Catalio Capital Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Catalio Capital Management, LP reported 38 stock positions worth $540.9 million. Its top holding was Eli Lilly (LLY) at 8.1% of the portfolio, followed by Abbvie (ABBV, 6.6%) and Bridgebio Pharma (BBIO, 6.0%). Compared with Q2 2025, it opened 10 new positions, sold out of 12, added to 10 and reduced 13. The biggest buy was a new position in Abbvie (ABBV) and the biggest sale an exit from Edwards Lifesciences (EW).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001958125
- Portfolio Value
- $540.9M (Q3 2025)
- SEC Filing
- 0001958125-25-000009 ↗ filed Nov 14, 2025
Holdings Value
Holdings 38 stocks · $540.9M
| LLY Eli Lilly & Co. | 8.09% | 57,376 | $43.8M | Add +6.4% |
| ABBV Abbvie Inc. | 6.63% | 154,834 | $35.9M | New |
| BBIO Bridgebio Pharma Inc. | 5.98% | 622,729 | $32.3M | Reduce -32.9% |
| ISRG Intuitive Surgical Inc. | 5.90% | 71,343 | $31.9M | Add +25.9% |
| ASND Ascendis Pharma A/S | 5.33% | 144,954 | $28.8M | Reduce -19.4% |
| SLNO Soleno Therapeutics Inc. | 5.23% | 418,245 | $28.3M | Add +2.0% |
| DNTH Dianthus Therapeutics Inc. | 4.86% | 667,615 | $26.3M | Reduce -10.6% |
| BSX Boston Scientific Corp. | 4.75% | 262,972 | $25.7M | Add +14.8% |
| SNDX Syndax Pharmaceuticals Inc. | 4.59% | 1,614,717 | $24.8M | Reduce -23.3% |
| CYTK Cytokinetics Inc. | 4.59% | 451,581 | $24.8M | Reduce -24.9% |
| NTRA Natera Inc. | 4.42% | 148,369 | $23.9M | Add +52.5% |
| REGN Regeneron Pharmaceuticals | 3.67% | 35,344 | $19.9M | New |
| GPCR Structure Therapeutics Inc. | 3.37% | 651,810 | $18.3M | Reduce -2.8% |
| QURE Uniqure NV | 3.05% | 282,940 | $16.5M | Reduce -32.2% |
| IRON Disc Medicine Inc. | 2.65% | 216,527 | $14.3M | Add +606.2% |
| ABVX Abivax SA-ADR | 2.54% | 162,141 | $13.8M | New |
| SUPN Supernus Pharmaceuticals Inc. | 2.54% | 287,090 | $13.7M | New |
| EXAS Exact Sciences Corp. | 2.52% | 248,987 | $13.6M | New |
| PHAT Phathom Pharmaceuticals Inc. | 2.46% | 1,128,521 | $13.3M | Add +67.9% |
| ADPT Adaptive Biotechnologies | 2.45% | 884,890 | $13.2M | Reduce -36.6% |
| RNAM Avidity Biosciences Inc. | 2.12% | 263,256 | $11.5M | New |
| ADMA Adma Biologics Inc. | 1.86% | 684,508 | $10.0M | Add +20.1% |
| RARE Ultragenyx Pharmaceutical Inc. | 1.62% | 291,262 | $8.8M | Add +36.5% |
| GUTS Fractyl Health Inc. | 1.53% | 5,214,236 | $8.3M | Add +2333.9% |
| GRAL Grail Inc. | 1.51% | 137,928 | $8.2M | New |
| TARA Protara Therapeutic Inc. | 1.21% | 1,500,793 | $6.5M | Reduce -7.7% |
| SEPN Septerna Inc. | 1.02% | 294,360 | $5.5M | No change |
| CDTX Cidara Therapeutics Inc. | 0.94% | 53,333 | $5.1M | New |
| KYTX Kyverna Therapeutics Inc. | 0.65% | 586,909 | $3.5M | No change |
| ELDN Eledon Pharmaceuticals Inc. | 0.51% | 1,061,132 | $2.7M | New |
| OM Outset Medical Inc. | 0.31% | 118,279 | $1.7M | Reduce -29.0% |
| MGX Metagenomi Therapeutics Inc. | 0.23% | 528,993 | $1.3M | No change |
| ATAIBECKLEY INC filed as ATAI LIFE SCIENCES NV | 0.19% | 196,858 | $1.0M | No change |
| HYPR Hyperfine Inc. | 0.18% | 684,541 | $993K | Reduce -9.9% |
