Armistice Capital, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Armistice Capital, LLC reported 235 stock positions worth $3.0 billion. Its top holding was Travere Therapeutics (TVTX) at 4.8% of the portfolio, followed by PTC Therapeutics (PTCT, 4.7%) and Madrigal Pharmaceuticals (MDGL, 4.6%). Compared with Q4 2025, it opened 98 new positions, sold out of 204, added to 54 and reduced 79. The biggest buy was a new position in Unitedhealth (UNH) and the biggest sale Kenvue (KVUE, shares −99%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001601086
Portfolio Value
$3.0B (Q1 2026)
SEC Filing
0001315863-26-000414 ↗ filed May 15, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $3.8B Q1 2024 Q2 2024: $3.8B Q2 2024 Q3 2024: $3.8B Q3 2024 Q4 2024: $4.3B Q4 2024 Q1 2025: $3.7B Q1 2025 Q2 2025: $2.6B Q2 2025 Q3 2025: $3.2B Q3 2025 Q4 2025: $4.1B Q4 2025 Q1 2026: $3.0B $3.0B Q1 2026 Q2 2026: $3.6B Q2 2026

Holdings 235 stocks · $3.0B
TVTX Travere Therapeutics Inc. 4.81% 4,897,417 $145.5M Add +30.1%
PTCT PTC Therapeutics Inc. 4.67% 2,074,449 $141.3M Reduce -26.0%
MDGL Madrigal Pharmaceuticals Inc. 4.57% 264,583 $138.5M Reduce -0.4%
SUPN Supernus Pharmaceuticals Inc. 3.24% 1,895,347 $98.0M Reduce -31.4%
NBIX Neurocrine Biosciences Inc. 3.15% 724,000 $95.4M Reduce -11.7%
AGIO Agios Pharmaceuticals Inc. 3.03% 2,716,000 $91.9M Reduce -10.5%
IMVT Immunovant Inc. 2.92% 3,564,916 $88.6M Reduce -38.0%
FRPT Freshpet Inc. 2.13% 1,093,307 $64.5M Reduce -15.6%
INCY Incyte Corp. 2.04% 656,817 $61.8M Reduce -40.2%
DYN Dyne Therapeutics Inc. 1.90% 3,175,110 $57.6M Reduce -2.3%
AMZN Amazon.com Inc. 1.80% 262,137 $54.6M Reduce -28.7%
IRWD Ironwood Pharmaceuticals Inc. 1.74% 15,028,000 $52.7M Reduce -6.2%
CYTK Cytokinetics Inc. 1.66% 764,538 $50.4M Reduce -23.0%
HRMY Harmony Biosciences Holdings 1.50% 1,624,000 $45.5M Add +224.8%
TMO Thermo Fisher Scientific Inc. 1.49% 91,491 $45.0M Add +45.6%
NKTR Nektar Therapeutics 1.37% 578,000 $41.6M Reduce -3.0%
UNH Unitedhealth Group Inc. 1.32% 148,000 $40.0M New
UBER Uber Technologies Inc. 1.23% 518,760 $37.3M Add +83.5%
IMCR Immunocore Holdings PLC-ADR 1.18% 1,188,000 $35.8M Add +8.2%
XRAY Dentsply Sirona Inc. 1.15% 3,000,000 $34.8M Reduce -58.9%
RIGL Rigel Pharmaceuticals Inc. 1.14% 1,280,000 $34.6M Add +53.1%
IRON Disc Medicine Inc. 1.13% 536,000 $34.3M Add +7.3%
GOOGL Alphabet Inc. Class A 1.13% 118,514 $34.1M Reduce -39.7%
MLYS Mineralys Therapeutics Inc. 1.05% 1,176,000 $31.9M Add +74.0%
HUBS HubSpot Inc. 1.04% 128,583 $31.4M Add +89.1%
AXGN Axogen Inc. 1.02% 936,000 $31.0M No change
OFIX Orthofix Medical Inc. 1.02% 2,700,000 $31.0M Add +2.0%
KURA Kura Oncology Inc. 1.00% 3,736,000 $30.4M Reduce -24.3%
AVNS Avanos Medical Inc. 0.93% 2,000,000 $28.0M Reduce -37.5%
REGN Regeneron Pharmaceuticals 0.92% 36,126 $27.9M Reduce -57.0%
ALGN Align Technology Inc. 0.89% 157,959 $27.1M Add +107.6%
