Nantahala Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Nantahala Capital Management, LLC reported 127 stock positions worth $1.6 billion. Its top holding was Establishment Labs (ESTA) at 5.0% of the portfolio, followed by Hilton Grand Vacations (HGV, 4.3%) and Bancorp (TBBK, 4.0%). Compared with Q2 2025, it opened 17 new positions, sold out of 23, added to 24 and reduced 31. The biggest buy was a new position in Fractyl Health (GUTS) and the biggest sale Soleno Therapeutics (SLNO, shares −14%).
- Most Recent 13F
- Q2 2026
- Location
- NEW CANAAN, CT
- CIK
- 0001472322
- Portfolio Value
- $1.6B (Q3 2025)
- SEC Filing
- 0001104659-25-112624 ↗ filed Nov 14, 2025
Holdings Value
Holdings 127 stocks · $1.6B
| ESTA Establishment Labs Holdings | 5.01% | 1,973,492 | $80.9M | Add +11.2% |
| HGV Hilton Grand Vacations Inc. | 4.32% | 1,667,753 | $69.7M | Reduce -16.1% |
| TBBK The Bancorp Inc. | 3.95% | 852,334 | $63.8M | Reduce -12.0% |
| QURE Uniqure NV | 3.64% | 1,007,492 | $58.8M | Reduce -50.9% |
| SLNO Soleno Therapeutics Inc. | 3.61% | 863,763 | $58.4M | Reduce -13.7% |
| ABVX Abivax SA-ADR | 2.93% | 557,564 | $47.3M | Reduce -62.4% |
| XTNT Xtant Medical Holdings Inc. | 2.75% | 68,394,000 | $44.4M | No change |
| FULC Fulcrum Therapeutics Inc. | 2.66% | 4,670,784 | $43.0M | Add +8.9% |
| AMRX Amneal Pharmaceuticals Inc. | 2.62% | 4,224,564 | $42.3M | Reduce -3.3% |
| BVS Bioventus Inc. Class A | 2.41% | 5,810,662 | $38.9M | Add +10.0% |
| EOLS Evolus Inc. | 2.18% | 5,726,857 | $35.2M | Add +36.4% |
| PTON Peloton Interactive Inc. Class A | 2.06% | 3,697,700 | $33.3M | Add +13.2% |
| IMAX Imax Corp. | 2.02% | 996,150 | $32.6M | Reduce -12.2% |
| SVRA Savara Inc. | 1.94% | 8,775,375 | $31.3M | Add +5.4% |
| ETON Eton Pharmaceuticals Inc. | 1.58% | 1,175,951 | $25.6M | No change |
| ABEO Abeona Therapeutics Inc. | 1.49% | 4,564,665 | $24.1M | Add +4.5% |
| NKTR Nektar Therapeutics | 1.47% | 418,522 | $23.8M | Reduce -41.0% |
| COGT Cogent Biosciences Inc. | 1.34% | 1,506,989 | $21.6M | Reduce -9.0% |
| KROS Keros Therapeutics Inc. | 1.21% | 1,233,189 | $19.5M | Reduce -23.9% |
| GUTS Fractyl Health Inc. | 1.19% | 12,136,917 | $19.3M | New |
| SVC Service Pptys TR | 1.18% | 7,057,887 | $19.1M | Reduce -12.4% |
| IRON Disc Medicine Inc. | 1.18% | 287,800 | $19.0M | No change |
| CRMT America's Car-Mart Inc. | 1.17% | 644,686 | $18.8M | No change |
| ZVRA Zevra Therapeutics Inc. | 1.16% | 1,971,936 | $18.8M | Add +34.0% |
| TITN Titan Machinery Inc. | 1.14% | 1,096,232 | $18.4M | Reduce -3.5% |
| RMR RMR Group Inc./the - A | 1.12% | 1,147,902 | $18.1M | No change |
| FOXF Fox Factory Holding Corp. | 1.10% | 728,648 | $17.7M | No change |
| EB Eventbrite Inc. Class A | 1.07% | 6,831,395 | $17.2M | Add +7.0% |
| GMED Globus Medical Inc. Class A | 1.06% | 300,000 | $17.2M | New |
| RAPT Rapt Therapeutics Inc. | 0.99% | 623,282 | $16.1M | Reduce -34.5% |
| AVTX Avalo Therapeutics Inc. | 0.97% | 1,235,000 | $15.7M | Add +24.1% |
