Catalio Capital Management, LP In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Catalio Capital Management, LP reported 35 stock positions worth $403.4 million . Its top holding was Becton Dickinson and (BDX) at 11.6% of the portfolio, followed by Springworks Therapeutics (SWTX, 8.3% ) and Bridgebio Pharma (BBIO, 8.3% ). Compared with Q4 2024, it opened 11 new positions, sold out of 9, added to 7 and reduced 6. The biggest buy was a new position in Syndax Pharmaceuticals (SNDX) and the biggest sale an exit from Bristol-Myers Squibb (BMY).
Location NEW YORK, NY
CIK 0001958125
Portfolio Value $403.4M (Q1 2025) Holdings 35 stocks · $403.4M 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 BDX Becton Dickinson and Co. 203,965 $46.7M Add +37.2% SWTX Springworks Therapeutics Inc. 758,533 $33.5M Reduce -0.8% BBIO Bridgebio Pharma Inc. 962,883 $33.3M Add +7.2% EW Edwards Lifesciences Corp. 435,588 $31.6M Add +30.8% ASND Ascendis Pharma A/S 195,523 $30.5M Reduce -9.3% CYTK Cytokinetics Inc. 585,812 $23.5M Add +28.0% VCYT Veracyte Inc. 762,225 $22.6M Add +55.4% SNDX Syndax Pharmaceuticals Inc. 1,733,701 $21.3M New LLY Eli Lilly & Co. 23,682 $19.6M New ISRG Intuitive Surgical Inc. 36,499 $18.1M Reduce -1.1% LIVN Livanova PLC 381,648 $15.0M Reduce -25.5% DNTH Dianthus Therapeutics Inc. 763,471 $13.8M No change INSP Inspire Medical Systems Inc. 85,877 $13.7M New GPCR Structure Therapeutics Inc. 704,864 $12.2M Add +23.8% SLNO Soleno Therapeutics Inc. 160,962 $11.5M New QURE Uniqure NV 830,325 $8.8M Reduce -7.9% REGN Regeneron Pharmaceuticals 12,261 $7.8M New SEPN Septerna Inc. 1,024,245 $5.9M No change TARA Protara Therapeutic Inc. 1,088,691 $4.6M No change ADPT Adaptive Biotechnologies 611,639 $4.5M New MLTX Moonlake Immunotherapeutics 114,616 $4.5M New KROS Keros Therapeutics Inc. 389,384 $4.0M Reduce -4.4% VIR Vir Biotechnology Inc. 611,608 $4.0M New REPL Replimune Group Inc. 355,640 $3.5M New ZBIO Zenas Biopharma Inc. 295,148 $2.3M Add +57.7% OM Outset Medical Inc. 166,666 $1.8M New KYTX Kyverna Therapeutics Inc. 586,909 $1.1M No change MGX Metagenomi Therapeutics Inc. 528,993 $719K No change MERSANA THERAPEUTICS INC 1,705,036 $587K No change FULC Fulcrum Therapeutics Inc. 202,139 $582K New KPTI Karyopharm Therapeutics Inc. 155,622 $582K No change HYPR Hyperfine Inc. 760,035 $544K No change ATAIBECKLEY INC filed as ATAI LIFE SCIENCES NV 196,858 $268K No change GUTS Fractyl Health Inc. 214,236 $255K No change SENSEI BIOTHERAPEUTICS INC 294,374 $116K No change
Options reported separately and not counted above: SOLENO THERAPEUTICS INC calls ($6.5M), ARCUTIS BIOTHERAPEUTICS INC puts ($1.3M).
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 ▲ BMY Bristol-Myers Squibb Co. Sold out 0.00% −6.18 BPMC Blueprint Medicines Corp. Sold out 0.00% −5.43 NVST Envista Holdings Corp. Sold out 0.00% −4.30 EXAS Exact Sciences Corp. Sold out 0.00% −3.80 MASI Masimo Corp. Sold out 0.00% −3.16 IRON Disc Medicine Inc. Sold out 0.00% −2.49 ADMA Adma Biologics Inc. Sold out 0.00% −1.92 NARI Inari Medical Inc. Sold out 0.00% −1.48 LIVN Livanova PLC Reduce -25.5% 3.72% −1.47 BSX Boston Scientific Corp. Sold out 0.00% −1.42 QURE Uniqure NV Reduce -7.9% 2.18% −1.30 KROS Keros Therapeutics Inc. Reduce -4.4% 0.98% −0.43 ISRG Intuitive Surgical Inc. Reduce -1.1% 4.48% +0.27 ASND Ascendis Pharma A/S Reduce -9.3% 7.56% +1.06 SWTX Springworks Therapeutics Inc. Reduce -0.8% 8.30% +2.26
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 ▼ SNDX Syndax Pharmaceuticals Inc. New 5.28% +5.28 LLY Eli Lilly & Co. New 4.85% +4.85 BDX Becton Dickinson and Co. Add +37.2% 11.58% +4.21 INSP Inspire Medical Systems Inc. New 3.39% +3.39 BBIO Bridgebio Pharma Inc. Add +7.2% 8.25% +2.86 SLNO Soleno Therapeutics Inc. New 2.85% +2.85 EW Edwards Lifesciences Corp. Add +30.8% 7.83% +2.43 REGN Regeneron Pharmaceuticals New 1.93% +1.93 VCYT Veracyte Inc. Add +55.4% 5.60% +1.35 CYTK Cytokinetics Inc. Add +28.0% 5.84% +1.13 ADPT Adaptive Biotechnologies New 1.13% +1.13 MLTX Moonlake Immunotherapeutics New 1.11% +1.11 VIR Vir Biotechnology Inc. New 0.98% +0.98 REPL Replimune Group Inc. New 0.86% +0.86 OM Outset Medical Inc. New 0.46% +0.46 ZBIO Zenas Biopharma Inc. Add +57.7% 0.58% +0.24 FULC Fulcrum Therapeutics Inc. New 0.14% +0.14 GPCR Structure Therapeutics Inc. Add +23.8% 3.02% −0.35
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SOLENO THERAPEUTICS INC call New 100,000 $6.5M ARCUTIS BIOTHERAPEUTICS INC put New 100,000 $1.3M
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 39 $532.1M AVLN, JNJ, GILD, BBIO, SNDX Q1 2026 41 $478.7M DNTH, BBIO, ASND, BMY, SNDX Q4 2025 Amended 45 $565.8M GILD, BMY, BSX, BBIO, LLY Q3 2025 38 $540.9M LLY, ABBV, BBIO, ISRG, ASND Q2 2025 40 $476.9M LLY, BBIO, SLNO, ASND, ISRG Q1 2025 35 $403.4M BDX, SWTX, BBIO, EW, ASND Q4 2024 33 $457.1M BDX, ASND, BMY, SWTX, BPMC