HighVista Strategies LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), HighVista Strategies LLC reported 145 stock positions worth $388.3 million. Its top holding was Invesco DB Commodity Index T (DBC) at 6.1% of the portfolio, followed by Structure Therapeutics (GPCR, 3.5%) and Cogent Biosciences (COGT, 3.1%). Compared with Q3 2025, it opened 33 new positions, sold out of 36, added to 26 and reduced 86. The biggest buy was a new position in Terns Pharmaceuticals (TERN) and the biggest sale an exit from Merus (MRUS).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001335325
- Portfolio Value
- $388.3M (Q4 2025)
- SEC Filing
- 0001172661-26-000882 ↗ filed Feb 17, 2026
Holdings Value
Holdings 145 stocks · $388.3M
| DBC Invesco DB Commodity Index T | 6.09% | 1,057,238 | $23.6M | Reduce -26.4% |
| GPCR Structure Therapeutics Inc. | 3.46% | 193,001 | $13.4M | Reduce -18.3% |
| COGT Cogent Biosciences Inc. | 3.08% | 336,667 | $12.0M | Reduce -27.2% |
| VRDN Viridian Therapeutics Inc. | 2.99% | 372,472 | $11.6M | Reduce -20.6% |
| ABVX Abivax SA-ADR | 2.51% | 72,185 | $9.7M | Reduce -60.9% |
| RVMD Revolution Medicines Inc. | 2.47% | 120,240 | $9.6M | Reduce -31.5% |
| PRAX Praxis Precision Medicines I | 1.96% | 25,841 | $7.6M | Reduce -72.8% |
| NUVL Nuvalent Inc. Class A | 1.90% | 73,287 | $7.4M | Reduce -21.4% |
| CYTK Cytokinetics Inc. | 1.87% | 114,564 | $7.3M | Reduce -13.8% |
| TERN Terns Pharmaceuticals Inc. | 1.83% | 175,462 | $7.1M | New |
| MAZE Maze Therapeutics Inc. | 1.82% | 170,353 | $7.1M | New |
| INSM Insmed Inc. | 1.77% | 39,400 | $6.9M | Reduce -21.1% |
| APGE Apogee Therapeutics Inc. | 1.73% | 89,229 | $6.7M | Reduce -16.7% |
| PTGX Protagonist Therapeutics Inc. | 1.65% | 73,545 | $6.4M | Reduce -39.6% |
| SLNO Soleno Therapeutics Inc. | 1.61% | 135,069 | $6.3M | Add +622.3% |
| SYRE Spyre Therapeutics Inc. | 1.59% | 188,206 | $6.2M | Reduce -12.8% |
| BBIO Bridgebio Pharma Inc. | 1.58% | 80,205 | $6.1M | Reduce -2.1% |
| OLMA Olema Pharmaceuticals Inc. | 1.55% | 241,489 | $6.0M | Reduce -44.8% |
| IMVT Immunovant Inc. | 1.45% | 221,883 | $5.6M | Reduce -12.3% |
| LQDA Liquidia Corp. | 1.39% | 156,003 | $5.4M | Reduce -11.6% |
| PCVX Vaxcyte Inc. | 1.36% | 114,049 | $5.3M | Add +31.4% |
| CDTX Cidara Therapeutics Inc. | 1.30% | 22,928 | $5.1M | Reduce -67.7% |
| ACLX Arcellx Inc. | 1.26% | 75,002 | $4.9M | Reduce -22.0% |
| RLAY Relay Therapeutics Inc. | 1.19% | 545,079 | $4.6M | Add +126.7% |
| RYTM Rhythm Pharmaceuticals Inc. | 1.18% | 42,867 | $4.6M | Add +14.4% |
| MLYS Mineralys Therapeutics Inc. | 1.16% | 124,544 | $4.5M | Reduce -40.6% |
| PHVS Pharvaris NV | 1.16% | 162,370 | $4.5M | New |
| TARS Tarsus Pharmaceuticals Inc. | 1.13% | 53,564 | $4.4M | Add +115.5% |
