Silverarc Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Silverarc Capital Management, LLC reported 56 stock positions worth $488.6 million. Its top holding was Merus (MRUS) at 8.0% of the portfolio, followed by Akero Therapeutics (AKRO, 7.8%) and Verona Pharma (VRNA, 6.9%). Compared with Q1 2025, it opened 12 new positions, sold out of 22, added to 18 and reduced 24. The biggest buy was a new position in CG Oncology (CGON) and the biggest sale Nuvalent Class A (NUVL, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001816307
- Portfolio Value
- $488.6M (Q2 2025)
- SEC Filing
- 0001420506-25-002146 ↗ filed Aug 14, 2025
Holdings Value
Holdings 56 stocks · $488.6M
| MRUS Merus NV | 7.99% | 741,972 | $39.0M | Reduce -8.5% |
| AKRO Akero Therapeutics Inc. | 7.80% | 713,811 | $38.1M | Reduce -0.9% |
| VRNA Verona Pharma Ltd. | 6.94% | 358,297 | $33.9M | Reduce -34.4% |
| URGN Urogen Pharma Ltd. | 5.67% | 2,022,482 | $27.7M | Add +46.4% |
| RYTM Rhythm Pharmaceuticals Inc. | 5.18% | 400,772 | $25.3M | Add +18.7% |
| INSM Insmed Inc. | 5.13% | 249,060 | $25.1M | Reduce -22.5% |
| KALV Kalvista Pharmaceuticals Inc. | 4.24% | 1,832,171 | $20.7M | Add +7.8% |
| NBIX Neurocrine Biosciences Inc. | 4.19% | 162,969 | $20.5M | Add +124.5% |
| ETNB 89BIO Inc. | 4.09% | 2,037,087 | $20.0M | Add +34.9% |
| ORIC Oric Pharmaceuticals Inc. | 3.74% | 1,800,829 | $18.3M | Reduce -12.6% |
| NUVL Nuvalent Inc. Class A | 3.68% | 235,583 | $18.0M | Reduce -46.3% |
| SLNO Soleno Therapeutics Inc. | 3.51% | 204,591 | $17.1M | Add +22.9% |
| ASND Ascendis Pharma A/S | 3.06% | 86,552 | $14.9M | Add +14.3% |
| CGON CG Oncology Inc. | 2.88% | 541,034 | $14.1M | New |
| VCYT Veracyte Inc. | 2.48% | 448,495 | $12.1M | Reduce -29.2% |
| SRRK Scholar Rock Holding Corp. | 2.47% | 341,010 | $12.1M | New |
| RNAM Avidity Biosciences Inc. | 2.38% | 410,000 | $11.6M | Reduce -0.3% |
| PCVX Vaxcyte Inc. | 1.91% | 287,796 | $9.4M | New |
| PFE Pfizer Inc. | 1.71% | 344,338 | $8.3M | New |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.33% | 613,393 | $6.5M | No change |
| GOSS Gossamer Bio Inc. | 1.30% | 5,146,782 | $6.3M | Reduce -18.6% |
| MTSR Metsera Inc. | 1.21% | 207,581 | $5.9M | Add +84.1% |
| ELUT Elutia Inc. | 1.12% | 2,761,684 | $5.5M | Add +3.4% |
| CGEN Compugen Ltd. | 1.11% | 3,033,879 | $5.4M | Add +4.8% |
| TELA Tela Bio Inc. | 1.10% | 2,779,795 | $5.4M | Add +0.3% |
| ABEO Abeona Therapeutics Inc. | 1.07% | 917,898 | $5.2M | New |
| CDTX Cidara Therapeutics Inc. | 1.04% | 103,943 | $5.1M | New |
