Catalio Capital Management, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Catalio Capital Management, LP reported 40 stock positions worth $476.9 million. Its top holding was Eli Lilly (LLY) at 8.8% of the portfolio, followed by Bridgebio Pharma (BBIO, 8.4%) and Soleno Therapeutics (SLNO, 7.2%). Compared with Q1 2025, it opened 12 new positions, sold out of 7, added to 8 and reduced 13. The biggest buy was a new position in Gilead Sciences (GILD) and the biggest sale an exit from Becton Dickinson and (BDX).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001958125
- Portfolio Value
- $476.9M (Q2 2025)
- SEC Filing
- 0001958125-25-000007 ↗ filed Aug 14, 2025
Holdings Value
Holdings 40 stocks · $476.9M
| LLY Eli Lilly & Co. | 8.81% | 53,916 | $42.0M | Add +127.7% |
| BBIO Bridgebio Pharma Inc. | 8.40% | 927,711 | $40.1M | Reduce -3.6% |
| SLNO Soleno Therapeutics Inc. | 7.20% | 409,944 | $34.3M | Add +154.7% |
| ASND Ascendis Pharma A/S | 6.51% | 179,926 | $31.1M | Reduce -8.0% |
| ISRG Intuitive Surgical Inc. | 6.46% | 56,674 | $30.8M | Add +55.3% |
| EW Edwards Lifesciences Corp. | 6.41% | 390,932 | $30.6M | Reduce -10.3% |
| GILD Gilead Sciences Inc. | 5.27% | 226,875 | $25.2M | New |
| BSX Boston Scientific Corp. | 5.16% | 229,046 | $24.6M | New |
| CYTK Cytokinetics Inc. | 4.17% | 601,439 | $19.9M | Add +2.7% |
| SNDX Syndax Pharmaceuticals Inc. | 4.13% | 2,104,512 | $19.7M | Add +21.4% |
| TEVA Teva Pharmaceutical-SP ADR | 4.11% | 1,170,372 | $19.6M | New |
| CORT Corcept Therapeutics Inc. | 3.68% | 239,125 | $17.6M | New |
| NTRA Natera Inc. | 3.45% | 97,297 | $16.4M | New |
| ADPT Adaptive Biotechnologies | 3.41% | 1,396,445 | $16.3M | Add +128.3% |
| DNTH Dianthus Therapeutics Inc. | 2.92% | 746,527 | $13.9M | Reduce -2.2% |
| GPCR Structure Therapeutics Inc. | 2.92% | 670,575 | $13.9M | Reduce -4.9% |
| ADMA Adma Biologics Inc. | 2.18% | 569,704 | $10.4M | New |
| HALO Halozyme Therapeutics Inc. | 2.09% | 191,529 | $10.0M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 1.63% | 213,402 | $7.8M | New |
| MLTX Moonlake Immunotherapeutics | 1.61% | 162,596 | $7.7M | Add +41.9% |
| PHAT Phathom Pharmaceuticals Inc. | 1.35% | 672,290 | $6.4M | New |
| QURE Uniqure NV | 1.22% | 417,443 | $5.8M | Reduce -49.7% |
| WGS Genedx Holdings Corp. | 1.19% | 61,507 | $5.7M | New |
| TARA Protara Therapeutic Inc. | 1.03% | 1,626,370 | $4.9M | Add +49.4% |
| OM Outset Medical Inc. | 0.67% | 166,666 | $3.2M | No change |
| SEPN Septerna Inc. | 0.65% | 294,360 | $3.1M | Reduce -71.3% |
| REPL Replimune Group Inc. | 0.64% | 330,337 | $3.1M | Reduce -7.1% |
| ZBIO Zenas Biopharma Inc. | 0.44% | 215,314 | $2.1M | Reduce -27.1% |
| VIR Vir Biotechnology Inc. | 0.41% | 388,303 | $2.0M | Reduce -36.5% |
| KYTX Kyverna Therapeutics Inc. | 0.38% | 586,909 | $1.8M | No change |
| IRON Disc Medicine Inc. | 0.34% | 30,661 | $1.6M | New |
| FULC Fulcrum Therapeutics Inc. | 0.27% | 188,304 | $1.3M | Reduce -6.8% |
| BCAX Bicara Therapeutics Inc. | 0.19% | 97,800 | $909K | New |
| MGX Metagenomi Therapeutics Inc. | 0.16% | 528,993 | $783K | No change |
| KPTI Karyopharm Therapeutics Inc. | 0.13% | 146,013 | $629K | Reduce -6.2% |
