Armistice Capital, LLC

Name: ARMISTICE CAPITAL, LLC 13F holdings, Q2 2025
Creator: ARMISTICE CAPITAL, LLC
Published: 2025-08-14

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Armistice Capital, LLC reported 179 stock positions worth $2.6 billion. Its top holding was PTC Therapeutics (PTCT) at 8.8% of the portfolio, followed by Supernus Pharmaceuticals (SUPN, 5.8%) and Travere Therapeutics (TVTX, 5.0%). Compared with Q1 2025, it opened 59 new positions, sold out of 79, added to 41 and reduced 73. The biggest buy was GE Healthcare Technology (GEHC, shares +150%) and the biggest sale an exit from Spectrum Brands (SPB).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001601086
Portfolio Value: $2.6B (Q2 2025)
SEC Filing: 0001315863-25-000629 ↗ filed Aug 14, 2025

Holdings Value

Holdings 179 stocks · $2.6B


PTCT PTC Therapeutics Inc.	8.77%	4,735,464	$231.3M	Reduce -12.9%
SUPN Supernus Pharmaceuticals Inc.	5.75%	4,812,000	$151.7M	Reduce -7.4%
TVTX Travere Therapeutics Inc.	4.98%	8,876,000	$131.4M	Add +0.1%
INCY Incyte Corp.	3.45%	1,336,000	$91.0M	Reduce -20.1%
NBIX Neurocrine Biosciences Inc.	3.22%	676,024	$85.0M	Reduce -32.4%
IMVT Immunovant Inc.	3.16%	5,200,000	$83.2M	Add +15.6%
GRFS Grifols SA-ADR	2.50%	7,298,000	$66.0M	Reduce -21.3%
GEHC GE Healthcare Technology	2.13%	756,281	$56.0M	Add +149.6%
REGN Regeneron Pharmaceuticals	1.99%	100,032	$52.5M	Reduce -12.3%
FIVN FIVE9 Inc.	1.84%	1,836,000	$48.6M	Reduce -12.5%
AMZN Amazon.com Inc.	1.83%	219,423	$48.1M	Reduce -16.9%
STAA Staar Surgical Co.	1.79%	2,812,000	$47.2M	Reduce -6.3%
ARGX Argenx SE - ADR	1.67%	80,000	$44.1M	Reduce -18.4%
CYTK Cytokinetics Inc.	1.64%	1,312,349	$43.4M	Add +28.2%
MCD McDonald's Corp.	1.59%	143,580	$41.9M	Add +258.9%
MSFT Microsoft Corp.	1.58%	83,737	$41.7M	Reduce -36.6%
EXAS Exact Sciences Corp.	1.50%	741,956	$39.4M	Reduce -58.1%
AGIO Agios Pharmaceuticals Inc.	1.47%	1,168,000	$38.8M	Reduce -43.0%
FRPT Freshpet Inc.	1.46%	565,403	$38.4M	Reduce -21.1%
MDGL Madrigal Pharmaceuticals Inc.	1.42%	124,000	$37.5M	Reduce -8.8%
TMCI Treace Medical Concepts Inc.	1.40%	6,260,000	$36.8M	Add +0.8%
KURA Kura Oncology Inc.	1.36%	6,200,000	$35.8M	Reduce -5.7%
GOOGL Alphabet Inc. Class A	1.27%	190,400	$33.6M	Reduce -35.9%
OFIX Orthofix Medical Inc.	1.26%	2,978,000	$33.2M	Add +0.5%
BHVN Biohaven Ltd.	1.14%	2,136,000	$30.1M	Add +27.6%
RIGL Rigel Pharmaceuticals Inc.	1.14%	1,600,000	$30.0M	Add +5.5%
AUTL Autolus Therapeutics PLC	1.04%	12,000,000	$27.4M	Add +9.1%
PENN Penn Entertainment Inc.	0.96%	1,413,588	$25.3M	Reduce -54.2%
AVNS Avanos Medical Inc.	0.95%	2,036,000	$24.9M	Add +1.8%
PFGC Performance Food Group Co.	0.93%	280,000	$24.5M	Reduce -14.0%
DYN Dyne Therapeutics Inc.	0.92%	2,560,000	$24.4M	Reduce -7.5%