MDB Mongodb Inc. 0.87% 107,296 $26.3M Add +118.3%
BABA Alibaba Group Holding-SP ADR 0.85% 204,000 $25.6M Reduce -36.1%
MDLN Medline Inc. Class A 0.83% 564,857 $25.1M Add +873.6%
KALV Kalvista Pharmaceuticals Inc. 0.82% 1,236,000 $24.9M Add +54.5%
DDOG Datadog Inc. Class A 0.81% 208,564 $24.6M Reduce -14.7%
HUM Humana Inc. 0.81% 141,279 $24.5M Add +97.0%
S Sentinelone Inc. Class A 0.81% 1,897,849 $24.4M Reduce -21.6%
VSTM Verastem Inc. 0.80% 4,592,000 $24.3M Add +29.9%
FIVN FIVE9 Inc. 0.80% 1,592,000 $24.2M Reduce -20.4%
ISRG Intuitive Surgical Inc. 0.79% 52,043 $24.0M Reduce -14.8%
GRFS Grifols SA-ADR 0.79% 2,988,000 $24.0M Add +8.0%
PENN Penn Entertainment Inc. 0.78% 1,578,000 $23.7M Reduce -49.0%
SLDB Solid Biosciences Inc. 0.76% 3,200,000 $23.0M Add +22.5%
GTLB Gitlab Inc. Class A 0.74% 1,028,664 $22.3M Add +19.8%
AUTL Autolus Therapeutics PLC 0.72% 15,800,000 $21.8M Reduce -9.7%
ANGO Angiodynamics Inc. 0.70% 1,869,000 $21.3M Add +9.9%
ARVN Arvinas Inc. 0.69% 1,978,000 $21.0M Add +9.9%
TSM Taiwan Semiconductor-SP ADR 0.68% 61,254 $20.7M Add +22.5%
ANRO Alto Neuroscience Inc. 0.68% 912,000 $20.5M Reduce -40.6%
ENR Energizer Holdings Inc. 0.65% 1,200,000 $19.7M Add +15.8%
META Meta Platforms Inc. Class A 0.62% 32,594 $18.6M New
FDMT 4D Molecular Therapeutics Inc. 0.61% 2,000,000 $18.6M Add +3.3%
MSFT Microsoft Corp. 0.60% 48,860 $18.1M Reduce -58.7%
EW Edwards Lifesciences Corp. 0.59% 224,835 $18.0M Reduce -19.0%
WYNN WYNN Resorts Ltd. 0.58% 173,545 $17.6M Reduce -1.5%
MGNX Macrogenics Inc. 0.57% 6,012,000 $17.4M Reduce -4.9%
SRRK Scholar Rock Holding Corp. 0.55% 336,959 $16.6M Add +68.5%
BCYC Bicycle Therapeutics PLC-ADR 0.52% 3,398,000 $15.8M Add +5.0%
CENTA Central Garden and Pet Co. Class A 0.51% 478,000 $15.5M New
LEN Lennar Corp. Class A 0.51% 177,013 $15.4M Add +17.0%
TOST Toast Inc. Class A 0.51% 577,471 $15.3M Add +153.6%
SNY Sanofi-ADR 0.48% 300,000 $14.5M Reduce -55.6%
BILL Bill Holdings Inc. 0.47% 374,908 $14.4M Add +38.1%
PATH Uipath Inc. Class A 0.47% 1,284,720 $14.3M Reduce -15.7%
VYGR Voyager Therapeutics Inc. 0.45% 3,500,000 $13.5M Reduce -12.5%
GSK GSK PLC-Spon ADR 0.43% 236,000 $13.0M Reduce -76.4%
TER Teradyne Inc. 0.43% 43,932 $13.0M Add +55.2%
CROX Crocs Inc. 0.42% 154,593 $12.8M Reduce -18.8%
NKE Nike Inc. Class B 0.41% 236,540 $12.5M Reduce -40.1%
BMY Bristol-Myers Squibb Co. 0.41% 205,024 $12.4M Reduce -45.0%
VERA Vera Therapeutics Inc. 0.40% 298,164 $12.0M Reduce -54.4%
BBOT Bridgebio Oncology Therapeut 0.39% 1,328,000 $11.9M Add +32.8%
CPRI Capri Holdings Ltd. 0.38% 658,000 $11.6M New
NBIS Nebius Group NV 0.37% 108,000 $11.2M Reduce -59.6%
XERS Xeris Biopharma Holdings Inc. 0.37% 1,909,838 $11.1M New
ESPR Esperion Therapeutics Inc. 0.36% 3,930,125 $10.8M New
IQV Iqvia Holdings Inc. 0.34% 60,884 $10.4M New
ROST Ross Stores Inc. 0.34% 47,908 $10.4M Reduce -56.9%
