Knoll Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Knoll Capital Management, LLC reported 33 stock positions worth $218.0 million. Its top holding was Aldeyra Therapeutics (ALDX) at 13.0% of the portfolio, followed by Biohaven Pharmaceutical Hold (12.1%) and Nuvation Bio (NUVB, 6.2%). Compared with Q3 2025, it opened 1 new position, sold out of 6, added to 4 and reduced 1. The biggest buy was Biohaven Pharmaceutical Hold (shares +160%) and the biggest sale an exit from Sandstorm Gold (SAND).
- Most Recent 13F
- Q2 2026
- Location
- MIAMI, FL
- CIK
- 0001325083
- Portfolio Value
- $218.0M (Q4 2025)
- SEC Filing
- 0001104659-26-016376 ↗ filed Feb 17, 2026
Holdings Value
Holdings 33 stocks · $218.0M
| ALDX Aldeyra Therapeutics Inc. | 13.01% | 5,475,516 | $28.4M | No change |
| BIOHAVEN PHARMACEUTICAL HOLD | 12.06% | 2,328,602 | $26.3M | Add +160.1% |
| NUVB Nuvation Bio Inc. | 6.16% | 1,498,591 | $13.4M | Add +46.2% |
| AVDL Avadel Pharmaceuticals plc | 5.93% | 600,000 | $12.9M | No change |
| GLD SPDR Gold Shares | 5.82% | 32,000 | $12.7M | No change |
| RGLD Royal Gold Inc. | 5.38% | 52,750 | $11.7M | Add +486.1% |
| KGC Kinross Gold Corp. | 5.30% | 410,000 | $11.5M | No change |
| ENTX Entera Bio Ltd. | 5.23% | 5,881,879 | $11.4M | No change |
| MGTX Meiragtx Holdings PLC | 4.56% | 1,250,000 | $9.9M | No change |
| SA Seabridge Gold Inc. | 4.30% | 317,003 | $9.4M | No change |
| AEM Agnico Eagle Mines Ltd. | 4.10% | 52,750 | $8.9M | No change |
| OCUL Ocular Therapeutix Inc. | 3.34% | 600,400 | $7.3M | No change |
| CGAU Centerra Gold Inc. | 3.28% | 497,402 | $7.1M | No change |
| SSRM SSR Mining Inc. | 2.46% | 245,000 | $5.4M | New |
| PAAS Pan American Silver Corp. | 2.38% | 100,035 | $5.2M | No change |
| FNV Franco-Nevada Corp. | 2.38% | 25,000 | $5.2M | No change |
| SLV iShares Silver Trust | 2.36% | 80,000 | $5.2M | No change |
| ELTX Elicio Therapeutics Inc. | 2.30% | 630,915 | $5.0M | No change |
| ALT Altimmune Inc. | 1.86% | 1,121,524 | $4.0M | No change |
| TFPM Triple Flag Precious Met | 0.90% | 58,800 | $2.0M | No change |
| AGI Alamos Gold Inc. Class A | 0.88% | 50,000 | $1.9M | No change |
| CDE Coeur Mining Inc. | 0.79% | 96,132 | $1.7M | No change |
| NEWP New Pacific Metals Corp. | 0.78% | 485,000 | $1.7M | No change |
| ITA iShares U.S. Aerospace & Def | 0.75% | 7,650 | $1.6M | No change |
| PM Philip Morris International | 0.74% | 10,000 | $1.6M | No change |
| WPM Wheaton Precious Metals Corp. | 0.67% | 12,500 | $1.5M | No change |
| ABEO Abeona Therapeutics Inc. | 0.57% | 235,953 | $1.2M | Add +276.4% |
| NOC Northrop Grumman Corp. | 0.57% | 2,165 | $1.2M | No change |
| BAH Booz Allen Hamilton Holdings | 0.50% | 13,000 | $1.1M | No change |
| DC Dakota Gold Corp. | 0.32% | 122,921 | $698K | No change |
| APLT Applied Therapeutics Inc. | 0.28% | 6,050,000 | $605K | Reduce -22.4% |
| CRDL Cardiol Therapeutics Inc. Class A | 0.04% | 100,000 | $95K | No change |
| Orgenesis, Inc. | 0.00% | 50,623 | $8K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| SAND Sandstorm Gold Ltd. | Sold out | 0.00% | −4.70 |
| APLT Applied Therapeutics Inc. | Reduce -22.4% | 0.28% | −2.25 |
| V Visa Inc. Class A | Sold out | 0.00% | −0.89 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.35 |
| MREO Mereo Biopharma Group PL-ADR | Sold out | 0.00% | −0.29 |
| HOOKIPA PHARMA INC | Sold out | 0.00% | −0.25 |
| OBIO Orchestra Biomed Holdings Inc. | Sold out | 0.00% | −0.23 |
Portfolio Buys Q3 2025 → Q4 2025
| BIOHAVEN PHARMACEUTICAL HOLD | Add +160.1% | 12.06% | +4.86 |
| RGLD Royal Gold Inc. | Add +486.1% | 5.38% | +4.41 |
| NUVB Nuvation Bio Inc. | Add +46.2% | 6.16% | +3.19 |
| SSRM SSR Mining Inc. | New | 2.46% | +2.46 |
| ABEO Abeona Therapeutics Inc. | Add +276.4% | 0.57% | +0.39 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 37 | $214.3M | BIOHAVEN PHARMACEUTICAL HOLD, MGTX, PHYS, ALDX, OCUL |
| Q1 2026 | 37 | $188.7M | BIOHAVEN PHARMACEUTICAL HOLD, PHYS, RGLD, MGTX, AEM |
| Q4 2025 | 33 | $218.0M | ALDX, BIOHAVEN PHARMACEUTICAL HOLD, NUVB, AVDL, GLD |
| Q3 2025 | 38 | $186.6M | ALDX, BIOHAVEN PHARMACEUTICAL HOLD, GLD, ENTX, MGTX |
| Q2 2025 | 38 | $140.7M | ALDX, BIOHAVEN PHARMACEUTICAL HOLD, ENTX, GLD, MGTX |
| Q1 2025 | 36 | $153.7M | ALDX, BIOHAVEN PHARMACEUTICAL HOLD, ENTX, GLD, MGTX |
| Q4 2024 | 35 | $155.3M | BIOHAVEN PHARMACEUTICAL HOLD, ALDX, ENTX, VRNA, ALT |
| Q3 2024 | 36 | $215.8M | APLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AGI, AVDL |
| Q2 2024 | 35 | $148.4M | APLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AVDL, ALT |
| Q1 2024 | 34 | $160.7M | APLT, BIOHAVEN PHARMACEUTICAL HOLD, ALDX, AVDL, GLD |