Paradigm Biocapital Advisors LP

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$4.9B

Reporting period: 2026-03-31 · Number of holdings: 35

Paradigm Biocapital Advisors LP disclosed 35 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $4.9B and a quarterly turnover rate of 65.9%.

Personality snowflake

Concentration: 26.83
Portfolio Stability: 65.87
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 70
Sizing Uniformity: 88.22

Recent moves

Add ACLXGBX
+0.9%　$289.8M
Trim ABVX
-45.5%　-$105.1M
Trim NUVL
+1.0%　$15.4M
Trim OLMA
+6.3%　-$69.0M
Trim SRRK
-60.0%　-$74.6M
Add ERAS
-26.6%　$115.5M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	ACLXGBX	Arcellx INC	Stock-Other	13.55%	+4.02%	+0.87%
2	RVMD	Revolution Medicines INC	Stock-Healthcare	13.23%	-0.29%	+0.17%
3	NUVL	Nuvalent Inc-a	Stock-Other	11.15%	-2.38%	+1.04%
4	PCVX	Vaxcyte INC	Stock-Other	5.69%	+0.90%	+17.82%
5	EWTX	Edgewise Therapeutics INC	Stock-Other	4.74%	+0.60%	+12.59%
6	GMAB	Genmab A/s -sp Adr	Stock-Other	4.37%	-1.16%	+13.18%
7	INSM	Insmed INC	Stock-Healthcare	4.19%	+4.19%	NEW
8	TARS	Tarsus Pharmaceuticals INC	Stock-Other	3.67%	-1.68%	—
9	BLTE	Belite Bio INC - Adr	Stock-Other	3.63%	+3.63%	NEW
10	ERAS	Erasca INC	Stock-Other	3.44%	+2.10%	-26.60%
11	260	Centessa Pharmaceuticals-adr	Stock-Other	2.90%	+2.90%	NEW
12	OLMA	Olema Pharmaceuticals INC	Stock-Other	2.44%	-2.37%	+6.31%
13	430	Terns Pharmaceuticals INC	Stock-Other	2.39%	+1.55%	+173.55%
14	ORKA	Oruka Therapeutics INC	Stock-Other	2.33%	+1.01%	+35.67%
15	APGE	Apogee Therapeutics INC	Stock-Other	2.32%	+0.16%	+20.03%
16	SYRE	Spyre Therapeutics INC	Stock-Other	2.02%	+0.79%	+33.40%
17	CYTK	Cytokinetics INC	Stock-Healthcare	1.99%	+1.99%	NEW
18	ABVX	Abivax Sa-adr	Stock-Other	1.76%	-3.12%	-45.50%
19	TNGX	Tango Therapeutics INC	Stock-Other	1.71%	+1.71%	NEW
20	MAZE	Maze Therapeutics INC	Stock-Other	1.67%	+1.67%	NEW
21	TYRA	Tyra Biosciences INC	Stock-Other	1.61%	+1.61%	NEW
22	VRDN	Viridian Therapeutics INC	Stock-Other	1.26%	+0.11%	+118.20%
23	SRRK	Scholar Rock Holding CORP	Stock-Other	1.23%	-2.21%	-59.96%
24	MIRM	Mirum Pharmaceuticals INC	Stock-Other	1.18%	+1.18%	NEW
25	EYPT	Eyepoint INC	Stock-Other	0.83%	-0.89%	-14.87%
26	LXEO	Lexeo Therapeutics INC	Stock-Other	0.73%	-0.48%	+29.83%
27	MANE	Veradermics INC	Stock-Other	0.68%	+0.68%	NEW
28	VOR	Vor Biopharma INC	Stock-Other	0.64%	+0.06%	—
29	URGN	UroGen Pharma Ltd.	Stock-Other	0.63%	-2.04%	-61.91%
30	GPCR	Structure Therapeutics INC	Stock-Other	0.54%	+0.54%	NEW
31	IVA	Inventiva SA - Adr	Stock-Other	0.45%	-0.02%	—
32	ORIC	Oric Pharmaceuticals INC	Stock-Other	0.44%	-0.06%	-29.15%
33	ASMB	Assembly Biosciences INC	Stock-Other	0.38%	-0.20%	—
34	BBOT	Bridgebio Oncology Therapeut	Stock-Other	0.16%	-0.56%	-61.61%
35	KLRS	Kalaris Therapeutics INC	Stock-Other	0.08%	-0.07%	—

