Cutter Capital Management, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Cutter Capital Management, LP reported 21 stock positions worth $244.0 million. Its top holding was Regeneron Pharmaceuticals (REGN) at 9.2% of the portfolio, followed by Johnson & Johnson (JNJ, 8.4%) and Royalty Pharma Class A (RPRX, 8.0%). Compared with Q3 2024, it opened 11 new positions, sold out of 17, added to 8 and reduced 2. The biggest buy was a new position in Johnson & Johnson (JNJ) and the biggest sale an exit from Gilead Sciences (GILD).
- Most Recent 13F
- Q2 2025
- Location
- NEW YORK, NY
- CIK
- 0001983313
- Portfolio Value
- $244.0M (Q4 2024)
- SEC Filing
- 0001214659-25-002829 ↗ filed Feb 14, 2025
Holdings Value
Holdings 21 stocks · $244.0M
| REGN Regeneron Pharmaceuticals | 9.19% | 31,500 | $22.4M | Add +117.6% |
| JNJ Johnson & Johnson | 8.39% | 141,572 | $20.5M | New |
| RPRX Royalty Pharma PLC Class A | 8.00% | 764,859 | $19.5M | Add +15.0% |
| ABBV Abbvie Inc. | 7.43% | 101,996 | $18.1M | New |
| RARE Ultragenyx Pharmaceutical Inc. | 7.01% | 406,803 | $17.1M | Add +41.8% |
| BBIO Bridgebio Pharma Inc. | 6.30% | 560,344 | $15.4M | Add +41.4% |
| SRPT Sarepta Therapeutics Inc. | 6.19% | 124,256 | $15.1M | Add +48.4% |
| INSM Insmed Inc. | 5.97% | 210,884 | $14.6M | Reduce -2.3% |
| TEVA Teva Pharmaceutical-SP ADR | 5.28% | 584,883 | $12.9M | New |
| VRDN Viridian Therapeutics Inc. | 4.94% | 628,677 | $12.1M | Add +21.2% |
| AMGN Amgen Inc. | 4.07% | 38,090 | $9.9M | New |
| AGIO Agios Pharmaceuticals Inc. | 4.06% | 301,623 | $9.9M | Add +61.6% |
| VERA Vera Therapeutics Inc. | 3.69% | 212,696 | $9.0M | Add +23.0% |
| NAMS Newamsterdam Pharma Co. NV | 3.55% | 337,152 | $8.7M | New |
| MRNA Moderna Inc. | 3.37% | 197,500 | $8.2M | New |
| PRGO Perrigo Co. PLC | 3.10% | 294,517 | $7.6M | Reduce -47.2% |
| JANX Janux Therapeutics Inc. | 2.63% | 120,000 | $6.4M | New |
| AKRO Akero Therapeutics Inc. | 2.62% | 230,000 | $6.4M | New |
| TARS Tarsus Pharmaceuticals Inc. | 2.55% | 112,500 | $6.2M | New |
| CNTA Centessa Pharmaceuticals Ltd. | 1.01% | 147,076 | $2.5M | New |
| NMRA Neumora Therapeutics Inc. | 0.65% | 150,000 | $1.6M | New |
Portfolio Sells Q3 2024 → Q4 2024
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −8.88 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −8.77 |
| A Agilent Technologies Inc. | Sold out | 0.00% | −5.28 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −4.69 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −4.52 |
| HRMY Harmony Biosciences Holdings | Sold out | 0.00% | −4.44 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −3.86 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −3.58 |
| AXSM Axsome Therapeutics Inc. | Sold out | 0.00% | −2.81 |
| IOVA Iovance Biotherapeutics Inc. | Sold out | 0.00% | −2.43 |
| NTLA Intellia Therapeutics Inc. | Sold out | 0.00% | −2.37 |
| ACLX Arcellx Inc. | Sold out | 0.00% | −2.22 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −2.18 |
| BCRX Biocryst Pharmaceuticals Inc. | Sold out | 0.00% | −1.79 |
| ELVN Enliven Therapeutics Inc. | Sold out | 0.00% | −1.57 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −1.49 |
| PRGO Perrigo Co. PLC | Reduce -47.2% | 3.10% | −1.22 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −1.15 |
| INSM Insmed Inc. | Reduce -2.3% | 5.97% | +1.31 |
Portfolio Buys Q3 2024 → Q4 2024
| JNJ Johnson & Johnson | New | 8.39% | +8.39 |
| ABBV Abbvie Inc. | New | 7.43% | +7.43 |
| TEVA Teva Pharmaceutical-SP ADR | New | 5.28% | +5.28 |
| REGN Regeneron Pharmaceuticals | Add +117.6% | 9.19% | +4.70 |
| AMGN Amgen Inc. | New | 4.07% | +4.07 |
| NAMS Newamsterdam Pharma Co. NV | New | 3.55% | +3.55 |
| MRNA Moderna Inc. | New | 3.37% | +3.37 |
| BBIO Bridgebio Pharma Inc. | Add +41.4% | 6.30% | +3.32 |
| SRPT Sarepta Therapeutics Inc. | Add +48.4% | 6.19% | +3.10 |
| JANX Janux Therapeutics Inc. | New | 2.63% | +2.63 |
| AKRO Akero Therapeutics Inc. | New | 2.62% | +2.62 |
| TARS Tarsus Pharmaceuticals Inc. | New | 2.55% | +2.55 |
| RPRX Royalty Pharma PLC Class A | Add +15.0% | 8.00% | +2.44 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +41.8% | 7.01% | +2.31 |
| AGIO Agios Pharmaceuticals Inc. | Add +61.6% | 4.06% | +1.61 |
| VRDN Viridian Therapeutics Inc. | Add +21.2% | 4.94% | +1.46 |
| VERA Vera Therapeutics Inc. | Add +23.0% | 3.69% | +1.43 |
| CNTA Centessa Pharmaceuticals Ltd. | New | 1.01% | +1.01 |
| NMRA Neumora Therapeutics Inc. | New | 0.65% | +0.65 |