Hedge fund

Vestal Point Capital, LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1974915

Reported value: $4.3bn
Positions we cover: 66
Copy, a year: +20.2%
Copy Sharpe ratio: 0.61

How copying its 13F would have done

CopyS&P 500 $10,000 copying Vestal Point Capital, LP's filed holdings in companies we cover from February 16, 2024, 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 −28.2% (S&P 500 −16.9%); beta 1.01; alpha +5.2% a year (t = 0.32); last 12 months +13.8% against +12.1%.

Reported value by quarter

Vestal Point Capital, LP: 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
2023-12-31	$944M
2024-03-31	$1.2B
2024-06-30	$1.3B
2024-09-30	$1.3B
2024-12-31	$1.7B
2025-03-31	$1.4B
2025-06-30	$1.9B
2025-09-30	$2.2B
2025-12-31	$2.7B
2026-03-31	$3.6B
2026-06-30	$4.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
BMRNBiomarin Pharmaceutical Inc	8.06%	$344.8m	6.03M	+68.5% Added
NBIXNeurocrine Biosciences Inc	7.40%	$316.8m	1.88M	+50.4% Added
ABVXAbivax S.a.	7.32%	$313.1m	2.35M	+56.6% Added
UTHRUnited Therapeutics Corp	5.51%	$235.7m	435.0K	+480.0% Added
ELVNEnliven Therapeutics, Inc.	4.74%	$203.0m	4.00M	+23.1% Added
NRIXNurix Therapeutics, Inc.	4.56%	$195.3m	8.05M	+23.8% Added
BCAXBicara Therapeutics Inc.	3.64%	$155.9m	5.25M	−3.2% Reduced
TSHATaysha Gene Therapies, Inc.	3.09%	$132.2m	19.41M	+7.9% Added
ARWRArrowhead Pharmaceuticals, Inc.	3.00%	$128.4m	1.57M	−30.8% Reduced
ABTAbbott Laboratories	2.97%	$127.0m	1.40M	New
ZBHZimmer Biomet	2.82%	$120.5m	1.40M	+636.8% Added
IRONDisc Medicine, Inc.	2.65%	$113.4m	1.55M	+121.4% Added
GLUEMonte Rosa Therapeutics, Inc.	2.60%	$111.3m	4.60M	+27.7% Added
PODDInsulet Corporation	2.38%	$102.0m	670.0K	+1224.1% Added
ASNDAscendis Pharma A/s	2.34%	$100.0m	375.0K	New
AZNAstrazeneca PLC	1.99%	$85.3m	450.0K	+350.0% Added
RVMDRevolution Medicines, Inc.	1.97%	$84.3m	450.0K	−81.1% Reduced
BCRXBiocryst Pharmaceuticals Inc	1.94%	$83.0m	8.30M	+18.1% Added
DYNDyne Therapeutics, Inc.	1.75%	$75.0m	3.38M	−15.6% Reduced
NKTRNektar Therapeutics	1.63%	$69.8m	1.00M	+250.9% Added
GMEDGlobus Medical Inc	1.57%	$67.2m	850.0K	+39.2% Added
TARSTarsus Pharmaceuticals, Inc.	1.54%	$66.1m	1.05M	+425.0% Added
IMTXImmatics N.V.	1.46%	$62.6m	6.17M	0.0%
TRVITrevi Therapeutics, Inc.	1.35%	$57.8m	3.10M	+43.1% Added
IMCRImmunocore Holdings plc	1.33%	$57.1m	1.80M	−34.9% Reduced
