Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q3 2025 ▲▼ | Q4 2025 ▲▼ | Change ▲▼ | Q3 2025 ▲▼ | Q4 2025 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| VERTEX PHARMACEUTICALS INC(VRTX)(Call) | 0 | 88,300 | +88,300 | 0 | 40,032 | — | +40,032 |
| SPDR SERIES TRUST(Put) ST STR SP BIOT | 0 | 250,000 | +250,000 | 0 | 30,483 | — | +30,483 |
| PRAXIS PRECISION MEDICINES I(PRAX)(Put) | 100,000 | 100,600 | +600 | 5,300 | 29,651 | — | +24,351 |
| INVESCO QQQ TR(Put) | 0 | 30,000 | +30,000 | 0 | 18,429 | — | +18,429 |
| BRIDGEBIO PHARMA INC(BBIO)(Put) | 0 | 200,000 | +200,000 | 0 | 15,298 | — | +15,298 |
| AVIDITY BIOSCIENCES INC(Call) | 200,100 | 328,000 | +127,900 | 8,718 | 23,659 | — | +14,940 |
| JOHNSON & JOHNSON(JNJ) | 0 | 66,444 | +66,444 | 0 | 13,751 | 8.19% | +13,751 |
| VIKING THERAPEUTICS INC(VKTX)(Call) | 405,100 | 688,900 | +283,800 | 10,646 | 24,236 | — | +13,589 |
| STRUCTURE THERAPEUTICS INC(Call) | 0 | 191,700 | +191,700 | 0 | 13,333 | — | +13,333 |
| TERNS PHARMACEUTICALS INC | 323,159 | 345,880 | +22,721 | 2,427 | 13,974 | 8.32% | +11,547 |
| VIKING THERAPEUTICS INC(VKTX)(Put) | 0 | 316,700 | +316,700 | 0 | 11,142 | — | +11,142 |
| APOGEE THERAPEUTICS INC(APGE)(Call) | 0 | 211,100 | +211,100 | 0 | 15,934 | — | +15,934 |
| JOHNSON & JOHNSON(JNJ)(Call) | 0 | 50,000 | +50,000 | 0 | 10,348 | — | +10,348 |
| INCYTE CORP(INCY)(Put) | 0 | 100,000 | +100,000 | 0 | 9,877 | — | +9,877 |
| INSMED INC(INSM)(Call) | 0 | 52,800 | +52,800 | 0 | 9,189 | — | +9,189 |
| INDIVIOR PLC(Call) | 0 | 220,300 | +220,300 | 0 | 7,904 | — | +7,904 |
| CAPRICOR THERAPEUTICS INC(CAPR)(Call) | 300,000 | 312,300 | +12,300 | 2,163 | 9,013 | — | +6,850 |
| VIKING THERAPEUTICS INC(VKTX) | 0 | 336,849 | +336,849 | 0 | 11,850 | 7.06% | +11,850 |
| ABIVAX SA(ABVX) | 41,620 | 75,644 | +34,024 | 3,513 | 10,201 | 6.08% | +6,688 |
| CAPRICOR THERAPEUTICS INC(CAPR)(Put) | 0 | 200,000 | +200,000 | 0 | 5,772 | — | +5,772 |
| BRIDGEBIO PHARMA INC(BBIO) | 0 | 70,000 | +70,000 | 0 | 5,354 | 3.19% | +5,354 |
| OCULAR THERAPEUTIX INC(OCUL)(Call) | 136,700 | 545,200 | +408,500 | 1,598 | 6,619 | — | +5,021 |
| UNITED THERAPEUTICS CORP DEL(UTHR) | 0 | 10,000 | +10,000 | 0 | 4,873 | 2.90% | +4,873 |
| JAZZ PHARMACEUTICALS PLC(JAZZ)(Call) | 100,000 | 105,300 | +5,300 | 13,180 | 17,901 | — | +4,721 |
| CAPRICOR THERAPEUTICS INC(CAPR) | 0 | 158,075 | +158,075 | 0 | 4,562 | 2.72% | +4,562 |
| VERTEX PHARMACEUTICALS INC(VRTX) | 0 | 10,000 | +10,000 | 0 | 4,534 | 2.70% | +4,534 |
| REGENERON PHARMACEUTICALS(REGN)(Call) | 0 | 5,000 | +5,000 | 0 | 3,859 | — | +3,859 |
| BRIDGEBIO PHARMA INC(BBIO)(Call) | 131,400 | 139,600 | +8,200 | 6,825 | 10,678 | — | +3,853 |
| BIOAGE LABS INC(BIOA) | 0 | 271,164 | +271,164 | 0 | 3,588 | 2.14% | +3,588 |
| CORCEPT THERAPEUTICS INC(CORT) | 0 | 97,445 | +97,445 | 0 | 3,391 | 2.02% | +3,391 |
| COGENT BIOSCIENCES INC(COGT) | 0 | 131,852 | +131,852 | 0 | 4,683 | 2.79% | +4,683 |
