CIK: 0002011932 · Show all filings
Period: Q4 2025 (← Previous)
Filing Date: Feb 13, 2026
Total Value ($000): $209,146 (100.0% shares, 0.0% debt)
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| WVE | WAVE LIFE SCIENCES LTD | 421,488 | $7,165 | 3.4% | $10.16 | 0.0% | SHS | Y95308105 |
| ELV | ELEVANCE HEALTH INC FORMERLY | 17,191 | $6,026 | 2.9% | $336.70 | 0.0% | COM | 036752103 |
| JAZZ | JAZZ PHARMACEUTICALS PLC | 26,494 | $4,504 | 2.2% | $153.31 | 0.0% | SHS USD | G50871105 |
| AGIO | AGIOS PHARMACEUTICALS INC | 136,942 | $3,728 | 1.8% | $35.08 | 0.0% | COM | 00847X104 |
| ELVN | ENLIVEN THERAPEUTICS INC | 222,308 | $3,424 | 1.6% | $19.92 | 0.0% | COM | 29337E102 |
| CELC | CELCUITY INC | 34,289 | $3,420 | 1.6% | $82.21 | 0.0% | COM | 15102K100 |
| APLS | APELLIS PHARMACEUTICALS INC | 135,849 | $3,413 | 1.6% | $23.46 | 0.0% | COM | 03753U106 |
| DXCM | DEXCOM INC | 50,147 | $3,328 | 1.6% | $64.65 | 0.0% | COM | 252131107 |
| VSTM | VERASTEM INC | 401,743 | $3,101 | 1.5% | $8.91 | 0.0% | COM NEW | 92337C203 |
| — | TRAVERE THERAPEUTICS INC | 74,700 | $2,854 | 1.4% | — | — | PUT | 89422G957 |
| IMCR | IMMUNOCORE HLDGS PLC | 76,750 | $2,664 | 1.3% | $34.71 | — | ADS | 45258D105 |
| NXTC | NEXTCURE INC | 165,000 | $2,341 | 1.1% | $10.36 | 0.0% | COM NEW | 65343E207 |
| BLTE | BELITE BIO INC | 14,328 | $2,292 | 1.1% | $159.96 | — | SPONSORED ADS | 07782B104 |
| IRWD | IRONWOOD PHARMACEUTICALS INC | 648,532 | $2,186 | 1.0% | $2.60 | 0.0% | COM CL A | 46333X108 |
| KPTI | KARYOPHARM THERAPEUTICS INC | 295,541 | $2,175 | 1.0% | $6.12 | 0.0% | COM NEW | 48576U205 |
| ADAG | ADAGENE INC | 1,060,221 | $2,004 | 1.0% | $1.89 | — | ADS | 005329107 |
| UNH | UNITEDHEALTH GROUP INC | 5,835 | $1,926 | 0.9% | $337.21 | 0.0% | COM | 91324P102 |
| PALI | PALISADE BIO INC | 758,203 | $1,782 | 0.9% | $1.92 | 0.0% | COM | 696389402 |
| — | DISC MEDICINE INC | 16,000 | $1,271 | 0.6% | — | — | PUT | 254604951 |
| IKT | INHIBIKASE THERAPEUTICS INC | 600,000 | $1,230 | 0.6% | $1.59 | 0.0% | COM NEW | 45719W205 |
| IQV | IQVIA HLDGS INC | 5,378 | $1,212 | 0.6% | $217.58 | 0.0% | COM | 46266C105 |
| — | ULTRAGENYX PHARMACEUTICAL IN | 35,200 | $810 | 0.4% | — | — | CALL | 90400D958 |
| — | ALUMIS INC | 53,200 | $519 | 0.2% | — | — | PUT | 022307952 |
| — | ALDEYRA THERAPEUTICS INC | 100,000 | $518 | 0.2% | — | — | CALL | 01438T906 |
| RAPT | RAPT THERAPEUTICS INC | 14,194 | $481 | 0.2% | $31.06 | 0.0% | COM NEW | 75382E208 |
| — | SOLENO THERAPEUTICS INC | 7,100 | $328 | 0.2% | — | — | PUT | 834203959 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| UHS | UNIVERSAL HLTH SVCS INC | 17,628 (+121.6%) | $3,843 (+136.3%) | 1.8% | $202.45 | +9.1% | CL B | 913903100 |
| GKOS | GLAUKOS CORP | 31,471 (+15.9%) | $3,553 (+60.5%) | 1.7% | $92.34 | +3.5% | COM | 377322102 |
| UTHR | UNITED THERAPEUTICS CORP DEL | 7,685 (+15.7%) | $3,745 (+34.4%) | 1.8% | $353.82 | +31.6% | COM | 91307C102 |
| UPB | UPSTREAM BIO INC | 64,845 (+24.8%) | $1,761 (+80.1%) | 0.8% | $17.40 | +43.1% | COM | 91678A107 |
