Montanova Capital, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Montanova Capital, LLC reported 94 stock positions worth $2.7 billion. Its top holding was Biohaven (BHVN) at 7.8% of the portfolio, followed by Arcutis Biotherapeutics (ARQT, 5.9%) and Intra-Cellular Therapies (ITCI, 4.5%). Compared with Q3 2024, it opened 16 new positions, sold out of 18, added to 19 and reduced 23. The biggest buy was a new position in Legend Biotech Corp.-ADR (LEGN) and the biggest sale Kura Oncology (KURA, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001569064
- Portfolio Value
- $2.7B (Q4 2024)
- SEC Filing
- 0001172661-25-001039 ↗ filed Feb 14, 2025
Holdings Value
Holdings 94 stocks · $2.7B
| BHVN Biohaven Ltd. | 7.78% | 5,620,271 | $209.9M | Add +8.1% |
| ARQT Arcutis Biotherapeutics Inc. | 5.88% | 11,399,138 | $158.8M | Add +6.3% |
| ITCI Intra-Cellular Therapies Inc. | 4.45% | 1,439,026 | $120.2M | No change |
| LEGN Legend Biotech Corp.-ADR | 4.21% | 3,496,234 | $113.8M | New |
| BNTC Benitec Biopharma Inc. | 4.19% | 8,960,009 | $113.2M | Add +1.5% |
| INSM Insmed Inc. | 4.12% | 1,611,561 | $111.3M | Reduce -1.5% |
| META Meta Platforms Inc. Class A | 3.69% | 170,338 | $99.7M | Add +1.1% |
| ETNB 89BIO Inc. | 2.96% | 10,202,696 | $79.8M | Add +27.7% |
| AMZN Amazon.com Inc. | 2.85% | 351,281 | $77.1M | Reduce -0.2% |
| APO Apollo Global Management Inc. | 2.84% | 464,140 | $76.7M | Reduce -0.2% |
| KO The Coca-Cola Co. | 2.62% | 1,137,853 | $70.8M | Add +93.2% |
| TSM Taiwan Semiconductor-SP ADR | 2.53% | 345,912 | $68.3M | Reduce -0.8% |
| TSLA Tesla Inc. | 2.45% | 163,630 | $66.1M | Reduce -15.6% |
| AVBP Arrivent Biopharma Inc. | 2.22% | 2,246,000 | $59.8M | Add +21.7% |
| EYPT Eyepoint Inc. | 1.87% | 6,783,091 | $50.5M | Add +31.1% |
| MSFT Microsoft Corp. | 1.85% | 118,397 | $49.9M | Add +22.7% |
| RARE Ultragenyx Pharmaceutical Inc. | 1.79% | 1,151,314 | $48.4M | No change |
| SBUX Starbucks Corp. | 1.74% | 514,922 | $47.0M | Reduce -6.4% |
| COF Capital One Financial Corp. | 1.66% | 251,642 | $44.9M | Add +6.8% |
| KURA Kura Oncology Inc. | 1.64% | 5,076,448 | $44.2M | Reduce -33.7% |
| FERG Ferguson Enterprises Inc. | 1.58% | 245,530 | $42.6M | Add +9.0% |
| GS Goldman Sachs Group Inc. | 1.57% | 74,198 | $42.5M | Reduce -31.5% |
| KALV Kalvista Pharmaceuticals Inc. | 1.54% | 4,913,012 | $41.6M | Add +16.6% |
| AMD Advanced Micro Devices | 1.51% | 337,415 | $40.8M | Reduce -2.6% |
| CRH CRH PLC | 1.50% | 436,394 | $40.4M | Reduce -19.0% |
| UNH Unitedhealth Group Inc. | 1.41% | 75,198 | $38.0M | Reduce -48.8% |
| ORCL Oracle Corp. | 1.40% | 226,318 | $37.7M | Reduce -4.5% |
| IMTX Immatics NV | 1.33% | 5,065,277 | $36.0M | New |
| BSX Boston Scientific Corp. | 1.32% | 397,679 | $35.5M | Add +58.0% |
| GE General Electric filed as GE AEROSPACE | 1.24% | 200,662 | $33.5M | No change |
| RCKT Rocket Pharmaceuticals Inc. | 1.20% | 2,566,951 | $32.3M | New |
| ERAS Erasca Inc. | 1.15% | 12,315,004 | $30.9M | Reduce -10.6% |
| MCD McDonald's Corp. | 1.11% | 103,638 | $30.0M | No change |
| VZ Verizon Communications Inc. | 1.09% | 738,414 | $29.5M | Reduce -2.7% |
