Tri Locum Partners LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Tri Locum Partners LP reported 22 stock positions worth $194.9 million. Its top holding was Cigna (CI) at 12.5% of the portfolio, followed by McKesson (MCK, 9.3%) and Soleno Therapeutics (SLNO, 8.6%). Compared with Q4 2024, it opened 9 new positions, sold out of 15, added to 2 and reduced 10. The biggest buy was Cigna (CI, shares +81%) and the biggest sale an exit from Zimmer Biomet (ZBH).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001826434
- Portfolio Value
- $194.9M (Q1 2025)
- SEC Filing
- 0001826434-25-000004 ↗ filed May 14, 2025
Holdings Value
Holdings 22 stocks · $194.9M
| CI The Cigna Group | 12.48% | 73,905 | $24.3M | Add +81.1% |
| MCK McKesson Corp. | 9.30% | 26,944 | $18.1M | New |
| SLNO Soleno Therapeutics Inc. | 8.61% | 234,920 | $16.8M | New |
| TEVA Teva Pharmaceutical-SP ADR | 8.37% | 1,061,008 | $16.3M | Reduce -56.2% |
| INSP Inspire Medical Systems Inc. | 6.44% | 78,812 | $12.6M | Reduce -47.7% |
| MDGL Madrigal Pharmaceuticals Inc. | 6.44% | 37,869 | $12.5M | Reduce -20.2% |
| AXSM Axsome Therapeutics Inc. | 6.06% | 101,240 | $11.8M | Reduce -59.5% |
| ARGX Argenx SE - ADR | 5.42% | 17,844 | $10.6M | Reduce -69.4% |
| GILD Gilead Sciences Inc. | 5.14% | 89,453 | $10.0M | New |
| ILMN Illumina Inc. | 4.91% | 120,729 | $9.6M | New |
| INSM Insmed Inc. | 3.99% | 101,859 | $7.8M | New |
| NUVL Nuvalent Inc. Class A | 3.49% | 95,825 | $6.8M | New |
| MRUS Merus NV | 3.39% | 156,915 | $6.6M | Reduce -54.8% |
| WGS Genedx Holdings Corp. | 2.64% | 58,145 | $5.1M | Reduce -54.4% |
| ASND Ascendis Pharma A/S | 2.58% | 32,325 | $5.0M | New |
| BPMC Blueprint Medicines Corp. | 2.27% | 50,000 | $4.4M | New |
| EOLS Evolus Inc. | 1.99% | 321,802 | $3.9M | Reduce -56.7% |
| VERA Vera Therapeutics Inc. | 1.85% | 150,207 | $3.6M | New |
| STVN Stevanato Group SPA | 1.84% | 175,681 | $3.6M | Reduce -84.3% |
| PRAX Praxis Precision Medicines I | 1.63% | 83,659 | $3.2M | Add +124.5% |
| KRRO Korro Bio Inc. | 1.15% | 128,381 | $2.2M | Reduce -11.0% |
| FEMY Femasys Inc. | 0.02% | 30,606 | $38K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| ZBH Zimmer Biomet Holdings Inc. | Sold out | 0.00% | −8.07 |
| NTRA Natera Inc. | Sold out | 0.00% | −6.65 |
| VRNA Verona Pharma Ltd. | Sold out | 0.00% | −4.37 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −4.22 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −4.16 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −4.13 |
| IDXX Idexx Laboratories Inc. | Sold out | 0.00% | −3.85 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −3.74 |
| STVN Stevanato Group SPA | Reduce -84.3% | 1.84% | −3.22 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −2.95 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -56.2% | 8.37% | −2.70 |
| JANX Janux Therapeutics Inc. | Sold out | 0.00% | −2.62 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −2.62 |
| ARGX Argenx SE - ADR | Reduce -69.4% | 5.42% | −2.00 |
| GERN Geron Corp. | Sold out | 0.00% | −1.81 |
| MIND MEDICINE MINDMED INC | Sold out | 0.00% | −1.18 |
| BHVN Biohaven Ltd. | Sold out | 0.00% | −1.08 |
| LIVN Livanova PLC | Sold out | 0.00% | −0.96 |
| KRRO Korro Bio Inc. | Reduce -11.0% | 1.15% | +0.01 |
| EOLS Evolus Inc. | Reduce -56.7% | 1.99% | +0.29 |
| MRUS Merus NV | Reduce -54.8% | 3.39% | +0.36 |
| WGS Genedx Holdings Corp. | Reduce -54.4% | 2.64% | +0.61 |
| INSP Inspire Medical Systems Inc. | Reduce -47.7% | 6.44% | +0.65 |
| AXSM Axsome Therapeutics Inc. | Reduce -59.5% | 6.06% | +1.68 |
| MDGL Madrigal Pharmaceuticals Inc. | Reduce -20.2% | 6.44% | +3.40 |
Portfolio Buys Q4 2024 → Q1 2025
| CI The Cigna Group | Add +81.1% | 12.48% | +10.14 |
| MCK McKesson Corp. | New | 9.30% | +9.30 |
| SLNO Soleno Therapeutics Inc. | New | 8.61% | +8.61 |
| GILD Gilead Sciences Inc. | New | 5.14% | +5.14 |
| ILMN Illumina Inc. | New | 4.91% | +4.91 |
| INSM Insmed Inc. | New | 3.99% | +3.99 |
| NUVL Nuvalent Inc. Class A | New | 3.49% | +3.49 |
| ASND Ascendis Pharma A/S | New | 2.58% | +2.58 |
| BPMC Blueprint Medicines Corp. | New | 2.27% | +2.27 |
| VERA Vera Therapeutics Inc. | New | 1.85% | +1.85 |
| PRAX Praxis Precision Medicines I | Add +124.5% | 1.63% | +1.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $813.2M | JNJ, VRTX, LLY, ASND, DXCM |
| Q1 2026 | 17 | $712.5M | JNJ, ISRG, TMO, ASND, VRTX |
| Q4 2025 | 15 | $770.1M | JNJ, DHR, LLY, UTHR, ASND |
| Q3 2025 | 18 | $435.1M | JNJ, UTHR, MRK, AXSM, ASND |
| Q2 2025 | 23 | $329.5M | TEVA, MDGL, ALNY, ARGX, ASND |
| Q1 2025 | 22 | $194.9M | CI, MCK, SLNO, TEVA, INSP |
| Q4 2024 | 28 | $482.7M | TEVA, ZBH, ARGX, NTRA, INSP |
| Q3 2024 | 20 | $417.4M | PFE, TEVA, NTRA, STVN, ARGX |
| Q2 2024 | 25 | $395.5M | TEVA, ARGX, ASND, AMGN, NTRA |
| Q1 2024 | 27 | $288.4M | TEVA, AVDL, SILK, NTRA, ASND |