In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), B Group, Inc. reported 17 stock positions worth $115.1 million . Its top holding was Adma Biologics (ADMA) at 40.0% of the portfolio, followed by Insmed (INSM, 17.4% ) and Zai Lab Ltd.-ADR (ZLAB, 12.6% ). Compared with Q4 2024, it opened 2 new positions, sold out of 3, added to 11 and reduced 2. The biggest buy was Adma Biologics (ADMA, shares +1% ) and the biggest sale an exit from Invesco QQQ TR .
Location DALLAS, TX
CIK 0002043476
Portfolio Value $115.1M (Q1 2025) Holdings 17 stocks · $115.1M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 ADMA Adma Biologics Inc. 2,317,542 $46.0M Add +1.3% INSM Insmed Inc. 262,500 $20.0M Reduce -25.0% ZLAB Zai Lab Ltd.-ADR 400,000 $14.5M No change AKRO Akero Therapeutics Inc. 242,500 $9.8M Reduce -6.7% IOVA Iovance Biotherapeutics Inc. 1,500,000 $5.0M Add +51.2% CLLS Cellectis - ADR 3,256,501 $4.0M Add +5.7% AURA Aura Biosciences Inc. 472,576 $2.8M No change SGHT Sight Sciences Inc. 833,600 $2.0M Add +32.5% ASMB Assembly Biosciences Inc. 200,000 $1.9M Add +294.9% TSHA Taysha Gene Therapies Inc. 1,255,556 $1.7M Add +30.0% RARE Ultragenyx Pharmaceutical Inc. 47,500 $1.7M Add +525.3% BNTX Biontech SE-ADR 15,000 $1.4M Add +328.6% SYRE Spyre Therapeutics Inc. 70,000 $1.1M Add +40.0% APGE Apogee Therapeutics Inc. 30,000 $1.1M Add +100.0% PRAX Praxis Precision Medicines I 19,000 $720K New ETNB 89BIO Inc. 95,623 $695K New ORKA Oruka Therapeutics Inc. 58,215 $597K Add +191.1%
Options reported separately and not counted above: ULTRAGENYX PHARMACEUTICAL IN calls ($1.4M), CORVUS PHARMACEUTICALS INC puts ($286K).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ INVESCO QQQ TR Sold out 0.00% −34.37 ULTRAGENYX PHARMACEUTICAL IN Sold out 0.00% −0.76 CORVUS PHARMACEUTICALS INC Sold out 0.00% −0.33 INSM Insmed Inc. Reduce -25.0% 17.40% +2.63 AKRO Akero Therapeutics Inc. Reduce -6.7% 8.53% +4.11
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ ADMA Adma Biologics Inc. Add +1.3% 39.95% +15.97 RARE Ultragenyx Pharmaceutical Inc. Add +525.3% 1.49% +1.30 ASMB Assembly Biosciences Inc. Add +294.9% 1.66% +1.17 BNTX Biontech SE-ADR Add +328.6% 1.19% +0.94 PRAX Praxis Precision Medicines I New 0.63% +0.63 ETNB 89BIO Inc. New 0.60% +0.60 APGE Apogee Therapeutics Inc. Add +100.0% 0.97% +0.56 TSHA Taysha Gene Therapies Inc. Add +30.0% 1.52% +0.50 SGHT Sight Sciences Inc. Add +32.5% 1.74% +0.34 ORKA Oruka Therapeutics Inc. Add +191.1% 0.52% +0.28 SYRE Spyre Therapeutics Inc. Add +40.0% 0.98% +0.27 CLLS Cellectis - ADR Add +5.7% 3.51% +0.12 IOVA Iovance Biotherapeutics Inc. Add +51.2% 4.34% −0.15
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ ULTRAGENYX PHARMACEUTICAL IN call New 37,600 $1.4M CORVUS PHARMACEUTICALS INC put New 90,000 $286K
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 18 $176.2M ADMA, PALI, NRXP, FTH, TSHA Q1 2026 20 $134.9M ADMA, PALI, PRAX, CLLS, ZLAB Q4 2025 15 $134.9M ADMA, CLLS, PALI, TSHA, PRAX Q3 2025 16 $100.1M ADMA, ZLAB, AKRO, CLLS, TSHA Q2 2025 15 $115.8M ADMA, INSM, ZLAB, AKRO, CLLS Q1 2025 17 $115.1M ADMA, INSM, ZLAB, AKRO, IOVA Q4 2024 18 $163.6M INVESCO QQQ TR, ADMA, INSM, ZLAB, IOVA