Location: Baltimore, MD
CIK: 0001595725 · Show all filings
Period: Q4 2025 (← Previous) (Next →)
Filing Date: Feb 17, 2026
Total Value: $1.95B (99.7% shares, 0.3% debt)
| Ticker | Issuer | Shares | Value | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| LLY | ELI LILLY & CO | 105,400 | $113M | 5.8% | $683.47 | +39.8% | COM | 532457108 |
| RVMD | REVOLUTION MEDICINES INC | 1,335,270 | $106M | 5.5% | $31.87 | +105.7% | COM | 76155X100 |
| ARGX | ARGENX SE | 103,250 | $86.83M | 4.5% | $160.49 | — | SPONSORED ADR | 04016X101 |
| TVTX | TRAVERE THERAPEUTICS INC | 2,210,322 | $84.46M | 4.3% | $14.26 | +128.0% | COM | 89422G107 |
| MDGL | MADRIGAL PHARMACEUTICALS INC | 139,618 | $81.31M | 4.2% | $123.32 | +314.2% | COM | 558868105 |
| RYTM | RHYTHM PHARMACEUTICALS INC | 695,010 | $74.39M | 3.8% | $17.22 | +516.0% | COM | 76243J105 |
| EXAS | EXACT SCIENCES CORP | 601,800 | $61.12M | 3.1% | $54.04 | +48.6% | COM | 30063P105 |
| MIRM | MIRUM PHARMACEUTICALS INC | 762,294 | $60.21M | 3.1% | $14.67 | +389.4% | COM | 604749101 |
| INSM | INSMED INC | 319,250 | $55.56M | 2.8% | $39.44 | +362.7% | COM PAR $.01 | 457669307 |
| GPCR | STRUCTURE THERAPEUTICS INC | 748,236 | $52.04M | 2.7% | $39.12 | — | SPONSORED ADS | 86366E106 |
| ISRG | INTUITIVE SURGICAL INC | 82,000 | $46.44M | 2.4% | $264.69 | +101.1% | COM NEW | 46120E602 |
| — | CIDARA THERAPEUTICS INC | 204,878 | $45.26M | 2.3% | $70.46 | — | COM NEW | 171757206 |
| ASND | ASCENDIS PHARMA A/S | 203,500 | $43.39M | 2.2% | $92.14 | — | SPONSORED ADR | 04351P101 |
| IRTC | IRHYTHM TECHNOLOGIES INC | 235,000 | $41.7M | 2.1% | $74.37 | +138.3% | COM | 450056106 |
| KYMR | KYMERA THERAPEUTICS INC | 496,871 | $38.66M | 2.0% | $34.27 | +97.0% | COM | 501575104 |
| BSX | BOSTON SCIENTIFIC CORP | 399,050 | $38.05M | 2.0% | $67.08 | +46.1% | COM | 101137107 |
| PEN | PENUMBRA INC | 120,500 | $37.46M | 1.9% | $179.03 | +54.3% | COM | 70975L107 |
| XENE | XENON PHARMACEUTICALS INC | 787,788 | $35.31M | 1.8% | $24.19 | +73.6% | COM | 98420N105 |
| SRRK | SCHOLAR ROCK HLDG CORP | 733,477 | $32.31M | 1.7% | $32.85 | +14.2% | COM | 80706P103 |
| COGT | COGENT BIOSCIENCES INC | 849,030 | $30.16M | 1.5% | $6.84 | +310.7% | COM | 19240Q201 |
| RARE | ULTRAGENYX PHARMACEUTICAL IN | 1,267,241 | $29.15M | 1.5% | $57.80 | -43.1% | COM | 90400D108 |
| VERA | VERA THERAPEUTICS INC | 568,579 | $28.79M | 1.5% | $35.12 | +1.1% | CL A | 92337R101 |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 71,250 | $28.33M | 1.5% | $107.54 | +311.5% | COM | 02043Q107 |
