Propel Bio Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Propel Bio Management, LLC reported 38 stock positions worth $158.7 million. Its top holding was Plains GP (PAGP) at 19.0% of the portfolio, followed by Achieve Life Sciences (ACHV, 7.2%) and Phathom Pharmaceuticals (PHAT, 5.9%). Compared with Q4 2025, it opened 22 new positions, sold out of 4, added to 6 and reduced 6. The biggest buy was a new position in Corcept Therapeutics (CORT) and the biggest sale Viridian Therapeutics (VRDN, shares −26%).
- Most Recent 13F
- Q2 2026
- Location
- Los Angeles, CA
- CIK
- 0001969764
- Portfolio Value
- $158.7M (Q1 2026)
- SEC Filing
- 0000898432-26-000369 ↗ filed May 14, 2026
Holdings Value
Holdings 38 stocks · $158.7M
| PAGP Plains GP Holdings LP | 19.02% | 1,272,360 | $30.2M | No change |
| ACHV Achieve Life Sciences Inc. | 7.17% | 3,786,425 | $11.4M | No change |
| PHAT Phathom Pharmaceuticals Inc. | 5.90% | 841,272 | $9.4M | Add +13.5% |
| DCTH Delcath Systems Inc. | 5.77% | 979,698 | $9.2M | Add +123.4% |
| CORT Corcept Therapeutics Inc. | 3.80% | 147,828 | $6.0M | New |
| ABEO Abeona Therapeutics Inc. | 3.79% | 1,329,899 | $6.0M | Add +60.1% |
| VOR Vor Biopharma Inc. | 3.52% | 314,543 | $5.6M | New |
| KYTX Kyverna Therapeutics Inc. | 3.52% | 644,421 | $5.6M | Reduce -3.3% |
| MIST Milestone Pharmaceuticals Inc. | 3.20% | 4,118,321 | $5.1M | No change |
| CLDX Celldex Therapeutics Inc. | 2.61% | 131,364 | $4.1M | Reduce -14.9% |
| CMPS Compass Pathways PLC | 2.60% | 742,049 | $4.1M | Reduce -13.9% |
| VRDN Viridian Therapeutics Inc. | 2.58% | 210,163 | $4.1M | Reduce -25.6% |
| IVA Inventiva SA - ADR | 2.52% | 724,678 | $4.0M | Reduce -27.5% |
| SABS Sab Biotherapeutics Inc. | 2.45% | 1,012,790 | $3.9M | Add +55.1% |
| OBIO Orchestra Biomed Holdings Inc. | 2.41% | 896,701 | $3.8M | New |
| FDMT 4D Molecular Therapeutics Inc. | 2.26% | 380,420 | $3.6M | New |
| OCS Oculis Holding AG | 2.07% | 122,223 | $3.3M | Reduce -29.3% |
| OCUL Ocular Therapeutix Inc. | 2.03% | 382,375 | $3.2M | New |
| UPB Upstream Bio Inc. | 1.95% | 341,779 | $3.1M | New |
| AQST Aquestive Therapeutics Inc. | 1.86% | 710,988 | $3.0M | New |
| EYPT Eyepoint Inc. | 1.76% | 215,825 | $2.8M | New |
| TRVI Trevi Therapeutics Inc. | 1.67% | 223,802 | $2.6M | New |
| ZVRA Zevra Therapeutics Inc. | 1.66% | 282,418 | $2.6M | Add +343.5% |
| IMUX Immunic Inc. | 1.65% | 2,344,779 | $2.6M | New |
| CHRS Coherus Oncology Inc. | 1.52% | 1,420,550 | $2.4M | New |
| OVID Ovid Therapeutics Inc. | 1.28% | 921,457 | $2.0M | New |
| PALI Palisade Bio Inc. | 1.26% | 1,115,000 | $2.0M | New |
| KLRS Kalaris Therapeutics Inc. | 1.08% | 295,771 | $1.7M | Add +603.3% |
| QURE Uniqure NV | 1.08% | 104,772 | $1.7M | New |
| LONA Leonabio Inc. | 0.94% | 149,279 | $1.5M | No change |
| NUVB Nuvation Bio Inc. | 0.89% | 329,296 | $1.4M | New |
| MAZE Maze Therapeutics Inc. | 0.82% | 43,798 | $1.3M | New |
| EVMN Evommune Inc. | 0.81% | 55,664 | $1.3M | New |
| CRVS Corvus Pharmaceuticals Inc. | 0.79% | 85,791 | $1.3M | New |
| ALDX Aldeyra Therapeutics Inc. | 0.78% | 730,606 | $1.2M | New |