IRON Disc Medicine Inc.	0.88%	436,000	$23.1M	No change
ADBE Adobe Inc.	0.87%	59,587	$23.1M	Reduce -46.4%
MDT Medtronic PLC	0.87%	264,000	$23.0M	Reduce -51.2%
EAT Brinker International Inc.	0.86%	125,827	$22.7M	Add +28.7%
S Sentinelone Inc. Class A	0.86%	1,235,484	$22.6M	Reduce -33.8%
PLNT Planet Fitness Inc. Class A	0.83%	200,039	$21.8M	Reduce -42.4%
MDB Mongodb Inc.	0.82%	103,496	$21.7M	Add +130.2%
IMCR Immunocore Holdings PLC-ADR	0.81%	678,000	$21.3M	Reduce -30.7%
IBRX Immunitybio Inc.	0.78%	7,764,000	$20.5M	New
CHDN Churchill Downs Inc.	0.77%	200,153	$20.2M	Add +14.2%
DDOG Datadog Inc. Class A	0.76%	150,000	$20.1M	Reduce -37.5%
BCYC Bicycle Therapeutics PLC-ADR	0.74%	2,800,000	$19.5M	Add +4.8%
CMG Chipotle Mexican Grill Inc.	0.69%	325,847	$18.3M	Add +185.8%
SNN Smith & Nephew PLC -Spon ADR	0.61%	522,038	$16.0M	Reduce -70.5%
WDAY Workday Inc. Class A	0.58%	64,016	$15.4M	Reduce -38.4%
ANGO Angiodynamics Inc.	0.57%	1,527,815	$15.2M	Reduce -27.0%
VYGR Voyager Therapeutics Inc.	0.57%	4,800,000	$14.9M	Reduce -11.7%
GTLB Gitlab Inc. Class A	0.55%	323,559	$14.6M	New
AUPH Aurinia Pharmaceuticals Inc.	0.52%	1,629,600	$13.8M	Reduce -67.4%
PRTA Prothena Corp. PLC	0.51%	2,236,000	$13.6M	Add +1.8%
NPCE Neuropace Inc.	0.49%	1,152,335	$12.8M	Reduce -0.1%
ISRG Intuitive Surgical Inc.	0.47%	22,995	$12.5M	Reduce -20.9%
DT Dynatrace Inc.	0.47%	223,988	$12.4M	Reduce -10.4%
HUBS HubSpot Inc.	0.47%	22,104	$12.3M	Add +83.6%
TMO Thermo Fisher Scientific Inc.	0.46%	29,964	$12.1M	New
AXGN Axogen Inc.	0.46%	1,111,319	$12.1M	Add +106.5%
TOST Toast Inc. Class A	0.45%	265,504	$11.8M	Reduce -69.3%
IRWD Ironwood Pharmaceuticals Inc.	0.44%	16,150,000	$11.6M	Add +17.9%
JNJ Johnson & Johnson	0.44%	75,218	$11.5M	New
ENR Energizer Holdings Inc.	0.41%	536,000	$10.8M	Reduce -52.5%
ROST Ross Stores Inc.	0.39%	81,018	$10.3M	Add +8.5%
SXT Sensient Technologies Corp.	0.39%	103,805	$10.2M	Reduce -81.1%
CENTA Central Garden and Pet Co. Class A	0.38%	324,000	$10.1M	Reduce -68.4%
NVDA Nvidia Corp.	0.37%	62,000	$9.8M	Reduce -41.6%
TSM Taiwan Semiconductor-SP ADR	0.35%	41,000	$9.3M	Reduce -33.9%
LTH Life Time Group Holdings Inc.	0.35%	301,290	$9.1M	New
VSTM Verastem Inc.	0.34%	2,136,000	$8.9M	New
PATH Uipath Inc. Class A	0.34%	692,000	$8.9M	Reduce -61.5%
UBER Uber Technologies Inc.	0.32%	91,722	$8.6M	Reduce -61.1%
RRR Red Rock Resorts Inc. Class A	0.32%	161,179	$8.4M	New
QSR Restaurant Brands Intern	0.31%	124,391	$8.2M	New
BSX Boston Scientific Corp.	0.31%	75,000	$8.1M	Add +50.7%
RDDT Reddit Inc. Class A	0.30%	53,000	$8.0M	Add +47.2%
XRAY Dentsply Sirona Inc.	0.30%	501,413	$8.0M	Reduce -83.3%
DRI Darden Restaurants Inc.	0.30%	36,443	$7.9M	Reduce -40.8%
PII Polaris Inc.	0.27%	178,000	$7.2M	New
MGNX Macrogenics Inc.	0.27%	5,960,000	$7.2M	Reduce -5.3%