| FOLD | AMICUS THERAPEUTICS INC | 1,929,931 | $27.48M | 1.4% | $10.81 | -9.1% | COM | 03152W109 |
| XBI | SPDR SERIES TRUST | 222,000 | $27.07M | 1.4% | $95.27 | — | STATE STREET SPD | 78464A870 |
| THC | TENET HEALTHCARE CORP | 125,000 | $24.84M | 1.3% | $148.69 | +35.9% | COM NEW | 88033G407 |
| DXCM | DEXCOM INC | 347,300 | $23.05M | 1.2% | $90.94 | -28.9% | COM | 252131107 |
| AGIO | AGIOS PHARMACEUTICALS INC | 799,163 | $21.75M | 1.1% | $33.80 | +3.8% | COM | 00847X104 |
| TARS | TARSUS PHARMACEUTICALS INC | 260,344 | $21.32M | 1.1% | $48.01 | +55.5% | COM | 87650L103 |
| CMPX | COMPASS THERAPEUTICS INC | 3,927,202 | $21.09M | 1.1% | $3.23 | +43.1% | COM | 20454B104 |
| NAMS | NEWAMSTERDAM PHARMA COMPANY | 557,194 | $19.55M | 1.0% | $19.88 | +83.0% | ORDINARY SHARES | N62509109 |
| AZTA | AZENTA INC | 569,100 | $18.93M | 1.0% | $56.45 | -42.1% | COM | 114340102 |
| CLDX | CELLDEX THERAPEUTICS INC NEW | 692,538 | $18.81M | 1.0% | $32.64 | -19.3% | COM NEW | 15117B202 |
| CAI | CARIS LIFE SCIENCES INC | 687,500 | $18.55M | 1.0% | $26.95 | +4.5% | COM | 142152107 |
| ZBIO | ZENAS BIOPHARMA INC | 502,077 | $18.23M | 0.9% | $17.98 | +82.9% | COM | 98937L105 |
| DYN | DYNE THERAPEUTICS INC | 912,955 | $17.86M | 0.9% | $18.27 | +3.7% | COM | 26818M108 |
| NBIX | NEUROCRINE BIOSCIENCES INC | 125,500 | $17.8M | 0.9% | $97.62 | +48.4% | COM | 64125C109 |
| PHVS | PHARVARIS N V | 623,402 | $17.3M | 0.9% | $26.42 | -8.8% | COM | N69605108 |
| MLYS | MINERALYS THERAPEUTICS INC | 427,596 | $15.52M | 0.8% | $14.80 | +170.9% | COM | 603170101 |
| PHR | PHREESIA INC | 876,600 | $14.83M | 0.8% | $25.15 | -18.0% | COM | 71944F106 |
| ZLAB | ZAI LAB LTD | 811,546 | $14.32M | 0.7% | $50.50 | — | ADR | 98887Q104 |
| DHR | DANAHER CORPORATION | 61,500 | $14.08M | 0.7% | $216.22 | +1.5% | COM | 235851102 |
| UNH | UNITEDHEALTH GROUP INC | 40,800 | $13.47M | 0.7% | $337.21 | 0.0% | COM | 91324P102 |
| ARDX | ARDELYX INC | 2,299,473 | $13.41M | 0.7% | $5.10 | +9.3% | COM | 039697107 |
| ACRS | ACLARIS THERAPEUTICS INC | 4,453,741 | $13.41M | 0.7% | $6.19 | -59.2% | COM | 00461U105 |
| SMMT | SUMMIT THERAPEUTICS INC | 710,000 | $12.42M | 0.6% | $14.06 | +33.8% | COM | 86627T108 |
| ELVN | ENLIVEN THERAPEUTICS INC | 798,405 | $12.3M | 0.6% | $17.30 | +15.1% | COM | 29337E102 |
| INSP | INSPIRE MED SYS INC | 131,000 | $12.08M | 0.6% | $178.69 | -46.5% | COM | 457730109 |
