DCF Advisers, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), DCF Advisers, LLC reported 69 stock positions worth $162.5 million. Its top holding was Micron Technology (MU) at 11.6% of the portfolio, followed by Alphabet Class C (GOOG, 6.7%) and Regeneron Pharmaceuticals (REGN, 6.3%). Compared with Q4 2023, it opened 4 new positions, sold out of 4, added to 21 and reduced 14. The biggest buy was Micron Technology (MU, shares +3%) and the biggest sale Regeneron Pharmaceuticals (REGN, shares −13%).

Most Recent 13F
Q2 2026
Location
MOUNT PLEASANT, SC
CIK
0001802493
Portfolio Value
$162.5M (Q1 2024)
SEC Filing
0001013594-24-000473 ↗ filed May 15, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $162.5M $162.5M Q1 2024 Q2 2024: $187.6M Q2 2024 Q3 2024: $191.8M Q3 2024 Q4 2024: $197.6M Q4 2024 Q1 2025: $185.8M Q1 2025 Q2 2025: $207.9M Q2 2025 Q3 2025: $264.0M Q3 2025 Q4 2025: $302.8M Q4 2025 Q1 2026: $265.3M Q1 2026 Q2 2026: $382.2M Q2 2026

Holdings 69 stocks · $162.5M
MU Micron Technology Inc. 11.57% 159,500 $18.8M Add +2.9%
GOOG Alphabet Inc. Class C 6.71% 71,650 $10.9M Add +2.1%
REGN Regeneron Pharmaceuticals 6.28% 10,600 $10.2M Reduce -13.1%
ARGX Argenx SE - ADR 4.89% 20,200 $8.0M Reduce -1.2%
AMD Advanced Micro Devices 4.22% 38,000 $6.9M No change
ITCI Intra-Cellular Therapies Inc. 4.12% 96,857 $6.7M No change
ABBV Abbvie Inc. 3.56% 31,800 $5.8M Reduce -2.1%
LLY Eli Lilly & Co. 3.35% 7,000 $5.4M No change
ORCL Oracle Corp. 3.15% 40,750 $5.1M Reduce -7.4%
ET Energy Transfer LP 2.99% 309,250 $4.9M Reduce -0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 2.92% 125,350 $4.8M Reduce -2.6%
XNCR Xencor Inc. 2.85% 208,979 $4.6M Reduce -11.9%
GLD SPDR Gold Shares 2.78% 22,000 $4.5M Reduce -4.3%
IAU iShares Gold Trust 2.58% 100,000 $4.2M No change
INCY Incyte Corp. 1.81% 51,500 $2.9M Add +21.2%
AMGN Amgen Inc. 1.80% 10,300 $2.9M Add +47.1%
ZBH Zimmer Biomet Holdings Inc. 1.76% 21,719 $2.9M Add +18.1%
BABA Alibaba Group Holding-SP ADR 1.71% 38,300 $2.8M Add +1.3%
PRTA Prothena Corp. PLC 1.63% 107,000 $2.7M Add +27.4%
AAPL Apple Inc. 1.56% 14,750 $2.5M No change
TPB Turning Point Brands Inc. 1.51% 83,500 $2.4M No change
IWM iShares Russell 2000 ETF 1.49% 11,500 $2.4M No change
XJQCX Nuveen Credit Strategies Inc. 1.42% 415,000 $2.3M Add +0.2%
XAODX Abrdn Total Dynamic Dividend 1.33% 261,500 $2.2M No change
BIDU Baidu Inc. - Spon ADR 1.25% 19,250 $2.0M New
GM General Motors Co. 0.98% 35,000 $1.6M Reduce -12.5%
LFCR Lifecore Biomedical Inc. 0.93% 284,684 $1.5M Add +9.6%
GDX Vaneck Gold Miners ETF 0.92% 47,500 $1.5M Add +120.9%
CSCO Cisco Systems Inc. 0.92% 30,000 $1.5M Add +20.0%
QCOM Qualcomm Inc. 0.89% 8,500 $1.4M No change
OI O-I Glass Inc. 0.88% 85,750 $1.4M Add +3.0%
F Ford Motor Co. filed as FORD MTR CO DEL 0.82% 100,000 $1.3M No change
RVNC Revance Therapeutics Inc. 0.80% 263,372 $1.3M Add +2.5%
MRVL Marvell Technology Inc. 0.76% 17,500 $1.2M No change
B Barrick Gold Corp. 0.74% 72,500 $1.2M No change
TEVA Teva Pharmaceutical-SP ADR 0.74% 85,000 $1.2M Add +118.0%
T AT&T Inc. 0.70% 65,000 $1.1M Reduce -17.7%
SLV iShares Silver Trust 0.70% 50,000 $1.1M No change
BOXX Alpha Architect 1-3 MNTH Box 0.65% 9,875 $1.1M No change
ALT Altimmune Inc. 0.60% 96,225 $980K Reduce -16.5%
META Meta Platforms Inc. Class A 0.60% 2,000 $971K No change
STEW SRH Total Return Fund Inc. 0.55% 59,000 $889K No change
BUR Burford Capital Ltd. 0.54% 55,000 $878K Reduce -24.4%
BA The Boeing Co. 0.52% 4,400 $849K Add +120.0%
INTC Intel Corp. 0.51% 18,750 $828K No change
LNSR Lensar Inc. 0.50% 238,234 $809K Reduce -1.0%
TDOC Teladoc Health Inc. 0.48% 51,400 $776K New
PYPL PayPal Holdings Inc. 0.45% 11,000 $737K No change
PAAS Pan American Silver Corp. 0.42% 45,000 $679K No change
WOLF Wolfspeed Inc. 0.37% 20,600 $608K Add +174.7%
SNY Sanofi-ADR 0.33% 11,000 $535K No change
PFE Pfizer Inc. 0.33% 19,250 $534K Reduce -10.5%
GDXJ Vaneck Junior Gold Miners 0.33% 13,700 $531K No change
SPOT Spotify Technology SA 0.32% 2,000 $528K No change
EEM iShares MSCI Emerging Market 0.32% 12,500 $514K No change
LRCX Lam Research Corp. 0.30% 500 $486K No change
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.30% 12,500 $482K Add +25.0%
C Citigroup Inc. 0.28% 7,250 $458K No change
IOT Samsara Inc. Class A 0.23% 10,000 $378K New
EVO Evotec SE - Spon ADR 0.23% 47,797 $374K No change
PANW Palo Alto Networks Inc. 0.17% 1,000 $284K New
VRDN Viridian Therapeutics Inc. 0.16% 14,500 $254K Add +52.6%
JNJ Johnson & Johnson 0.15% 1,500 $237K No change
NOK Nokia Corp.-Spon ADR 0.11% 50,000 $177K No change
LCTX Lineage Cell Therapeutics Inc. 0.10% 107,751 $159K Add +13.7%
ARQ Arq Inc. 0.06% 16,000 $104K Add +18.6%
TBHC Brand House Collective Inc./T filed as KIRKLANDS INC 0.04% 25,415 $61K No change
OVID Ovid Therapeutics Inc. 0.04% 19,730 $60K Add +5.3%
AMARIN CORP PLC 0.01% 13,290 $12K No change