| PVLA Palvella Therapeutics Inc. | 0.97% | 250,062 | $15.7M | No change |
| FLWS 1-800-Flowers.com Inc. Class A | 0.96% | 3,368,065 | $15.5M | Add +68.4% |
| TNGX Tango Therapeutics Inc. | 0.94% | 1,809,948 | $15.2M | Reduce -47.4% |
| DNTH Dianthus Therapeutics Inc. | 0.91% | 375,000 | $14.8M | New |
| RDNW Ridenow Group Inc. | 0.89% | 3,272,845 | $14.4M | No change |
| AURA Aura Biosciences Inc. | 0.81% | 2,117,697 | $13.1M | No change |
| XNCR Xencor Inc. | 0.80% | 1,100,000 | $12.9M | Add +34.1% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.79% | 935,684 | $12.7M | Reduce -68.1% |
| GERN Geron Corp. | 0.77% | 9,025,000 | $12.4M | New |
| JACK Jack in the Box Inc. | 0.73% | 600,000 | $11.9M | No change |
| BNTC Benitec Biopharma Inc. | 0.73% | 838,095 | $11.8M | No change |
| VSTM Verastem Inc. | 0.71% | 1,292,903 | $11.4M | Reduce -56.2% |
| UPB Upstream Bio Inc. | 0.69% | 594,971 | $11.2M | No change |
| LBRX LB Pharmaceuticals Inc. | 0.66% | 675,000 | $10.7M | New |
| SLDB Solid Biosciences Inc. | 0.65% | 1,699,258 | $10.5M | Reduce -0.2% |
| JCAP Jefferson Capital Inc. | 0.64% | 600,000 | $10.4M | No change |
| GPCR Structure Therapeutics Inc. | 0.64% | 368,553 | $10.3M | Add +118.7% |
| MDXG Mimedx Group Inc. | 0.63% | 1,466,566 | $10.2M | New |
| CMPS Compass Pathways PLC | 0.61% | 1,729,930 | $9.9M | Reduce -58.6% |
| CDXS Codexis Inc. | 0.61% | 4,030,619 | $9.8M | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 0.61% | 404,803 | $9.8M | Reduce -27.0% |
| DRIO Dariohealth Corp. | 0.60% | 563,233 | $9.8M | Add +565.6% |
| ILPT Industrial Logistics Propert | 0.60% | 1,675,273 | $9.8M | Reduce -47.8% |
| FOSL Fossil Group Inc. | 0.59% | 3,741,157 | $9.6M | Reduce -26.5% |
| TLSI Trisalus Life Sciences Inc. | 0.59% | 2,040,245 | $9.5M | Add +2.0% |
| ADCT Adc Therapeutics SA | 0.56% | 2,266,289 | $9.1M | No change |
| DYN Dyne Therapeutics Inc. | 0.55% | 702,884 | $8.9M | Reduce -5.7% |
| AVR Anteris Technologies Global | 0.53% | 1,918,666 | $8.6M | Add +13.3% |
| RDVT Red Violet Inc. | 0.53% | 164,339 | $8.6M | Reduce -15.4% |
| CYTK Cytokinetics Inc. | 0.51% | 150,000 | $8.2M | New |
| NSPR Inspiremd Inc. | 0.50% | 3,376,484 | $8.1M | Add +45.7% |
| HLF Herbalife Ltd. | 0.49% | 942,431 | $8.0M | Add +14.6% |
| ATXS Astria Therapeutics Inc. | 0.48% | 1,069,530 | $7.8M | No change |
| ASSERTIO HOLDINGS INC | 0.48% | 8,810,073 | $7.8M | No change |
| RSVR Reservoir Media Inc. | 0.48% | 950,960 | $7.7M | Reduce -34.1% |
| XFOR X4 Pharmaceuticals Inc. | 0.47% | 2,228,350 | $7.6M | New |
| TELA Tela Bio Inc. | 0.47% | 5,111,588 | $7.6M | No change |
| EHTH Ehealth Inc. | 0.47% | 1,761,441 | $7.6M | Add +34.3% |
| ANEB Anebulo Pharmaceuticals Inc. | 0.47% | 3,036,325 | $7.6M | No change |
| DCTH Delcath Systems Inc. | 0.44% | 666,435 | $7.2M | New |
| APYX Apyx Medical Corp. | 0.44% | 3,338,048 | $7.1M | No change |
