Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
43
Top-10 weight
85.66%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
3
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
139.1
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | U.S. Treasury Bills | — | 65,000,000 | $64.45M | 92.93% |
| 2 | Plains GP Holdings LP LTD PARTNER INT CL A NEW IN | PAGP | 1,272,360 | $30.89M | 44.55% |
| 3 | ACHIEVE LIFE SCIENCES INC | — | 1,184,512 | $3.48M | 5.02% |
| 4 | PHATHOM PHARMACEUTICALS INC | — | 262,386 | $2.92M | 4.20% |
| 5 | DELCATH SYSTEMS | — | 261,126 | $2.42M | 3.49% |
| 6 | ABEONA THERAPEUTICS INC | — | 500,342 | $2.24M | 3.23% |
| 7 | CELLDEX THERAPEUTICS INC | — | 68,994 | $2.19M | 3.16% |
| 8 | MILESTONE PHARMACEUTICALS INC | MIST | 1,506,405 | $1.79M | 2.58% |
| 9 | OCULIS HOLDING AG | OCS | 66,667 | $1.77M | 2.56% |
| 10 | LEONABIO INC | — | 149,279 | $1.53M | 2.21% |
| 11 | CORCEPT THERAPEUTICS INC | — | 37,763 | $1.52M | 2.19% |
| 12 | KYVERNA THERAPEUTICS INC | — | 173,106 | $1.49M | 2.15% |
| 13 | INVENTIVA SA UNSPON ADR | IVA | 227,923 | $1.26M | 1.82% |
| 14 | VIRIDIAN THERAPEUTICS INC | — | 56,231 | $1.10M | 1.59% |
| 15 | AQUESTIVE THERAPEUTICS INC | — | 234,279 | $972.26K | 1.40% |
| 16 | VOR BIOPHARMA INC | — | 53,510 | $954.62K | 1.38% |
| 17 | ORCHESTRA BIOMED HOLDINGS INC | — | 219,387 | $932.39K | 1.34% |
| 18 | ZEVRA THERAPEUTICS INC | — | 96,246 | $897.01K | 1.29% |
| 19 | COMPASS Pathways PLC, ADR | CMPS | 159,052 | $879.56K | 1.27% |
| 20 | TELESAT CANADA/TELESAT L REGD 144A P/P 5.62500000 | TELSAT | 1,000,000 | $800.00K | 1.15% |
| 21 | TREVI THERAPEUTICS INC | — | 65,412 | $780.37K | 1.13% |
| 22 | OCULAR THERAPEUTIX INC | — | 90,000 | $762.30K | 1.10% |
| 23 | SAB BIOTHERAPEUTICS INC | — | 187,230 | $717.09K | 1.03% |
| 24 | UPSTREAM BIO INC | — | 77,793 | $700.14K | 1.01% |
| 25 | EYEPOINT PHARMACEUTICALS INC | — | 53,526 | $689.95K | 0.99% |
| 26 | 4D MOLECULAR THERAPEUTICS INC | — | 70,430 | $655.70K | 0.95% |
| 27 | PALISADE BIO INC | — | 350,000 | $612.50K | 0.88% |
| 28 | ZEALAND PHARMA A | — | 12,330 | $568.78K | 0.82% |
| 29 | KALARIS THERAPEUTICS INC | — | 87,426 | $504.45K | 0.73% |
| 30 | IMMUNIC INC | — | 438,932 | $487.21K | 0.70% |
| 31 | COHERUS ONCOLOGY INC | — | 253,140 | $427.81K | 0.62% |
| 32 | NOVO NORDISK CVR | AKRO | 145,609 | $426.63K | 0.62% |
| 33 | CORVUS PHARMACEUTICALS INC | — | 20,242 | $296.14K | 0.43% |
| 34 | OVID THERAPEUTICS INC | — | 130,813 | $290.40K | 0.42% |
| 35 | ARTIVA BIOTHERAPEUTICS INC | — | 23,230 | $149.60K | 0.22% |
| 36 | CONNECT BIOPHARMA HOLDINGS LTD | — | 53,375 | $139.84K | 0.20% |
| 37 | Contra Chinook Therape, CVR | KDNY | 25,000 | $2.50K | 0.00% |
| 38 | EIGER BIOPHARMACEUTICALS INC | — | 90,000 | $900 | 0.00% |
| 39 | MILESTONE PHARMACE WTS | — | 1,842,974 | $2 | 0.00% |
| 40 | MILESTONE PHARMACE WTS | — | 1,842,974 | $2 | 0.00% |
| 41 | Achieve Life Science Inc WT EXP 063030 | — | 966,667 | $1 | 0.00% |
| 42 | JASPER THERAPEUTIC WTS | — | 609,053 | $1 | 0.00% |
| 43 | WTS - TENAYA THERAPEUTICS | — | 560,000 | $1 | 0.00% |
| 44 | QUOIN PHARMACEUTIC WTS | — | 34,895 | $0 | 0.00% |
| 45 | QUOIN PHARMACEUTIC WTS | — | 34,895 | $0 | 0.00% |
| 46 | QUOIN PHARMACEUTIC WTS | — | 34,895 | $0 | 0.00% |
| 47 | QUOIN PHARMACEUTIC WTS | — | 34,895 | $0 | 0.00% |
| 48 | ZURICH INSURANCE GROUP AG TRS 0.0000% 05-15-2033 | NKY 1 C50921.94 | -63,152,370 | -$63.15M | -91.06% |
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