Sio Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Sio Capital Management, LLC reported 71 stock positions worth $693.9 million. Its top holding was Maximus (MMS) at 7.1% of the portfolio, followed by Waystar (WAY, 5.7%) and Icon (ICLR, 4.9%). Compared with Q4 2025, it opened 21 new positions, sold out of 13, added to 24 and reduced 14. The biggest buy was a new position in Corcept Therapeutics (CORT) and the biggest sale an exit from Cigna (CI).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001482416
Portfolio Value
$693.9M (Q1 2026)
SEC Filing
0001214659-26-006200 ↗ filed May 14, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $287.0M Q1 2024 Q2 2024: $265.1M Q2 2024 Q3 2024: $223.1M Q3 2024 Q4 2024: $355.3M Q4 2024 Q1 2025: $330.2M Q1 2025 Q2 2025: $249.1M Q2 2025 Q3 2025: $395.1M Q3 2025 Q4 2025: $603.1M Q4 2025 Q1 2026: $693.9M $693.9M Q1 2026 Q2 2026: $583.5M Q2 2026

Holdings 71 stocks · $693.9M
MMS Maximus Inc. 7.10% 768,825 $49.3M Add +53.7%
WAY Waystar Holding Corp. 5.71% 1,642,236 $39.6M Add +167.6%
ICLR Icon PLC 4.89% 306,358 $33.9M Add +140.8%
COR Cencora Inc. 4.57% 100,894 $31.7M Add +534.5%
DNTH Dianthus Therapeutics Inc. 4.48% 370,045 $31.1M Reduce -22.0%
AVR Anteris Technologies Global 4.31% 5,382,965 $29.9M Add +187.2%
CORT Corcept Therapeutics Inc. 3.92% 674,759 $27.2M New
LIVN Livanova PLC 3.86% 421,615 $26.8M Add +30.8%
TYRA Tyra Biosciences Inc. 3.34% 605,439 $23.2M Add +15.1%
CELC Celcuity Inc. 3.19% 193,843 $22.1M Reduce -59.4%
GSK GSK PLC-Spon ADR 3.07% 385,879 $21.3M New
ANIP Ani Pharmaceuticals Inc. 2.94% 265,543 $20.4M Add +204.3%
ABT Abbott Laboratories 2.76% 186,574 $19.2M New
EMBC Embecta Corp. 2.35% 1,847,850 $16.3M New
ABVX Abivax SA-ADR 2.18% 135,800 $15.1M Add +214.9%
VIR Vir Biotechnology Inc. 1.94% 1,498,620 $13.4M Add +213.3%
HAE Haemonetics Corp. 1.79% 220,672 $12.4M Add +138.2%
SION Sionna Therapeutics Inc. 1.70% 294,340 $11.8M New
SNY Sanofi-ADR 1.66% 239,671 $11.5M Reduce -75.3%
RAPP Rapport Therapeutics Inc. 1.65% 366,809 $11.5M Add +98.0%
TFX Teleflex Inc. 1.63% 94,800 $11.3M Add +9.1%
BMRN Biomarin Pharmaceutical Inc. 1.58% 194,226 $11.0M Reduce -16.5%
CCRN Cross Country Healthcare Inc. 1.49% 1,098,393 $10.3M Add +2.8%
TARA Protara Therapeutic Inc. 1.48% 1,969,839 $10.3M Add +14.8%
GPCR Structure Therapeutics Inc. 1.45% 209,093 $10.1M Add +3.8%
BHVN Biohaven Ltd. 1.42% 1,163,926 $9.8M Reduce -6.5%
MNPR Monopar Therapeutics Inc. 1.37% 173,506 $9.5M New
EYPT Eyepoint Inc. 1.34% 721,785 $9.3M New
CRNX Crinetics Pharmaceuticals Inc. 1.31% 249,887 $9.1M Add +100.2%
EWTX Edgewise Therapeutics Inc. 1.22% 268,986 $8.5M Add +13.3%
CMPS Compass Pathways PLC 1.20% 1,506,525 $8.3M New
OCUL Ocular Therapeutix Inc. 1.18% 968,597 $8.2M New
AQST Aquestive Therapeutics Inc. 1.15% 1,922,887 $8.0M Add +93.6%
RLMD Relmada Therapeutics Inc. 0.97% 965,000 $6.7M New
ORKA Oruka Therapeutics Inc. 0.94% 132,496 $6.5M Add +12.2%
ZBIO Zenas Biopharma Inc. 0.93% 331,730 $6.5M New
DRUG Bright Minds Biosciences Inc. 0.91% 86,083 $6.3M Add +5.1%
QDEL Quidelortho Corp. 0.85% 359,011 $5.9M New
ZBH Zimmer Biomet Holdings Inc. 0.82% 62,613 $5.7M Reduce -83.8%
REPL Replimune Group Inc. 0.79% 720,036 $5.5M New
OGN Organon & Co. 0.75% 865,908 $5.2M Reduce -74.7%
OKUR Onkure Therapeutics Inc. Class A 0.64% 1,078,965 $4.5M New
IRON Disc Medicine Inc. 0.60% 65,203 $4.2M Add +13.2%
PMVP PMV Pharmaceuticals Inc. 0.55% 3,076,580 $3.8M Add +16.7%
IMNM Immunome Inc. 0.52% 165,110 $3.6M New
IART Integra Lifesciences Holding 0.52% 383,140 $3.6M New
SVRA Savara Inc. 0.48% 613,888 $3.4M No change
PRQR Proqr Therapeutics NV 0.46% 1,954,715 $3.2M Reduce -9.7%
SI Shoulder Innovations Inc. 0.44% 210,641 $3.1M Reduce -7.6%
OVID Ovid Therapeutics Inc. 0.40% 1,252,381 $2.8M Reduce -12.3%
KYMR Kymera Therapeutics Inc. 0.39% 32,235 $2.7M No change
ALGS Aligos Therapeutics Inc. 0.35% 327,237 $2.4M Reduce -2.6%
CNTX Context Therapeutics Inc. 0.35% 917,922 $2.4M Reduce -31.6%
ANTX AN2 Therapeutics Inc. 0.32% 657,200 $2.2M New
SER Serina Therapeutics Inc. 0.28% 1,000,000 $1.9M New
IBIO Ibio Inc. 0.25% 904,268 $1.7M Add +22.2%
ADGM Adagio Medical Holdings Inc. 0.21% 1,288,461 $1.5M No change
XLO Xilio Therapeutics Inc. 0.18% 152,464 $1.3M No change
BBOT Bridgebio Oncology Therapeut 0.17% 130,628 $1.2M No change
HYPR Hyperfine Inc. 0.16% 1,000,000 $1.1M Reduce -50.0%
SENS Senseonics Holdings Inc. 0.11% 115,784 $771K No change
FHTX Foghorn Therapeutics Inc. 0.08% 122,889 $587K No change
TERN Terns Pharmaceuticals Inc. 0.08% 10,100 $532K No change
ENTA Enanta Pharmaceuticals Inc. 0.07% 40,000 $505K No change
TELA Tela Bio Inc. 0.06% 636,300 $395K No change
NEUROONE MED TECHNOLOGIES CO 0.06% 496,614 $386K Reduce -56.4%
BOLD Boundless Bio Inc. 0.03% 163,679 $180K No change
NYXH Nyxoah SA 0.02% 50,839 $148K No change
MODD Modular Medical Inc. 0.02% 26,190 $138K New
ERAS Erasca Inc. 0.01% 5,000 $81K New
SLP Simulations Plus Inc. 0.00% 200 $2K New