| VTGN Vistagen Therapeutics Inc. | 0.43% | 1,978,492 | $7.0M | No change |
| DSGR Distribution Solutions Group | 0.43% | 230,339 | $6.9M | Add +9.3% |
| ALTG Alta Equipment Group Inc. | 0.42% | 934,774 | $6.8M | Reduce -10.4% |
| DHX Dhi Group Inc. | 0.41% | 2,374,027 | $6.6M | No change |
| CMCO Columbus McKinnon Corp. | 0.40% | 450,000 | $6.5M | Add +121.0% |
| VMD Viemed Healthcare Inc. | 0.39% | 932,445 | $6.3M | No change |
| STKS One Group Hospitality Inc. filed as THE ONE GROUP HOSPITALITY IN | 0.39% | 2,121,084 | $6.3M | No change |
| MLYS Mineralys Therapeutics Inc. | 0.37% | 158,713 | $6.0M | Reduce -55.2% |
| DXLG Destination XL Group Inc. | 0.37% | 4,505,000 | $5.9M | Add +74.8% |
| IRD Opus Genetics Inc. | 0.34% | 3,345,923 | $5.5M | No change |
| AKBA Akebia Therapeutics Inc. | 0.34% | 2,000,000 | $5.5M | No change |
| GAIA Gaia Inc. | 0.34% | 914,618 | $5.4M | No change |
| SLN Silence Therapeutics PLC-ADR | 0.33% | 1,042,427 | $5.4M | No change |
| NNBR NN Inc. | 0.31% | 2,441,416 | $5.0M | No change |
| QUINCE THERAPEUTICS INC | 0.31% | 3,073,729 | $5.0M | Add +21.6% |
| SCPH Scpharmaceuticals Inc. | 0.30% | 861,277 | $4.9M | Reduce -13.5% |
| KOD Kodiak Sciences Inc. | 0.29% | 290,884 | $4.8M | Reduce -50.8% |
| HAIN Hain Celestial Group Inc. | 0.29% | 3,000,000 | $4.7M | No change |
| CGON CG Oncology Inc. | 0.27% | 109,449 | $4.4M | New |
| BRC INC-A | 0.25% | 2,630,517 | $4.1M | New |
| UNCY Unicycive Therapeutics Inc. | 0.25% | 939,202 | $4.1M | No change |
| AGIO Agios Pharmaceuticals Inc. | 0.25% | 100,000 | $4.0M | New |
| RYAM Rayonier Advanced Materials | 0.23% | 510,510 | $3.7M | New |
| IKT Inhibikase Therapeutics Inc. | 0.22% | 2,190,000 | $3.5M | No change |
| GRCE Grace Therapeutics Inc. | 0.22% | 1,178,203 | $3.5M | No change |
| AQST Aquestive Therapeutics Inc. | 0.21% | 600,000 | $3.4M | New |
| TLPH Talphera Inc. | 0.19% | 3,492,519 | $3.1M | Add +75.3% |
| NPCE Neuropace Inc. | 0.19% | 295,089 | $3.0M | No change |
| SRZN Surrozen Inc. | 0.18% | 229,527 | $3.0M | No change |
| ELDN Eledon Pharmaceuticals Inc. | 0.18% | 1,141,237 | $3.0M | No change |
| PAYO Payoneer Global Inc. | 0.18% | 483,836 | $2.9M | No change |
| NDLS Noodles & Co. | 0.18% | 4,505,489 | $2.9M | No change |
| KOS Kosmos Energy Ltd. | 0.18% | 1,716,593 | $2.8M | No change |
| ELUT Elutia Inc. | 0.18% | 3,184,947 | $2.8M | No change |
| RDI Reading International Inc. Class A | 0.17% | 1,921,088 | $2.8M | No change |
| CZR Caesars Entertainment Inc. | 0.17% | 98,879 | $2.7M | No change |
| MAZE Maze Therapeutics Inc. | 0.15% | 93,351 | $2.4M | New |
| SRL Scully Royalty Ltd. | 0.14% | 368,182 | $2.2M | No change |
| ACHV Achieve Life Sciences Inc. | 0.13% | 648,885 | $2.0M | Reduce -27.8% |
| AYTU Aytu Biopharma Inc. | 0.13% | 1,086,812 | $2.0M | No change |
| CNTX Context Therapeutics Inc. | 0.10% | 1,661,950 | $1.6M | Reduce -14.1% |
| EDSA Edesa Biotech Inc. | 0.10% | 625,000 | $1.5M | No change |
