Skip to content
Disclosery

Soleus Capital Management, L.P.

Follow

13F filer, CIK 1802630, GREENWICH, CT

Soleus Capital Management, L.P. reported $1,986,446,914 across 88 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 47.72% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001802630-25-000018

Period
2025-09-30
Reported value
$1.99B
Holdings
88
Top 10 weight
47.72%
New
18
Sold out
25

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ELVadded+189,650$61.3M
TGTXadded+1,600,796$57.8M
INSPadded+619,188$45.9M
TWSTadded+1,511,833$42.5M
FOLDnew+4,690,000$37M

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-1,832,958-$90.5M
STAAreduced-2,484,733-$66.8M
ALNYreduced-91,500-$41.7M
GRFSreduced-3,256,805-$32.4M
URGNreduced-1,506,000-$30M

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 0001802630-25-000018, largest first. % of portfolio is the value over $1,871,216,914, 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; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 216,979 shares; 2024Q4: 358,379 shares; 2025Q1: 441,758 shares; 2025Q2: 922,958 shares; 2025Q3: 1,018,831 shares 1,018,831$180M9.61%+95,873Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,844,731 shares 3,844,731$139M7.42%+1,600,796Timeline
NVCRNOVOCURE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,739,704 shares; 2025Q1: 5,521,414 shares; 2025Q2: 6,904,302 shares; 2025Q3: 9,644,872 shares 9,644,872$125M6.66%+2,740,570Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,650 shares; 2024Q4: 550 shares; 2025Q1: not reported; 2025Q2: 70,000 shares; 2025Q3: 259,650 shares 259,650$83.9M4.48%+189,650Timeline
BBNXBETA BIONICS 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: 3,395,341 shares; 2025Q2: 3,820,158 shares; 2025Q3: 3,870,158 shares 3,870,158$76.9M4.11%+50,000Timeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,894 shares; 2024Q4: 109,394 shares; 2025Q1: 155,394 shares; 2025Q2: 209,794 shares; 2025Q3: 150,000 shares 150,000$62.9M3.36%-59,794Timeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 8,127,100 shares 8,127,100$61M3.26%-40,000Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,178,860 shares 1,178,860$58.2M3.11%-1,832,958Timeline
INSPINSPIRE MED SYS 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: 39,000 shares; 2025Q2: 109,000 shares; 2025Q3: 728,188 shares 728,188$54M2.89%+619,188Timeline
TWSTTWIST BIOSCIENCE CORPQuarterly 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: 354,401 shares; 2025Q3: 1,866,234 shares 1,866,234$52.5M2.81%+1,511,833Timeline
ARGXARGENX SEQuarterly 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: 28,940 shares; 2025Q2: 42,876 shares; 2025Q3: 69,426 shares 69,426$51.2M2.74%+26,550Timeline
ORGOORGANOGENESIS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 12,131,699 shares 12,131,699$51.2M2.74%-211,652Timeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,001,400 shares; 2025Q1: 1,079,304 shares; 2025Q2: 902,304 shares; 2025Q3: 890,304 shares 890,304$48.2M2.58%-12,000Timeline
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: 462,811 shares; 2025Q3: 493,811 shares 493,811$47.3M2.53%+31,000Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 259,398 shares; 2024Q4: 243,540 shares; 2025Q1: 1,139,740 shares; 2025Q2: 966,740 shares; 2025Q3: 859,166 shares 859,166$45.5M2.43%-107,574Timeline
FOLDAMICUS THERAPEUTICQuarterly 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: 4,690,000 shares 4,690,000$37M1.98%newTimeline
INDIVIOR PLCINDIVIOR 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: 1,466,000 shares 1,466,000$35.3M1.89%new
MDGLMADRIGAL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,900 shares; 2025Q1: 67,500 shares; 2025Q2: 8,000 shares; 2025Q3: 68,336 shares 68,336$31.3M1.68%+60,336Timeline
ANIPANI PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,000 shares; 2024Q4: 205,294 shares; 2025Q1: 224,684 shares; 2025Q2: 50,743 shares; 2025Q3: 340,243 shares 340,243$31.2M1.67%+289,500Timeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,012,110 shares 2,012,110$31M1.65%+920,000Timeline
AXGNAXOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,726,553 shares 1,726,553$30.8M1.65%+267,158Timeline
NPCENEUROPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,957,957 shares 2,957,957$30.5M1.63%+645,000Timeline
GRFSGRIFOLS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,500,000 shares 2,500,000$24.9M1.33%-3,256,805Timeline
GERNGERON CORPQuarterly 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: 2,400,000 shares; 2025Q2: 16,140,000 shares; 2025Q3: 17,290,000 shares 17,290,000$23.7M1.27%+1,150,000Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,422,833 shares 2,422,833$22.4M1.2%0Timeline
IARTINTEGRA LIFESCIENCES HLDGS CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,276,000 shares; 2025Q1: 1,072,204 shares; 2025Q2: 1,387,818 shares; 2025Q3: 1,440,818 shares 1,440,818$20.6M1.1%+53,000Timeline