| TG THERAPEUTICS INC(TGTX)(Put) | 0 | 100,000 | +100,000 | 0 | 2,981 | — | +2,981 |
| ZYMEWORKS INC(ZYME)(Call) | 196,500 | 240,600 | +44,100 | 3,356 | 6,335 | — | +2,979 |
| TENAX THERAPEUTICS INC | 0 | 243,170 | +243,170 | 0 | 2,964 | 1.77% | +2,964 |
| INTELLIA THERAPEUTICS INC(NTLA)(Put) | 0 | 316,900 | +316,900 | 0 | 2,849 | — | +2,849 |
| CORCEPT THERAPEUTICS INC(CORT)(Put) | 0 | 134,800 | +134,800 | 0 | 4,691 | — | +4,691 |
| ROIVANT SCIENCES LTD(ROIV)(Put) | 300,000 | 318,700 | +18,700 | 4,539 | 6,916 | — | +2,377 |
| IRONWOOD PHARMACEUTICALS INC | 0 | 683,611 | +683,611 | 0 | 2,304 | 1.37% | +2,304 |
| BIOHAVEN LTD(BHVN)(Call) | 0 | 200,000 | +200,000 | 0 | 2,258 | — | +2,258 |
| CENTESSA PHARMACEUTICALS PLC | 0 | 90,000 | +90,000 | 0 | 2,251 | 1.34% | +2,251 |
| REPLIMUNE GROUP INC(REPL) | 0 | 230,997 | +230,997 | 0 | 2,245 | 1.34% | +2,245 |
| AQUESTIVE THERAPEUTICS INC(Put) | 0 | 337,700 | +337,700 | 0 | 2,182 | — | +2,182 |
| ELI LILLY & CO(LLY) | 0 | 2,000 | +2,000 | 0 | 2,149 | 1.28% | +2,149 |
| LIPOCINE INC NEW | 0 | 260,939 | +260,939 | 0 | 2,095 | 1.25% | +2,095 |
| TRAVERE THERAPEUTICS INC(TVTX)(Put) | 300 | 50,300 | +50,000 | 7 | 1,922 | — | +1,915 |
| RELMADA THERAPEUTICS INC | 0 | 389,395 | +389,395 | 0 | 1,881 | 1.12% | +1,881 |
| IONIS PHARMACEUTICALS INC(IONS)(Call) | 100,000 | 106,200 | +6,200 | 6,542 | 8,401 | — | +1,859 |
| VANDA PHARMACEUTICALS INC(Call) | 0 | 200,000 | +200,000 | 0 | 1,764 | — | +1,764 |
| ANNEXON INC(ANNX) | 0 | 350,000 | +350,000 | 0 | 1,757 | 1.05% | +1,757 |
| VENTYX BIOSCIENCES INC | 71,204 | 200,000 | +128,796 | 221 | 1,806 | 1.08% | +1,585 |
| INVENTIVA SA(IVA) | 0 | 334,251 | +334,251 | 0 | 1,554 | 0.93% | +1,554 |
| ANNEXON INC(ANNX)(Call) | 0 | 309,100 | +309,100 | 0 | 1,552 | — | +1,552 |
| OLEMA PHARMACEUTICALS INC(OLMA)(Call) | 90,500 | 96,100 | +5,600 | 886 | 2,403 | — | +1,517 |
| LEGEND BIOTECH CORP(LEGN)(Call) | 0 | 69,000 | +69,000 | 0 | 1,500 | — | +1,500 |
| BIOCRYST PHARMACEUTICALS INC(BCRX) | 0 | 190,928 | +190,928 | 0 | 1,489 | 0.89% | +1,489 |
| TG THERAPEUTICS INC(TGTX) | 0 | 123,283 | +123,283 | 0 | 3,675 | 2.19% | +3,675 |
| AQUESTIVE THERAPEUTICS INC(Call) | 0 | 211,100 | +211,100 | 0 | 1,364 | — | +1,364 |
| ANI PHARMACEUTICALS INC(ANIP) | 31,400 | 53,354 | +21,954 | 2,876 | 4,212 | 2.51% | +1,336 |
| RIGEL PHARMACEUTICALS INC | 0 | 30,000 | +30,000 | 0 | 1,285 | 0.77% | +1,285 |
| MAPLIGHT THERAPEUTICS INC(MPLT) | 0 | 63,791 | +63,791 | 0 | 1,120 | 0.67% | +1,120 |
| UNIQURE NV(QURE) | 0 | 45,000 | +45,000 | 0 | 1,077 | 0.64% | +1,077 |
| ENANTA PHARMACEUTICALS INC | 0 | 65,138 | +65,138 | 0 | 1,027 | 0.61% | +1,027 |
| PROTHENA CORP PLC SHS | 0 | 106,539 | +106,539 | 0 | 1,017 | 0.61% | +1,017 |
| MONTE ROSA THERAPEUTICS INC(GLUE) | 0 | 62,281 | +62,281 | 0 | 977 | 0.58% | +977 |
| SELLAS LIFE SCIENCES GROUP I(SLS)(Call) | 0 | 424,900 | +424,900 | 0 | 1,602 | — | +1,602 |