NVDA Nvidia Corp. 0.34% 59,269 $10.3M Reduce -7.3%
SGMOQ Sangamo Therapeutics Inc. 0.33% 40,400,067 $10.0M New
INTC Intel Corp. 0.33% 223,995 $9.9M Add +82.2%
APP AppLovin Corp. Class A 0.32% 24,422 $9.7M Add +9.7%
WDAY Workday Inc. Class A 0.32% 73,995 $9.6M Reduce -21.2%
RDDT Reddit Inc. Class A 0.31% 70,000 $9.4M Reduce -8.6%
NPCE Neuropace Inc. 0.30% 692,000 $9.1M Reduce -12.6%
ZURA Zura Bio Ltd. 0.30% 1,507,000 $9.0M Reduce -3.4%
PEGA Pegasystems Inc. 0.30% 210,429 $9.0M Add +59.4%
GNRC Generac Holdings Inc. 0.29% 44,902 $8.8M New
TMCI Treace Medical Concepts Inc. 0.28% 6,364,000 $8.5M No change
GEHC GE Healthcare Technology 0.28% 118,289 $8.4M Reduce -85.1%
MU Micron Technology Inc. 0.26% 23,293 $7.9M New
TENX Tenax Therapeutics Inc. 0.25% 478,827 $7.7M New
NUVB Nuvation Bio Inc. 0.25% 1,736,000 $7.4M Add +37.4%
INGN Inogen Inc. 0.24% 1,200,000 $7.4M Reduce -5.1%
ORLY O'reilly Automotive Inc. 0.24% 78,103 $7.2M Reduce -14.3%
KYMR Kymera Therapeutics Inc. 0.23% 83,876 $7.0M Add +3.3%
DWTX Dogwood Therapeutics Inc. 0.23% 3,280,000 $6.9M New
RH RH 0.22% 48,000 $6.7M Reduce -58.3%
NVST Envista Holdings Corp. 0.22% 264,008 $6.7M New
ICLR Icon PLC 0.22% 60,268 $6.7M New
ULTA Ulta Beauty Inc. 0.22% 12,736 $6.7M Add +86.4%
DVA Davita Inc. 0.22% 42,978 $6.6M New
BE Bloom Energy Corp. Class A 0.21% 47,737 $6.5M Add +987.2%
BL Blackline Inc. 0.21% 168,000 $6.2M New
SYRE Spyre Therapeutics Inc. 0.20% 120,931 $6.1M Reduce -38.4%
RBLX Roblox Corp. Class A 0.19% 104,292 $5.9M Add +154.1%
EOLS Evolus Inc. 0.19% 1,396,000 $5.7M Add +43.0%
CTOR Citius Oncology Inc. 0.19% 9,188,855 $5.7M Add +64.5%
AMAT Applied Materials Inc. 0.19% 16,503 $5.6M New
LRCX Lam Research Corp. 0.17% 23,952 $5.1M New
PONY Pony AI Inc. 0.17% 536,000 $5.1M Add +14.5%
LCTX Lineage Cell Therapeutics Inc. 0.17% 3,182,799 $5.0M New
AS Amer Sports Inc. 0.16% 148,770 $4.9M Reduce -19.7%
WDC Western Digital Corp. 0.16% 17,885 $4.8M New
SMTC Semtech Corp. 0.16% 61,891 $4.8M New
STX Seagate Technology Holdings 0.15% 11,683 $4.6M Reduce -40.4%
ESLA Estrella Immunopharma Inc. 0.14% 4,099,000 $4.3M New
NTLA Intellia Therapeutics Inc. 0.14% 336,000 $4.3M Reduce -70.9%
PRTA Prothena Corp. PLC 0.14% 439,411 $4.3M Reduce -70.7%
LITE Lumentum Holdings Inc. 0.14% 6,065 $4.3M New
GLW Corning Inc. 0.14% 30,757 $4.2M Add +1127.8%
KEYS Keysight Technologies Inc. 0.14% 14,717 $4.2M New
LEVI Levi Strauss & Co. Class A 0.13% 218,000 $4.0M Add +17.8%
MTSI Macom Technology Solutions H 0.12% 16,808 $3.7M New
SNDK Sandisk Corp. 0.12% 5,850 $3.7M Add +486.8%
MCD McDonald's Corp. 0.12% 11,527 $3.6M Reduce -31.9%
CRBP Corbus Pharmaceuticals Holdi 0.11% 364,000 $3.4M Reduce -32.1%
ELF Elf Beauty Inc. 0.11% 55,426 $3.4M Reduce -91.6%
BBY Best Buy Co. Inc. 0.11% 51,631 $3.3M Reduce -46.5%
FIX Comfort Systems USA Inc. 0.11% 2,356 $3.2M Add +652.7%
AMD Advanced Micro Devices 0.10% 15,600 $3.2M Reduce -66.6%
