DCF Advisers, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 11, 2025), DCF Advisers, LLC reported 78 stock positions worth $197.6 million. Its top holding was Micron Technology (MU) at 7.8% of the portfolio, followed by Argenx SE - ADR (ARGX, 6.2%) and Alphabet Class C (GOOG, 5.5%). Compared with Q3 2024, it opened 13 new positions, sold out of 14, added to 28 and reduced 18. The biggest buy was a new position in Energy Transfer L P and the biggest sale an exit from Energy Transfer (ET).
- Most Recent 13F
- Q2 2026
- Location
- MOUNT PLEASANT, SC
- CIK
- 0001802493
- Portfolio Value
- $197.6M (Q4 2024)
- SEC Filing
- 0001013594-25-000207 ↗ filed Feb 11, 2025
Holdings Value
Holdings 78 stocks · $197.6M
| MU Micron Technology Inc. | 7.82% | 183,500 | $15.4M | Add +4.0% |
| ARGX Argenx SE - ADR | 6.22% | 20,000 | $12.3M | No change |
| GOOG Alphabet Inc. Class C | 5.53% | 57,400 | $10.9M | Reduce -17.6% |
| ITCI Intra-Cellular Therapies Inc. | 4.22% | 99,757 | $8.3M | Reduce -0.8% |
| AMZN Amazon.com Inc. | 3.33% | 30,000 | $6.6M | Reduce -13.0% |
| REGN Regeneron Pharmaceuticals | 3.21% | 8,900 | $6.3M | Add +14.8% |
| ORCL Oracle Corp. | 3.08% | 36,500 | $6.1M | Add +4.3% |
| AMD Advanced Micro Devices | 3.06% | 50,000 | $6.0M | Add +31.6% |
| ENERGY TRANSFER L P | 2.97% | 299,250 | $5.9M | New |
| ABBV Abbvie Inc. | 2.83% | 31,500 | $5.6M | Add +1.6% |
| LLY Eli Lilly & Co. | 2.73% | 7,000 | $5.4M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.66% | 119,500 | $5.3M | No change |
| IAU iShares Gold Trust | 2.51% | 100,000 | $5.0M | No change |
| XNCR Xencor Inc. | 2.36% | 203,167 | $4.7M | Reduce -3.0% |
| GLD SPDR Gold Shares | 2.21% | 18,000 | $4.4M | No change |
| BIDU Baidu Inc. - Spon ADR | 2.04% | 47,750 | $4.0M | Add +34.5% |
| LFCR Lifecore Biomedical Inc. | 2.03% | 539,989 | $4.0M | Add +87.2% |
| SLV iShares Silver Trust | 1.93% | 145,000 | $3.8M | Reduce -3.0% |
| ALIBABA GROUP HLDG LTD | 1.90% | 44,250 | $3.8M | New |
| INCY Incyte Corp. | 1.70% | 48,500 | $3.3M | Add +0.5% |
| TEVA Teva Pharmaceutical-SP ADR | 1.65% | 147,500 | $3.3M | Add +30.5% |
| C Citigroup Inc. | 1.60% | 45,000 | $3.2M | Add +20.0% |
| IONS Ionis Pharmaceuticals Inc. | 1.47% | 82,882 | $2.9M | Add +109.8% |
| GDX Vaneck Gold Miners ETF | 1.42% | 82,500 | $2.8M | Add +10.0% |
| ZBH Zimmer Biomet Holdings Inc. | 1.22% | 22,819 | $2.4M | Reduce -2.1% |
| IWM iShares Russell 2000 ETF | 1.20% | 10,750 | $2.4M | No change |
| NAMS Newamsterdam Pharma Co. NV | 1.16% | 89,400 | $2.3M | Add +162.9% |
| XAODX Abrdn Total Dynamic Dividend | 1.11% | 261,500 | $2.2M | No change |
| LNSR Lensar Inc. | 1.04% | 230,055 | $2.1M | Reduce -4.4% |
| TPB Turning Point Brands Inc. | 1.02% | 33,515 | $2.0M | Reduce -53.3% |
| AAPL Apple Inc. | 1.01% | 8,000 | $2.0M | No change |
| ZM Zoom Communications Inc. | 0.93% | 22,500 | $1.8M | Add +28.6% |
| CSCO Cisco Systems Inc. | 0.90% | 30,000 | $1.8M | No change |
| BNED Barnes & Noble Education Inc. | 0.89% | 175,713 | $1.8M | Add +107.9% |
| XJQCX Nuveen Credit Strategies Inc. | 0.88% | 305,940 | $1.7M | Reduce -20.8% |
| URNM Sprott Uranium Miners ETF | 0.86% | 42,400 | $1.7M | Add +4.7% |
