Avidity Partners Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Avidity Partners Management LP reported 39 stock positions worth $346.7 million. Its top holding was Dianthus Therapeutics (DNTH) at 25.0% of the portfolio, followed by CG Oncology (CGON, 17.6%) and Jade Biosciences (JBIO, 6.2%). Compared with Q3 2025, it opened 11 new positions, sold out of 15, added to 5 and reduced 19. The biggest buy was Jade Biosciences (JBIO, shares +24%) and the biggest sale Dianthus Therapeutics (DNTH, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001791827
- Portfolio Value
- $346.7M (Q4 2025)
- SEC Filing
- 0001791827-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 39 stocks · $346.7M
| DNTH Dianthus Therapeutics Inc. | 25.01% | 2,104,184 | $86.7M | Reduce -34.3% |
| CGON CG Oncology Inc. | 17.64% | 1,472,699 | $61.1M | Reduce -8.0% |
| JBIO Jade Biosciences Inc. | 6.23% | 1,400,708 | $21.6M | Add +24.3% |
| ORKA Oruka Therapeutics Inc. | 5.77% | 660,424 | $20.0M | No change |
| TEVA Teva Pharmaceutical-SP ADR | 3.76% | 417,300 | $13.0M | Reduce -18.2% |
| BSX Boston Scientific Corp. | 3.15% | 114,500 | $10.9M | Reduce -30.3% |
| MDT Medtronic PLC | 2.98% | 107,600 | $10.3M | Reduce -43.5% |
| CATX Perspective Therapeutics Inc. | 2.55% | 3,210,733 | $8.8M | Add +7.2% |
| ALNY Alnylam Pharmaceuticals Inc. | 2.41% | 21,000 | $8.4M | New |
| RGEN Repligen Corp. | 2.38% | 50,300 | $8.2M | Add +115.9% |
| CNTX Context Therapeutics Inc. | 2.33% | 5,504,855 | $8.1M | Reduce -38.7% |
| MCK McKesson Corp. | 2.25% | 9,520 | $7.8M | Add +64.1% |
| ICLR Icon PLC | 1.74% | 33,100 | $6.0M | New |
| A Agilent Technologies Inc. | 1.63% | 41,500 | $5.6M | New |
| PFE Pfizer Inc. | 1.46% | 203,600 | $5.1M | Reduce -44.4% |
| CNC Centene Corp. | 1.42% | 119,400 | $4.9M | New |
| KVUE Kenvue Inc. | 1.16% | 232,800 | $4.0M | Reduce -12.2% |
| DHR Danaher Corp. | 1.12% | 17,000 | $3.9M | Reduce -68.9% |
| TMO Thermo Fisher Scientific Inc. | 1.12% | 6,700 | $3.9M | Reduce -64.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.99% | 67,300 | $3.4M | New |
| PHAT Phathom Pharmaceuticals Inc. | 0.99% | 206,076 | $3.4M | Reduce -32.6% |
| EHC Encompass Health Corp. | 0.97% | 31,600 | $3.4M | Reduce -24.6% |
| CI The Cigna Group | 0.92% | 11,600 | $3.2M | Reduce -30.1% |
| COR Cencora Inc. | 0.92% | 9,400 | $3.2M | Reduce -50.5% |
| INSM Insmed Inc. | 0.89% | 17,700 | $3.1M | Add +52.6% |
| WAT Waters Corp. | 0.89% | 8,100 | $3.1M | New |
| ACAD Acadia Pharmaceuticals Inc. | 0.82% | 106,900 | $2.9M | Reduce -25.8% |
| GMAB Genmab A/S -SP ADR | 0.82% | 92,000 | $2.8M | Reduce -62.9% |
| NTRA Natera Inc. | 0.78% | 11,800 | $2.7M | Reduce -83.2% |
| IMUX Immunic Inc. | 0.72% | 4,699,411 | $2.5M | No change |
| ACHC Acadia Healthcare Co. Inc. | 0.69% | 169,000 | $2.4M | New |
| ITGR Integer Holdings Corp. | 0.67% | 29,800 | $2.3M | New |
| ELVN Enliven Therapeutics Inc. | 0.62% | 140,300 | $2.2M | No change |
| PVLA Palvella Therapeutics Inc. | 0.58% | 19,300 | $2.0M | New |
| HQY Healthequity Inc. | 0.45% | 16,900 | $1.5M | Reduce -33.2% |
| SCYX Scynexis Inc. | 0.38% | 2,081,660 | $1.3M | Reduce -37.9% |
| IQV Iqvia Holdings Inc. | 0.29% | 4,400 | $992K | New |
| KPTI Karyopharm Therapeutics Inc. | 0.29% | 134,566 | $990K | No change |
| CORT Corcept Therapeutics Inc. | 0.22% | 22,000 | $766K | New |
Portfolio Sells Q3 2025 → Q4 2025
| DNTH Dianthus Therapeutics Inc. | Reduce -34.3% | 25.01% | −3.68 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −2.64 |
