BML Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 6, 2026), BML Capital Management, LLC reported 15 stock positions worth $155.4 million. Its top holding was Aclaris Therapeutics (ACRS) at 34.4% of the portfolio, followed by Atea Pharmaceuticals (AVIR, 24.4%) and Oramed Pharmaceuticals (ORMP, 6.9%). Compared with Q4 2025, it opened 3 new positions, sold out of 1, added to 3 and reduced 1. The biggest buy was a new position in Tilly's Inc. Class A SHRS (TLYS) and the biggest sale an exit from Lisata Therapeutics (LSTA).
- Most Recent 13F
- Q2 2026
- Location
- ZIONSVILLE, IN
- CIK
- 0001616824
- Portfolio Value
- $155.4M (Q1 2026)
- SEC Filing
- 0001754960-26-000359 ↗ filed May 6, 2026
Holdings Value
Holdings 15 stocks · $155.4M
| ACRS Aclaris Therapeutics Inc. | 34.38% | 14,250,000 | $53.4M | No change |
| AVIR Atea Pharmaceuticals Inc. | 24.43% | 7,058,657 | $38.0M | Reduce -5.8% |
| ORMP Oramed Pharmaceuticals Inc. | 6.93% | 3,167,231 | $10.8M | No change |
| TLYS Tilly's Inc. Class A SHRS | 5.60% | 2,150,000 | $8.7M | New |
| OM Outset Medical Inc. | 4.70% | 1,902,201 | $7.3M | Add +250.2% |
| PMVP PMV Pharmaceuticals Inc. | 4.24% | 5,320,000 | $6.6M | Add +0.5% |
| KMX Carmax Inc. | 4.15% | 155,000 | $6.4M | No change |
| KZR Kezar Life Sciences Inc. | 3.44% | 720,787 | $5.3M | No change |
| TIL Instil Bio Inc. | 3.42% | 645,600 | $5.3M | No change |
| TGT Target Corp. | 2.92% | 37,500 | $4.5M | No change |
| KHC The Kraft Heinz Co. | 1.81% | 125,000 | $2.8M | New |
| JANX Janux Therapeutics Inc. | 1.39% | 154,961 | $2.2M | New |
| PLRX Pliant Therapeutics Inc. | 1.25% | 1,546,137 | $1.9M | No change |
| CNTB Connect Biopharma Holdings L | 0.69% | 408,887 | $1.1M | No change |
| IMA Imagenebio Inc. | 0.65% | 200,730 | $1.0M | Add +13.4% |
Options reported separately and not counted above: WMT puts ($329K).
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
Options Activity Q4 2025 → Q1 2026
| CVNA Carvana Co. | put | Sold out | 150 | $2.0Mbefore exit |
| TSLA Tesla Inc. | put | Sold out | 1,000 | $205Kbefore exit |
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 | 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 |