Superstring Capital Management LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Superstring Capital Management LP reported 33 stock positions worth $83.8 million. Its top holding was Zai Lab Ltd.-ADR (ZLAB) at 12.7% of the portfolio, followed by Bridgebio Pharma (BBIO, 7.6%) and Verona Pharma (VRNA, 7.3%). Compared with Q4 2024, it opened 13 new positions, sold out of 18, added to 7 and reduced 9. The biggest buy was a new position in Verona Pharma (VRNA) and the biggest sale an exit from Novocure (NVCR).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001931118
- Portfolio Value
- $83.8M (Q1 2025)
- SEC Filing
- 0001931118-25-000004 ↗ filed May 15, 2025
Holdings Value
Holdings 33 stocks · $83.8M
| ZLAB Zai Lab Ltd.-ADR | 12.71% | 294,947 | $10.7M | Reduce -26.9% |
| BBIO Bridgebio Pharma Inc. | 7.58% | 183,922 | $6.4M | Reduce -29.8% |
| VRNA Verona Pharma Ltd. | 7.33% | 96,821 | $6.1M | New |
| LEGN Legend Biotech Corp.-ADR | 6.49% | 160,442 | $5.4M | Add +130.5% |
| PFE Pfizer Inc. | 5.93% | 196,164 | $5.0M | New |
| URGN Urogen Pharma Ltd. | 5.59% | 423,632 | $4.7M | Add +40.6% |
| COGT Cogent Biosciences Inc. | 5.54% | 774,721 | $4.6M | Reduce -14.9% |
| ORIC Oric Pharmaceuticals Inc. | 5.45% | 819,194 | $4.6M | Reduce -48.2% |
| TVTX Travere Therapeutics Inc. | 5.08% | 237,487 | $4.3M | New |
| TERN Terns Pharmaceuticals Inc. | 4.47% | 1,357,153 | $3.7M | Reduce -32.8% |
| CYTK Cytokinetics Inc. | 3.50% | 72,992 | $2.9M | Reduce -43.6% |
| SVRA Savara Inc. | 3.19% | 966,203 | $2.7M | Add +90.1% |
| SMMT Summit Therapeutics Inc. | 3.04% | 132,019 | $2.5M | Reduce -19.8% |
| SWTX Springworks Therapeutics Inc. | 2.85% | 54,216 | $2.4M | New |
| CAPR Capricor Therapeutics Inc. | 2.73% | 241,192 | $2.3M | Add +336.7% |
| VSTM Verastem Inc. | 2.42% | 336,363 | $2.0M | Add +60.3% |
| TARA Protara Therapeutic Inc. | 1.83% | 360,000 | $1.5M | No change |
| CRNX Crinetics Pharmaceuticals Inc. | 1.74% | 43,613 | $1.5M | New |
| SLNO Soleno Therapeutics Inc. | 1.65% | 19,332 | $1.4M | New |
| MDGL Madrigal Pharmaceuticals Inc. | 1.51% | 3,815 | $1.3M | Add +237.9% |
| MLTX Moonlake Immunotherapeutics | 1.50% | 32,145 | $1.3M | New |
| TSHA Taysha Gene Therapies Inc. | 1.25% | 755,599 | $1.1M | New |
| TECX Tectonic Therapeutic Inc. | 1.07% | 50,746 | $899K | New |
| ZBIO Zenas Biopharma Inc. | 1.05% | 111,605 | $882K | No change |
| ETNB 89BIO Inc. | 0.95% | 109,156 | $794K | Reduce -17.9% |
| RNAM Avidity Biosciences Inc. | 0.78% | 22,271 | $657K | New |
| CABA Cabaletta Bio Inc. | 0.76% | 458,972 | $636K | Reduce -44.2% |
| PCVX Vaxcyte Inc. | 0.51% | 11,264 | $425K | New |
| KYTX Kyverna Therapeutics Inc. | 0.44% | 191,287 | $369K | Add +5.0% |
| OCUL Ocular Therapeutix Inc. | 0.37% | 42,297 | $310K | New |
| SDGR Schrodinger Inc. | 0.33% | 14,114 | $279K | New |
| IPSC Century Therapeutics Inc. | 0.26% | 462,963 | $220K | No change |
| LSBCF Lakeshore Biopharma Co. Ltd. | 0.09% | 30,792 | $75K | No change |
Options reported separately and not counted above: CPIX calls ($212K).
