Hedge fund

Boxer Capital Management, LLC

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 2018299

Reported value: $1.3bn
Positions we cover: 59
Copy, a year: +80.6%
Copy Sharpe ratio: 1.42

How copying its 13F would have done

CopyS&P 500 $10,000 copying Boxer Capital Management, LLC's filed holdings in companies we cover from February 21, 2025, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −31.6% (S&P 500 −15.5%); beta 1.25; alpha +50.0% a year (t = 1.57); last 12 months +92.1% against +12.1%.

Reported value by quarter

Boxer Capital Management, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2024-12-31	$1.2B
2025-03-31	$332.5M
2025-06-30	$198.7M
2025-09-30	$313.7M
2025-12-31	$456.9M
2026-03-31	$761.7M
2026-06-30	$1.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
TNGXTango Therapeutics, Inc.	25.61%	$340.0m	10.88M	0.0%
RVMDRevolution Medicines, Inc.	7.05%	$93.6m	500.0K	0.0%
ABVXAbivax S.a.	6.07%	$80.6m	605.0K	+202.5% Added
QUREUniqure N.V.	5.21%	$69.2m	1.50M	+127.1% Added
KODKodiak Sciences Inc.	4.34%	$57.6m	1.48M	+8.6% Added
KYMRKymera Therapeutics, Inc.	3.71%	$49.2m	429.1K	+30.4% Added
DFTXDefinium Therapeutics, Inc.	3.54%	$47.0m	998.5K	+66.8% Added
REPLReplimune Group, Inc.	3.32%	$44.1m	3.98M	+239.0% Added
CELCCelcuity Inc.	3.28%	$43.6m	416.5K	+85.1% Added
QTTBQ32 Bio Inc.	3.02%	$40.1m	3.15M	New
CAPRCapricor Therapeutics, Inc.	2.53%	$33.6m	1.40M	+136.5% Added
PGENPrecigen, Inc.	2.21%	$29.4m	5.15M	+47.1% Added
CORTCorcept Therapeutics Inc	2.20%	$29.2m	335.5K	+34.2% Added
SRZNSurrozen, Inc.	2.03%	$27.0m	1.11M	+44.3% Added
PTGXProtagonist Therapeutics, Inc	1.57%	$20.8m	170.0K	0.0%
VIRVir Biotechnology, Inc.	1.43%	$19.0m	1.87M	0.0%
PCVXVaxcyte, Inc.	1.42%	$18.9m	325.0K	0.0%
URGNUrogen Pharma Ltd.	1.39%	$18.4m	500.0K	0.0%
CRVSCorvus Pharmaceuticals, Inc.	1.24%	$16.4m	1.10M	0.0%
PTCTPTC Therapeutics, Inc.	1.23%	$16.3m	200.0K	0.0%
PRAXPraxis Precision Medicines, Inc.	1.17%	$15.6m	46.5K	0.0%
AMLXAmylyx Pharmaceuticals, Inc.	1.08%	$14.4m	800.0K	0.0%
OCULOcular Therapeutix, Inc	0.96%	$12.8m	1.30M	+271.4% Added
IRDOpus Genetics, Inc.	0.87%	$11.6m	2.81M	+25.1% Added
PALIPalisade BIO, Inc.	0.76%	$10.0m	4.80M	0.0%
SYRESpyre Therapeutics, Inc.	0.67%	$8.9m	100.0K	New
COGTCogent Biosciences, Inc.	0.66%	$8.7m	225.0K	0.0%
CYTKCytokinetics Inc	0.64%	$8.5m	100.0K	0.0%
RLAYRelay Therapeutics, Inc.	0.63%	$8.4m	450.0K	New
CTNMContineum Therapeutics, Inc.	0.61%	$8.1m	494.0K	0.0%
KZIAKazia Therapeutics LTD	0.59%	$7.9m	560.0K	New
STTKShattuck Labs, Inc.	0.52%	$6.9m	1.00M	New
AVTXAvalo Therapeutics, Inc.	0.52%	$6.9m	375.0K	+25.0% Added
RLMDRelmada Therapeutics, Inc.	0.44%	$5.8m	842.1K	0.0%
MLTXMoonlake Immunotherapeutics	0.40%	$5.4m	275.0K	0.0%
ZURAZura Bio Ltd	0.40%	$5.3m	900.0K	0.0%
HELPHelus Pharma Inc.	0.39%	$5.2m	790.0K	+23.4% Added
ODTXOdyssey Therapeutics, Inc.	0.39%	$5.1m	275.0K	New
IMTXImmatics N.V.	0.36%	$4.8m	475.0K	New
FTHFaeth Therapeutics, Inc.	0.34%	$4.5m	180.5K	New
GPCRStructure Therapeutics Inc.	0.30%	$4.0m	75.0K	0.0%
ORICOric Pharmaceuticals, Inc.	0.28%	$3.8m	350.0K	+98.3% Added
ANTXAn2 Therapeutics, Inc.	0.27%	$3.6m	749.0K	0.0%
NMRANeumora Therapeutics, Inc.	0.26%	$3.4m	2.00M	New
INOInovio Pharmaceuticals, Inc.	0.24%	$3.1m	2.84M	+20.0% Added
ALLOAllogene Therapeutics, Inc.	0.23%	$3.1m	1.50M	−45.0% Reduced
SLDBSolid Biosciences Inc.	0.23%	$3.0m	300.0K	0.0%
KPTIKaryopharm Therapeutics Inc.	0.22%	$3.0m	302.5K	0.0%
CLNNClene Inc.	0.22%	$2.9m	477.5K	0.0%
SRPTSarepta Therapeutics, Inc.	0.20%	$2.7m	150.0K	0.0%
MPLTMaplight Therapeutics, Inc.	0.20%	$2.7m	75.0K	New
NRIXNurix Therapeutics, Inc.	0.18%	$2.4m	100.0K	0.0%
LBRXLB Pharmaceuticals Inc	0.17%	$2.3m	70.0K	0.0%
EDSAEdesa Biotech, Inc.	0.13%	$1.7m	205.0K	New
IVVDInvivyd, Inc.	0.10%	$1.3m	1.50M	0.0%
UPBUpstream Bio, Inc.	0.08%	$1.0m	150.0K	0.0%
MISTMilestone Pharmaceuticals Inc.	0.07%	$893,332	666.7K	0.0%
PEPGPepgen Inc.	0.04%	$491,206	272.9K	0.0%
RGNXRegenxbio Inc.	0.01%	$179,700	15.0K	0.0%

