BML Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 7, 2025), BML Capital Management, LLC reported 27 stock positions worth $123.6 million. Its top holding was Atea Pharmaceuticals (AVIR) at 18.4% of the portfolio, followed by Aclaris Therapeutics (ACRS, 17.6%) and Third Harmonic Bio (THRD, 10.7%). Compared with Q4 2024, it opened 6 new positions, sold out of 4, added to 8 and reduced 3. The biggest buy was a new position in Third Harmonic Bio (THRD) and the biggest sale an exit from iShares 0-3 Month Treasury B (SGOV).
- Most Recent 13F
- Q2 2026
- Location
- ZIONSVILLE, IN
- CIK
- 0001616824
- Portfolio Value
- $123.6M (Q1 2025)
- SEC Filing
- 0001754960-25-000280 ↗ filed May 7, 2025
Holdings Value
Holdings 27 stocks · $123.6M
| AVIR Atea Pharmaceuticals Inc. | 18.41% | 7,609,812 | $22.8M | Add +0.0% |
| ACRS Aclaris Therapeutics Inc. | 17.65% | 14,250,000 | $21.8M | No change |
| THRD Third Harmonic Bio Inc. | 10.74% | 3,824,417 | $13.3M | New |
| ADVM Adverum Biotechnologies Inc. | 9.70% | 2,742,317 | $12.0M | Add +20.9% |
| ANTX AN2 Therapeutics Inc. | 6.33% | 5,749,432 | $7.8M | No change |
| TIL Instil Bio Inc. | 5.85% | 416,720 | $7.2M | Add +4.2% |
| EPIX Essa Pharma Inc. | 5.40% | 4,221,546 | $6.7M | No change |
| ORMP Oramed Pharmaceuticals Inc. | 5.23% | 3,020,748 | $6.5M | Add +14.3% |
| IKENA ONCOLOGY INC | 3.84% | 3,710,803 | $4.7M | Add +3.5% |
| PMVP PMV Pharmaceuticals Inc. | 3.31% | 3,747,612 | $4.1M | Add +8.1% |
| WHWK Whitehawk Therapeutics Inc. | 2.72% | 1,890,245 | $3.4M | Reduce -10.0% |
| LVTX Lava Therapeutics NV | 2.02% | 1,960,610 | $2.5M | New |
| KZR Kezar Life Sciences Inc. | 1.61% | 408,138 | $2.0M | Add +738.6% |
| ELEV Elevation Oncology Inc. | 1.24% | 5,890,934 | $1.5M | New |
| ASTC Astrotech Corp. | 1.16% | 220,410 | $1.4M | No change |
| CNTB Connect Biopharma Hldgs Ltd. | 0.93% | 2,093,232 | $1.2M | No change |
| SAGE Sage Therapeutics Inc. | 0.87% | 135,095 | $1.1M | New |
| ATHIRA PHARMA INC | 0.74% | 3,200,667 | $912K | Add +15.3% |
| MIST Milestone Pharmaceuticals Inc. | 0.74% | 1,136,091 | $909K | No change |
| LSTA Lisata Therapeutics Inc. | 0.41% | 216,853 | $510K | Reduce -23.8% |
| TSBX Turnstone Biologics Corp. | 0.37% | 1,103,386 | $452K | New |
| VTGN Vistagen Therapeutics Inc. | 0.30% | 150,000 | $375K | No change |
| ALMS Alumis Inc. | 0.25% | 49,627 | $305K | New |
| NXTC Nextcure Inc. | 0.11% | 273,536 | $131K | No change |
| VRCA Verrica Pharmaceuticals Inc. | 0.06% | 174,651 | $77K | No change |
| HLVX Hillevax Inc. | 0.02% | 20,760 | $30K | No change |
| ACHL Achilles Therapeutics PL-ADR | 0.00% | 3,804,921 | $0 | Reduce -7.2% |
Portfolio Sells Q4 2024 → Q1 2025
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −16.20 |
| ACHL Achilles Therapeutics PL-ADR | Reduce -7.2% | 0.00% | −2.90 |
| WHWK Whitehawk Therapeutics Inc. | Reduce -10.0% | 2.72% | −1.39 |
| PVLA Palvella Therapeutics Inc. | Sold out | 0.00% | −0.31 |
| LENZ Lenz Therapeutics Inc. | Sold out | 0.00% | −0.17 |
| LSTA Lisata Therapeutics Inc. | Reduce -23.8% | 0.41% | −0.11 |
| ALLOVIR INC | Sold out | 0.00% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| THRD Third Harmonic Bio Inc. | New | 10.74% | +10.74 |
| ADVM Adverum Biotechnologies Inc. | Add +20.9% | 9.70% | +3.12 |
| AVIR Atea Pharmaceuticals Inc. | Add +0.0% | 18.41% | +2.58 |
| LVTX Lava Therapeutics NV | New | 2.02% | +2.02 |
| KZR Kezar Life Sciences Inc. | Add +738.6% | 1.61% | +1.41 |
| ORMP Oramed Pharmaceuticals Inc. | Add +14.3% | 5.23% | +1.26 |
| ELEV Elevation Oncology Inc. | New | 1.24% | +1.24 |
| TIL Instil Bio Inc. | Add +4.2% | 5.85% | +1.11 |
| SAGE Sage Therapeutics Inc. | New | 0.87% | +0.87 |
| TSBX Turnstone Biologics Corp. | New | 0.37% | +0.37 |
| ALMS Alumis Inc. | New | 0.25% | +0.25 |
| IKENA ONCOLOGY INC | Add +3.5% | 3.84% | +0.19 |
| PMVP PMV Pharmaceuticals Inc. | Add +8.1% | 3.31% | +0.05 |
| ATHIRA PHARMA INC | Add +15.3% | 0.74% | −0.27 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 15 | $175.1M | ACRS, AVIR, ENGN, KHC, OM |
| Q1 2026 | 15 | $155.4M | ACRS, AVIR, ORMP, TLYS, OM |
| Q4 2025 | 13 | $113.0M | ACRS, AVIR, ORMP, TIL, PMVP |
| Q3 2025 | 19 | $108.7M | ACRS, AVIR, ADVM, TIL, ORMP |
| Q2 2025 | 23 | $130.5M | AVIR, THRD, ACRS, TIL, EPIX |
| Q1 2025 | 27 | $123.6M | AVIR, ACRS, THRD, ADVM, ANTX |
| Q4 2024 | 25 | $161.0M | ACRS, SGOV, AVIR, ADVM, ANTX |
| Q3 2024 | 29 | $169.9M | SGOV, TIL, AVIR, ACRS, BIL |
| Q2 2024 | 27 | $136.5M | SGOV, AVIR, BIL, ACRS, ADVM |
| Q1 2024Amended | 30 | $149.4M | SGOV, AVIR, BIL, ADVM, ACRS |