PB
Propel Bio Management, LLC 13F Disclosure (Q2 2026) — Portfolio & Holdings
Propel Bio Management, LLCCIK: 0001969764
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$191.1M
Reporting period: 2026-06-30 · Number of holdings: 29
Propel Bio Management, LLC disclosed 29 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $191.1M and a quarterly turnover rate of 53.0%.
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Personality snowflake
- Concentration
- 28.3
- Portfolio Stability
- 53.03
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 58
- Sizing Uniformity
- 89.56
Propel Bio Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.071 — mathematically equivalent to about 14 equally-sized positions, well below its 29 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.04), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 22% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd ACHV
+6.5% $15.0M
Sold out VOR
Add ARTV
+375.8% $5.8M
Trim PAGP
0.0% $699.8K
New buy IMUX
Sold out VRDN
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PAGP | Plains Gp Holdings Lp-cl A | Stock-Energy | 16.16% | -2.86% | — | |
| 2 | ACHV | Achieve Life Sciences Inc | Stock-Other | 13.79% | +6.62% | +6.54% | |
| 3 | CORT | Corcept Therapeutics Inc | Stock-Healthcare | 6.21% | +2.41% | -7.66% | |
| 4 | PHAT | Phathom Pharmaceuticals Inc | Stock-Other | 5.96% | +0.06% | +24.85% | |
| 5 | DCTH | Delcath Systems Inc | Stock-Other | 5.74% | -0.03% | -11.05% | |
| 6 | MIST | Milestone Pharmaceuticals In | Stock-Other | 5.21% | +2.01% | +80.40% | |
| 7 | CMPS | Compass Pathways PLC | Stock-Other | 4.24% | +1.64% | -22.77% | |
| 8 | KYTX | Kyverna Therapeutics Inc | Stock-Other | 4.12% | +0.60% | +37.05% | |
| 9 | ARTV | Artiva Biotherapeutics Inc | Stock-Other | 3.54% | +2.94% | +375.81% | |
| 10 | ABEO | Abeona Therapeutics Inc | Stock-Other | 3.18% | -0.61% | -26.08% | |
| 11 | AQST | Aquestive Therapeutics Inc | Stock-Other | 3.14% | +1.28% | +102.87% | |
| 12 | PALI | Palisade Bio Inc | Stock-Other | 2.82% | +1.56% | +131.60% | |
| 13 | IMUX | Immunic Inc | Stock-Other | 2.61% | +2.61% | NEW | |
| 14 | IVA | Inventiva SA - Adr | Stock-Other | 2.53% | +0.01% | +76.80% | |
| 15 | SABS | Sab Biotherapeutics Inc | Stock-Other | 2.20% | -0.25% | +6.30% | |
| 16 | OBIO | Orchestra Biomed Holdings In | Stock-Other | 2.02% | -0.39% | — | |
| 17 | CLDX | Celldex Therapeutics Inc | Stock-Other | 2.02% | -0.59% | -21.06% | |
| 18 | ZVRA | Zevra Therapeutics Inc | Stock-Other | 1.90% | +0.24% | -10.22% | |
| 19 | OCUL | Ocular Therapeutix Inc | Stock-Other | 1.84% | -0.19% | -6.38% | |
| 20 | FDMT | 4d Molecular Therapeutics In | Stock-Other | 1.76% | -0.50% | -33.59% | |
| 21 | OVID | Ovid Therapeutics Inc | Stock-Other | 1.57% | +0.29% | +21.06% | |
| 22 | EYPT | Eyepoint Inc | Stock-Other | 1.43% | -0.33% | -11.16% | |
| 23 | UPB | Upstream Bio Inc | Stock-Other | 1.27% | -0.68% | +2.52% | |
| 24 | ✓ | Stock-Other | 1.16% | +1.16% | NEW | ||
