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Vestal Point Capital, LP

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13F filer, CIK 1974915, NEW YORK, NY

Vestal Point Capital, LP reported $2,214,439,953 across 81 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 38.53% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001974915-25-000008

Period
2025-09-30
Reported value
$2.21B
Holdings
81
Top 10 weight
38.53%
New
24
Sold out
15

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABVXnew+1,000,000$84.9M
ASNDadded+400,000$79.5M
BDXadded+300,000$56.2M
RGENnew+400,000$53.5M
DXCMnew+650,000$43.7M

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
QUREreduced-3,475,000-$203M
CYTKreduced-2,250,000-$124M
ACLXreduced-1,500,000-$123M
JAZZreduced-700,000-$92.3M
DNTHreduced-2,020,000-$79.5M

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, Q3 2025

Share positions as resolved from 13F-HR 0001974915-25-000008, largest first. % of portfolio is the value over $2,203,907,436, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 520,000 shares; 2025Q1: 150,142 shares; 2025Q2: 200,000 shares; 2025Q3: 600,000 shares 600,000$119M5.41%+400,000Timeline
ACLXARCELLX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 675,000 shares; 2024Q4: 475,000 shares; 2025Q1: 2,387,720 shares; 2025Q2: 2,750,000 shares; 2025Q3: 1,250,000 shares 1,250,000$103M4.66%-1,500,000Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 600,000 shares; 2025Q1: 1,075,000 shares; 2025Q2: 1,075,000 shares; 2025Q3: 1,100,000 shares 1,100,000$95.1M4.32%+25,000Timeline
ABVXABIVAX SAQuarterly 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: 1,000,000 shares 1,000,000$84.9M3.85%newTimeline
ALCALCON AGQuarterly 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: 525,000 shares; 2025Q3: 1,100,000 shares 1,100,000$82M3.72%+575,000Timeline
BCAXBICARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 425,000 shares; 2024Q4: 710,000 shares; 2025Q1: 2,768,975 shares; 2025Q2: 5,000,000 shares; 2025Q3: 5,100,000 shares 5,100,000$80.5M3.65%+100,000Timeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,350,000 shares; 2025Q1: 4,275,000 shares; 2025Q2: 11,900,000 shares; 2025Q3: 9,750,000 shares 9,750,000$76.8M3.49%-2,150,000Timeline
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: 325,000 shares; 2025Q1: 200,000 shares; 2025Q2: 500,000 shares; 2025Q3: 1,250,000 shares 1,250,000$71.6M3.25%+750,000Timeline
IONSIONIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 595,000 shares; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 1,075,000 shares 1,075,000$70.3M3.19%+575,000Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 900,000 shares; 2024Q4: 975,000 shares; 2025Q1: not reported; 2025Q2: 1,200,000 shares; 2025Q3: 500,000 shares 500,000$65.9M2.99%-700,000Timeline
BDXBECTON DICKINSON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 25,000 shares; 2025Q3: 325,000 shares 325,000$60.8M2.76%+300,000Timeline
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: not reported; 2025Q1: 1,300,000 shares; 2025Q2: 1,500,000 shares; 2025Q3: 1,500,000 shares 1,500,000$55.9M2.53%0Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,750,000 shares; 2024Q4: 6,275,000 shares; 2025Q1: 7,192,700 shares; 2025Q2: 6,250,000 shares; 2025Q3: 6,350,000 shares 6,350,000$54.1M2.45%+100,000Timeline
RGENREPLIGEN 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: 400,000 shares 400,000$53.5M2.43%newTimeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 395,000 shares; 2024Q4: 1,075,000 shares; 2025Q1: 1,700,069 shares; 2025Q2: 3,200,000 shares; 2025Q3: 1,180,000 shares 1,180,000$46.4M2.11%-2,020,000Timeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 860,000 shares; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 830,000 shares 830,000$45M2.04%+330,000Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 825,000 shares; 2024Q4: 810,000 shares; 2025Q1: 1,300,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 1,100,000 shares 1,100,000$44.2M2%-900,000Timeline
DXCMDEXCOM 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: 650,000 shares 650,000$43.7M1.98%newTimeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,500,000 shares; 2024Q4: 2,350,000 shares; 2025Q1: 2,590,531 shares; 2025Q2: 2,975,000 shares; 2025Q3: 725,000 shares 725,000$39.8M1.81%-2,250,000Timeline
BIIBBIOGEN 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$38.5M1.75%newTimeline
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: 504,542 shares; 2025Q2: 500,000 shares; 2025Q3: 400,000 shares 400,000$38.3M1.74%-100,000Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,180,000 shares; 2025Q1: 4,180,000 shares; 2025Q2: 4,522,000 shares; 2025Q3: 4,956,000 shares 4,956,000$36.1M1.64%+434,000