| BA The Boeing Co. | 1.02% | 155,197 | $27.5M | New |
| CZR Caesars Entertainment Inc. | 0.96% | 772,412 | $25.8M | New |
| APLS Apellis Pharmaceuticals Inc. | 0.94% | 793,187 | $25.3M | New |
| DDOG Datadog Inc. Class A | 0.93% | 176,450 | $25.2M | New |
| CTNM Contineum Therapeutics Inc. Class A | 0.93% | 1,720,000 | $25.2M | No change |
| NVDA Nvidia Corp. | 0.90% | 180,756 | $24.3M | New |
| PROKIDNEY CORP | 0.77% | 12,341,266 | $20.9M | No change |
| ABEO Abeona Therapeutics Inc. | 0.76% | 3,685,503 | $20.5M | No change |
| JNJ Johnson & Johnson | 0.75% | 139,986 | $20.2M | Add +1.1% |
| UAL United Airlines Holdings Inc. | 0.72% | 200,650 | $19.5M | New |
| BIIB Biogen Inc. | 0.65% | 115,436 | $17.7M | Add +285.5% |
| DPZ Domino's Pizza Inc. | 0.60% | 38,340 | $16.1M | New |
| FULC Fulcrum Therapeutics Inc. | 0.58% | 3,338,466 | $15.7M | Add +182.3% |
| IFRX Inflarx NV | 0.52% | 5,733,910 | $14.2M | No change |
| STRO Sutro Biopharma Inc. Com SHS | 0.51% | 7,462,495 | $13.7M | Add +3.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.46% | 36,093 | $12.3M | Reduce -70.5% |
| ZURA Zura Bio Ltd. | 0.45% | 4,860,939 | $12.2M | No change |
| GLUE Monte Rosa Therapeutics Inc. | 0.40% | 1,563,798 | $10.9M | Reduce -41.2% |
| MOLN Molecular Partners AG -ADR | 0.39% | 2,221,494 | $10.5M | Add +455.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.39% | 94,580 | $10.5M | New |
| RCUS Arcus Biosciences Inc. | 0.32% | 576,156 | $8.6M | Reduce -13.2% |
| PVLA Palvella Therapeutics Inc. | 0.32% | 714,463 | $8.6M | New |
| BIOA Bioage Labs Inc. | 0.31% | 1,452,336 | $8.4M | Reduce -0.2% |
| SCPH Scpharmaceuticals Inc. | 0.24% | 1,840,891 | $6.5M | Reduce -10.2% |
| SNY Sanofi-ADR | 0.23% | 131,501 | $6.3M | Reduce -24.8% |
| GEHC GE Healthcare Technology | 0.22% | 75,000 | $5.9M | No change |
| EXAS Exact Sciences Corp. | 0.20% | 94,100 | $5.3M | No change |
| MRK Merck & Co. Inc. | 0.20% | 53,000 | $5.3M | New |
| KZR Kezar Life Sciences Inc. | 0.18% | 716,759 | $4.8M | No change |
| PEPG Pepgen Inc. | 0.16% | 1,174,321 | $4.5M | Reduce -29.3% |
| TMO Thermo Fisher Scientific Inc. | 0.15% | 7,900 | $4.1M | Add +8.8% |
| ABT Abbott Laboratories | 0.14% | 33,520 | $3.8M | No change |
| DHR Danaher Corp. | 0.12% | 13,600 | $3.1M | Reduce -17.2% |
| ELAN Elanco Animal Health Inc. | 0.11% | 253,600 | $3.1M | No change |
| COR Cencora Inc. | 0.10% | 12,488 | $2.8M | No change |
| ISRG Intuitive Surgical Inc. | 0.10% | 5,200 | $2.7M | No change |
| DXCM Dexcom Inc. | 0.09% | 31,680 | $2.5M | No change |
| MTD Mettler-Toledo International | 0.09% | 1,964 | $2.4M | No change |
| SRPT Sarepta Therapeutics Inc. | 0.08% | 17,888 | $2.2M | New |
| BMY Bristol-Myers Squibb Co. | 0.07% | 33,800 | $1.9M | New |
| NTRA Natera Inc. | 0.06% | 10,100 | $1.6M | No change |
| SYK Stryker Corp. | 0.06% | 4,360 | $1.6M | No change |
| AVTR Avantor Inc. | 0.06% | 71,850 | $1.5M | No change |
| IQV Iqvia Holdings Inc. | 0.05% | 7,175 | $1.4M | No change |
| MDT Medtronic PLC | 0.05% | 17,460 | $1.4M | No change |
| WAT Waters Corp. | 0.04% | 3,150 | $1.2M | No change |
