BRAIDWELL LP's Q1 2025 13F: 10 new positions, 17 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 15, 2025 · 52 reported positions · accession 0001420506-25-001293
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | GUARDANT HEALTH INC (GH) | 3.9% | 2.9% | −0.9 pts | −1.52M sh | −53% |
| New | DANAHER CORPORATION (DHR) | — | 3.3% | +3.3 pts | +309K sh | new |
| Increased | ARGENX SE (ARGX) | 2.2% | 5.0% | +2.7 pts | +80,083 sh | +99% |
| Increased | NUVALENT INC (NUVL) | 0.8% | 3.1% | +2.3 pts | +600K sh | +249% |
| New | BLUEPRINT MEDICINES CORP (BPMC) | — | 2.0% | +2.0 pts | +440K sh | new |
| Exited | AVADEL PHARMACEUTICALS PLC (AVDL) | 1.9% | — | −1.9 pts | −4.11M sh | −100% |
| Increased | KRYSTAL BIOTECH INC (KRYS) | 1.4% | 3.8% | +2.4 pts | +200K sh | +100% |
| New | ADAPTIVE BIOTECHNOLOGIES COR (ADPT) | — | 1.9% | +1.9 pts | +4.8M sh | new |
| Exited | PARAGON 28 INC (FNA) | 1.8% | — | −1.8 pts | −3.83M sh | −100% |
| Reduced | KINIKSA PHARMACEUTICALS INTL (KNSA) | 3.1% | 2.3% | −0.8 pts | −1.49M sh | −43% |
| Increased | GLAUKOS CORP (GKOS) | 1.9% | 3.2% | +1.3 pts | +336K sh | +116% |
| Increased | NEUROCRINE BIOSCIENCES INC (NBIX) | 5.5% | 6.9% | +1.4 pts | +290K sh | +32% |
| Increased | DYNE THERAPEUTICS INC (DYN) | 0.7% | 2.0% | +1.3 pts | +2.94M sh | +432% |
| Exited | BIONTECH SE (BNTX) | 1.6% | — | −1.6 pts | −310K sh | −100% |
| Reduced | REPLIGEN CORP (RGEN) | 1.8% | 0.5% | −1.3 pts | −202K sh | −71% |
| Exited | KEROS THERAPEUTICS INC (KROS) | 1.3% | — | −1.3 pts | −1.89M sh | −100% |
| Increased | ALIGN TECHNOLOGY INC (ALGN) | 3.5% | 4.4% | +0.9 pts | +155K sh | +41% |
| Exited | IMMATICS N.V (IMTX) | 1.1% | — | −1.1 pts | −3.5M sh | −100% |
| Exited | GERON CORP (GERN) | 1.1% | — | −1.1 pts | −7.01M sh | −100% |
| Reduced | PENUMBRA INC (PEN) | 2.0% | 1.5% | −0.4 pts | −73,700 sh | −40% |
| Increased | THERMO FISHER SCIENTIFIC INC (TMO) | 2.1% | 3.3% | +1.2 pts | +37,979 sh | +42% |
| Exited | BRUKER CORP (BRKR) | 0.9% | — | −0.9 pts | −353K sh | −100% |
| Exited | EXACT SCIENCES CORP (EXAS) | 0.9% | — | −0.9 pts | −353K sh | −100% |
| New | ASCENDIS PHARMA A/S (ASND) | — | 0.9% | +0.9 pts | +107K sh | new |
| New | MADRIGAL PHARMACEUTICALS INC (MDGL) | — | 0.8% | +0.8 pts | +48,690 sh | new |
| Exited | VAXCYTE INC (PCVX) | 0.8% | — | −0.8 pts | −222K sh | −100% |
| Reduced | IRHYTHM TECHNOLOGIES INC (IRTC) | 2.8% | 3.0% | +0.2 pts | −149K sh | −21% |
| Reduced | DIANTHUS THERAPEUTICS INC (DNTH) | 1.2% | 0.4% | −0.8 pts | −831K sh | −69% |
| Exited | JASPER THERAPEUTICS INC (JSPR) | 0.7% | — | −0.7 pts | −715K sh | −100% |
| Exited | CANDEL THERAPEUTICS INC (CADL) | 0.6% | — | −0.6 pts | −1.6M sh | −100% |
| Increased | XENCOR INC (XNCR) | 0.6% | 0.9% | +0.3 pts | +1.04M sh | +169% |
| Reduced | DAY ONE BIOPHARMACEUTICALS I (DAWN) | 2.8% | 1.5% | −1.3 pts | −1.34M sh | −27% |