CCL Carnival Corp.	0.26%	246,270	$6.9M	New
NBIS Nebius Group NV	0.26%	124,000	$6.9M	Reduce -78.2%
BABA Alibaba Group Holding-SP ADR	0.25%	58,000	$6.6M	New
VNRX Volitionrx Ltd.	0.24%	8,493,074	$6.5M	Add +3.5%
ORLY O'reilly Automotive Inc.	0.24%	70,925	$6.4M	Add +14.0%
HST Host Hotels & Resorts Inc.	0.23%	398,687	$6.1M	New
NTLA Intellia Therapeutics Inc.	0.23%	650,000	$6.1M	Add +78.6%
DHR Danaher Corp.	0.22%	29,319	$5.8M	Reduce -63.8%
ELF Elf Beauty Inc.	0.22%	46,455	$5.8M	New
FLUT Flutter Entertainment PLC-Di	0.22%	19,858	$5.7M	New
FWRG First Watch Restaurant Group	0.21%	350,000	$5.6M	New
SAM Boston Beer Company Inc. Class A	0.20%	28,000	$5.3M	Reduce -86.7%
APP AppLovin Corp. Class A	0.20%	15,070	$5.3M	Reduce -54.5%
CNTA Centessa Pharmaceuticals Ltd.	0.20%	400,000	$5.3M	Reduce -14.5%
ULTA Ulta Beauty Inc.	0.20%	11,174	$5.2M	Add +9.2%
LOW Lowe's Cos Inc.	0.18%	21,935	$4.9M	Reduce -1.0%
H Hyatt Hotels Corp. Class A	0.18%	34,779	$4.9M	New
VRCA Verrica Pharmaceuticals Inc.	0.18%	8,881,344	$4.7M	Add +3.7%
INGN Inogen Inc.	0.18%	664,000	$4.7M	New
ARAY Accuray Inc.	0.17%	3,236,000	$4.4M	Add +27.6%
LEN Lennar Corp. Class A	0.17%	40,021	$4.4M	Add +14.3%
SHW The Sherwin-Williams Co.	0.16%	12,500	$4.3M	Reduce -10.8%
RH RH	0.16%	22,292	$4.2M	Reduce -69.3%
WYNN WYNN Resorts Ltd.	0.16%	44,857	$4.2M	New
ARVN Arvinas Inc.	0.16%	560,000	$4.1M	New
DECK Deckers Outdoor Corp.	0.15%	38,516	$4.0M	Reduce -52.7%
AS Amer Sports Inc.	0.15%	101,309	$3.9M	Reduce -7.0%
ANRO Alto Neuroscience Inc.	0.14%	1,624,000	$3.6M	Add +1.5%
LEVI Levi Strauss & Co. Class A	0.13%	190,000	$3.5M	Reduce -13.6%
BBY Best Buy Co. Inc.	0.13%	49,373	$3.3M	Reduce -31.6%
AZN Astrazeneca PLC-Spons ADR	0.12%	47,000	$3.3M	Add +95.8%
MOBIX LABS INC	0.12%	4,276,000	$3.3M	New
GKOS Glaukos Corp.	0.12%	31,438	$3.2M	New
NKTR Nektar Therapeutics	0.12%	124,000	$3.2M	Add +79.5%
VERA Vera Therapeutics Inc.	0.12%	136,000	$3.2M	Reduce -54.7%
LLY Eli Lilly & Co.	0.12%	3,898	$3.0M	Add +1137.5%
PDSB PDS Biotechnology Corp.	0.11%	2,236,000	$3.0M	Reduce -49.4%
AVPT Avepoint Inc.	0.11%	150,000	$2.9M	New
VSXY Victoria's Secret & Co.	0.11%	155,000	$2.9M	Add +29.2%
LIVN Livanova PLC	0.10%	61,000	$2.7M	New
CROX Crocs Inc.	0.10%	25,685	$2.6M	New
SYRE Spyre Therapeutics Inc.	0.10%	172,000	$2.6M	Reduce -14.0%
MLYS Mineralys Therapeutics Inc.	0.09%	178,000	$2.4M	New
CPRI Capri Holdings Ltd.	0.09%	135,000	$2.4M	No change
BJRI Bj's Restaurants Inc.	0.08%	50,000	$2.2M	No change
CNDT Conduent Inc.	0.08%	836,000	$2.2M	New
SPOT Spotify Technology SA	0.08%	2,816	$2.2M	Reduce -44.3%
CRIS Curis Inc.	0.08%	899,925	$2.1M	Reduce -12.9%
KMX Carmax Inc.	0.08%	30,295	$2.0M	Add +102.2%
META Meta Platforms Inc. Class A	0.07%	2,675	$2.0M	New