CIEN Ciena Corp. 0.10% 8,140 $3.2M Reduce -21.7%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.10% 2,300 $3.0M New
ONTO Onto Innovation Inc. 0.09% 13,921 $2.9M New
VRCA Verrica Pharmaceuticals Inc. 0.09% 518,181 $2.7M Reduce -53.7%
KYNB Kyntra Bio Inc. 0.09% 400,000 $2.7M No change
LOW Lowe's Cos Inc. 0.09% 11,117 $2.6M Reduce -33.8%
TSEM Tower Semiconductor Ltd. 0.09% 14,880 $2.6M Reduce -36.7%
VSXY Victoria's Secret & Co. 0.09% 55,693 $2.6M Add +4.5%
BTAIQ Bioxcel Therapeutics Inc. 0.08% 1,910,076 $2.6M New
H Hyatt Hotels Corp. Class A 0.08% 17,175 $2.5M Reduce -37.6%
NTRP Nexttrip Inc. 0.07% 675,117 $2.2M Reduce -32.5%
ARAY Accuray Inc. 0.07% 5,636,000 $2.2M Add +25.2%
CNDT Conduent Inc. 0.07% 1,636,000 $2.1M Add +3.7%
WWW Wolverine World Wide Inc. 0.07% 125,000 $2.0M Reduce -56.1%
REED Reed's Inc. 0.07% 548,995 $2.0M Reduce -11.4%
SCLX Scilex Holding Co. 0.07% 297,706 $2.0M Reduce -37.5%
ABNB Airbnb Inc. Class A 0.06% 15,190 $1.9M Reduce -26.6%
QTEX Qtrex Quantum Ltd. filed as INSPIRA TECHNOLOGIES OXY BHN 0.06% 4,139,086 $1.8M New
PRSU Pursuit Attractions and Hosp 0.06% 47,500 $1.7M No change
VVOS Vivos Therapeutics Inc. 0.04% 1,115,859 $1.3M New
GEV GE Vernova Inc. 0.04% 1,461 $1.3M New
IMNN Imunon Inc. 0.03% 348,330 $1.0M Add +30.5%
TRX TRX Gold Corp. 0.03% 630,174 $945K New
VSEE HEALTH INC 0.03% 3,498,227 $875K New
OTLK Outlook Therapeutics Inc. 0.03% 4,168,000 $858K New
ICCM Icecure Medical Ltd. 0.03% 2,712,000 $816K New
XLE SS Energy Select Sector 0.03% 13,114 $803K New
ANF Abercrombie & Fitch Co. Class A 0.03% 8,501 $777K Add +27.9%
KVUE Kenvue Inc. 0.02% 29,604 $510K Reduce -99.3%
XOP SS SPDR S&P Og Exp & Prod 0.02% 2,733 $497K New
MS Morgan Stanley 0.02% 3,017 $497K New
RITM Rithm Capital Corp. 0.02% 48,987 $464K New
CACC Credit Acceptance Corp. 0.01% 1,061 $449K New
OWL Blue Owl Capital Inc. 0.01% 48,021 $438K New
INBS Intelligent Bio Solutions Inc. 0.01% 130,000 $435K New
RVPH Reviva Pharmaceuticals Holdi 0.01% 592,079 $432K New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.01% 28,475 $409K New
REVB Revelation Biosciences Inc. 0.01% 323,241 $388K New
GOVX Geovax Labs Inc. 0.01% 269,253 $372K New
DOW Dow Inc. filed as DOW HLDGS INC 0.01% 8,702 $362K Reduce -32.1%
FSLY Fastly Inc. Class A 0.01% 12,432 $361K New
AGNC AGNC Investment Corp. 0.01% 35,740 $358K New
EVGN Evogene Ltd. 0.01% 456,587 $352K New
WEARABLE DEVICES LTD 0.01% 230,752 $332K Add +84.0%
ADI Analog Devices Inc. 0.01% 1,033 $329K New
MHK Mohawk Industries Inc. 0.01% 3,148 $310K Add +15.1%
MMSI Merit Medical Systems Inc. 0.01% 4,448 $307K Reduce -7.3%
FIGR Figure Technology Solut Class A 0.01% 8,952 $304K New
DY Dycom Industries Inc. 0.01% 865 $293K New
MASI Masimo Corp. 0.01% 1,642 $292K New
TEX Terex Corp. 0.01% 4,934 $292K New
SCHW Schwab (charles) Corp. 0.01% 3,025 $284K New
URI United Rentals Inc. 0.01% 385 $280K New
