Ishara Investments LP Concentrated Active

CIK: 0002111609 · Show all filings

Period: Q4 2025

Filing Date: Feb 17, 2026

Total Value ($000): $87,455 (100.0% shares, 0.0% debt)

Holdings (38)

PRAX PRAXIS PRECISION MEDICINES I 13.5%

Value ($000) $11,790 Shares 40,000 Est. Cost $186.22 Unrealized 0.0%

XERS XERIS BIOPHARMA HOLDINGS INC 7.2%

Value ($000) $6,280 Shares 800,000 Est. Cost $7.87 Unrealized 0.0%

BMRN BIOMARIN PHARMACEUTICAL INC 6.8%

Value ($000) $5,943 Shares 100,000 Est. Cost $54.44 Unrealized 0.0%

FOLD AMICUS THERAPEUTICS INC 5.9%

Value ($000) $5,126 Shares 360,000 Est. Cost $9.82 Unrealized 0.0%

ACAD ACADIA PHARMACEUTICALS INC 4.9%

Value ($000) $4,274 Shares 160,000 Est. Cost $23.90 Unrealized 0.0%

ANNX ANNEXON INC 4.3%

Value ($000) $3,765 Shares 750,000 Est. Cost $3.82 Unrealized 0.0%

NUVB NUVATION BIO INC 4.1%

Value ($000) $3,584 Shares 400,000 Est. Cost $6.19 Unrealized 0.0%

BBIO BRIDGEBIO PHARMA INC 3.1%

Value ($000) $2,754 Shares 36,000 Est. Cost $65.64 Unrealized 0.0%

PTCT PTC THERAPEUTICS INC 3.1%

Value ($000) $2,735 Shares 36,000 Est. Cost $72.67 Unrealized 0.0%

UTHR UNITED THERAPEUTICS CORP DEL 3.1%

Value ($000) $2,680 Shares 5,500 Est. Cost $465.69 Unrealized 0.0%

BCRX BIOCRYST PHARMACEUTICALS INC 2.7%

Value ($000) $2,340 Shares 300,000 Est. Cost $7.23 Unrealized 0.0%

PCVX VAXCYTE INC 2.6%

Value ($000) $2,307 Shares 50,000 Est. Cost $44.73 Unrealized 0.0%

GMAB GENMAB A/S 2.5%

Value ($000) $2,156 Shares 70,000 Est. Cost $30.80 Unrealized —

SNDX SYNDAX PHARMACEUTICALS INC 2.4%

Value ($000) $2,101 Shares 100,000 Est. Cost $17.45 Unrealized 0.0%

VSTM VERASTEM INC 2.4%

Value ($000) $2,084 Shares 270,000 Est. Cost $8.91 Unrealized 0.0%

TARS TARSUS PHARMACEUTICALS INC 2.2%

Value ($000) $1,965 Shares 24,000 Est. Cost $74.67 Unrealized 0.0%

APOG APOGEE ENTERPRISES INC 2.2%

Value ($000) $1,887 Shares 25,000 Est. Cost $37.45 Unrealized 0.0%

ZNTL ZENTALIS PHARMACEUTICALS INC 2.0%

Value ($000) $1,782 Shares 1,320,000 Est. Cost $1.46 Unrealized 0.0%

INSM INSMED INC 2.0%

Value ($000) $1,740 Shares 10,000 Est. Cost $182.48 Unrealized 0.0%

CORT CORCEPT THERAPEUTICS INC 1.8%

Value ($000) $1,531 Shares 44,000 Est. Cost — Unrealized —

SLN SILENCE THERAPEUTICS PLC 1.7%

Value ($000) $1,459 Shares 240,000 Est. Cost $6.08 Unrealized —