| CLDX Celldex Therapeutics Inc. | 0.83% | 198,441 | $4.0M | Reduce -3.6% |
| AARD Aardvark Therapeutics Inc. | 0.79% | 286,807 | $3.9M | Add +140.0% |
| MLTX Moonlake Immunotherapeutics | 0.79% | 82,023 | $3.9M | New |
| SNDX Syndax Pharmaceuticals Inc. | 0.77% | 402,964 | $3.8M | Reduce -69.2% |
| GPCR Structure Therapeutics Inc. | 0.75% | 175,636 | $3.6M | Reduce -6.6% |
| CERS Cerus Corp. | 0.72% | 2,488,291 | $3.5M | Add +1.3% |
| ERAS Erasca Inc. | 0.67% | 2,569,591 | $3.3M | Reduce -65.1% |
| CMPX Compass Therapeutics Inc. | 0.67% | 1,249,781 | $3.2M | Add +42.9% |
| SION Sionna Therapeutics Inc. | 0.66% | 186,015 | $3.2M | Add +63.0% |
| BNTC Benitec Biopharma Inc. | 0.61% | 253,234 | $3.0M | Add +1.3% |
| TRVI Trevi Therapeutics Inc. | 0.60% | 539,587 | $3.0M | Add +1.8% |
| QURE Uniqure NV | 0.58% | 202,565 | $2.8M | Reduce -0.4% |
| KNSA Kiniksa Pharmaceuticals Inte | 0.43% | 75,959 | $2.1M | Reduce -13.9% |
| ORKA Oruka Therapeutics Inc. | 0.38% | 165,389 | $1.9M | New |
| DNTH Dianthus Therapeutics Inc. | 0.37% | 95,806 | $1.8M | Reduce -49.7% |
| TRML Tourmaline Bio Inc. | 0.36% | 109,257 | $1.7M | New |
| MLYS Mineralys Therapeutics Inc. | 0.32% | 115,282 | $1.6M | Reduce -65.9% |
| KOD Kodiak Sciences Inc. | 0.31% | 401,540 | $1.5M | Reduce -9.1% |
| DCTH Delcath Systems Inc. | 0.29% | 103,026 | $1.4M | Reduce -46.2% |
| MERSANA THERAPEUTICS INC | 0.19% | 3,128,421 | $926K | Add +1.3% |
| RADX Radiopharm Theranostics Ltd. | 0.18% | 187,406 | $870K | No change |
| MODULAR MED INC | 0.11% | 710,363 | $529K | Reduce -25.9% |
| PRAX Praxis Precision Medicines I | 0.09% | 10,000 | $421K | Reduce -94.0% |
| GUTS Fractyl Health Inc. | 0.07% | 202,590 | $328K | Reduce -14.7% |
| BDSX Biodesix Inc. | 0.06% | 1,070,367 | $302K | Reduce -73.9% |
| SGMT Sagimet Biosciences Inc. Class A | 0.06% | 37,539 | $286K | New |
| ELVN Enliven Therapeutics Inc. | 0.04% | 10,000 | $201K | New |
| CNTA Centessa Pharmaceuticals Ltd. | 0.01% | 5,000 | $66K | Reduce -97.8% |
| NKTR Nektar Therapeutics | 0.00% | 346 | $9K | New |
Options reported separately and not counted above: MERUS N V calls ($20.1M), SPDR SERIES TRUST calls ($16.6M), NUVALENT INC calls ($7.6M), COGENT COMMUNICATIONS HLDGS calls ($3.6M), HIMS & HERS HEALTH INC puts ($2.5M), CAPRICOR THERAPEUTICS INC puts ($1.4M), AKERO THERAPEUTICS INC calls ($1.3M), SYNDAX PHARMACEUTICALS INC calls ($468K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 104,828 | $3K | No change |
Total filed on the 13F, all lines: $488.6M.
