Affinity Asset Advisors, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Affinity Asset Advisors, LLC reported 75 stock positions worth $603.1 million. Its top holding was Xenon Pharmaceuticals (XENE) at 7.4% of the portfolio, followed by Apogee Therapeutics (APGE, 7.1%) and Verona Pharma (VRNA, 6.5%). Compared with Q4 2024, it opened 20 new positions, sold out of 13, added to 26 and reduced 17. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale Crinetics Pharmaceuticals (CRNX, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001773195
- Portfolio Value
- $603.1M (Q1 2025)
- SEC Filing
- 0001999371-25-006074 ↗ filed May 14, 2025
Holdings Value
Holdings 75 stocks · $603.1M
| XENE Xenon Pharmaceuticals Inc. | 7.39% | 1,328,175 | $44.6M | Add +14.4% |
| APGE Apogee Therapeutics Inc. | 7.13% | 1,151,199 | $43.0M | Add +23.6% |
| VRNA Verona Pharma Ltd. | 6.47% | 615,000 | $39.0M | Reduce -6.8% |
| ACLX Arcellx Inc. | 5.76% | 530,000 | $34.8M | Add +24.7% |
| ALKS Alkermes PLC | 5.47% | 1,000,000 | $33.0M | Reduce -9.1% |
| NUVL Nuvalent Inc. Class A | 5.41% | 460,000 | $32.6M | Add +61.4% |
| MDGL Madrigal Pharmaceuticals Inc. | 4.39% | 80,000 | $26.5M | Reduce -3.0% |
| CNTA Centessa Pharmaceuticals Ltd. | 3.69% | 1,546,662 | $22.2M | Add +41.1% |
| TEVA Teva Pharmaceutical-SP ADR | 3.57% | 1,400,000 | $21.5M | No change |
| PTGX Protagonist Therapeutics Inc. | 3.21% | 400,000 | $19.3M | Add +207.7% |
| TVTX Travere Therapeutics Inc. | 3.18% | 1,070,000 | $19.2M | Add +435.0% |
| MLYS Mineralys Therapeutics Inc. | 2.90% | 1,100,000 | $17.5M | Add +214.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.78% | 30,000 | $16.8M | New |
| WVE Wave Life Sciences Ltd. | 2.44% | 1,825,000 | $14.7M | Add +21.7% |
| MRUS Merus NV | 2.25% | 321,962 | $13.6M | Reduce -17.3% |
| AXSM Axsome Therapeutics Inc. | 1.93% | 100,000 | $11.7M | Add +33.3% |
| ESTA Establishment Labs Holdings | 1.89% | 280,000 | $11.4M | Add +0.2% |
| INSM Insmed Inc. | 1.77% | 140,000 | $10.7M | Add +180.0% |
| BBIO Bridgebio Pharma Inc. | 1.72% | 300,000 | $10.4M | Add +50.0% |
| NRIX Nurix Therapeutics Inc. | 1.60% | 810,669 | $9.6M | Reduce -13.8% |
| VERA Vera Therapeutics Inc. | 1.41% | 355,143 | $8.5M | Reduce -16.4% |
| TRVI Trevi Therapeutics Inc. | 1.30% | 1,250,000 | $7.9M | New |
| SYRE Spyre Therapeutics Inc. | 1.29% | 481,678 | $7.8M | Reduce -41.6% |
| IMVT Immunovant Inc. | 1.22% | 430,000 | $7.3M | Add +330.0% |
| NAMS Newamsterdam Pharma Co. NV | 1.10% | 325,000 | $6.7M | Reduce -23.5% |
| ORKA Oruka Therapeutics Inc. | 0.93% | 545,362 | $5.6M | Add +47.9% |
| NBIX Neurocrine Biosciences Inc. | 0.92% | 50,000 | $5.5M | New |
| AVTX Avalo Therapeutics Inc. | 0.87% | 657,154 | $5.3M | Add +19.3% |
| VRDN Viridian Therapeutics Inc. | 0.87% | 390,000 | $5.3M | Add +144.3% |
| LXEO Lexeo Therapeutics Inc. | 0.85% | 1,480,881 | $5.1M | New |
| CRNX Crinetics Pharmaceuticals Inc. | 0.85% | 152,252 | $5.1M | Reduce -66.9% |
| RZLT Rezolute Inc. | 0.82% | 1,700,000 | $4.9M | Add +7.9% |
| CATX Perspective Therapeutics Inc. | 0.79% | 2,224,196 | $4.7M | Add +71.1% |