| MCK McKesson Corp. | 0.04% | 1,830 | $1.0M | No change |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.04% | 37,111 | $1.0M | Reduce -21.4% |
| ELV Elevance Health Inc. | 0.04% | 2,740 | $1.0M | New |
| HCA HCA Healthcare Inc. | 0.04% | 3,190 | $957K | No change |
| EW Edwards Lifesciences Corp. | 0.03% | 11,100 | $822K | No change |
| A Agilent Technologies Inc. | 0.02% | 4,990 | $670K | No change |
| VLTO Veralto Corp. | 0.02% | 5,475 | $558K | No change |
| RMD Resmed Inc. | 0.02% | 2,390 | $547K | No change |
| IONS Ionis Pharmaceuticals Inc. | 0.01% | 10,800 | $378K | No change |
| ZBH Zimmer Biomet Holdings Inc. | 0.01% | 3,260 | $344K | No change |
| STE Steris PLC | 0.01% | 1,530 | $315K | No change |
| PACS Pacs Group Inc. | 0.01% | 20,000 | $262K | No change |
| BAX Baxter International Inc. | 0.01% | 7,970 | $232K | No change |
| ALGN Align Technology Inc. | 0.01% | 1,100 | $229K | No change |
Options reported separately and not counted above: SPY puts ($205.1M), TGTX calls ($29.5M).
Portfolio Sells Q3 2024 → Q4 2024
| KURA Kura Oncology Inc. | Reduce -33.7% | 1.64% | −3.73 |
| AAPL Apple Inc. | Sold out | 0.00% | −2.81 |
| ACLX Arcellx Inc. | Sold out | 0.00% | −2.07 |
| RPRX Royalty Pharma PLC Class A | Sold out | 0.00% | −1.89 |
| T AT&T Inc. | Sold out | 0.00% | −1.80 |
| UNH Unitedhealth Group Inc. | Reduce -48.8% | 1.41% | −1.67 |
| KDP Keurig Dr Pepper Inc. | Sold out | 0.00% | −0.95 |
| LVS Las Vegas Sands Corp. | Sold out | 0.00% | −0.87 |
| BIOA Bioage Labs Inc. | Reduce -0.2% | 0.31% | −0.77 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -70.5% | 0.46% | −0.77 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.72 |
| AMD Advanced Micro Devices | Reduce -2.6% | 1.51% | −0.53 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.46 |
| GS Goldman Sachs Group Inc. | Reduce -31.5% | 1.57% | −0.35 |
| PEPG Pepgen Inc. | Reduce -29.3% | 0.16% | −0.34 |
| MRNS Marinus Pharmaceuticals Inc. | Sold out | 0.00% | −0.32 |
| CRH CRH PLC | Reduce -19.0% | 1.50% | −0.30 |
| KWEB Kranesh Csi China Internet | Sold out | 0.00% | −0.28 |
| FXI iShares China Large-Cap ETF | Sold out | 0.00% | −0.28 |
| ERAS Erasca Inc. | Reduce -10.6% | 1.15% | −0.20 |
| SBUX Starbucks Corp. | Reduce -6.4% | 1.74% | −0.18 |
| TEVA Teva Pharmaceutical-SP ADR | Sold out | 0.00% | −0.17 |
| INSM Insmed Inc. | Reduce -1.5% | 4.12% | −0.16 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.14 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −0.14 |
| VZ Verizon Communications Inc. | Reduce -2.7% | 1.09% | −0.13 |
| SNY Sanofi-ADR | Reduce -24.8% | 0.23% | −0.13 |
| GLUE Monte Rosa Therapeutics Inc. | Reduce -41.2% | 0.40% | −0.10 |
| SCPH Scpharmaceuticals Inc. | Reduce -10.2% | 0.24% | −0.09 |
| ORCL Oracle Corp. | Reduce -4.5% | 1.40% | −0.05 |
| DHR Danaher Corp. | Reduce -17.2% | 0.12% | −0.05 |
| RCUS Arcus Biosciences Inc. | Reduce -13.2% | 0.32% | −0.05 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.04 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −0.04 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.04 |
| LKFT Lakefront Biotherapeutic-ADR | Reduce -21.4% | 0.04% | −0.01 |
