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QVT Financial LP

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13F filer, CIK 1290162, New York, NY

QVT Financial LP reported $1,086,083,260 across 40 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 85.73% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000950123-25-005738

Period
2025-03-31
Reported value
$1.09B
Holdings
40
Top 10 weight
85.73%
New
9
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
Tourmaline Bio Incadded+762,094$11.6M
GSadded+7,000$3.82M
WHWKadded+2,202,007$3.72M
ALLTadded+482,062$2.75M
METAnew+1,361$784K

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
MPreduced-227,400-$5.55M
ARGXreduced-3,468-$2.05M
JDexited-32,274-$1.12M
SRPTexited-3,117-$379K
BABAreduced-371-$49.1K

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 0000950123-25-005738, largest first. % of portfolio is the value over $1,049,420,960, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,793,779 shares; 2024Q4: 65,793,779 shares; 2025Q1: 65,793,779 shares 65,793,779$664M63.26%0Timeline
GSGOLDMAN SACHS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 67,926 shares; 2024Q4: 67,926 shares; 2025Q1: 74,926 shares 74,926$40.9M3.9%+7,000Timeline
MPMP MATERIALS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,494,158 shares; 2024Q4: 1,531,571 shares; 2025Q1: 1,304,171 shares 1,304,171$31.8M3.03%-227,400Timeline
ECOOKEANIS ECO TANKERS CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,423,997 shares; 2024Q4: 1,423,997 shares; 2025Q1: 1,423,997 shares 1,423,997$28.3M2.7%0Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 47,946 shares; 2024Q4: 47,946 shares; 2025Q1: 47,946 shares 47,946$25.5M2.43%0Timeline
NNINELNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 229,665 shares; 2024Q4: 229,665 shares; 2025Q1: 229,665 shares 229,665$25.5M2.43%0Timeline
Tourmaline Bio IncTourmaline 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: 711,275 shares; 2024Q4: 711,275 shares; 2025Q1: 1,473,369 shares 1,473,369$22.4M2.14%+762,094
NXSTNEXSTAR MEDIA GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,735 shares; 2024Q4: 121,587 shares; 2025Q1: 121,587 shares 121,587$21.8M2.08%0Timeline
ALLTALLOT LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,981,427 shares; 2024Q4: 3,205,793 shares; 2025Q1: 3,687,855 shares 3,687,855$21.1M2.01%+482,062Timeline
ATEXANTERIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 503,941 shares; 2024Q4: 503,941 shares; 2025Q1: 503,941 shares 503,941$18.4M1.76%0Timeline
NYTNEW YORK TIMES CO MTN BEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,947 shares; 2024Q4: 316,947 shares; 2025Q1: 316,947 shares 316,947$15.7M1.5%0Timeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,749,467 shares; 2024Q4: 1,749,467 shares; 2025Q1: 1,749,467 shares 1,749,467$10.9M1.04%0Timeline
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: 32,498 shares; 2024Q4: 16,498 shares; 2025Q1: 13,030 shares 13,030$7.71M0.73%-3,468Timeline
WHWKWHITEHAWK 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: 2,313,702 shares; 2025Q1: 4,515,709 shares 4,515,709$7.64M0.73%+2,202,007Timeline
SMMTSUMMIT 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: 360,524 shares; 2024Q4: 360,524 shares; 2025Q1: 360,524 shares 360,524$6.95M0.66%0Timeline
NENOBLE CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,634 shares; 2024Q4: 208,634 shares; 2025Q1: 208,634 shares 208,634$4.94M0.47%0Timeline
WBDWARNER BROS DISCOVERY 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: 457,850 shares; 2025Q1: 457,850 shares 457,850$4.91M0.47%0Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,006 shares; 2024Q4: 170,006 shares; 2025Q1: 170,006 shares 170,006$4.09M0.39%0Timeline
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: 678,564 shares; 2024Q4: 678,564 shares; 2025Q1: 678,564 shares 678,564$2.26M0.22%0Timeline
SNPSSYNOPSYS 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: 3,886 shares; 2025Q1: 4,503 shares 4,503$1.93M0.18%+617Timeline
INFORMATICA INCINFORMATICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,817 shares; 2024Q4: 90,817 shares; 2025Q1: 90,817 shares 90,817$1.58M0.15%0
GTNGRAY MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 291,452 shares; 2024Q4: 291,452 shares; 2025Q1: 291,452 shares 291,452$1.26M0.12%0Timeline
CMTLCOMTECH TELECOMMUNICATIONS CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 605,773 shares; 2024Q4: 605,773 shares; 2025Q1: 705,773 shares 705,773$1.13M0.11%+100,000Timeline
METAMETA PLATFORMS 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: 1,361 shares 1,361$784K0.07%newTimeline
APPAPPLOVIN 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: 2,889 shares 2,889$765K0.07%newTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,813 shares; 2024Q4: 4,813 shares; 2025Q1: 4,442 shares 4,442$587K0.06%-371Timeline
ACADACADIA 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: 19,613 shares; 2024Q4: 19,613 shares; 2025Q1: 19,613 shares 19,613$326K0.03%0Timeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,429 shares; 2024Q4: 4,429 shares; 2025Q1: 4,429 shares 4,429$313K0.03%0Timeline
MDBMONGODB 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: 1,581 shares 1,581$277K0.03%newTimeline
Mersana Therapeutics IncMersana 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: 62,657 shares; 2024Q4: 62,657 shares; 2025Q1: 62,657 shares 62,657$21.6K<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
GSGOLDMAN SACHS GROUP INC COMput33,000$18Mnew
SPYSTATE STR SPDR S&P 500 ETF T SHSput27,000$15.1Mnew
IONQIONQ INC Stockput160,000$3.53Mnew

Principal amounts

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

SecurityTypeAmountValueChange
MAKEMYTRIP LIMITED MAURITIUSMAKEMYTRIP LIMITED MAURITIUS NOTE 2/1principal6,500,000$16.7M0
SEA LTDSEA LTD NOTE 0.250% 9/1principal17,500,000$16.4M+2,500,000
ZILLOW GROUP INCZILLOW GROUP INC NOTE 2.750% 5/1principal15,000,000$15.8Mnew
DATADOG INCDATADOG INC NOTE 0.125% 6/1principal10,000,000$11.2Mnew
AMERICAN AIRLINES GROUP INCAMERICAN AIRLINES GROUP INC NOTE 6.500% 7/0principal8,500,000$8.66Mnew
INFINERA CORPINFINERA CORP BONDprincipal5,000,000$6.03M0
INFINERA CORPINFINERA CORP BONDprincipal718,000$893K0

Sold out in Q1 2025

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

SecurityShares beforeValue beforeType
NIO INCNIO INC8,500,000$8.44Mprincipal
ZIMZIM INTEGRATED SHIPPING SERV346,500$7.44Mput
JDJD.COM INC32,274$1.12Mshares
SRPTSAREPTA THERAPEUTICS INC3,117$379Kshares

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 0000950123-25-005738 base2025-05-15acceptance time not in the bulk data set