| EWTX Edgewise Therapeutics Inc. | 1.09% | 171,137 | $4.2M | Reduce -17.8% |
| OCUL Ocular Therapeutix Inc. | 1.08% | 344,067 | $4.2M | Add +222.7% |
| AGIO Agios Pharmaceuticals Inc. | 1.04% | 147,662 | $4.0M | Reduce -24.4% |
| AMZN Amazon.com Inc. | 1.03% | 17,397 | $4.0M | Reduce -34.1% |
| APLS Apellis Pharmaceuticals Inc. | 0.98% | 150,776 | $3.8M | Add +3.5% |
| GH Guardant Health Inc. | 0.97% | 36,758 | $3.8M | Reduce -43.1% |
| STOK Stoke Therapeutics Inc. | 0.94% | 115,539 | $3.7M | New |
| CMPS Compass Pathways PLC | 0.89% | 498,933 | $3.4M | New |
| MSFT Microsoft Corp. | 0.81% | 6,537 | $3.2M | Reduce -30.9% |
| LBRX LB Pharmaceuticals Inc. | 0.80% | 140,107 | $3.1M | New |
| PALI Palisade Bio Inc. | 0.79% | 1,300,031 | $3.1M | New |
| GHRS GH Research PLC | 0.79% | 240,524 | $3.1M | Reduce -0.6% |
| ARGX Argenx SE - ADR | 0.78% | 3,588 | $3.0M | Reduce -11.8% |
| XOMA Xoma Royalty Corporation | 0.77% | 112,917 | $3.0M | Add +6.8% |
| TDG Transdigm Group Inc. | 0.74% | 2,175 | $2.9M | New |
| RNAM Avidity Biosciences Inc. | 0.74% | 40,020 | $2.9M | Reduce -39.0% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.74% | 238,812 | $2.9M | New |
| BBOT Bridgebio Oncology Therapeut | 0.74% | 229,263 | $2.9M | New |
| NVDA Nvidia Corp. | 0.68% | 14,220 | $2.7M | Add +6.1% |
| CRM Salesforce Inc. | 0.59% | 8,613 | $2.3M | Reduce -33.1% |
| V Visa Inc. Class A | 0.57% | 6,291 | $2.2M | Reduce -20.0% |
| SEPN Septerna Inc. | 0.56% | 78,682 | $2.2M | New |
| AXSM Axsome Therapeutics Inc. | 0.52% | 11,131 | $2.0M | Add +19.1% |
| DNTH Dianthus Therapeutics Inc. | 0.51% | 48,484 | $2.0M | Reduce -10.6% |
| GOOG Alphabet Inc. Class C | 0.51% | 6,277 | $2.0M | Reduce -36.0% |
| AVGO Broadcom Inc. | 0.50% | 5,639 | $2.0M | Reduce -44.7% |
| RKT Rocket Cos Inc. Class A | 0.49% | 97,430 | $1.9M | New |
| UNP Union Pacific Corp. | 0.48% | 8,058 | $1.9M | New |
| HPE Hewlett Packard Enterprise | 0.47% | 76,181 | $1.8M | Reduce -22.8% |
| AMRZ Amrize Ltd. | 0.47% | 33,468 | $1.8M | New |
| AVTX Avalo Therapeutics Inc. | 0.45% | 95,631 | $1.7M | Add +244.3% |
| FLS Flowserve Corp. | 0.45% | 24,958 | $1.7M | Reduce -36.0% |
| XPO Xpo Inc. | 0.45% | 12,723 | $1.7M | Reduce -39.6% |
| CEG Constellation Energy | 0.44% | 4,812 | $1.7M | Reduce -36.7% |
| META Meta Platforms Inc. Class A | 0.44% | 2,562 | $1.7M | Reduce -43.1% |
| APP AppLovin Corp. Class A | 0.43% | 2,482 | $1.7M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.43% | 2,839 | $1.7M | Reduce -19.7% |
| CELC Celcuity Inc. | 0.42% | 16,543 | $1.6M | Add +20.9% |
| LITE Lumentum Holdings Inc. | 0.41% | 4,317 | $1.6M | Reduce -66.6% |
| MA Mastercard Inc. Class A | 0.41% | 2,784 | $1.6M | Reduce -33.8% |
| CLF Cleveland-Cliffs Inc. | 0.41% | 118,574 | $1.6M | New |
| FERG Ferguson Enterprises Inc. | 0.40% | 6,973 | $1.6M | Reduce -27.9% |