Options reported separately and not counted above: SPY puts ($21.2M), QQQ puts ($8.9M), SPYM puts ($3.7M), ALT calls ($1.2M), GLD puts ($1.0M), MU puts ($472K), TEVA calls ($317K), SPYM calls ($154K), BIDU calls ($105K), YETI calls ($96K), ESPR calls ($9K).

Other holdings (3): bonds, preferreds, convertibles and warrants · $3.3M (not counted above)
SecurityClassShares / PrincipalValueChange
ESPERION THERAPEUTICS (ESPR 4 11/15/25) NOTE 4.000%11/1 · principal 2,800,000$2.3MReduce -5.1%
COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) NOTE 1.500% 4/1 · principal 900,000$578KNew
REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) NOTE 1.750% 2/1 · principal 600,000$426KNew

Total filed on the 13F, all lines: $165.9M.

Portfolio Sells Q4 2023 → Q1 2024
REGN Regeneron Pharmaceuticals Reduce -13.1% 6.28% −1.07
XNCR Xencor Inc. Reduce -11.9% 2.85% −0.60
ARGX Argenx SE - ADR Reduce -1.2% 4.89% −0.44
ALT Altimmune Inc. Reduce -16.5% 0.60% −0.29
IMGN Immunogen Inc. Sold out 0.00% −0.28
BUR Burford Capital Ltd. Reduce -24.4% 0.54% −0.24
GLD SPDR Gold Shares Reduce -4.3% 2.78% −0.23
T AT&T Inc. Reduce -17.7% 0.70% −0.20
ALNY Alnylam Pharmaceuticals Inc. Sold out 0.00% −0.17
RBLX Roblox Corp. Class A Sold out 0.00% −0.16
PFE Pfizer Inc. Reduce -10.5% 0.33% −0.10
LNSR Lensar Inc. Reduce -1.0% 0.50% −0.08
BAC Bank of America Corp. Reduce -2.6% 2.92% −0.05
UNITED STS NAT GAS FD LP Sold out 0.00% −0.04
ORCL Oracle Corp. Reduce -7.4% 3.15% −0.03
GM General Motors Co. Reduce -12.5% 0.98% −0.01
ET Energy Transfer LP Reduce -0.2% 2.99% +0.06
ABBV Abbvie Inc. Reduce -2.1% 3.56% +0.11