Portfolio Performance

Performance for Q3 2026

+21%

Performance Last 4 Quarters

+33.4%

Based on 72% of reported portfolio value with available pricing

Stdev: +25.3%
Beta: +0.54
Alpha: -0.6%
Max Drawdown: -22.5%
Annualized Perf: +6.8%
Batting Avg vs S&P: +50%
Sortino: +0.58
Stutzer: +0.11
Treynor: +0.18
Sterling: +0.54
Calmar: +0.3
Information Ratio: -0.38
Tracking Error: +25.1%
Stdev Down: +16.6%
Winning Months %: +50%
Losing Months %: +50%
Best 12 Months: +55%
Worst 12 Months: -16.1%
Efficiency Ratio: +0.1
Sharpe: +0.38
Stdev Sectors: 0%
Skewness: -0.26
Kurtosis: -0.08
Upside Potential: +2.33

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	35	$4.9B	66	1ACLXGBX 2RVMD 3NUVL Top holdings2026-03-31 1.ACLXGBX 2.RVMD 3.NUVL 4.PCVX 5.EWTX 6.GMAB 7.INSM 8.TARS 9.BLTE 10.ERAS
2025-12-31	30	$3.9B	62	1NUVL 2RVMD 3ACLXGBX Top holdings2025-12-31 1.NUVL 2.RVMD 3.ACLXGBX 4.GMAB 5.TARS 6.ABVX 7.OLMA 8.PCVX 9.XBI 10.CDTX
2025-09-30	36	$3.5B	78	1NUVL2N5749R3ACLXGBX Top holdings2025-09-30 1.NUVL 2.N5749R 3.ACLXGBX 4.RVMD 5.TARS 6.PCVX 7.ABVX 8.GMAB 9.AGIO 10.CRNX
2025-06-30	28	$2.3B	0	1NUVL 2ACLXGBX3N5749R Top holdings2025-06-30 1.NUVL 2.ACLXGBX 3.N5749R 4.RVMD 5.TARS 6.PCVX 7.ONC 8.EWTX 9.COGT 10.JANX
2025-03-31	28	$2.2B	0	1NUVL 2ACLXGBX 3RVMD Top holdings2025-03-31 1.NUVL 2.ACLXGBX 3.RVMD 4.ONC 5.N5749R 6.TARS 7.EWTX 8.JANX 9.CRNX 10.PCVX
2024-12-31	28	$2.9B	0	1NUVL 2ACLXGBX 3ARGX Top holdings2024-12-31 1.NUVL 2.ACLXGBX 3.ARGX 4.RVMD 5.JANX 6.TARS 7.EWTX 8.PCVX 9.ONC 10.CRNX
2024-09-30	33	$3.0B	0	1NUVL 2ACLXGBX 3ARGX Top holdings2024-09-30 1.NUVL 2.ACLXGBX 3.ARGX 4.RVMD 5.CRNX 6.N5749R 7.JANX 8.PCVX 9.KURA 10.TARS
2024-06-30	35	$2.6B	0	1NUVL 2ARGX 3ACLXGBX Top holdings2024-06-30 1.NUVL 2.ARGX 3.ACLXGBX 4.RVMD 5.SRPT 6.IRON 7.N5749R 8.CRNX 9.CERE1EUR 10.KURA