XLU St Sr Utl SL SE SPDR ETF-Usd 0.01% 6,077 $279K New
AXTI Axt Inc. 0.01% 4,889 $279K New
MKL Markel Group Inc. 0.01% 145 $278K New
LM FDG AMER INC 0.01% 1,097,153 $274K Add +108.0%
OTIS Otis Worldwide Corp. 0.01% 3,535 $272K New
QGEN Qiagen N.V. 0.01% 6,792 $272K New
CLMT Calumet Inc. 0.01% 7,335 $263K New
QXO Qxo Inc. 0.01% 13,544 $263K New
WKSP Worksport Ltd. 0.01% 250,195 $263K Reduce -74.1%
AAOI Applied Optoelectronics Inc. 0.01% 3,080 $261K New
CLF Cleveland-Cliffs Inc. 0.01% 30,295 $256K New
FFBC First Financial Bancorp filed as 1ST FINL BANCORP 0.01% 9,000 $251K New
HWM Howmet Aerospace Inc. 0.01% 1,085 $250K New
RDN Radian Group Inc. 0.01% 7,523 $249K New
NUWE Nuwellis Inc. 0.01% 236,200 $248K New
DDS Dillards Inc. Class A 0.01% 427 $244K New
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.01% 2,351 $240K New
RKLB Rocket Lab Corp. 0.01% 3,571 $229K New
ADC Agree Realty Corp. 0.01% 3,025 $228K Reduce -78.4%
FLY Firefly Aerospace Inc. 0.01% 7,881 $224K New
MORN Morningstar Inc. 0.01% 1,327 $224K New
KMB Kimberly-Clark Corp. 0.01% 2,310 $223K New
F Ford Motor Co. filed as FORD MTR CO 0.01% 19,253 $222K New
BROS Dutch Bros Inc. Class A 0.01% 4,378 $222K New
CAG Conagra Brands Inc. 0.01% 14,010 $220K New
RKDA Arcadia Biosciences Inc. 0.01% 159,390 $220K New
IPGP Ipg Photonics Corp. 0.01% 1,835 $210K New
CBSH Commerce Bancshares Inc. 0.01% 4,269 $210K Reduce -25.2%
CLDI Calidi Biotherapeutics Inc. 0.01% 879,000 $210K New
PFSI Pennymac Financial Services 0.01% 2,306 $202K New
AKTX Akari Therapeutics PLC-ADR 0.01% 38,922 $200K New
IVF Invo Fertility Inc. 0.01% 71,866 $195K New
VRAX Virax Biolabs Group Ltd. 0.01% 878,803 $193K New
BBWI Bath & Body Works Inc. 0.01% 10,032 $187K New
GTX Garrett Motion Inc. 0.01% 10,146 $184K New
ZETA Zeta Global Holdings Corp. Class A 0.01% 10,997 $175K Reduce -97.4%
USAR USA Rare Earth Inc. 0.01% 10,322 $156K New
BGC BGC Group Inc. Class A 0.01% 15,532 $152K New
RIVN Rivian Automotive Inc. Class A 0.01% 10,007 $151K New
TU Telus Corp. 0.00% 11,646 $149K New
CAL Caleres Inc. 0.00% 11,847 $125K New
SFIX Stitch Fix Inc. Class A 0.00% 37,522 $124K New
FWRG First Watch Restaurant Group 0.00% 11,234 $118K New
AAL American Airlines Group Inc. 0.00% 10,335 $111K Reduce -68.2%
PDSB PDS Biotechnology Corp. 0.00% 173,605 $105K Reduce -93.9%
PTLO Portillo's Inc. Class A 0.00% 16,719 $88K New
DBI Designer Brands Inc. Class A 0.00% 12,082 $69K New
HNST The Honest Co. Inc. 0.00% 21,242 $62K New
BDRX Biodexa Pharmaceuticals PLC 0.00% 97,521 $60K Reduce -2.5%
CLGN Collplant Biotechnologies LT 0.00% 64,000 $34K New

Options reported separately and not counted above: SPY puts ($1.4B), IWM puts ($868.0M), CYTK calls ($112.0M), AGIO calls ($108.3M), IMVT calls ($47.2M), PTCT calls ($26.6M), S calls ($21.3M), FIVN calls ($19.0M), PENN calls ($13.5M), CYTK puts ($13.2M).