| OMDA | OMADA HEALTH INC | 740,000 | $11.68M | 0.6% | $17.31 | +17.2% | COM | 68170A108 |
| SLNO | SOLENO THERAPEUTICS INC | 247,053 | $11.44M | 0.6% | $55.78 | -1.7% | COM | 834203309 |
| ACLX | ARCELLX INC | 169,859 | $11.07M | 0.6% | $62.26 | +28.1% | COMMON STOCK | 03940C100 |
| EVH | EVOLENT HEALTH INC | 2,675,000 | $10.7M | 0.5% | $20.50 | -72.9% | CL A | 30050B101 |
| GOSS | GOSSAMER BIO INC | 3,266,960 | $10.13M | 0.5% | $2.62 | +9.0% | COM | 38341P102 |
| MBX | MBX BIOSCIENCES INC | 282,624 | $8.914M | 0.5% | $13.37 | +81.5% | COM | 55287L101 |
| CNTA | CENTESSA PHARMACEUTICALS PLC | 324,015 | $8.104M | 0.4% | $24.85 | — | SPONSORED ADS | 152309100 |
| HTFL | HEARTFLOW INC | 277,700 | $8.095M | 0.4% | $32.24 | -0.1% | COM | 42238D107 |
| BBIO | BRIDGEBIO PHARMA INC | 103,500 | $7.917M | 0.4% | $51.79 | +26.8% | COM | 10806X102 |
| REGN | REGENERON PHARMACEUTICALS | 10,100 | $7.796M | 0.4% | $587.92 | +15.4% | COM | 75886F107 |
| IMNM | IMMUNOME INC | 347,666 | $7.468M | 0.4% | $17.55 | 0.0% | COM | 45257U108 |
| RAPT | RAPT THERAPEUTICS INC | 213,731 | $7.239M | 0.4% | $31.06 | 0.0% | COM NEW | 75382E208 |
| BCAX | BICARA THERAPEUTICS INC | 429,095 | $7.222M | 0.4% | $23.20 | -26.4% | COM | 055477103 |
| EW | EDWARDS LIFESCIENCES CORP | 82,500 | $7.033M | 0.4% | $63.05 | +30.2% | COM | 28176E108 |
| — | GOSSAMER BIO INC | 9,573,000 | $6.559M | 0.3% | $1.01 | — | NOTE 5.000% 6/0 | 38341PAA0 |
| ATEC | ALPHATEC HLDGS INC | 302,500 | $6.365M | 0.3% | $9.28 | +99.4% | COM NEW | 02081G201 |
| AMLX | AMYLYX PHARMACEUTICALS INC | 499,764 | $6.037M | 0.3% | $3.97 | +242.4% | COM | 03237H101 |
| TMO | THERMO FISHER SCIENTIFIC INC | 10,000 | $5.795M | 0.3% | $417.06 | +35.5% | COM | 883556102 |
| JANX | JANUX THERAPEUTICS INC | 358,798 | $4.951M | 0.3% | $40.31 | -41.7% | COM | 47103J105 |
| SGRY | SURGERY PARTNERS INC | 310,000 | $4.79M | 0.2% | $18.38 | 0.0% | COM | 86881A100 |
| EYPT | EYEPOINT INC | 258,739 | $4.727M | 0.2% | $13.85 | +2.3% | COM NEW | 30233G209 |
| PTCT | PTC THERAPEUTICS INC | 61,879 | $4.7M | 0.2% | $72.67 | 0.0% | COM | 69366J200 |
| AGL | AGILON HEALTH INC | 6,500,000 | $4.477M | 0.2% | $29.66 | -97.4% | COM | 00857U107 |
| — | MERSANA THERAPEUTICS INC | 152,586 | $4.414M | 0.2% | $7.76 | — | COM | 59045L205 |
| TERN | TERNS PHARMACEUTICALS INC | 108,481 | $4.383M | 0.2% | $23.11 | 0.0% | COM | 880881107 |
