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Soleus Capital Management, L.P.

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13F filer, CIK 1802630, GREENWICH, CT

Soleus Capital Management, L.P. reported $1,510,110,641 across 95 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-15. Its ten largest share positions make up 47.24% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001802630-25-000008

Period
2025-06-30
Reported value
$1.51B
Holdings
95
Top 10 weight
47.24%
New
28
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KRYSadded+481,200$66.1M
ALNYnew+106,750$34.8M
URGNnew+2,185,000$29.9M
ELVnew+70,000$27.2M
UNHnew+86,250$26.9M

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
TGTXreduced-602,768-$21.7M
INSMreduced-201,500-$20.3M
HOLXexited-302,000-$18.7M
MERUS N Vreduced-345,821-$18.2M
MDGLreduced-59,500-$18M

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, Q2 2025

Share positions as resolved from 13F-HR 0001802630-25-000008, largest first. % of portfolio is the value over $1,447,913,141, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 216,979 shares; 2024Q4: 358,379 shares; 2025Q1: 441,758 shares; 2025Q2: 922,958 shares 922,958$127M8.76%+481,200Timeline
NVCRNOVOCURE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,739,704 shares; 2025Q1: 5,521,414 shares; 2025Q2: 6,904,302 shares 6,904,302$123M8.49%+1,382,888Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,534,540 shares; 2024Q4: 2,681,242 shares; 2025Q1: 2,846,703 shares; 2025Q2: 2,243,935 shares 2,243,935$80.8M5.58%-602,768Timeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,894 shares; 2024Q4: 109,394 shares; 2025Q1: 155,394 shares; 2025Q2: 209,794 shares 209,794$60.3M4.16%+54,400Timeline
BBNXBETA BIONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,395,341 shares; 2025Q2: 3,820,158 shares 3,820,158$55.6M3.84%+424,817Timeline
GRFSGRIFOLS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,521,703 shares; 2024Q4: 6,605,425 shares; 2025Q1: 7,089,822 shares; 2025Q2: 5,756,805 shares 5,756,805$52M3.59%-1,333,017Timeline
STAASTAAR SURGICAL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,562,893 shares; 2025Q2: 2,984,733 shares 2,984,733$50.1M3.46%+421,840Timeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,001,400 shares; 2025Q1: 1,079,304 shares; 2025Q2: 902,304 shares 902,304$49.6M3.43%-177,000Timeline
ORGOORGANOGENESIS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,839,876 shares; 2024Q4: 12,484,876 shares; 2025Q1: 12,478,351 shares; 2025Q2: 12,343,351 shares 12,343,351$45.2M3.12%-135,000Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 259,398 shares; 2024Q4: 243,540 shares; 2025Q1: 1,139,740 shares; 2025Q2: 966,740 shares 966,740$40.7M2.81%-173,000Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,245,387 shares; 2024Q4: 2,565,087 shares; 2025Q1: 2,574,122 shares; 2025Q2: 3,011,818 shares 3,011,818$40.2M2.78%+437,696Timeline
ALNYALNYLAM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,400 shares; 2024Q4: 76,800 shares; 2025Q1: not reported; 2025Q2: 106,750 shares 106,750$34.8M2.4%newTimeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,223,544 shares; 2024Q4: 8,142,500 shares; 2025Q1: 8,167,100 shares; 2025Q2: 8,167,100 shares 8,167,100$30.5M2.1%0Timeline
URGNUROGEN PHARMA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,185,000 shares 2,185,000$29.9M2.07%newTimeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,065,834 shares; 2024Q4: 2,102,833 shares; 2025Q1: 2,422,833 shares; 2025Q2: 2,422,833 shares 2,422,833$27.6M1.91%0Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,650 shares; 2024Q4: 550 shares; 2025Q1: not reported; 2025Q2: 70,000 shares 70,000$27.2M1.88%newTimeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 86,250 shares 86,250$26.9M1.86%newTimeline
NPCENEUROPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,433,168 shares; 2024Q4: 2,433,168 shares; 2025Q1: 2,608,168 shares; 2025Q2: 2,312,957 shares 2,312,957$25.8M1.78%-295,211Timeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 28,940 shares; 2025Q2: 42,876 shares 42,876$23.6M1.63%+13,936Timeline
