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Armistice Capital Portfolio holdings

AUM $5.62B
1-Year Est. Return 36.06%
This Fund
S&P 500
This Quarter Est. Return
+15.6%
1 Year Est. Return
+36.06%
3 Year Est. Return
+44.14%
5 Year Est. Return
+38.37%
10 Year Est. Return
+188.88%
AUM
$8.4B
AUM Growth
+$1.66B
Cap. Flow
+$1.33B
Cap. Flow %
15.85%
Top 10 Hldgs %
61.33%
Holding
510
New
182
Increased
113
Reduced
52
Closed
146

Top Buys

Rank Stock Value
1
AGIO icon
Agios Pharmaceuticals
AGIO
+$79.7M
2
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$74.4M
3
KVUE icon
Kenvue
KVUE
+$65.3M
4
ELF icon
e.l.f. Beauty
ELF
+$51.7M
5
GSK icon
GSK
GSK
+$46.6M

Top Sells

Rank Stock Value
1
TVTX icon
Travere Therapeutics
TVTX
+$96.3M
2
EXAS
Exact Sciences
EXAS
+$56.4M
3
PTCT icon
PTC Therapeutics
PTCT
+$34.5M
4
REGN icon
Regeneron Pharmaceuticals
REGN
+$28M
5
MDB icon
MongoDB
MDB
+$23M

Sector Composition

Rank Sector Weight
1 Healthcare 32.56%
2 Technology 5.44%
3 Consumer Discretionary 5.13%
4 Consumer Staples 2.69%
5 Communication Services 1.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$774B
$2.05B 24.34%
3,000,000
+500,000
+20% +$338M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$82.2B
$1.99B 23.72%
8,100,000
+1,100,000
+16% +$270M
PTCT icon
3
PTC Therapeutics
PTCT
$6.52B
$213M 2.53%
2,801,869
-475,403
-15% -$34.5M
MDGL icon
4
Madrigal Pharmaceuticals
MDGL
$12.8B
$155M 1.84%
265,705
+145,723
+121% +$74.4M
IMVT icon
5
Immunovant
IMVT
$8.27B
$146M 1.74%
5,747,155
-88,845
-2% -$1.98M
TVTX icon
6
Travere Therapeutics
TVTX
$5.27B
$144M 1.71%
3,763,891
-2,960,109
-44% -$96.3M
SUPN icon
7
Supernus Pharmaceuticals
SUPN
$2.79B
$137M 1.63%
2,764,000
-72,000
-3% -$3.5M
NBIX icon
8
Neurocrine Biosciences
NBIX
$17.2B
$116M 1.38%
820,240
+123,218
+18% +$17.9M
INCY icon
9
Incyte
INCY
$23.4B
$108M 1.29%
1,098,102
-69,329
-6% -$6.71M
CYTK icon
10
CALL
Cytokinetics
CYTK
$10.9B
$95.3M 1.13%
1,500,000
+550,000
+58% +$34.2M
AMZN icon
11
Amazon
AMZN
$2.66T
$84.9M 1.01%
367,633
+58,233
+19% +$13.3M
XRAY icon
12
Dentsply Sirona
XRAY
$2.81B
$83.4M 0.99%
7,298,000
+1,562,000
+27% +$18.3M
AGIO icon
13
Agios Pharmaceuticals
AGIO
$2.36B
$82.6M 0.98%
3,036,000
+2,272,000
+297% +$79.7M
AGIO icon
14
CALL
Agios Pharmaceuticals
AGIO
$2.36B
$81.7M 0.97%
3,000,000
+2,100,000
+233% +$73.7M
FRPT icon
15
Freshpet
FRPT
$2.78B
$79M 0.94%
1,296,000
+61,198
+5% +$3.47M
KVUE icon
16
Kenvue
KVUE
$36.4B
$68.9M 0.82%
+3,992,196
New +$65.3M
GEHC icon
17
GE HealthCare
GEHC
$28.7B
$65M 0.77%
792,000
-3,053
-0.4% -$238K
REGN icon
18
Regeneron Pharmaceuticals
REGN
$70.9B
$64.8M 0.77%
84,000
-41,206
-33% -$28M
DYN icon
19
Dyne Therapeutics
DYN
$3.92B
$63.6M 0.76%
3,249,708
+185,708
+6% +$3.52M
CYTK icon
20
Cytokinetics
CYTK
$10.9B
$63.1M 0.75%
992,766
-204,102
-17% -$12.7M
GOOGL icon
21
Alphabet (Google) Class A
GOOGL
$4.23T
$61.5M 0.73%
196,420
-34,261
-15% -$9.79M
MSFT icon
22
Microsoft
MSFT
$2.93T
$57.2M 0.68%
118,337
+31,092
+36% +$15.6M
IRWD icon
23
Ironwood Pharmaceuticals
IRWD
$635M
$54M 0.64%
16,025,000
-125,000
-0.8% -$325K
KURA icon
24
Kura Oncology
KURA
$964M
$51.3M 0.61%
4,936,000
+264,000
+6% +$2.77M
ELF icon
25
e.l.f. Beauty
ELF
$4.34B
$50M 0.6%
657,983
+525,018
+395% +$51.7M
1
2 3 4 5

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Armistice Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Armistice Capital held 510 positions worth $8.4B, up 25% from $6.74B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Armistice Capital deployed $1.33B of net new capital in Q4 2025, opening 182 new positions and adding to 113 existing holdings. Its largest new stake was Kenvue: 3,992,196 shares worth $68.9M.

By sector, the portfolio is most concentrated in Healthcare at 33% of assets, up from 32% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Travere Therapeutics, an estimated $96.3M trimmed.

  • Armistice Capital's largest Q4 2025 buy was Kenvue: 3,992,196 shares worth $68.9M.
  • Armistice Capital added most to Agios Pharmaceuticals in Q4 2025, an estimated $79.7M increase.
  • Armistice Capital's biggest Q4 2025 reduction was Travere Therapeutics, cutting an estimated $96.3M.
  • Armistice Capital fully exited Exact Sciences in Q4 2025, selling an estimated $56.4M.
  • Armistice Capital's ten largest holdings make up 61% of its $8.4B portfolio in Q4 2025.
  • Armistice Capital opened 182 new positions and closed 146 in Q4 2025.
  • Armistice Capital's portfolio value rose 25% quarter-over-quarter to $8.4B.

Based on Armistice Capital's 13F filing for Q4 2025, filed 17 Feb 2026.