Kynam Capital Management, LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Kynam Capital Management, LP reported 35 stock positions worth $1.5 billion. Its top holding was Cogent Biosciences (COGT) at 14.3% of the portfolio, followed by Vera Therapeutics (VERA, 11.3%) and Syndax Pharmaceuticals (SNDX, 11.0%). Compared with Q3 2025, it opened 4 new positions, sold out of 4, added to 4 and reduced 24. The biggest buy was Cytomx Therapeutics (CTMX, shares +146%) and the biggest sale Viridian Therapeutics (VRDN, shares −67%).
- Most Recent 13F
- Q2 2026
- Location
- PRINCETON, NJ
- CIK
- 0001907884
- Portfolio Value
- $1.5B (Q4 2025)
- SEC Filing
- 0001907884-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 35 stocks · $1.5B
| COGT Cogent Biosciences Inc. | 14.26% | 6,165,223 | $219.0M | Reduce -21.8% |
| VERA Vera Therapeutics Inc. | 11.32% | 3,433,051 | $173.8M | Reduce -14.8% |
| SNDX Syndax Pharmaceuticals Inc. | 11.01% | 8,050,959 | $169.2M | Reduce -5.5% |
| CLDX Celldex Therapeutics Inc. | 10.51% | 5,943,180 | $161.4M | Reduce -2.6% |
| PCVX Vaxcyte Inc. | 8.78% | 2,922,335 | $134.8M | Reduce -4.9% |
| BCRX Biocryst Pharmaceuticals Inc. | 4.76% | 9,366,526 | $73.1M | Reduce -0.3% |
| BEAM Beam Therapeutics Inc. | 4.40% | 2,440,214 | $67.6M | Reduce -3.1% |
| VRDN Viridian Therapeutics Inc. | 2.98% | 1,470,541 | $45.8M | Reduce -66.8% |
| TYRA Tyra Biosciences Inc. | 2.68% | 1,564,492 | $41.1M | Reduce -32.9% |
| CGON CG Oncology Inc. | 2.56% | 945,830 | $39.3M | Reduce -52.8% |
| CTMX Cytomx Therapeutics Inc. | 2.49% | 8,966,077 | $38.2M | Add +145.9% |
| NRIX Nurix Therapeutics Inc. | 2.43% | 1,970,357 | $37.4M | Reduce -9.1% |
| WVE Wave Life Sciences Ltd. | 2.40% | 2,169,105 | $36.9M | Reduce -52.4% |
| CGEM Cullinan Therapeutics Inc. | 2.10% | 3,114,132 | $32.2M | Add +35.3% |
| IMCR Immunocore Holdings PLC-ADR | 1.94% | 856,462 | $29.7M | Reduce -15.1% |
| MBX MBX Biosciences Inc. | 1.92% | 934,799 | $29.5M | Reduce -53.3% |
| KALV Kalvista Pharmaceuticals Inc. | 1.90% | 1,810,954 | $29.2M | Add +198.8% |
| APLS Apellis Pharmaceuticals Inc. | 1.49% | 908,607 | $22.8M | Add +12.4% |
| DVAX Dynavax Technologies Corp. | 1.38% | 1,375,632 | $21.2M | Reduce -35.9% |
| BNR Burning Rock Biotech Ltd.-ADR | 1.31% | 994,883 | $20.0M | No change |
| TVTX Travere Therapeutics Inc. | 1.29% | 517,884 | $19.8M | Reduce -45.5% |
| PHVS Pharvaris NV | 1.16% | 640,395 | $17.8M | Reduce -5.1% |
| ENGN Engene Holdings Inc. | 0.88% | 1,492,898 | $13.5M | Reduce -70.1% |
| RLAY Relay Therapeutics Inc. | 0.78% | 1,424,259 | $12.0M | Reduce -50.7% |
| BHVN Biohaven Ltd. | 0.52% | 702,884 | $7.9M | New |
| DSGN Design Therapeutics Inc. | 0.48% | 784,606 | $7.4M | Reduce -23.8% |
| STRO Sutro Biopharma Inc. | 0.36% | 479,590 | $5.5M | Reduce -5.7% |
| AMRN Amarin Corp. PLC -ADR | 0.35% | 389,273 | $5.4M | Reduce -32.4% |
| GERN Geron Corp. | 0.30% | 3,456,318 | $4.6M | No change |
| CLYM Climb Bio Inc. | 0.27% | 1,028,341 | $4.1M | No change |
| CRBU Caribou Biosciences Inc. | 0.26% | 2,503,302 | $4.0M | Reduce -18.4% |
| EVMN Evommune Inc. | 0.21% | 185,482 | $3.2M | New |
| PRQR Proqr Therapeutics NV | 0.21% | 1,566,317 | $3.2M | Reduce -5.0% |
| ALEC Alector Inc. | 0.20% | 2,000,000 | $3.1M | New |
| PRLD Prelude Therapeutics Inc. | 0.15% | 788,867 | $2.3M | New |
Options reported separately and not counted above: BEAM calls ($26.0M), OMER puts ($3.4M).
