Catalio Capital Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed September 2, 2026), Catalio Capital Management, LP reported 45 stock positions worth $565.8 million. Its top holding was Gilead Sciences (GILD) at 6.3% of the portfolio, followed by Bristol-Myers Squibb (BMY, 6.2%) and Boston Scientific (BSX, 6.1%). Compared with Q3 2025, it opened 13 new positions, sold out of 6, added to 5 and reduced 21. The biggest buy was a new position in Gilead Sciences (GILD) and the biggest sale an exit from Abbvie (ABBV).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001958125
- Portfolio Value
- $565.8M (Q4 2025)
- SEC Filing
- 0001958125-26-000007 ↗ filed Sep 2, 2026
Holdings Value
Holdings 45 stocks · $565.8M
| GILD Gilead Sciences Inc. | 6.28% | 289,312 | $35.5M | New |
| BMY Bristol-Myers Squibb Co. | 6.18% | 647,899 | $34.9M | New |
| BSX Boston Scientific Corp. | 6.07% | 360,428 | $34.4M | Add +37.1% |
| BBIO Bridgebio Pharma Inc. | 5.55% | 410,700 | $31.4M | Reduce -34.0% |
| LLY Eli Lilly & Co. | 4.92% | 25,923 | $27.9M | Reduce -54.8% |
| DNTH Dianthus Therapeutics Inc. | 4.76% | 653,572 | $26.9M | Reduce -2.1% |
| ASND Ascendis Pharma A/S | 4.50% | 119,265 | $25.4M | Reduce -17.7% |
| SNDX Syndax Pharmaceuticals Inc. | 4.44% | 1,196,807 | $25.1M | Reduce -25.9% |
| JNJ Johnson & Johnson | 4.42% | 120,840 | $25.0M | New |
| REGN Regeneron Pharmaceuticals | 4.07% | 29,797 | $23.0M | Reduce -15.7% |
| GPCR Structure Therapeutics Inc. | 3.11% | 252,901 | $17.6M | Reduce -61.2% |
| SLNO Soleno Therapeutics Inc. | 2.95% | 360,340 | $16.7M | Reduce -13.8% |
| CYTK Cytokinetics Inc. | 2.90% | 258,381 | $16.4M | Reduce -42.8% |
| EW Edwards Lifesciences Corp. | 2.82% | 187,048 | $15.9M | New |
| ISRG Intuitive Surgical Inc. | 2.72% | 27,209 | $15.4M | Reduce -61.9% |
| NTRA Natera Inc. | 2.52% | 62,273 | $14.3M | Reduce -58.0% |
| ADPT Adaptive Biotechnologies | 2.36% | 821,195 | $13.3M | Reduce -7.2% |
| ABVX Abivax SA-ADR | 2.35% | 98,514 | $13.3M | Reduce -39.2% |
| SUPN Supernus Pharmaceuticals Inc. | 2.26% | 257,465 | $12.8M | Reduce -10.3% |
| GUTS Fractyl Health Inc. | 2.14% | 5,491,866 | $12.1M | Add +5.3% |
| MLYS Mineralys Therapeutics Inc. | 2.13% | 331,849 | $12.0M | New |
| PHAT Phathom Pharmaceuticals Inc. | 2.05% | 698,996 | $11.6M | Reduce -38.1% |
| ADMA Adma Biologics Inc. | 1.82% | 564,461 | $10.3M | Reduce -17.5% |
| ACLX Arcellx Inc. | 1.80% | 156,109 | $10.2M | New |
| DYN Dyne Therapeutics Inc. | 1.80% | 519,715 | $10.2M | New |
| IRON Disc Medicine Inc. | 1.55% | 110,427 | $8.8M | Reduce -49.0% |
| OCUL Ocular Therapeutix Inc. | 1.53% | 714,501 | $8.7M | New |
| SEPN Septerna Inc. | 1.45% | 294,360 | $8.2M | No change |
| TARA Protara Therapeutic Inc. | 1.36% | 1,446,254 | $7.7M | Reduce -3.6% |
| QURE Uniqure NV | 1.22% | 288,345 | $6.9M | Add +1.9% |
| OLMA Olema Pharmaceuticals Inc. | 1.18% | 267,058 | $6.7M | New |
| TERN Terns Pharmaceuticals Inc. | 0.98% | 136,958 | $5.5M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 0.66% | 162,550 | $3.7M | Reduce -44.2% |
| HTFL Heartflow Inc. | 0.59% | 113,857 | $3.3M | New |
| GRAL Grail Inc. | 0.46% | 30,313 | $2.6M | Reduce -78.0% |
| FULC Fulcrum Therapeutics Inc. | 0.40% | 201,301 | $2.3M | New |
| BLLN Billiontoone Inc. Class A | 0.37% | 25,505 | $2.1M | New |
| ELDN Eledon Pharmaceuticals Inc. | 0.34% | 1,259,820 | $1.9M | Add +18.7% |
