 shares 1,123,243$84.8M2.27%-398,514Timeline
EYPTEYEPOINT 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: 2,005,365 shares; 2025Q4: 3,691,475 shares 3,691,475$67.4M1.81%+1,686,110Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,668,141 shares; 2024Q4: 10,752,354 shares; 2025Q1: 10,802,354 shares; 2025Q2: 11,907,182 shares; 2025Q3: 13,560,017 shares; 2025Q4: 14,159,095 shares 14,159,095$52.7M1.41%+599,078Timeline
BBIOBRIDGEBIO PHARMA 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: 965,764 shares; 2025Q3: 684,277 shares; 2025Q4: 684,277 shares 684,277$52.3M1.4%0Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 719,660 shares; 2024Q4: 819,660 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,710,316 shares 1,710,316$51.8M1.39%newTimeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,267,581 shares; 2024Q4: 1,527,205 shares; 2025Q1: 2,127,205 shares; 2025Q2: 1,870,445 shares; 2025Q3: 1,467,266 shares; 2025Q4: 1,467,266 shares 1,467,266$48.1M1.29%02026-09-24, 13G: 4,457,450 shares, 5.1% of the class, 13G filed 2026-10-01 Timeline
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: 4,763,198 shares 4,763,198$47.3M1.27%newTimeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,895,689 shares; 2024Q4: 1,820,079 shares; 2025Q1: 2,095,079 shares; 2025Q2: 2,741,576 shares; 2025Q3: 2,609,353 shares; 2025Q4: 1,443,102 shares 1,443,102$44.9M1.2%-1,166,251Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,314,018 shares; 2025Q2: 3,420,340 shares; 2025Q3: 3,497,307 shares; 2025Q4: 2,935,284 shares 2,935,284$35.6M0.95%-562,023Timeline
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: 810,286 shares 810,286$32.7M0.88%newTimeline
BBOTBRIDGEBIO ONCOLOGY THERAPEUTQuarterly 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: 1,866,141 shares; 2025Q4: 2,261,749 shares 2,261,749$28.3M0.76%+395,608Timeline
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: 1,750,000 shares 1,750,000$22.9M0.61%newTimeline
ASMBASSEMBLY 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: 665,251 shares 665,251$22.6M0.61%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: 2,401,217 shares 2,401,217$19.6M0.53%newTimeline
IVAINVENTIVA 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: not reported; 2025Q4: 4,000,000 shares 4,000,000$18.6M0.5%newTimeline
KLRSKALARIS 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: 700,000 shares 700,000$5.91M0.16%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
XBISPDR SERIES TRUST S&P BIOTECHput1,500,000$183M+500,000

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
MERUS N VMERUS N V4,373,770$412Mshares
AGIOAGIOS PHARMACEUTICALS INC2,673,555$107Mshares
JANXJANUX THERAPEUTICS INC2,920,258$71.4Mshares
ALKSALKERMES PLC1,719,334$51.6Mshares
LENZLENZ THERAPEUTICS INC1,073,461$50Mshares
PHVSPHARVARIS N V1,835,494$45.8Mshares
COGTCOGENT BIOSCIENCES INC3,156,398$45.3Mshares
MERUS N VMERUS N V300,000$28.2Mcall
TNGXTANGO THERAPEUTICS INC3,086,184$25.9Mshares
AMLXAMYLYX PHARMACEUTICALS INC1,900,000$25.8Mshares
DYNDYNE THERAPEUTICS INC1,898,950$24Mshares
IRONDISC MEDICINE INC247,716$16.4Mshares
GPCRSTRUCTURE THERAPEUTICS INC372,869$10.4Mshares
AGIOAGIOS PHARMACEUTICALS INC200,000$8.03Mcall

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 0001855655-26-000003 base2026-02-17acceptance time not in the bulk data set