| ARTV Artiva Biotherapeutics Inc. | 0.60% | 146,369 | $950K | New |
| CNTB Connect Biopharma Holdings L | 0.35% | 209,493 | $554K | New |
| MSLE Satellos Bioscience Inc. | 0.04% | 10,145 | $57K | New |
Portfolio Sells Q4 2025 → Q1 2026
| VRDN Viridian Therapeutics Inc. | Reduce -25.6% | 2.58% | −4.93 |
| NKTR Nektar Therapeutics | Sold out | 0.00% | −2.99 |
| CMPS Compass Pathways PLC | Reduce -13.9% | 2.60% | −2.48 |
| KYTX Kyverna Therapeutics Inc. | Reduce -3.3% | 3.52% | −1.83 |
| IVA Inventiva SA - ADR | Reduce -27.5% | 2.52% | −1.45 |
| RGNX Regenxbio Inc. | Sold out | 0.00% | −1.44 |
| CLDX Celldex Therapeutics Inc. | Reduce -14.9% | 2.61% | −0.97 |
| OCS Oculis Holding AG | Reduce -29.3% | 2.07% | −0.88 |
| LENZ Lenz Therapeutics Inc. | Sold out | 0.00% | −0.81 |
| AARD Aardvark Therapeutics Inc. | Sold out | 0.00% | −0.52 |
Portfolio Buys Q4 2025 → Q1 2026
| CORT Corcept Therapeutics Inc. | New | 3.80% | +3.80 |
| VOR Vor Biopharma Inc. | New | 3.52% | +3.52 |
| OBIO Orchestra Biomed Holdings Inc. | New | 2.41% | +2.41 |
| FDMT 4D Molecular Therapeutics Inc. | New | 2.26% | +2.26 |
| OCUL Ocular Therapeutix Inc. | New | 2.03% | +2.03 |
| DCTH Delcath Systems Inc. | Add +123.4% | 5.77% | +1.99 |
| UPB Upstream Bio Inc. | New | 1.95% | +1.95 |
| AQST Aquestive Therapeutics Inc. | New | 1.86% | +1.86 |
| EYPT Eyepoint Inc. | New | 1.76% | +1.76 |
| TRVI Trevi Therapeutics Inc. | New | 1.67% | +1.67 |
| IMUX Immunic Inc. | New | 1.65% | +1.65 |
| CHRS Coherus Oncology Inc. | New | 1.52% | +1.52 |
| OVID Ovid Therapeutics Inc. | New | 1.28% | +1.28 |
| PALI Palisade Bio Inc. | New | 1.26% | +1.26 |
| ZVRA Zevra Therapeutics Inc. | Add +343.5% | 1.66% | +1.18 |
| QURE Uniqure NV | New | 1.08% | +1.08 |
| NUVB Nuvation Bio Inc. | New | 0.89% | +0.89 |
| MAZE Maze Therapeutics Inc. | New | 0.82% | +0.82 |
| EVMN Evommune Inc. | New | 0.81% | +0.81 |
| CRVS Corvus Pharmaceuticals Inc. | New | 0.79% | +0.79 |
| KLRS Kalaris Therapeutics Inc. | Add +603.3% | 1.08% | +0.78 |
| ALDX Aldeyra Therapeutics Inc. | New | 0.78% | +0.78 |
| ARTV Artiva Biotherapeutics Inc. | New | 0.60% | +0.60 |
| SABS Sab Biotherapeutics Inc. | Add +55.1% | 2.45% | +0.36 |
| CNTB Connect Biopharma Holdings L | New | 0.35% | +0.35 |
| ABEO Abeona Therapeutics Inc. | Add +60.1% | 3.79% | +0.05 |
| MSLE Satellos Bioscience Inc. | New | 0.04% | +0.04 |
| PHAT Phathom Pharmaceuticals Inc. | Add +13.5% | 5.90% | −4.60 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 29 | $191.1M | PAGP, ACHV, CORT, PHAT, DCTH |
| Q1 2026 | 38 | $158.7M | PAGP, ACHV, PHAT, DCTH, CORT |
| Q4 2025 | 20 | $117.1M | PAGP, ACHV, PHAT, VRDN, MIST |
| Q3 2025 | 16 | $99.9M | PAGP, ACHV, AKRO, MIST, APLT |
| Q2 2025 | 16 | $82.4M | PAGP, ACHV, AKRO, PHAT, ABEO |
| Q1 2025 | 18 | $86.1M | PAGP, MDGL, AKRO, PHAT, ACHV |
| Q4 2024 | 21 | $100.7M | PAGP, MDGL, AKRO, ACHV, APLT |
| Q3 2024 | 21 | $172.4M | APLT, PAGP, PHAT, ACHV, TCRX |
| Q2 2024 | 24 | $154.2M | APLT, PAGP, TCRX, MDGL, ACHV |
| Q1 2024 | 28 | $171.8M | APLT, HIGH, TCRX, MDGL, ACHV |