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PERCEPTIVE ADVISORS LLC

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13F filer, CIK 1224962, NEW YORK, NY

PERCEPTIVE ADVISORS LLC reported $2,830,733,555 across 87 holdings for the quarter ended 2025-03-31, in a 13F-HR/A filed 2025-08-06. Its ten largest share positions make up 54.76% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0001012975-25-000422

Period
2025-03-31
Reported value
$2.83B
Holdings
87
Top 10 weight
54.76%
New
16
Sold out
28

Part of the filer group PERCEPTIVE ADVISORS LLC

  • Joseph Edelman
  • Perceptive Capital Solutions Holdings LP
  • Perceptive Life Sciences Master Fund, Ltd.
How groups are built

Stakes and trades reported after 2025-03-31

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.

  • KARD KARDIGAN INC: 13D/A 8,254,144 shares, 8.8% of the class, 13D/A filed 2026-10-01, 0001193125-26-410754Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
EWTXadded+3,861,791$85M
INSMadded+365,300$27.9M
BBNXnew+1,593,608$19.5M
DYNadded+1,770,126$18.5M
SLDBadded+5,000,000$18.5M

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.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
NUVLreduced-986,009-$69.9M
INTRA-CELLULAR THERAPIES INCreduced-501,970-$66.2M
RYTMreduced-1,132,028-$60M
CNTAreduced-3,308,825-$47.6M
PODDreduced-160,672-$42.2M