| WAY | WAYSTAR HLDG CORP | 68,969 (+47.1%) | $2,259 (+27.0%) | 1.1% | $37.59 | -5.2% | COM | 946784105 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| — | 89BIO INC | 273,661 | $4,023 | 1.9% | $8.43 | — | — | 282559103 |
| APGE | APOGEE THERAPEUTICS INC | 94,400 | $3,751 | 1.8% | $38.18 | +65.0% | — | 03770N101 |
| CVS | CVS HEALTH CORP | 43,600 | $3,287 | 1.6% | $67.82 | +16.0% | — | 126650100 |
| SLNO | SOLENO THERAPEUTICS INC | 48,445 | $3,275 | 1.6% | $54.95 | -0.2% | — | 834203309 |
| — | AKERO THERAPEUTICS INC | 58,579 | $2,781 | 1.3% | $47.48 | — | — | 00973Y108 |
| PPH | VANECK ETF TRUST | 30,000 | $2,711 | 1.3% | — | — | CALL | 92189F692 |
| — | TRAVERE THERAPEUTICS INC | 110,000 | $2,629 | 1.3% | — | — | CALL | 89422G907 |
| GERN | GERON CORP | 1,858,354 | $2,546 | 1.2% | $3.24 | -61.2% | — | 374163103 |
| CNTA | CENTESSA PHARMACEUTICALS PLC | 88,024 | $2,135 | 1.0% | $11.66 | — | — | 152309100 |
| — | NOVO-NORDISK A S | 35,000 | $1,942 | 0.9% | — | — | CALL | 670100905 |
| COR | CENCORA INC | 6,000 | $1,875 | 0.9% | $293.50 | +16.1% | — | 03073E105 |
| SNDX | SYNDAX PHARMACEUTICALS INC | 117,783 | $1,812 | 0.9% | $16.95 | +2.9% | — | 87164F105 |
| — | SAREPTA THERAPEUTICS INC | 2,000,000 | $1,764 | 0.8% | $0.72 | — | — | 803607AD2 |
| — | KARYOPHARM THERAPEUTICS INC | 2,000,000 | $1,634 | 0.8% | $0.76 | — | — | 48576UAA4 |
| ORIC | ORIC PHARMACEUTICALS INC | 120,644 | $1,448 | 0.7% | $10.52 | +9.4% | — | 68622P109 |
| PRCT | PROCEPT BIOROBOTICS CORP | 39,900 | $1,424 | 0.7% | $45.66 | -27.4% | — | 74276L105 |
| INSP | INSPIRE MED SYS INC | 18,600 | $1,380 | 0.7% | $101.25 | -5.5% | — | 457730109 |
| QURE | UNIQURE NV | 22,090 | $1,289 | 0.6% | $18.16 | +112.5% | — | N90064101 |
| MLTX | MOONLAKE IMMUNOTHERAPEUTICS | 178,084 | $1,277 | 0.6% | $52.12 | -77.4% | — | 61559X104 |
| AVTX | AVALO THERAPEUTICS INC | 100,036 | $1,271 | 0.6% | $8.60 | +96.3% | — | 05338F306 |
| — | LIQUIDIA CORPORATION | 53,000 | $1,205 | 0.6% | — | — | PUT | 53635D952 |
| — | ARCTURUS THERAPEUTICS HLDGS | 50,000 | $922 | 0.4% | — | — | PUT | 03969T959 |
| MBX | MBX BIOSCIENCES INC | 52,402 | $917 | 0.4% | $10.57 | +129.5% | — | 55287L101 |
| — | MBX BIOSCIENCES INC | 50,500 | $884 | 0.4% | — | — | PUT | 55287L951 |
| — | COGENT BIOSCIENCES INC | 45,000 | $646 | 0.3% | — | — | CALL | 19240Q901 |
| — | CENTESSA PHARMACEUTICALS PLC | 25,000 | $606 | 0.3% | — | — | PUT | 152309950 |
| — | PRAXIS PRECISION MEDICINES I | 10,000 | $530 | 0.3% | — | — | CALL | 74006W907 |
| — | MBX BIOSCIENCES INC | 30,000 | $525 | 0.3% | — | — | CALL | 55287L901 |
| ACAD | ACADIA PHARMACEUTICALS INC | 20,000 | $427 | 0.2% | — | — | PUT | 004225108 |
| — | KARYOPHARM THERAPEUTICS INC | 48,100 | $315 | 0.2% | — | — | PUT | 48576U955 |
| REPL | REPLIMUNE GROUP INC | 73,614 | $308 | 0.1% | $11.40 | -25.4% | — | 76029N106 |
| VTYX | VENTYX BIOSCIENCES INC | 60,600 | $188 | 0.1% | $2.65 | +182.1% | — | 92332V107 |
| IMUX | IMMUNIC INC | 173,900 | $153 | 0.1% | $0.88 | -16.9% | — | 4525EP101 |
| ATYR | ATYR PHARMA INC | 40,000 | $29 | 0.0% | — | — | CALL | 002120202 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| PRAX | PRAXIS PRECISION MEDICINES I | 58,122 (-43.0%) | $17,131 (+216.9%) | 8.2% | $42.47 | +338.5% | COM NEW | 74006W207 |