| ZLAB Zai Lab Ltd.-ADR | 0.86% | 64,750 | $1.7M | Add +53.3% |
| AVGO Broadcom Inc. | 0.82% | 7,000 | $1.6M | Add +40.0% |
| MRVL Marvell Technology Inc. | 0.81% | 14,500 | $1.6M | Add +16.0% |
| AMGN Amgen Inc. | 0.77% | 5,825 | $1.5M | Reduce -47.0% |
| UBER TECHNOLOGIES INC | 0.76% | 25,000 | $1.5M | New |
| PRTA Prothena Corp. PLC | 0.73% | 103,500 | $1.4M | Reduce -3.7% |
| PFE Pfizer Inc. | 0.69% | 51,350 | $1.4M | Add +49.5% |
| BHVN Biohaven Ltd. | 0.68% | 36,000 | $1.3M | Add +16.1% |
| GENERAL MTRS CO | 0.67% | 25,000 | $1.3M | New |
| BA The Boeing Co. | 0.63% | 7,000 | $1.2M | Add +68.7% |
| META Meta Platforms Inc. Class A | 0.59% | 2,000 | $1.2M | No change |
| BARRICK GOLD CORP | 0.56% | 72,000 | $1.1M | New |
| BOXX Alpha Architect 1-3 MNTH Box | 0.55% | 9,875 | $1.1M | No change |
| QCOM Qualcomm Inc. | 0.54% | 7,000 | $1.1M | No change |
| F Ford Motor Co. filed as FORD MTR CO | 0.50% | 100,000 | $990K | No change |
| EVO Evotec SE - Spon ADR | 0.48% | 229,871 | $956K | Add +5.9% |
| STEW SRH Total Return Fund Inc. | 0.48% | 59,000 | $945K | No change |
| GDXJ Vaneck Junior Gold Miners | 0.47% | 21,500 | $919K | Add +13.2% |
| SPOT Spotify Technology SA | 0.45% | 2,000 | $895K | Reduce -36.8% |
| PYPL PayPal Holdings Inc. | 0.43% | 10,000 | $854K | No change |
| DE Deere & Co. | 0.43% | 2,000 | $847K | Reduce -55.6% |
| INTC Intel Corp. | 0.42% | 41,250 | $827K | Reduce -8.3% |
| OI O-I Glass Inc. | 0.41% | 74,250 | $805K | No change |
| SNY Sanofi-ADR | 0.35% | 14,500 | $699K | Add +31.8% |
| BURFORD CAP LTD | 0.34% | 52,000 | $663K | New |
| CYBIN INC | 0.33% | 74,500 | $657K | New |
| ARQ INC | 0.30% | 78,000 | $590K | New |
| VRDN Viridian Therapeutics Inc. | 0.29% | 29,750 | $570K | Add +105.2% |
| LRCX Lam Research Corp. | 0.27% | 7,500 | $542K | Add +50.0% |
| ASTRAZENECA PLC | 0.27% | 8,000 | $524K | New |
| ISHARES TR | 0.26% | 12,500 | $523K | New |
| ALTIMMUNE INC | 0.25% | 68,868 | $497K | New |
| TDOC Teladoc Health Inc. | 0.24% | 52,500 | $477K | No change |
| FLUT Flutter Entertainment PLC-Di | 0.20% | 1,500 | $388K | Reduce -40.0% |
| GENMAB A/S | 0.17% | 16,500 | $344K | New |
| NOK Nokia Corp.-Spon ADR | 0.11% | 50,000 | $222K | No change |
| CORVUS PHARMACEUTICALS INC | 0.08% | 28,681 | $153K | New |
| WOLF Wolfspeed Inc. | 0.03% | 10,000 | $67K | Reduce -51.5% |
| LCTX Lineage Cell Therapeutics Inc. | 0.03% | 107,751 | $54K | No change |
| EQ Equillium Inc. | 0.02% | 62,947 | $47K | Add +91.0% |
| TBHC Brand House Collective Inc./T filed as KIRKLANDS INC | 0.02% | 24,165 | $39K | Reduce -4.9% |
| OVID Ovid Therapeutics Inc. | 0.01% | 11,750 | $11K | Reduce -20.3% |
Options reported separately and not counted above: VOO puts ($5.4M), MU calls ($1.6M), CSCO calls ($740K), ALTIMMUNE INC calls ($361K), TEVA calls ($331K), OI calls ($130K), IONS calls ($70K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $436K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| COHERUS BIOSCIENCES INC | NOTE 1.500% 4/1 · principal | 350,000 | $340K | New |
| ESPERION THERAPEUTICS INC NE | NOTE 4.000%11/1 · principal | 100,000 | $97K | New |
Total filed on the 13F, all lines: $198.0M.