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, Q1 2025

Share positions as resolved from 13F-HR/A 0001012975-25-000422, largest first. % of portfolio is the value over $2,819,733,555, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,315,933 shares; 2024Q4: 6,392,106 shares; 2025Q1: 6,563,340 shares 6,563,340$417M14.78%+171,234
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,888,669 shares; 2024Q4: 3,478,888 shares; 2025Q1: 2,926,478 shares 2,926,478$192M6.81%-552,410Timeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,057,456 shares; 2024Q4: 24,245,952 shares; 2025Q1: 21,464,527 shares 21,464,527$175M6.21%-2,781,425Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,330,294 shares; 2024Q4: 2,685,537 shares; 2025Q1: 6,547,328 shares 6,547,328$144M5.11%+3,861,791Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,560,214 shares; 2024Q4: 3,680,473 shares; 2025Q1: 2,548,445 shares 2,548,445$135M4.79%-1,132,028Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,979,235 shares; 2024Q4: 2,619,977 shares; 2025Q1: 1,633,968 shares 1,633,968$116M4.11%-986,009Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,204,976 shares; 2024Q4: 1,501,040 shares; 2025Q1: 1,506,602 shares 1,506,602$108M3.82%+5,562Timeline
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,622,215 shares; 2024Q4: 1,288,328 shares; 2025Q1: 786,358 shares 786,358$104M3.68%-501,970
MGTXMEIRAGTX HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,581,103 shares; 2024Q4: 12,581,103 shares; 2025Q1: 12,581,103 shares 12,581,103$85.3M3.02%0Timeline
AORTARTIVION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,793,703 shares; 2024Q4: 2,793,703 shares; 2025Q1: 2,793,703 shares 2,793,703$68.7M2.44%0Timeline
ALDXALDEYRA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,275,851 shares; 2024Q4: 9,275,851 shares; 2025Q1: 9,275,851 shares 9,275,851$53.3M1.89%0Timeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,374,563 shares; 2024Q4: 1,271,662 shares; 2025Q1: 1,091,271 shares 1,091,271$52.8M1.87%-180,391Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,356,622 shares; 2024Q4: 5,145,846 shares; 2025Q1: 4,129,142 shares 4,129,142$49.7M1.76%-1,016,704Timeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,378,762 shares; 2024Q4: 2,139,199 shares; 2025Q1: 2,844,072 shares 2,844,072$48.6M1.72%+704,873Timeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,906,646 shares; 2024Q4: 6,906,646 shares; 2025Q1: 11,906,646 shares 11,906,646$44.1M1.56%+5,000,000Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,282,290 shares; 2024Q4: 6,349,220 shares; 2025Q1: 3,040,395 shares 3,040,395$43.7M1.55%-3,308,825Timeline
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,617,709 shares; 2024Q4: 22,112,266 shares; 2025Q1: 12,711,788 shares 12,711,788$42.3M1.5%-9,400,478Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,086,159 shares; 2024Q4: 9,383,456 shares; 2025Q1: 9,383,456 shares 9,383,456$42.3M1.5%0Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,015,007 shares; 2024Q4: 1,047,232 shares; 2025Q1: 1,122,767 shares 1,122,767$41.9M1.49%+75,535Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 782,844 shares; 2024Q4: 664,074 shares; 2025Q1: 355,107 shares 355,107$41.4M1.47%-308,967Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 180,000 shares; 2024Q4: 144,000 shares; 2025Q1: 509,300 shares 509,300$38.9M1.38%+365,300Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,872,547 shares; 2024Q4: 2,574,723 shares; 2025Q1: 2,313,272 shares 2,313,272$37.3M1.32%-261,451Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,164,035 shares; 2024Q4: 1,329,735 shares; 2025Q1: 980,894 shares 980,894$37.1M1.32%-348,841Timeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,839 shares; 2024Q4: 67,471 shares; 2025Q1: 59,510 shares 59,510$35.2M1.25%-7,961Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,485,420 shares; 2024Q4: 6,485,420 shares; 2025Q1: 6,485,420 shares 6,485,420$34.6M1.23%0
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,714,806 shares; 2024Q4: 1,185,592 shares; 2025Q1: 792,960 shares 792,960$32.1M1.14%-392,632Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 300,000 shares; 2025Q1: 690,485 shares 690,485$29.1M1.03%+390,485
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,125,649 shares; 2024Q4: 6,774,348 shares; 2025Q1: 7,874,348 shares 7,874,348$27.9M0.99%+1,100,000Timeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,060,200 shares; 2024Q4: 890,280 shares; 2025Q1: 1,373,233 shares 1,373,233$27.2M0.97%+482,953Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,027,608 shares; 2024Q4: 1,718,417 shares; 2025Q1: 706,567 shares 706,567$26.7M0.95%-1,011,850Timeline
JANXJANUX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 817,895 shares; 2025Q1: 970,412 shares 970,412$26.2M0.93%+152,517Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 718,144 shares; 2024Q4: 543,277 shares; 2025Q1: 2,313,403 shares 2,313,403$24.2M0.86%+1,770,126Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,362,279 shares; 2024Q4: 2,362,279 shares; 2025Q1: 2,362,279 shares 2,362,279$23.9M0.85%0Timeline
ZYMEZYMEWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,180,020 shares; 2024Q4: 2,130,020 shares; 2025Q1: 1,864,672 shares 1,864,672$22.2M0.79%-265,348Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 58,119 shares; 2024Q4: 63,119 shares; 2025Q1: 40,619 shares 40,619$20.1M0.71%-22,500Timeline
OBIOORCHESTRA BIOMED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,592,556 shares; 2024Q4: 4,592,556 shares; 2025Q1: 4,592,556 shares 4,592,556$19.7M0.7%0Timeline
BBNXBETA BIONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,593,608 shares 1,593,608$19.5M0.69%newTimeline
PODDINSULET CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,269 shares; 2024Q4: 232,269 shares; 2025Q1: 71,597 shares 71,597$18.8M0.67%-160,672Timeline
RGENREPLIGEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 129,801 shares 129,801$16.5M0.59%newTimeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 403,649 shares; 2025Q1: 444,649 shares 444,649$16M0.57%+41,000Timeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 46,500 shares 46,500$15.4M0.55%newTimeline
