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Sio Capital Management, LLC

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13F filer, CIK 1482416, NEW YORK, NY

Sio Capital Management, LLC reported $635,740,442 across 68 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 55.19% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-26-001854

Period
2025-12-31
Reported value
$636M
Holdings
68
Top 10 weight
55.19%
New
27
Sold out
10

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CInew+172,203$47.4M
ZBHnew+385,642$34.7M
OGNnew+3,421,765$24.5M
ICLRnew+127,202$23.2M
WAYnew+613,725$20.1M

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
CELCreduced-309,459-$30.9M
IRONreduced-227,201-$18M
ALKSreduced-579,487-$16.2M
MRKexited-177,300-$14.9M
HSICexited-219,207-$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, Q4 2025

Share positions as resolved from 13F-HR 0001214659-26-001854, largest first. % of portfolio is the value over $603,158,458, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CELCCELCUITY 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: 786,526 shares; 2025Q4: 477,067 shares 477,067$47.6M7.89%-309,459Timeline
CITHE CIGNA GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,503 shares; 2024Q4: 98,003 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 172,203 shares 172,203$47.4M7.86%newTimeline
SNYSANOFI SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 387,000 shares; 2025Q1: not reported; 2025Q2: 187,500 shares; 2025Q3: 562,703 shares; 2025Q4: 971,686 shares 971,686$47.1M7.81%+408,983Timeline
MMSMAXIMUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,142 shares; 2024Q4: 381,423 shares; 2025Q1: 468,352 shares; 2025Q2: 548,086 shares; 2025Q3: 557,615 shares; 2025Q4: 500,304 shares 500,304$43.2M7.16%-57,311Timeline
ZBHZIMMER BIOMET HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,511 shares; 2024Q4: 174,811 shares; 2025Q1: 187,685 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 385,642 shares 385,642$34.7M5.75%newTimeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 474,741 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 844,000 shares; 2025Q4: 1,465,442 shares 1,465,442$25.3M4.19%+621,442Timeline
OGNORGANON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 606,410 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,421,765 shares 3,421,765$24.5M4.07%newTimeline
ICLRICON PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 195,500 shares; 2025Q1: 203,311 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 127,202 shares 127,202$23.2M3.84%newTimeline
WAYWAYSTAR HLDG CORPQuarterly 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: 613,725 shares 613,725$20.1M3.33%newTimeline
LIVNLIVANOVA PLCQuarterly 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: 322,382 shares 322,382$19.8M3.29%newTimeline
DNTHDIANTHUS 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: 116,997 shares; 2025Q2: 236,070 shares; 2025Q3: 577,750 shares; 2025Q4: 474,503 shares 474,503$19.6M3.24%-103,247Timeline
BHVNBIOHAVEN 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: not reported; 2025Q4: 1,244,764 shares 1,244,764$14.1M2.33%newTimeline
GPCRSTRUCTURE 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: 201,500 shares 201,500$14M2.32%newTimeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 141,134 shares; 2025Q2: 225,114 shares; 2025Q3: 225,114 shares; 2025Q4: 232,688 shares 232,688$13.8M2.29%+7,574Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,870 shares; 2024Q4: 240,870 shares; 2025Q1: 416,617 shares; 2025Q2: 810,274 shares; 2025Q3: 514,947 shares; 2025Q4: 526,002 shares 526,002$13.8M2.29%+11,055Timeline
BTSGBRIGHTSPRING HEALTH SVCS 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: 308,010 shares 308,010$11.5M1.91%newTimeline
CNCCENTENE CORP DELQuarterly 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: 262,500 shares; 2025Q3: 387,600 shares; 2025Q4: 274,350 shares 274,350$11.3M1.87%-113,250Timeline
CRLCHARLES RIV LABS INTL 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: 54,985 shares 54,985$11M1.82%newTimeline
TFXTELEFLEX INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,272 shares; 2024Q4: 66,772 shares; 2025Q1: 107,780 shares; 2025Q2: not reported; 2025Q3: 40,057 shares; 2025Q4: 86,876 shares 86,876$10.6M1.76%+46,819Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,370,000 shares; 2025Q1: 2,369,960 shares; 2025Q2: 1,839,022 shares; 2025Q3: 1,772,601 shares; 2025Q4: 1,874,641 shares 1,874,641$9.35M1.55%+102,040Timeline
TARAPROTARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,437,500 shares; 2025Q1: 1,514,300 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,715,394 shares 1,715,394$9.14M1.52%newTimeline
CCRNCROSS CTRY HEALTHCARE 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: 1,068,821 shares 1,068,821$8.66M1.44%newTimeline
HAEHAEMONETICS CORP MASSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 133,966 shares; 2025Q2: not reported; 2025Q3: 198,035 shares; 2025Q4: 92,631 shares 92,631$7.42M1.23%-105,404Timeline
ANIPANI PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 160,051 shares; 2025Q1: 87,298 shares; 2025Q2: 112,923 shares; 2025Q3: 55,723 shares; 2025Q4: 87,272 shares 87,272$6.89M1.14%+31,549Timeline
AQSTAQUESTIVE 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: 391,629 shares; 2025Q2: 947,489 shares; 2025Q3: 1,498,095 shares; 2025Q4: 993,095 shares 993,095$6.42M1.06%-505,000Timeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 451,793 shares; 2025Q1: 507,562 shares; 2025Q2: 512,338 shares; 2025Q3: 190,764 shares; 2025Q4: 81,883 shares 81,883$6.39M1.06%-108,881Timeline
EWTXEDGEWISE 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: 539,730 shares; 2025Q3: 307,181 shares; 2025Q4: 237,481 shares 237,481$5.89M0.98%-69,700Timeline
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: not reported; 2025Q4: 43,124 shares 43,124$5.82M0.96%newTimeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly 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: 174,841 shares; 2025Q4: 124,841 shares 124,841$5.81M0.96%-50,000Timeline
RAPPRAPPORT 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: 185,265 shares; 2025Q4: 185,265 shares 185,265$5.62M0.93%0Timeline
CORCENCORA 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: 15,900 shares 15,900$5.37M0.89%newTimeline
MCKMCKESSON CORPQuarterly 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: 6,400 shares 6,400$5.25M0.87%newTimeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,941 shares; 2024Q4: 73,511 shares; 2025Q1: 73,511 shares; 2025Q2: 284,787 shares; 2025Q3: 284,787 shares; 2025Q4: 57,586 shares 57,586$4.57M0.76%-227,201Timeline
PRQRPROQR THRAPEUTICS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,054,593 shares; 2025Q1: 2,054,593 shares; 2025Q2: 2,075,139 shares; 2025Q3: 2,075,139 shares; 2025Q4: 2,164,181 shares 2,164,181$4.37M0.72%+89,042Timeline
FULCFULCRUM 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: 382,000 shares 382,000$4.32M0.72%newTimeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,747 shares; 2025Q1: 719,654 shares; 2025Q2: 726,851 shares; 2025Q3: 726,851 shares; 2025Q4: 613,888 shares 613,888$3.7M0.61%-112,963Timeline
ORKAORUKA 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: 118,126 shares 118,126$3.58M0.59%newTimeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,971,948 shares; 2024Q4: 4,046,797 shares; 2025Q1: 2,582,655 shares; 2025Q2: 1,307,964 shares; 2025Q3: 829,178 shares; 2025Q4: 387,751 shares 387,751$3.5M0.58%-441,427Timeline
PMVPPMV PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,214,239 shares; 2024Q4: 3,572,167 shares; 2025Q1: 3,735,396 shares; 2025Q2: 3,735,396 shares; 2025Q3: 2,636,548 shares; 2025Q4: 2,636,548 shares 2,636,548$3.3M0.55%0Timeline
SISHOULDER INNOVATIONS 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: 350,000 shares; 2025Q4: 227,971 shares 227,971$3.26M0.54%-122,029Timeline
ALGSALIGOS 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: 180,720 shares; 2025Q2: 335,937 shares; 2025Q3: 335,937 shares; 2025Q4: 335,937 shares 335,937$3.13M0.52%0Timeline
VIRVIR BIOTECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,054,651 shares; 2025Q1: 473,607 shares; 2025Q2: 478,343 shares; 2025Q3: 478,343 shares; 2025Q4: 478,343 shares 478,343$2.88M0.48%0Timeline
ALKSALKERMES PLCQuarterly 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: 674,840 shares; 2025Q4: 95,353 shares 95,353$2.67M0.44%-579,487Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 123,000 shares; 2024Q4: 123,000 shares; 2025Q1: 123,000 shares; 2025Q2: 124,230 shares; 2025Q3: 124,230 shares; 2025Q4: 75,730 shares 75,730$2.62M0.43%-48,500Timeline
KYMRKYMERA 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: 32,235 shares 32,235$2.51M0.42%newTimeline