| AUTL Autolus Therapeutics PLC | 0.78% | 3,045,000 | $4.7M | Reduce -32.3% |
| ERAS Erasca Inc. | 0.76% | 3,341,519 | $4.6M | Add +33.7% |
| PRQR Proqr Therapeutics NV | 0.72% | 3,284,512 | $4.4M | Add +16.3% |
| QURE Uniqure NV | 0.70% | 400,000 | $4.2M | New |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.60% | 350,000 | $3.6M | No change |
| SLNO Soleno Therapeutics Inc. | 0.59% | 50,000 | $3.6M | Reduce -61.5% |
| INZY Inozyme Pharma Inc. | 0.58% | 3,867,710 | $3.5M | Reduce -2.6% |
| AKBA Akebia Therapeutics Inc. | 0.48% | 1,500,000 | $2.9M | New |
| MAZE Maze Therapeutics Inc. | 0.46% | 250,000 | $2.8M | New |
| KYMR Kymera Therapeutics Inc. | 0.45% | 100,000 | $2.7M | Add +150.0% |
| OACCU Oaktree Acquisition III Life | 0.43% | 250,000 | $2.6M | No change |
| GERN Geron Corp. | 0.40% | 1,500,000 | $2.4M | Reduce -33.3% |
| MNPR Monopar Therapeutics Inc. | 0.37% | 62,000 | $2.3M | New |
| MIRM Mirum Pharmaceuticals Inc. | 0.37% | 49,692 | $2.2M | Reduce -29.8% |
| AEROVATE THERAPEUTICS INC | 0.33% | 800,000 | $2.0M | No change |
| CGEM Cullinan Therapeutics Inc. | 0.33% | 263,817 | $2.0M | No change |
| CLYM Climb Bio Inc. | 0.30% | 1,500,000 | $1.8M | Add +200.0% |
| OKUR Onkure Therapeutics Inc. Class A | 0.28% | 394,159 | $1.7M | Add +173.4% |
| ROIV Roivant Sciences Ltd. | 0.25% | 150,000 | $1.5M | New |
| NKTX Nkarta Inc. | 0.24% | 800,000 | $1.5M | No change |
| AVR Anteris Technologies Global | 0.24% | 390,000 | $1.4M | Add +30.0% |
| MBX MBX Biosciences Inc. | 0.21% | 175,000 | $1.3M | New |
| THRD Third Harmonic Bio Inc. | 0.21% | 370,000 | $1.3M | New |
| ETNB 89BIO Inc. | 0.21% | 175,000 | $1.3M | New |
| ABVX Abivax SA-ADR | 0.21% | 200,000 | $1.3M | New |
| OLMA Olema Pharmaceuticals Inc. | 0.20% | 325,000 | $1.2M | New |
| NXTC Nextcure Inc. | 0.18% | 2,302,598 | $1.1M | No change |
| MGTX Meiragtx Holdings PLC | 0.17% | 150,000 | $1.0M | New |
| PCVX Vaxcyte Inc. | 0.16% | 25,000 | $944K | No change |
| VKTX Viking Therapeutics Inc. | 0.10% | 25,000 | $604K | New |
| STRO Sutro Biopharma Inc. Com SHS | 0.08% | 752,722 | $490K | New |
| CNTX Context Therapeutics Inc. | 0.07% | 660,589 | $404K | Reduce -34.9% |
| BDTX Black Diamond Therapeutics I | 0.06% | 250,000 | $388K | Reduce -55.3% |
| RADX Radiopharm Theranostics Ltd. | 0.05% | 64,600 | $311K | Reduce -58.6% |
| ZURA Zura Bio Ltd. | 0.05% | 223,335 | $288K | No change |
| CMPX Compass Therapeutics Inc. | 0.04% | 130,807 | $249K | New |
| OVID Ovid Therapeutics Inc. | 0.03% | 667,516 | $208K | New |
| RPTX Repare Therapeutics Inc. | 0.03% | 200,000 | $197K | Add +100.0% |
| ADGM Adagio Medical Holdings Inc. | 0.03% | 213,235 | $170K | No change |
| OMER Omeros Corp. | 0.01% | 9,958 | $82K | No change |
| ALLK Allakos LLC | 0.01% | 250,000 | $57K | New |
| QTTB Q32 Bio Inc. | 0.01% | 27,777 | $46K | No change |
Options reported separately and not counted above: SPY puts ($223.8M), IWM puts ($59.8M), XBI puts ($40.5M), AMGN calls ($21.8M), ALNY calls ($14.9M), PTGX calls ($8.3M), CORT calls ($8.0M), VERA calls ($6.4M), EXEL calls ($5.0M), EWTX puts ($4.4M), MLYS puts ($3.2M), IBRX puts ($3.1M), and 5 more.
