CIK: 0001937964 · Show all filings
Period: Q4 2025 (← Previous)
Filing Date: Feb 17, 2026
Total Value ($000): $705,757 (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| INSM | INSMED INC | 420,000 | $73,097 | 10.4% | $72.29 | +152.4% | PUT | 457669307 |
| — | CIDARA THERAPEUTICS INC | 70,824 | $15,644 | 2.2% | $220.89 | — | COM NEW | 171757206 |
| VTYX | VENTYX BIOSCIENCES INC | 695,982 | $6,285 | 0.9% | $7.47 | 0.0% | COM | 92332V107 |
| PVLA | PALVELLA THERAPEUTICS INC NE | 59,200 | $6,196 | 0.9% | $85.31 | 0.0% | COM | 697947109 |
| UGL | PROSHARES TR II | 100,000 | $5,552 | 0.8% | $46.06 | — | PUT | 74347W601 |
| SION | SIONNA THERAPEUTICS INC | 119,741 | $4,926 | 0.7% | $37.92 | 0.0% | COM | 829401108 |
| PALI | PALISADE BIO INC | 1,992,367 | $4,682 | 0.7% | $1.92 | 0.0% | COM | 696389402 |
| PROK | PROKIDNEY CORP | 1,838,411 | $4,118 | 0.6% | $2.63 | 0.0% | SHS CL A | 74291D104 |
| BLTE | BELITE BIO INC | 17,989 | $2,878 | 0.4% | $159.96 | — | SPONSORED ADS | 07782B104 |
| ROIV | ROIVANT SCIENCES LTD | 129,800 | $2,817 | 0.4% | $19.73 | 0.0% | SHS | G76279101 |
| DRUG | BRIGHT MINDS BIOSCIENCES INC | 33,407 | $2,607 | 0.4% | $66.83 | 0.0% | COM NEW | 10919W405 |
| SLNO | SOLENO THERAPEUTICS INC | 50,000 | $2,315 | 0.3% | $55.51 | -1.2% | CALL | 834203309 |
| UPB | UPSTREAM BIO INC | 68,653 | $1,864 | 0.3% | $24.89 | 0.0% | COM | 91678A107 |
| PEPG | PEPGEN INC | 205,324 | $1,337 | 0.2% | $5.19 | 0.0% | COM | 713317105 |
| ABVX | ABIVAX SA | 9,900 | $1,335 | 0.2% | $116.11 | — | CALL | 00370M103 |
| CELC | CELCUITY INC | 12,900 | $1,287 | 0.2% | $82.21 | 0.0% | COM | 15102K100 |
| OCUL | OCULAR THERAPEUTIX INC | 85,200 | $1,034 | 0.1% | $11.96 | +1.6% | CALL | 67576A100 |
| NUVL | NUVALENT INC | 8,100 | $815 | 0.1% | $98.60 | 0.0% | COM | 670703107 |
| AVTX | AVALO THERAPEUTICS INC | 41,570 | $755 | 0.1% | $16.88 | 0.0% | COM NEW | 05338F306 |
| PRAX | PRAXIS PRECISION MEDICINES I | 2,500 | $737 | 0.1% | $186.22 | 0.0% | COM NEW | 74006W207 |
| ANRO | ALTO NEUROSCIENCE INC | 29,192 | $520 | 0.1% | $12.59 | 0.0% | COM SHS | 02157Q109 |
| TENX | TENAX THERAPEUTICS INC | 42,080 | $513 | 0.1% | $8.70 | 0.0% | COM NEW | 88032L605 |
| KOD | KODIAK SCIENCES INC | 17,019 | $476 | 0.1% | $20.48 | 0.0% | COM | 50015M109 |
| LYRA | LYRA THERAPEUTICS INC | 8,756 | $27 | 0.0% | $4.98 | 0.0% | COM NEW | 55234L204 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| ABVX | ABIVAX SA | 600,747 (+166.5%) | $81,014 (+323.2%) | 11.5% | $116.11 | — | SPONSORED ADS | 00370M103 |
| LLY | ELI LILLY & CO | 50,500 (+76.0%) | $54,271 (+147.8%) | 7.7% | $882.32 | +8.3% | COM | 532457108 |