NBIXNEUROCRINE 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: 138,000 shares 138,000$19.4M1.04%newTimeline
ANABANAPTYSBIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 414,000 shares; 2025Q1: 102,052 shares; 2025Q2: 321,040 shares; 2025Q3: 626,040 shares 626,040$19.2M1.02%+305,000Timeline
FOCLEDAP TMS S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 7,309,254 shares 7,309,254$16.7M0.89%0Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 598,169 shares; 2024Q4: 814,652 shares; 2025Q1: 814,652 shares; 2025Q2: 732,968 shares; 2025Q3: 647,052 shares 647,052$16.1M0.86%-85,916Timeline
VCELVERICEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 80,696 shares; 2025Q1: not reported; 2025Q2: 50,953 shares; 2025Q3: 497,953 shares 497,953$15.7M0.84%+447,000Timeline
CCCCC4 THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 7,053,942 shares 7,053,942$15.7M0.84%+75,000Timeline
BLTEBELITE BIO 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: 210,000 shares 210,000$15.5M0.83%newTimeline
VCYTVERACYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,303 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 715,439 shares; 2025Q3: 422,055 shares 422,055$14.5M0.77%-293,384Timeline
RAPTRAPT 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: 537,903 shares 537,903$13.9M0.74%newTimeline
URGNUROGEN PHARMA LTDQuarterly 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: 2,185,000 shares; 2025Q3: 679,000 shares 679,000$13.5M0.72%-1,506,000Timeline
STAASTAAR SURGICAL COQuarterly 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: 2,562,893 shares; 2025Q2: 2,984,733 shares; 2025Q3: 500,000 shares 500,000$13.4M0.72%-2,484,733Timeline
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: 240,000 shares; 2025Q2: 376,000 shares; 2025Q3: 413,500 shares 413,500$12.2M0.65%+37,500Timeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 340,585 shares; 2024Q4: 328,585 shares; 2025Q1: 303,585 shares; 2025Q2: 155,000 shares; 2025Q3: 290,000 shares 290,000$11.7M0.62%+135,000Timeline
QUREUNIQURE NVQuarterly 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: 200,000 shares 200,000$11.7M0.62%newTimeline
QDELQUIDELORTHO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 686,000 shares; 2024Q4: 547,082 shares; 2025Q1: not reported; 2025Q2: 174,000 shares; 2025Q3: 375,000 shares 375,000$11M0.59%+201,000Timeline
MIRMMIRUM 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: not reported; 2025Q2: 298,696 shares; 2025Q3: 148,696 shares 148,696$10.9M0.58%-150,000Timeline
ADMAADMA BIOLOGICS 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: 175,000 shares; 2025Q3: 738,000 shares 738,000$10.8M0.58%+563,000Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,325,000 shares; 2025Q1: 6,325,000 shares; 2025Q2: 6,325,000 shares; 2025Q3: 6,325,000 shares 6,325,000$10.2M0.55%0Timeline
GMEDGLOBUS MED 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: 176,000 shares 176,000$10.1M0.54%newTimeline
GSKGSK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,500 shares; 2024Q4: 10,110 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 220,000 shares 220,000$9.5M0.51%newTimeline
RIGLRIGEL PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 934,788 shares; 2024Q4: 1,130,679 shares; 2025Q1: 1,130,679 shares; 2025Q2: 658,145 shares; 2025Q3: 330,010 shares 330,010$9.35M0.5%-328,135Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,450,000 shares 1,450,000$8.9M0.48%-669,000Timeline
VSTMVERASTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,827,963 shares; 2024Q4: 2,184,026 shares; 2025Q1: 935,909 shares; 2025Q2: 935,909 shares; 2025Q3: 935,909 shares 935,909$8.26M0.44%0Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,031 shares; 2024Q4: 121,031 shares; 2025Q1: 153,031 shares; 2025Q2: 123,031 shares; 2025Q3: 100,000 shares 100,000$8.21M0.44%-23,031Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 74,357 shares; 2024Q4: 104,357 shares; 2025Q1: 214,357 shares; 2025Q2: 125,000 shares; 2025Q3: 88,000 shares 88,000$7.61M0.41%-37,000Timeline
ALNYALNYLAM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,400 shares; 2024Q4: 76,800 shares; 2025Q1: not reported; 2025Q2: 106,750 shares; 2025Q3: 15,250 shares 15,250$6.95M0.37%-91,500Timeline
JBIOJADE 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: 796,744 shares; 2025Q3: 796,744 shares 796,744$6.88M0.37%0Timeline
LBRXLB 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: not reported; 2025Q2: not reported; 2025Q3: 400,000 shares 400,000$6.32M0.34%newTimeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 103,500 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 619,874 shares 619,874$6.07M0.32%newTimeline