OVIDOVID THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,000,000 shares; 2025Q1: 2,232,000 shares; 2025Q2: 2,232,000 shares; 2025Q3: 1,427,495 shares; 2025Q4: 1,427,495 shares 1,427,495$2.33M0.39%0Timeline
CNTXCONTEXT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,328,352 shares; 2024Q4: 1,328,352 shares; 2025Q1: 1,328,352 shares; 2025Q2: 1,341,636 shares; 2025Q3: 1,341,636 shares; 2025Q4: 1,341,636 shares 1,341,636$1.97M0.33%0Timeline
HYPRHYPERFINE 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: 2,000,000 shares 2,000,000$1.96M0.32%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: 130,628 shares; 2025Q4: 130,628 shares 130,628$1.64M0.27%0Timeline
IBIOIBIO 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: 740,000 shares 740,000$1.43M0.24%newTimeline
XLOXilio Therapeutics Inc.Quarterly 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: 2,134,537 shares 2,134,537$1.37M0.23%newTimeline
ADGMADAGIO MED HLDGS 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: 1,288,461 shares 1,288,461$1.34M0.22%newTimeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,458 shares; 2024Q4: 71,458 shares; 2025Q1: 71,458 shares; 2025Q2: 72,173 shares; 2025Q3: 72,173 shares; 2025Q4: 72,173 shares 72,173$1.31M0.22%0Timeline
NMTCNEUROONE MED TECHNOLOGIES COQuarterly 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: 3,523,663 shares; 2025Q3: 2,360,635 shares; 2025Q4: 1,140,040 shares 1,140,040$864K0.14%-1,220,595Timeline
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 630,000 shares; 2025Q1: 630,000 shares; 2025Q2: 636,300 shares; 2025Q3: 636,300 shares; 2025Q4: 636,300 shares 636,300$751K0.12%0Timeline
FHTXFOGHORN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,672 shares; 2024Q4: 121,672 shares; 2025Q1: 121,672 shares; 2025Q2: 122,889 shares; 2025Q3: 122,889 shares; 2025Q4: 122,889 shares 122,889$664K0.11%0Timeline
SENSSENSEONICS HLDGS 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: 115,784 shares 115,784$639K0.11%newTimeline
ENTAENANTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 177,004 shares; 2024Q4: 177,004 shares; 2025Q1: 177,004 shares; 2025Q2: 178,774 shares; 2025Q3: not reported; 2025Q4: 40,000 shares 40,000$631K0.1%newTimeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,100 shares; 2025Q3: 10,100 shares; 2025Q4: 10,100 shares 10,100$408K0.07%0Timeline
MODDMODULAR MED INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,772 shares; 2024Q4: 251,990 shares; 2025Q1: 251,990 shares; 2025Q2: 785,824 shares; 2025Q3: 785,824 shares; 2025Q4: 785,824 shares 785,824$286K0.05%0Timeline
NYXHNYXOAH S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,839 shares; 2024Q4: 50,839 shares; 2025Q1: 50,839 shares; 2025Q2: 50,839 shares; 2025Q3: 50,839 shares; 2025Q4: 50,839 shares 50,839$234K0.04%0Timeline
BOLDBOUNDLESS BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,058 shares; 2024Q4: 162,058 shares; 2025Q1: 162,058 shares; 2025Q2: 163,679 shares; 2025Q3: 163,679 shares; 2025Q4: 163,679 shares 163,679$196K0.03%0Timeline
NXTCNEXTCURE 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: 10,940 shares; 2025Q4: 10,940 shares 10,940$155K0.03%0Timeline
RCKTWROCKET PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 400,000 shares; 2025Q1: 400,000 shares; 2025Q2: 400,000 shares; 2025Q3: 400,000 shares; 2025Q4: 400,000 shares 400,000$7.2K<0.01%0Timeline
HUMAWHUMACYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,998 shares; 2024Q4: 49,998 shares; 2025Q1: 49,998 shares; 2025Q2: 49,998 shares; 2025Q3: 49,998 shares; 2025Q4: 49,998 shares 49,998$4.88K<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
RYTMRHYTHM PHARMACEUTICALS INC COMput265,700$28.4Mnew
ELTXELICIO THERAPEUTICS INC LST Equity Optionput296,900$2.36Mnew
OTLKOUTLOOK THERAPEUTICS INC COMput1,125,400$1.78Mnew

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
MRKMERCK & CO INC177,300$14.9Mshares
HSICSCHEIN HENRY INC219,207$14.5Mshares
GSKGSK PLC268,873$11.6Mshares
KALVKALVISTA PHARMACEUTICALS INC683,819$8.33Mshares
NVCRNOVOCURE LTD413,829$5.35Mshares
SLPSIMULATIONS PLUS INC320,307$4.83Mshares
SEPNSEPTERNA INC189,199$3.56Mshares
ERASERASCA INC1,369,748$2.99Mshares
SENSEONICS HLDGS INCSENSEONICS HLDGS INC2,315,749$1.01Mshares
APREAPREA THERAPEUTICS INC112,223$166Kshares

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 0001214659-26-001854 base2026-02-17acceptance time not in the bulk data set