INBXINHIBRX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,064,026 shares; 2024Q4: 1,064,026 shares; 2025Q1: 1,064,026 shares 1,064,026$14.9M0.53%0Timeline
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 130,000 shares 130,000$13.1M0.47%newTimeline
SIONSIONNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,251,101 shares 1,251,101$13.1M0.46%newTimeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,925,000 shares; 2025Q1: 5,925,000 shares 5,925,000$13M0.46%0Timeline
VKTXVIKING THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,699,987 shares; 2024Q4: 995,894 shares; 2025Q1: 509,005 shares 509,005$12.3M0.44%-486,889Timeline
DXCMDEXCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 178,000 shares 178,000$12.2M0.43%newTimeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 212,228 shares; 2024Q4: 100,050 shares; 2025Q1: 100,050 shares 100,050$11.1M0.39%0Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 524,930 shares; 2024Q4: 325,324 shares; 2025Q1: 325,324 shares 325,324$10.9M0.39%0Timeline
ACRVACRIVON THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,360,858 shares; 2024Q4: 5,360,858 shares; 2025Q1: 5,360,858 shares 5,360,858$10.9M0.39%0Timeline
NAUTNAUTILUS BIOTECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,594,211 shares; 2024Q4: 12,594,211 shares; 2025Q1: 12,594,211 shares 12,594,211$10.8M0.38%0Timeline
AQSTAQUESTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,727,208 shares 3,727,208$10.8M0.38%newTimeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,516,668 shares; 2024Q4: 1,441,249 shares; 2025Q1: 1,441,249 shares 1,441,249$10.1M0.36%0Timeline
CARGO THERAPEUTICS INC COMCARGO THERAPEUTICS INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,683,004 shares; 2024Q4: 3,683,004 shares; 2025Q1: 2,431,085 shares 2,431,085$9.89M0.35%-1,251,919
OMOUTSET MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 833,333 shares 833,333$9.22M0.33%newTimeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,812,665 shares; 2024Q4: 1,486,508 shares; 2025Q1: 659,662 shares 659,662$8.89M0.32%-826,846Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,037,274 shares; 2024Q4: 1,537,274 shares; 2025Q1: 1,537,274 shares 1,537,274$8.33M0.3%0Timeline
ADGMADAGIO MED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,812,419 shares; 2024Q4: 9,812,419 shares; 2025Q1: 9,812,419 shares 9,812,419$7.9M0.28%0Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,140,000 shares; 2025Q1: 2,140,000 shares 2,140,000$7.79M0.28%0Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 387,017 shares; 2024Q4: not reported; 2025Q1: 150,000 shares 150,000$7.45M0.26%newTimeline
ADPTADAPTIVE BIOTECHNOLOGIES CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 930,972 shares 930,972$6.92M0.25%newTimeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,324,468 shares; 2024Q4: 1,078,495 shares; 2025Q1: 915,775 shares 915,775$6.71M0.24%-162,720Timeline
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 50,000 shares; 2025Q1: 462,422 shares 462,422$5.89M0.21%+412,422Timeline
RAPT THERAPEUTICS INCRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,880,000 shares; 2025Q1: 4,418,947 shares 4,418,947$5.39M0.19%-1,461,053
KMTSKESTRA MED TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 200,000 shares 200,000$4.98M0.18%newTimeline
HELIX ACQUISITION CORP IIHELIX ACQUISITION CORP IIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 398,000 shares 398,000$4.5M0.16%-102,000
OKURONKURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,004,439 shares; 2025Q1: 1,004,439 shares 1,004,439$4.32M0.15%0Timeline
IRDOPUS GENETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,325,000 shares 4,325,000$4.25M0.15%newTimeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 520,000 shares 520,000$4.17M0.15%newTimeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 330,614 shares; 2025Q1: 297,553 shares 297,553$3.53M0.13%-33,061Timeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 815,722 shares; 2024Q4: 1,085,512 shares; 2025Q1: 876,961 shares 876,961$1.97M0.07%-208,551Timeline
LYRA THERAPEUTICS INCLYRA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,757,562 shares; 2024Q4: 12,757,562 shares; 2025Q1: 12,757,562 shares 12,757,562$1.61M0.06%0
KALAKALA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 277,610 shares 277,610$1.59M0.06%newTimeline
ATHIRA PHARMA INCATHIRA PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,402,964 shares; 2024Q4: 5,402,964 shares; 2025Q1: 5,402,964 shares 5,402,964$1.54M0.05%0
BIODESIX INCBIODESIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,173,880 shares; 2024Q4: 2,173,880 shares; 2025Q1: 2,173,880 shares 2,173,880$1.36M0.05%0
SCPHARMACEUTICALS INCSCPHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares 500,000$1.31M0.05%0
TRAWTRAWS PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 164,157 shares; 2025Q1: 421,781 shares 421,781$970K0.03%+257,624Timeline
RCKTROCKET PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 931,851 shares; 2024Q4: 378,584 shares; 2025Q1: 140,726 shares 140,726$939K0.03%-237,858Timeline
CGEMCULLINAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 80,100 shares 80,100$606K0.02%newTimeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,835 shares; 2024Q4: 139,835 shares; 2025Q1: 139,835 shares 139,835$485K0.02%0Timeline
Applied Therapeutics IncApplied Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,005,000 shares; 2024Q4: 860,000 shares; 2025Q1: 860,000 shares 860,000$420K0.01%0
NBTXNANOBIOTIXQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 555,066 shares; 2024Q4: 266,093 shares; 2025Q1: 105,053 shares 105,053$376K0.01%-161,040Timeline
ENSCENSYSCE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 86,666 shares; 2025Q1: 86,666 shares 86,666$222K0.01%0Timeline
APYXAPYX MEDICAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 150,000 shares; 2025Q1: 150,000 shares 150,000$206K0.01%0Timeline
RVMDWREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares 250,000$9.5K<0.01%0Timeline
SRZNWSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,666 shares; 2024Q4: 166,666 shares; 2025Q1: 166,666 shares 166,666$5K<0.01%0Timeline