| HYPR Hyperfine Inc. | 0.23% | 1,320,041 | $1.3M | Add +92.8% |
| PVLA Palvella Therapeutics Inc. | 0.19% | 10,452 | $1.1M | Reduce -13.0% |
| KPTI Karyopharm Therapeutics Inc. | 0.19% | 142,984 | $1.1M | No change |
| MGX Metagenomi Therapeutics Inc. | 0.15% | 528,993 | $857K | No change |
| ATAIBECKLEY INC | 0.14% | 196,858 | $805K | No change |
| OM Outset Medical Inc. | 0.08% | 118,279 | $439K | No change |
| FTH Faeth Therapeutics Inc. filed as SENSEI BIOTHERAPEUTICS INC | 0.03% | 14,718 | $157K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| ABBV Abbvie Inc. | Sold out | 0.00% | −6.63 |
| ISRG Intuitive Surgical Inc. | Reduce -61.9% | 2.72% | −3.17 |
| LLY Eli Lilly & Co. | Reduce -54.8% | 4.92% | −3.17 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −2.52 |
| SLNO Soleno Therapeutics Inc. | Reduce -13.8% | 2.95% | −2.28 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −2.12 |
| NTRA Natera Inc. | Reduce -58.0% | 2.52% | −1.89 |
| CYTK Cytokinetics Inc. | Reduce -42.8% | 2.90% | −1.69 |
| IRON Disc Medicine Inc. | Reduce -49.0% | 1.55% | −1.10 |
| GRAL Grail Inc. | Reduce -78.0% | 0.46% | −1.05 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -44.2% | 0.66% | −0.96 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −0.94 |
| ASND Ascendis Pharma A/S | Reduce -17.7% | 4.50% | −0.83 |
| KYTX Kyverna Therapeutics Inc. | Sold out | 0.00% | −0.65 |
| BBIO Bridgebio Pharma Inc. | Reduce -34.0% | 5.55% | −0.43 |
| PHAT Phathom Pharmaceuticals Inc. | Reduce -38.1% | 2.05% | −0.41 |
| SUPN Supernus Pharmaceuticals Inc. | Reduce -10.3% | 2.26% | −0.27 |
| GPCR Structure Therapeutics Inc. | Reduce -61.2% | 3.11% | −0.27 |
| ABVX Abivax SA-ADR | Reduce -39.2% | 2.35% | −0.20 |
| MLTX Moonlake Immunotherapeutics | Sold out | 0.00% | −0.18 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -25.9% | 4.44% | −0.15 |
| DNTH Dianthus Therapeutics Inc. | Reduce -2.1% | 4.76% | −0.10 |
| ADPT Adaptive Biotechnologies | Reduce -7.2% | 2.36% | −0.09 |
| ADMA Adma Biologics Inc. | Reduce -17.5% | 1.82% | −0.04 |
| PVLA Palvella Therapeutics Inc. | Reduce -13.0% | 0.19% | +0.05 |
| TARA Protara Therapeutic Inc. | Reduce -3.6% | 1.36% | +0.16 |
| REGN Regeneron Pharmaceuticals | Reduce -15.7% | 4.07% | +0.39 |
Portfolio Buys Q3 2025 → Q4 2025
| GILD Gilead Sciences Inc. | New | 6.28% | +6.28 |
| BMY Bristol-Myers Squibb Co. | New | 6.18% | +6.18 |
| JNJ Johnson & Johnson | New | 4.42% | +4.42 |
| EW Edwards Lifesciences Corp. | New | 2.82% | +2.82 |
| MLYS Mineralys Therapeutics Inc. | New | 2.13% | +2.13 |
| ACLX Arcellx Inc. | New | 1.80% | +1.80 |
| DYN Dyne Therapeutics Inc. | New | 1.80% | +1.80 |
| OCUL Ocular Therapeutix Inc. | New | 1.53% | +1.53 |
| BSX Boston Scientific Corp. | Add +37.1% | 6.07% | +1.33 |
| OLMA Olema Pharmaceuticals Inc. | New | 1.18% | +1.18 |
| TERN Terns Pharmaceuticals Inc. | New | 0.98% | +0.98 |
| GUTS Fractyl Health Inc. | Add +5.3% | 2.14% | +0.60 |
| HTFL Heartflow Inc. | New | 0.59% | +0.59 |
| FULC Fulcrum Therapeutics Inc. | New | 0.40% | +0.40 |
| BLLN Billiontoone Inc. Class A | New | 0.37% | +0.37 |
| HYPR Hyperfine Inc. | Add +92.8% | 0.23% | +0.04 |
| ELDN Eledon Pharmaceuticals Inc. | Add +18.7% | 0.34% | −0.17 |
| QURE Uniqure NV | Add +1.9% | 1.22% | −1.83 |
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 |