| HYPR Hyperfine Inc. | 0.11% | 760,035 | $547K | No change |
| MERSANA THERAPEUTICS INC | 0.10% | 1,567,413 | $464K | Reduce -8.1% |
| ATAIBECKLEY INC filed as ATAI LIFE SCIENCES NV | 0.09% | 196,858 | $431K | No change |
| GUTS Fractyl Health Inc. | 0.07% | 214,236 | $347K | No change |
| FTH Faeth Therapeutics Inc. filed as SENSEI BIOTHERAPEUTICS INC | 0.03% | 14,718 | $126K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −11.58 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −8.30 |
| VCYT Veracyte Inc. | Sold out | 0.00% | −5.60 |
| LIVN Livanova PLC | Sold out | 0.00% | −3.72 |
| INSP Inspire Medical Systems Inc. | Sold out | 0.00% | −3.39 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −1.93 |
| EW Edwards Lifesciences Corp. | Reduce -10.3% | 6.41% | −1.42 |
| ASND Ascendis Pharma A/S | Reduce -8.0% | 6.51% | −1.04 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −0.98 |
| QURE Uniqure NV | Reduce -49.7% | 1.22% | −0.96 |
| SEPN Septerna Inc. | Reduce -71.3% | 0.65% | −0.82 |
| VIR Vir Biotechnology Inc. | Reduce -36.5% | 0.41% | −0.57 |
| DNTH Dianthus Therapeutics Inc. | Reduce -2.2% | 2.92% | −0.52 |
| REPL Replimune Group Inc. | Reduce -7.1% | 0.64% | −0.22 |
| ZBIO Zenas Biopharma Inc. | Reduce -27.1% | 0.44% | −0.14 |
| GPCR Structure Therapeutics Inc. | Reduce -4.9% | 2.92% | −0.11 |
| MERSANA THERAPEUTICS INC | Reduce -8.1% | 0.10% | −0.05 |
| KPTI Karyopharm Therapeutics Inc. | Reduce -6.2% | 0.13% | −0.01 |
| FULC Fulcrum Therapeutics Inc. | Reduce -6.8% | 0.27% | +0.13 |
| BBIO Bridgebio Pharma Inc. | Reduce -3.6% | 8.40% | +0.15 |
Portfolio Buys Q1 2025 → Q2 2025
| GILD Gilead Sciences Inc. | New | 5.27% | +5.27 |
| BSX Boston Scientific Corp. | New | 5.16% | +5.16 |
| SLNO Soleno Therapeutics Inc. | Add +154.7% | 7.20% | +4.35 |
| TEVA Teva Pharmaceutical-SP ADR | New | 4.11% | +4.11 |
| LLY Eli Lilly & Co. | Add +127.7% | 8.81% | +3.96 |
| CORT Corcept Therapeutics Inc. | New | 3.68% | +3.68 |
| NTRA Natera Inc. | New | 3.45% | +3.45 |
| ADPT Adaptive Biotechnologies | Add +128.3% | 3.41% | +2.28 |
| ADMA Adma Biologics Inc. | New | 2.18% | +2.18 |
| HALO Halozyme Therapeutics Inc. | New | 2.09% | +2.09 |
| ISRG Intuitive Surgical Inc. | Add +55.3% | 6.46% | +1.98 |
| RARE Ultragenyx Pharmaceutical Inc. | New | 1.63% | +1.63 |
| PHAT Phathom Pharmaceuticals Inc. | New | 1.35% | +1.35 |
| WGS Genedx Holdings Corp. | New | 1.19% | +1.19 |
| MLTX Moonlake Immunotherapeutics | Add +41.9% | 1.61% | +0.50 |
| IRON Disc Medicine Inc. | New | 0.34% | +0.34 |
| BCAX Bicara Therapeutics Inc. | New | 0.19% | +0.19 |
| TARA Protara Therapeutic Inc. | Add +49.4% | 1.03% | −0.12 |
| SNDX Syndax Pharmaceuticals Inc. | Add +21.4% | 4.13% | −1.15 |
| CYTK Cytokinetics Inc. | Add +2.7% | 4.17% | −1.67 |
Options Activity Q1 2025 → Q2 2025
| SOLENO THERAPEUTICS INC | call | Sold out | 100,000 | $6.5Mbefore exit |
| ARCUTIS BIOTHERAPEUTICS INC | put | Sold out | 100,000 | $1.3Mbefore 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 | 39 | $532.1M | AVLN, JNJ, GILD, BBIO, SNDX |
| Q1 2026 | 41 | $478.7M | DNTH, BBIO, ASND, BMY, SNDX |
| Q4 2025Amended | 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 |