KNSAKINIKSA PHARMACEUTICALS INTLQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 302,500 shares; 2024Q4: not reported; 2025Q1: 469,500 shares; 2025Q2: 254,689 shares; 2025Q3: 150,000 shares 150,000$5.82M0.31%-104,689Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,400 shares; 2024Q4: 59,400 shares; 2025Q1: not reported; 2025Q2: 211,900 shares; 2025Q3: 139,512 shares 139,512$5.72M0.31%-72,388Timeline
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: 275,000 shares 275,000$4.81M0.26%newTimeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,162,162 shares 2,162,162$4.71M0.25%0Timeline
ETONETON 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: not reported; 2025Q2: 285,000 shares; 2025Q3: 200,000 shares 200,000$4.35M0.23%-85,000Timeline
CBLLCERIBELL 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: 50,000 shares; 2025Q3: 360,000 shares 360,000$4.14M0.22%+310,000Timeline
HROWHARROW 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: 85,498 shares 85,498$4.12M0.22%newTimeline
GUTSFRACTYL 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: not reported; 2025Q3: 2,500,000 shares 2,500,000$3.98M0.21%newTimeline
JSPRJASPER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,494,420 shares 1,494,420$3.56M0.19%0Timeline
NSPRINSPIREMD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,470,934 shares 1,470,934$3.54M0.19%-415,273Timeline
AKROAKERO 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: 117,000 shares; 2025Q2: 72,000 shares; 2025Q3: 71,000 shares 71,000$3.37M0.18%-1,000Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,049,314 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,000 shares; 2025Q3: 100,000 shares 100,000$2.72M0.15%-150,000Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 343,152 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 730,000 shares; 2025Q3: 300,000 shares 300,000$2.52M0.13%-430,000Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly 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: 400,000 shares; 2025Q3: 200,000 shares 200,000$2.38M0.13%-200,000Timeline
RAPPRAPPORT 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: 80,000 shares 80,000$2.38M0.13%newTimeline
KIDSORTHOPEDIATRICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 288,945 shares; 2024Q4: not reported; 2025Q1: 45,000 shares; 2025Q2: 45,000 shares; 2025Q3: 128,000 shares 128,000$2.37M0.13%+83,000Timeline
IOVAIOVANCE BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 976,707 shares 976,707$2.12M0.11%-2,285,000Timeline
CALCCALCIMEDICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 783,904 shares; 2024Q4: 783,904 shares; 2025Q1: 783,904 shares; 2025Q2: 783,904 shares; 2025Q3: 683,904 shares 683,904$2.1M0.11%-100,000Timeline
VTGNVISTAGEN 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: 550,000 shares 550,000$1.95M0.1%newTimeline
MNKDMANNKIND CORPQuarterly 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$1.61M0.09%newTimeline
IMUXIMMUNIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,580,007 shares 1,580,007$1.39M0.07%-5,713,000Timeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,246 shares; 2024Q4: 287,246 shares; 2025Q1: 287,246 shares; 2025Q2: 287,246 shares; 2025Q3: 287,246 shares 287,246$1.3M0.07%0
LQDALIQUIDIA CORPORATIONQuarterly 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: 50,000 shares 50,000$1.14M0.06%newTimeline
ESSA PHARMA INCESSA PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,362,026 shares 4,362,026$833K0.04%+2,100,000
MYOMYOMO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 900,000 shares; 2025Q1: 704,275 shares; 2025Q2: 704,275 shares; 2025Q3: 704,275 shares 704,275$628K0.03%0Timeline
MREOMEREO BIOPHARMA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 846,953 shares; 2024Q4: 786,953 shares; 2025Q1: 686,953 shares; 2025Q2: 599,711 shares; 2025Q3: 299,711 shares 299,711$617K0.03%-300,000Timeline
TECXTECTONIC THERAPEUTIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,841 shares; 2025Q1: 76,841 shares; 2025Q2: 76,841 shares; 2025Q3: 25,000 shares 25,000$392K0.02%-51,841Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,272 shares; 2024Q4: 320,272 shares; 2025Q1: 274,272 shares; 2025Q2: 72,772 shares; 2025Q3: 2,550 shares 2,550$367K0.02%-70,222Timeline
SEPNSEPTERNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 675,409 shares; 2025Q1: 751,353 shares; 2025Q2: 75,456 shares; 2025Q3: 18,260 shares 18,260$343K0.02%-57,196Timeline
KODKODIAK 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: not reported; 2025Q3: 19,644 shares 19,644$322K0.02%newTimeline
TRVITREVI 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: 700,000 shares; 2025Q3: 25,000 shares 25,000$229K0.01%-675,000Timeline
DCTHDELCATH SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 801,000 shares; 2025Q1: 232,722 shares; 2025Q2: 25,000 shares; 2025Q3: 10,000 shares 10,000$108K0.01%-15,000Timeline

