Kynam Capital Management, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Kynam Capital Management, LP reported 31 stock positions worth $1.2 billion. Its top holding was Natera (NTRA) at 14.1% of the portfolio, followed by Vaxcyte (PCVX, 10.3%) and Celldex Therapeutics (CLDX, 10.1%). Compared with Q4 2024, it opened 5 new positions, sold out of 3, added to 14 and reduced 4. The biggest buy was Immunocore Holdings PLC-ADR (IMCR, shares +38%) and the biggest sale Natera (NTRA, shares −42%).
- Most Recent 13F
- Q2 2026
- Location
- PRINCETON, NJ
- CIK
- 0001907884
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0001085146-25-003252 ↗ filed May 15, 2025
Holdings Value
Holdings 31 stocks · $1.2B
| NTRA Natera Inc. | 14.13% | 1,167,570 | $165.1M | Reduce -42.3% |
| PCVX Vaxcyte Inc. | 10.34% | 3,200,000 | $120.8M | Add +36.9% |
| CLDX Celldex Therapeutics Inc. | 10.09% | 6,500,000 | $118.0M | Add +28.4% |
| SNDX Syndax Pharmaceuticals Inc. | 8.96% | 8,520,000 | $104.7M | No change |
| BCRX Biocryst Pharmaceuticals Inc. | 5.73% | 8,928,523 | $67.0M | Reduce -1.7% |
| CGON CG Oncology Inc. | 5.47% | 2,611,662 | $64.0M | Add +3.6% |
| VRDN Viridian Therapeutics Inc. | 5.42% | 4,700,000 | $63.4M | Add +41.3% |
| VERA Vera Therapeutics Inc. | 4.93% | 2,400,000 | $57.6M | Add +64.6% |
| COGT Cogent Biosciences Inc. | 4.67% | 9,105,000 | $54.5M | No change |
| IMCR Immunocore Holdings PLC-ADR | 4.30% | 1,695,576 | $50.3M | Add +38.4% |
| BEAM Beam Therapeutics Inc. | 4.21% | 2,518,170 | $49.2M | Add +43.4% |
| WVE Wave Life Sciences Ltd. | 3.39% | 4,899,497 | $39.6M | No change |
| DVAX Dynavax Technologies Corp. | 2.91% | 2,620,797 | $34.0M | Reduce -60.0% |
| TVTX Travere Therapeutics Inc. | 2.76% | 1,802,750 | $32.3M | No change |
| TYRA Tyra Biosciences Inc. | 1.91% | 2,406,067 | $22.4M | Add +353.6% |
| ENGN Engene Holdings Inc. | 1.91% | 4,994,090 | $22.4M | No change |
| LEGN Legend Biotech Corp.-ADR | 1.77% | 610,000 | $20.7M | New |
| CGEM Cullinan Therapeutics Inc. | 1.51% | 2,338,629 | $17.7M | Add +86.7% |
| NRIX Nurix Therapeutics Inc. | 0.81% | 800,000 | $9.5M | New |
| LQDA Liquidia Corp. | 0.80% | 633,802 | $9.3M | Reduce -72.0% |
| IRWD Ironwood Pharmaceuticals Inc. | 0.73% | 5,822,938 | $8.6M | Add +24.3% |
| RLAY Relay Therapeutics Inc. | 0.69% | 3,063,292 | $8.0M | Add +206.3% |
| GERN Geron Corp. | 0.50% | 3,659,526 | $5.8M | New |
| AMARIN CORP PLC | 0.48% | 12,414,628 | $5.6M | No change |
| BNR Burning Rock Biotech Ltd.-ADR | 0.37% | 994,883 | $4.4M | No change |
| STRO Sutro Biopharma Inc. Com SHS | 0.30% | 5,441,447 | $3.5M | Add +49.4% |
| DSGN Design Therapeutics Inc. | 0.30% | 904,017 | $3.5M | New |
| CRBU Caribou Biosciences Inc. | 0.26% | 3,269,147 | $3.0M | Add +35.9% |
| PRQR Proqr Therapeutics NV | 0.20% | 1,750,000 | $2.3M | No change |
| CLYM Climb Bio Inc. | 0.11% | 1,047,000 | $1.3M | Add +91.4% |
| URGN Urogen Pharma Ltd. | 0.02% | 25,000 | $277K | New |
Options reported separately and not counted above: SLNO calls ($21.6M).
