Boxer Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Boxer Capital Management, LLC reported 53 stock positions worth $761.7 million. Its top holding was Tango Therapeutics (TNGX) at 29.9% of the portfolio, followed by Kodiak Sciences (KOD, 6.8%) and Revolution Medicines (RVMD, 6.4%). Compared with Q4 2025, it opened 12 new positions, sold out of 2, added to 13 and reduced 3. The biggest buy was a new position in Vaxcyte (PCVX) and the biggest sale an exit from Cidara Therapeutics (CDTX).

Most Recent 13F
Q2 2026
Location
San Diego, CA
CIK
0002018299
Portfolio Value
$761.7M (Q1 2026)
SEC Filing
0001213900-26-057335 ↗ filed May 15, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q4 2024: $1.2B Q4 2024 Q1 2025: $332.4M Q1 2025 Q2 2025: $198.6M Q2 2025 Q3 2025: $313.7M Q3 2025 Q4 2025: $456.8M Q4 2025 Q1 2026: $761.7M $761.7M Q1 2026 Q2 2026: $1.3B Q2 2026

Holdings 53 stocks · $761.7M
TNGX Tango Therapeutics Inc. 29.87% 10,876,219 $227.5M No change
KOD Kodiak Sciences Inc. 6.81% 1,361,000 $51.9M Add +19.8%
RVMD Revolution Medicines Inc. 6.38% 500,000 $48.6M Add +25.0%
KYMR Kymera Therapeutics Inc. 3.60% 329,100 $27.4M No change
CELC Celcuity Inc. 3.37% 225,000 $25.7M No change
SRZN Surrozen Inc. 2.93% 766,318 $22.3M Add +84.1%
ABVX Abivax SA-ADR 2.92% 200,000 $22.3M Add +60.0%
TERN Terns Pharmaceuticals Inc. 2.60% 375,000 $19.8M No change
PCVX Vaxcyte Inc. 2.48% 325,000 $18.9M New
CAPR Capricor Therapeutics Inc. 2.35% 590,000 $17.9M Add +81.5%
PTGX Protagonist Therapeutics Inc. 2.35% 170,000 $17.9M No change
VIR Vir Biotechnology Inc. 2.20% 1,866,000 $16.7M Add +198.6%
CRVS Corvus Pharmaceuticals Inc. 2.11% 1,100,000 $16.1M New
PRAX Praxis Precision Medicines I 1.97% 46,457 $15.0M No change
PTCT PTC Therapeutics Inc. 1.79% 200,000 $13.6M No change
PGEN Precigen Inc. 1.78% 3,500,000 $13.5M Add +154.6%
DFTX Definium Therapeutics Inc. 1.49% 598,500 $11.3M No change
AMLX Amylyx Pharmaceuticals Inc. 1.46% 800,000 $11.1M No change
QURE Uniqure NV 1.42% 662,000 $10.8M Add +128.3%
IRD Opus Genetics Inc. 1.34% 2,250,000 $10.2M New
CORT Corcept Therapeutics Inc. 1.32% 250,000 $10.1M New
URGN Urogen Pharma Ltd. 1.18% 500,000 $9.0M No change
REPL Replimune Group Inc. 1.18% 1,175,000 $9.0M Add +56.7%
COGT Cogent Biosciences Inc. 1.14% 225,000 $8.7M No change
PALI Palisade Bio Inc. 1.10% 4,799,875 $8.4M No change
CBIO Crescent Biopharma Inc. 1.09% 453,686 $8.3M New
SLNO Soleno Therapeutics Inc. 0.88% 200,000 $6.7M New
ALLO Allogene Therapeutics Inc. 0.87% 2,725,000 $6.6M New
CYTK Cytokinetics Inc. 0.87% 100,000 $6.6M No change
CTNM Contineum Therapeutics Inc. Class A 0.85% 494,000 $6.5M No change
APGE Apogee Therapeutics Inc. 0.77% 70,000 $5.9M No change
RLMD Relmada Therapeutics Inc. 0.77% 842,106 $5.9M New
ZURA Zura Bio Ltd. 0.70% 900,000 $5.4M Add +1700.0%
MLTX Moonlake Immunotherapeutics 0.67% 275,000 $5.1M No change
AVTX Avalo Therapeutics Inc. 0.59% 300,000 $4.5M Add +9.1%
INO Inovio Pharmaceuticals Inc. 0.54% 2,370,122 $4.1M Reduce -2.1%
GPCR Structure Therapeutics Inc. 0.47% 75,000 $3.6M No change
SRPT Sarepta Therapeutics Inc. 0.43% 150,000 $3.3M No change
HELP Cybin Inc. 0.40% 640,000 $3.1M Reduce -10.5%
OCUL Ocular Therapeutix Inc. 0.39% 350,000 $3.0M New
ANTX AN2 Therapeutics Inc. 0.34% 749,035 $2.6M New
CLNN Clene Inc. 0.31% 477,515 $2.4M Add +139.1%
ORIC Oric Pharmaceuticals Inc. 0.29% 176,500 $2.2M New
SLDB Solid Biosciences Inc. 0.28% 300,000 $2.2M No change
IVVD Invivyd Inc. 0.26% 1,500,000 $1.9M No change
LBRX LB Pharmaceuticals Inc. 0.23% 70,000 $1.7M No change
KPTI Karyopharm Therapeutics Inc. 0.22% 302,536 $1.7M Add +19.8%
NRIX Nurix Therapeutics Inc. 0.20% 100,000 $1.6M No change
UPB Upstream Bio Inc. 0.18% 150,000 $1.4M No change
MIST Milestone Pharmaceuticals Inc. 0.10% 666,666 $793K No change
PEPG Pepgen Inc. 0.06% 272,892 $483K Reduce -27.0%
KALV Kalvista Pharmaceuticals Inc. 0.05% 20,400 $411K No change
RGNX Regenxbio Inc. 0.02% 15,000 $126K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $1K (not counted above)
SecurityClassShares / PrincipalValueChange
SRZNW Surrozen Inc.-CW25 *W EXP 08/01/203 66,666$1KNo change

