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Rock Springs Capital Management LP

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13F filer, CIK 1595725, Baltimore, MD

Rock Springs Capital Management LP reported $1,711,523,566 across 93 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 37.73% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004882

Period
2025-09-30
Reported value
$1.71B
Holdings
93
Top 10 weight
37.73%
New
10
Sold out
10

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CDTXadded+115,269$11M
HTFLnew+250,000$8.41M
LENZadded+152,245$7.09M
TVTXadded+256,565$6.13M
MBXnew+282,624$4.95M

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 Vreduced-466,557-$43.9M
ARGXreduced-33,000-$24.3M
BLUEPRINT MEDICINES CORPexited-185,500-$23.8M
INSMreduced-140,000-$20.2M
UNHexited-50,500-$15.8M

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 0001172661-25-004882, largest first. % of portfolio is the value over $1,710,624,862, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,500 shares; 2024Q4: 229,600 shares; 2025Q1: 175,750 shares; 2025Q2: 175,750 shares; 2025Q3: 142,750 shares 142,750$105M6.15%-33,000Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,000 shares; 2024Q4: 144,500 shares; 2025Q1: 113,500 shares; 2025Q2: 116,500 shares; 2025Q3: 105,400 shares 105,400$80.4M4.7%-11,100Timeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,228,093 shares; 2024Q4: 1,162,718 shares; 2025Q1: 834,188 shares; 2025Q2: 861,153 shares; 2025Q3: 717,102 shares 717,102$72.4M4.23%-144,051Timeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 263,062 shares; 2024Q4: 265,212 shares; 2025Q1: 166,698 shares; 2025Q2: 140,296 shares; 2025Q3: 137,746 shares 137,746$63.2M3.69%-2,550Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,009,945 shares; 2024Q4: 1,213,257 shares; 2025Q1: 1,281,640 shares; 2025Q2: 1,330,960 shares; 2025Q3: 1,335,270 shares 1,335,270$62.4M3.65%+4,310Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 892,549 shares; 2024Q4: 892,549 shares; 2025Q1: 980,751 shares; 2025Q2: 1,063,608 shares; 2025Q3: 597,051 shares 597,051$56.2M3.29%-466,557
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,580,488 shares; 2024Q4: 1,471,564 shares; 2025Q1: 951,765 shares; 2025Q2: 818,206 shares; 2025Q3: 761,126 shares 761,126$55.8M3.26%-57,080Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 683,344 shares; 2024Q4: 550,000 shares; 2025Q1: 515,900 shares; 2025Q2: 525,000 shares; 2025Q3: 385,000 shares 385,000$55.4M3.24%-140,000Timeline
TVTXTRAVERE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,684,476 shares; 2024Q4: 4,973,649 shares; 2025Q1: 2,921,196 shares; 2025Q2: 1,908,208 shares; 2025Q3: 2,164,773 shares 2,164,773$51.7M3.02%+256,565Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 325,000 shares; 2024Q4: 305,000 shares; 2025Q1: 216,000 shares; 2025Q2: 217,000 shares; 2025Q3: 214,500 shares 214,500$42.6M2.49%-2,500Timeline
IRTCIRHYTHM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 397,500 shares; 2024Q4: 397,500 shares; 2025Q1: 254,300 shares; 2025Q2: 242,500 shares; 2025Q3: 235,000 shares 235,000$40.4M2.36%-7,500Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 699,389 shares; 2024Q4: 471,086 shares; 2025Q1: 342,180 shares; 2025Q2: 989,745 shares; 2025Q3: 958,542 shares 958,542$38.5M2.25%-31,203Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,978,272 shares; 2024Q4: 1,739,813 shares; 2025Q1: 1,394,434 shares; 2025Q2: 1,391,072 shares; 2025Q3: 1,246,341 shares 1,246,341$37.5M2.19%-144,731Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,000 shares; 2024Q4: 216,000 shares; 2025Q1: 102,000 shares; 2025Q2: 82,000 shares; 2025Q3: 82,000 shares 82,000$36.7M2.14%0Timeline