Portfolio Buys Q4 2023 → Q1 2024
MU Micron Technology Inc. Add +2.9% 11.57% +2.50
BIDU Baidu Inc. - Spon ADR New 1.25% +1.25
TDOC Teladoc Health Inc. New 0.48% +0.48
GDX Vaneck Gold Miners ETF Add +120.9% 0.92% +0.47
TEVA Teva Pharmaceutical-SP ADR Add +118.0% 0.74% +0.46
AMGN Amgen Inc. Add +47.1% 1.80% +0.42
IOT Samsara Inc. Class A New 0.23% +0.23
ZBH Zimmer Biomet Holdings Inc. Add +18.1% 1.76% +0.23
PANW Palo Alto Networks Inc. New 0.17% +0.17
BA The Boeing Co. Add +120.0% 0.52% +0.17
WOLF Wolfspeed Inc. Add +174.7% 0.37% +0.15
CSCO Cisco Systems Inc. Add +20.0% 0.92% +0.06
ARQ Arq Inc. Add +18.6% 0.06% +0.04
LCTX Lineage Cell Therapeutics Inc. Add +13.7% 0.10% +0.03
VRDN Viridian Therapeutics Inc. Add +52.6% 0.16% +0.01
OVID Ovid Therapeutics Inc. Add +5.3% 0.04% −0.00
INCY Incyte Corp. Add +21.2% 1.81% −0.02
YETI Yeti Holdings Inc. Add +25.0% 0.30% −0.06
XJQCX Nuveen Credit Strategies Inc. Add +0.2% 1.42% −0.06
OI O-I Glass Inc. Add +3.0% 0.88% −0.06
GOOG Alphabet Inc. Class C Add +2.1% 6.71% −0.06
LFCR Lifecore Biomedical Inc. Add +9.6% 0.93% −0.17
BABA Alibaba Group Holding-SP ADR Add +1.3% 1.71% −0.30
PRTA Prothena Corp. PLC Add +27.4% 1.63% −0.46
RVNC Revance Therapeutics Inc. Add +2.5% 0.80% −0.75

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put New 40,500 $21.2M
QQQ Invesco QQQ Trust Series 1 put Reduce -63.6% 20,000 $8.9M
SPYM Ste STR SPDR PT S&P 500 ETF put Reduce -56.2% 60,000 $3.7M
GLD SPDR Gold Shares call Sold out 6,500 $1.2Mbefore exit
ALT Altimmune Inc. call Add +16.4% 121,000 $1.2M
BABA Alibaba Group Holding-SP ADR put Sold out 15,000 $1.2Mbefore exit
FXI iShares China Large-Cap ETF call Sold out 46,500 $1.1Mbefore exit
GLD SPDR Gold Shares put New 5,000 $1.0M
MU Micron Technology Inc. put New 4,000 $472K
GDX Vaneck Gold Miners ETF call Sold out 12,500 $388Kbefore exit
TDOC Teladoc Health Inc. call Sold out 15,000 $323Kbefore exit
TEVA Teva Pharmaceutical-SP ADR call New 22,500 $317K
SPYM Ste STR SPDR PT S&P 500 ETF call New 2,500 $154K
BIDU Baidu Inc. - Spon ADR call Reduce -86.7% 1,000 $105K
YETI Yeti Holdings Inc. call New 2,500 $96K
BABA Alibaba Group Holding-SP ADR call Sold out 1,200 $93Kbefore exit
INCY Incyte Corp. call Sold out 1,000 $63Kbefore exit
ARQ Arq Inc. call Sold out 4,000 $12Kbefore exit
ESPR Esperion Therapeutics Inc. call New 3,500 $9K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2023 → Q1 2024
ESPERION THERAPEUTICS (ESPR 4 11/15/25) NOTE 4.000%11/1 · principal Reduce -5.1% 2,800,000 $2.3M
COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) NOTE 1.500% 4/1 · principal New 900,000 $578K
REVANCE THERAPEUTICS INC (RVNC 1.75 02/15/27) NOTE 1.750% 2/1 · principal New 600,000 $426K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 80$382.2MMU, GOOG, AMD, AMZN, ARGX
Q1 2026 72$265.3MMU, GOOG, ARGX, CRVS, TEVA
Q4 2025 75$302.8MMU, GOOG, TEVA, ARGX, GDX
Q3 2025 78$264.0MMU, GOOG, ARGX, GDX, ORCL
Q2 2025 74$207.9MMU, GOOG, AMZN, ARGX, ORCL
Q1 2025 74$185.8MMU, GOOG, ARGX, AMZN, IAU
Q4 2024 78$197.6MMU, ARGX, GOOG, ITCI, AMZN
Q3 2024 79$191.8MMU, GOOG, ARGX, REGN, ITCI
Q2 2024 81$187.6MMU, GOOG, REGN, ARGX, ITCI
Q1 2024 69$162.5MMU, GOOG, REGN, ARGX, AMD