2024-03-31	34	$2.8B	0	1NUVL 2ACLXGBX 3ARGX Top holdings2024-03-31 1.NUVL 2.ACLXGBX 3.ARGX 4.IRON 5.CRNX 6.SRPT 7.IMCR 8.LEGN 9.ARVN 10.XENE
2023-12-31	30	$2.1B	0	1NUVL 2ACLXGBX 3ARGX Top holdings2023-12-31 1.NUVL 2.ACLXGBX 3.ARGX 4.IRON 5.LEGN 6.OLMA 7.VRDN 8.IMCR 9.CERE1EUR 10.XENE
2023-09-30	31	$1.5B	0	1LEGN 2ARGX 3ACLXGBX Top holdings2023-09-30 1.LEGN 2.ARGX 3.ACLXGBX 4.OLMA 5.NUVL 6.BCYC 7.MRTXEUR 8.IMCR 9.UTHR 10.CRNX
2023-06-30	30	$1.3B	0	1LEGN 2ARGX 3INCY Top holdings2023-06-30 1.LEGN 2.ARGX 3.INCY 4.IMCR 5.ACLXGBX 6.48576A 7.CERE1EUR 8.VRDN 9.UTHR 10.MRTXEUR
2023-03-31	25	$1.1B	0	1BIIB 2INCY 3LEGN Top holdings2023-03-31 1.BIIB 2.INCY 3.LEGN 4.ARGX 5.SGENUSD 6.IMCR 7.ACLXGBX 8.VRDN 9.MRTXEUR 10.SNDX
2022-12-31	23	$851.9M	0	1INCY 2BIIB 3MRTXEUR Top holdings2022-12-31 1.INCY 2.BIIB 3.MRTXEUR 4.G46188 5.LEGN 6.VRDN 7.SNDX 8.IMCR 9.ASND 10.VOR
2022-09-30	28	$750.1M	0	1BIIB 2GBTUSD 3MRTXEUR Top holdings2022-09-30 1.BIIB 2.GBTUSD 3.MRTXEUR 4.INCY 5.ASND 6.LEGN 7.IMCR 8.VRDN 9.ARGX 10.UTHR
2022-06-30	23	$501.5M	0	1LEGN 2GBTUSD 3MRTXEUR Top holdings2022-06-30 1.LEGN 2.GBTUSD 3.MRTXEUR 4.82640U 5.INCY 6.ASND 7.UTHR 8.ARGX 9.IMCR 10.ARVN
2022-03-31	25	$378.2M	0	1ASND 2GBTUSD 3ARVN Top holdings2022-03-31 1.ASND 2.GBTUSD 3.ARVN 4.LEGN 5.82640U 6.VRDN 7.INCY 8.OPHTEUR 9.IOVA 10.IMCR
2021-12-31	24	$350.2M	0	1MRTXEUR 2ASND 3ZNTL Top holdings2021-12-31 1.MRTXEUR 2.ASND 3.ZNTL 4.VRDN 5.ARNAEUR 6.GBTUSD 7.ARVN 8.LEGN 9.IOVA 10.SGENUSD

Holding changes this quarter

Paradigm Biocapital Advisors LP's most significant position changes for 2026-03-31: New buy: Insmed INC (INSM); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Belite Bio INC - Adr (BLTE); Sold out: Cidara Therapeutics INC (CDTX); New buy: Centessa Pharmaceuticals-adr (260).