Other holdings (6): bonds, preferreds, convertibles and warrants · $35.6M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OMEROS CORP (OMER 5.25 02/15/26) | NOTE 5.250% 2/1 · principal | 15,525,000 | $14.3M | No change |
| KARYOPHARM THERAPEUTICS (KPTI 3 10/15/25) | NOTE 3.000%10/1 · principal | 15,250,000 | $11.6M | No change |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | 7,000,000 | $7.0M | Add +16.7% |
| NAMSW Newamsterdam Pharma Co. NV-27 | *W EXP 99/99/999 | 241,957 | $2.7M | Add +1.7% |
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 75,000 | $4K | No change |
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | 187,204 | $3K | No change |
Total filed on the 13F, all lines: $638.8M.
Portfolio Sells Q4 2024 → Q1 2025
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -66.9% | 0.85% | −3.15 |
| ARVN Arvinas Inc. | Sold out | 0.00% | −2.05 |
| SYRE Spyre Therapeutics Inc. | Reduce -41.6% | 1.29% | −1.97 |
| VERA Vera Therapeutics Inc. | Reduce -16.4% | 1.41% | −1.64 |
| NRIX Nurix Therapeutics Inc. | Reduce -13.8% | 1.60% | −1.41 |
| INZY Inozyme Pharma Inc. | Reduce -2.6% | 0.58% | −1.29 |
| AUTL Autolus Therapeutics PLC | Reduce -32.3% | 0.78% | −1.01 |
| ARWR Arrowhead Pharmaceuticals Inc. | Sold out | 0.00% | −0.96 |
| GERN Geron Corp. | Reduce -33.3% | 0.40% | −0.96 |
| NAMS Newamsterdam Pharma Co. NV | Reduce -23.5% | 1.10% | −0.75 |
| CMPS Compass Pathways PLC | Sold out | 0.00% | −0.55 |
| MRUS Merus NV | Reduce -17.3% | 2.25% | −0.54 |
| CGON CG Oncology Inc. | Sold out | 0.00% | −0.49 |
| TECX Tectonic Therapeutic Inc. | Sold out | 0.00% | −0.46 |
| BBOT Bridgebio Oncology Therapeut | Sold out | 0.00% | −0.45 |
| SLNO Soleno Therapeutics Inc. | Reduce -61.5% | 0.59% | −0.40 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.27 |
| RAPT THERAPEUTICS INC | Sold out | 0.00% | −0.27 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.22 |
| SVRA Savara Inc. | Sold out | 0.00% | −0.21 |
| KZR Kezar Life Sciences Inc. | Sold out | 0.00% | −0.16 |
| BDTX Black Diamond Therapeutics I | Reduce -55.3% | 0.06% | −0.14 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -29.8% | 0.37% | −0.13 |
| CNTX Context Therapeutics Inc. | Reduce -34.9% | 0.07% | −0.11 |
| RADX Radiopharm Theranostics Ltd. | Reduce -58.6% | 0.05% | −0.06 |
| CLDX Celldex Therapeutics Inc. | Sold out | 0.00% | −0.04 |
| SYRS Syros Pharmaceuticals Inc. | Sold out | 0.00% | −0.01 |
| MDGL Madrigal Pharmaceuticals Inc. | Reduce -3.0% | 4.39% | +0.07 |
| ALKS Alkermes PLC | Reduce -9.1% | 5.47% | +0.10 |
| VRNA Verona Pharma Ltd. | Reduce -6.8% | 6.47% | +1.26 |