| COGT | COGENT BIOSCIENCES INC | 305,568 (-31.1%) | $10,854 (+70.4%) | 5.2% | $7.84 | +258.6% | COM | 19240Q201 |
| NBP | NOVABRIDGE BIOSCIENCES | 499,587 (-65.3%) | $1,988 (-63.5%) | 1.0% | $3.78 | — | SPONSORED ADS | 44975P103 |
| THC | TENET HEALTHCARE CORP | 6,084 (-66.4%) | $1,209 (-67.1%) | 0.6% | $150.53 | +34.3% | COM NEW | 88033G407 |
| CRBP | CORBUS PHARMACEUTICALS HLDGS | 139,543 (-39.3%) | $1,136 (-61.0%) | 0.5% | $8.83 | +39.8% | COM NEW | 21833P301 |
| VERA | VERA THERAPEUTICS INC | 124,391 (-20.3%) | $6,299 (+38.9%) | 3.0% | $22.81 | +55.7% | CL A | 92337R101 |
| LQDA | LIQUIDIA CORPORATION | 91,148 (-3.3%) | $3,144 (+46.7%) | 1.5% | $20.19 | +41.0% | COM NEW | 53635D202 |
| BBIO | BRIDGEBIO PHARMA INC | 80,723 (-39.3%) | $6,175 (-10.7%) | 3.0% | $27.07 | +142.4% | COM | 10806X102 |
| IONS | IONIS PHARMACEUTICALS INC | 116,515 (-11.1%) | $9,218 (+7.5%) | 4.4% | $35.90 | +109.7% | COM | 462222100 |
| TVTX | TRAVERE THERAPEUTICS INC | 89,052 (-43.2%) | $3,403 (-9.3%) | 1.6% | $19.42 | +67.4% | COM | 89422G107 |
| IRON | DISC MEDICINE INC | 46,743 (-23.8%) | $3,712 (-8.4%) | 1.8% | $36.21 | +133.3% | COM | 254604101 |
| EWTX | EDGEWISE THERAPEUTICS INC | 100,046 (-42.3%) | $2,483 (-11.7%) | 1.2% | $17.91 | +12.1% | COM | 28036F105 |
| ARWR | ARROWHEAD PHARMACEUTICALS IN | 49,758 (-52.4%) | $3,303 (-8.4%) | 1.6% | $21.98 | +122.9% | COM | 04280A100 |
| FULC | FULCRUM THERAPEUTICS INC | 92,055 (-6.8%) | $1,041 (+14.5%) | 0.5% | $3.68 | +176.6% | COM | 359616109 |
| CYTK | CYTOKINETICS INC | 124,749 (-12.4%) | $7,927 (+1.3%) | 3.8% | $48.43 | +28.4% | COM NEW | 23282W605 |
| Ticker | Issuer | Shares | Value ($000) | % | Est. Cost | Unrealized | Class | CUSIP |
|---|---|---|---|---|---|---|---|---|
| GH | GUARDANT HEALTH INC | 98,182 | $10,028 | 4.8% | $24.57 | +264.2% | COM | 40131M109 |
| LLY | ELI LILLY & CO | 7,852 | $8,438 | 4.0% | $656.19 | +45.6% | COM | 532457108 |
| ALMS | ALUMIS INC | 292,250 | $2,852 | 1.4% | $4.12 | +69.5% | COM | 022307102 |
| IMVT | IMMUNOVANT INC | 158,622 | $4,032 | 1.9% | $16.19 | +37.7% | COM | 45258J102 |
| NTRA | NATERA INC | 18,650 | $4,273 | 2.0% | $60.94 | +242.3% | COM | 632307104 |
| AZN | ASTRAZENECA PLC | 28,362 | $5,261 | 2.5% | $150.54 | — | SPONSORED ADR | 046353108 |
| CTMX | CYTOMX THERAPEUTICS INC | 745,305 | $3,175 | 1.5% | $2.25 | +68.7% | COM | 23284F105 |
| ISRG | INTUITIVE SURGICAL INC | 6,358 | $3,601 | 1.7% | $322.19 | +65.2% | COM NEW | 46120E602 |
| TXG | 10X GENOMICS INC | 163,658 | $2,669 | 1.3% | $9.12 | +65.7% | CL A COM | 88025U109 |
| PEN | PENUMBRA INC | 9,000 | $2,798 | 1.3% | $227.37 | +21.5% | COM | 70975L107 |
| ESTA | ESTABLISHMENT LABS HLDGS INC | 13,100 | $955 | 0.5% | $50.73 | +19.0% | COM | G31249108 |
| GOSS | GOSSAMER BIO INC | 451,699 | $1,400 | 0.7% | $0.81 | +252.0% | COM | 38341P102 |
| — | PRECIGEN INC | 100,000 | $418 | 0.2% | — | — | PUT | 74017N955 |
| ABUS | ARBUTUS BIOPHARMA CORP | 75,484 | $363 | 0.2% | $3.32 | +35.4% | COM | 03879J100 |