DYNDYNE 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: 1,800,000 shares; 2025Q2: 727,500 shares; 2025Q3: 2,775,000 shares 2,775,000$35.1M1.59%+2,047,500Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 990,000 shares; 2025Q1: 2,879,829 shares; 2025Q2: 2,655,000 shares; 2025Q3: 2,425,000 shares 2,425,000$33.9M1.54%-230,000Timeline
ABTABBOTT LABORATORIESQuarterly 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: 250,000 shares 250,000$33.5M1.52%+75,000Timeline
IRONDISC MEDICINE 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: 140,000 shares; 2025Q3: 500,000 shares 500,000$33M1.5%+360,000Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 425,000 shares; 2024Q4: 485,000 shares; 2025Q1: 1,125,552 shares; 2025Q2: 2,000,000 shares; 2025Q3: 3,475,000 shares 3,475,000$32.1M1.46%+1,475,000Timeline
CRNXCRINETICS PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 205,000 shares; 2024Q4: not reported; 2025Q1: 1,500,000 shares; 2025Q2: 1,500,000 shares; 2025Q3: 750,000 shares 750,000$31.2M1.42%-750,000Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 305,000 shares; 2025Q1: 198,646 shares; 2025Q2: 1,750,000 shares; 2025Q3: 1,205,000 shares 1,205,000$31.2M1.41%-545,000Timeline
ZYMEZYMEWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 615,000 shares; 2024Q4: 185,000 shares; 2025Q1: 500,000 shares; 2025Q2: 1,150,000 shares; 2025Q3: 1,765,000 shares 1,765,000$30.1M1.37%+615,000Timeline
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: 125,000 shares; 2025Q2: 50,000 shares; 2025Q3: 150,000 shares 150,000$29.7M1.35%+100,000Timeline
RVMDREVOLUTION MEDICINES 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: 1,200,000 shares; 2025Q3: 630,000 shares 630,000$29.4M1.33%-570,000Timeline
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: 950,000 shares 950,000$28.2M1.28%newTimeline
ELVNENLIVEN 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: 250,000 shares; 2025Q3: 1,160,000 shares 1,160,000$23.7M1.08%+910,000Timeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,050,000 shares; 2024Q4: 11,000,000 shares; 2025Q1: 22,005,340 shares; 2025Q2: 23,775,000 shares; 2025Q3: 17,225,000 shares 17,225,000$23.6M1.07%-6,550,000Timeline
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: 312,500 shares 312,500$23.1M1.05%newTimeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 750,000 shares; 2024Q4: 1,500,000 shares; 2025Q1: 500,000 shares; 2025Q2: not reported; 2025Q3: 750,000 shares 750,000$22.6M1.02%newTimeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,075,000 shares; 2025Q1: 2,500,000 shares; 2025Q2: 3,100,000 shares; 2025Q3: 760,000 shares 760,000$22.1M1%-2,340,000Timeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 850,000 shares; 2024Q4: 1,200,000 shares; 2025Q1: 1,136,249 shares; 2025Q2: 3,228,161 shares; 2025Q3: 3,250,000 shares 3,250,000$21.6M0.98%+21,839Timeline
BDTXBLACK DIAMOND THERAPEUTICS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,028,500 shares; 2024Q4: 5,600,000 shares; 2025Q1: 5,600,000 shares; 2025Q2: 5,600,000 shares; 2025Q3: 5,550,000 shares 5,550,000$21M0.95%-50,000Timeline
DAWNDAY ONE BIOPHARMACEUTICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,500,000 shares; 2024Q4: 1,440,000 shares; 2025Q1: 2,598,127 shares; 2025Q2: 3,000,000 shares; 2025Q3: 2,675,000 shares 2,675,000$18.9M0.86%-325,000Timeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,800,000 shares; 2024Q4: 2,850,000 shares; 2025Q1: 1,753,558 shares; 2025Q2: 1,505,000 shares; 2025Q3: 2,975,000 shares 2,975,000$18.4M0.83%+1,470,000Timeline
AXSMAXSOME THERAPEUTICS 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: not reported; 2025Q3: 150,000 shares 150,000$18.2M0.83%newTimeline
TSHATAYSHA GENE THERAPIES 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: 3,000,000 shares; 2025Q3: 5,500,000 shares 5,500,000$18M0.82%+2,500,000Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 136,500 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 425,000 shares 425,000$16.9M0.77%newTimeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,090,000 shares; 2024Q4: 10,775,000 shares; 2025Q1: 11,000,000 shares; 2025Q2: 11,015,000 shares; 2025Q3: 4,015,000 shares 4,015,000$14.3M0.65%-7,000,000Timeline
BRKRBRUKER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,000 shares; 2024Q4: not reported; 2025Q1: 300,000 shares; 2025Q2: 500,000 shares; 2025Q3: 440,000 shares 440,000$14.3M0.65%-60,000Timeline
REGNREGENERON PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 20,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares 25,000$14.1M0.64%newTimeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,750,000 shares; 2024Q4: 3,025,000 shares; 2025Q1: 4,792,572 shares; 2025Q2: 3,700,000 shares; 2025Q3: 225,000 shares 225,000$13.1M0.6%-3,475,000Timeline
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: not reported; 2025Q2: 550,000 shares; 2025Q3: 600,000 shares 600,000$11.9M0.54%+50,000Timeline