RGENRepligen Corp	1.27%	$54.6m	400.0K	−56.8% Reduced
BMYBristol Myers Squibb	1.08%	$46.1m	800.0K	−20.0% Reduced
QUREUniqure N.V.	1.01%	$43.1m	935.0K	+160.4% Added
XENEXenon Pharmaceuticals Inc.	0.99%	$42.3m	700.0K	+9.4% Added
DRUGBright Minds Biosciences Inc.	0.89%	$38.3m	545.0K	+10.7% Added
MDGLMadrigal Pharmaceuticals, Inc.	0.82%	$34.9m	65.0K	+106.6% Added
ALCAlcon Inc	0.78%	$33.5m	500.0K	−37.5% Reduced
MYGNMyriad Genetics Inc	0.77%	$32.7m	5.74M	+248.0% Added
RAPPRapport Therapeutics, Inc.	0.71%	$30.4m	730.0K	−49.2% Reduced
CBIOCrescent Biopharma, Inc.	0.69%	$29.3m	1.63M	+8.7% Added
GEHCGE HealthCare	0.67%	$28.8m	450.0K	+80.0% Added
INSMInsmed Inc	0.62%	$26.7m	250.0K	New
VKTXViking Therapeutics, Inc.	0.62%	$26.5m	680.0K	−25.6% Reduced
BBNXBeta Bionics, Inc.	0.59%	$25.1m	1.60M	−27.7% Reduced
REGNRegeneron Pharmaceuticals	0.58%	$24.9m	40.0K	0.0%
SLDBSolid Biosciences Inc.	0.50%	$21.6m	2.16M	−56.8% Reduced
ANROAlto Neuroscience, Inc.	0.48%	$20.7m	785.0K	−62.0% Reduced
TRAXFirst Tracks Biotherapeutics, Inc.	0.48%	$20.4m	1.01M	New
LXEOLexeo Therapeutics, Inc.	0.47%	$20.1m	4.32M	−3.5% Reduced
SVRASavara Inc	0.39%	$16.8m	2.72M	+4.6% Added
SGPSpyglass Pharma, Inc.	0.35%	$14.9m	670.0K	+0.5%
TECXTectonic Therapeutic, Inc.	0.34%	$14.6m	425.0K	+29.6% Added
AVTXAvalo Therapeutics, Inc.	0.34%	$14.3m	775.0K	New
EVMNEvommune, Inc.	0.31%	$13.3m	1.00M	New
KLRAKailera Therapeutics, Inc.	0.30%	$12.7m	575.0K	New
AVRAnteris Technologies Global Corp.	0.23%	$9.9m	1.01M	−11.8% Reduced
ZBIOZenas Biopharma, Inc.	0.22%	$9.3m	365.0K	+82.5% Added
VYGRVoyager Therapeutics, Inc.	0.21%	$9.2m	2.63M	−12.6% Reduced
OKUROnkure Therapeutics, Inc.	0.20%	$8.3m	1.83M	−0.8% Reduced
SRZNSurrozen, Inc.	0.18%	$7.9m	304.7K	−10.0% Reduced
MNPRMonopar Therapeutics	0.16%	$7.0m	75.7K	+15.8% Added
ZURAZura Bio Ltd	0.16%	$6.9m	1.17M	+129.7% Added
OLMAOlema Pharmaceuticals, Inc.	0.12%	$5.2m	418.6K	−2.3% Reduced
PALIPalisade BIO, Inc.	0.12%	$5.2m	2.50M	0.0%
IBIOIbio, Inc.	0.11%	$4.5m	2.60M	New
SGMTSagimet Biosciences Inc.	0.10%	$4.1m	535.5K	New
ENGNEngene Therapeutics Inc.	0.07%	$2.9m	1.67M	New
RZLTRezolute, Inc.	0.05%	$2.0m	383.0K	New
NYXHNyxoah SA	0.03%	$1.4m	843.5K	−2.9% Reduced
TENXTenax Therapeutics, Inc.	0.02%	$777,537	53.4K	0.0%
APREAprea Therapeutics, Inc.	0.01%	$280,805	350.0K	0.0%