SLDB Solid Biosciences Inc.	0.07%	400,000	$1.9M	New
SNTI Senti Biosciences Inc.	0.07%	892,207	$1.9M	New
TOON Kartoon Studios Inc.	0.07%	2,473,801	$1.8M	Reduce -39.6%
RMTI Rockwell Medical Inc.	0.07%	2,149,471	$1.8M	Reduce -9.2%
KYNB Kyntra Bio Inc. filed as FIBROGEN INC	0.07%	336,000	$1.8M	New
RANI Rani Therapeutics Holdings Class A	0.06%	3,151,354	$1.6M	New
ZURA Zura Bio Ltd.	0.06%	1,536,000	$1.6M	No change
ENLV Enlivex Ltd.	0.06%	1,413,306	$1.6M	Reduce -20.7%
MELI MercadoLibre Inc.	0.06%	589	$1.5M	New
CRBP Corbus Pharmaceuticals Holdi	0.05%	192,000	$1.3M	Reduce -23.2%
SPHERE 3D CORP	0.04%	1,996,000	$1.2M	Reduce -9.5%
LM FDG AMER INC	0.04%	397,899	$1.1M	Add +28.4%
FDMT 4D Molecular Therapeutics Inc.	0.04%	300,000	$1.1M	No change
ROKU Roku Inc.	0.04%	12,641	$1.1M	New
PMN Promis Neurosciences Inc.	0.04%	2,137,896	$1.0M	Reduce -8.4%
REVIVA PHARMACEUTCLS HLDGS I	0.04%	2,692,000	$1.0M	New
SE Sea Ltd.-ADR	0.04%	6,200	$992K	New
NUVB Nuvation Bio Inc.	0.04%	500,000	$975K	New
MNTS Momentus Inc.	0.04%	792,000	$966K	Add +199.7%
MACKENZIE RLTY CAP INC	0.03%	1,243,735	$833K	Reduce -14.0%
ARBK Argo Blockchain PLC	0.03%	4,435,969	$830K	New
WKSP Worksport Ltd.	0.03%	246,548	$698K	Reduce -31.6%
ACXP Acurx Pharmaceuticals Inc.	0.02%	1,078,540	$551K	New
SRZN Surrozen Inc.	0.02%	60,000	$536K	New
GE General Electric filed as GE AEROSPACE	0.02%	1,958	$504K	New
DLTR Dollar Tree Inc.	0.02%	4,248	$421K	New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO	0.02%	1,286	$412K	New
TPL Texas Pacific Land Corp.	0.02%	383	$405K	New
ED Consolidated Edison Inc.	0.02%	4,014	$403K	New
QUCY Quantum Cyber NV filed as MAINZ BIOMED N V	0.02%	285,000	$402K	Add +45.0%
IOT Samsara Inc. Class A	0.01%	9,912	$394K	New
KMTS Kestra Medical Technologies	0.01%	22,834	$379K	Add +82.7%
XRT SS SPDR S&P Retail ETF	0.01%	4,870	$375K	New
MMM 3M Co.	0.01%	2,232	$340K	New
CNSP CNS Pharmaceuticals Inc.	0.01%	406,000	$335K	New
THO Thor Industries Inc.	0.01%	3,480	$309K	New
CAG Conagra Brands Inc.	0.01%	13,554	$277K	New
AMH American Homes 4 Rent- A	0.01%	7,654	$276K	New
SNEX Stonex Group Inc.	0.01%	2,956	$269K	New
CME Cme Group Inc.	0.01%	952	$262K	New
MMS Maximus Inc.	0.01%	3,643	$256K	New
MNST Monster Beverage Corp.	0.01%	3,997	$250K	New
MO Altria Group Inc.	0.01%	4,216	$247K	New
TSN Tyson Foods Inc. Class A	0.01%	4,264	$239K	New
AETHLON MED INC	0.01%	185,000	$222K	Add +3.6%
AWR American States Water Co. filed as AMER STATES WTR CO	0.01%	2,850	$218K	New
DRMA Dermata Therapeutics Inc.	0.01%	322,179	$188K	Reduce -21.6%
CLDI Calidi Biotherapeutics Inc.	0.01%	792,000	$182K	Reduce -76.2%
OTRKQ Ontrak Inc.	0.01%	356,666	$178K	New
IVPR Inspire Veterinary Partne-A	0.00%	60,000	$101K	Reduce -70.4%
NXTC Nextcure Inc.	0.00%	104,000	$48K	No change