Portfolio Sells Q3 2024 → Q4 2024
| ET Energy Transfer LP | Sold out | 0.00% | −2.59 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −2.39 |
| AMGN Amgen Inc. | Reduce -47.0% | 0.77% | −1.08 |
| B Barrick Gold Corp. | Sold out | 0.00% | −0.73 |
| GM General Motors Co. | Sold out | 0.00% | −0.70 |
| TPB Turning Point Brands Inc. | Reduce -53.3% | 1.02% | −0.60 |
| DE Deere & Co. | Reduce -55.6% | 0.43% | −0.55 |
| GOOG Alphabet Inc. Class C | Reduce -17.6% | 5.53% | −0.54 |
| BUR Burford Capital Ltd. | Sold out | 0.00% | −0.36 |
| EEM iShares MSCI Emerging Market | Sold out | 0.00% | −0.30 |
| XJQCX Nuveen Credit Strategies Inc. | Reduce -20.8% | 0.88% | −0.29 |
| SLV iShares Silver Trust | Reduce -3.0% | 1.93% | −0.28 |
| ARQ Arq Inc. | Sold out | 0.00% | −0.22 |
| RPRX Royalty Pharma PLC Class A | Sold out | 0.00% | −0.22 |
| PRTA Prothena Corp. PLC | Reduce -3.7% | 0.73% | −0.21 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.18 |
| MEOH Methanex Corp. | Sold out | 0.00% | −0.16 |
| SPOT Spotify Technology SA | Reduce -36.8% | 0.45% | −0.16 |
| INTC Intel Corp. | Reduce -8.3% | 0.42% | −0.13 |
| ALT Altimmune Inc. | Sold out | 0.00% | −0.12 |
| T AT&T Inc. | Sold out | 0.00% | −0.12 |
| FLUT Flutter Entertainment PLC-Di | Reduce -40.0% | 0.20% | −0.11 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -2.1% | 1.22% | −0.09 |
| WOLF Wolfspeed Inc. | Reduce -51.5% | 0.03% | −0.07 |
| NN Nextnav Inc. | Sold out | 0.00% | −0.07 |
| RVNC Revance Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -13.0% | 3.33% | −0.02 |
| TBHC Brand House Collective Inc./T | Reduce -4.9% | 0.02% | −0.01 |
| OVID Ovid Therapeutics Inc. | Reduce -20.3% | 0.01% | −0.00 |
| XNCR Xencor Inc. | Reduce -3.0% | 2.36% | +0.17 |
| ITCI Intra-Cellular Therapies Inc. | Reduce -0.8% | 4.22% | +0.38 |
| LNSR Lensar Inc. | Reduce -4.4% | 1.04% | +0.47 |
Portfolio Buys Q3 2024 → Q4 2024
| ENERGY TRANSFER L P | New | 2.97% | +2.97 |
| ALIBABA GROUP HLDG LTD | New | 1.90% | +1.90 |
| LFCR Lifecore Biomedical Inc. | Add +87.2% | 2.03% | +1.29 |
| NAMS Newamsterdam Pharma Co. NV | Add +162.9% | 1.16% | +0.87 |
| UBER TECHNOLOGIES INC | New | 0.76% | +0.76 |
| GENERAL MTRS CO | New | 0.67% | +0.67 |
| IONS Ionis Pharmaceuticals Inc. | Add +109.8% | 1.47% | +0.64 |
| TEVA Teva Pharmaceutical-SP ADR | Add +30.5% | 1.65% | +0.58 |
| BARRICK GOLD CORP | New | 0.56% | +0.56 |
| BNED Barnes & Noble Education Inc. | Add +107.9% | 0.89% | +0.48 |
| C Citigroup Inc. | Add +20.0% | 1.60% | +0.38 |
| AVGO Broadcom Inc. | Add +40.0% | 0.82% | +0.37 |
| MRVL Marvell Technology Inc. | Add +16.0% | 0.81% | +0.34 |
| BURFORD CAP LTD | New | 0.34% | +0.34 |
| CYBIN INC | New | 0.33% | +0.33 |
| ZLAB Zai Lab Ltd.-ADR | Add +53.3% | 0.86% | +0.33 |
| ARQ INC | New | 0.30% | +0.30 |
| BA The Boeing Co. | Add +68.7% | 0.63% | +0.30 |
| ZM Zoom Communications Inc. | Add +28.6% | 0.93% | +0.29 |
| ASTRAZENECA PLC | New | 0.27% | +0.27 |
| ISHARES TR | New | 0.26% | +0.26 |
| ALTIMMUNE INC | New | 0.25% | +0.25 |
| GENMAB A/S | New | 0.17% | +0.17 |
| PFE Pfizer Inc. | Add +49.5% | 0.69% | +0.17 |
| VRDN Viridian Therapeutics Inc. | Add +105.2% | 0.29% | +0.12 |
