Sio Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Sio Capital Management, LLC reported 49 stock positions worth $395.1 million. Its top holding was Maximus (MMS) at 12.9% of the portfolio, followed by Celcuity (CELC, 9.8%) and Sanofi-ADR (SNY, 6.7%). Compared with Q2 2025, it opened 14 new positions, sold out of 12, added to 7 and reduced 12. The biggest buy was a new position in Celcuity (CELC) and the biggest sale an exit from Globus Medical Class A (GMED).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001482416
- Portfolio Value
- $395.1M (Q3 2025)
- SEC Filing
- 0001214659-25-016415 ↗ filed Nov 13, 2025
Holdings Value
Holdings 49 stocks · $395.1M
| MMS Maximus Inc. | 12.89% | 557,615 | $50.9M | Add +1.7% |
| CELC Celcuity Inc. | 9.83% | 786,526 | $38.9M | New |
| SNY Sanofi-ADR | 6.72% | 562,703 | $26.6M | Add +200.1% |
| DNTH Dianthus Therapeutics Inc. | 5.75% | 577,750 | $22.7M | Add +144.7% |
| ALKS Alkermes PLC | 5.12% | 674,840 | $20.2M | New |
| IRON Disc Medicine Inc. | 4.76% | 284,787 | $18.8M | No change |
| MRK Merck & Co. Inc. | 3.77% | 177,300 | $14.9M | Add +1.9% |
| HSIC Henry Schein Inc. | 3.68% | 219,207 | $14.5M | New |
| CNC Centene Corp. | 3.50% | 387,600 | $13.8M | Add +47.7% |
| KVUE Kenvue Inc. | 3.47% | 844,000 | $13.7M | New |
| BMRN Biomarin Pharmaceutical Inc. | 3.09% | 225,114 | $12.2M | No change |
| GSK GSK PLC-Spon ADR | 2.94% | 268,873 | $11.6M | New |
| DRUG Bright Minds Biosciences Inc. | 2.93% | 190,764 | $11.6M | Reduce -62.8% |
| HAE Haemonetics Corp. | 2.44% | 198,035 | $9.7M | New |
| AQST Aquestive Therapeutics Inc. | 2.12% | 1,498,095 | $8.4M | Add +58.1% |
| KALV Kalvista Pharmaceuticals Inc. | 2.11% | 683,819 | $8.3M | New |
| AVR Anteris Technologies Global | 2.02% | 1,772,601 | $8.0M | Reduce -3.6% |
| CRNX Crinetics Pharmaceuticals Inc. | 1.84% | 174,841 | $7.3M | New |
| TYRA Tyra Biosciences Inc. | 1.82% | 514,947 | $7.2M | Reduce -36.5% |
| RAPP Rapport Therapeutics Inc. | 1.39% | 185,265 | $5.5M | New |
| NVCR Novocure Ltd. | 1.35% | 413,829 | $5.3M | New |
| ANIP Ani Pharmaceuticals Inc. | 1.29% | 55,723 | $5.1M | Reduce -50.6% |
| EWTX Edgewise Therapeutics Inc. | 1.26% | 307,181 | $5.0M | Reduce -43.1% |
| TFX Teleflex Inc. | 1.24% | 40,057 | $4.9M | New |
| SLP Simulations Plus Inc. | 1.22% | 320,307 | $4.8M | New |
| PRQR Proqr Therapeutics NV | 1.12% | 2,075,139 | $4.4M | No change |
| SI Shoulder Innovations Inc. | 1.11% | 350,000 | $4.4M | New |
| PMVP PMV Pharmaceuticals Inc. | 0.93% | 2,636,548 | $3.7M | Reduce -29.4% |
| SEPN Septerna Inc. | 0.90% | 189,199 | $3.6M | Reduce -67.6% |
| IDYA Ideaya Biosciences Inc. | 0.86% | 124,230 | $3.4M | No change |
| ALGS Aligos Therapeutics Inc. | 0.83% | 335,937 | $3.3M | No change |
| ERAS Erasca Inc. | 0.76% | 1,369,748 | $3.0M | No change |
| VIR Vir Biotechnology Inc. | 0.69% | 478,343 | $2.7M | No change |
| SVRA Savara Inc. | 0.66% | 726,851 | $2.6M | No change |
| VTYX Ventyx Biosciences Inc. | 0.65% | 829,178 | $2.6M | Reduce -36.6% |
| NEUROONE MED TECHNOLOGIES CO | 0.53% | 2,360,635 | $2.1M | Reduce -33.0% |
| OVID Ovid Therapeutics Inc. | 0.47% | 1,427,495 | $1.9M | Reduce -36.0% |
| BBOT Bridgebio Oncology Therapeut | 0.38% | 130,628 | $1.5M | New |
| CNTX Context Therapeutics Inc. | 0.33% | 1,341,636 | $1.3M | No change |
| SENS Senseonics Holdings Inc. | 0.26% | 2,315,749 | $1.0M | Reduce -52.3% |
| TELA Tela Bio Inc. | 0.24% | 636,300 | $948K | No change |
| AVTX Avalo Therapeutics Inc. | 0.23% | 72,173 | $917K | No change |
| FHTX Foghorn Therapeutics Inc. | 0.15% | 122,889 | $601K | No change |
| MODULAR MED INC | 0.14% | 785,824 | $550K | No change |
| NYXH Nyxoah SA | 0.06% | 50,839 | $234K | No change |
| BOLD Boundless Bio Inc. | 0.05% | 163,679 | $201K | No change |
| APRE Aprea Therapeutics Inc. | 0.04% | 112,223 | $166K | Reduce -59.8% |
| TERN Terns Pharmaceuticals Inc. | 0.02% | 10,100 | $76K | No change |
| NXTC Nextcure Inc. | 0.02% | 10,940 | $64K | Add +0.1% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $27K (not counted above)
Total filed on the 13F, all lines: $395.2M.