| 25 | SLN | Silence Therapeutics Plc-adr | Stock-Other | 1.10% | +1.10% | NEW | |
| 26 | LONA | Leonabio Inc | Stock-Other | 0.72% | -0.22% | — | |
| 27 | MAZE | Maze Therapeutics Inc | Stock-Other | 0.68% | -0.14% | — | |
| 28 | CRVS | Corvus Pharmaceuticals Inc | Stock-Other | 0.55% | -0.24% | -17.96% | |
| 29 | SGMT | Sagimet Biosciences Inc-a | Stock-Other | 0.51% | +0.51% | NEW |
Portfolio Performance
Performance for Q3 2026
+19.4%
Performance Last 4 Quarters
+39.2%
- Stdev
- +27%
- Beta
- +1.04
- Alpha
- -5.5%
- Max Drawdown
- -31.7%
- Annualized Perf
- +10.6%
- Batting Avg vs S&P
- +36.7%
- Sortino
- +0.91
- Stutzer
- +0.15
- Treynor
- +0.13
- Sterling
- +0.36
- Calmar
- +0.34
- Information Ratio
- -0.2
- Tracking Error
- +24%
- Stdev Down
- +15%
- Winning Months %
- +46.7%
- Losing Months %
- +53.3%
- Best 12 Months
- +50.8%
- Worst 12 Months
- -28.7%
- Efficiency Ratio
- +0.15
- Sharpe
- +0.5
- Stdev Sectors
- +22.2%
- Skewness
- +0.4
- Kurtosis
- -0.51
- Upside Potential
- +2.95
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Propel Bio Management, LLC's most significant position changes for 2026-06-30: Sold out: Vor Biopharma Inc (VOR); New buy: Immunic Inc (IMUX); Sold out: Viridian Therapeutics Inc (VRDN); Sold out: Oculis Holding AG (OCS); Sold out: Trevi Therapeutics Inc (TRVI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ACHV | Achieve Life Sciences Inc | +6.6% | +6.54% | Add |
| 2 | ARTV | Artiva Biotherapeutics Inc | +2.9% | +375.81% | Add |
| 3 | IMUX | Immunic Inc | +2.6% | NEW | New buy |
| 4 | CORT | Corcept Therapeutics Inc | +2.4% | -7.66% | Trim |
| 5 | MIST | Milestone Pharmaceuticals In | +2% | +80.40% | Add |
| 6 | CMPS | Compass Pathways PLC | +1.6% | -22.77% | Trim |
| 7 | PALI | Palisade Bio Inc | +1.6% | +131.60% | Add |
| 8 | AQST | Aquestive Therapeutics Inc | +1.3% | +102.87% | Add |
| 9 | ✓ | +1.2% | NEW | New buy | |
| 10 | SLN | Silence Therapeutics Plc-adr | +1.1% | NEW | New buy |
| 11 | KYTX | Kyverna Therapeutics Inc | +0.6% | +37.05% | Add |
| 12 | SGMT | Sagimet Biosciences Inc-a | +0.5% | NEW | New buy |
| 13 | OVID | Ovid Therapeutics Inc | +0.3% | +21.06% | Add |
| 14 | ZVRA | Zevra Therapeutics Inc | +0.2% | -10.22% | Trim |
| 15 | PHAT | Phathom Pharmaceuticals Inc | +0.1% | +24.85% | Add |
| 16 | IVA | Inventiva SA - Adr | 0% | +76.80% | Add |
| 17 | DCTH | Delcath Systems Inc | 0% | -11.05% | Trim |
| 18 | MSLE | Satellos Bioscience Inc | 0% | EXIT | Sold out |
| 19 | MAZE | Maze Therapeutics Inc | -0.1% | — | Unchanged |
| 20 | OCUL | Ocular Therapeutix Inc | -0.2% | -6.38% | Trim |
| 21 | LONA | Leonabio Inc | -0.2% | — | Unchanged |
| 22 | CRVS | Corvus Pharmaceuticals Inc | -0.2% | -17.96% | Trim |
| 23 | SABS | Sab Biotherapeutics Inc | -0.3% | +6.30% | Add |
| 24 | EYPT | Eyepoint Inc | -0.3% | -11.16% | Trim |
| 25 | ✓ | Connect Biopharma Hldgs LTD | -0.4% | EXIT | Sold out |
| 26 | OBIO | Orchestra Biomed Holdings In | -0.4% | — | Unchanged |
| 27 | FDMT | 4d Molecular Therapeutics In | -0.5% | -33.59% | Trim |