| BIOMX INC | 0.08% | 2,493,309 | $1.3M | No change |
| SNTI Senti Biosciences Inc. | 0.08% | 888,000 | $1.3M | No change |
| PERF Perfect Corp. | 0.07% | 583,925 | $1.1M | No change |
| KIDS Orthopediatrics Corp. | 0.06% | 49,449 | $916K | New |
| ACU Acme United Corp. filed as ACME UTD CORP | 0.05% | 20,427 | $841K | No change |
| SSKN Strata Skin Sciences Inc. | 0.05% | 403,917 | $832K | No change |
| EVOK Evoke Pharma Inc. | 0.05% | 148,153 | $736K | No change |
| SGRP Spar Group Inc. | 0.04% | 660,688 | $681K | No change |
| CASH Pathward Financial Inc. | 0.04% | 8,341 | $617K | No change |
| KPRX Kiora Pharmaceuticals Inc. | 0.03% | 156,427 | $435K | Reduce -25.9% |
| APRE Aprea Therapeutics Inc. | 0.02% | 205,760 | $303K | No change |
| ANIK Anika Therapeutics Inc. | 0.01% | 20,961 | $197K | New |
| LUCD Lucid Diagnostics Inc. | 0.01% | 94,541 | $95K | No change |
Options reported separately and not counted above: IWM puts ($641.2M), EW puts ($140.0M), XBI puts ($70.1M), HLF calls ($57.4M), TEVA calls ($50.5M), VTRS calls ($49.5M), PTON calls ($40.5M), KRYS puts ($35.3M), CWH calls ($31.6M), HGV calls ($24.0M), REGN calls ($22.5M), LYV puts ($21.3M), and 10 more.
Other holdings (4): bonds, preferreds, convertibles and warrants · $3.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ASPSW Altisource Portfolio - 30 | *W EXP 04/30/203 | 2,477,312 | $1.7M | No change |
| ASPSZ Altisource Portfolio - 29C | *W EXP 04/02/202 | 2,477,312 | $1.4M | No change |
| GFAIW Guardforce AI Co. Ltd. -CW26 | *W EXP 10/01/202 | 154,205 | $29K | No change |
| PERFF Perfect Corp. | *W EXP 10/28/202 | 16,075 | $348 | No change |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q2 2025 → Q3 2025
| SLNO Soleno Therapeutics Inc. | Reduce -13.7% | 3.61% | −2.33 |
| HGV Hilton Grand Vacations Inc. | Reduce -16.1% | 4.32% | −1.54 |
| THRD Third Harmonic Bio Inc. | Sold out | 0.00% | −1.13 |
| GOGO Gogo Inc. | Sold out | 0.00% | −1.09 |
| RZLT Rezolute Inc. | Sold out | 0.00% | −0.72 |
| TRML Tourmaline Bio Inc. | Sold out | 0.00% | −0.63 |
| DKS Dick's Sporting Goods Inc. | Sold out | 0.00% | −0.56 |
| AMLX Amylyx Pharmaceuticals Inc. | Reduce -68.1% | 0.79% | −0.55 |
| SNDX Syndax Pharmaceuticals Inc. | Sold out | 0.00% | −0.50 |
| TITN Titan Machinery Inc. | Reduce -3.5% | 1.14% | −0.46 |
| ILPT Industrial Logistics Propert | Reduce -47.8% | 0.60% | −0.43 |
| ITOS Iteos Therapeutics Inc. | Sold out | 0.00% | −0.42 |
| THTX Theratechnologies Inc. | Sold out | 0.00% | −0.41 |
| EYPT Eyepoint Inc. | Sold out | 0.00% | −0.40 |
| KROS Keros Therapeutics Inc. | Reduce -23.9% | 1.21% | −0.33 |
| CRGX Cargo Therapeutics Inc. | Sold out | 0.00% | −0.32 |
| TNGX Tango Therapeutics Inc. | Reduce -47.4% | 0.94% | −0.31 |
| RSVR Reservoir Media Inc. | Reduce -34.1% | 0.48% | −0.30 |
| VERV Verve Therapeutics Inc. | Sold out | 0.00% | −0.26 |
| IMAX Imax Corp. | Reduce -12.2% | 2.02% | −0.23 |
| CMPS Compass Pathways PLC | Reduce -58.6% | 0.61% | −0.22 |