Total filed on the 13F, all lines: $761.7M.

Portfolio Sells Q4 2025 → Q1 2026
CDTX Cidara Therapeutics Inc. Sold out 0.00% −2.56
CBIO Crescent Biopharma Inc. Sold out 0.00% −1.18
HELP Cybin Inc. Reduce -10.5% 0.40% −0.88
PEPG Pepgen Inc. Reduce -27.0% 0.06% −0.47
INO Inovio Pharmaceuticals Inc. Reduce -2.1% 0.54% −0.38

Portfolio Buys Q4 2025 → Q1 2026
PCVX Vaxcyte Inc. New 2.48% +2.48
CRVS Corvus Pharmaceuticals Inc. New 2.11% +2.11
VIR Vir Biotechnology Inc. Add +198.6% 2.20% +1.37
IRD Opus Genetics Inc. New 1.34% +1.34
CORT Corcept Therapeutics Inc. New 1.32% +1.32
CBIO Crescent Biopharma Inc. New 1.09% +1.09
SLNO Soleno Therapeutics Inc. New 0.88% +0.88
ALLO Allogene Therapeutics Inc. New 0.87% +0.87
SRZN Surrozen Inc. Add +84.1% 2.93% +0.87
RLMD Relmada Therapeutics Inc. New 0.77% +0.77
ZURA Zura Bio Ltd. Add +1700.0% 0.70% +0.65
PGEN Precigen Inc. Add +154.6% 1.78% +0.52
OCUL Ocular Therapeutix Inc. New 0.39% +0.39
ANTX AN2 Therapeutics Inc. New 0.34% +0.34
CAPR Capricor Therapeutics Inc. Add +81.5% 2.35% +0.30
ORIC Oric Pharmaceuticals Inc. New 0.29% +0.29
CLNN Clene Inc. Add +139.1% 0.31% +0.05
RGNX Regenxbio Inc. New 0.02% +0.02
QURE Uniqure NV Add +128.3% 1.42% −0.10
KOD Kodiak Sciences Inc. Add +19.8% 6.81% −0.14
KPTI Karyopharm Therapeutics Inc. Add +19.8% 0.22% −0.19
REPL Replimune Group Inc. Add +56.7% 1.18% −0.42
AVTX Avalo Therapeutics Inc. Add +9.1% 0.59% −0.51
RVMD Revolution Medicines Inc. Add +25.0% 6.38% −0.59
ABVX Abivax SA-ADR Add +60.0% 2.92% −0.77

Notes & Other Activity Q4 2025 → Q1 2026
NUVB.WS Nuvation Bio Inc. -CW27 *W EXP 02/10/202 Sold out 266,666 $88Kbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 62$1.3BTNGX, RVMD, ABVX, QURE, KOD
Q1 2026 53$761.7MTNGX, KOD, RVMD, KYMR, CELC
Q4 2025 43$456.8MTNGX, RVMD, KOD, KYMR, CELC
Q3 2025Amended 32$313.7MTNGX, QURE, RVMD, KYMR, KOD
Q2 2025Amended 18$198.6MTNGX, RVMD, REPL, MRUS, KYMR
Q1 2025Amended 26$332.4MRVMD, NUVL, MRUS, RNAM, ANAB
Q4 2024 58$1.2BRVMD, SWTX, NUVL, MRUS, RNAM