| BIDU Baidu Inc. - Spon ADR | Add +34.5% | 2.04% | +0.09 |
| CORVUS PHARMACEUTICALS INC | New | 0.08% | +0.08 |
| EVO Evotec SE - Spon ADR | Add +5.9% | 0.48% | +0.07 |
| LRCX Lam Research Corp. | Add +50.0% | 0.27% | +0.06 |
| INCY Incyte Corp. | Add +0.5% | 1.70% | +0.03 |
| SNY Sanofi-ADR | Add +31.8% | 0.35% | +0.02 |
| EQ Equillium Inc. | Add +91.0% | 0.02% | +0.01 |
| GDXJ Vaneck Junior Gold Miners | Add +13.2% | 0.47% | −0.02 |
| ORCL Oracle Corp. | Add +4.3% | 3.08% | −0.03 |
| URNM Sprott Uranium Miners ETF | Add +4.7% | 0.86% | −0.10 |
| BHVN Biohaven Ltd. | Add +16.1% | 0.68% | −0.13 |
| GDX Vaneck Gold Miners ETF | Add +10.0% | 1.42% | −0.14 |
| AMD Advanced Micro Devices | Add +31.6% | 3.06% | −0.20 |
| ABBV Abbvie Inc. | Add +1.6% | 2.83% | −0.36 |
| REGN Regeneron Pharmaceuticals | Add +14.8% | 3.21% | −1.04 |
| MU Micron Technology Inc. | Add +4.0% | 7.82% | −1.73 |
Options Activity Q3 2024 → Q4 2024
| VOO Vanguard S&P 500 ETF | put | Reduce -88.8% | 10,000 | $5.4M |
| MU Micron Technology Inc. | call | Add +660.0% | 19,000 | $1.6M |
| GLD SPDR Gold Shares | put | Sold out | 6,500 | $1.6Mbefore exit |
| MU Micron Technology Inc. | put | Sold out | 11,500 | $1.2Mbefore exit |
| AAPL Apple Inc. | put | Sold out | 5,000 | $1.2Mbefore exit |
| ORCL Oracle Corp. | put | Sold out | 6,000 | $1.0Mbefore exit |
| CSCO Cisco Systems Inc. | call | New | 12,500 | $740K |
| GDX Vaneck Gold Miners ETF | put | Sold out | 15,000 | $597Kbefore exit |
| AMZN Amazon.com Inc. | call | Sold out | 3,000 | $559Kbefore exit |
| BIDU Baidu Inc. - Spon ADR | put | Sold out | 5,000 | $526Kbefore exit |
| BIDU Baidu Inc. - Spon ADR | call | Sold out | 4,000 | $421Kbefore exit |
| ALTIMMUNE INC | call | New | 50,000 | $361K |
| ALT Altimmune Inc. | call | Sold out | 57,000 | $350Kbefore exit |
| TEVA Teva Pharmaceutical-SP ADR | call | Reduce -55.2% | 15,000 | $331K |
| C Citigroup Inc. | call | Sold out | 2,500 | $157Kbefore exit |
| OI O-I Glass Inc. | call | New | 12,000 | $130K |
| GDX Vaneck Gold Miners ETF | call | Sold out | 2,500 | $100Kbefore exit |
| IONS Ionis Pharmaceuticals Inc. | call | Reduce -50.0% | 2,000 | $70K |
| RPRX Royalty Pharma PLC Class A | call | Sold out | 1,000 | $28Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | Sold out | 2,250,000 | $2.1Mbefore exit |
| COHERUS BIOSCIENCES INC | NOTE 1.500% 4/1 · principal | New | 350,000 | $340K |
| COHERUS ONCOLOGY INC (CHRS 1.5 04/15/26) | NOTE 1.500% 4/1 · principal | Sold out | 350,000 | $275Kbefore exit |
| ESPERION THERAPEUTICS INC NE | NOTE 4.000%11/1 · principal | New | 100,000 | $97K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 80 | $382.2M | MU, GOOG, AMD, AMZN, ARGX |
| Q1 2026 | 72 | $265.3M | MU, GOOG, ARGX, CRVS, TEVA |
| Q4 2025 | 75 | $302.8M | MU, GOOG, TEVA, ARGX, GDX |
| Q3 2025 | 78 | $264.0M | MU, GOOG, ARGX, GDX, ORCL |
| Q2 2025 | 74 | $207.9M | MU, GOOG, AMZN, ARGX, ORCL |
| Q1 2025 | 74 | $185.8M | MU, GOOG, ARGX, AMZN, IAU |
| Q4 2024 | 78 | $197.6M | MU, ARGX, GOOG, ITCI, AMZN |
| Q3 2024 | 79 | $191.8M | MU, GOOG, ARGX, REGN, ITCI |
| Q2 2024 | 81 | $187.6M | MU, GOOG, REGN, ARGX, ITCI |
| Q1 2024 | 69 | $162.5M | MU, GOOG, REGN, ARGX, AMD |