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Biotech Hedge Fund 13F Changes

Q2 2026 · 19 funds · 1000 position changes

How 13F position tracking works
What is a 13F filing?

A 13F filing is a quarterly report required by the SEC from institutional investment managers with over $100M in assets. It discloses their equity holdings as of the end of each quarter. We track 20 specialist biotech hedge funds and compare their filings quarter-over-quarter to identify new positions, exits, increases, and decreases.

What do the position change types mean?

New means the fund initiated a position it didn't hold last quarter. Increased means they added shares to an existing position. Decreased means they trimmed shares. Exited means they sold their entire position. New positions and exits are the strongest signals — they represent active portfolio decisions, not incremental adjustments.

How often are 13F filings updated?

13F filings are due within 45 days of each quarter end (mid-February, mid-May, mid-August, mid-November). We parse new filings from EDGAR as they're published. The data shown reflects the most recent quarter's filings.

Why is there a 45-day delay in 13F data?

The SEC gives institutional managers 45 days after quarter-end to file their 13F. This means the data reflects positions as of the prior quarter-end, not today. Despite the lag, 13F data is valuable because it reveals the conviction-level decisions of biotech's most informed investors — the kind of positions that take months to build.

New Positions (157)

PBLS
COAG
KLRA
KARD
AAVXF
ORKA
COAG
PBLS
CDNS
AVLN
BAND
FLYW
NTLA
FROG
COAG
DFTX
UTHR
SANA
FHN-PH
ALT

+137 more

Exited (0)

None this quarter

Increased (451)

RVMD
UTHR
ASND
INSM
ARWR
CGON
RVMD
GH
RVMD
TNGX
CYTK
SYRE
SYRE
CELC
CELC
DFTX
CELC
ERAS
XOMAP
DFTX

+431 more

Decreased (331)

CELC
SMMT
KYMR
RVMD
IMVT
ELVN
EWTX
NAMSW
ASND
GH
LRCX
ROIV
NTRA
XENE
VERA
SRRK
KRYS
APGE
RLAY
PL-WT

+311 more

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