EWTX EDGEWISE THERAPEUTICS INC 1.6%

Value ($000) $1,439 Shares 58,000 Est. Cost $20.07 Unrealized 0.0%

BEAM BEAM THERAPEUTICS INC 1.6%

Value ($000) $1,386 Shares 50,000 Est. Cost $25.51 Unrealized 0.0%

ORIC ORIC PHARMACEUTICALS INC 1.5%

Value ($000) $1,309 Shares 160,000 Est. Cost $11.51 Unrealized 0.0%

APLS APELLIS PHARMACEUTICALS INC 1.4%

Value ($000) $1,256 Shares 50,000 Est. Cost $23.46 Unrealized 0.0%

DNLI DENALI THERAPEUTICS INC 1.3%

Value ($000) $1,156 Shares 70,000 Est. Cost $16.88 Unrealized 0.0%

RARE ULTRAGENYX PHARMACEUTICAL IN 1.3%

Value ($000) $1,150 Shares 50,000 Est. Cost $32.88 Unrealized 0.0%

ASND ASCENDIS PHARMA A/S 1.2%

Value ($000) $1,066 Shares 5,000 Est. Cost $213.24 Unrealized —

NAMS NEWAMSTERDAM PHARMA COMPANY 1.2%

Value ($000) $1,052 Shares 30,000 Est. Cost $36.39 Unrealized 0.0%

LXRX LEXICON PHARMACEUTICALS INC 1.2%

Value ($000) $1,012 Shares 880,000 Est. Cost $1.37 Unrealized 0.0%

BHVN BIOHAVEN LTD 1.1%

Value ($000) $994 Shares 88,000 Est. Cost $12.39 Unrealized 0.0%

DNTH DIANTHUS THERAPEUTICS INC 1.1%

Value ($000) $989 Shares 24,000 Est. Cost $38.77 Unrealized 0.0%

NKTR NEKTAR THERAPEUTICS 1.0%

Value ($000) $846 Shares 20,000 Est. Cost $55.96 Unrealized 0.0%

IMTX IMMATICS N.V 1.0%

Value ($000) $840 Shares 80,000 Est. Cost $10.09 Unrealized 0.0%

AGIO AGIOS PHARMACEUTICALS INC 0.9%

Value ($000) $817 Shares 30,000 Est. Cost $35.08 Unrealized 0.0%

IMVT IMMUNOVANT INC 0.9%

Value ($000) $763 Shares 30,000 Est. Cost $22.30 Unrealized 0.0%

OLMA OLEMA PHARMACEUTICALS INC 0.9%

Value ($000) $750 Shares 30,000 Est. Cost $17.79 Unrealized 0.0%

ARQT ARCUTIS BIOTHERAPEUTICS INC 0.4%

Value ($000) $348 Shares 12,000 Est. Cost $25.60 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PRAX	PRAXIS PRECISION MEDICINES I	40,000	$11,790	13.5%	$186.22	0.0%	COM NEW	74006W207
XERS	XERIS BIOPHARMA HOLDINGS INC	800,000	$6,280	7.2%	$7.87	0.0%	COM	98422E103
BMRN	BIOMARIN PHARMACEUTICAL INC	100,000	$5,943	6.8%	$54.44	0.0%	COM	09061G101
FOLD	AMICUS THERAPEUTICS INC	360,000	$5,126	5.9%	$9.82	0.0%	COM	03152W109
ACAD	ACADIA PHARMACEUTICALS INC	160,000	$4,274	4.9%	$23.90	0.0%	COM	004225108
ANNX	ANNEXON INC	750,000	$3,765	4.3%	$3.82	0.0%	COM	03589W102
NUVB	NUVATION BIO INC	400,000	$3,584	4.1%	$6.19	0.0%	COM CL A	67080N101