Other holdings (16): bonds, preferreds, convertibles and warrants · $1.4M (not counted above)
SecurityClassShares / PrincipalValueChange
BCTXL Briacell Therapeutics Corp. *W EXP 01/15/203 536,600$553KNew
MTEKW Maris - Tech Ltd. -23 *W EXP 02/04/202 1,261,058$190KNo change
BIVIW Biovie Inc. -30 *W EXP 08/08/203 500,000$155KNo change
BESS.WS Bimergen Energy Corp. *W EXP 12/12/203 187,500$134KNew
ERNAW Ernexa Therapeutics Inc. - 31 *W EXP 02/04/203 4,000,000$112KNew
BEATW Heartbeam Inc.-CW26 *W EXP 10/31/202 500,000$60KNo change
MDCXW Medicus Pharma Ltd. -29 *W EXP 11/15/202 60,600$58KNo change
NXGLW Nexgel Inc. -CW26 *W EXP 12/27/202 550,000$33KNo change
LCFYW Locafy Ltd.-CW27 *W EXP 03/29/202 12,121$32KNo change
ONFOW Onfolio Holdings Inc. -27 *W EXP 01/02/202 400,000$24KNo change
SWAGW Stran & Co. -CW26 *W EXP 99/99/999 545,000$21KNo change
FGIWW Fgi Industries Ltd. -23 *W EXP 99/99/999 186,666$6KNo change
SQFTW Presidio Property TRST -CW27 *W EXP 01/24/202 200,000$4KNo change
IVDAW Iveda Solutions Inc. -CW27 *W EXP 04/01/202 18,125$745No change
KTTAW Pasithea Therapeutics -CW26 *W EXP 08/12/202 50,000$565No change
TNONW Tenon Medical Inc.-28 *W EXP 06/16/202 22,250$178No change

Total filed on the 13F, all lines: $3.0B.

Portfolio Sells Q4 2025 → Q1 2026
KVUE Kenvue Inc. Reduce -99.3% 0.02% −1.67
GEHC GE Healthcare Technology Reduce -85.1% 0.28% −1.31
ARGX Argenx SE - ADR Sold out 0.00% −1.20
SBUX Starbucks Corp. Sold out 0.00% −1.14
ELF Elf Beauty Inc. Reduce -91.6% 0.11% −1.12
XRAY Dentsply Sirona Inc. Reduce -58.9% 1.15% −0.90
MSFT Microsoft Corp. Reduce -58.7% 0.60% −0.81
GSK GSK PLC-Spon ADR Reduce -76.4% 0.43% −0.77
REGN Regeneron Pharmaceuticals Reduce -57.0% 0.92% −0.67
IMVT Immunovant Inc. Reduce -38.0% 2.92% −0.66
MDT Medtronic PLC Sold out 0.00% −0.64
INCY Incyte Corp. Reduce -40.2% 2.04% −0.62
DHR Danaher Corp. Sold out 0.00% −0.60
CVS CVS Health Corp. Sold out 0.00% −0.58
PTCT PTC Therapeutics Inc. Reduce -26.0% 4.67% −0.55
DXCM Dexcom Inc. Sold out 0.00% −0.53
LYV Live Nation Entertainment Inc. Sold out 0.00% −0.42
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.42
VERA Vera Therapeutics Inc. Reduce -54.4% 0.40% −0.42
KLAR Klarna Group PLC Sold out 0.00% −0.39
GOOGL Alphabet Inc. Class A Reduce -39.7% 1.13% −0.38
DT Dynatrace Inc. Sold out 0.00% −0.36
PENN Penn Entertainment Inc. Reduce -49.0% 0.78% −0.34
SNY Sanofi-ADR Reduce -55.6% 0.48% −0.33
CNTA Centessa Pharmaceuticals Ltd. Sold out 0.00% −0.31
BABA Alibaba Group Holding-SP ADR Reduce -36.1% 0.85% −0.30
RH RH Reduce -58.3% 0.22% −0.28