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: not reported; 2025Q2: not reported; 2025Q3: 135,000 shares 135,000$10M0.45%newTimeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,000,000 shares; 2024Q4: 4,770,000 shares; 2025Q1: 4,751,292 shares; 2025Q2: 4,675,000 shares; 2025Q3: 750,000 shares 750,000$9.13M0.41%-3,925,000Timeline
LNTHLANTHEUS HLDGS 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: 170,000 shares 170,000$8.72M0.4%+120,000Timeline
Applied Therapeutics IncApplied Therapeutics IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,145,000 shares; 2024Q4: 11,500,000 shares; 2025Q1: 11,500,000 shares; 2025Q2: 11,500,000 shares; 2025Q3: 14,250,000 shares 14,250,000$8.62M0.39%+2,750,000
CGONCG ONCOLOGY 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: 175,000 shares 175,000$7.05M0.32%newTimeline
VYGRVOYAGER THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 490,000 shares; 2024Q4: 1,230,000 shares; 2025Q1: 1,249,418 shares; 2025Q2: 1,475,000 shares; 2025Q3: 1,475,000 shares 1,475,000$6.89M0.31%0Timeline
TVRDTVARDI 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: 167,000 shares 167,000$6.51M0.3%newTimeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,725,000 shares; 2024Q4: 2,000,000 shares; 2025Q1: 2,000,000 shares; 2025Q2: 2,000,000 shares; 2025Q3: 2,050,000 shares 2,050,000$6.38M0.29%+50,000Timeline
GLUEMONTE ROSA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 930,000 shares; 2024Q4: 425,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 800,000 shares 800,000$5.93M0.27%newTimeline
GSKGSK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 125,000 shares 125,000$5.39M0.24%newTimeline
NVCRNOVOCURE 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: not reported; 2025Q3: 400,000 shares 400,000$5.17M0.23%newTimeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 760,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 127,000 shares 127,000$5.1M0.23%newTimeline
NYXHNYXOAH S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,924,216 shares; 2025Q1: 2,318,954 shares; 2025Q2: 1,402,002 shares; 2025Q3: 1,107,413 shares 1,107,413$5.09M0.23%-294,589Timeline
MYGNMYRIAD GENETICS 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: 600,000 shares 600,000$4.34M0.2%newTimeline
EXASEXACT SCIENCES 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: 700,000 shares; 2025Q3: 75,000 shares 75,000$4.1M0.19%-625,000Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,000 shares; 2024Q4: 300,000 shares; 2025Q1: 433,193 shares; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$4.1M0.19%newTimeline
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: 250,000 shares 250,000$4.09M0.19%newTimeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 915,000 shares; 2025Q1: 915,000 shares; 2025Q2: 950,000 shares; 2025Q3: 950,000 shares 950,000$3.82M0.17%0Timeline
ARQTARCUTIS BIOTHERAPEUTICS 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: 95,000 shares; 2025Q3: 200,000 shares 200,000$3.77M0.17%+105,000Timeline
RCUSARCUS 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: 250,000 shares 250,000$3.4M0.15%newTimeline
FATEFATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,685,000 shares; 2024Q4: 2,465,000 shares; 2025Q1: 2,515,850 shares; 2025Q2: 2,515,000 shares; 2025Q3: 2,515,000 shares 2,515,000$3.17M0.14%0Timeline
ALECALECTOR 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: 504,540 shares; 2025Q2: 976,992 shares; 2025Q3: 980,000 shares 980,000$2.9M0.13%+3,008Timeline
ENGNENGENE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 370,000 shares; 2025Q1: 370,000 shares; 2025Q2: 370,000 shares; 2025Q3: 370,000 shares 370,000$2.53M0.11%0Timeline
PASGPASSAGE 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: 305,000 shares 305,000$2.45M0.11%newTimeline
SUTRO BIOPHARMA INCSUTRO BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,570,000 shares; 2025Q1: 2,600,000 shares; 2025Q2: 2,600,000 shares; 2025Q3: 2,600,000 shares 2,600,000$2.26M0.1%0
OKURONKURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 635,000 shares; 2025Q1: 635,000 shares; 2025Q2: 635,000 shares; 2025Q3: 635,000 shares 635,000$1.75M0.08%0Timeline
LUNGPULMONX 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: 830,000 shares 830,000$1.34M0.06%newTimeline
MGNXMACROGENICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 830,000 shares; 2024Q4: 280,000 shares; 2025Q1: 280,000 shares; 2025Q2: 280,000 shares; 2025Q3: 280,000 shares 280,000$470K0.02%0Timeline
TENXTENAX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 83,333 shares; 2024Q4: 55,189 shares; 2025Q1: 53,439 shares; 2025Q2: 53,439 shares; 2025Q3: 53,439 shares 53,439$407K0.02%0Timeline
TRAWTRAWS PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 75,000 shares; 2025Q1: 175,000 shares; 2025Q2: 149,800 shares; 2025Q3: 150,000 shares 150,000$278K0.01%+200Timeline