| MLTX Moonlake Immunotherapeutics | 0.18% | 133,131 | $955K | Reduce -18.1% |
| KPTI Karyopharm Therapeutics Inc. | 0.17% | 142,984 | $935K | Reduce -2.1% |
| PVLA Palvella Therapeutics Inc. | 0.14% | 12,010 | $753K | New |
| FTH Faeth Therapeutics Inc. filed as SENSEI BIOTHERAPEUTICS INC | 0.03% | 14,718 | $139K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −6.41 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −5.27 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −4.11 |
| CORT Corcept Therapeutics Inc. | Sold out | 0.00% | −3.68 |
| BBIO Bridgebio Pharma Inc. | Reduce -32.9% | 5.98% | −2.42 |
| HALO Halozyme Therapeutics Inc. | Sold out | 0.00% | −2.09 |
| MLTX Moonlake Immunotherapeutics | Reduce -18.1% | 0.18% | −1.43 |
| WGS Genedx Holdings Corp. | Sold out | 0.00% | −1.19 |
| ASND Ascendis Pharma A/S | Reduce -19.4% | 5.33% | −1.18 |
| ADPT Adaptive Biotechnologies | Reduce -36.6% | 2.45% | −0.96 |
| REPL Replimune Group Inc. | Sold out | 0.00% | −0.64 |
| ZBIO Zenas Biopharma Inc. | Sold out | 0.00% | −0.44 |
| VIR Vir Biotechnology Inc. | Sold out | 0.00% | −0.41 |
| OM Outset Medical Inc. | Reduce -29.0% | 0.31% | −0.36 |
| FULC Fulcrum Therapeutics Inc. | Sold out | 0.00% | −0.27 |
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| MERSANA THERAPEUTICS INC | Sold out | 0.00% | −0.10 |
| KPTI Karyopharm Therapeutics Inc. | Reduce -2.1% | 0.17% | +0.04 |
| HYPR Hyperfine Inc. | Reduce -9.9% | 0.18% | +0.07 |
| TARA Protara Therapeutic Inc. | Reduce -7.7% | 1.21% | +0.17 |
| CYTK Cytokinetics Inc. | Reduce -24.9% | 4.59% | +0.42 |
| GPCR Structure Therapeutics Inc. | Reduce -2.8% | 3.37% | +0.46 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -23.3% | 4.59% | +0.46 |
| QURE Uniqure NV | Reduce -32.2% | 3.05% | +1.83 |
| DNTH Dianthus Therapeutics Inc. | Reduce -10.6% | 4.86% | +1.94 |
Portfolio Buys Q2 2025 → Q3 2025
| ABBV Abbvie Inc. | New | 6.63% | +6.63 |
| REGN Regeneron Pharmaceuticals | New | 3.67% | +3.67 |
| ABVX Abivax SA-ADR | New | 2.54% | +2.54 |
| SUPN Supernus Pharmaceuticals Inc. | New | 2.54% | +2.54 |
| EXAS Exact Sciences Corp. | New | 2.52% | +2.52 |
| IRON Disc Medicine Inc. | Add +606.2% | 2.65% | +2.30 |
| RNAM Avidity Biosciences Inc. | New | 2.12% | +2.12 |
| GRAL Grail Inc. | New | 1.51% | +1.51 |
| GUTS Fractyl Health Inc. | Add +2333.9% | 1.53% | +1.46 |
| PHAT Phathom Pharmaceuticals Inc. | Add +67.9% | 2.46% | +1.10 |
| NTRA Natera Inc. | Add +52.5% | 4.42% | +0.97 |
| CDTX Cidara Therapeutics Inc. | New | 0.94% | +0.94 |
| ELDN Eledon Pharmaceuticals Inc. | New | 0.51% | +0.51 |
| PVLA Palvella Therapeutics Inc. | New | 0.14% | +0.14 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +36.5% | 1.62% | −0.01 |
| ADMA Adma Biologics Inc. | Add +20.1% | 1.86% | −0.32 |
| BSX Boston Scientific Corp. | Add +14.8% | 4.75% | −0.41 |
| ISRG Intuitive Surgical Inc. | Add +25.9% | 5.90% | −0.56 |
| LLY Eli Lilly & Co. | Add +6.4% | 8.09% | −0.72 |
| SLNO Soleno Therapeutics Inc. | Add +2.0% | 5.23% | −1.97 |
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 |