| SVC Service Pptys TR | Reduce -12.4% | 1.18% | −0.18 |
| NVNO Envveno Medical Corporation | Sold out | 0.00% | −0.17 |
| VSTM Verastem Inc. | Reduce -56.2% | 0.71% | −0.16 |
| RDVT Red Violet Inc. | Reduce -15.4% | 0.53% | −0.15 |
| YMAB Y-Mabs Therapeutics Inc. | Sold out | 0.00% | −0.11 |
| ALTISOURCE PORTFOLIO SOLNS S | Sold out | 0.00% | −0.08 |
| OLPX Olaplex Holdings Inc. | Sold out | 0.00% | −0.06 |
| ALTG Alta Equipment Group Inc. | Reduce -10.4% | 0.42% | −0.05 |
| FBIO Fortress Biotech Inc. | Sold out | 0.00% | −0.04 |
| XGN Exagen Inc. | Sold out | 0.00% | −0.03 |
| LADR Ladder Capital Corp.-REIT | Sold out | 0.00% | −0.02 |
| PLCE The Children's Place Inc. | Sold out | 0.00% | −0.02 |
| ACHV Achieve Life Sciences Inc. | Reduce -27.8% | 0.13% | −0.02 |
| KPRX Kiora Pharmaceuticals Inc. | Reduce -25.9% | 0.03% | −0.02 |
| OKUR Onkure Therapeutics Inc. Class A | Sold out | 0.00% | −0.01 |
| URGN Urogen Pharma Ltd. | Sold out | 0.00% | −0.01 |
| TACT Transact Technologies Inc. | Sold out | 0.00% | −0.00 |
| BDSX Biodesix Inc. | Sold out | 0.00% | −0.00 |
| CNTX Context Therapeutics Inc. | Reduce -14.1% | 0.10% | +0.01 |
| MLYS Mineralys Therapeutics Inc. | Reduce -55.2% | 0.37% | +0.03 |
| SCPH Scpharmaceuticals Inc. | Reduce -13.5% | 0.30% | +0.03 |
| TBBK The Bancorp Inc. | Reduce -12.0% | 3.95% | +0.04 |
| DYN Dyne Therapeutics Inc. | Reduce -5.7% | 0.55% | +0.05 |
| SLDB Solid Biosciences Inc. | Reduce -0.2% | 0.65% | +0.06 |
| FOSL Fossil Group Inc. | Reduce -26.5% | 0.59% | +0.06 |
| CNTA Centessa Pharmaceuticals Ltd. | Reduce -27.0% | 0.61% | +0.09 |
| AMRX Amneal Pharmaceuticals Inc. | Reduce -3.3% | 2.62% | +0.11 |
| KOD Kodiak Sciences Inc. | Reduce -50.8% | 0.29% | +0.14 |
| NKTR Nektar Therapeutics | Reduce -41.0% | 1.47% | +0.17 |
Portfolio Buys Q2 2025 → Q3 2025
| GUTS Fractyl Health Inc. | New | 1.19% | +1.19 |
| GMED Globus Medical Inc. Class A | New | 1.06% | +1.06 |
| DNTH Dianthus Therapeutics Inc. | New | 0.91% | +0.91 |
| GERN Geron Corp. | New | 0.77% | +0.77 |
| LBRX LB Pharmaceuticals Inc. | New | 0.66% | +0.66 |
| MDXG Mimedx Group Inc. | New | 0.63% | +0.63 |
| AVTX Avalo Therapeutics Inc. | Add +24.1% | 0.97% | +0.62 |
| SVRA Savara Inc. | Add +5.4% | 1.94% | +0.59 |
| FULC Fulcrum Therapeutics Inc. | Add +8.9% | 2.66% | +0.57 |
| DRIO Dariohealth Corp. | Add +565.6% | 0.60% | +0.52 |
| CYTK Cytokinetics Inc. | New | 0.51% | +0.51 |
| XFOR X4 Pharmaceuticals Inc. | New | 0.47% | +0.47 |
| PTON Peloton Interactive Inc. Class A | Add +13.2% | 2.06% | +0.45 |
| DCTH Delcath Systems Inc. | New | 0.44% | +0.44 |
| GPCR Structure Therapeutics Inc. | Add +118.7% | 0.64% | +0.39 |
| XNCR Xencor Inc. | Add +34.1% | 0.80% | +0.34 |
| CGON CG Oncology Inc. | New | 0.27% | +0.27 |
| FLWS 1-800-Flowers.com Inc. Class A | Add +68.4% | 0.96% | +0.26 |
| BRC INC-A | New | 0.25% | +0.25 |
| AGIO Agios Pharmaceuticals Inc. | New | 0.25% | +0.25 |
