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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
Cap. Flow
-$463M
Cap. Flow %
-11.81%
Top 10 Hldgs %
70.89%
Holding
44
New
8
Increased
12
Reduced
7
Closed
14

Top Buys

Rank Stock Value
1
GMAB icon
Genmab
GMAB
+$100M
2
ACLX
Arcellx
ACLX
+$85.8M
3
ORKA
Oruka Therapeutics
ORKA
+$47.7M
4
LXEO icon
Lexeo Therapeutics
LXEO
+$43.5M
5
SRRK icon
Scholar Rock
SRRK
+$39.5M

Top Sells

Rank Stock Value
1
MRUS
Merus
MRUS
+$412M
2
AGIO icon
Agios Pharmaceuticals
AGIO
+$107M
3
JANX icon
Janux Therapeutics
JANX
+$71.4M
4
ALKS icon
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
NUVL
1
DELISTED
Nuvalent
NUVL
$530M 13.53%
5,269,433
– –
RVMD icon
2
Revolution Medicines
RVMD
$39.6B
$529M 13.51%
6,644,403
+421,112
+7% +$27.6M
ACLX
3
DELISTED
Arcellx
ACLX
$373M 9.53%
5,724,016
+1,075,000
+23% +$85.8M
GMAB icon
4
Genmab
GMAB
$17.6B
$217M 5.53%
7,039,834
+3,222,983
+84% +$100M
TARS icon
5
Tarsus Pharmaceuticals
TARS
$2.61B
$210M 5.35%
2,562,154
-103,544
-4% -$7.73M
ABVX
6
Abivax
ABVX
$11.9B
$191M 4.88%
1,417,473
-146,723
-9% -$16M
OLMA icon
7
Olema Pharmaceuticals
OLMA
$1B
$189M 4.81%
7,544,172
+750,000
+11% +$13.3M
PCVX icon
8
Vaxcyte
PCVX
$8.12B
$188M 4.79%
4,068,020
+283,265
+7% +$12.7M
XBI icon
9
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$183M 4.67%
1,500,000
+500,000
+50% +$57.3M
CDTX
10
DELISTED
Cidara Therapeutics
CDTX
$168M 4.28%
759,565
-201,599
-21% -$32.6M
EWTX icon
11
Edgewise Therapeutics
EWTX
$4.28B
$162M 4.14%
6,541,210
+371,079
+6% +$7.45M
SRRK icon
12
Scholar Rock
SRRK
$6.33B
$135M 3.44%
3,062,157
+1,052,412
+52% +$39.5M
URGN icon
13
UroGen Pharma
URGN
$1.96B
$105M 2.67%
4,473,648
+257,564
+6% +$5.59M
CRNX icon
14
Crinetics Pharmaceuticals
CRNX
$8.88B
$103M 2.63%
2,210,774
-340,000
-13% -$15.1M
APGE icon
15
Apogee Therapeutics
APGE
$10.1B
$84.8M 2.16%
1,123,243
-398,514
-26% -$25.1M
EYPT icon
16
EyePoint Inc
EYPT
$1.12B
$67.4M 1.72%
3,691,475
+1,686,110
+84% +$23.9M
ERAS icon
17
Erasca
ERAS
$6.65B
$52.7M 1.34%
14,159,095
+599,078
+4% +$1.68M
BBIO icon
18
BridgeBio Pharma
BBIO
$15.9B
$52.3M 1.34%
684,277
– –
ORKA
19
Oruka Therapeutics
ORKA
$5.59B
$51.8M 1.32%
+1,710,316
New +$47.7M
SYRE icon
20
Spyre Therapeutics
SYRE
$8.7B
$48.1M 1.23%
1,467,266
– –
LXEO icon
21
Lexeo Therapeutics
LXEO
$368M
$47.3M 1.21%
+4,763,198
New +$43.5M
VRDN icon
22
Viridian Therapeutics
VRDN
$1.99B
$44.9M 1.15%
1,443,102
-1,166,251
-45% -$32M
OCUL icon
23
Ocular Therapeutix
OCUL
$1.96B
$35.6M 0.91%
2,935,284
-562,023
-16% -$6.83M
TERN
24
DELISTED
Terns Pharmaceuticals
TERN
$32.7M 0.84%
+810,286
New +$18.7M
BBOT
25
BridgeBio Oncology
BBOT
$686M
$28.3M 0.72%
2,261,749
+395,608
+21% +$4.79M
1
2

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WTC
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MCM
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MSRPS
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MWM
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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.