Portfolio Sells Q4 2024 → Q1 2025
| NTRA Natera Inc. | Reduce -42.3% | 14.13% | −6.99 |
| DVAX Dynavax Technologies Corp. | Reduce -60.0% | 2.91% | −2.62 |
| TSVT 2SEVENTY Bio Inc. | Sold out | 0.00% | −1.15 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −0.99 |
| LQDA Liquidia Corp. | Reduce -72.0% | 0.80% | −0.96 |
| SLRN Acelyrin Inc. | Sold out | 0.00% | −0.18 |
| BCRX Biocryst Pharmaceuticals Inc. | Reduce -1.7% | 5.73% | +1.22 |
Portfolio Buys Q4 2024 → Q1 2025
| IMCR Immunocore Holdings PLC-ADR | Add +38.4% | 4.30% | +1.92 |
| LEGN Legend Biotech Corp.-ADR | New | 1.77% | +1.77 |
| CLDX Celldex Therapeutics Inc. | Add +28.4% | 10.09% | +1.65 |
| TYRA Tyra Biosciences Inc. | Add +353.6% | 1.91% | +1.43 |
| BEAM Beam Therapeutics Inc. | Add +43.4% | 4.21% | +1.34 |
| VRDN Viridian Therapeutics Inc. | Add +41.3% | 5.42% | +1.22 |
| VERA Vera Therapeutics Inc. | Add +64.6% | 4.93% | +0.87 |
| NRIX Nurix Therapeutics Inc. | New | 0.81% | +0.81 |
| CGON CG Oncology Inc. | Add +3.6% | 5.47% | +0.71 |
| CGEM Cullinan Therapeutics Inc. | Add +86.7% | 1.51% | +0.51 |
| GERN Geron Corp. | New | 0.50% | +0.50 |
| RLAY Relay Therapeutics Inc. | Add +206.3% | 0.69% | +0.41 |
| DSGN Design Therapeutics Inc. | New | 0.30% | +0.30 |
| CLYM Climb Bio Inc. | Add +91.4% | 0.11% | +0.04 |
| URGN Urogen Pharma Ltd. | New | 0.02% | +0.02 |
| CRBU Caribou Biosciences Inc. | Add +35.9% | 0.26% | +0.00 |
| STRO Sutro Biopharma Inc. Com SHS | Add +49.4% | 0.30% | −0.14 |
| IRWD Ironwood Pharmaceuticals Inc. | Add +24.3% | 0.73% | −0.64 |
| PCVX Vaxcyte Inc. | Add +36.9% | 10.34% | −2.28 |
Options Activity Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 300,000 | $175.8Mbefore exit |
| SLNO Soleno Therapeutics Inc. | call | New | 302,500 | $21.6M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 32 | $1.8B | CLDX, SNDX, PCVX, COGT, VERA |
| Q1 2026 | 36 | $1.6B | SNDX, CLDX, PCVX, COGT, VERA |
| Q4 2025 | 35 | $1.5B | COGT, VERA, SNDX, CLDX, PCVX |
| Q3 2025 | 35 | $1.3B | CLDX, SNDX, VERA, COGT, PCVX |
| Q2 2025 | 31 | $928.8M | CLDX, PCVX, VERA, SNDX, BCRX |
| Q1 2025 | 31 | $1.2B | NTRA, PCVX, CLDX, SNDX, BCRX |
| Q4 2024 | 29 | $1.5B | NTRA, PCVX, CLDX, SNDX, DVAX |
| Q3 2024 | 24 | $1.3B | NTRA, PCVX, CLDX, SNDX, COGT |
| Q2 2024 | 22 | $955.2M | NTRA, CLDX, SNDX, DVAX, COGT |
| Q1 2024 | 21 | $898.9M | NTRA, SNDX, CLDX, VERA, COGT |