Portfolio Sells Q1 2025 → Q2 2025
| NUVL Nuvalent Inc. Class A | Reduce -46.3% | 3.68% | −2.83 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -69.2% | 0.77% | −2.59 |
| IRON Disc Medicine Inc. | Sold out | 0.00% | −2.45 |
| WVE Wave Life Sciences Ltd. | Sold out | 0.00% | −1.77 |
| TVTX Travere Therapeutics Inc. | Sold out | 0.00% | −1.53 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −1.45 |
| VCYT Veracyte Inc. | Reduce -29.2% | 2.48% | −1.45 |
| ERAS Erasca Inc. | Reduce -65.1% | 0.67% | −1.44 |
| PRAX Praxis Precision Medicines I | Reduce -94.0% | 0.09% | −1.23 |
| TARS Tarsus Pharmaceuticals Inc. | Sold out | 0.00% | −0.87 |
| ALKS Alkermes PLC | Sold out | 0.00% | −0.86 |
| OCUL Ocular Therapeutix Inc. | Sold out | 0.00% | −0.84 |
| MLYS Mineralys Therapeutics Inc. | Reduce -65.9% | 0.32% | −0.80 |
| BBIO Bridgebio Pharma Inc. | Sold out | 0.00% | −0.80 |
| KURA Kura Oncology Inc. | Sold out | 0.00% | −0.80 |
| MDGL Madrigal Pharmaceuticals Inc. | Sold out | 0.00% | −0.72 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −0.69 |
| CNTA Centessa Pharmaceuticals Ltd. | Reduce -97.8% | 0.01% | −0.69 |
| LQDA Liquidia Corp. | Sold out | 0.00% | −0.66 |
| PTCT PTC Therapeutics Inc. | Sold out | 0.00% | −0.64 |
| BDSX Biodesix Inc. | Reduce -73.9% | 0.06% | −0.47 |
| DNTH Dianthus Therapeutics Inc. | Reduce -49.7% | 0.37% | −0.36 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −0.35 |
| VRNA Verona Pharma Ltd. | Reduce -34.4% | 6.94% | −0.31 |
| CCCC C4 Therapeutics Inc. | Sold out | 0.00% | −0.29 |
| KALA Kala Bio Inc. | Sold out | 0.00% | −0.29 |
| UNICYCIVE THERAPEUTICS INC | Sold out | 0.00% | −0.29 |
| ABVX Abivax SA-ADR | Sold out | 0.00% | −0.28 |
| IFRX Inflarx NV | Sold out | 0.00% | −0.25 |
| DCTH Delcath Systems Inc. | Reduce -46.2% | 0.29% | −0.22 |
| GOSS Gossamer Bio Inc. | Reduce -18.6% | 1.30% | −0.16 |
| RNAM Avidity Biosciences Inc. | Reduce -0.3% | 2.38% | −0.15 |
| MODULAR MED INC | Reduce -25.9% | 0.11% | −0.11 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.07 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −0.06 |
| VXRT Vaxart Inc. | Sold out | 0.00% | −0.06 |
| INSM Insmed Inc. | Reduce -22.5% | 5.13% | +0.01 |
| GUTS Fractyl Health Inc. | Reduce -14.7% | 0.07% | +0.01 |
| KNSA Kiniksa Pharmaceuticals Inte | Reduce -13.9% | 0.43% | +0.02 |
| CLDX Celldex Therapeutics Inc. | Reduce -3.6% | 0.83% | +0.05 |
| KOD Kodiak Sciences Inc. | Reduce -9.1% | 0.31% | +0.05 |
| GPCR Structure Therapeutics Inc. | Reduce -6.6% | 0.75% | +0.07 |
| QURE Uniqure NV | Reduce -0.4% | 0.58% | +0.13 |
| MRUS Merus NV | Reduce -8.5% | 7.99% | +0.86 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -12.6% | 3.74% | +1.34 |
| AKRO Akero Therapeutics Inc. | Reduce -0.9% | 7.80% | +1.71 |
Portfolio Buys Q1 2025 → Q2 2025
| CGON CG Oncology Inc. | New | 2.88% | +2.88 |
