CIK: 0002111609
Total reported value
$105.6M
Reporting period: 2026-03-31 · Number of holdings: 37
Ishara Investments LP disclosed 37 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $105.6M and a quarterly turnover rate of 98.2%.
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Ishara Investments LP's disclosed holdings carry a Herfindahl concentration index of 0.047 — mathematically equivalent to about 21 equally-sized positions, well below its 37 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 0.84), 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 23% 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.
Trim ANNX
-76.8% -$2.8M
Trim PTCT
-71.5% -$2.0M
Trim BMRN
-18.0% -$1.3M
Trim ACAD
-23.1% -$1.5M
Add RARE
+248.5% $2.5M
Add VSTM
+203.7% $2.3M
Showing top 36 holdings (of 37 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines I | Stock-Other | 13.13% | -0.35% | +7.63% | |
| 2 | AXSM | Axsome Therapeutics INC | Stock-Healthcare | 6.56% | +6.56% | NEW | |
| 3 | XERS | Xeris Biopharma Holdings INC | Stock-Other | 5.63% | -1.55% | +28.13% | |
| 4 | 4XC1 | Kalvista Pharmaceuticals INC | Stock-Other | 5.27% | +5.27% | NEW | |
| 5 | AM6 | Amicus Therapeutics INC | Stock-Other | 5.05% | -0.81% | +2.50% | |
| 6 | BMRN | Biomarin Pharmaceutical INC | Stock-Healthcare | 4.39% | -2.41% | -18.00% | |
| 7 | VSTM | Verastem INC | Stock-Other | 4.11% | +1.73% | +203.70% | |
| 8 | RARE | Ultragenyx Pharmaceutical In | Stock-Other | 3.46% | +2.14% | +248.50% | |
| 9 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 3.29% | +3.29% | NEW | |
| 10 | PCVX | Vaxcyte INC | Stock-Other | 3.16% | +0.52% | +14.80% | |
| 11 | VERA | Vera Therapeutics INC | Stock-Other | 3.12% | +3.12% | NEW | |
| 12 | TVTX | Travere Therapeutics INC | Stock-Other | 3.11% | +3.11% | NEW | |
| 13 | MLTX | Moonlake Immunotherapeutics | Stock-Other | 3.08% | +3.08% | NEW | |
| 14 | ZNTL | Zentalis Pharmaceuticals INC | Stock-Other | 2.72% | +0.68% | -6.82% | |
| 15 | SRRK | Scholar Rock Holding CORP | Stock-Other | 2.67% | +2.67% | NEW | |
| 16 | ACAD | Acadia Pharmaceuticals INC | Stock-Healthcare | 2.59% | -2.30% | -23.13% | |
| 17 | ARDX | Ardelyx INC | Stock-Other | 2.56% | +2.56% | NEW | |
| 18 | MLYS | Mineralys Therapeutics INC | Stock-Other | 2.10% | +2.10% | NEW | |
| 19 | GMAB | Genmab A/s -sp Adr | Stock-Other | 2.08% | — | +17.14% | |
| 20 | DBVT | Dbv Technologies Sa-spon Adr | Stock-Other | 2.03% | +2.03% | NEW | |
| 21 | CPRX | Catalyst Pharmaceuticals INC | Stock-Healthcare | 1.92% | +1.92% | NEW | |
| 22 | SION | Sionna Therapeutics INC | Stock-Other | 1.87% | +1.87% | NEW | |
| 23 | CTNM | Contineum Therapeutics Inc-a | Stock-Other | 1.76% | +1.76% | NEW | |
| 24 | ALNY | Alnylam Pharmaceuticals INC | Stock-Healthcare | 1.61% | +1.61% | NEW | |
| 25 | LGND | Ligand Pharmaceuticals | Stock-Healthcare | 1.55% | +1.55% | NEW | |
| 26 | EWTX | Edgewise Therapeutics INC | Stock-Other | 1.47% | — | -15.17% | |
| 27 | ✓ | Immatics NV | Stock-Other | 1.43% | +0.47% | +92.19% | |
| 28 | LXRX | Lexicon Pharmaceuticals INC | Stock-Other | 1.33% | +0.17% | +2.50% | |
| 29 | BEAM | Beam Therapeutics INC | Stock-Other | 1.29% | — | +14.80% | |
| 30 | ORIC | Oric Pharmaceuticals INC | Stock-Other | 1.23% | — | -35.94% | |
| 31 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.12% | — | +23.00% | |
| 32 | ANNX | Annexon INC | Stock-Other | 0.91% | -3.40% | -76.77% | |
| 33 | IDYA | Ideaya Biosciences INC | Stock-Other | 0.78% | +0.78% | NEW | |
| 34 | SLN | Silence Therapeutics Plc-adr | Stock-Other | 0.70% | -0.97% | -41.46% | |
| 35 | PTCT | Ptc Therapeutics INC | Stock-Healthcare | 0.66% | -2.47% | -71.53% | |