Company	Bought (value)	Shares
ABVXAbivax S.a.	$54.0m	405.0K
QTTBQ32 Bio Inc.	$40.1m	3.15M
QUREUniqure N.V.	$38.8m	841.3K
REPLReplimune Group, Inc.	$31.1m	2.81M
CELCCelcuity Inc.	$20.0m	191.5K
CAPRCapricor Therapeutics, Inc.	$19.4m	805.2K
DFTXDefinium Therapeutics, Inc.	$18.8m	400.0K
KYMRKymera Therapeutics, Inc.	$11.5m	100.0K
PGENPrecigen, Inc.	$9.4m	1.65M
OCULOcular Therapeutix, Inc	$9.3m	950.0K
SYRESpyre Therapeutics, Inc.	$8.9m	100.0K
RLAYRelay Therapeutics, Inc.	$8.4m	450.0K
SRZNSurrozen, Inc.	$8.3m	339.4K
KZIAKazia Therapeutics LTD	$7.9m	560.0K
CORTCorcept Therapeutics Inc	$7.4m	85.5K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
ALLOAllogene Therapeutics, Inc.	−$2.5m	−1.23M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

No positions in covered companies were sold out this quarter.

Health Care100.0%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestFebruary 21, 2025 to November 2, 2026	+80.6%	+16.0%	1.42	0.78	−31.6%	1.25
Last yearNovember 7, 2025 to November 2, 2026	+107.6%	+14.2%	1.67	0.84	−18.4%	1.29

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.