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,000 shares; 2024Q4: 460,000 shares; 2025Q1: 277,000 shares; 2025Q2: 355,000 shares; 2025Q3: 360,250 shares 360,250$35.2M2.06%+5,250Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,316,477 shares; 2024Q4: 1,251,859 shares; 2025Q1: 931,681 shares; 2025Q2: 931,681 shares; 2025Q3: 851,744 shares 851,744$34.2M2%-79,937Timeline
ALNYALNYLAM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 256,200 shares; 2025Q1: 143,250 shares; 2025Q2: 100,000 shares; 2025Q3: 74,250 shares 74,250$33.9M1.98%-25,750Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,147,500 shares; 2024Q4: 450,000 shares; 2025Q1: 480,000 shares; 2025Q2: 572,000 shares; 2025Q3: 593,500 shares 593,500$32.5M1.9%+21,500Timeline
PENPENUMBRA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 265,000 shares; 2024Q4: 240,000 shares; 2025Q1: 171,000 shares; 2025Q2: 128,500 shares; 2025Q3: 120,500 shares 120,500$30.5M1.78%-8,000Timeline
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 933,399 shares; 2024Q4: 946,499 shares; 2025Q1: 672,759 shares; 2025Q2: 640,526 shares; 2025Q3: 626,526 shares 626,526$29.7M1.74%-14,000Timeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 716,782 shares; 2025Q1: 761,541 shares; 2025Q2: 794,133 shares; 2025Q3: 794,133 shares 794,133$29.6M1.73%0Timeline
ZLABZAI LAB LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,315,673 shares; 2024Q4: 1,305,337 shares; 2025Q1: 904,592 shares; 2025Q2: 871,392 shares; 2025Q3: 791,193 shares 791,193$26.8M1.57%-80,199Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,063,910 shares; 2024Q4: 1,080,963 shares; 2025Q1: 1,132,979 shares; 2025Q2: 1,135,879 shares; 2025Q3: 951,154 shares 951,154$26.6M1.56%-184,725Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,049,386 shares; 2024Q4: 1,034,137 shares; 2025Q1: 794,437 shares; 2025Q2: 450,374 shares; 2025Q3: 450,374 shares 450,374$25.5M1.49%0Timeline
THCTENET HEALTHCARE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 129,200 shares; 2025Q1: 130,000 shares; 2025Q2: 130,000 shares; 2025Q3: 125,000 shares 125,000$25.4M1.48%-5,000Timeline
EVHEVOLENT HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,070,000 shares; 2024Q4: 2,060,000 shares; 2025Q1: 2,695,700 shares; 2025Q2: 2,820,700 shares; 2025Q3: 2,950,000 shares 2,950,000$25M1.46%+129,300Timeline
CAICARIS LIFE SCIENCES 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: 793,651 shares; 2025Q3: 793,651 shares 793,651$24M1.4%0Timeline
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: 134,133 shares; 2025Q3: 249,402 shares 249,402$23.9M1.4%+115,269Timeline
DXCMDEXCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 524,000 shares; 2024Q4: 353,000 shares; 2025Q1: 397,650 shares; 2025Q2: 286,750 shares; 2025Q3: 316,900 shares 316,900$21.3M1.25%+30,150Timeline
OMDAOMADA HEALTH 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: 919,951 shares; 2025Q3: 919,950 shares 919,950$20.3M1.19%-1Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,103,778 shares; 2024Q4: 1,222,182 shares; 2025Q1: 812,653 shares; 2025Q2: 812,653 shares; 2025Q3: 721,538 shares 721,538$18.7M1.09%-91,115Timeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 383,492 shares; 2024Q4: 487,863 shares; 2025Q1: 520,796 shares; 2025Q2: 617,396 shares; 2025Q3: 617,396 shares 617,396$17.9M1.05%0Timeline
PHRPHREESIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,282,500 shares; 2024Q4: 2,040,000 shares; 2025Q1: 1,148,336 shares; 2025Q2: 837,300 shares; 2025Q3: 749,116 shares 749,116$17.6M1.03%-88,184Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 110,889 shares; 2025Q1: 354,376 shares; 2025Q2: 373,750 shares; 2025Q3: 288,344 shares 288,344$17.1M1%-85,406Timeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 353,319 shares; 2024Q4: 767,522 shares; 2025Q1: 536,111 shares; 2025Q2: 536,111 shares; 2025Q3: 595,929 shares 595,929$16.9M0.99%+59,818Timeline