| 36 | GOSS | Gossamer Bio INC | Stock-Other | 0.26% | +0.26% | NEW |
Performance for Q3 2026
+10.7%
Performance Last 4 Quarters
+12%
Based on 5 months of available history
Based on 79% of reported portfolio value with available pricing
Ishara Investments LP's most significant position changes for 2026-03-31: New buy: Axsome Therapeutics INC (AXSM); New buy: Kalvista Pharmaceuticals INC (4XC1); Sold out: Nuvation Bio INC (NUVB); New buy: Arrowhead Pharmaceuticals In (ARWR); New buy: Vera Therapeutics INC (VERA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | RARE | Ultragenyx Pharmaceutical In | +2.1% | +248.50% | Add |
| 2 | VSTM | Verastem INC | +1.7% | +203.70% | Add |
| 3 | ZNTL | Zentalis Pharmaceuticals INC | +0.7% | -6.82% | Trim |
| 4 | PCVX | Vaxcyte INC | +0.5% | +14.80% | Add |
| 5 | ✓ | Immatics NV | +0.5% | +92.19% | Add |
| 6 | LXRX | Lexicon Pharmaceuticals INC | +0.2% | +2.50% | Add |
| 7 | PRAX | Praxis Precision Medicines I | -0.4% | +7.63% | Add |
| 8 | AM6 | Amicus Therapeutics INC | -0.8% | +2.50% | Add |
| 9 | SLN | Silence Therapeutics Plc-adr | -1% | -41.46% | Trim |
| 10 | XERS | Xeris Biopharma Holdings INC | -1.6% | +28.13% | Add |
| 11 | ACAD | Acadia Pharmaceuticals INC | -2.3% | -23.13% | Trim |
| 12 | BMRN | Biomarin Pharmaceutical INC | -2.4% | -18.00% | Trim |
| 13 | PTCT | Ptc Therapeutics INC | -2.5% | -71.53% | Trim |
| 14 | ANNX | Annexon INC | -3.4% | -76.77% | Trim |
| 15 | AXSM | Axsome Therapeutics INC | — | NEW | New buy |
| 16 | 4XC1 | Kalvista Pharmaceuticals INC | — | NEW | New buy |
| 17 | NUVB | Nuvation Bio INC | — | EXIT | Sold out |
| 18 | ARWR | Arrowhead Pharmaceuticals In | — | NEW | New buy |
| 19 | VERA | Vera Therapeutics INC | — | NEW | New buy |
| 20 | TVTX | Travere Therapeutics INC | — | NEW | New buy |
| 21 | MLTX | Moonlake Immunotherapeutics | — | NEW | New buy |
| 22 | SRRK | Scholar Rock Holding CORP | — | NEW | New buy |
| 23 | BBIO | Bridgebio Pharma INC | — | EXIT | Sold out |
| 24 | ARDX | Ardelyx INC | — | NEW | New buy |
| 25 | UTHR | United Therapeutics CORP | — | EXIT | Sold out |
| 26 | BCRX | Biocryst Pharmaceuticals INC | — | EXIT | Sold out |
| 27 | MLYS | Mineralys Therapeutics INC | — | NEW | New buy |
| 28 | DBVT | Dbv Technologies Sa-spon Adr | — | NEW | New buy |
| 29 | SNDX | Syndax Pharmaceuticals INC | — | EXIT | Sold out |
| 30 | CPRX | Catalyst Pharmaceuticals INC | — | NEW | New buy |
| 31 | SION | Sionna Therapeutics INC | — | NEW | New buy |
| 32 | TARS | Tarsus Pharmaceuticals INC | — | EXIT | Sold out |
| 33 | APOG | Apogee Enterprises INC | — | EXIT | Sold out |
| 34 | CTNM | Contineum Therapeutics Inc-a | — | NEW | New buy |
| 35 | INSM | Insmed INC | — | EXIT | Sold out |
| 36 | ALNY | Alnylam Pharmaceuticals INC | — | NEW | New buy |
| 37 | LGND | Ligand Pharmaceuticals | — | NEW | New buy |
| 38 | CORT | Corcept Therapeutics INC | — | EXIT | Sold out |
| 39 | APLSUSD | Apellis Pharmaceuticals INC | — | EXIT | Sold out |
| 40 | DNLI | Denali Therapeutics INC | — | EXIT | Sold out |
| 41 | ASND | Ascendis Pharma A/S | — | EXIT | Sold out |
| 42 | BHVN | Biohaven Ltd. | — | EXIT | Sold out |
| 43 | DNTH | Dianthus Therapeutics INC | — | EXIT | Sold out |
| 44 | NKTR | Nektar Therapeutics | — | EXIT | Sold out |
| 45 | IDYA | Ideaya Biosciences INC | — | NEW | New buy |
| 46 | AGIO | Agios Pharmaceuticals INC | — | EXIT | Sold out |
| 47 | IMVT | Immunovant INC | — | EXIT | Sold out |
| 48 | OLMA | Olema Pharmaceuticals INC | — | EXIT | Sold out |
| 49 | ARQT | Arcutis Biotherapeutics INC | — | EXIT | Sold out |
| 50 | GOSS | Gossamer Bio INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
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