| VKTX | VIKING THERAPEUTICS INC | 719,365 (+392.1%) | $25,307 (+558.8%) | 3.6% | $34.07 | +4.0% | COM | 92686J106 |
| QURE | UNIQURE NV | 1,023,539 (+55.4%) | $24,493 (-36.3%) | 3.5% | $25.44 | +51.7% | SHS | N90064101 |
| NAMS | NEWAMSTERDAM PHARMA COMPANY | 503,936 (+158.6%) | $17,678 (+219.0%) | 2.5% | $31.28 | +16.3% | ORDINARY SHARES | N62509109 |
| IONS | IONIS PHARMACEUTICALS INC | 144,376 (+139.9%) | $11,422 (+190.1%) | 1.6% | $64.26 | +17.2% | COM | 462222100 |
| EYPT | EYEPOINT PHARMACEUTICALS INC | 767,098 (+22.1%) | $14,015 (+56.6%) | 2.0% | $11.20 | +26.5% | COM NEW | 30233G209 |
| DNTH | DIANTHUS THERAPEUTICS INC | 205,090 (+88.6%) | $8,452 (+97.6%) | 1.2% | $31.76 | +22.1% | COM | 252828108 |
| MLYS | MINERALYS THERAPEUTICS INC | 137,800 (+143.5%) | $5,001 (+133.0%) | 0.7% | $30.39 | +32.0% | COM | 603170101 |
| RAPP | RAPPORT THERAPEUTICS INC | 138,508 (+114.4%) | $4,202 (+119.0%) | 0.6% | $23.09 | +19.9% | COM | 75383L102 |
| TVTX | TRAVERE THERAPEUTICS INC | 70,700 (+128.8%) | $2,701 (+265.8%) | 0.4% | $27.18 | +19.7% | COM | 89422G107 |
| ASND | ASCENDIS PHARMA A/S | 17,740 (+44.9%) | $3,783 (+55.5%) | 0.5% | $176.21 | — | SPONSORED ADR | 04351P101 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| INSM | INSMED INC | 400,000 | $57,604 | 8.2% | $72.29 | +152.4% | CALL | 457669307 |
| — | VERONA PHARMA PLC | 379,004 | $40,444 | 5.7% | $67.66 | — | — | 925050106 |
| — | MERUS N V | 296,750 | $27,939 | 4.0% | $42.88 | — | — | N5749R100 |
| VRTX | VERTEX PHARMACEUTICALS INC | 55,100 | $21,579 | 3.1% | $421.35 | +2.3% | — | 92532F100 |
| BSX | BOSTON SCIENTIFIC CORP | 183,200 | $17,886 | 2.5% | $101.20 | -3.1% | — | 101137107 |
| REGN | REGENERON PHARMACEUTICALS | 10,671 | $6,000 | 0.9% | $556.12 | +22.0% | — | 75886F107 |
| RARE | ULTRAGENYX PHARMACEUTICAL IN | 150,000 | $4,512 | 0.6% | $33.92 | -3.1% | CALL | 90400D108 |
| NKTR | NEKTAR THERAPEUTICS | 57,999 | $3,300 | 0.5% | $33.10 | +69.1% | — | 640268306 |
| CNTA | CENTESSA PHARMACEUTICALS PLC | 133,291 | $3,232 | 0.5% | $24.25 | — | — | 152309100 |
| TGTX | TG THERAPEUTICS INC | 54,515 | $1,969 | 0.3% | $28.70 | +13.8% | — | 88322Q108 |
| RARE | ULTRAGENYX PHARMACEUTICAL IN | 64,502 | $1,940 | 0.3% | $33.92 | -3.1% | — | 90400D108 |
| IREN | IREN LIMITED | 33,200 | $1,558 | 0.2% | $24.29 | +112.4% | — | Q4982L109 |
| BHVN | BIOHAVEN LTD | 80,000 | $1,201 | 0.2% | $17.82 | -30.5% | — | G1110E107 |
| MREO | MEREO BIOPHARMA GROUP PLC | 475,361 | $979 | 0.1% | $3.23 | — | — | 589492107 |