| DESIGN THERAPEUTICS INC | 0 | 100,320 | +100,320 | 0 | 941 | 0.56% | +941 |
| INOVIO PHARMACEUTICALS INC | 0 | 533,682 | +533,682 | 0 | 929 | 0.55% | +929 |
| TERNS PHARMACEUTICALS INC(Call) | 225,200 | 64,700 | -160,500 | 1,691 | 2,614 | — | +923 |
| MINERALYS THERAPEUTICS INC(MLYS) | 0 | 25,000 | +25,000 | 0 | 907 | 0.54% | +907 |
| EVOLUS INC(Call) | 0 | 118,800 | +118,800 | 0 | 790 | — | +790 |
| LIQUIDIA CORPORATION(LQDA) | 0 | 21,881 | +21,881 | 0 | 755 | 0.45% | +755 |
| EDGEWISE THERAPEUTICS INC(EWTX) | 0 | 30,000 | +30,000 | 0 | 744 | 0.44% | +744 |
| XERIS BIOPHARMA HOLDINGS INC | 74,753 | 170,568 | +95,815 | 608 | 1,339 | 0.80% | +730 |
| CORMEDIX INC(Put) | 100,000 | 159,000 | +59,000 | 1,163 | 1,849 | — | +686 |
| VIRIDIAN THERAPEUTICS INC(VRDN) | 0 | 21,114 | +21,114 | 0 | 657 | 0.39% | +657 |
| VIR BIOTECHNOLOGY INC(VIR) | 0 | 100,000 | +100,000 | 0 | 603 | 0.36% | +603 |
| MANNKIND CORP(MNKD) | 212,475 | 302,000 | +89,525 | 1,141 | 1,712 | 1.02% | +571 |
| LIGAND PHARMACEUTICALS INC(LGND) | 0 | 2,987 | +2,987 | 0 | 565 | 0.34% | +565 |
| ZYMEWORKS INC(ZYME)(Put) | 0 | 21,400 | +21,400 | 0 | 563 | — | +563 |
| UPSTREAM BIO INC | 0 | 20,500 | +20,500 | 0 | 557 | 0.33% | +557 |
| GOSSAMER BIO INC(Call) | 824,800 | 877,100 | +52,300 | 2,169 | 2,719 | — | +550 |
| STOKE THERAPEUTICS INC(STOK) | 0 | 17,181 | +17,181 | 0 | 545 | 0.32% | +545 |
| VIR BIOTECHNOLOGY INC(VIR)(Call) | 0 | 89,200 | +89,200 | 0 | 538 | — | +538 |
| TECTONIC THERAPEUTIC INC(Call) | 100,000 | 100,600 | +600 | 1,569 | 2,099 | — | +530 |
| CENTESSA PHARMACEUTICALS PLC(Call) | 0 | 21,100 | +21,100 | 0 | 528 | — | +528 |
| IMMUNOME INC(IMNM) | 0 | 22,500 | +22,500 | 0 | 483 | 0.29% | +483 |
| PELTHOS THERAPEUTICS INC | 10,498 | 25,000 | +14,502 | 294 | 775 | 0.46% | +481 |
| BLACK DIAMOND THERAPEUTICS I(Call) | 0 | 190,400 | +190,400 | 0 | 463 | — | +463 |
| MOONLAKE IMMUNOTHERAPEUTICS(MLTX)(Call) | 26,100 | 47,200 | +21,100 | 187 | 622 | — | +435 |
| TREVI THERAPEUTICS INC(TRVI) | 0 | 97,184 | +97,184 | 0 | 1,217 | 0.72% | +1,217 |
| JANUX THERAPEUTICS INC(JANX)(Call) | 0 | 30,000 | +30,000 | 0 | 414 | — | +414 |
| PALISADE BIO INC | 0 | 166,049 | +166,049 | 0 | 390 | 0.23% | +390 |
| KODIAK SCIENCES INC(KOD)(Call) | 27,800 | 29,600 | +1,800 | 455 | 828 | — | +373 |
| BIOAGE LABS INC(BIOA)(Call) | 0 | 22,600 | +22,600 | 0 | 299 | — | +299 |
| ARBUTUS BIOPHARMA CORP(ABUS)(Call) | 516,300 | 548,600 | +32,300 | 2,344 | 2,639 | — | +295 |
| AYTU BIOPHARMA INC | 272,670 | 305,788 | +33,118 | 513 | 795 | 0.47% | +282 |
| AARDVARK THERAPEUTICS INC | 0 | 15,882 | +15,882 | 0 | 208 | 0.12% | +208 |
| REVOLUTION MEDICINES INC(RVMD) | 0 | 37,020 | +37,020 | 0 | 2,949 | 1.76% | +2,949 |
| PLIANT THERAPEUTICS INC | 0 | 144,914 | +144,914 | 0 | 177 | 0.11% | +177 |
| INOVIO PHARMACEUTICALS INC(Call) | 0 | 100,000 | +100,000 | 0 | 174 | — | +174 |