Portfolio Buys Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | New | 2.78% | +2.78 |
| TVTX Travere Therapeutics Inc. | Add +435.0% | 3.18% | +2.59 |
| PTGX Protagonist Therapeutics Inc. | Add +207.7% | 3.21% | +2.35 |
| MLYS Mineralys Therapeutics Inc. | Add +214.3% | 2.90% | +2.16 |
| NUVL Nuvalent Inc. Class A | Add +61.4% | 5.41% | +1.62 |
| TRVI Trevi Therapeutics Inc. | New | 1.30% | +1.30 |
| INSM Insmed Inc. | Add +180.0% | 1.77% | +1.18 |
| NBIX Neurocrine Biosciences Inc. | New | 0.92% | +0.92 |
| AXSM Axsome Therapeutics Inc. | Add +33.3% | 1.93% | +0.86 |
| LXEO Lexeo Therapeutics Inc. | New | 0.85% | +0.85 |
| IMVT Immunovant Inc. | Add +330.0% | 1.22% | +0.80 |
| BBIO Bridgebio Pharma Inc. | Add +50.0% | 1.72% | +0.79 |
| QURE Uniqure NV | New | 0.70% | +0.70 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +41.1% | 3.69% | +0.57 |
| AKBA Akebia Therapeutics Inc. | New | 0.48% | +0.48 |
| MAZE Maze Therapeutics Inc. | New | 0.46% | +0.46 |
| MNPR Monopar Therapeutics Inc. | New | 0.37% | +0.37 |
| VRDN Viridian Therapeutics Inc. | Add +144.3% | 0.87% | +0.35 |
| ROIV Roivant Sciences Ltd. | New | 0.25% | +0.25 |
| ACLX Arcellx Inc. | Add +24.7% | 5.76% | +0.22 |
| MBX MBX Biosciences Inc. | New | 0.21% | +0.21 |
| THRD Third Harmonic Bio Inc. | New | 0.21% | +0.21 |
| ETNB 89BIO Inc. | New | 0.21% | +0.21 |
| ABVX Abivax SA-ADR | New | 0.21% | +0.21 |
| OLMA Olema Pharmaceuticals Inc. | New | 0.20% | +0.20 |
| KYMR Kymera Therapeutics Inc. | Add +150.0% | 0.45% | +0.18 |
| AVTX Avalo Therapeutics Inc. | Add +19.3% | 0.87% | +0.18 |
| MGTX Meiragtx Holdings PLC | New | 0.17% | +0.17 |
| CLYM Climb Bio Inc. | Add +200.0% | 0.30% | +0.15 |
| VKTX Viking Therapeutics Inc. | New | 0.10% | +0.10 |
| STRO Sutro Biopharma Inc. Com SHS | New | 0.08% | +0.08 |
| CATX Perspective Therapeutics Inc. | Add +71.1% | 0.79% | +0.08 |
| OKUR Onkure Therapeutics Inc. Class A | Add +173.4% | 0.28% | +0.07 |
| CMPX Compass Therapeutics Inc. | New | 0.04% | +0.04 |
| OVID Ovid Therapeutics Inc. | New | 0.03% | +0.03 |
| RPTX Repare Therapeutics Inc. | Add +100.0% | 0.03% | +0.01 |
| ALLK Allakos LLC | New | 0.01% | +0.01 |
| APGE Apogee Therapeutics Inc. | Add +23.6% | 7.13% | −0.04 |
| AVR Anteris Technologies Global | Add +30.0% | 0.24% | −0.05 |
| ORKA Oruka Therapeutics Inc. | Add +47.9% | 0.93% | −0.29 |
| ESTA Establishment Labs Holdings | Add +0.2% | 1.89% | −0.29 |
| ERAS Erasca Inc. | Add +33.7% | 0.76% | −0.31 |
| XENE Xenon Pharmaceuticals Inc. | Add +14.4% | 7.39% | −0.35 |
| RZLT Rezolute Inc. | Add +7.9% | 0.82% | −0.49 |
| PRQR Proqr Therapeutics NV | Add +16.3% | 0.72% | −0.55 |
