Knoll Capital Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Knoll Capital Management, LLC reported 38 stock positions worth $186.6 million. Its top holding was Aldeyra Therapeutics (ALDX) at 15.3% of the portfolio, followed by Biohaven Pharmaceutical Hold (7.2%) and SPDR Gold Shares (GLD, 6.1%). Compared with Q2 2025, it opened 3 new positions, sold out of 3 and reduced 3. The biggest buy was a new position in Pan American Silver (PAAS) and the biggest sale an exit from Skeena Resources (SKE).

Most Recent 13F
Q2 2026
Location
MIAMI, FL
CIK
0001325083
Portfolio Value
$186.6M (Q3 2025)
SEC Filing
0001104659-25-112578 ↗ filed Nov 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $160.7M Q1 2024 Q2 2024: $148.4M Q2 2024 Q3 2024: $215.8M Q3 2024 Q4 2024: $155.3M Q4 2024 Q1 2025: $153.7M Q1 2025 Q2 2025: $140.7M Q2 2025 Q3 2025: $186.6M $186.6M Q3 2025 Q4 2025: $218.0M Q4 2025 Q1 2026: $188.7M Q1 2026 Q2 2026: $214.3M Q2 2026

Holdings 38 stocks · $186.6M
ALDX Aldeyra Therapeutics Inc. 15.32% 5,475,516 $28.6M No change
BIOHAVEN PHARMACEUTICAL HOLD 7.20% 895,269 $13.4M No change
GLD SPDR Gold Shares 6.10% 32,000 $11.4M No change
ENTX Entera Bio Ltd. 6.05% 5,881,879 $11.3M No change
MGTX Meiragtx Holdings PLC 5.51% 1,250,000 $10.3M No change
KGC Kinross Gold Corp. 5.46% 410,000 $10.2M Reduce -6.8%
AVDL Avadel Pharmaceuticals plc 4.91% 600,000 $9.2M No change
AEM Agnico Eagle Mines Ltd. 4.76% 52,750 $8.9M Reduce -5.0%
SAND Sandstorm Gold Ltd. 4.70% 700,000 $8.8M No change
SA Seabridge Gold Inc. 4.10% 317,003 $7.7M No change
OCUL Ocular Therapeutix Inc. 3.76% 600,400 $7.0M No change
ELTX Elicio Therapeutics Inc. 3.70% 630,915 $6.9M No change
FNV Franco-Nevada Corp. 2.99% 25,000 $5.6M No change
NUVB Nuvation Bio Inc. 2.97% 1,025,000 $5.5M No change
CGAU Centerra Gold Inc. 2.86% 497,402 $5.3M Reduce -59.5%
APLT Applied Therapeutics Inc. 2.52% 7,799,687 $4.7M No change
ALT Altimmune Inc. 2.27% 1,121,524 $4.2M No change
PAAS Pan American Silver Corp. 2.08% 100,035 $3.9M New
SLV iShares Silver Trust 1.82% 80,000 $3.4M No change
RGLD Royal Gold Inc. 0.97% 9,000 $1.8M No change
CDE Coeur Mining Inc. 0.97% 96,132 $1.8M No change
AGI Alamos Gold Inc. Class A 0.93% 50,000 $1.7M No change
TFPM Triple Flag Precious Met 0.92% 58,800 $1.7M New
V Visa Inc. Class A 0.89% 4,850 $1.7M No change
PM Philip Morris International 0.87% 10,000 $1.6M No change
ITA iShares U.S. Aerospace & Def 0.86% 7,650 $1.6M No change
WPM Wheaton Precious Metals Corp. 0.75% 12,500 $1.4M No change
NOC Northrop Grumman Corp. 0.71% 2,165 $1.3M No change
NEWP New Pacific Metals Corp. 0.70% 485,000 $1.3M No change
BAH Booz Allen Hamilton Holdings 0.70% 13,000 $1.3M No change
DEO Diageo PLC-Sponsored ADR 0.35% 6,750 $644K No change
DC Dakota Gold Corp. 0.30% 122,921 $559K New
MREO Mereo Biopharma Group PL-ADR 0.29% 260,470 $537K No change
HOOKIPA PHARMA INC 0.25% 498,625 $461K No change
OBIO Orchestra Biomed Holdings Inc. 0.23% 455,128 $421K No change
ABEO Abeona Therapeutics Inc. 0.18% 62,689 $331K No change
CRDL Cardiol Therapeutics Inc. Class A 0.06% 100,000 $107K No change
Orgenesis, Inc. 0.03% 50,623 $51K No change

Portfolio Sells Q2 2025 → Q3 2025
SKE Skeena Resources Ltd. Sold out 0.00% −3.34
MAG Mag Silver Corp. Sold out 0.00% −2.55
VRNA Verona Pharma Ltd. Sold out 0.00% −0.47
AEM Agnico Eagle Mines Ltd. Reduce -5.0% 4.76% +0.07
KGC Kinross Gold Corp. Reduce -6.8% 5.46% +0.57
CGAU Centerra Gold Inc. Reduce -59.5% 2.86% +2.74

Portfolio Buys Q2 2025 → Q3 2025
PAAS Pan American Silver Corp. New 2.08% +2.08
TFPM Triple Flag Precious Met New 0.92% +0.92
DC Dakota Gold Corp. New 0.30% +0.30

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 37$214.3MBIOHAVEN PHARMACEUTICAL HOLD, MGTX, PHYS, ALDX, OCUL
Q1 2026 37$188.7MBIOHAVEN PHARMACEUTICAL HOLD, PHYS, RGLD, MGTX, AEM
Q4 2025 33$218.0MALDX, BIOHAVEN PHARMACEUTICAL HOLD, NUVB, AVDL, GLD
Q3 2025 38$186.6MALDX, BIOHAVEN PHARMACEUTICAL HOLD, GLD, ENTX, MGTX
Q2 2025 38$140.7MALDX, BIOHAVEN PHARMACEUTICAL HOLD, ENTX, GLD, MGTX
Q1 2025 36$153.7MALDX, BIOHAVEN PHARMACEUTICAL HOLD, ENTX, GLD, MGTX
Q4 2024 35$155.3MBIOHAVEN PHARMACEUTICAL HOLD, ALDX, ENTX, VRNA, ALT
Q3 2024 36$215.8MAPLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AGI, AVDL
Q2 2024 35$148.4MAPLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AVDL, ALT
Q1 2024 34$160.7MAPLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AVDL, GLD