| SRPT | SAREPTA THERAPEUTICS INC | 44,900 | $865 | 0.1% | $17.83 | +18.2% | — | 803607100 |
| MRNA | MODERNA INC | 23,800 | $615 | 0.1% | $27.90 | -2.6% | — | 60770K107 |
| KALV | KALVISTA PHARMACEUTICALS INC | 41,555 | $506 | 0.1% | $13.82 | -4.2% | — | 483497103 |
| ATYR | ATYR PHARMA INC | 600,000 | $433 | 0.1% | $4.53 | -81.9% | CALL | 002120202 |
| ATYR | ATYR PHARMA INC | 372,276 | $269 | 0.0% | $4.53 | -81.9% | — | 002120202 |
| ALEC | ALECTOR INC | 71,029 | $210 | 0.0% | $2.20 | -19.5% | — | 014442107 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| SLNO | SOLENO THERAPEUTICS INC | 533,698 (-20.6%) | $24,710 (-45.6%) | 3.5% | $55.51 | -1.2% | COM | 834203309 |
| INSM | INSMED INC | 682,212 (-6.8%) | $118,732 (+12.6%) | 16.8% | $72.29 | +152.4% | COM PAR $.01 | 457669307 |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 17,400 (-49.7%) | $6,919 (-56.1%) | 1.0% | $280.16 | +58.0% | COM | 02043Q107 |
| DGX | QUEST DIAGNOSTICS INC | 40,817 (-50.1%) | $7,083 (-54.5%) | 1.0% | $165.04 | +10.3% | COM | 74834L100 |
| ARGX | ARGENX SE | 64,699 (-17.4%) | $54,409 (-5.8%) | 7.7% | $527.57 | — | SPONSORED ADR | 04016X101 |
| RNA | AVIDITY BIOSCIENCES INC | 60,100 (-45.4%) | $4,335 (-9.6%) | 0.6% | $37.09 | +74.2% | COM | 05370A108 |
| UGL | PROSHARES TR II | 442,119 (-17.7%) | $24,546 (-0.8%) | 3.5% | $46.06 | — | ULTRA GOLD | 74347W601 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| TRVI | TREVI THERAPEUTICS INC | 2,013,602 | $25,210 | 3.6% | $6.66 | +73.5% | COM | 89532M101 |
| RVMD | REVOLUTION MEDICINES INC | 104,190 | $8,299 | 1.2% | $48.13 | +36.2% | COM | 76155X100 |
| AZN | ASTRAZENECA PLC | 190,752 | $17,536 | 2.5% | $69.76 | — | SPONSORED ADR | 046353108 |
| SRRK | SCHOLAR ROCK HLDG CORP | 96,285 | $4,241 | 0.6% | $38.47 | -2.5% | COM | 80706P103 |
| BBIO | BRIDGEBIO PHARMA INC | 20,400 | $1,560 | 0.2% | $48.77 | +34.6% | COM | 10806X102 |
| PTGX | PROTAGONIST THERAPEUTICS INC | 22,951 | $2,005 | 0.3% | $36.55 | +123.9% | COM | 74366E102 |
| UTHR | UNITED THERAPEUTICS CORP DEL | 5,000 | $2,436 | 0.3% | $342.70 | +35.9% | COM | 91307C102 |
| BTSG | BRIGHTSPRING HEALTH SVCS INC | 41,600 | $1,558 | 0.2% | $23.24 | +44.3% | COM | 10950A106 |
| XENE | XENON PHARMACEUTICALS INC | 40,000 | $1,793 | 0.3% | $46.00 | -8.7% | COM | 98420N105 |
| KNSA | KINIKSA PHARMACEUTICALS INTL | 29,200 | $1,205 | 0.2% | $25.46 | +57.6% | ORD SHS CL A | G52694109 |
| OCUL | OCULAR THERAPEUTIX INC | 141,061 | $1,712 | 0.2% | $11.96 | +1.6% | COM | 67576A100 |
| ABBV | ABBVIE INC | 14,500 | $3,313 | 0.5% | $182.67 | +24.6% | COM | 00287Y109 |