AMZN Amazon.com Inc. Reduce -28.7% 1.80% −0.28
BSX Boston Scientific Corp. Sold out 0.00% −0.27
SMPL The Simply Good Foods Co. Sold out 0.00% −0.26
KURA Kura Oncology Inc. Reduce -24.3% 1.00% −0.25
COR Cencora Inc. Sold out 0.00% −0.23
MCK McKesson Corp. Sold out 0.00% −0.23
PRTA Prothena Corp. PLC Reduce -70.7% 0.14% −0.21
ZETA Zeta Global Holdings Corp. Class A Reduce -97.4% 0.01% −0.21
NKE Nike Inc. Class B Reduce -40.1% 0.41% −0.20
FLUT Flutter Entertainment PLC-Di Sold out 0.00% −0.19
FIVN FIVE9 Inc. Reduce -20.4% 0.80% −0.19
NBIS Nebius Group NV Reduce -59.6% 0.37% −0.18
WDAY Workday Inc. Class A Reduce -21.2% 0.32% −0.18
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −0.17
DKS Dick's Sporting Goods Inc. Sold out 0.00% −0.17
OS Onestream Inc. Sold out 0.00% −0.15
ROST Ross Stores Inc. Reduce -56.9% 0.34% −0.15
PATH Uipath Inc. Class A Reduce -15.7% 0.47% −0.14
AMD Advanced Micro Devices Reduce -66.6% 0.10% −0.14
VRCA Verrica Pharmaceuticals Inc. Reduce -53.7% 0.09% −0.14
AUTL Autolus Therapeutics PLC Reduce -9.7% 0.72% −0.13
SUPN Supernus Pharmaceuticals Inc. Reduce -31.4% 3.24% −0.13
RDDT Reddit Inc. Class A Reduce -8.6% 0.31% −0.12

Portfolio Buys Q4 2025 → Q1 2026
UNH Unitedhealth Group Inc. New 1.32% +1.32
TVTX Travere Therapeutics Inc. Add +30.1% 4.81% +1.28
HRMY Harmony Biosciences Holdings Add +224.8% 1.50% +1.04
MDLN Medline Inc. Class A Add +873.6% 0.83% +0.77
UBER Uber Technologies Inc. Add +83.5% 1.23% +0.67
META Meta Platforms Inc. Class A New 0.62% +0.62
ALGN Align Technology Inc. Add +107.6% 0.89% +0.60
TMO Thermo Fisher Scientific Inc. Add +45.6% 1.49% +0.59
CENTA Central Garden and Pet Co. Class A New 0.51% +0.51
KALV Kalvista Pharmaceuticals Inc. Add +54.5% 0.82% +0.51
MLYS Mineralys Therapeutics Inc. Add +74.0% 1.05% +0.45
SLDB Solid Biosciences Inc. Add +22.5% 0.76% +0.40
CPRI Capri Holdings Ltd. New 0.38% +0.38
HUBS HubSpot Inc. Add +89.1% 1.04% +0.37
XERS Xeris Biopharma Holdings Inc. New 0.37% +0.37
MDB Mongodb Inc. Add +118.3% 0.87% +0.36
HUM Humana Inc. Add +97.0% 0.81% +0.36
ESPR Esperion Therapeutics Inc. New 0.36% +0.36
IQV Iqvia Holdings Inc. New 0.34% +0.34
SRRK Scholar Rock Holding Corp. Add +68.5% 0.55% +0.33
SGMOQ Sangamo Therapeutics Inc. New 0.33% +0.33
TSM Taiwan Semiconductor-SP ADR Add +22.5% 0.68% +0.31
TOST Toast Inc. Class A Add +153.6% 0.51% +0.31
TER Teradyne Inc. Add +55.2% 0.43% +0.30
GNRC Generac Holdings Inc. New 0.29% +0.29
RIGL Rigel Pharmaceuticals Inc. Add +53.1% 1.14% +0.27
MU Micron Technology Inc. New 0.26% +0.26
FDMT 4D Molecular Therapeutics Inc. Add +3.3% 0.61% +0.26