Portfolio Sells Q2 2025 → Q3 2025
| GMED Globus Medical Inc. Class A | Sold out | 0.00% | −5.82 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −5.08 |
| ANNX Annexon Inc. | Sold out | 0.00% | −3.95 |
| DRUG Bright Minds Biosciences Inc. | Reduce -62.8% | 2.93% | −2.44 |
| AORT Artivion Inc. | Sold out | 0.00% | −1.98 |
| ANIP Ani Pharmaceuticals Inc. | Reduce -50.6% | 1.29% | −1.67 |
| EWTX Edgewise Therapeutics Inc. | Reduce -43.1% | 1.26% | −1.58 |
| SEPN Septerna Inc. | Reduce -67.6% | 0.90% | −1.58 |
| AVNS Avanos Medical Inc. | Sold out | 0.00% | −1.42 |
| MRUS Merus NV | Sold out | 0.00% | −1.32 |
| TYRA Tyra Biosciences Inc. | Reduce -36.5% | 1.82% | −1.29 |
| MBX MBX Biosciences Inc. | Sold out | 0.00% | −1.10 |
| AVR Anteris Technologies Global | Reduce -3.6% | 2.02% | −0.78 |
| TVTX Travere Therapeutics Inc. | Sold out | 0.00% | −0.73 |
| ATXS Astria Therapeutics Inc. | Sold out | 0.00% | −0.68 |
| SENS Senseonics Holdings Inc. | Reduce -52.3% | 0.26% | −0.67 |
| PMVP PMV Pharmaceuticals Inc. | Reduce -29.4% | 0.93% | −0.66 |
| ENTA Enanta Pharmaceuticals Inc. | Sold out | 0.00% | −0.54 |
| ALEC Alector Inc. | Sold out | 0.00% | −0.48 |
| VTYX Ventyx Biosciences Inc. | Reduce -36.6% | 0.65% | −0.47 |
| NEUROONE MED TECHNOLOGIES CO | Reduce -33.0% | 0.53% | −0.43 |
| APRE Aprea Therapeutics Inc. | Reduce -59.8% | 0.04% | −0.15 |
| EMBC Embecta Corp. | Sold out | 0.00% | −0.12 |
| OVID Ovid Therapeutics Inc. | Reduce -36.0% | 0.47% | +0.17 |
Portfolio Buys Q2 2025 → Q3 2025
| CELC Celcuity Inc. | New | 9.83% | +9.83 |
| ALKS Alkermes PLC | New | 5.12% | +5.12 |
| DNTH Dianthus Therapeutics Inc. | Add +144.7% | 5.75% | +3.99 |
| HSIC Henry Schein Inc. | New | 3.68% | +3.68 |
| KVUE Kenvue Inc. | New | 3.47% | +3.47 |
| SNY Sanofi-ADR | Add +200.1% | 6.72% | +3.09 |
| GSK GSK PLC-Spon ADR | New | 2.94% | +2.94 |
| HAE Haemonetics Corp. | New | 2.44% | +2.44 |
| KALV Kalvista Pharmaceuticals Inc. | New | 2.11% | +2.11 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 1.84% | +1.84 |
| RAPP Rapport Therapeutics Inc. | New | 1.39% | +1.39 |
| NVCR Novocure Ltd. | New | 1.35% | +1.35 |
| TFX Teleflex Inc. | New | 1.24% | +1.24 |
| SLP Simulations Plus Inc. | New | 1.22% | +1.22 |
| SI Shoulder Innovations Inc. | New | 1.11% | +1.11 |
| AQST Aquestive Therapeutics Inc. | Add +58.1% | 2.12% | +0.86 |
| BBOT Bridgebio Oncology Therapeut | New | 0.38% | +0.38 |
| NXTC Nextcure Inc. | Add +0.1% | 0.02% | −0.01 |
| MRK Merck & Co. Inc. | Add +1.9% | 3.77% | −1.76 |
| CNC Centene Corp. | Add +47.7% | 3.50% | −2.22 |
| MMS Maximus Inc. | Add +1.7% | 12.89% | −2.55 |
Options Activity Q2 2025 → Q3 2025
| IDXX Idexx Laboratories Inc. | put | Sold out | 18,000 | $9.7Mbefore exit |
| INMB Inmune Bio Inc. | put | Sold out | 1,299,300 | $3.0Mbefore exit |
| ATYR Atyr Pharma Inc. | put | Sold out | 1,100 | $6Kbefore 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 | 55 | $583.5M | AVR, COR, MMS, ALLO, GMED |
| Q1 2026 | 71 | $693.9M | MMS, WAY, ICLR, COR, DNTH |
| Q4 2025 | 63 | $603.1M | CELC, CI, SNY, MMS, ZBH |
| Q3 2025 | 49 | $395.1M | MMS, CELC, SNY, DNTH, ALKS |
| Q2 2025 | 47 | $249.1M | MMS, IRON, GMED, CNC, MRK |
| Q1 2025 | 51 | $330.2M | ICLR, MMS, MRK, ZBH, NBIX |
| Q4 2024 | 49 | $355.3M | ICLR, MMS, CI, LH, SNY |
| Q3 2024 | 35 | $223.1M | LH, TEVA, MMS, ZBH, VXRT |
| Q2 2024 | 43 | $265.1M | LH, TFX, ZBH, SNN, OGN |
| Q1 2024 | 45 | $287.0M | LH, CI, GMED, MDGL, GSK |