| NEE Nextera Energy Inc. | 0.40% | 19,285 | $1.5M | Add +22.4% |
| UNF Unifirst Corp. | 0.38% | 7,727 | $1.5M | New |
| CLH Clean Harbors Inc. | 0.38% | 6,243 | $1.5M | Reduce -31.4% |
| EQT Eqt Corp. | 0.37% | 27,090 | $1.5M | New |
| CLDX Celldex Therapeutics Inc. | 0.36% | 51,805 | $1.4M | Reduce -61.7% |
| WDAY Workday Inc. Class A | 0.36% | 6,486 | $1.4M | Reduce -20.8% |
| TRVI Trevi Therapeutics Inc. | 0.34% | 106,159 | $1.3M | New |
| CMPX Compass Therapeutics Inc. | 0.34% | 245,532 | $1.3M | New |
| TMO Thermo Fisher Scientific Inc. | 0.34% | 2,269 | $1.3M | New |
| TLN Talen Energy Corp. | 0.34% | 3,488 | $1.3M | Reduce -31.6% |
| BKNG Booking Holdings Inc. | 0.34% | 243 | $1.3M | Add +54.8% |
| OFIX Orthofix Medical Inc. | 0.33% | 85,049 | $1.3M | Reduce -8.8% |
| ELVN Enliven Therapeutics Inc. | 0.33% | 82,536 | $1.3M | Reduce -68.2% |
| U Unity Software Inc. | 0.33% | 28,663 | $1.3M | Reduce -57.4% |
| NAMS Newamsterdam Pharma Co. NV | 0.32% | 35,586 | $1.2M | Add +11.8% |
| RDDT Reddit Inc. Class A | 0.31% | 5,300 | $1.2M | Reduce -15.9% |
| CGON CG Oncology Inc. | 0.31% | 29,325 | $1.2M | Add +12.6% |
| CIEN Ciena Corp. | 0.31% | 5,185 | $1.2M | New |
| RBC RBC Bearings Inc. | 0.31% | 2,703 | $1.2M | Reduce -22.8% |
| KBR KBR Inc. | 0.31% | 30,006 | $1.2M | Reduce -15.5% |
| INTU Intuit Inc. | 0.31% | 1,813 | $1.2M | Reduce -16.2% |
| APG Api Group Corp. | 0.30% | 30,958 | $1.2M | Reduce -34.6% |
| DYN Dyne Therapeutics Inc. | 0.30% | 59,643 | $1.2M | New |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.30% | 17,409 | $1.2M | Reduce -14.7% |
| ACHC Acadia Healthcare Co. Inc. | 0.30% | 81,630 | $1.2M | New |
| GEV GE Vernova Inc. | 0.30% | 1,768 | $1.2M | Add +7.2% |
| RXO Rxo Inc. | 0.30% | 90,938 | $1.1M | Add +12.4% |
| IMCR Immunocore Holdings PLC-ADR | 0.29% | 32,998 | $1.1M | New |
| UTHR United Therapeutics Corp. | 0.29% | 2,330 | $1.1M | New |
| QXO Qxo Inc. | 0.29% | 58,720 | $1.1M | Reduce -34.9% |
Portfolio Sells Q3 2025 → Q4 2025
| MRUS Merus NV | Sold out | 0.00% | −3.08 |
| DBC Invesco DB Commodity Index T | Reduce -26.4% | 6.09% | −1.84 |
| ABVX Abivax SA-ADR | Reduce -60.9% | 2.51% | −1.33 |
| AKRO Akero Therapeutics Inc. | Sold out | 0.00% | −1.28 |
| SNDK Sandisk Corp. | Reduce -90.8% | 0.27% | −1.04 |
| ELVN Enliven Therapeutics Inc. | Reduce -68.2% | 0.33% | −0.97 |
| AGIO Agios Pharmaceuticals Inc. | Reduce -24.4% | 1.04% | −0.89 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.81 |
| MLYS Mineralys Therapeutics Inc. | Reduce -40.6% | 1.16% | −0.79 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −0.68 |
| ACLX Arcellx Inc. | Reduce -22.0% | 1.26% | −0.68 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.65 |
| CRH CRH PLC | Sold out | 0.00% | −0.57 |
