Q4 2025 · 13F-HR
Affinity Asset Advisors, LLCholdings as filed
Filed 2026-02-13 · accession 0001315863-26-000153
$1.76B
Reported value
95
Positions
2025-12-31
Period end
The Brief · Affinity Asset Advisors, LLC · Q4 2025
AI · grounded in 13F
Affinity Asset Advisors, LLC initiated a new position in XBI valued at $182.9M. The fund also established new holdings in IBB for $67.5M and PRAX for $54.5M. On the sell side, the manager closed its positions in VRNA and SPY, reducing exposure by $66.7M and $56.3M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78464A870 | XBI | SPDR SERIES TRUST | $182.9M | 10.4% | 1,500,000 | PUT | SOLE |
| 03770N101 | APGE | APOGEE THERAPEUTICS INC | $93.2M | 5.31% | 1,234,926 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $78.3M | 4.46% | 450,000 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $68.1M | 3.88% | 505,000 | Common | SOLE |
| 464287556 | IBB | ISHARES TR | $67.5M | 3.85% | 400,000 | CALL | SOLE |
| 92332V107 | VTYXUSD | VENTYX BIOSCIENCES INC | $58.6M | 3.34% | 6,484,558 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $56.0M | 3.19% | 1,250,000 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $54.5M | 3.11% | 185,000 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $50.8M | 2.90% | 800,000 | Common | SOLE |
| 00773J202 | SYRE | SPYRE THERAPEUTICS INC | $46.9M | 2.67% | 1,432,591 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $45.9M | 2.62% | 2,700,000 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $44.2M | 2.52% | 135,000 | CALL | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $43.7M | 2.49% | 1,400,000 | Common | SOLE |
| 81369Y209 | XLV | SELECT SECTOR SPDR TR | $38.7M | 2.21% | 250,000 | CALL | SOLE |
| G76279101 | ROIV | ROIVANT SCIENCES LTD | $36.9M | 2.10% | 1,700,000 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $34.1M | 1.95% | 523,725 | Common | SOLE |
| 670703107 | NUVL | NUVALENT INC | $32.5M | 1.85% | 322,633 | Common | SOLE |
| 52886X107 | LXEO | LEXEO THERAPEUTICS INC | $31.8M | 1.81% | 3,200,000 | Common | SOLE |
| G01767105 | ALKS | ALKERMES PLC | $28.0M | 1.59% | 1,000,000 | Common | SOLE |
| 34962G208 | FBRX | FORTE BIOSCIENCES INC | $27.0M | 1.54% | 989,490 | Common | SOLE |
| 89532M101 | TRVI | TREVI THERAPEUTICS INC | $26.9M | 1.53% | 2,150,172 | Common | SOLE |
| 603170101 | MLYS | MINERALYS THERAPEUTICS INC | $26.5M | 1.51% | 730,000 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $24.5M | 1.39% | 320,000 | Common | SOLE |
| 687604108 | ORKA | ORUKA THERAPEUTICS INC | $24.3M | 1.39% | 802,342 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $22.2M | 1.27% | 550,000 | Common | SOLE |
| 032724106 | ANAB | ANAPTYSBIO INC | $21.6M | 1.23% | 444,692 | Common | SOLE |
| 230031106 | CGEM | CULLINAN THERAPEUTICS INC | $20.0M | 1.14% | 1,932,106 | Common | SOLE |
| 682143AK8 | OMER 9.5 06/15/29 | OMEROS CORP | $19.4M | 1.10% | 6,525,000 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $19.1M | 1.09% | 800,000 | CALL | SOLE |
