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PBA
Paradigm Biocapital Advisors Portfolio holdings
AUM
$4.89B
1-Year Est. Return
251.12%
This Fund
S&P 500
This Quarter
Est. Return
+45.21%
1 Year Est. Return
+251.12%
3 Year Est. Return
+670.11%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$3.92B
AUM Growth
+$402M
(+11%)
Cap. Flow
-$463M
Cap. Flow
% of AUM
-11.81%
Top 10 Holdings %
Top 10 Hldgs %
70.89%
Holding
44
New
8
Increased
12
Reduced
7
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Genmab
GMAB
|
+$100M |
| 2 |
ACLX
Arcellx
ACLX
|
+$85.8M |
| 3 |
ORKA
Oruka Therapeutics
ORKA
|
+$47.7M |
| 4 |
Lexeo Therapeutics
LXEO
|
+$43.5M |
| 5 |
Scholar Rock
SRRK
|
+$39.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MRUS
Merus
MRUS
|
+$412M |
| 2 |
Agios Pharmaceuticals
AGIO
|
+$107M |
| 3 |
Janux Therapeutics
JANX
|
+$71.4M |
| 4 |
Alkermes
ALKS
|
+$51.6M |
| 5 |
LENZ
LENZ Therapeutics
LENZ
|
+$50M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Vor Biopharma
VOR
$1.21B
| $22.9M | 0.58% |
+1,750,000
| New | +$32.6M |
|
27
Assembly Biosciences
ASMB
$524M
| $22.6M | 0.58% |
+665,251
| New | +$21.4M |
|
28
Oric Pharmaceuticals
ORIC
$1.39B
| $19.6M | 0.5% |
+2,401,217
| New | +$27.6M |
|
|
IVA
29
Inventiva
IVA
$1.07B
| $18.6M | 0.47% |
+4,000,000
| New | +$18.6M |
|
|
KLRS
30
Kalaris Therapeutics
KLRS
$103M
| $5.91M | 0.15% |
+700,000
| New | +$4.48M |
|
|
31
CALL
Agios Pharmaceuticals
AGIO
$1.89B
| – | – |
-200,000
| Closed | -$8.03M |
|
|
32
Agios Pharmaceuticals
AGIO
$1.89B
| – | – |
-2,673,555
| Closed | -$107M |
|
|
33
Alkermes
ALKS
$8.33B
| – | – |
-1,719,334
| Closed | -$51.6M |
|
34
Amylyx Pharmaceuticals
AMLX
$2.43B
| – | – |
-1,900,000
| Closed | -$25.8M |
|
35
Cogent Biosciences
COGT
$7.32B
| – | – |
-3,156,398
| Closed | -$45.3M |
|
36
Dyne Therapeutics
DYN
$4.85B
| – | – |
-1,898,950
| Closed | -$24M |
|
37
Structure Therapeutics
GPCR
$3.53B
| – | – |
-372,869
| Closed | -$10.4M |
|
38
Disc Medicine
IRON
$2.99B
| – | – |
-247,716
| Closed | -$16.4M |
|
|
39
Janux Therapeutics
JANX
$973M
| – | – |
-2,920,258
| Closed | -$71.4M |
|
|
MRUS
40
CALL
DELISTED
Merus
MRUS
| – | – |
-300,000
| Closed | -$28.2M |
|
|
MRUS
41
DELISTED
Merus
MRUS
| – | – |
-4,373,770
| Closed | -$412M |
|
42
Pharvaris
PHVS
$2.37B
| – | – |
-1,835,494
| Closed | -$45.8M |
|
43
Tango Therapeutics
TNGX
$4.78B
| – | – |
-3,086,184
| Closed | -$25.9M |
|
|
LENZ
44
LENZ Therapeutics
LENZ
$158M
| – | – |
-1,073,461
| Closed | -$50M |
|
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Paradigm Biocapital Advisors's Q4 2025 Portfolio in Review
As of Q4 2025, Paradigm Biocapital Advisors held 44 positions worth $3.92B, up 11% from $3.52B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Paradigm Biocapital Advisors withdrew a net $463M in Q4 2025, closing 14 positions and reducing 7 holdings. Its most notable exit was Merus, an estimated $412M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, down from 96% a quarter earlier.
Against the trend, Paradigm Biocapital Advisors opened a new position in Oruka Therapeutics worth $51.8M.
- Paradigm Biocapital Advisors's largest Q4 2025 buy was Oruka Therapeutics: 1,710,316 shares worth $51.8M.
- Paradigm Biocapital Advisors added most to Genmab in Q4 2025, an estimated $100M increase.
- Paradigm Biocapital Advisors's biggest Q4 2025 reduction was Cidara Therapeutics, cutting an estimated $32.6M.
- Paradigm Biocapital Advisors fully exited Merus in Q4 2025, selling an estimated $412M.
- Paradigm Biocapital Advisors's ten largest holdings make up 71% of its $3.92B portfolio in Q4 2025.
- Paradigm Biocapital Advisors opened 8 new positions and closed 14 in Q4 2025.
- Paradigm Biocapital Advisors's portfolio value rose 11% quarter-over-quarter to $3.92B.
Based on Paradigm Biocapital Advisors's 13F filing for Q4 2025, filed 17 Feb 2026.