Position changes disclosed by Paradigm Biocapital Advisors LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ACLXGBX	Arcellx INC	+4%	+0.87%	Add
2	ERAS	Erasca INC	+2.1%	-26.60%	Trim
3	430	Terns Pharmaceuticals INC	+1.6%	+173.55%	Add
4	ORKA	Oruka Therapeutics INC	+1%	+35.67%	Add
5	PCVX	Vaxcyte INC	+0.9%	+17.82%	Add
6	SYRE	Spyre Therapeutics INC	+0.8%	+33.40%	Add
7	EWTX	Edgewise Therapeutics INC	+0.6%	+12.59%	Add
8	APGE	Apogee Therapeutics INC	+0.2%	+20.03%	Add
9	VRDN	Viridian Therapeutics INC	+0.1%	+118.20%	Add
10	VOR	Vor Biopharma INC	+0.1%	—	Unchanged
11	IVA	Inventiva SA - Adr	0%	—	Unchanged
12	ORIC	Oric Pharmaceuticals INC	-0.1%	-29.15%	Trim
13	KLRS	Kalaris Therapeutics INC	-0.1%	—	Unchanged
14	ASMB	Assembly Biosciences INC	-0.2%	—	Unchanged
15	RVMD	Revolution Medicines INC	-0.3%	+0.17%	Add
16	LXEO	Lexeo Therapeutics INC	-0.5%	+29.83%	Add
17	BBOT	Bridgebio Oncology Therapeut	-0.6%	-61.61%	Trim
18	EYPT	Eyepoint INC	-0.9%	-14.87%	Trim
19	GMAB	Genmab A/s -sp Adr	-1.2%	+13.18%	Add
20	TARS	Tarsus Pharmaceuticals INC	-1.7%	—	Unchanged
21	URGN	UroGen Pharma Ltd.	-2%	-61.91%	Trim
22	SRRK	Scholar Rock Holding CORP	-2.2%	-59.96%	Trim
23	OLMA	Olema Pharmaceuticals INC	-2.4%	+6.31%	Add
24	NUVL	Nuvalent Inc-a	-2.4%	+1.04%	Add
25	ABVX	Abivax Sa-adr	-3.1%	-45.50%	Trim
26	INSM	Insmed INC	—	NEW	New buy
27	XBI	Ss Spdr S&p Biotech ETF	—	EXIT	Sold out
28	BLTE	Belite Bio INC - Adr	—	NEW	New buy
29	CDTX	Cidara Therapeutics INC	—	EXIT	Sold out
30	260	Centessa Pharmaceuticals-adr	—	NEW	New buy
31	CRNX	Crinetics Pharmaceuticals In	—	EXIT	Sold out
32	CYTK	Cytokinetics INC	—	NEW	New buy
33	TNGX	Tango Therapeutics INC	—	NEW	New buy
34	MAZE	Maze Therapeutics INC	—	NEW	New buy
35	TYRA	Tyra Biosciences INC	—	NEW	New buy
36	MIRM	Mirum Pharmaceuticals INC	—	NEW	New buy
37	BBIO	Bridgebio Pharma INC	—	EXIT	Sold out
38	OCUL	Ocular Therapeutix INC	—	EXIT	Sold out
39	MANE	Veradermics INC	—	NEW	New buy
40	GPCR	Structure Therapeutics INC	—	NEW	New buy

FAQ

What is Paradigm Biocapital Advisors LP and what type of investor is it?

Paradigm Biocapital Advisors LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $4.9B, spread across 35 disclosed positions.

What are Paradigm Biocapital Advisors LP's largest equity positions?

Based on the latest 13F filing, Paradigm Biocapital Advisors LP's top holdings by market value are: 1. Arcellx INC (ACLXGBX) — $663.0M (13.6%) 2. Revolution Medicines INC (RVMD) — $647.3M (13.2%) 3. Nuvalent Inc-a (NUVL) — $545.5M (11.2%) 4. Vaxcyte INC (PCVX) — $278.5M (5.7%) 5. Edgewise Therapeutics INC (EWTX) — $232.0M (4.7%)

What changes did Paradigm Biocapital Advisors LP make in its most recent portfolio filing?

In the latest reported quarter, Paradigm Biocapital Advisors LP made 35 notable position adjustments: 10 new positions were initiated, 13 existing holdings were added to, 7 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: Insmed INC (INSM); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Belite Bio INC - Adr (BLTE); Sold out: Cidara Therapeutics INC (CDTX); New buy: Centessa Pharmaceuticals-adr (260)

What sectors does Paradigm Biocapital Advisors LP focus on?

Paradigm Biocapital Advisors LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 100.0%