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Sio Capital Management Portfolio holdings

AUM $697M
1-Year Est. Return 79.73%
This Fund
S&P 500
This Quarter Est. Return
+18.21%
1 Year Est. Return
+79.73%
3 Year Est. Return
+576.62%
5 Year Est. Return
+422.76%
10 Year Est. Return
+2,506.65%
AUM
$636M
AUM Growth
+$241M
Cap. Flow
+$174M
Cap. Flow %
27.38%
Top 10 Hldgs %
53.71%
Holding
77
New
26
Increased
8
Reduced
17
Closed
9

Top Buys

Rank Stock Value
1
CI icon
Cigna
CI
+$48.3M
2
ZBH icon
Zimmer Biomet
ZBH
+$36.6M
3
OGN icon
Organon & Co
OGN
+$27M
4
ICLR icon
Icon
ICLR
+$22.7M
5
WAY
Waystar Holding Corp
WAY
+$21.9M

Top Sells

Rank Stock Value
1
CELC icon
Celcuity
CELC
+$25.4M
2
IRON icon
Disc Medicine
IRON
+$19.2M
3
ALKS icon
Alkermes
ALKS
+$17.4M
4
MRK icon
Merck
MRK
+$14.9M
5
HSIC icon
Henry Schein
HSIC
+$14.5M

Sector Composition

Rank Sector Weight
1 Healthcare 84.1%
2 Industrials 6.79%
3 Consumer Staples 3.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OTLK icon
51
PUT
Outlook Therapeutics
OTLK
$193M
$1.78M 0.28%
+1,125,400
New +$1.8M
BBOT
52
BridgeBio Oncology
BBOT
$718M
$1.64M 0.26%
130,628
– –
IBIO icon
53
iBio
IBIO
$69.5M
$1.43M 0.22%
+740,000
New +$1.01M
XLO icon
54
Xilio Therapeutics
XLO
$59.9M
$1.37M 0.22%
+152,467
New +$1.6M
ADGM
55
Adagio Medical Holdings
ADGM
$16.4M
$1.34M 0.21%
+1,288,461
New +$1.53M
AVTX icon
56
Avalo Therapeutics
AVTX
$997M
$1.31M 0.21%
72,173
– –
NMTC icon
57
NeuroOne Medical Technologies
NMTC
$14.4M
$864K 0.14%
190,007
-203,432
-52% -$927K
TELA icon
58
TELA Bio
TELA
$41M
$751K 0.12%
636,300
– –
FHTX icon
59
Foghorn Therapeutics
FHTX
$287M
$664K 0.1%
122,889
– –
SENS icon
60
Senseonics Holdings Inc
SENS
$270M
$639K 0.1%
115,784
-3
-0% -$21
ENTA icon
61
Enanta Pharmaceuticals
ENTA
$384M
$631K 0.1%
+40,000
New +$508K
TERN
62
DELISTED
Terns Pharmaceuticals
TERN
$408K 0.06%
10,100
– –
MODD icon
63
Modular Medical
MODD
$10.9M
$286K 0.05%
26,194
– –
NYXH
64
Nyxoah
NYXH
$141M
$234K 0.04%
50,839
– –
BOLD
65
Boundless Bio
BOLD
$62.9M
$196K 0.03%
163,679
– –
NXTC icon
66
NextCure
NXTC
$21.4M
$155K 0.02%
10,940
– –
RCKTW icon
67
Rocket Pharmaceuticals Warrant
RCKTW
$288K
$7.2K ﹤0.01%
400,000
– –
HUMAW icon
68
Humacyte Inc Warrant
HUMAW
$1.09M
$4.88K ﹤0.01%
49,998
– –
APRE icon
69
Aprea Therapeutics
APRE
$7.69M
– –
-112,223
Closed -$166K
ERAS icon
70
Erasca
ERAS
$6.46B
– –
-1,369,748
Closed -$2.99M
GSK icon
71
GSK
GSK
$103B
– –
-268,873
Closed -$11.6M
HSIC icon
72
Henry Schein
HSIC
$10.2B
– –
-219,207
Closed -$14.5M
KALV
73
DELISTED
KalVista Pharmaceuticals
KALV
– –
-683,819
Closed -$8.33M
MRK icon
74
Merck
MRK
$317B
– –
-177,300
Closed -$14.9M
NVCR icon
75
NovoCure
NVCR
$1.87B
– –
-413,829
Closed -$5.35M
1 2
3
4

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WIC
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AAM
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Sio Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Sio Capital Management held 77 positions worth $636M, up 61% from $395M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Sio Capital Management deployed $174M of net new capital in Q4 2025, opening 26 new positions and adding to 8 existing holdings. Its largest new stake was Cigna: 172,203 shares worth $47.4M.

By sector, the portfolio is most concentrated in Healthcare at 84% of assets, up from 84% a quarter earlier, followed by Industrials and Consumer Staples.

On the sell side, the largest reduction was Celcuity, an estimated $25.4M trimmed.

  • Sio Capital Management's largest Q4 2025 buy was Cigna: 172,203 shares worth $47.4M.
  • Sio Capital Management added most to Sanofi in Q4 2025, an estimated $20.3M increase.
  • Sio Capital Management's biggest Q4 2025 reduction was Celcuity, cutting an estimated $25.4M.
  • Sio Capital Management fully exited Merck in Q4 2025, selling an estimated $14.9M.
  • Sio Capital Management's ten largest holdings make up 54% of its $636M portfolio in Q4 2025.
  • Sio Capital Management opened 26 new positions and closed 9 in Q4 2025.
  • Sio Capital Management's portfolio value rose 61% quarter-over-quarter to $636M.

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