Options reported separately and not counted above: SPY puts ($1.5B), IWM puts ($1.5B), MDGL calls ($51.4M), CYTK calls ($44.3M), FIVN calls ($37.6M).

Other holdings (21): bonds, preferreds, convertibles and warrants · $1.9M (not counted above)

Security	Class	Shares / Principal	Value	Change
GROY.WS Gold Royalty Corp. -29	*W EXP 05/31/202	2,200,000	$770K	No change
MTEKW Maris - Tech Ltd. -23	*W EXP 02/04/202	1,261,058	$378K	No change
BEATW Heartbeam Inc.-CW26	*W EXP 10/31/202	500,000	$160K	No change
NXGLW Nexgel Inc. -CW26	*W EXP 12/27/202	550,000	$138K	No change
LCFYW Locafy Ltd.-CW27	*W EXP 03/29/202	12,121	$126K	No change
MOBBW Mobilicom Ltd. -27	*W EXP 08/31/202	242,100	$90K	No change
MDCXW Medicus Pharma Ltd. -29	*W EXP 11/15/202	60,600	$54K	No change
ONFOW Onfolio Holdings Inc. -27	*W EXP 01/02/202	400,000	$52K	No change
FGIWW Fgi Industries Ltd. -23	*W EXP 99/99/999	933,333	$41K	No change
BIAFW Bioaffinity Technologiew-27	*W EXP 09/07/202	204,082	$27K	No change
NXLIW Nexalin Technology Inc.- 27	*W EXP 99/99/999	325,000	$15K	No change
SWAGW Stran & Co. -CW26	*W EXP 99/99/999	545,000	$13K	No change
RVSNW Rail Vision Ltd.-CW27	*W EXP 03/27/202	136,187	$10K	No change
SQFTW Presidio Property TRST -CW27	*W EXP 01/24/202	200,000	$7K	Reduce -90.0%
IVDAW Iveda Solutions Inc. -CW27	*W EXP 04/01/202	18,125	$2K	No change
BNCWW Cea Industries Inc. -CW27	*W EXP 02/11/202	58,333	$2K	No change
BCTXW Briacell Therapeutics -CW27	*W EXP 02/26/202	25,000	$2K	No change
KTTAW Pasithea Therapeutics -CW26	*W EXP 08/12/202	50,000	$1K	No change
SBEVW Splash Beverage Group -CW	*W EXP 06/15/202	22,600	$486	New
TNONW Tenon Medical Inc.-28	*W EXP 06/16/202	22,250	$409	No change
NLSPW NLS Pharmaceutics Ltd. -CW25	*W EXP 02/02/202	12,500	$250	No change

Total filed on the 13F, all lines: $2.6B.