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 BIOTECHput1,150,000$115M+400,000

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
UNHUNITEDHEALTH GROUP INC86,250$26.9Mshares
Surmodics IncSurmodics Inc789,060$23.4Mshares
HUMHUMANA INC79,600$19.5Mshares
ASNDASCENDIS PHARMA A/S85,000$14.7Mshares
THERATECHNOLOGIES INCTHERATECHNOLOGIES INC4,801,376$11.3Mshares
ENOVENOVIS CORPORATION315,000$9.88Mshares
SRRKSCHOLAR ROCK HLDG CORP125,000$4.43Mshares
TNDMTANDEM DIABETES CARE INC200,000$3.73Mshares
WGSGENEDX HOLDINGS CORP40,000$3.69Mshares
MURAL ONCOLOGY PUB LTD COMURAL ONCOLOGY PUB LTD CO1,323,877$3.27Mshares
CTMXCYTOMX THERAPEUTICS INC.1,304,300$2.96Mshares
OFIXORTHOFIX MED INC261,147$2.91Mshares
DNLIDENALI THERAPEUTICS INC182,110$2.55Mshares
XENEXENON PHARMACEUTICALS INC78,800$2.47Mshares
MERUS N VMERUS N V40,000$2.1Mshares
SKINSKINHEALTH SYSTEMS INC1,000,000$1.91Mshares
Y-mAbs Therapeutics IncY-mAbs Therapeutics Inc349,982$1.58Mshares
EWTXEDGEWISE THERAPEUTICS INC76,493$1Mshares
ABVXABIVAX SA125,000$956Kshares
SLNOSOLENO THERAPEUTICS INC10,000$838Kshares
BCYCBICYCLE THERAPEUTICS PLC100,000$695Kshares
RVMDREVOLUTION MEDICINES INC10,000$368Kshares
IOBTQIO BIOTECH INC192,670$268Kshares
AXSMAXSOME THERAPEUTICS INC.2,000$209Kshares
ADPTADAPTIVE BIOTECHNOLOGIES COR10,000$116Kshares

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 0001802630-25-000018 base2025-11-14acceptance time not in the bulk data set