| WVE Wave Life Sciences Ltd. | Add +21.7% | 2.44% | −0.71 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 400,000 | $223.8M |
| IWM iShares Russell 2000 ETF | put | New | 300,000 | $59.8M |
| XBI SS SPDR S&P Biotech ETF | put | Reduce -33.3% | 500,000 | $40.5M |
| AMGN Amgen Inc. | call | Add +133.3% | 70,000 | $21.8M |
| MESO Mesoblast Ltd.- Spon ADR | put | Sold out | 838,600 | $16.6Mbefore exit |
| ALNY Alnylam Pharmaceuticals Inc. | call | New | 55,000 | $14.9M |
| PTGX Protagonist Therapeutics Inc. | call | New | 172,500 | $8.3M |
| CORT Corcept Therapeutics Inc. | call | New | 70,000 | $8.0M |
| VERA Vera Therapeutics Inc. | call | New | 265,000 | $6.4M |
| NMRA Neumora Therapeutics Inc. | call | Sold out | 475,000 | $5.0Mbefore exit |
| EXEL Exelixis Inc. | call | New | 135,000 | $5.0M |
| EWTX Edgewise Therapeutics Inc. | put | New | 200,000 | $4.4M |
| FLNA Filana Therapeutics Inc. | put | Sold out | 1,739,400 | $4.1Mbefore exit |
| MLYS Mineralys Therapeutics Inc. | put | New | 200,000 | $3.2M |
| IBRX Immunitybio Inc. | put | Add +310.0% | 1,025,000 | $3.1M |
| CMPX Compass Therapeutics Inc. | put | New | 1,330,700 | $2.5M |
| GALT Galectin Therapeutics Inc. | put | Reduce -26.3% | 1,836,200 | $2.2M |
| NAMS Newamsterdam Pharma Co. NV | call | New | 99,800 | $2.0M |
| NAMS Newamsterdam Pharma Co. NV | put | New | 75,000 | $1.5M |
| TRML Tourmaline Bio Inc. | call | New | 100,000 | $1.5M |
| BMEA Biomea Fusion Inc. | put | Sold out | 150,000 | $582Kbefore exit |
| SYRS Syros Pharmaceuticals Inc. | put | Sold out | 1,541,200 | $354Kbefore exit |
| SLNO Soleno Therapeutics Inc. | call | Sold out | 200 | $9Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025
| COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) | NOTE 1.500% 4/1 · principal | Sold out | 16,625,000 | $16.2Mbefore exit |
| TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29) | NOTE 2.250% 3/0 · principal | Add +16.7% | 7,000,000 | $7.0M |
| NAMSW Newamsterdam Pharma Co. NV-27 | *W EXP 99/99/999 | Add +1.7% | 241,957 | $2.7M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 99 | $2.0B | ROIV, APGE, SYRE, XENE, ERAS |
| Q1 2026 | 90 | $1.7B | APGE, XENE, ERAS, INSM, ROIV |
| Q4 2025 | 80 | $1.3B | APGE, INSM, ABVX, VTYX, XENE |
| Q3 2025 | 80 | $1.0B | VRNA, INSM, SPY, XENE, MDGL |
| Q2 2025 | 71 | $648.9M | VRNA, INSM, XENE, ACLX, BPMC |
| Q1 2025 | 75 | $603.1M | XENE, APGE, VRNA, ACLX, ALKS |
| Q4 2024 | 68 | $588.3M | XENE, APGE, ACLX, ALKS, TEVA |
| Q3 2024 | 70 | $601.0M | XENE, APGE, NUVL, ACLX, ALKS |
| Q2 2024 | 78 | $576.0M | XENE, APGE, MDGL, ACLX, TEVA |
| Q1 2024 | 69 | $571.1M | APGE, XENE, MDGL, CRNX, AUTL |