Portfolio Sells Q1 2025 → Q2 2025


SPB Spectrum Brands Holdings Inc.	Sold out	0.00%	−1.32
SMPL The Simply Good Foods Co.	Sold out	0.00%	−1.25
SAM Boston Beer Company Inc. Class A	Reduce -86.7%	0.20%	−1.14
DPZ Domino's Pizza Inc.	Sold out	0.00%	−1.11
KDP Keurig Dr Pepper Inc.	Sold out	0.00%	−1.01
XRAY Dentsply Sirona Inc.	Reduce -83.3%	0.30%	−0.90
MRK Merck & Co. Inc.	Sold out	0.00%	−0.78
SNY Sanofi-ADR	Sold out	0.00%	−0.78
SNN Smith & Nephew PLC -Spon ADR	Reduce -70.5%	0.61%	−0.74
TXRH Texas Roadhouse Inc.	Sold out	0.00%	−0.73
SXT Sensient Technologies Corp.	Reduce -81.1%	0.39%	−0.71
SHAK Shake Shack Inc. Class A	Sold out	0.00%	−0.67
VRTX Vertex Pharmaceuticals Inc.	Sold out	0.00%	−0.65
EXAS Exact Sciences Corp.	Reduce -58.1%	1.50%	−0.56
AUPH Aurinia Pharmaceuticals Inc.	Reduce -67.4%	0.52%	−0.55
NOMD Nomad Foods Ltd.	Sold out	0.00%	−0.54
HELE Helen of Troy Ltd.	Sold out	0.00%	−0.53
EL Estee Lauder Companies Class A	Sold out	0.00%	−0.53
CENTA Central Garden and Pet Co. Class A	Reduce -68.4%	0.38%	−0.51
TRVI Trevi Therapeutics Inc.	Sold out	0.00%	−0.50
ENR Energizer Holdings Inc.	Reduce -52.5%	0.41%	−0.49
WH Wyndham Hotels & Resorts Inc.	Sold out	0.00%	−0.48
SN Sharkninja Inc.	Sold out	0.00%	−0.47
ICLR Icon PLC	Sold out	0.00%	−0.47
SKX Skechers USA Inc. Class A	Sold out	0.00%	−0.45
MDT Medtronic PLC	Reduce -51.2%	0.87%	−0.43
HUM Humana Inc.	Sold out	0.00%	−0.40
XOM Exxon Mobil Corp.	Sold out	0.00%	−0.39
GSK GSK PLC-Spon ADR	Sold out	0.00%	−0.39
PENN Penn Entertainment Inc.	Reduce -54.2%	0.96%	−0.39
GMED Globus Medical Inc. Class A	Sold out	0.00%	−0.34
TOST Toast Inc. Class A	Reduce -69.3%	0.45%	−0.32
RH RH	Reduce -69.3%	0.16%	−0.29
NKE Nike Inc. Class B	Sold out	0.00%	−0.29
ADBE Adobe Inc.	Reduce -46.4%	0.87%	−0.27
DHR Danaher Corp.	Reduce -63.8%	0.22%	−0.22
YUM Yum! Brands Inc.	Sold out	0.00%	−0.21
NVO Novo-Nordisk A/S-Spons ADR	Sold out	0.00%	−0.20
ZETA Zeta Global Holdings Corp. Class A	Sold out	0.00%	−0.19
BILL Bill Holdings Inc.	Sold out	0.00%	−0.19
PATH Uipath Inc. Class A	Reduce -61.5%	0.34%	−0.16
MUSA Murphy USA Inc.	Sold out	0.00%	−0.16
CPNG Coupang Inc.	Sold out	0.00%	−0.15
PFE Pfizer Inc.	Sold out	0.00%	−0.14
FRPT Freshpet Inc.	Reduce -21.1%	1.46%	−0.14
UBER Uber Technologies Inc.	Reduce -61.1%	0.32%	−0.13
AGIO Agios Pharmaceuticals Inc.	Reduce -43.0%	1.47%	−0.13
MDCX Medicus Pharma Ltd.	Sold out	0.00%	−0.13
LVS Las Vegas Sands Corp.	Sold out	0.00%	−0.12
EW Edwards Lifesciences Corp.	Sold out	0.00%	−0.12