| 05338F306 | AVTX | AVALO THERAPEUTICS INC | $19.1M | 1.09% | 1,051,054 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $18.4M | 1.05% | 967,620 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $18.1M | 1.03% | 3,300,000 | Common | SOLE |
| 558868105 | MDGL | MADRIGAL PHARMACEUTICALS INC | $18.1M | 1.03% | 31,131 | Common | SOLE |
| 805111101 | SVRA | SAVARA INC | $16.9M | 0.96% | 2,797,153 | Common | SOLE |
| 74366E102 | PTGX | PROTAGONIST THERAPEUTICS INC | $15.0M | 0.86% | 172,125 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $15.0M | 0.86% | 600,552 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HLDGS INC | $14.6M | 0.83% | 200,000 | Common | SOLE |
| 29479A108 | ERAS | ERASCA INC | $14.5M | 0.83% | 3,900,000 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $12.7M | 0.72% | 250,000 | Common | SOLE |
| 19240Q201 | COGT | COGENT BIOSCIENCES INC | $12.4M | 0.71% | 350,000 | Common | SOLE |
| 690469101 | OVID | OVID THERAPEUTICS INC | $11.7M | 0.66% | 7,150,000 | Common | SOLE |
| 89422G107 | TVTX | TRAVERE THERAPEUTICS INC | $11.5M | 0.65% | 300,000 | Common | SOLE |
| 008064206 | JBIO | JADE BIOSCIENCES INC | $11.0M | 0.63% | 714,956 | Common | SOLE |
| 89422GAA5 | TVTX 2.25 03/01/29 | TRAVERE THERAPEUTICS INC | $10.0M | 0.57% | 7,000,000 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $9.6M | 0.55% | 275,000 | Common | SOLE |
| 15117B202 | CLDX | CELLDEX THERAPEUTICS INC NEW | $9.5M | 0.54% | 350,000 | Common | SOLE |
| G9TY5A101 | ZURA | ZURA BIO LTD | $9.5M | 0.54% | 1,813,671 | Common | SOLE |
| 87583X109 | TNGX | TANGO THERAPEUTICS INC | $8.9M | 0.50% | 1,000,000 | Common | SOLE |
| 869367201 | STRO | SUTRO BIOPHARMA INC | $8.7M | 0.49% | 748,382 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $8.0M | 0.45% | 100,000 | Common | SOLE |
| 55287L101 | MBX | MBX BIOSCIENCES INC | $7.9M | 0.45% | 250,000 | Common | SOLE |
| 92790C104 | VRDN | VIRIDIAN THERAPEUTICS INC | $7.8M | 0.44% | 250,000 | Common | SOLE |
| 03969F109 | RCUS | ARCUS BIOSCIENCES INC | $7.1M | 0.41% | 300,000 | Common | SOLE |
| 786700104 | SGMT | SAGIMET BIOSCIENCES INC | $6.8M | 0.39% | 1,148,245 | Common | SOLE |
| 48576U205 | KPTI | KARYOPHARM THERAPEUTICS INC | $6.5M | 0.37% | 889,575 | Common | SOLE |
| 15102KAA8 | CELC 2.75 08/01/31 | CELCUITY INC | $6.5M | 0.37% | 3,000,000 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA A/S | $6.4M | 0.36% | 30,000 | Common | SOLE |
| 86627T108 | SMMT | SUMMIT THERAPEUTICS INC | $6.1M | 0.35% | 350,000 | PUT | SOLE |
| 92511W207 | VRCA | VERRICA PHARMACEUTICALS INC | $5.9M | 0.33% | 707,338 | Common | SOLE |
| 29286M105 | — | ENGENE HOLDINGS INC | $5.8M | 0.33% | 643,370 | Common | SOLE |
| N62509117 | NAMSW | NEWAMSTERDAM PHARMA COMPANY | $5.6M | 0.32% | 245,000 | Common | SOLE |
| 76200L309 | RZLT | REZOLUTE INC | $5.5M | 0.32% | 2,351,144 | Common | SOLE |