CMPXCOMPASS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,629,239 shares; 2024Q4: 5,779,575 shares; 2025Q1: 4,962,955 shares; 2025Q2: 4,962,955 shares; 2025Q3: 4,474,702 shares 4,474,702$15.7M0.92%-488,253Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 756,931 shares; 2024Q4: 775,131 shares; 2025Q1: 623,402 shares; 2025Q2: 623,402 shares; 2025Q3: 623,402 shares 623,402$15.6M0.91%0Timeline
AZTAAZENTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,500 shares; 2024Q4: 475,000 shares; 2025Q1: 475,000 shares; 2025Q2: 530,400 shares; 2025Q3: 540,400 shares 540,400$15.5M0.91%+10,000Timeline
MLYSMINERALYS 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: 320,813 shares; 2025Q2: 324,513 shares; 2025Q3: 408,313 shares 408,313$15.5M0.91%+83,800Timeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,250,280 shares; 2024Q4: 2,599,425 shares; 2025Q1: 1,909,362 shares; 2025Q2: 1,960,334 shares; 2025Q3: 1,947,374 shares 1,947,374$15.3M0.9%-12,960Timeline
XBISPDR SERIES TRUSTQuarterly 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: 151,750 shares; 2025Q3: 151,750 shares 151,750$15.2M0.89%0Timeline
ACLXARCELLX 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: 186,314 shares; 2025Q3: 178,982 shares 178,982$14.7M0.86%-7,332Timeline
SMMTSUMMIT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,040,000 shares; 2024Q4: 1,054,000 shares; 2025Q1: 995,000 shares; 2025Q2: 710,000 shares; 2025Q3: 710,000 shares 710,000$14.7M0.86%0Timeline
COGTCOGENT BIOSCIENCES 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: 800,199 shares; 2025Q3: 1,008,308 shares 1,008,308$14.5M0.85%+208,109Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 428,571 shares; 2024Q4: 428,571 shares; 2025Q1: 465,871 shares; 2025Q2: 701,408 shares; 2025Q3: 686,107 shares 686,107$14M0.82%-15,301Timeline
ZBIOZENAS BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 878,667 shares; 2024Q4: 878,667 shares; 2025Q1: 878,667 shares; 2025Q2: 640,467 shares; 2025Q3: 580,677 shares 580,677$12.9M0.75%-59,790Timeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 939,000 shares; 2024Q4: 720,500 shares; 2025Q1: 279,000 shares; 2025Q2: 88,800 shares; 2025Q3: 89,750 shares 89,750$12.6M0.74%+950Timeline
ARDXARDELYX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,463,629 shares; 2025Q1: 1,604,975 shares; 2025Q2: 2,286,273 shares; 2025Q3: 2,286,273 shares 2,286,273$12.6M0.74%0Timeline
DHRDANAHER CORP DELQuarterly 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: 58,800 shares; 2025Q2: 59,000 shares; 2025Q3: 61,500 shares 61,500$12.2M0.71%+2,500Timeline
LENZLENZ THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 29,305 shares; 2025Q1: 83,082 shares; 2025Q2: 83,982 shares; 2025Q3: 236,227 shares 236,227$11M0.64%+152,245Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 124,095 shares; 2025Q1: 124,095 shares; 2025Q2: 154,528 shares; 2025Q3: 154,528 shares 154,528$10.4M0.61%0Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 461,028 shares; 2024Q4: 474,528 shares; 2025Q1: 524,499 shares; 2025Q2: 580,998 shares; 2025Q3: 824,061 shares 824,061$10.4M0.61%+243,063Timeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,534,170 shares; 2024Q4: 9,599,170 shares; 2025Q1: 6,684,247 shares; 2025Q2: 4,465,292 shares; 2025Q3: 4,570,649 shares 4,570,649$9.42M0.55%+105,357Timeline
ACRSACLARIS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,753,495 shares; 2024Q4: 6,204,309 shares; 2025Q1: 5,046,309 shares; 2025Q2: 4,769,309 shares; 2025Q3: 4,609,309 shares 4,609,309$8.76M0.51%-160,000Timeline