| SRRK Scholar Rock Holding Corp. | Sold out | 0.00% | −0.54 |
| PWR Quanta Services Inc. | Sold out | 0.00% | −0.53 |
| AVTR Avantor Inc. | Sold out | 0.00% | −0.53 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −0.50 |
| CLDX Celldex Therapeutics Inc. | Reduce -61.7% | 0.36% | −0.50 |
| DVAX Dynavax Technologies Corp. | Sold out | 0.00% | −0.47 |
| FN Fabrinet | Sold out | 0.00% | −0.46 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.42 |
| STX Seagate Technology Holdings | Sold out | 0.00% | −0.40 |
| MSFT Microsoft Corp. | Reduce -30.9% | 0.81% | −0.39 |
| AMZN Amazon.com Inc. | Reduce -34.1% | 1.03% | −0.39 |
| META Meta Platforms Inc. Class A | Reduce -43.1% | 0.44% | −0.37 |
| CNM Core & Main Inc. Class A | Sold out | 0.00% | −0.37 |
| ROIV Roivant Sciences Ltd. | Sold out | 0.00% | −0.37 |
| CRBP Corbus Pharmaceuticals Holdi | Sold out | 0.00% | −0.37 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.37 |
| CDTX Cidara Therapeutics Inc. | Reduce -67.7% | 1.30% | −0.36 |
| ENTG Entegris Inc. | Sold out | 0.00% | −0.36 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.35 |
| ADMA Adma Biologics Inc. | Sold out | 0.00% | −0.34 |
| EOLS Evolus Inc. | Sold out | 0.00% | −0.34 |
| U Unity Software Inc. | Reduce -57.4% | 0.33% | −0.33 |
| PGR Progressive Corp. | Sold out | 0.00% | −0.33 |
| PTGX Protagonist Therapeutics Inc. | Reduce -39.6% | 1.65% | −0.33 |
| AVGO Broadcom Inc. | Reduce -44.7% | 0.50% | −0.32 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −0.32 |
| AGX Argan Inc. | Reduce -73.3% | 0.15% | −0.32 |
| JCI Johnson Controls Internation | Sold out | 0.00% | −0.30 |
| CZR Caesars Entertainment Inc. | Sold out | 0.00% | −0.28 |
| BVN Cia DE Minas Buenaventur-ADR | Reduce -64.3% | 0.21% | −0.28 |
| BBD Banco Bradesco-ADR | Reduce -63.4% | 0.16% | −0.27 |
| NTRA Natera Inc. | Sold out | 0.00% | −0.26 |
| MAGN Magnera Corp. | Sold out | 0.00% | −0.25 |
| PBR.A Petroleo Brasil-SP Pref ADR | Reduce -60.1% | 0.16% | −0.24 |
| XPO Xpo Inc. | Reduce -39.6% | 0.45% | −0.22 |
| APH Amphenol Corp. Class A | Reduce -54.0% | 0.25% | −0.22 |
| TLN Talen Energy Corp. | Reduce -31.6% | 0.34% | −0.20 |
Portfolio Buys Q3 2025 → Q4 2025
| TERN Terns Pharmaceuticals Inc. | New | 1.83% | +1.83 |
| MAZE Maze Therapeutics Inc. | New | 1.82% | +1.82 |
| SLNO Soleno Therapeutics Inc. | Add +622.3% | 1.61% | +1.30 |
| PHVS Pharvaris NV | New | 1.16% | +1.16 |
| STOK Stoke Therapeutics Inc. | New | 0.94% | +0.94 |
| CMPS Compass Pathways PLC | New | 0.89% | +0.89 |
| RLAY Relay Therapeutics Inc. | Add +126.7% | 1.19% | +0.88 |
| LBRX LB Pharmaceuticals Inc. | New | 0.80% | +0.80 |
| PALI Palisade Bio Inc. | New | 0.79% | +0.79 |
| OCUL Ocular Therapeutix Inc. | Add +222.7% | 1.08% | +0.77 |