| ZVRA Zevra Therapeutics Inc. | Add +34.0% | 1.16% | +0.24 |
| RYAM Rayonier Advanced Materials | New | 0.23% | +0.23 |
| AQST Aquestive Therapeutics Inc. | New | 0.21% | +0.21 |
| CMCO Columbus McKinnon Corp. | Add +121.0% | 0.40% | +0.18 |
| DXLG Destination XL Group Inc. | Add +74.8% | 0.37% | +0.16 |
| MAZE Maze Therapeutics Inc. | New | 0.15% | +0.15 |
| NSPR Inspiremd Inc. | Add +45.7% | 0.50% | +0.13 |
| TLPH Talphera Inc. | Add +75.3% | 0.19% | +0.13 |
| AVR Anteris Technologies Global | Add +13.3% | 0.53% | +0.08 |
| EHTH Ehealth Inc. | Add +34.3% | 0.47% | +0.07 |
| KIDS Orthopediatrics Corp. | New | 0.06% | +0.06 |
| DSGR Distribution Solutions Group | Add +9.3% | 0.43% | +0.02 |
| QUINCE THERAPEUTICS INC | Add +21.6% | 0.31% | +0.01 |
| ANIK Anika Therapeutics Inc. | New | 0.01% | +0.01 |
| HLF Herbalife Ltd. | Add +14.6% | 0.49% | −0.01 |
| BVS Bioventus Inc. Class A | Add +10.0% | 2.41% | −0.07 |
| EB Eventbrite Inc. Class A | Add +7.0% | 1.07% | −0.12 |
| TLSI Trisalus Life Sciences Inc. | Add +2.0% | 0.59% | −0.19 |
| ABEO Abeona Therapeutics Inc. | Add +4.5% | 1.49% | −0.27 |
| ESTA Establishment Labs Holdings | Add +11.2% | 5.01% | −0.37 |
| EOLS Evolus Inc. | Add +36.4% | 2.18% | −0.56 |
Options Activity Q2 2025 → Q3 2025
| IWM iShares Russell 2000 ETF | put | Reduce -26.4% | 2,650,000 | $641.2M |
| EW Edwards Lifesciences Corp. | put | New | 1,800,000 | $140.0M |
| XBI SS SPDR S&P Biotech ETF | put | Reduce -12.5% | 700,000 | $70.1M |
| HLF Herbalife Ltd. | call | Add +7.9% | 6,800,000 | $57.4M |
| TEVA Teva Pharmaceutical-SP ADR | call | Add +150.0% | 2,500,000 | $50.5M |
| PTON Peloton Interactive Inc. Class A | call | Add +50.0% | 4,500,000 | $40.5M |
| CWH Camping World Holdings Inc. Class A | call | Add +100.0% | 2,000,000 | $31.6M |
| REGN Regeneron Pharmaceuticals | call | New | 40,000 | $22.5M |
| GMED Globus Medical Inc. Class A | call | Sold out | 300,000 | $17.7Mbefore exit |
| HOOD Robinhood Markets Inc. Class A | put | New | 100,000 | $14.3M |
| URGN Urogen Pharma Ltd. | call | Sold out | 1,000,000 | $13.7Mbefore exit |
| ALGN Align Technology Inc. | call | New | 100,000 | $12.5M |
| SLNO Soleno Therapeutics Inc. | call | New | 100,000 | $6.8M |
| EOLS Evolus Inc. | call | Sold out | 100,000 | $921Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | Sold out | 248,506 | $149before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 128 | $1.6B | TBBK, BVS, HGV, SVRA, ETON |
| Q1 2026 | 125 | $1.6B | TBBK, HGV, SLNO, BVS, PTON |
| Q4 2025 | 127 | $1.7B | TBBK, ESTA, HGV, SLNO, XTNT |
| Q3 2025 | 127 | $1.6B | ESTA, HGV, TBBK, QURE, SLNO |
| Q2 2025 | 133 | $1.4B | SLNO, HGV, ESTA, TBBK, XTNT |
| Q1 2025 | 126 | $1.2B | SLNO, HGV, ESTA, EOLS, TBBK |
| Q4 2024 | 118 | $1.4B | SLNO, ESTA, HGV, PTON, TBBK |
| Q3 2024 | 119 | $1.2B | SLNO, ESTA, BVS, PTON, EOLS |
| Q2 2024Amended | 113 | $994.2M | SLNO, ESTA, PTON, EOLS, BVS |
| Q1 2024 | 107 | $1.0B | SLNO, ESTA, CASH, EOLS, IMAX |