GOSSGOSSAMER BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,266,960 shares; 2024Q4: 3,266,960 shares; 2025Q1: 3,266,960 shares; 2025Q2: 3,266,960 shares; 2025Q3: 3,266,960 shares 3,266,960$8.59M0.5%0Timeline
HTFLHEARTFLOW 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: 250,000 shares 250,000$8.41M0.49%newTimeline
INSPINSPIRE MED SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,000 shares; 2024Q4: 130,000 shares; 2025Q1: 99,250 shares; 2025Q2: 107,500 shares; 2025Q3: 110,500 shares 110,500$8.2M0.48%+3,000Timeline
AGLAGILON HEALTH INC COM (DE)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,096,800 shares; 2024Q4: 7,463,300 shares; 2025Q1: 6,950,000 shares; 2025Q2: 6,550,400 shares; 2025Q3: 6,966,300 shares 6,966,300$7.18M0.42%+415,900Timeline
EWEDWARDS LIFESCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 576,900 shares; 2024Q4: 545,000 shares; 2025Q1: 255,000 shares; 2025Q2: 131,000 shares; 2025Q3: 88,000 shares 88,000$6.84M0.4%-43,000Timeline
AMLXAMYLYX PHARMACEUTICALS 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: 343,228 shares; 2025Q2: 499,764 shares; 2025Q3: 499,764 shares 499,764$6.79M0.4%0Timeline
REGNREGENERON PHARMACEUTICALSQuarterly 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: 2,800 shares; 2025Q2: 11,300 shares; 2025Q3: 11,300 shares 11,300$6.35M0.37%0Timeline
BCAXBICARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 445,975 shares; 2024Q4: 445,975 shares; 2025Q1: 336,070 shares; 2025Q2: 336,070 shares; 2025Q3: 370,666 shares 370,666$5.85M0.34%+34,596Timeline
JANXJANUX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 204,466 shares; 2025Q1: 204,466 shares; 2025Q2: 210,266 shares; 2025Q3: 210,366 shares 210,366$5.14M0.3%+100Timeline
MBXMBX BIOSCIENCES 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: 282,624 shares 282,624$4.95M0.29%newTimeline
TMOTHERMO FISHER SCIENTIFIC 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: 10,000 shares; 2025Q3: 10,000 shares 10,000$4.85M0.28%0Timeline
BBIOBRIDGEBIO PHARMA 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: 85,000 shares 85,000$4.41M0.26%newTimeline
ATECALPHATEC HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 200,000 shares; 2025Q1: 267,500 shares; 2025Q2: 267,500 shares; 2025Q3: 302,500 shares 302,500$4.4M0.26%+35,000Timeline
ACHCACADIA HEALTHCARE COMPANY INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 815,000 shares; 2024Q4: 583,500 shares; 2025Q1: 681,100 shares; 2025Q2: 696,000 shares; 2025Q3: 170,000 shares 170,000$4.21M0.25%-526,000Timeline
OCULOCULAR THERAPEUTIX 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: 300,000 shares 300,000$3.51M0.21%newTimeline
TLPHTALPHERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,460 shares; 2024Q4: 316,460 shares; 2025Q1: 316,460 shares; 2025Q2: 316,460 shares; 2025Q3: 3,589,186 shares 3,589,186$3.21M0.19%+3,272,726Timeline
ALKSALKERMES PLCQuarterly 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: 106,537 shares 106,537$3.2M0.19%newTimeline
SIONSIONNA 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: 99,429 shares; 2025Q2: 99,429 shares; 2025Q3: 99,429 shares 99,429$2.92M0.17%0Timeline
FOCLEDAP TMS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,568,000 shares; 2024Q4: 1,591,800 shares; 2025Q1: 1,270,000 shares; 2025Q2: 1,270,000 shares; 2025Q3: 1,270,000 shares 1,270,000$2.91M0.17%0Timeline
JSPRJASPER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 459,088 shares; 2024Q4: 463,088 shares; 2025Q1: 545,171 shares; 2025Q2: 545,171 shares; 2025Q3: 1,100,726 shares 1,100,726$2.62M0.15%+555,555Timeline
WSTWEST PHARMACEUTICAL SVSC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 167,750 shares; 2024Q4: 168,750 shares; 2025Q1: 60,250 shares; 2025Q2: 51,030 shares; 2025Q3: 9,750 shares 9,750$2.56M0.15%-41,280Timeline
APLSAPELLIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,000 shares; 2024Q4: 80,000 shares; 2025Q1: 80,000 shares; 2025Q2: 84,300 shares; 2025Q3: 92,000 shares 92,000$2.08M0.12%+7,700Timeline
NGNENEUROGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 95,407 shares; 2025Q1: 104,339 shares; 2025Q2: 104,339 shares; 2025Q3: 104,339 shares 104,339$1.81M0.11%0Timeline
KRROKORRO BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,719 shares; 2024Q4: 35,719 shares; 2025Q1: 35,719 shares; 2025Q2: 35,719 shares; 2025Q3: 35,719 shares 35,719$1.71M0.1%0Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly 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: 69,240 shares 69,240$1.68M0.1%newTimeline
CATXPERSPECTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 414,396 shares; 2024Q4: 444,383 shares; 2025Q1: 444,383 shares; 2025Q2: 444,383 shares; 2025Q3: 444,383 shares 444,383$1.52M0.09%0Timeline
Applied Therapeutics IncApplied Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,746,449 shares; 2024Q4: 1,917,191 shares; 2025Q1: 2,074,891 shares; 2025Q2: 2,075,991 shares; 2025Q3: 2,075,991 shares 2,075,991$1.26M0.07%0
MERSANA THERAPEUTICS INCMERSANA 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: 152,586 shares 152,586$1.18M0.07%new
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,221,309 shares; 2024Q4: 909,103 shares; 2025Q1: 975,803 shares; 2025Q2: 221,500 shares; 2025Q3: 72,965 shares 72,965$1.18M0.07%-148,535Timeline
EYPTEYEPOINT 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: 31,655 shares 31,655$451K0.03%newTimeline
CRLCHARLES RIV LABS INTL 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: 2,700 shares; 2025Q3: 2,700 shares 2,700$422K0.02%0Timeline
PCVXVAXCYTE 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: 11,100 shares; 2025Q3: 11,100 shares 11,100$400K0.02%0Timeline
NVAXNOVAVAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 650,000 shares; 2025Q1: 650,000 shares; 2025Q2: 53,900 shares; 2025Q3: 45,000 shares 45,000$390K0.02%-8,900Timeline
PRTAPROTHENA CORP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 625,048 shares; 2024Q4: 644,601 shares; 2025Q1: 492,601 shares; 2025Q2: 492,601 shares; 2025Q3: 25,398 shares 25,398$248K0.01%-467,203Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly 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: 28,200 shares 28,200$202K0.01%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: 134,028 shares; 2024Q4: 134,028 shares; 2025Q1: 134,028 shares; 2025Q2: 134,028 shares; 2025Q3: 134,028 shares 134,028$27.1K<0.01%0
CGENCOMPUGEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 989,990 shares; 2024Q4: 989,990 shares; 2025Q1: 989,990 shares; 2025Q2: 989,990 shares; 2025Q3: 13,430 shares 13,430$19.7K<0.01%-976,560Timeline

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
NAMSNEWAMSTERDAM PHARMA COMPANY COMMON STOCKcall31,600$899Knew

Principal amounts

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

SecurityTypeAmountValueChange
GOSSAMER BIO INCGOSSAMER BIO INC NOTE 5.000% 6/0principal9,573,000$6.72M0

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORP185,500$23.8Mshares
UNHUNITEDHEALTH GROUP INC50,500$15.8Mshares
OSCROSCAR HEALTH INC700,000$15Mshares
NUVLNUVALENT INC93,328$7.12Mshares
CGEMCULLINAN THERAPEUTICS INC668,233$5.03Mshares
LUNGPULMONX CORP651,100$1.69Mshares
SRPTSAREPTA THERAPEUTICS INC68,600$1.17Mshares
Mersana Therapeutics IncMersana Therapeutics Inc3,814,684$1.13Mshares
ADAPYADAPTIMMUNE THERAPEUTICS PLC S2,483,468$595Kshares
89BIO INC89BIO INC40,000$393Kshares

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 0001172661-25-004882 base2025-11-14acceptance time not in the bulk data set