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
BHVNBIOHAVEN LTD COMput701,700$10.5Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
GEHCGE HEALTHCARE TECHNOLOGIES I700,000$51.8Mshares
MLTXMOONLAKE IMMUNOTHERAPEUTICS550,000$26Mshares
COOCOOPER COS INC350,000$24.9Mshares
GPCRSTRUCTURE THERAPEUTICS INC1,200,000$24.9Mshares
EWEDWARDS LIFESCIENCES CORP300,000$23.5Mshares
COGTCOGENT BIOSCIENCES INC3,080,000$22.1Mshares
MDTMEDTRONIC PLC195,000$17Mshares
PRGOPERRIGO CO PLC625,000$16.7Mshares
TMOTHERMO FISHER SCIENTIFIC INC25,000$10.1Mshares
TVTXTRAVERE THERAPEUTICS INC355,000$5.25Mshares
ZBHZIMMER BIOMET HOLDINGS INC50,000$4.56Mshares
NBIXNEUROCRINE BIOSCIENCES INC30,000$3.77Mshares
PASSAGE BIO INCPASSAGE BIO INC6,100,000$2.44Mshares
VRDNVIRIDIAN THERAPEUTICS INC100,000$1.4Mshares
ATRAATARA BIOTHERAPEUTICS INC94,085$726Kshares

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 0001974915-25-000008 base2025-11-14acceptance time not in the bulk data set