Tri Locum Partners LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Tri Locum Partners LP reported 23 stock positions worth $329.5 million. Its top holding was Teva Pharmaceutical-SP ADR (TEVA) at 10.4% of the portfolio, followed by Madrigal Pharmaceuticals (MDGL, 9.0%) and Alnylam Pharmaceuticals (ALNY, 8.9%). Compared with Q1 2025, it opened 9 new positions, sold out of 8, added to 11 and reduced 2. The biggest buy was a new position in Alnylam Pharmaceuticals (ALNY) and the biggest sale an exit from Cigna (CI).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001826434
- Portfolio Value
- $329.5M (Q2 2025)
- SEC Filing
- 0001826434-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 23 stocks · $329.5M
| TEVA Teva Pharmaceutical-SP ADR | 10.41% | 2,046,846 | $34.3M | Add +92.9% |
| MDGL Madrigal Pharmaceuticals Inc. | 8.98% | 97,765 | $29.6M | Add +158.2% |
| ALNY Alnylam Pharmaceuticals Inc. | 8.86% | 89,525 | $29.2M | New |
| ARGX Argenx SE - ADR | 8.00% | 47,793 | $26.3M | Add +167.8% |
| ASND Ascendis Pharma A/S | 7.73% | 147,642 | $25.5M | Add +356.7% |
| SLNO Soleno Therapeutics Inc. | 7.34% | 288,880 | $24.2M | Add +23.0% |
| VRNA Verona Pharma Ltd. | 6.22% | 216,578 | $20.5M | New |
| INSP Inspire Medical Systems Inc. | 5.88% | 149,244 | $19.4M | Add +89.4% |
| UNH Unitedhealth Group Inc. | 5.74% | 60,584 | $18.9M | New |
| AXSM Axsome Therapeutics Inc. | 5.00% | 157,861 | $16.5M | Add +55.9% |
| EOLS Evolus Inc. | 3.46% | 1,239,031 | $11.4M | Add +285.0% |
| ABBV Abbvie Inc. | 3.14% | 55,661 | $10.3M | New |
| VERA Vera Therapeutics Inc. | 2.95% | 413,114 | $9.7M | Add +175.0% |
| AVDL Avadel Pharmaceuticals Ltd. | 2.72% | 1,014,456 | $9.0M | New |
| PRAX Praxis Precision Medicines I | 2.49% | 195,432 | $8.2M | Add +133.6% |
| TARS Tarsus Pharmaceuticals Inc. | 2.18% | 177,656 | $7.2M | New |
| ISRG Intuitive Surgical Inc. | 2.11% | 12,824 | $7.0M | New |
| LEGN Legend Biotech Corp.-ADR | 1.87% | 173,260 | $6.1M | New |
| NUVL Nuvalent Inc. Class A | 1.76% | 75,973 | $5.8M | Reduce -20.7% |
| BHVN Biohaven Ltd. | 1.16% | 271,367 | $3.8M | New |
| KRRO Korro Bio Inc. | 1.06% | 139,493 | $3.5M | Add +8.7% |
| WGS Genedx Holdings Corp. | 0.92% | 32,931 | $3.0M | Reduce -43.4% |
| FEMY Femasys Inc. | 0.01% | 30,606 | $30K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| CI The Cigna Group | Sold out | 0.00% | −12.48 |
| MCK McKesson Corp. | Sold out | 0.00% | −9.30 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −5.14 |
| ILMN Illumina Inc. | Sold out | 0.00% | −4.91 |
| INSM Insmed Inc. | Sold out | 0.00% | −3.99 |
| MRUS Merus NV | Sold out | 0.00% | −3.39 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −2.27 |
| STVN Stevanato Group SPA | Sold out | 0.00% | −1.84 |
| NUVL Nuvalent Inc. Class A | Reduce -20.7% | 1.76% | −1.73 |
| WGS Genedx Holdings Corp. | Reduce -43.4% | 0.92% | −1.72 |
Portfolio Buys Q1 2025 → Q2 2025
| ALNY Alnylam Pharmaceuticals Inc. | New | 8.86% | +8.86 |
| VRNA Verona Pharma Ltd. | New | 6.22% | +6.22 |
| UNH Unitedhealth Group Inc. | New | 5.74% | +5.74 |
| ASND Ascendis Pharma A/S | Add +356.7% | 7.73% | +5.15 |
| ABBV Abbvie Inc. | New | 3.14% | +3.14 |
| AVDL Avadel Pharmaceuticals Ltd. | New | 2.72% | +2.72 |
| ARGX Argenx SE - ADR | Add +167.8% | 8.00% | +2.58 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +158.2% | 8.98% | +2.54 |
| TARS Tarsus Pharmaceuticals Inc. | New | 2.18% | +2.18 |
| ISRG Intuitive Surgical Inc. | New | 2.11% | +2.11 |
| TEVA Teva Pharmaceutical-SP ADR | Add +92.9% | 10.41% | +2.04 |
| LEGN Legend Biotech Corp.-ADR | New | 1.87% | +1.87 |
| EOLS Evolus Inc. | Add +285.0% | 3.46% | +1.48 |
| BHVN Biohaven Ltd. | New | 1.16% | +1.16 |
| VERA Vera Therapeutics Inc. | Add +175.0% | 2.95% | +1.10 |
| PRAX Praxis Precision Medicines I | Add +133.6% | 2.49% | +0.87 |
| KRRO Korro Bio Inc. | Add +8.7% | 1.06% | −0.09 |
| INSP Inspire Medical Systems Inc. | Add +89.4% | 5.88% | −0.56 |
| AXSM Axsome Therapeutics Inc. | Add +55.9% | 5.00% | −1.06 |
| SLNO Soleno Therapeutics Inc. | Add +23.0% | 7.34% | −1.27 |
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 |