Surmodics IncSurmodics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 637,698 shares; 2024Q4: 394,060 shares; 2025Q1: 789,060 shares; 2025Q2: 789,060 shares 789,060$23.4M1.62%0
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 2,400,000 shares; 2025Q2: 16,140,000 shares 16,140,000$22.8M1.57%+13,740,000Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 462,811 shares 462,811$22.5M1.56%newTimeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,037,680 shares; 2024Q4: 697,158 shares; 2025Q1: 1,079,158 shares; 2025Q2: 2,119,000 shares 2,119,000$19.5M1.35%+1,039,842Timeline
HUMHUMANA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 79,600 shares 79,600$19.5M1.34%newTimeline
VCYTVERACYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,303 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 715,439 shares 715,439$19.3M1.34%newTimeline
IARTINTEGRA LIFESCIENCES HLDGS CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,276,000 shares; 2025Q1: 1,072,204 shares; 2025Q2: 1,387,818 shares 1,387,818$17M1.18%+315,614Timeline
AXGNAXOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,005,943 shares; 2024Q4: 2,955,943 shares; 2025Q1: 1,446,117 shares; 2025Q2: 1,459,395 shares 1,459,395$15.8M1.09%+13,278Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 298,696 shares 298,696$15.2M1.05%newTimeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 144,000 shares; 2025Q1: 56,300 shares; 2025Q2: 85,000 shares 85,000$14.7M1.01%+28,700Timeline
INSPINSPIRE MED SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 39,000 shares; 2025Q2: 109,000 shares 109,000$14.1M0.98%+70,000Timeline
TWSTTWIST BIOSCIENCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 354,401 shares 354,401$13M0.9%newTimeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 598,169 shares; 2024Q4: 814,652 shares; 2025Q1: 814,652 shares; 2025Q2: 732,968 shares 732,968$12.9M0.89%-81,684Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,325,000 shares; 2025Q1: 6,325,000 shares; 2025Q2: 6,325,000 shares 6,325,000$12.3M0.85%0Timeline
RIGLRIGEL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 934,788 shares; 2024Q4: 1,130,679 shares; 2025Q1: 1,130,679 shares; 2025Q2: 658,145 shares 658,145$12.3M0.85%-472,534Timeline
FOCLEDAP TMS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,309,254 shares; 2024Q4: 7,309,254 shares; 2025Q1: 7,309,254 shares; 2025Q2: 7,309,254 shares 7,309,254$12.1M0.83%0Timeline
THERATECHNOLOGIES INCTHERATECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,801,376 shares; 2024Q4: 4,801,376 shares; 2025Q1: 4,801,376 shares; 2025Q2: 4,801,376 shares 4,801,376$11.3M0.78%0
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,090,984 shares; 2024Q4: 2,492,000 shares; 2025Q1: 816,610 shares; 2025Q2: 1,092,110 shares 1,092,110$10.2M0.71%+275,500Timeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,603,996 shares; 2024Q4: 6,978,942 shares; 2025Q1: 6,978,942 shares; 2025Q2: 6,978,942 shares 6,978,942$9.98M0.69%0Timeline
ENOVENOVIS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 315,000 shares 315,000$9.88M0.68%newTimeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 74,357 shares; 2024Q4: 104,357 shares; 2025Q1: 214,357 shares; 2025Q2: 125,000 shares 125,000$9.54M0.66%-89,357Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,400 shares; 2024Q4: 59,400 shares; 2025Q1: not reported; 2025Q2: 211,900 shares 211,900$9.05M0.63%newTimeline
JSPRJASPER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,343,665 shares; 2024Q4: 1,494,420 shares; 2025Q1: 1,494,420 shares; 2025Q2: 1,494,420 shares 1,494,420$8.29M0.57%0Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,031 shares; 2024Q4: 121,031 shares; 2025Q1: 153,031 shares; 2025Q2: 123,031 shares 123,031$8.1M0.56%-30,000Timeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 796,744 shares 796,744$7.96M0.55%newTimeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,272 shares; 2024Q4: 320,272 shares; 2025Q1: 274,272 shares; 2025Q2: 72,772 shares 72,772$7.32M0.51%-201,500Timeline
ANABANAPTYSBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 414,000 shares; 2025Q1: 102,052 shares; 2025Q2: 321,040 shares 321,040$7.13M0.49%+218,988Timeline
KNSAKINIKSA PHARMACEUTICALS INTLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,500 shares; 2024Q4: not reported; 2025Q1: 469,500 shares; 2025Q2: 254,689 shares 254,689$7.05M0.49%-214,811Timeline
SIONSIONNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 240,000 shares; 2025Q2: 376,000 shares 376,000$6.52M0.45%+136,000Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 400,000 shares 400,000$6.46M0.45%newTimeline
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,528,500 shares; 2024Q4: 6,560,000 shares; 2025Q1: 7,785,000 shares; 2025Q2: 3,261,707 shares 3,261,707$5.61M0.39%-4,523,293Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,049,314 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,000 shares 250,000$5.25M0.36%newTimeline
IMUXIMMUNIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,293,007 shares; 2024Q4: 7,293,007 shares; 2025Q1: 7,293,007 shares; 2025Q2: 7,293,007 shares 7,293,007$5.09M0.35%0Timeline
QDELQUIDELORTHO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 686,000 shares; 2024Q4: 547,082 shares; 2025Q1: not reported; 2025Q2: 174,000 shares 174,000$5.01M0.35%newTimeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 167,543 shares; 2025Q1: 285,000 shares; 2025Q2: 125,000 shares 125,000$4.43M0.31%-160,000Timeline
NSPRINSPIREMD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,378,128 shares; 2024Q4: 1,378,128 shares; 2025Q1: 945,376 shares; 2025Q2: 1,886,207 shares 1,886,207$4.28M0.3%+940,831Timeline
ETONETON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 285,000 shares 285,000$4.06M0.28%newTimeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 340,585 shares; 2024Q4: 328,585 shares; 2025Q1: 303,585 shares; 2025Q2: 155,000 shares 155,000$4.03M0.28%-148,585Timeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,827,963 shares; 2024Q4: 2,184,026 shares; 2025Q1: 935,909 shares; 2025Q2: 935,909 shares 935,909$3.88M0.27%0Timeline
ESSA PHARMA INCESSA PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,288,167 shares; 2024Q4: 2,262,026 shares; 2025Q1: 2,262,026 shares; 2025Q2: 2,262,026 shares 2,262,026$3.85M0.27%0
AKROAKERO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 117,000 shares; 2025Q2: 72,000 shares 72,000$3.84M0.27%-45,000Timeline
TRVITREVI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 700,000 shares 700,000$3.83M0.26%newTimeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 343,152 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 730,000 shares 730,000$3.74M0.26%newTimeline
TNDMTANDEM DIABETES CARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 496,039 shares; 2025Q2: 200,000 shares 200,000$3.73M0.26%-296,039Timeline
WGSGENEDX HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,000 shares; 2025Q1: not reported; 2025Q2: 40,000 shares 40,000$3.69M0.26%newTimeline
ANIPANI PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,000 shares; 2024Q4: 205,294 shares; 2025Q1: 224,684 shares; 2025Q2: 50,743 shares 50,743$3.31M0.23%-173,941Timeline
MURAL ONCOLOGY PUB LTD COMURAL ONCOLOGY PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,323,877 shares 1,323,877$3.27M0.23%new
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 175,000 shares 175,000$3.19M0.22%newTimeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,304,300 shares 1,304,300$2.96M0.2%newTimeline
OFIXORTHOFIX MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 606,933 shares; 2024Q4: 686,374 shares; 2025Q1: 601,925 shares; 2025Q2: 261,147 shares 261,147$2.91M0.2%-340,778Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,162,162 shares; 2024Q4: 2,162,162 shares; 2025Q1: 2,162,162 shares; 2025Q2: 2,162,162 shares 2,162,162$2.75M0.19%0Timeline
DNLIDENALI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 135,000 shares; 2025Q2: 182,110 shares 182,110$2.55M0.18%+47,110Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 78,800 shares 78,800$2.47M0.17%newTimeline