| G29687103 | AVDL | AVADEL PHARMACEUTICALS PLC | $5.4M | 0.31% | 250,000 | Common | SOLE |
| 28658R106 | CLYM | CLIMB BIO INC | $5.2M | 0.30% | 1,300,000 | Common | SOLE |
| 45258J102 | IMVT | IMMUNOVANT INC | $5.1M | 0.29% | 200,000 | Common | SOLE |
| N71542109 | PRQR | PROQR THRAPEUTICS N V | $5.0M | 0.28% | 2,454,278 | Common | SOLE |
| 252828108 | DNTH | DIANTHUS THERAPEUTICS INC | $4.7M | 0.27% | 115,000 | Common | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $4.6M | 0.26% | 70,000 | Common | SOLE |
| 451033708 | IBIO | IBIO INC | $4.0M | 0.23% | 2,057,200 | Common | SOLE |
| 65343E207 | NXTC | NEXTCURE INC | $3.5M | 0.20% | 247,294 | Common | SOLE |
| 22663K107 | CRNX | CRINETICS PHARMACEUTICALS IN | $3.5M | 0.20% | 75,000 | Common | SOLE |
| 031162100 | AMGN | AMGEN INC | $3.3M | 0.19% | 10,000 | Common | SOLE |
| 07782B104 | BLTE | BELITE BIO INC | $3.2M | 0.18% | 20,000 | Common | SOLE |
| 04272N102 | AVBP | ARRIVENT BIOPHARMA INC | $3.0M | 0.17% | 150,000 | Common | SOLE |
| 59045L205 | MRSN | MERSANA THERAPEUTICS INC | $2.9M | 0.16% | 100,000 | Common | SOLE |
| G6717R120 | OACCU | OAKTREE ACQUISITION CORP III | $2.7M | 0.15% | 250,000 | Common | SOLE |
| 03879J100 | ABUS | ARBUTUS BIOPHARMA CORP | $2.5M | 0.14% | 521,900 | CALL | SOLE |
| 03675P102 | AVR | ANTERIS TECHNOLOGIES GLOBAL | $2.4M | 0.14% | 486,684 | Common | SOLE |
| 68572M106 | OBIO | ORCHESTRA BIOMED HLDGS INC | $2.4M | 0.14% | 572,804 | Common | SOLE |
| 29842P105 | EPRX | EUPRAXIA PHARMACEUTICALS INC | $2.3M | 0.13% | 300,000 | Common | SOLE |
| 374163103 | GERN | GERON CORP | $2.0M | 0.11% | 1,500,000 | Common | SOLE |
| 90400D108 | RARE | ULTRAGENYX PHARMACEUTICAL IN | $1.7M | 0.10% | 75,000 | Common | SOLE |
| 52635N103 | LENZ | LENZ THERAPEUTICS INC | $1.6M | 0.09% | 100,000 | PUT | SOLE |
| 49372L209 | 2KZ0 | KEZAR LIFE SCIENCES INC | $1.4M | 0.08% | 229,076 | Common | SOLE |
| 20451W101 | CMPS | COMPASS PATHWAYS PLC | $1.4M | 0.08% | 200,000 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $1.2M | 0.07% | 50,000 | Common | SOLE |
| 19240QAA0 | COGT 1.625 11/15/31 | COGENT BIOSCIENCES INC | $1.2M | 0.07% | 1,000,000 | Common | SOLE |
| 46489V302 | CATX | PERSPECTIVE THERAPEUTICS INC | $825,000 | 0.05% | 300,000 | Common | SOLE |
| 556099109 | MGNX | MACROGENICS INC | $779,736 | 0.04% | 484,308 | Common | SOLE |
| G70077105 | PCSC | PERCEPTIVE CAP SOLUTIONS COR | $651,500 | 0.04% | 50,000 | Common | SOLE |
| 34962G208 | FBRX | FORTE BIOSCIENCES INC | $610,848 | 0.03% | 22,400 | CALL | SOLE |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $580,000 | 0.03% | 145,000 | Common | SOLE |
| 746964105 | QTTB | Q32 BIO INC | $92,220 | 0.01% | 27,777 | Common | SOLE |
| 00534B100 | ADGM | ADAGIO MED HLDGS INC | $83,200 | 0.00% | 80,000 | Common | SOLE |
| 77313F114 | RCKTW | ROCKET PHARMACEUTICALS INC | $1,823 | 0.00% | 75,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.