| 28 | CLDX | Celldex Therapeutics Inc | -0.6% | -21.06% | Trim |
| 29 | ABEO | Abeona Therapeutics Inc | -0.6% | -26.08% | Trim |
| 30 | UPB | Upstream Bio Inc | -0.7% | +2.52% | Add |
| 31 | ALDX | Aldeyra Therapeutics Inc | -0.8% | EXIT | Sold out |
| 32 | EVMN | Evommune Inc | -0.8% | EXIT | Sold out |
| 33 | NUVB | Nuvation Bio Inc | -0.9% | EXIT | Sold out |
| 34 | KLRS | Kalaris Therapeutics Inc | -1.1% | EXIT | Sold out |
| 35 | QURE | uniQure N.V. | -1.1% | EXIT | Sold out |
| 36 | CHRS | Coherus Oncology Inc | -1.5% | EXIT | Sold out |
| 37 | VTLUSD | Immunic Inc | -1.7% | EXIT | Sold out |
| 38 | TRVI | Trevi Therapeutics Inc | -1.7% | EXIT | Sold out |
| 39 | OCS | Oculis Holding AG | -2.1% | EXIT | Sold out |
| 40 | VRDN | Viridian Therapeutics Inc | -2.6% | EXIT | Sold out |
| 41 | PAGP | Plains Gp Holdings Lp-cl A | -2.9% | — | Unchanged |
| 42 | VOR | Vor Biopharma Inc | -3.5% | EXIT | Sold out |
Filing History
FAQ
What is Propel Bio Management, LLC and what type of investor is it?
Propel Bio Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $191.1M, spread across 29 disclosed positions.
What are Propel Bio Management, LLC's largest equity positions?
Based on the latest 13F filing, Propel Bio Management, LLC's top holdings by market value are:
1. Plains Gp Holdings Lp-cl A (PAGP) — $30.9M (16.2%)
2. Achieve Life Sciences Inc (ACHV) — $26.3M (13.8%)
3. Corcept Therapeutics Inc (CORT) — $11.9M (6.2%)
4. Phathom Pharmaceuticals Inc (PHAT) — $11.4M (6.0%)
5. Delcath Systems Inc (DCTH) — $11.0M (5.7%)
What changes did Propel Bio Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Propel Bio Management, LLC made 38 notable position adjustments: 4 new positions were initiated, 11 existing holdings were added to, 10 positions were partially reduced, and 13 were completely exited. The largest of these moves: Sold out: Vor Biopharma Inc (VOR); New buy: Immunic Inc (IMUX); Sold out: Viridian Therapeutics Inc (VRDN); Sold out: Oculis Holding AG (OCS); Sold out: Trevi Therapeutics Inc (TRVI)
What sectors does Propel Bio Management, LLC focus on?
Propel Bio Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 72.2%
• Health Care: 27.8%
Investment Profile
Propel Bio Management, LLC returned an annualized 10.6% over the trailing 30 months — underperforming the S&P 500 by 5.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 37% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 72.2% of the portfolio concentrated in Energy.
Its turnover score has risen from 0 to 53 over the past 4 quarters — a shift toward more active trading.
It has added to its DCTH position over the past two quarters (+$6.5M, now $11.0M), while trimming CLDX over the same stretch (-$332.3K, still holding $3.9M).
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Developer Access
Access Propel Bio Management, LLC's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/propel-bio-management-llcCLI
npx alphasmo institutions get propel-bio-management-llc