ARMISTICE CAPITAL, LLC
Long book
$3.03B
Q1 2026
Positions
251
Top-10 weight
32%
concentration
Last quarter
+24.6%
SPY +14.8%
Turnover
68%
of book per quarter
Strategy in plain words
auto-generated from filingsARMISTICE CAPITAL, LLC is a quantitative fund whose holdings reflect models, not opinions, specialised in healthcare (67% of the long book), running a $3.03B US long book across 251 positions.
The portfolio is moderately concentrated (top 10 ≈ 32% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: TRAVERE THERAPEUTICS INC, PTC THERAPEUTICS INC, MADRIGAL PHARMACEUTICALS INC, SUPERNUS PHARMACEUTICALS INC, NEUROCRINE BIOSCIENCES INC.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.5%
Q2 2024
+6.8%
Q3 2024
-0.5%
Q4 2024
-8.3%
Q1 2025
-0.4%
Q2 2025
+21.9%
Q3 2025
+11.9%
Q4 2025
-8.2%
Q1 2026
+24.6%
Sector allocation
Healthcare 66%
Technology 15%
Other 5%
Consumer discretionary 4%
Services media 3%
Financials 2%
Consumer staples 2%
Industrials 2%
Long book by quarter
What does ARMISTICE CAPITAL, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TVTX TRAVERE THERAPEUTICS INC | Healthcare | 4.9M | $145.5M | 4.8% | +30.1% |
| PTCT PTC THERAPEUTICS INC | Healthcare | 2.1M | $141.3M | 4.7% | -26.0% |
| MDGL MADRIGAL PHARMACEUTICALS INC | Healthcare | 264.6K | $138.5M | 4.6% | -0.4% |
| SUPN SUPERNUS PHARMACEUTICALS INC | Healthcare | 1.9M | $98.0M | 3.2% | -31.4% |
| NBIX NEUROCRINE BIOSCIENCES INC | Healthcare | 724.0K | $95.4M | 3.1% | -11.7% |
| AGIO AGIOS PHARMACEUTICALS INC | Healthcare | 2.7M | $91.9M | 3.0% | -10.5% |
| IMVT IMMUNOVANT INC | Healthcare | 3.6M | $88.6M | 2.9% | -38.0% |
| FRPT FRESHPET INC | Consumer staples | 1.1M | $64.5M | 2.1% | -15.6% |
| INCY INCYTE CORP | Healthcare | 656.8K | $61.8M | 2.0% | -40.2% |
| DYN DYNE THERAPEUTICS INC | Healthcare | 3.2M | $57.6M | 1.9% | -2.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 262.1K | $54.6M | 1.8% | -28.7% |
| IRWD IRONWOOD PHARMACEUTICALS INC | Healthcare | 15.0M | $52.7M | 1.7% | -6.2% |
| CYTK CYTOKINETICS INC | Healthcare | 764.5K | $50.4M | 1.7% | -23.0% |
| HRMY HARMONY BIOSCIENCES HOLDINGS | Healthcare | 1.6M | $45.5M | 1.5% | +224.8% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 91.5K | $45.0M | 1.5% | +45.6% |
| NKTR NEKTAR THERAPEUTICS | Healthcare | 578.0K | $41.6M | 1.4% | -3.0% |
| UNH UNITEDHEALTH GROUP INC | Financials | 148.0K | $40.0M | 1.3% | New |
| UBER UBER TECHNOLOGIES INC | Services media | 518.8K | $37.3M | 1.2% | +83.5% |
| XRAY DENTSPLY SIRONA INC | Healthcare | 3.0M | $34.8M | 1.1% | -58.9% |
| RIGL RIGEL PHARMACEUTICALS INC | Healthcare | 1.3M | $34.6M | 1.1% | +53.1% |
| IRON DISC MEDICINE INC | Healthcare | 536.0K | $34.3M | 1.1% | +7.3% |
| GOOGL ALPHABET INC-CL A | Technology | 118.5K | $34.1M | 1.1% | -39.7% |
| MLYS MINERALYS THERAPEUTICS INC | Healthcare | 1.2M | $31.9M | 1.1% | +74.0% |
| HUBS HUBSPOT INC | Technology | 128.6K | $31.4M | 1.0% | +89.1% |
| AXGN AXOGEN INC | Healthcare | 936.0K | $31.0M | 1.0% | Held |
| OFIX ORTHOFIX MEDICAL INC | Healthcare | 2.7M | $31.0M | 1.0% | +2.0% |
| KURA KURA ONCOLOGY INC | Healthcare | 3.7M | $30.4M | 1.0% | -24.3% |
| AVNS AVANOS MEDICAL INC | Healthcare | 2.0M | $28.0M | 0.9% | -37.5% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 36.1K | $27.9M | 0.9% | -57.0% |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 158.0K | $27.1M | 0.9% | +107.6% |
| MDB MONGODB INC | Technology | 107.3K | $26.3M | 0.9% | +118.3% |
| MDLN MEDLINE INC-CL A | Healthcare | 564.9K | $25.1M | 0.8% | +873.6% |
| 4XC1 KALVISTA PHARMACEUTICALS INC | — | 1.2M | $24.9M | 0.8% | +54.5% |
| DDOG DATADOG INC - CLASS A | Technology | 208.6K | $24.6M | 0.8% | -14.7% |
| HUM HUMANA INC | Financials | 141.3K | $24.5M | 0.8% | +97.1% |
| S SENTINELONE INC -CLASS A | Technology | 1.9M | $24.4M | 0.8% | -21.6% |
| VSTM VERASTEM INC | Healthcare | 4.6M | $24.3M | 0.8% | +29.9% |
| FIVN FIVE9 INC | Technology | 1.6M | $24.2M | 0.8% | -20.4% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 52.0K | $24.0M | 0.8% | -14.8% |
| PENN PENN ENTERTAINMENT INC | Services media | 1.6M | $23.7M | 0.8% | -49.0% |
| SLDB SOLID BIOSCIENCES INC | Healthcare | 3.2M | $23.0M | 0.8% | +22.5% |
| GTLB GITLAB INC-CL A | Technology | 1.0M | $22.3M | 0.7% | +19.8% |
| ANGO ANGIODYNAMICS INC | Healthcare | 1.9M | $21.3M | 0.7% | +9.9% |
| ARVN ARVINAS INC | Healthcare | 2.0M | $21.0M | 0.7% | +9.9% |
| ANRO ALTO NEUROSCIENCE INC | Healthcare | 912.0K | $20.5M | 0.7% | -40.6% |
| ENR ENERGIZER HOLDINGS INC | Technology | 1.2M | $19.7M | 0.7% | +15.8% |
| META META PLATFORMS INC-CLASS A | Technology | 32.6K | $18.6M | 0.6% | New |
| FDMT 4D MOLECULAR THERAPEUTICS IN | Healthcare | 2.0M | $18.6M | 0.6% | +3.3% |
| MSFT MICROSOFT CORP | Technology | 48.9K | $18.1M | 0.6% | -58.7% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 224.8K | $18.0M | 0.6% | -19.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 267 | $5.62B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 370 | $8.40B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 17, 2025 | 332 | $6.74B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 210 | $5.80B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 230 | $6.67B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 232 | $7.33B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 259 | $6.25B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 254 | $7.95B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 337 | $7.54B | canonical | SEC ↗ |