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BCM

Boxer Capital Management Portfolio holdings

AUM $762M
1-Year Est. Return 1,125.36%
This Fund
S&P 500
This Quarter Est. Return
+76.9%
1 Year Est. Return
+1,125.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$457M
AUM Growth
+$143M
Cap. Flow
+$59.6M
Cap. Flow %
13.05%
Top 10 Hldgs %
62.11%
Holding
49
New
15
Increased
14
Reduced
8
Closed
4

Top Buys

Rank Stock Value
1
CELC icon
Celcuity
CELC
+$11.1M
2
TNGX icon
Tango Therapeutics
TNGX
+$9.52M
3
PALI icon
Palisade Bio
PALI
+$9.23M
4
TERN
Terns Pharmaceuticals
TERN
+$8.67M
5
PRAX icon
Praxis Precision Medicines
PRAX
+$8.65M

Top Sells

Rank Stock Value
1
QURE icon
uniQure
QURE
+$19.7M
2
MRUS
Merus
MRUS
+$11.3M
3
NKTR icon
Nektar Therapeutics
NKTR
+$7.11M
4
CYTK icon
Cytokinetics
CYTK
+$6.22M
5
DNLI icon
Denali Therapeutics
DNLI
+$3.63M

Sector Composition

Rank Sector Weight
1 Healthcare 99.72%
2 Consumer Staples 0.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APGE icon
26
Apogee Therapeutics
APGE
$10.1B
$5.28M 1.16%
70,000
+20,000
+40% +$1.26M
GPCR icon
27
Structure Therapeutics
GPCR
$3.44B
$5.22M 1.14%
+75,000
New +$3.06M
AVTX icon
28
Avalo Therapeutics
AVTX
$955M
$4.99M 1.09%
275,000
+150,000
+120% +$2.53M
INO icon
29
Inovio Pharmaceuticals
INO
$57.3M
$4.21M 0.92%
2,420,122
+120,122
+5% +$265K
UPB
30
Upstream Bio Inc
UPB
$349M
$4.07M 0.89%
+150,000
New +$3.73M
VIR icon
31
Vir Biotechnology
VIR
$1.5B
$3.77M 0.82%
+625,000
New +$3.72M
IVVD icon
32
Invivyd
IVVD
$163M
$3.71M 0.81%
+1,500,000
New +$3.12M
MLTX icon
33
MoonLake Immunotherapeutics
MLTX
$1.48B
$3.62M 0.79%
275,000
+25,000
+10% +$295K
SRPT icon
34
Sarepta Therapeutics
SRPT
$1.68B
$3.23M 0.71%
150,000
-100,000
-40% -$2.11M
PEPG icon
35
PepGen
PEPG
$130M
$2.43M 0.53%
373,892
+123,892
+50% +$643K
NRIX icon
36
Nurix Therapeutics
NRIX
$2.41B
$1.9M 0.42%
100,000
-75,000
-43% -$1.08M
KPTI icon
37
Karyopharm Therapeutics
KPTI
$44.6M
$1.86M 0.41%
+252,536
New +$1.54M
SLDB icon
38
Solid Biosciences
SLDB
$790M
$1.69M 0.37%
300,000
-300,000
-50% -$1.63M
LBRX
39
LB Pharmaceuticals
LBRX
$1.23B
$1.56M 0.34%
70,000
– –
MIST icon
40
Milestone Pharmaceuticals
MIST
$139M
$1.35M 0.29%
666,666
– –
CLNN icon
41
Clene
CLNN
$66.3M
$1.17M 0.26%
+199,737
New +$1.66M
KALV
42
DELISTED
KalVista Pharmaceuticals
KALV
$329K 0.07%
20,400
– –
ZURA icon
43
Zura Bio
ZURA
$524M
$262K 0.06%
+50,000
New +$198K
NUVB.WS
44
DELISTED
Nuvation Bio Inc Warrants
NUVB.WS
$88K 0.02%
266,666
– –
SRZNW icon
45
Surrozen Inc Warrant
SRZNW
$1.33K ﹤0.01%
66,666
– –
DNLI icon
46
Denali Therapeutics
DNLI
$3.67B
– –
-250,000
Closed -$3.63M
MRUS
47
DELISTED
Merus
MRUS
– –
-120,000
Closed -$11.3M
NKTR icon
48
Nektar Therapeutics
NKTR
$2.38B
– –
-125,000
Closed -$7.11M
TIL icon
49
Instil Bio
TIL
$49M
– –
-60,700
Closed -$1.08M
1
2

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GWM
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TI
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CFS
Cannon Financial Strategists Athens, Georgia $761M AUM 18.73% 1-Year Est. Return
PMWMG
Parr McKnight Wealth Management Group Minneapolis, Minnesota $763M AUM 13.49% 1-Year Est. Return
OM
Opaleye Management Boston, Massachusetts $759M AUM 124.8% 1-Year Est. Return
SIG
Sargent Investment Group Bethesda, Maryland $759M AUM 28.58% 1-Year Est. Return
CCIP
Camrose Capital Investment Partners London, United Kingdom $764M AUM 0.9% 1-Year Est. Return
FA
Fiducient Advisors Chicago, Illinois $765M AUM 12.73% 1-Year Est. Return

Boxer Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Boxer Capital Management held 49 positions worth $457M, up 46% from $314M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Boxer Capital Management deployed $59.6M of net new capital in Q4 2025, opening 15 new positions and adding to 14 existing holdings. Its largest new stake was Palisade Bio: 4,799,875 shares worth $11.3M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Consumer Staples.

On the sell side, the largest reduction was uniQure, an estimated $19.7M trimmed.

  • Boxer Capital Management's largest Q4 2025 buy was Palisade Bio: 4,799,875 shares worth $11.3M.
  • Boxer Capital Management added most to Celcuity in Q4 2025, an estimated $11.1M increase.
  • Boxer Capital Management's biggest Q4 2025 reduction was uniQure, cutting an estimated $19.7M.
  • Boxer Capital Management fully exited Merus in Q4 2025, selling an estimated $11.3M.
  • Boxer Capital Management's ten largest holdings make up 62% of its $457M portfolio in Q4 2025.
  • Boxer Capital Management opened 15 new positions and closed 4 in Q4 2025.
  • Boxer Capital Management's portfolio value rose 46% quarter-over-quarter to $457M.

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