AIGH Capital Management LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 31, 2025), AIGH Capital Management LLC reported 34 stock positions worth $285.6 million . Its top holding was Sandisk (SNDK) at 11.0% of the portfolio, followed by Personalis (PSNL, 8.9% ) and Huckleberry AI (HUCK, 7.4% ). Compared with Q2 2025, it opened 15 new positions, sold out of 15, added to 4 and reduced 10. The biggest buy was a new position in Sandisk (SNDK) and the biggest sale an exit from Scpharmaceuticals (SCPH).
Location BALTIMORE, MD
CIK 0001835943
Portfolio Value $285.6M (Q3 2025) Holdings 34 stocks · $285.6M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 SNDK Sandisk Corp. 280,000 $31.4M New PSNL Personalis Inc. 3,892,101 $25.4M Add +4.5% HUCK Huckleberry AI Inc. filed as DOMO INC 1,341,518 $21.2M No change ARQ Arq Inc. 2,579,486 $18.5M Reduce -2.8% MXL Maxlinear Inc. 1,107,504 $17.8M New LASR Nlight Inc. 600,103 $17.8M No change CSTL Castle Biosciences Inc. 707,287 $16.1M New LUMN Lumen Technologies Inc. 2,550,000 $15.6M New ZVRA Zevra Therapeutics Inc. 1,231,932 $11.7M Add +34.1% DAWN Day One Biopharmaceuticals I 1,520,492 $10.7M New APPS Digital Turbine Inc. 1,523,068 $9.7M New BKTI BK Technologies Corp. 99,009 $8.4M New VPG Vishay Precision Group 250,000 $8.0M Reduce -41.0% ESPR Esperion Therapeutics Inc. 3,000,000 $8.0M New LPTH Lightpath Technologies Inc. Class A 900,000 $7.1M Reduce -75.3% FENC Fennec Pharmaceuticals Inc. 681,501 $6.4M Add +50.6% COYA Coya Therapeutics Inc. 1,105,622 $6.3M No change VELO VELO3D Inc. 1,719,874 $5.3M New PHAT Phathom Pharmaceuticals Inc. 429,000 $5.0M New AMBA Ambarella Inc. 50,000 $4.1M New TLPH Talphera Inc. 4,454,545 $4.0M New PYPD Polypid Ltd. 1,065,128 $3.6M Reduce -10.8% RNXT Renovorx Inc. 2,615,193 $3.3M Reduce -24.6% LRMR Larimar Therapeutics Inc. 1,000,000 $3.2M New ELUT Elutia Inc. 3,165,128 $2.8M Reduce -8.3% VUZI Vuzix Corp. 898,648 $2.8M New GRCE Grace Therapeutics Inc. 907,217 $2.7M Reduce -19.6% IPWR Ideal Power Inc. 513,047 $2.6M Reduce -23.3% NRXS Neuraxis Inc. 400,000 $1.2M No change ELVA Electrovaya Inc. 192,100 $1.1M Reduce -91.1% ARDX Ardelyx Inc. 198,500 $1.1M New BFRI Biofrontera Inc. 1,046,050 $1.0M Add +7.3% APRE Aprea Therapeutics Inc. 539,300 $795K No change SMTK Smartkem Inc. 425,277 $714K Reduce -3.1%
Options reported separately and not counted above: SEAGATE TECHNOLOGY HLDNGS PL calls ($37.9M), GLW calls ($12.3M), MBLY calls ($11.3M), ZVRA calls ($7.7M).
