Paradigm Biocapital Advisors LP

Fundamental concentrated ★Signal healthcare specialist (100%) CIK 1855655
League rank
#153
in Fundamental concentrated · #240 overall
Long book
$4.89B
Q1 2026
Positions
35
Top-10 weight
68%
concentration
Last quarter
+27.8%
SPY +14.8%
Turnover
36%
of book per quarter

Strategy in plain words

auto-generated from filings

Paradigm Biocapital Advisors LP is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $4.89B US long book across 35 positions.

The portfolio is concentrated: the top 10 names carry 68% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ARCELLX INC, REVOLUTION MEDICINES INC, NUVALENT INC-A, VAXCYTE INC, EDGEWISE THERAPEUTICS INC.

Over the last 9 quarters its long book ran on average 2.9pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-9.7%
Q2 2024
+15.9%
Q3 2024
-9.6%
Q4 2024
-20.3%
Q1 2025
-2.7%
Q2 2025
+26.1%
Q3 2025
+32.3%
Q4 2025
+6.5%
Q1 2026
+27.8%

Sector allocation

Healthcare
82%
Other
18%

Long book by quarter

$2.84B
Q1 2024
$2.61B
Q2 2024
$2.86B
Q3 2024
$2.87B
Q4 2024
$2.17B
Q1 2025
$2.34B
Q2 2025
$3.38B
Q3 2025
$3.73B
Q4 2025
$4.89B
Q1 2026

What does Paradigm Biocapital own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
ACLXGBX ARCELLX INC—5.8M$663.0M13.5%+0.9%
RVMD REVOLUTION MEDICINES INCHealthcare6.7M$647.3M13.2%+0.2%
NUVL NUVALENT INC-AHealthcare5.3M$545.5M11.1%+1.0%
PCVX VAXCYTE INCHealthcare4.8M$278.5M5.7%+17.8%
EWTX EDGEWISE THERAPEUTICS INCHealthcare7.4M$232.0M4.7%+12.6%
INSM INSMED INCHealthcare1.3M$205.1M4.2%New
TARS TARSUS PHARMACEUTICALS INCHealthcare2.6M$179.7M3.7%Held
ERAS ERASCA INCHealthcare10.4M$168.2M3.4%-26.6%
OLMA OLEMA PHARMACEUTICALS INCHealthcare8.0M$119.6M2.4%+6.3%
430 TERNS PHARMACEUTICALS INC—2.2M$116.9M2.4%+173.5%
ORKA ORUKA THERAPEUTICS INCHealthcare2.3M$113.8M2.3%+35.7%
APGE APOGEE THERAPEUTICS INCHealthcare1.3M$113.5M2.3%+20.0%
SYRE SPYRE THERAPEUTICS INCHealthcare2.0M$98.7M2.0%+33.4%
CYTK CYTOKINETICS INCHealthcare1.5M$97.6M2.0%New
TNGX TANGO THERAPEUTICS INCHealthcare4.0M$83.9M1.7%New
MAZE MAZE THERAPEUTICS INCHealthcare2.7M$81.9M1.7%New
TYRA TYRA BIOSCIENCES INCHealthcare2.1M$78.7M1.6%New
VRDN VIRIDIAN THERAPEUTICS INCHealthcare3.1M$61.6M1.3%+118.2%
SRRK SCHOLAR ROCK HOLDING CORPHealthcare1.2M$60.3M1.2%-60.0%
MIRM MIRUM PHARMACEUTICALS INCHealthcare625.0K$57.7M1.2%New
EYPT EYEPOINT INCHealthcare3.1M$40.5M0.8%-14.9%
LXEO LEXEO THERAPEUTICS INCHealthcare6.2M$35.5M0.7%+29.8%
MANE VERADERMICS INCHealthcare525.0K$33.2M0.7%New
VOR VOR BIOPHARMA INCHealthcare1.8M$31.2M0.6%Held
URGN UROGEN PHARMA LTDHealthcare1.7M$30.6M0.6%-61.9%
ORIC ORIC PHARMACEUTICALS INCHealthcare1.7M$21.6M0.4%-29.2%
ASMB ASSEMBLY BIOSCIENCES INCHealthcare665.3K$18.5M0.4%Held
BBOT BRIDGEBIO ONCOLOGY THERAPEUTHealthcare868.2K$7.8M0.2%-61.6%
KLRS KALARIS THERAPEUTICS INCHealthcare700.0K$4.0M0.1%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 202635$4.89B canonicalSEC ↗
Q4 202513F-HRFeb 17, 202630$3.92B canonicalSEC ↗
Q3 202513F-HRNov 14, 202536$3.52B canonicalSEC ↗
Q2 202513F-HRAug 14, 202528$2.34B canonicalSEC ↗
Q1 202513F-HRMay 15, 202528$2.18B canonicalSEC ↗
Q4 202413F-HRFeb 14, 202528$2.87B canonicalSEC ↗
Q3 202413F-HRNov 14, 202433$2.96B canonicalSEC ↗
Q2 202413F-HRAug 14, 202435$2.61B canonicalSEC ↗
Q1 202413F-HRMay 15, 202434$2.84B canonicalSEC ↗

Similar funds

LILLY ENDOWMENT INCBAKER BROS. ADVISORS LPINVESTOR ABCarlyle Group Inc.GREENLEAF TRUSTAvoro Capital Advisors LLCRTW INVESTMENTS, LPRA CAPITAL MANAGEMENT, L.P.DEERFIELD MANAGEMENT COMPANY, L.P.Simplify Asset Management Inc.PERCEPTIVE ADVISORS LLCDeep Track Capital, LP