| NTRA Natera Inc. | Reduce -83.2% | 0.78% | −1.80 |
| MTSR Metsera Inc. | Sold out | 0.00% | −1.67 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −1.40 |
| ARVN Arvinas Inc. | Sold out | 0.00% | −1.35 |
| DHR Danaher Corp. | Reduce -68.9% | 1.12% | −1.35 |
| MDT Medtronic PLC | Reduce -43.5% | 2.98% | −1.15 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −1.13 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −1.04 |
| CARL Carlsmed Inc. | Sold out | 0.00% | −0.98 |
| TMO Thermo Fisher Scientific Inc. | Reduce -64.5% | 1.12% | −0.97 |
| ARQT Arcutis Biotherapeutics Inc. | Sold out | 0.00% | −0.92 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.92 |
| GMAB Genmab A/S -SP ADR | Reduce -62.9% | 0.82% | −0.91 |
| PFE Pfizer Inc. | Reduce -44.4% | 1.46% | −0.66 |
| ASND Ascendis Pharma A/S | Sold out | 0.00% | −0.66 |
| BEAM Beam Therapeutics Inc. | Sold out | 0.00% | −0.62 |
| BSX Boston Scientific Corp. | Reduce -30.3% | 3.15% | −0.50 |
| WVE Wave Life Sciences Ltd. | Sold out | 0.00% | −0.50 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.49 |
| AKRO Akero Therapeutics Inc. | Sold out | 0.00% | −0.44 |
| COR Cencora Inc. | Reduce -50.5% | 0.92% | −0.44 |
| EHC Encompass Health Corp. | Reduce -24.6% | 0.97% | −0.24 |
| SCYX Scynexis Inc. | Reduce -37.9% | 0.38% | −0.21 |
| CI The Cigna Group | Reduce -30.1% | 0.92% | −0.17 |
| IMRX Immuneering Corp. Class A | Sold out | 0.00% | −0.14 |
| HQY Healthequity Inc. | Reduce -33.2% | 0.45% | −0.10 |
| ACAD Acadia Pharmaceuticals Inc. | Reduce -25.8% | 0.82% | +0.12 |
| PHAT Phathom Pharmaceuticals Inc. | Reduce -32.6% | 0.99% | +0.17 |
| KVUE Kenvue Inc. | Reduce -12.2% | 1.16% | +0.18 |
| CNTX Context Therapeutics Inc. | Reduce -38.7% | 2.33% | +0.35 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -18.2% | 3.76% | +1.41 |
| CGON CG Oncology Inc. | Reduce -8.0% | 17.64% | +2.96 |
Portfolio Buys Q3 2025 → Q4 2025
| JBIO Jade Biosciences Inc. | Add +24.3% | 6.23% | +4.02 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 2.41% | +2.41 |
| ICLR Icon PLC | New | 1.74% | +1.74 |
| RGEN Repligen Corp. | Add +115.9% | 2.38% | +1.67 |
| A Agilent Technologies Inc. | New | 1.63% | +1.63 |
| CNC Centene Corp. | New | 1.42% | +1.42 |
| MCK McKesson Corp. | Add +64.1% | 2.25% | +1.23 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.99% | +0.99 |
| WAT Waters Corp. | New | 0.89% | +0.89 |
| ACHC Acadia Healthcare Co. Inc. | New | 0.69% | +0.69 |
| ITGR Integer Holdings Corp. | New | 0.67% | +0.67 |
| PVLA Palvella Therapeutics Inc. | New | 0.58% | +0.58 |
| INSM Insmed Inc. | Add +52.6% | 0.89% | +0.51 |
| IQV Iqvia Holdings Inc. | New | 0.29% | +0.29 |
| CORT Corcept Therapeutics Inc. | New | 0.22% | +0.22 |
| CATX Perspective Therapeutics Inc. | Add +7.2% | 2.55% | +0.21 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 45 | $624.4M | DNTH, CGON, ORKA, JBIO, ELVN |
| Q1 2026Amended | 45 | $493.8M | DNTH, CGON, ORKA, CATX, JBIO |
| Q4 2025 | 39 | $346.7M | DNTH, CGON, JBIO, ORKA, TEVA |
| Q3 2025 | 43 | $439.4M | DNTH, CGON, MDT, BSX, ORKA |
| Q2 2025 | 55 | $498.8M | CGON, BSX, NTRA, DNTH, EXAS |
| Q1 2025 | 63 | $484.9M | BSX, DNTH, UNH, CGON, HUM |
| Q4 2024 | 61 | $1.0B | DNTH, BSX, JANX, NTRA, EXAS |
| Q3 2024 | 81 | $2.0B | BSX, DNTH, ISRG, NTRA, CGON |
| Q2 2024 | 84 | $2.4B | ISRG, BSX, NTRA, ARVN, ACHC |
| Q1 2024 | 86 | $2.8B | FUSN, BSX, ARVN, ISRG, DNTH |