SR One Capital Management, LP
Long book
$915.4M
Q1 2026
Positions
14
Top-10 weight
96%
concentration
Last quarter
+42.3%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsSR One Capital Management, LP is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $915.4M US long book across 14 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ARCELLX INC, VERADERMICS INC, ZENAS BIOPHARMA INC, CRISPR THERAPEUTICS AG, DESIGN THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 2.6pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-22.4%
Q2 2024
+10.0%
Q3 2024
-24.7%
Q4 2024
-8.1%
Q1 2025
+10.9%
Q2 2025
+54.5%
Q3 2025
+12.0%
Q4 2025
-10.7%
Q1 2026
+42.3%
Sector allocation
Healthcare 71%
Other 29%
Long book by quarter
What does SR One own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ACLXGBX ARCELLX INC | — | 2.3M | $269.4M | 29.4% | Held |
| MANE VERADERMICS INC | Healthcare | 2.4M | $151.7M | 16.6% | New |
| ZBIO ZENAS BIOPHARMA INC | Healthcare | 5.0M | $98.5M | 10.8% | Held |
| CRSP CRISPR THERAPEUTICS AG | Healthcare | 2.0M | $97.0M | 10.6% | Held |
| DSGN DESIGN THERAPEUTICS INC | Healthcare | 6.5M | $69.4M | 7.6% | Held |
| ORIC ORIC PHARMACEUTICALS INC | Healthcare | 4.5M | $58.5M | 6.4% | Held |
| ALMS ALUMIS INC | Healthcare | 2.0M | $43.2M | 4.7% | Held |
| MLYS MINERALYS THERAPEUTICS INC | Healthcare | 1.6M | $42.4M | 4.6% | Held |
| SPRY ARS PHARMACEUTICALS INC | Healthcare | 4.0M | $32.2M | 3.5% | Held |
| ORKA ORUKA THERAPEUTICS INC | Healthcare | 430.3K | $21.1M | 2.3% | Held |
| OCS OCULIS HOLDING AG | Healthcare | 641.0K | $17.0M | 1.9% | Held |
| NKTX NKARTA INC | Healthcare | 3.3M | $7.0M | 0.8% | Held |
| ENGN enGene Therapeutics Inc | Healthcare | 747.8K | $5.1M | 0.6% | Held |
| RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 137.8K | $2.9M | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 14 | $915.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 13 | $706.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 12 | $691.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 13 | $461.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 12 | $389.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 11 | $410.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 11 | $498.7M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 9 | $319.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 6 | $364.1M | canonical | SEC ↗ |