Portfolio Buys Q1 2025 → Q2 2025


GEHC GE Healthcare Technology	Add +149.6%	2.13%	+1.47
MCD McDonald's Corp.	Add +258.9%	1.59%	+1.26
IMVT Immunovant Inc.	Add +15.6%	3.16%	+1.10
IBRX Immunitybio Inc.	New	0.78%	+0.78
TVTX Travere Therapeutics Inc.	Add +0.1%	4.98%	+0.73
MDB Mongodb Inc.	Add +130.2%	0.82%	+0.61
AUTL Autolus Therapeutics PLC	Add +9.1%	1.04%	+0.58
GTLB Gitlab Inc. Class A	New	0.55%	+0.55
CYTK Cytokinetics Inc.	Add +28.2%	1.64%	+0.55
CMG Chipotle Mexican Grill Inc.	Add +185.8%	0.69%	+0.54
EAT Brinker International Inc.	Add +28.7%	0.86%	+0.47
TMO Thermo Fisher Scientific Inc.	New	0.46%	+0.46
JNJ Johnson & Johnson	New	0.44%	+0.44
RIGL Rigel Pharmaceuticals Inc.	Add +5.5%	1.14%	+0.41
LTH Life Time Group Holdings Inc.	New	0.35%	+0.35
VSTM Verastem Inc.	New	0.34%	+0.34
RRR Red Rock Resorts Inc. Class A	New	0.32%	+0.32
QSR Restaurant Brands Intern	New	0.31%	+0.31
HUBS HubSpot Inc.	Add +83.6%	0.47%	+0.28
PII Polaris Inc.	New	0.27%	+0.27
CCL Carnival Corp.	New	0.26%	+0.26
BABA Alibaba Group Holding-SP ADR	New	0.25%	+0.25
CHDN Churchill Downs Inc.	Add +14.2%	0.77%	+0.25
HST Host Hotels & Resorts Inc.	New	0.23%	+0.23
ELF Elf Beauty Inc.	New	0.22%	+0.22
FLUT Flutter Entertainment PLC-Di	New	0.22%	+0.22
FWRG First Watch Restaurant Group	New	0.21%	+0.21
RDDT Reddit Inc. Class A	Add +47.2%	0.30%	+0.20
AXGN Axogen Inc.	Add +106.5%	0.46%	+0.19
H Hyatt Hotels Corp. Class A	New	0.18%	+0.18
AVNS Avanos Medical Inc.	Add +1.8%	0.95%	+0.18
INGN Inogen Inc.	New	0.18%	+0.18
BSX Boston Scientific Corp.	Add +50.7%	0.31%	+0.17
NTLA Intellia Therapeutics Inc.	Add +78.6%	0.23%	+0.16
WYNN WYNN Resorts Ltd.	New	0.16%	+0.16
ARVN Arvinas Inc.	New	0.16%	+0.16
ROST Ross Stores Inc.	Add +8.5%	0.39%	+0.14
BCYC Bicycle Therapeutics PLC-ADR	Add +4.8%	0.74%	+0.13
MOBIX LABS INC	New	0.12%	+0.12
GKOS Glaukos Corp.	New	0.12%	+0.12
VNRX Volitionrx Ltd.	Add +3.5%	0.24%	+0.12
AVPT Avepoint Inc.	New	0.11%	+0.11
LLY Eli Lilly & Co.	Add +1137.5%	0.12%	+0.11
LIVN Livanova PLC	New	0.10%	+0.10
NKTR Nektar Therapeutics	Add +79.5%	0.12%	+0.10
CROX Crocs Inc.	New	0.10%	+0.10
ULTA Ulta Beauty Inc.	Add +9.2%	0.20%	+0.10
MLYS Mineralys Therapeutics Inc.	New	0.09%	+0.09
CNDT Conduent Inc.	New	0.08%	+0.08
ORLY O'reilly Automotive Inc.	Add +14.0%	0.24%	+0.08

Options Activity Q1 2025 → Q2 2025


IWM iShares Russell 2000 ETF	put	Add +4.5%	7,000,000	$1.5B
MDGL Madrigal Pharmaceuticals Inc.	call	Reduce -43.3%	170,000	$51.4M
CYTK Cytokinetics Inc.	call	Reduce -50.4%	1,340,000	$44.3M
FIVN FIVE9 Inc.	call	New	1,420,000	$37.6M
IMVT Immunovant Inc.	call	Sold out	900,000	$15.4Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025


APCXW Apptech -CW26	*W EXP 01/04/202	Sold out	715,000	$127Kbefore exit
SQFTW Presidio Property TRST -CW27	*W EXP 01/24/202	Reduce -90.0%	200,000	$7K
SBEVW Splash Beverage Group -CW	*W EXP 06/15/202	New	22,600	$486

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	305	$3.6B	MDGL, SUPN, CYTK, INCY, NBIX
Q1 2026	235	$3.0B	TVTX, PTCT, MDGL, SUPN, NBIX
Q4 2025	341	$4.1B	PTCT, MDGL, IMVT, TVTX, SUPN
Q3 2025	305	$3.2B	PTCT, TVTX, SUPN, INCY, NBIX
Q2 2025	179	$2.6B	PTCT, SUPN, TVTX, INCY, NBIX
Q1 2025	199	$3.7B	PTCT, SUPN, TVTX, NBIX, INCY
Q4 2024	194	$4.3B	PTCT, SUPN, TVTX, INCY, NBIX
Q3 2024	228	$3.8B	PTCT, SUPN, INCY, TVTX, IMVT
Q2 2024	221	$3.8B	PTCT, SUPN, NBIX, CYTK, INCY
Q1 2024	300	$3.8B	PTCT, NBIX, INCY, SUPN, CYTK