Portfolio Sells Q4 2024 → Q1 2025
| NVCR Novocure Ltd. | Sold out | 0.00% | −7.51 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -48.2% | 5.45% | −5.75 |
| TERN Terns Pharmaceuticals Inc. | Reduce -32.8% | 4.47% | −5.36 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −5.16 |
| IDYA Ideaya Biosciences Inc. | Sold out | 0.00% | −5.13 |
| TIL Instil Bio Inc. | Sold out | 0.00% | −2.48 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −2.34 |
| INSM Insmed Inc. | Sold out | 0.00% | −2.18 |
| FATE Fate Therapeutics Inc. | Sold out | 0.00% | −2.00 |
| CYTK Cytokinetics Inc. | Reduce -43.6% | 3.50% | −1.85 |
| DYN Dyne Therapeutics Inc. | Sold out | 0.00% | −1.51 |
| TNGX Tango Therapeutics Inc. | Sold out | 0.00% | −1.29 |
| KURA Kura Oncology Inc. | Sold out | 0.00% | −1.21 |
| INCY Incyte Corp. | Sold out | 0.00% | −1.09 |
| ONC Beone Medicines Ltd.-ADR | Sold out | 0.00% | −1.03 |
| CABA Cabaletta Bio Inc. | Reduce -44.2% | 0.76% | −0.88 |
| COGT Cogent Biosciences Inc. | Reduce -14.9% | 5.54% | −0.70 |
| RZLT Rezolute Inc. | Sold out | 0.00% | −0.53 |
| ZURA Zura Bio Ltd. | Sold out | 0.00% | −0.41 |
| EYPT Eyepoint Inc. | Sold out | 0.00% | −0.32 |
| AXSM Axsome Therapeutics Inc. | Sold out | 0.00% | −0.32 |
| LXEO Lexeo Therapeutics Inc. | Sold out | 0.00% | −0.30 |
| CLYM Climb Bio Inc. | Sold out | 0.00% | −0.16 |
| ETNB 89BIO Inc. | Reduce -17.9% | 0.95% | +0.03 |
| SMMT Summit Therapeutics Inc. | Reduce -19.8% | 3.04% | +0.46 |
| BBIO Bridgebio Pharma Inc. | Reduce -29.8% | 7.58% | +1.27 |
| ZLAB Zai Lab Ltd.-ADR | Reduce -26.9% | 12.71% | +3.43 |
Portfolio Buys Q4 2024 → Q1 2025
| VRNA Verona Pharma Ltd. | New | 7.33% | +7.33 |
| PFE Pfizer Inc. | New | 5.93% | +5.93 |
| TVTX Travere Therapeutics Inc. | New | 5.08% | +5.08 |
| LEGN Legend Biotech Corp.-ADR | Add +130.5% | 6.49% | +4.50 |
| SWTX Springworks Therapeutics Inc. | New | 2.85% | +2.85 |
| URGN Urogen Pharma Ltd. | Add +40.6% | 5.59% | +2.77 |
| CAPR Capricor Therapeutics Inc. | Add +336.7% | 2.73% | +2.06 |
| SVRA Savara Inc. | Add +90.1% | 3.19% | +1.82 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 1.74% | +1.74 |
| SLNO Soleno Therapeutics Inc. | New | 1.65% | +1.65 |
| MLTX Moonlake Immunotherapeutics | New | 1.50% | +1.50 |
| VSTM Verastem Inc. | Add +60.3% | 2.42% | +1.47 |
| TSHA Taysha Gene Therapies Inc. | New | 1.25% | +1.25 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +237.9% | 1.51% | +1.20 |
| TECX Tectonic Therapeutic Inc. | New | 1.07% | +1.07 |
| RNAM Avidity Biosciences Inc. | New | 0.78% | +0.78 |
| PCVX Vaxcyte Inc. | New | 0.51% | +0.51 |
| OCUL Ocular Therapeutix Inc. | New | 0.37% | +0.37 |
| SDGR Schrodinger Inc. | New | 0.33% | +0.33 |
| KYTX Kyverna Therapeutics Inc. | Add +5.0% | 0.44% | −0.16 |
Options Activity Q4 2024 → Q1 2025
| ORIC Oric Pharmaceuticals Inc. | call | Sold out | 200,000 | $1.6Mbefore exit |
| CPIX Cumberland Pharmaceuticals | call | New | 50,000 | $212K |
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 | 32 | $158.4M | COGT, AXSM, GMAB, CLDX, TRVI |
| Q1 2026 | 35 | $140.0M | SMMT, IMVT, COGT, SVRA, URGN |
| Q4 2025 | 45 | $186.8M | CDTX, TERN, URGN, COGT, DVAX |
| Q3 2025 | 35 | $101.5M | ZLAB, CDTX, TERN, ETNB, IMVT |
| Q2 2025 | 35 | $80.3M | COGT, VRNA, NBIX, TERN, RARE |
| Q1 2025 | 33 | $83.8M | ZLAB, BBIO, VRNA, LEGN, PFE |
| Q4 2024 | 38 | $113.9M | ORIC, TERN, ZLAB, NVCR, BBIO |
| Q3 2024 | 27 | $111.8M | ZLAB, CYTK, TERN, GPCR, ORIC |
| Q2 2024 | 39 | $79.3M | CYTK, LEGN, TERN, BBIO, ETNB |
| Q1 2024 | 37 | $151.2M | CYTK, NKTX, ETNB, BBIO, SVRA |