Options reported separately and not counted above: CNC puts ($3.3M), ELTX puts ($125K), OSCR puts ($34K).

Other holdings (2): bonds, preferreds, convertibles and warrants · $12K (not counted above)
SecurityClassShares / PrincipalValueChange
RCKTW Rocket Pharmaceuticals in-27 *W EXP 09/02/202 400,000$7KNo change
HUMAW Humacyte Inc.-CW27 *W EXP 08/27/202 49,998$5KNo change

Total filed on the 13F, all lines: $693.9M.

Portfolio Sells Q4 2025 → Q1 2026
CI The Cigna Group Sold out 0.00% −7.86
SNY Sanofi-ADR Reduce -75.3% 1.66% −6.14
ZBH Zimmer Biomet Holdings Inc. Reduce -83.8% 0.82% −4.93
CELC Celcuity Inc. Reduce -59.4% 3.19% −4.70
KVUE Kenvue Inc. Sold out 0.00% −4.19
OGN Organon & Co. Reduce -74.7% 0.75% −3.32
BTSG Brightspring Health Services Sold out 0.00% −1.91
CNC Centene Corp. Sold out 0.00% −1.87
CRL Charles River Laboratories Sold out 0.00% −1.82
BHVN Biohaven Ltd. Reduce -6.5% 1.42% −0.91
MCK McKesson Corp. Sold out 0.00% −0.87
FULC Fulcrum Therapeutics Inc. Sold out 0.00% −0.72
BMRN Biomarin Pharmaceutical Inc. Reduce -16.5% 1.58% −0.71
VTYX Ventyx Biosciences Inc. Sold out 0.00% −0.58
ALKS Alkermes PLC Sold out 0.00% −0.44
IDYA Ideaya Biosciences Inc. Sold out 0.00% −0.43
PRQR Proqr Therapeutics NV Reduce -9.7% 0.46% −0.27
AVTX Avalo Therapeutics Inc. Sold out 0.00% −0.22
HYPR Hyperfine Inc. Reduce -50.0% 0.16% −0.17
ALGS Aligos Therapeutics Inc. Reduce -2.6% 0.35% −0.17
SI Shoulder Innovations Inc. Reduce -7.6% 0.44% −0.10
NEUROONE MED TECHNOLOGIES CO Reduce -56.4% 0.06% −0.09
MODULAR MED INC Sold out 0.00% −0.05
NXTC Nextcure Inc. Sold out 0.00% −0.03
OVID Ovid Therapeutics Inc. Reduce -12.3% 0.40% +0.01
CNTX Context Therapeutics Inc. Reduce -31.6% 0.35% +0.02
DNTH Dianthus Therapeutics Inc. Reduce -22.0% 4.48% +1.23