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ SCPH Scpharmaceuticals Inc. Sold out 0.00% −6.91 BLZE Backblaze Inc. Class A Sold out 0.00% −4.67 VSTM Verastem Inc. Sold out 0.00% −3.90 MYO Myomo Inc. Sold out 0.00% −3.60 ALNT Allient Inc. Sold out 0.00% −3.41 ELVA Electrovaya Inc. Reduce -91.1% 0.40% −3.05 HRTX Heron Therapeutics Inc. Sold out 0.00% −2.92 VPG Vishay Precision Group Reduce -41.0% 2.81% −2.78 LPTH Lightpath Technologies Inc. Class A Reduce -75.3% 2.50% −2.77 THTX Theratechnologies Inc. Sold out 0.00% −2.31 ELUT Elutia Inc. Reduce -8.3% 0.99% −2.22 ANGO Angiodynamics Inc. Sold out 0.00% −2.21 RNXT Renovorx Inc. Reduce -24.6% 1.16% −0.98 AMPG Amplitech Group Inc. Sold out 0.00% −0.90 PYPD Polypid Ltd. Reduce -10.8% 1.24% −0.73 KALA Kala Bio Inc. Sold out 0.00% −0.67 GRCE Grace Therapeutics Inc. Reduce -19.6% 0.95% −0.63 IPWR Ideal Power Inc. Reduce -23.3% 0.90% −0.52 IDN Intellicheck Inc. Sold out 0.00% −0.39 BIOMX INC Sold out 0.00% −0.33 KPRX Kiora Pharmaceuticals Inc. Sold out 0.00% −0.29 FKWL Franklin Wireless Corp. Sold out 0.00% −0.27 ARQ Arq Inc. Reduce -2.8% 6.47% −0.22 INAB IN8BIO Inc. Sold out 0.00% −0.15 SMTK Smartkem Inc. Reduce -3.1% 0.25% +0.04
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ SNDK Sandisk Corp. New 11.00% +11.00 MXL Maxlinear Inc. New 6.24% +6.24 CSTL Castle Biosciences Inc. New 5.64% +5.64 LUMN Lumen Technologies Inc. New 5.46% +5.46 DAWN Day One Biopharmaceuticals I New 3.75% +3.75 APPS Digital Turbine Inc. New 3.41% +3.41 BKTI BK Technologies Corp. New 2.93% +2.93 ESPR Esperion Therapeutics Inc. New 2.78% +2.78 VELO VELO3D Inc. New 1.85% +1.85 PHAT Phathom Pharmaceuticals Inc. New 1.77% +1.77 AMBA Ambarella Inc. New 1.44% +1.44 TLPH Talphera Inc. New 1.39% +1.39 LRMR Larimar Therapeutics Inc. New 1.13% +1.13 VUZI Vuzix Corp. New 0.98% +0.98 FENC Fennec Pharmaceuticals Inc. Add +50.6% 2.23% +0.47 ARDX Ardelyx Inc. New 0.38% +0.38 ZVRA Zevra Therapeutics Inc. Add +34.1% 4.10% +0.30 BFRI Biofrontera Inc. Add +7.3% 0.36% +0.04 PSNL Personalis Inc. Add +4.5% 8.89% −2.58
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SEAGATE TECHNOLOGY HLDNGS PL call New 12,470,132 $37.9M GLW Corning Inc. call Add +2088.3% 3,829,453 $12.3M MBLY Mobileye Global Inc. Class A call New 4,423,008 $11.3M ZVRA Zevra Therapeutics Inc. call New 3,221,110 $7.7M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 42 $1.1B SNDK, MXL, INTC, APPS, SIMO Q1 2026 40 $488.3M SNDK, TYGO, SIMO, ZBRA, LASR Q4 2025 31 $338.3M SNDK, CSTL, PSNL, LASR, DAWN Q3 2025 34 $285.6M SNDK, PSNL, HUCK, ARQ, MXL Q2 2025 34 $213.1M PSNL, HUCK, SCPH, ARQ, VPG Q1 2025 38 $192.7M VSTM, MYO, PSNL, ARQ, SCPH Q4 2024 36 $265.7M PSNL, MYO, ARQ, DCTH, MRVL Q3 2024 37 $213.6M PSNL, SCPH, ARQ, DCTH, APPS Q2 2024 35 $204.9M SIMO, INFN, DCTH, SCPH, ARQ Q1 2024 39 $207.3M SCPH, OUST, ELVA, CLRB, DCTH