Propel Bio Management, LLC
Long book
$158.7M
Q1 2026
Positions
38
Top-10 weight
58%
concentration
Last quarter
+26.8%
SPY +14.8%
Turnover
62%
of book per quarter
Strategy in plain words
auto-generated from filingsPropel Bio Management, LLC is a concentrated fundamental stock-picker, specialised in healthcare (71% of the long book), running a $158.7M US long book across 38 positions.
The portfolio is concentrated: the top 10 names carry 58% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: PLAINS GP HOLDINGS LP-CL A, ACHIEVE LIFE SCIENCES INC, PHATHOM PHARMACEUTICALS INC, DELCATH SYSTEMS INC, CORCEPT THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 2.4pp per quarter behind the S&P 500, beating the index in 3 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
-6.0%
Q2 2024
+2.1%
Q3 2024
-15.9%
Q4 2024
-5.9%
Q1 2025
+3.7%
Q2 2025
+9.6%
Q3 2025
+12.4%
Q4 2025
-8.5%
Q1 2026
+26.8%
Sector allocation
Healthcare 87%
Materials 13%
Long book by quarter
What does Propel Bio own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ACHV ACHIEVE LIFE SCIENCES INC | Materials | 3.8M | $11.4M | 7.2% | Held |
| PHAT PHATHOM PHARMACEUTICALS INC | Healthcare | 841.3K | $9.4M | 5.9% | +13.5% |
| DCTH DELCATH SYSTEMS INC | Healthcare | 979.7K | $9.2M | 5.8% | +123.4% |
| CORT CORCEPT THERAPEUTICS INC | Healthcare | 147.8K | $6.0M | 3.8% | New |
| ABEO ABEONA THERAPEUTICS INC | Healthcare | 1.3M | $6.0M | 3.8% | +60.1% |
| VOR VOR BIOPHARMA INC | Healthcare | 314.5K | $5.6M | 3.5% | New |
| KYTX KYVERNA THERAPEUTICS INC | Healthcare | 644.4K | $5.6M | 3.5% | -3.3% |
| MIST MILESTONE PHARMACEUTICALS IN | Healthcare | 4.1M | $5.1M | 3.2% | Held |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 131.4K | $4.1M | 2.6% | -14.9% |
| VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 210.2K | $4.1M | 2.6% | -25.6% |
| SABS SAB BIOTHERAPEUTICS INC | Healthcare | 1.0M | $3.9M | 2.4% | +55.1% |
| OBIO ORCHESTRA BIOMED HOLDINGS IN | Healthcare | 896.7K | $3.8M | 2.4% | New |
| FDMT 4D MOLECULAR THERAPEUTICS IN | Healthcare | 380.4K | $3.6M | 2.3% | New |
| OCS OCULIS HOLDING AG | Healthcare | 122.2K | $3.3M | 2.1% | -29.3% |
| OCUL OCULAR THERAPEUTIX INC | Healthcare | 382.4K | $3.2M | 2.0% | New |
| UPB UPSTREAM BIO INC | Healthcare | 341.8K | $3.1M | 2.0% | New |
| AQST AQUESTIVE THERAPEUTICS INC | Healthcare | 711.0K | $3.0M | 1.9% | New |
| EYPT EYEPOINT INC | Healthcare | 215.8K | $2.8M | 1.8% | New |
| TRVI TREVI THERAPEUTICS INC | Healthcare | 223.8K | $2.6M | 1.7% | New |
| ZVRA ZEVRA THERAPEUTICS INC | Healthcare | 282.4K | $2.6M | 1.7% | +343.5% |
| IMUX IMMUNIC INC | Healthcare | 2.3M | $2.6M | 1.7% | New |
| CHRS COHERUS ONCOLOGY INC | Healthcare | 1.4M | $2.4M | 1.5% | New |
| OVID OVID THERAPEUTICS INC | Healthcare | 921.5K | $2.0M | 1.3% | New |
| PALI PALISADE BIO INC | Healthcare | 1.1M | $2.0M | 1.3% | New |
| KLRS KALARIS THERAPEUTICS INC | Healthcare | 295.8K | $1.7M | 1.1% | +603.3% |
| QURE UNIQURE NV | Healthcare | 104.8K | $1.7M | 1.1% | New |
| LONA LEONABIO INC | Healthcare | 149.3K | $1.5M | 0.9% | Held |
| NUVB NUVATION BIO INC | Healthcare | 329.3K | $1.4M | 0.9% | New |
| MAZE MAZE THERAPEUTICS INC | Healthcare | 43.8K | $1.3M | 0.8% | New |
| EVMN EVOMMUNE INC | Healthcare | 55.7K | $1.3M | 0.8% | New |
| CRVS CORVUS PHARMACEUTICALS INC | Healthcare | 85.8K | $1.3M | 0.8% | New |
| ALDX ALDEYRA THERAPEUTICS INC | Healthcare | 730.6K | $1.2M | 0.8% | New |
| ARTV ARTIVA BIOTHERAPEUTICS INC | Healthcare | 146.4K | $950K | 0.6% | New |
| CNTB CONNECT BIOPHARMA HOLDINGS L | Healthcare | 209.5K | $554K | 0.3% | New |
| MSLE SATELLOS BIOSCIENCE INC | Healthcare | 10.1K | $57K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 38 | $158.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 20 | $117.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 16 | $99.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 16 | $82.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 18 | $86.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 21 | $100.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 21 | $172.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 25 | $154.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 29 | $171.8M | canonical | SEC ↗ |