| TECH Bio-Techne Corp. | Sold out | 0.00% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -0.8% | 2.53% | +0.36 |
| AMZN Amazon.com Inc. | Reduce -0.2% | 2.85% | +0.50 |
| TSLA Tesla Inc. | Reduce -15.6% | 2.45% | +0.63 |
| APO Apollo Global Management Inc. | Reduce -0.2% | 2.84% | +0.75 |
Portfolio Buys Q3 2024 → Q4 2024
| LEGN Legend Biotech Corp.-ADR | New | 4.21% | +4.21 |
| ARQT Arcutis Biotherapeutics Inc. | Add +6.3% | 5.88% | +2.30 |
| IMTX Immatics NV | New | 1.33% | +1.33 |
| BNTC Benitec Biopharma Inc. | Add +1.5% | 4.19% | +1.28 |
| RCKT Rocket Pharmaceuticals Inc. | New | 1.20% | +1.20 |
| KO The Coca-Cola Co. | Add +93.2% | 2.62% | +1.11 |
| BA The Boeing Co. | New | 1.02% | +1.02 |
| CZR Caesars Entertainment Inc. | New | 0.96% | +0.96 |
| APLS Apellis Pharmaceuticals Inc. | New | 0.94% | +0.94 |
| DDOG Datadog Inc. Class A | New | 0.93% | +0.93 |
| NVDA Nvidia Corp. | New | 0.90% | +0.90 |
| ETNB 89BIO Inc. | Add +27.7% | 2.96% | +0.83 |
| UAL United Airlines Holdings Inc. | New | 0.72% | +0.72 |
| AVBP Arrivent Biopharma Inc. | Add +21.7% | 2.22% | +0.66 |
| DPZ Domino's Pizza Inc. | New | 0.60% | +0.60 |
| BSX Boston Scientific Corp. | Add +58.0% | 1.32% | +0.56 |
| BIIB Biogen Inc. | Add +285.5% | 0.65% | +0.45 |
| FULC Fulcrum Therapeutics Inc. | Add +182.3% | 0.58% | +0.43 |
| COF Capital One Financial Corp. | Add +6.8% | 1.66% | +0.40 |
| DIS The Walt Disney Co. | New | 0.39% | +0.39 |
| EYPT Eyepoint Inc. | Add +31.1% | 1.87% | +0.39 |
| MSFT Microsoft Corp. | Add +22.7% | 1.85% | +0.36 |
| MOLN Molecular Partners AG -ADR | Add +455.4% | 0.39% | +0.32 |
| PVLA Palvella Therapeutics Inc. | New | 0.32% | +0.32 |
| META Meta Platforms Inc. Class A | Add +1.1% | 3.69% | +0.23 |
| MRK Merck & Co. Inc. | New | 0.20% | +0.20 |
| SRPT Sarepta Therapeutics Inc. | New | 0.08% | +0.08 |
| BMY Bristol-Myers Squibb Co. | New | 0.07% | +0.07 |
| ELV Elevance Health Inc. | New | 0.04% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +8.8% | 0.15% | −0.01 |
| FERG Ferguson Enterprises Inc. | Add +9.0% | 1.58% | −0.03 |
| JNJ Johnson & Johnson | Add +1.1% | 0.75% | −0.06 |
| KALV Kalvista Pharmaceuticals Inc. | Add +16.6% | 1.54% | −0.21 |
| STRO Sutro Biopharma Inc. Com SHS | Add +3.8% | 0.51% | −0.38 |
| BHVN Biohaven Ltd. | Add +8.1% | 7.78% | −1.55 |
Options Activity Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -36.4% | 350,000 | $205.1M |
| TGTX TG Therapeutics Inc. | call | New | 980,000 | $29.5M |
| INTC Intel Corp. | call | Sold out | 1,000,000 | $23.5Mbefore exit |
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 | 95 | $4.8B | MANE, ARQT, LEGN, PVLA, AVBP |
| Q1 2026 | 88 | $3.7B | ARQT, MANE, PVLA, APLS, LEGN |
| Q4 2025 | 90 | $4.0B | ARQT, BNTC, LEGN, EYPT, RCUS |
| Q3 2025 | 90 | $3.3B | ARQT, BNTC, META, LEGN, ETNB |
| Q2 2025 | 95 | $2.7B | ARQT, ETNB, LEGN, META, BNTC |
| Q1 2025 | 99 | $2.5B | ARQT, BHVN, BNTC, LEGN, INSM |
| Q4 2024 | 94 | $2.7B | BHVN, ARQT, ITCI, LEGN, BNTC |
| Q3 2024 | 96 | $2.8B | BHVN, KURA, INSM, ITCI, ARQT |
| Q2 2024 | 97 | $2.5B | BHVN, INSM, KURA, ITCI, ARQT |
| Q1 2024 | 99 | $2.4B | BHVN, KURA, ACLX, META, RARE |