Company	Bought (value)	Shares
UTHRUnited Therapeutics Corp	$195.1m	360.0K
BMRNBiomarin Pharmaceutical Inc	$140.2m	2.45M
ABTAbbott Laboratories	$127.0m	1.40M
ABVXAbivax S.a.	$113.2m	849.4K
NBIXNeurocrine Biosciences Inc	$106.2m	630.0K
ZBHZimmer Biomet	$104.2m	1.21M
ASNDAscendis Pharma A/s	$100.0m	375.0K
PODDInsulet Corporation	$94.3m	619.4K
AZNAstrazeneca PLC	$66.4m	350.0K
IRONDisc Medicine, Inc.	$62.2m	850.0K
TARSTarsus Pharmaceuticals, Inc.	$53.5m	850.0K
NKTRNektar Therapeutics	$49.9m	715.0K
ELVNEnliven Therapeutics, Inc.	$38.1m	750.0K
NRIXNurix Therapeutics, Inc.	$37.6m	1.55M
INSMInsmed Inc	$26.7m	250.0K

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

Company	Sold (value)	Shares
RVMDRevolution Medicines, Inc.	−$360.5m	−1.93M
RGENRepligen Corp	−$71.6m	−525.0K
SRRKScholar Rock Holding Corp	−$65.1m	−1.32M
ARWRArrowhead Pharmaceuticals, Inc.	−$57.1m	−700.0K
VERAVera Therapeutics, Inc.	−$55.0m	−1.37M
BSXBoston Scientific	−$50.2m	−800.0K
COGTCogent Biosciences, Inc.	−$47.4m	−1.23M
CLDXCelldex Therapeutics, Inc.	−$38.8m	−1.22M
PTGXProtagonist Therapeutics, Inc	−$34.4m	−326.2K
DNLIDenali Therapeutics Inc.	−$34.0m	−1.77M
ANROAlto Neuroscience, Inc.	−$33.8m	−1.28M
IMCRImmunocore Holdings plc	−$30.7m	−966.9K
WATWaters Corporation	−$29.8m	−100.0K
RAPPRapport Therapeutics, Inc.	−$29.4m	−706.2K
SLDBSolid Biosciences Inc.	−$28.4m	−2.84M

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

Company	Value last quarter	Shares
SRRKScholar Rock Holding Corp	$65.1m	1.32M
VERAVera Therapeutics, Inc.	$55.0m	1.37M
BSXBoston Scientific	$50.2m	800.0K
COGTCogent Biosciences, Inc.	$47.4m	1.23M
CLDXCelldex Therapeutics, Inc.	$38.8m	1.22M
PTGXProtagonist Therapeutics, Inc	$34.4m	326.2K
DNLIDenali Therapeutics Inc.	$34.0m	1.77M
WATWaters Corporation	$29.8m	100.0K
INSPInspire Medical Systems, Inc.	$27.8m	539.3K
CYTKCytokinetics Inc	$19.8m	300.0K
WSTWest Pharmaceutical Services	$18.8m	75.0K
WGSGenedx Holdings Corp.	$16.1m	250.0K
AGIOAgios Pharmaceuticals, Inc.	$15.2m	450.0K
ARVNArvinas, Inc.	$9.6m	905.5K
MPLTMaplight Therapeutics, Inc.	$8.5m	420.0K
FULCFulcrum Therapeutics, Inc.	$8.4m	1.10M
CADLCandel Therapeutics, Inc.	$5.5m	1.13M
VCYTVeracyte, Inc.	$4.2m	130.7K
GERNGeron Corp	$3.8m	2.54M
NVCRNovocure Ltd	$2.7m	250.0K
URGNUrogen Pharma Ltd.	$2.5m	139.1K
TYRATyra Biosciences, Inc.	$2.1m	54.0K
RGNXRegenxbio Inc.	$909,440	108.5K
MGNXMacrogenics Inc	$809,200	280.0K
ABSIAbsci Corp	$696,657	232.2K

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 16, 2024 to November 2, 2026	+20.2%	+17.9%	0.61	0.91	−28.2%	1.01
Last yearNovember 7, 2025 to November 2, 2026	+29.1%	+14.2%	0.93	0.84	−20.4%	0.88

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.