| NBIX Neurocrine Biosciences Inc. | Add +124.5% | 4.19% | +2.52 |
| URGN Urogen Pharma Ltd. | Add +46.4% | 5.67% | +2.48 |
| SRRK Scholar Rock Holding Corp. | New | 2.47% | +2.47 |
| PCVX Vaxcyte Inc. | New | 1.91% | +1.91 |
| ETNB 89BIO Inc. | Add +34.9% | 4.09% | +1.80 |
| PFE Pfizer Inc. | New | 1.71% | +1.71 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +18.7% | 5.18% | +1.45 |
| ABEO Abeona Therapeutics Inc. | New | 1.07% | +1.07 |
| CDTX Cidara Therapeutics Inc. | New | 1.04% | +1.04 |
| SLNO Soleno Therapeutics Inc. | Add +22.9% | 3.51% | +1.02 |
| MLTX Moonlake Immunotherapeutics | New | 0.79% | +0.79 |
| AARD Aardvark Therapeutics Inc. | Add +140.0% | 0.79% | +0.61 |
| ASND Ascendis Pharma A/S | Add +14.3% | 3.06% | +0.59 |
| MTSR Metsera Inc. | Add +84.1% | 1.21% | +0.57 |
| SION Sionna Therapeutics Inc. | Add +63.0% | 0.66% | +0.41 |
| TELA Tela Bio Inc. | Add +0.3% | 1.10% | +0.40 |
| ORKA Oruka Therapeutics Inc. | New | 0.38% | +0.38 |
| TRML Tourmaline Bio Inc. | New | 0.36% | +0.36 |
| CMPX Compass Therapeutics Inc. | Add +42.9% | 0.67% | +0.32 |
| CGEN Compugen Ltd. | Add +4.8% | 1.11% | +0.22 |
| KALV Kalvista Pharmaceuticals Inc. | Add +7.8% | 4.24% | +0.14 |
| SGMT Sagimet Biosciences Inc. Class A | New | 0.06% | +0.06 |
| ELVN Enliven Therapeutics Inc. | New | 0.04% | +0.04 |
| CERS Cerus Corp. | Add +1.3% | 0.72% | +0.00 |
| NKTR Nektar Therapeutics | New | 0.00% | +0.00 |
| MERSANA THERAPEUTICS INC | Add +1.3% | 0.19% | −0.03 |
| BNTC Benitec Biopharma Inc. | Add +1.3% | 0.61% | −0.07 |
| TRVI Trevi Therapeutics Inc. | Add +1.8% | 0.60% | −0.09 |
| ELUT Elutia Inc. | Add +3.4% | 1.12% | −0.29 |
Options Activity Q1 2025 → Q2 2025
| MERUS N V | call | New | 382,500 | $20.1M |
| SPDR SERIES TRUST | call | New | 200,000 | $16.6M |
| NUVALENT INC | call | New | 100,200 | $7.6M |
| COGENT COMMUNICATIONS HLDGS | call | New | 500,000 | $3.6M |
| SOLENO THERAPEUTICS INC | put | Sold out | 42,500 | $3.0Mbefore exit |
| HIMS & HERS HEALTH INC | put | New | 50,000 | $2.5M |
| CAPRICOR THERAPEUTICS INC | put | New | 144,700 | $1.4M |
| AKERO THERAPEUTICS INC | call | Reduce -86.2% | 25,000 | $1.3M |
| SYNDAX PHARMACEUTICALS INC | call | New | 50,000 | $468K |
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 | 64 | $898.5M | ASND, CELC, COGT, URGN, IMNM |
| Q1 2026 | 66 | $848.6M | KALV, DNTH, COGT, CELC, IMNM |
| Q4 2025 | 63 | $691.1M | ABVX, COGT, URGN, KALV, CELC |
| Q3 2025 | 72 | $690.7M | ABVX, RYTM, RNAM, NUVL, URGN |
| Q2 2025 | 56 | $488.6M | MRUS, AKRO, VRNA, URGN, RYTM |
| Q1 2025 | 66 | $478.6M | VRNA, MRUS, NUVL, AKRO, INSM |
| Q4 2024 | 57 | $447.2M | NUVL, MRUS, INSM, VRNA, AKRO |
| Q3 2024 | 67 | $443.7M | NUVL, MRUS, INSM, RNAM, ERAS |
| Q2 2024 | 65 | $405.1M | MRUS, NUVL, RNAM, URGN, ERAS |
| Q1 2024 | 72 | $356.6M | MRUS, SLDB, MORF, ORIC, MERSANA THERAPEUTICS INC |