Case file · CIK 0000909661
Event-driven and multi-strategy long-running sample.
Q4 2025 · SEC 13F case file
KOL-style case note
Event-driven and multi-strategy long-running sample. This page turns the latest public filing into a shareable research story: what the entity owns, which theme is driving the portfolio, and where to investigate next.
Event-driven and multi-strategy long-running sample. It belongs in a smart-money radar because its public 13F shows quarterly capital direction and theme preference.
The latest filing's largest public position is SPY, around 9.7% of the disclosed 13F portfolio. That is the first place to look for the current thesis.
Mixed is the clearest public theme in the portfolio. The important question is whether that theme repeats across the top positions, not just whether one stock worked.
The latest public portfolio is about $21.2B, with 151 lines and roughly 46.9% in the top 10. Higher concentration means a few decisions can explain more of the proxy return.
This is not a live trading signal. It is a quarterly capital map: start with the ranking, inspect the top holdings, then ask whether the manager has a repeatable framework.
13F filings are delayed and incomplete. They do not show shorts, many derivatives, private positions, cash, or current trade timing. Use this page to generate research questions, not to replace diligence.
Smart Money VelocityVelocity score blends 13F value growth, concentration, theme purity, option exposure, and filing history. It is a prioritization score, not a return.
Score blends filing growth, concentration, theme purity, call exposure, and filing history.
13F value
$21.2BQ4 2025, latest public filingGrowth since first filing
249.55x$84.9M → $21.2BReporting lag13F filings arrive after the quarter ends. The page shows a delayed public snapshot, not live positions.
45dQuarter-end snapshot, not live positionsThis is not actual fund performance. Returns and rankings use public disclosures after they become visible, not private NAV or live trading.
Disclosure workflow
Every number is anchored to a public quarterly filing. The report date is the portfolio snapshot; the filing date is when the market could actually see it.
Public holdings
| Holding | Theme | Type | Value | % |
|---|---|---|---|---|
| SPDR S&P 500 ETF TRSPY · 3,000,000 underlying shares | Hedge | PUT | $2B | 9.7% |
| REVOLUTION MEDICINES INCRVMD · 14,582,796 shares | Other | SH | $1.2B | 5.5% |
| MICROSOFT CORPMSFT · 2,214,079 shares | Software | SH | $1.1B | 5.1% |
| AMAZON COM INCAMZN · 4,499,894 shares | Consumer | SH | $1B | 4.9% |
| AON PLCAON · 2,665,238 shares | Other | SH | $940.5M | 4.4% |
| NATERA INCNTRA · 3,914,366 shares | Other | SH | $896.7M | 4.2% |
| BOSTON SCIENTIFIC CORPBSX · 7,439,564 shares | Other | SH | $709.4M | 3.3% |
| INVESCO EXCHANGE TRADED FD TRSP · 3,600,000 underlying shares | Hedge | PUT | $689.6M | 3.3% |
| EXELIXIS INCEXEL · 15,709,500 shares | Other | SH | $688.5M | 3.2% |
| BRIDGEBIO PHARMA INCBBIO · 8,998,463 shares | Semis | SH | $688.3M | 3.2% |