| Exited | ARCUS BIOSCIENCES INC (RCUS) | 0.5% | — | −0.5 pts | −802K sh | −100% |
| Reduced | APELLIS PHARMACEUTICALS INC (APLS) | 3.0% | 1.9% | −1.1 pts | −447K sh | −21% |
| Reduced | SAREPTA THERAPEUTICS INC (SRPT) | 2.0% | 0.8% | −1.2 pts | −130K sh | −36% |
| New | CASTLE BIOSCIENCES INC (CSTL) | — | 0.4% | +0.4 pts | +365K sh | new |
| Reduced | XENON PHARMACEUTICALS INC (XENE) | 5.1% | 4.7% | −0.4 pts | −204K sh | −7% |
| Increased | INTUITIVE SURGICAL INC (ISRG) | 1.8% | 2.3% | +0.5 pts | +12,700 sh | +17% |
| Exited | 4D MOLECULAR THERAPEUTICS IN (FDMT) | 0.3% | — | −0.3 pts | −1.23M sh | −100% |
| Exited | NEVRO CORP (NVRO) | 0.3% | — | −0.3 pts | −1.7M sh | −100% |
| New | METSERA INC (MTSR) | — | 0.2% | +0.2 pts | +175K sh | new |
| Exited | CERIBELL INC (CBLL) | 0.2% | — | −0.2 pts | −210K sh | −100% |
| Reduced | TRANSMEDICS GROUP INC (TMDX) | 2.6% | 3.0% | +0.4 pts | −67,216 sh | −7% |
| Increased | ORUKA THERAPEUTICS INC (ORKA) | 1.2% | 0.8% | −0.4 pts | +425K sh | +37% |
| New | AARDVARK THERAPEUTICS INC (AARD) | — | 0.2% | +0.2 pts | +500K sh | new |
| Increased | EDGEWISE THERAPEUTICS INC (EWTX) | 2.8% | 2.8% | 0.0 pts | +127K sh | +5% |
| Increased | BICARA THERAPEUTICS INC (BCAX) | 1.6% | 1.5% | −0.1 pts | +162K sh | +8% |
| Increased | IRONWOOD PHARMACEUTICALS INC (IRWD) | 1.1% | 0.5% | −0.6 pts | +1.18M sh | +22% |
| New | BETA BIONICS INC (BBNX) | — | 0.1% | +0.1 pts | +140K sh | new |
| Reduced | CULLINAN THERAPEUTICS INC (CGEM) | 0.6% | 0.4% | −0.3 pts | −195K sh | −17% |
The 50 largest of 58 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 44.0% of the equity book
Changes in the top 10 this quarter: ARGX entered · KRYS entered · TMO entered · DHR entered · GKOS entered · GH left · APGE left · KNSA left · APLS left · IRTC left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | NEUROCRINE BIOSCIENCES INC (NBIX) | 5.5% | 6.9% | |
| 2 | LEGEND BIOTECH CORP (LEGN) | 4.3% | 5.3% | |
| 3 | ARGENX SE (ARGX) | 2.2% | 5.0% | Entered the top 10 |
| 4 | XENON PHARMACEUTICALS INC (XENE) | 5.1% | 4.7% | |
| 5 | ALIGN TECHNOLOGY INC (ALGN) | 3.5% | 4.4% | |
| 6 | CG ONCOLOGY INC (CGON) | 4.2% | 4.2% | |
| 7 | KRYSTAL BIOTECH INC (KRYS) | 1.4% | 3.8% | Entered the top 10 |
| 8 | THERMO FISHER SCIENTIFIC INC (TMO) | 2.1% | 3.3% | Entered the top 10 |
| 9 | DANAHER CORPORATION (DHR) | 0.0% | 3.3% | Entered the top 10 |
| 10 | GLAUKOS CORP (GKOS) | 1.9% | 3.2% | Entered the top 10 |
| — | GUARDANT HEALTH INC (GH) | 3.9% | 2.9% | Left the top 10 |
| — | APOGEE THERAPEUTICS INC (APGE) | 3.1% | 3.0% | Left the top 10 |
| — | KINIKSA PHARMACEUTICALS INTL (KNSA) | 3.1% | 2.3% | Left the top 10 |
| — | APELLIS PHARMACEUTICALS INC (APLS) | 3.0% | 1.9% | Left the top 10 |
| — | IRHYTHM TECHNOLOGIES INC (IRTC) | 2.8% | 3.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).