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
EWTXEDGEWISE THERAPEUTICS INC COMcall500,000$11Mnew

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
PRAXPRAXIS PRECISION MEDICINES I500,000$38.5Mcall
PRCTPROCEPT BIOROBOTICS CORP290,659$23.4Mshares
NTRANATERA INC125,000$19.8Mshares
PENPENUMBRA INC73,338$17.4Mshares
SEPNSEPTERNA INC750,000$17.2Mshares
ORKAORUKA THERAPEUTICS INC845,567$16.4Mshares
ARVNARVINAS INC740,749$14.2Mshares
CGONCG ONCOLOGY INC419,450$12Mshares
EWEDWARDS LIFESCIENCES CORP145,000$10.7Mshares
TARSTARSUS PHARMACEUTICALS INC186,662$10.3Mshares
CRNXCRINETICS PHARMACEUTICALS IN184,525$9.43Mshares
INARI MED INCINARI MED INC178,797$9.13Mshares
ZBIOZENAS BIOPHARMA INC744,035$6.09Mshares
IRTCIRHYTHM HOLDINGS INC65,153$5.87Mshares
RAPPRAPPORT THERAPEUTICS INC311,551$5.53Mshares
CBLLCERIBELL INC180,546$4.67Mshares
Veru IncVeru Inc6,483,157$4.22Mshares
CATXPERSPECTIVE THERAPEUTICS INC1,190,263$3.8Mshares
LCTXLINEAGE CELL THERAPEUTICS IN7,236,843$3.64Mshares
PEPGPEPGEN INC829,536$3.14Mshares
IBRXIMMUNITYBIO INC1,221,734$3.13Mshares
BCYCBICYCLE THERAPEUTICS PLC197,108$2.76Mshares
VERRICA PHARMACEUTICALS INCVERRICA PHARMACEUTICALS INC3,249,669$2.27Mshares
FBRXFORTE BIOSCIENCES INC95,742$2.17Mshares
TRIBTRINITY BIOTECH INVT LTD1,790,000$1.58Mshares
FULCFULCRUM THERAPEUTICS INC238,000$1.12Mshares
NVAXNOVAVAX INC100,000$804Kput
PYXSPYXIS ONCOLOGY INC188,462$294Kshares

How Q1 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 0001012975-25-000242 superseded2025-05-15acceptance time not in the bulk data set
13F-HR/A 0001012975-25-000422 baserestatement2025-08-06acceptance time not in the bulk data set