| TARS Tarsus Pharmaceuticals Inc. | Add +115.5% | 1.13% | +0.77 |
| TDG Transdigm Group Inc. | New | 0.74% | +0.74 |
| AMLX Amylyx Pharmaceuticals Inc. | New | 0.74% | +0.74 |
| BBOT Bridgebio Oncology Therapeut | New | 0.74% | +0.74 |
| PCVX Vaxcyte Inc. | Add +31.4% | 1.36% | +0.59 |
| SEPN Septerna Inc. | New | 0.56% | +0.56 |
| RKT Rocket Cos Inc. Class A | New | 0.49% | +0.49 |
| UNP Union Pacific Corp. | New | 0.48% | +0.48 |
| AMRZ Amrize Ltd. | New | 0.47% | +0.47 |
| APP AppLovin Corp. Class A | New | 0.43% | +0.43 |
| CLF Cleveland-Cliffs Inc. | New | 0.41% | +0.41 |
| UNF Unifirst Corp. | New | 0.38% | +0.38 |
| EQT Eqt Corp. | New | 0.37% | +0.37 |
| AVTX Avalo Therapeutics Inc. | Add +244.3% | 0.45% | +0.36 |
| TRVI Trevi Therapeutics Inc. | New | 0.34% | +0.34 |
| CMPX Compass Therapeutics Inc. | New | 0.34% | +0.34 |
| TMO Thermo Fisher Scientific Inc. | New | 0.34% | +0.34 |
| CIEN Ciena Corp. | New | 0.31% | +0.31 |
| DYN Dyne Therapeutics Inc. | New | 0.30% | +0.30 |
| ACHC Acadia Healthcare Co. Inc. | New | 0.30% | +0.30 |
| IMCR Immunocore Holdings PLC-ADR | New | 0.29% | +0.29 |
| UTHR United Therapeutics Corp. | New | 0.29% | +0.29 |
| CELC Celcuity Inc. | Add +20.9% | 0.42% | +0.26 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +14.4% | 1.18% | +0.25 |
| AXSM Axsome Therapeutics Inc. | Add +19.1% | 0.52% | +0.25 |
| YMM Full Truck Alliance -SPN ADR | New | 0.24% | +0.24 |
| VST Vistra Corp. | New | 0.24% | +0.24 |
| GTLB Gitlab Inc. Class A | New | 0.19% | +0.19 |
| EDU New Oriental Educatio-SP ADR | New | 0.18% | +0.18 |
| APLS Apellis Pharmaceuticals Inc. | Add +3.5% | 0.98% | +0.17 |
| XEL Xcel Energy Inc. | New | 0.15% | +0.15 |
| NKTR Nektar Therapeutics | New | 0.13% | +0.13 |
| BKNG Booking Holdings Inc. | Add +54.8% | 0.34% | +0.13 |
| NEE Nextera Energy Inc. | Add +22.4% | 0.40% | +0.11 |
| NAMS Newamsterdam Pharma Co. NV | Add +11.8% | 0.32% | +0.10 |
| DBVT DBV Technologies SA-Spon ADR | New | 0.08% | +0.08 |
| NVDA Nvidia Corp. | Add +6.1% | 0.68% | +0.07 |
| CGON CG Oncology Inc. | Add +12.6% | 0.31% | +0.06 |
| ALC Alcon Inc. | Add +32.8% | 0.17% | +0.06 |
| GEV GE Vernova Inc. | Add +7.2% | 0.30% | +0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 147 | $438.6M | DBC, ABVX, RVMD, DFTX, IMVT |
| Q1 2026 | 156 | $362.2M | DBC, ABVX, PRAX, COGT, SYRE |
| Q4 2025 | 145 | $388.3M | DBC, GPCR, COGT, VRDN, ABVX |
| Q3 2025 | 148 | $408.0M | DBC, ABVX, MRUS, VRDN, RVMD |
| Q2 2025 | 146 | $272.1M | DBC, VRDN, ANSS, MSFT, MRUS |
| Q1 2025 | 148 | $259.5M | DBC, HES, JNPR, ACI, ANSS |
| Q4 2024 | 137 | $268.8M | DBC, AMZN, HCP, MSFT, ANSS |
| Q3 2024 | 142 | $290.0M | DBC, AMZN, PCVX, ACLX, CTLT |
| Q2 2024 | 137 | $273.8M | DBC, INSM, MRUS, CRM, AXSM |
| Q1 2024 | 131 | $280.4M | DBC, APGE, SYRE, MRUS, MSFT |