ACORN CAPITAL ADVISORS, LLC Long-Term Concentrated

CIK: 0002054410 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $295,133 (100.0% shares, 0.0% debt)

Holdings (21)

New Positions (1)

Value ($000) $3,798 Shares 501,739 Est. Cost $4.58 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LONA	ATHIRA PHARMA INC.	501,739	$3,798	1.3%	$4.58	0.0%	COMMON STOCK	04746L203

Increased Positions (4)

URGN UROGEN PHARMA LTD 11.5%

Value ($000) $33,922 (+35.0%) Shares 1,448,420 (+15.0%) Est. Cost $13.24 Unrealized +63.9%

HELP CYBIN INC 4.4%

Value ($000) $12,874 (+198.6%) Shares 1,573,023 (+114.2%) Est. Cost $8.17 Unrealized -21.2%

VSTM VERASTEM INC 3.8%

Value ($000) $11,342 (+64.8%) Shares 1,469,153 (+88.5%) Est. Cost $6.27 Unrealized +42.1%

JSPR JASPER THERAPEUTICS 1.1%

Value ($000) $3,269 (-0.7%) Shares 1,786,492 (+29.2%) Est. Cost $2.80 Unrealized -28.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
URGN	UROGEN PHARMA LTD	1,448,420 (+15.0%)	$33,922 (+35.0%)	11.5%	$13.24	+63.9%	COM	M96088105
HELP	CYBIN INC	1,573,023 (+114.2%)	$12,874 (+198.6%)	4.4%	$8.17	-21.2%	COM NEW	23256X407
VSTM	VERASTEM INC	1,469,153 (+88.5%)	$11,342 (+64.8%)	3.8%	$6.27	+42.1%	COM	92337C203
JSPR	JASPER THERAPEUTICS	1,786,492 (+29.2%)	$3,269 (-0.7%)	1.1%	$2.80	-28.3%	COM	471871202

Decreased Positions (3)

TERN TERNS PHARMACEUTICALS INC 23.9%

Value ($000) $70,549 (+376.5%) Shares 1,746,264 (-11.4%) Est. Cost $6.77 Unrealized +241.3%

VYNE VYNE THERAPEUTICS INC 0.0%

Value ($000) $1 (-99.6%) Shares 1,425 (-99.8%) Est. Cost $2.55 Unrealized -84.3%

QTTB Q32 BIO INC. 0.6%

Value ($000) $1,638 (+3.0%) Shares 493,425 (-38.6%) Est. Cost $31.58 Unrealized -91.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TERN	TERNS PHARMACEUTICALS INC	1,746,264 (-11.4%)	$70,549 (+376.5%)	23.9%	$6.77	+241.3%	COM	880881107
VYNE	VYNE THERAPEUTICS INC	1,425 (-99.8%)	$1 (-99.6%)	0.0%	$2.55	-84.3%	COM	92941V308
QTTB	Q32 BIO INC.	493,425 (-38.6%)	$1,638 (+3.0%)	0.6%	$31.58	-91.0%	COM	746964105

Unchanged Positions (13)

TRVI TREVI THERAPEUTICS INC 9.1%

Value ($000) $26,853 Shares 2,144,844 Est. Cost $3.31 Unrealized +249.6%

PBYI PUMA BIOTECHNOLOGY INC 8.3%

Value ($000) $24,581 Shares 4,131,299 Est. Cost $2.92 Unrealized +81.7%

TARA PROTARA THERAPEUTICS INC 3.2%

Value ($000) $9,339 Shares 1,752,115 Est. Cost $3.29 Unrealized +69.0%

CRDF CARDIF ONCOLOGY INC 1.9%

Value ($000) $5,513 Shares 1,962,084 Est. Cost $3.02 Unrealized -23.2%

CADL CANDEL THERAPEUTICS INC 4.9%

Value ($000) $14,580 Shares 2,580,517 Est. Cost $5.97 Unrealized -9.9%

CGON CG ONCOLOGY INC 15.9%

Value ($000) $46,980 Shares 1,131,501 Est. Cost $34.21 Unrealized +21.0%

BCAX BICARA THERAPEUTICS 3.7%

Value ($000) $10,828 Shares 643,382 Est. Cost $20.81 Unrealized -17.9%

WHWK WHITEHAWK THERAPEUTICS INC 0.9%

Value ($000) $2,757 Shares 1,139,363 Est. Cost $2.27 Unrealized +1.3%

BCAB BIOATLA INC 0.9%

Value ($000) $2,756 Shares 4,835,111 Est. Cost $1.47 Unrealized -46.6%

AURA AURA BIOSCIENCES INC 1.1%

Value ($000) $3,247 Shares 595,744 Est. Cost $7.57 Unrealized -21.5%

OKUR ONKURE THERAPEUTICS INC 2.8%

Value ($000) $8,235 Shares 2,839,674 Est. Cost $8.97 Unrealized -66.6%

ACRV ACRIVON THERAPEUTICS INC 0.3%

Value ($000) $977 Shares 405,237 Est. Cost $7.27 Unrealized -70.1%

— X4 PHARMACEUTICALS INC 0.4%

Value ($000) $1,093 Shares 273,349 Est. Cost $1.91 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TRVI	TREVI THERAPEUTICS INC	2,144,844	$26,853	9.1%	$3.31	+249.6%	COM	89532M101
PBYI	PUMA BIOTECHNOLOGY INC	4,131,299	$24,581	8.3%	$2.92	+81.7%	COM	74587V107
TARA	PROTARA THERAPEUTICS INC	1,752,115	$9,339	3.2%	$3.29	+69.0%	COM STK	74365U107
CRDF	CARDIF ONCOLOGY INC	1,962,084	$5,513	1.9%	$3.02	-23.2%	COM	14147L108
CADL	CANDEL THERAPEUTICS INC	2,580,517	$14,580	4.9%	$5.97	-9.9%	COM	137404109
CGON	CG ONCOLOGY INC	1,131,501	$46,980	15.9%	$34.21	+21.0%	COM	156944100
BCAX	BICARA THERAPEUTICS	643,382	$10,828	3.7%	$20.81	-17.9%	COM	055477103
WHWK	WHITEHAWK THERAPEUTICS INC	1,139,363	$2,757	0.9%	$2.27	+1.3%	COM	00032Q104
BCAB	BIOATLA INC	4,835,111	$2,756	0.9%	$1.47	-46.6%	COM	09077B104
AURA	AURA BIOSCIENCES INC	595,744	$3,247	1.1%	$7.57	-21.5%	COM	05153U107
OKUR	ONKURE THERAPEUTICS INC	2,839,674	$8,235	2.8%	$8.97	-66.6%	CLASS A COM	68277Q105
ACRV	ACRIVON THERAPEUTICS INC	405,237	$977	0.3%	$7.27	-70.1%	COMMON STOCK	004890109
—	X4 PHARMACEUTICALS INC	273,349	$1,093	0.4%	$1.91	—	COM	98420X103