Portfolio Buys Q4 2025 → Q1 2026
CORT Corcept Therapeutics Inc. New 3.92% +3.92
COR Cencora Inc. Add +534.5% 4.57% +3.68
GSK GSK PLC-Spon ADR New 3.07% +3.07
ABT Abbott Laboratories New 2.76% +2.76
AVR Anteris Technologies Global Add +187.2% 4.31% +2.75
WAY Waystar Holding Corp. Add +167.6% 5.71% +2.37
EMBC Embecta Corp. New 2.35% +2.35
ANIP Ani Pharmaceuticals Inc. Add +204.3% 2.94% +1.80
SION Sionna Therapeutics Inc. New 1.70% +1.70
VIR Vir Biotechnology Inc. Add +213.3% 1.94% +1.46
MNPR Monopar Therapeutics Inc. New 1.37% +1.37
EYPT Eyepoint Inc. New 1.34% +1.34
ABVX Abivax SA-ADR Add +214.9% 2.18% +1.22
CMPS Compass Pathways PLC New 1.20% +1.20
OCUL Ocular Therapeutix Inc. New 1.18% +1.18
TYRA Tyra Biosciences Inc. Add +15.1% 3.34% +1.05
ICLR Icon PLC Add +140.8% 4.89% +1.04
RLMD Relmada Therapeutics Inc. New 0.97% +0.97
ZBIO Zenas Biopharma Inc. New 0.93% +0.93
QDEL Quidelortho Corp. New 0.85% +0.85
REPL Replimune Group Inc. New 0.79% +0.79
RAPP Rapport Therapeutics Inc. Add +98.0% 1.65% +0.72
OKUR Onkure Therapeutics Inc. Class A New 0.64% +0.64
LIVN Livanova PLC Add +30.8% 3.86% +0.57
HAE Haemonetics Corp. Add +138.2% 1.79% +0.56
IMNM Immunome Inc. New 0.52% +0.52
IART Integra Lifesciences Holding New 0.52% +0.52
CRNX Crinetics Pharmaceuticals Inc. Add +100.2% 1.31% +0.34
ORKA Oruka Therapeutics Inc. Add +12.2% 0.94% +0.34
ANTX AN2 Therapeutics Inc. New 0.32% +0.32
SER Serina Therapeutics Inc. New 0.28% +0.28
EWTX Edgewise Therapeutics Inc. Add +13.3% 1.22% +0.24
AQST Aquestive Therapeutics Inc. Add +93.6% 1.15% +0.09
CCRN Cross Country Healthcare Inc. Add +2.8% 1.49% +0.05
MODD Modular Medical Inc. New 0.02% +0.02
ERAS Erasca Inc. New 0.01% +0.01
IBIO Ibio Inc. Add +22.2% 0.25% +0.01
PMVP PMV Pharmaceuticals Inc. Add +16.7% 0.55% +0.00
SLP Simulations Plus Inc. New 0.00% +0.00
TARA Protara Therapeutic Inc. Add +14.8% 1.48% −0.04
MMS Maximus Inc. Add +53.7% 7.10% −0.06
TFX Teleflex Inc. Add +9.1% 1.63% −0.12
DRUG Bright Minds Biosciences Inc. Add +5.1% 0.91% −0.15
IRON Disc Medicine Inc. Add +13.2% 0.60% −0.16
GPCR Structure Therapeutics Inc. Add +3.8% 1.45% −0.87

Options Activity Q4 2025 → Q1 2026
RYTM Rhythm Pharmaceuticals Inc. put Sold out 265,700 $28.4Mbefore exit
CNC Centene Corp. put New 100,000 $3.3M
OTLK Outlook Therapeutics Inc. put Sold out 1,125,400 $1.8Mbefore exit
ELTX Elicio Therapeutics Inc. put Reduce -96.1% 11,700 $125K
OSCR Oscar Health Inc. Class A put New 3,000 $34K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 55$583.5MAVR, COR, MMS, ALLO, GMED
Q1 2026 71$693.9MMMS, WAY, ICLR, COR, DNTH
Q4 2025 63$603.1MCELC, CI, SNY, MMS, ZBH
Q3 2025 49$395.1MMMS, CELC, SNY, DNTH, ALKS
Q2 2025 47$249.1MMMS, IRON, GMED, CNC, MRK
Q1 2025 51$330.2MICLR, MMS, MRK, ZBH, NBIX
Q4 2024 49$355.3MICLR, MMS, CI, LH, SNY
Q3 2024 35$223.1MLH, TEVA, MMS, ZBH, VXRT
Q2 2024 43$265.1MLH, TFX, ZBH, SNN, OGN
Q1 2024 45$287.0MLH, CI, GMED, MDGL, GSK