HighVista Strategies LLC

Name: HighVista Strategies LLC 13F holdings, Q4 2025
Creator: HighVista Strategies LLC
Published: 2026-02-17

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
CNTA Centessa Pharmaceuticals Ltd.	0.29%	44,490	$1.1M	Reduce -29.7%
PTC PTC Inc.	0.29%	6,374	$1.1M	Reduce -33.1%
MTZ Mastec Inc.	0.28%	5,027	$1.1M	Reduce -25.0%
SCHW Schwab (charles) Corp.	0.27%	10,601	$1.1M	Reduce -24.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD	0.27%	62,570	$1.0M	Reduce -42.8%
SNDK Sandisk Corp.	0.27%	4,378	$1.0M	Reduce -90.8%
PFSI Pennymac Financial Services	0.27%	7,806	$1.0M	Reduce -6.4%
AFRM Affirm Holdings Inc.	0.25%	13,086	$974K	Add +4.7%
CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A	0.25%	37,145	$966K	Reduce -48.0%
APH Amphenol Corp. Class A	0.25%	7,081	$957K	Reduce -54.0%
ETR Entergy Corp.	0.25%	10,328	$955K	Add +7.6%
SE Sea Ltd.-ADR	0.24%	7,450	$950K	Add +44.9%
YMM Full Truck Alliance -SPN ADR	0.24%	87,591	$940K	New
MELI MercadoLibre Inc.	0.24%	465	$937K	Reduce -7.0%
CORZ Core Scientific Inc.	0.24%	63,512	$925K	Reduce -15.5%
TYRA Tyra Biosciences Inc.	0.24%	35,086	$922K	Reduce -46.7%
VST Vistra Corp.	0.24%	5,673	$915K	New
CTMX Cytomx Therapeutics Inc.	0.21%	193,941	$826K	Reduce -24.6%
BVN Cia DE Minas Buenaventur-ADR filed as COMPANIA DE MINAS BUENAVENTU	0.21%	29,649	$825K	Reduce -64.3%
FOUR SHIFT4 Payments Inc. Class A	0.21%	12,982	$817K	Add +3.9%
HDB HDFC Bank Ltd.-ADR	0.21%	22,127	$809K	Reduce -32.3%
IBN Icici Bank Ltd.-Spon ADR	0.20%	26,284	$783K	Reduce -29.1%
ASND Ascendis Pharma A/S	0.20%	3,660	$780K	Reduce -48.3%
TCOM Trip.com Group Ltd.-ADR	0.20%	10,646	$766K	Add +9.1%
ALKS Alkermes PLC	0.19%	26,401	$739K	Reduce -40.1%
GTLB Gitlab Inc. Class A	0.19%	19,305	$725K	New
EDU New Oriental Educatio-SP ADR	0.18%	12,817	$705K	New
RBLX Roblox Corp. Class A	0.18%	8,431	$683K	Reduce -3.1%
ALC Alcon Inc. filed as ALCON AG	0.17%	10,440	$661K	Add +32.8%
URGN Urogen Pharma Ltd.	0.17%	28,005	$656K	Reduce -12.2%
CNX CNX Resources Corp.	0.17%	17,624	$648K	Reduce -43.7%
BBD Banco Bradesco-ADR	0.16%	190,264	$634K	Reduce -63.4%
MMM 3M Co.	0.16%	3,950	$632K	Reduce -48.0%
ALV Autoliv Inc.	0.16%	5,243	$622K	Reduce -39.7%
PBR.A Petroleo Brasil-SP Pref ADR	0.16%	55,200	$622K	Reduce -60.1%
XEL Xcel Energy Inc.	0.15%	8,058	$595K	New
AGX Argan Inc.	0.15%	1,896	$594K	Reduce -73.3%
CPNG Coupang Inc.	0.15%	24,792	$585K	Add +3.1%
JANX Janux Therapeutics Inc.	0.15%	41,443	$572K	Reduce -25.0%
KYMR Kymera Therapeutics Inc.	0.14%	6,835	$532K	Reduce -56.5%
JD Jd.com Inc.-ADR	0.13%	17,463	$501K	Reduce -25.3%
NKTR Nektar Therapeutics	0.13%	11,749	$497K	New
BZ Kanzhun Ltd. - ADR	0.11%	20,598	$420K	Add +9.0%
NOK Nokia Corp.-Spon ADR	0.10%	59,524	$385K	Reduce -28.2%
DBVT DBV Technologies SA-Spon ADR	0.08%	15,877	$304K	New

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