BBIO	BRIDGEBIO PHARMA INC	36,000	$2,754	3.1%	$65.64	0.0%	COM	10806X102
PTCT	PTC THERAPEUTICS INC	36,000	$2,735	3.1%	$72.67	0.0%	COM	69366J200
UTHR	UNITED THERAPEUTICS CORP DEL	5,500	$2,680	3.1%	$465.69	0.0%	COM	91307C102
BCRX	BIOCRYST PHARMACEUTICALS INC	300,000	$2,340	2.7%	$7.23	0.0%	COM	09058V103
PCVX	VAXCYTE INC	50,000	$2,307	2.6%	$44.73	0.0%	COM	92243G108
GMAB	GENMAB A/S	70,000	$2,156	2.5%	$30.80	—	SPONSORED ADS	372303206
SNDX	SYNDAX PHARMACEUTICALS INC	100,000	$2,101	2.4%	$17.45	0.0%	COM	87164F105
VSTM	VERASTEM INC	270,000	$2,084	2.4%	$8.91	0.0%	COM NEW	92337C203
TARS	TARSUS PHARMACEUTICALS INC	24,000	$1,965	2.2%	$74.67	0.0%	COM	87650L103
APOG	APOGEE ENTERPRISES INC	25,000	$1,887	2.2%	$37.45	0.0%	COM	037598109
ZNTL	ZENTALIS PHARMACEUTICALS INC	1,320,000	$1,782	2.0%	$1.46	0.0%	COM	98943L107
INSM	INSMED INC	10,000	$1,740	2.0%	$182.48	0.0%	COM PAR $.01	457669307
CORT	CORCEPT THERAPEUTICS INC	44,000	$1,531	1.8%	—	—	Call	218352102
SLN	SILENCE THERAPEUTICS PLC	240,000	$1,459	1.7%	$6.08	—	ADS	82686Q101
EWTX	EDGEWISE THERAPEUTICS INC	58,000	$1,439	1.6%	$20.07	0.0%	COM	28036F105
BEAM	BEAM THERAPEUTICS INC	50,000	$1,386	1.6%	$25.51	0.0%	COM	07373V105
ORIC	ORIC PHARMACEUTICALS INC	160,000	$1,309	1.5%	$11.51	0.0%	COM	68622P109
APLS	APELLIS PHARMACEUTICALS INC	50,000	$1,256	1.4%	$23.46	0.0%	COM	03753U106
DNLI	DENALI THERAPEUTICS INC	70,000	$1,156	1.3%	$16.88	0.0%	COM	24823R105
RARE	ULTRAGENYX PHARMACEUTICAL IN	50,000	$1,150	1.3%	$32.88	0.0%	COM	90400D108
ASND	ASCENDIS PHARMA A/S	5,000	$1,066	1.2%	$213.24	—	SPONSORED ADR	04351P101
NAMS	NEWAMSTERDAM PHARMA COMPANY	30,000	$1,052	1.2%	$36.39	0.0%	ORDINARY SHARES	N62509109
LXRX	LEXICON PHARMACEUTICALS INC	880,000	$1,012	1.2%	$1.37	0.0%	COM NEW	528872302
BHVN	BIOHAVEN LTD	88,000	$994	1.1%	$12.39	0.0%	COM	G1110E107
DNTH	DIANTHUS THERAPEUTICS INC	24,000	$989	1.1%	$38.77	0.0%	COM	252828108
NKTR	NEKTAR THERAPEUTICS	20,000	$846	1.0%	$55.96	0.0%	COM NEW	640268306
IMTX	IMMATICS N.V	80,000	$840	1.0%	$10.09	0.0%	SHS	N44445109
AGIO	AGIOS PHARMACEUTICALS INC	30,000	$817	0.9%	$35.08	0.0%	COM	00847X104
IMVT	IMMUNOVANT INC	30,000	$763	0.9%	$22.30	0.0%	COM	45258J102
OLMA	OLEMA PHARMACEUTICALS INC	30,000	$750	0.9%	$17.79	0.0%	COM	68062P106
ARQT	ARCUTIS BIOTHERAPEUTICS INC	12,000	$348	0.4%	$25.60	0.0%	COM	03969K108