Lynx1 Capital Management LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Lynx1 Capital Management LP reported 14 stock positions worth $491.3 million. Its top holding was Merus (MRUS) at 29.4% of the portfolio, followed by Stoke Therapeutics (STOK, 22.4%) and GH Research (GHRS, 21.2%). Compared with Q2 2025, it opened 2 new positions, sold out of 3, added to 4 and reduced 4. The biggest buy was a new position in Adc Therapeutics (ADCT) and the biggest sale Allogene Therapeutics (ALLO, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- DORADO, PR
- CIK
- 0001910456
- Portfolio Value
- $491.3M (Q3 2025)
- SEC Filing
- 0001085146-25-005988 ↗ filed Nov 13, 2025
Holdings Value
Holdings 14 stocks · $491.3M
| MRUS Merus NV | 29.40% | 1,534,141 | $144.4M | Reduce -2.2% |
| STOK Stoke Therapeutics Inc. | 22.37% | 5,404,674 | $109.9M | No change |
| GHRS GH Research PLC | 21.23% | 8,601,189 | $104.3M | Add +27.5% |
| PTGX Protagonist Therapeutics Inc. | 9.47% | 700,014 | $46.5M | Reduce -4.5% |
| CGEM Cullinan Therapeutics Inc. | 6.96% | 5,766,090 | $34.2M | Add +31.0% |
| CCCC C4 Therapeutics Inc. | 3.21% | 7,098,133 | $15.8M | No change |
| TCRX Tscan Therapeutics Inc. | 2.91% | 7,857,347 | $14.3M | No change |
| DTIL Precision Biosciences Inc. | 1.17% | 1,042,596 | $5.8M | Add +0.6% |
| ADCT Adc Therapeutics SA | 1.08% | 1,325,848 | $5.3M | New |
| PASG Passage Bio Inc. | 1.02% | 623,704 | $5.0M | Add +34.8% |
| DNLI Denali Therapeutics Inc. | 0.77% | 261,687 | $3.8M | New |
| IBIO Ibio Inc. | 0.18% | 1,055,897 | $874K | Reduce -31.4% |
| ALLO Allogene Therapeutics Inc. | 0.14% | 546,119 | $677K | Reduce -95.1% |
| DSGN Design Therapeutics Inc. | 0.10% | 65,954 | $497K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| ALLO Allogene Therapeutics Inc. | Reduce -95.1% | 0.14% | −3.47 |
| PTGX Protagonist Therapeutics Inc. | Reduce -4.5% | 9.47% | −2.24 |
| UPB Upstream Bio Inc. | Sold out | 0.00% | −0.70 |
| IBIO Ibio Inc. | Reduce -31.4% | 0.18% | −0.16 |
| NEUP Neuphoria Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| ASMB Assembly Biosciences Inc. | Sold out | 0.00% | −0.05 |
| MRUS Merus NV | Reduce -2.2% | 29.40% | +5.56 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 27 | $865.5M | GHRS, CGEM, STOK, AGIO, CCCC |
| Q1 2026 | 23 | $632.7M | STOK, GHRS, CGEM, AGIO, DNLI |
| Q4 2025 | 22 | $494.0M | STOK, GHRS, CGEM, DNLI, CCCC |
| Q3 2025 | 14 | $491.3M | MRUS, STOK, GHRS, PTGX, CGEM |
| Q2 2025 | 15 | $346.2M | MRUS, GHRS, STOK, PTGX, CGEM |
| Q1 2025 | 14 | $279.2M | GHRS, MRUS, PTGX, STOK, CGEM |
| Q4 2024 | 18 | $266.7M | MRUS, STOK, GHRS, CCCC, ALLO |
| Q3 2024 | 18 | $282.2M | MRUS, STOK, CCCC, GHRS, TCRX |
| Q2 2024Amended | 17 | $277.2M | MRUS, STOK, GHRS, CCCC, TCRX |
| Q1 2024Amended | 16 | $388.2M | ALPN, MRUS, STOK, TCRX, CABA |