| RCUS | ARCUS BIOSCIENCES INC | 180,000 | $4.289M | 0.2% | $20.40 | 0.0% | COM | 03969F109 |
| EDAP | EDAP TMS S A | 1,286,500 | $4.233M | 0.2% | $7.18 | — | SPONSORED ADR | 268311107 |
| OCUL | OCULAR THERAPEUTIX INC | 345,820 | $4.198M | 0.2% | $11.98 | +1.4% | COM | 67576A100 |
| LENZ | LENZ THERAPEUTICS INC | 257,460 | $4.119M | 0.2% | $32.86 | -11.3% | COM | 52635N103 |
| TLPH | TALPHERA INC | 3,589,186 | $4.092M | 0.2% | $0.78 | +55.2% | COM NEW | 00444T209 |
| SION | SIONNA THERAPEUTICS INC | 99,429 | $4.091M | 0.2% | $16.34 | +132.1% | COM | 829401108 |
| TBPH | THERAVANCE BIOPHARMA INC | 208,771 | $3.906M | 0.2% | $16.59 | 0.0% | COM | G8807B106 |
| ALKS | ALKERMES PLC | 139,228 | $3.896M | 0.2% | $28.61 | +4.7% | SHS | G01767105 |
| APLS | APELLIS PHARMACEUTICALS INC | 150,500 | $3.781M | 0.2% | $34.91 | -32.8% | COM | 03753U106 |
| — | INDIVIOR PLC | 105,100 | $3.771M | 0.2% | $35.88 | — | ORD | G4766E116 |
| ERAS | ERASCA INC | 951,710 | $3.54M | 0.2% | $2.81 | 0.0% | COM | 29479A108 |
| TNGX | TANGO THERAPEUTICS INC | 386,915 | $3.428M | 0.2% | $8.62 | 0.0% | COM | 87583X109 |
| OLMA | OLEMA PHARMACEUTICALS INC | 98,240 | $2.456M | 0.1% | $17.79 | 0.0% | COM | 68062P106 |
| CYTK | CYTOKINETICS INC | 35,853 | $2.278M | 0.1% | $62.21 | 0.0% | COM NEW | 23282W605 |
| PCVX | VAXCYTE INC | 47,000 | $2.169M | 0.1% | $41.90 | +6.7% | COM | 92243G108 |
| NGNE | NEUROGENE INC | 104,339 | $2.149M | 0.1% | $35.51 | -29.9% | COM | 64135M105 |
| JSPR | JASPER THERAPEUTICS INC | 1,100,726 | $2.014M | 0.1% | $9.61 | -79.1% | COM NEW | 471871202 |
| ROIV | ROIVANT SCIENCES LTD | 88,750 | $1.926M | 0.1% | $19.73 | 0.0% | SHS | G76279101 |
| CORT | CORCEPT THERAPEUTICS INC | 50,250 | $1.749M | 0.1% | $78.55 | 0.0% | COM | 218352102 |
| ACHC | ACADIA HEALTHCARE COMPANY IN | 120,000 | $1.703M | 0.1% | $53.71 | -64.8% | COM | 00404A109 |
| TEVA | TEVA PHARMACEUTICAL INDS LTD | 45,500 | $1.42M | 0.1% | $31.21 | — | SPONSORED ADS | 881624209 |
| NAMS | NEWAMSTERDAM PHARMA COMPANY | 31,600 | $1.109M | 0.1% | $19.88 | +83.0% | Call | N62509109 |
| MLTX | MOONLAKE IMMUNOTHERAPEUTICS | 61,700 | $813K | 0.0% | $30.23 | -61.0% | CLASS A ORD | 61559X104 |
| LEGN | LEGEND BIOTECH CORP | 33,800 | $735K | 0.0% | $21.74 | — | SPONSORED ADS | 52490G102 |
| JAZZ | JAZZ PHARMACEUTICALS PLC | 1,750 | $298K | 0.0% | $153.31 | 0.0% | SHS USD | G50871105 |
| — | NUVATION BIO INC | 134,028 | $44,229 | 0.0% | $2.67 | — | *W EXP 02/10/202 | 67080N119 |