Portfolio Sells Q3 2025 → Q4 2025
| VRDN Viridian Therapeutics Inc. | Reduce -66.8% | 2.98% | −4.14 |
| CGON CG Oncology Inc. | Reduce -52.8% | 2.56% | −3.46 |
| ENGN Engene Holdings Inc. | Reduce -70.1% | 0.88% | −1.66 |
| UTHR United Therapeutics Corp. | Sold out | 0.00% | −1.49 |
| CLDX Celldex Therapeutics Inc. | Reduce -2.6% | 10.51% | −1.24 |
| IMCR Immunocore Holdings PLC-ADR | Reduce -15.1% | 1.94% | −0.79 |
| MBX MBX Biosciences Inc. | Reduce -53.3% | 1.92% | −0.69 |
| BCRX Biocryst Pharmaceuticals Inc. | Reduce -0.3% | 4.76% | −0.55 |
| IRWD Ironwood Pharmaceuticals Inc. | Sold out | 0.00% | −0.53 |
| URGN Urogen Pharma Ltd. | Sold out | 0.00% | −0.52 |
| TVTX Travere Therapeutics Inc. | Reduce -45.5% | 1.29% | −0.40 |
| AMRN Amarin Corp. PLC -ADR | Reduce -32.4% | 0.35% | −0.35 |
| RLAY Relay Therapeutics Inc. | Reduce -50.7% | 0.78% | −0.34 |
| EWTX Edgewise Therapeutics Inc. | Sold out | 0.00% | −0.31 |
| CRBU Caribou Biosciences Inc. | Reduce -18.4% | 0.26% | −0.27 |
| DVAX Dynavax Technologies Corp. | Reduce -35.9% | 1.38% | −0.21 |
| BEAM Beam Therapeutics Inc. | Reduce -3.1% | 4.40% | −0.15 |
| DSGN Design Therapeutics Inc. | Reduce -23.8% | 0.48% | −0.10 |
| PHVS Pharvaris NV | Reduce -5.1% | 1.16% | −0.10 |
| WVE Wave Life Sciences Ltd. | Reduce -52.4% | 2.40% | −0.08 |
| PRQR Proqr Therapeutics NV | Reduce -5.0% | 0.21% | −0.06 |
| STRO Sutro Biopharma Inc. | Reduce -5.7% | 0.36% | +0.03 |
| TYRA Tyra Biosciences Inc. | Reduce -32.9% | 2.68% | +0.25 |
| PCVX Vaxcyte Inc. | Reduce -4.9% | 8.78% | +0.54 |
| NRIX Nurix Therapeutics Inc. | Reduce -9.1% | 2.43% | +0.94 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -5.5% | 11.01% | +1.25 |
| VERA Vera Therapeutics Inc. | Reduce -14.8% | 11.32% | +2.60 |
| COGT Cogent Biosciences Inc. | Reduce -21.8% | 14.26% | +5.83 |
Portfolio Buys Q3 2025 → Q4 2025
| CTMX Cytomx Therapeutics Inc. | Add +145.9% | 2.49% | +1.62 |
| KALV Kalvista Pharmaceuticals Inc. | Add +198.8% | 1.90% | +1.35 |
| CGEM Cullinan Therapeutics Inc. | Add +35.3% | 2.10% | +1.08 |
| BHVN Biohaven Ltd. | New | 0.52% | +0.52 |
| EVMN Evommune Inc. | New | 0.21% | +0.21 |
| ALEC Alector Inc. | New | 0.20% | +0.20 |
| PRLD Prelude Therapeutics Inc. | New | 0.15% | +0.15 |
| APLS Apellis Pharmaceuticals Inc. | Add +12.4% | 1.49% | +0.12 |
Options Activity Q3 2025 → Q4 2025
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 |