TENX Tenax Therapeutics Inc. New 0.25% +0.25
IMCR Immunocore Holdings PLC-ADR Add +8.2% 1.18% +0.25
DWTX Dogwood Therapeutics Inc. New 0.23% +0.23
NVST Envista Holdings Corp. New 0.22% +0.22
ICLR Icon PLC New 0.22% +0.22
DVA Davita Inc. New 0.22% +0.22
INTC Intel Corp. Add +82.2% 0.33% +0.22
BL Blackline Inc. New 0.21% +0.21
BE Bloom Energy Corp. Class A Add +987.2% 0.21% +0.20
AMAT Applied Materials Inc. New 0.19% +0.19
ARVN Arvinas Inc. Add +9.9% 0.69% +0.17
LRCX Lam Research Corp. New 0.17% +0.17
ANGO Angiodynamics Inc. Add +9.9% 0.70% +0.17
LCTX Lineage Cell Therapeutics Inc. New 0.17% +0.17
WDC Western Digital Corp. New 0.16% +0.16
IRON Disc Medicine Inc. Add +7.3% 1.13% +0.16
SMTC Semtech Corp. New 0.16% +0.16
GRFS Grifols SA-ADR Add +8.0% 0.79% +0.16
ENR Energizer Holdings Inc. Add +15.8% 0.65% +0.15
ESLA Estrella Immunopharma Inc. New 0.14% +0.14
LITE Lumentum Holdings Inc. New 0.14% +0.14
KEYS Keysight Technologies Inc. New 0.14% +0.14

Options Activity Q4 2025 → Q1 2026
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -30.0% 2,100,000 $1.4B
IWM iShares Russell 2000 ETF put Reduce -56.8% 3,500,000 $868.0M
CYTK Cytokinetics Inc. call Add +13.3% 1,700,000 $112.0M
AGIO Agios Pharmaceuticals Inc. call Add +6.7% 3,200,000 $108.3M
IMVT Immunovant Inc. call Add +153.3% 1,900,000 $47.2M
PTCT PTC Therapeutics Inc. call New 390,000 $26.6M
S Sentinelone Inc. Class A call Reduce -48.4% 1,650,000 $21.3M
FIVN FIVE9 Inc. call Reduce -30.6% 1,250,000 $19.0M
PENN Penn Entertainment Inc. call New 900,000 $13.5M
CYTK Cytokinetics Inc. put New 200,000 $13.2M

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

Notes & Other Activity Q4 2025 → Q1 2026
GROY.WS Gold Royalty Corp. -29 *W EXP 05/31/202 Sold out 2,200,000 $4.4Mbefore exit
MOBBW Mobilicom Ltd. -27 *W EXP 08/31/202 Sold out 242,100 $780Kbefore exit
BCTXL Briacell Therapeutics Corp. *W EXP 01/15/203 New 536,600 $553K
BESS.WS Bimergen Energy Corp. *W EXP 12/12/203 New 187,500 $134K
ERNAW Ernexa Therapeutics Inc. - 31 *W EXP 02/04/203 New 4,000,000 $112K
RVSNW Rail Vision Ltd.-CW27 *W EXP 03/27/202 Sold out 136,187 $10Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 305$3.6BMDGL, SUPN, CYTK, INCY, NBIX
Q1 2026 235$3.0BTVTX, PTCT, MDGL, SUPN, NBIX
Q4 2025 341$4.1BPTCT, MDGL, IMVT, TVTX, SUPN
Q3 2025 305$3.2BPTCT, TVTX, SUPN, INCY, NBIX
Q2 2025 179$2.6BPTCT, SUPN, TVTX, INCY, NBIX
Q1 2025 199$3.7BPTCT, SUPN, TVTX, NBIX, INCY
Q4 2024 194$4.3BPTCT, SUPN, TVTX, INCY, NBIX
Q3 2024 228$3.8BPTCT, SUPN, INCY, TVTX, IMVT
Q2 2024 221$3.8BPTCT, SUPN, NBIX, CYTK, INCY
Q1 2024 300$3.8BPTCT, NBIX, INCY, SUPN, CYTK