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,900 shares; 2025Q1: 67,500 shares; 2025Q2: 8,000 shares 8,000$2.42M0.17%-59,500Timeline
VCELVERICEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 80,696 shares; 2025Q1: not reported; 2025Q2: 50,953 shares 50,953$2.17M0.15%newTimeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 398,321 shares; 2024Q4: 312,321 shares; 2025Q1: 385,821 shares; 2025Q2: 40,000 shares 40,000$2.1M0.15%-345,821
SKINSKINHEALTH SYSTEMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000,000 shares 1,000,000$1.91M0.13%newTimeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 846,953 shares; 2024Q4: 786,953 shares; 2025Q1: 686,953 shares; 2025Q2: 599,711 shares 599,711$1.63M0.11%-87,242Timeline
Y-mAbs Therapeutics IncY-mAbs Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 399,982 shares; 2024Q4: 349,982 shares; 2025Q1: 349,982 shares; 2025Q2: 349,982 shares 349,982$1.58M0.11%0
TECXTECTONIC THERAPEUTIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,841 shares; 2025Q1: 76,841 shares; 2025Q2: 76,841 shares 76,841$1.53M0.11%0Timeline
MYOMYOMO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 900,000 shares; 2025Q1: 704,275 shares; 2025Q2: 704,275 shares 704,275$1.52M0.11%0Timeline
CALCCALCIMEDICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 783,904 shares; 2024Q4: 783,904 shares; 2025Q1: 783,904 shares; 2025Q2: 783,904 shares 783,904$1.25M0.09%0Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 183,300 shares; 2025Q1: 72,300 shares; 2025Q2: 76,493 shares 76,493$1M0.07%+4,193Timeline
KIDSORTHOPEDIATRICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 288,945 shares; 2024Q4: not reported; 2025Q1: 45,000 shares; 2025Q2: 45,000 shares 45,000$967K0.07%0Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,000 shares; 2024Q4: 125,000 shares; 2025Q1: 125,000 shares; 2025Q2: 125,000 shares 125,000$956K0.07%0Timeline
CBLLCERIBELL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares 50,000$936K0.06%newTimeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 150,000 shares; 2025Q2: 10,000 shares 10,000$838K0.06%-140,000Timeline
SEPNSEPTERNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 675,409 shares; 2025Q1: 751,353 shares; 2025Q2: 75,456 shares 75,456$798K0.06%-675,897Timeline
BCYCBICYCLE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,315 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,000 shares 100,000$695K0.05%newTimeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,246 shares; 2024Q4: 287,246 shares; 2025Q1: 287,246 shares; 2025Q2: 287,246 shares 287,246$618K0.04%0
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 704,584 shares; 2024Q4: 201,084 shares; 2025Q1: 84,784 shares; 2025Q2: 10,000 shares 10,000$368K0.03%-74,784Timeline
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 801,000 shares; 2025Q1: 232,722 shares; 2025Q2: 25,000 shares 25,000$340K0.02%-207,722Timeline
IOBTQIO BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 192,670 shares; 2024Q4: 192,670 shares; 2025Q1: 192,670 shares; 2025Q2: 192,670 shares 192,670$268K0.02%0Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 17,000 shares; 2025Q2: 2,000 shares 2,000$209K0.01%-15,000Timeline
ADPTADAPTIVE BIOTECHNOLOGIES CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,112,749 shares; 2024Q4: 2,983,142 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares 10,000$116K0.01%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
XBISPDR SERIES TRUST S&P BIOTECHput750,000$62.2Mnew

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
XBISPDR SERIES TRUST1,400,000$114Mcall
HOLXHOLOGIC INC302,000$18.7Mshares
SNYSANOFI SA226,218$12.5Mshares
PTGXPROTAGONIST THERAPEUTICS INC169,000$8.17Mshares
TEVATEVA PHARMACEUTICAL INDS LTD450,500$6.92Mshares
LIVNLIVANOVA PLC117,040$4.6Mshares
SRPTSAREPTA THERAPEUTICS INC58,000$3.7Mshares
APGEAPOGEE THERAPEUTICS INC16,000$598Kshares

How Q2 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 0001802630-25-000008 base2025-08-15acceptance time not in the bulk data set