| ISHARES TRHYG · 8,000,000 underlying shares | Hedge | PUT | $645M | 3.0% |
| PROTAGONIST THERAPEUTICS INCPTGX · 6,144,006 shares | Other | SH | $536.6M | 2.5% |
| WABTECWAB · 2,476,003 shares | Other | SH | $528.5M | 2.5% |
| UNITEDHEALTH GROUP INCUNH · 1,598,906 shares | Other | SH | $527.8M | 2.5% |
| CYBERARK SOFTWARE LTDM2682V108 · 1,053,040 shares | Software | SH | $469.7M | 2.2% |
| DISNEY WALT CODIS · 4,125,991 shares | Other | SH | $469.4M | 2.2% |
| SYNOPSYS INCSNPS · 999,200 shares | Software | SH | $469.3M | 2.2% |
| ELI LILLY & COLLY · 375,000 underlying shares | Hedge | PUT | $403M | 1.9% |
| THERMO FISHER SCIENTIFIC INCTMO · 635,685 shares | Other | SH | $368.3M | 1.7% |
| LANTHEUS HLDGS INCLNTH · 5,427,479 shares | Other | SH | $361.2M | 1.7% |
| ARAMARKARMK · 9,357,046 shares | Other | SH | $344.9M | 1.6% |
| SALESFORCE INCCRM · 1,261,177 shares | Software | SH | $334.1M | 1.6% |
| SCHWAB CHARLES CORPSCHW · 3,339,657 shares | Other | SH | $333.7M | 1.6% |
| CRINETICS PHARMACEUTICALS INCRNX · 6,933,098 shares | Semis | SH | $322.7M | 1.5% |
| BROADCOM INCAVGO · 892,400 shares | Semis | SH | $308.9M | 1.5% |
| LIQUIDIA CORPORATIONLQDA · 8,656,038 shares | Other | SH | $298.5M | 1.4% |
| NASDAQ INCNDAQ · 2,989,213 shares | Other | SH | $290.3M | 1.4% |
| BEAM THERAPEUTICS INCBEAM · 10,063,111 shares | Other | SH | $278.9M | 1.3% |
| KKR & CO INCKKR · 2,017,700 shares | Other | SH | $257.2M | 1.2% |
| ALPHABET INCGOOG · 787,040 shares | Consumer | SH | $247M | 1.2% |
| MCKESSON CORPMCK · 298,900 shares | Other | SH | $245.2M | 1.2% |
| VISA INCV · 695,910 shares | Other | SH | $244.1M | 1.2% |
| NEW YORK TIMES CONYT · 3,280,678 shares | Other | SH | $227.7M | 1.1% |
| DAYFORCE INC15677J108 · 2,925,000 shares | Other | SH | $202.3M | 0.95% |
| GRAIL INCGRAL · 2,342,684 shares | Other | SH | $200.5M | 0.95% |
| BITWISE 10 CRYPTO INDEX ETFBITW · 3,385,500 shares | Other | SH | $198.9M | 0.94% |
| CBRE GROUP INCCBRE · 983,771 shares | Other | SH | $158.2M | 0.75% |
| AGIOS PHARMACEUTICALS INCAGIO · 5,159,505 shares | Semis | SH | $140.4M | 0.66% |
| CENTESSA PHARMACEUTICALS PLCCNTA · 5,377,068 shares | Semis | SH | $134.5M | 0.63% |
| BETA BIONICS INCBBNX · 4,313,920 shares | Other | SH | $131.4M | 0.62% |
| CARDINAL HEALTH INCCAH · 576,000 shares | Other | SH | $118.4M | 0.56% |
| TANGO THERAPEUTICS INCTNGX · 13,061,411 shares | Other | SH | $115.7M | 0.55% |
| HIMS & HERS HEALTH INCHIMS · 3,386,986 shares | Other | SH | $110M | 0.52% |
| ISHARES BITCOIN TRUST ETFIBIT · 2,137,100 shares | DC Bitcoin | SH | $106.1M | 0.50% |
| MASTERCARD INCORPORATEDMA · 172,671 shares | Other | SH | $98.6M | 0.47% |
| CIDARA THERAPEUTICS INC171757206 · 382,800 shares | Other | SH | $84.6M | 0.40% |
| TENET HEALTHCARE CORPTHC · 372,153 shares | Other | SH | $74M | 0.35% |
| WELLTOWER INCWELL · 343,000 shares | Semis | SH | $63.7M | 0.30% |
| TRANSUNIONTRU · 675,000 shares | Other | SH | $57.9M | 0.27% |
| TYRA BIOSCIENCES INCTYRA · 2,066,818 shares | Other | SH | $54.3M | 0.26% |
| VNET GROUP INCVNET · 6,285,386 shares | Other | SH | $53.2M | 0.25% |
| ABIVAX SAABVX · 387,000 shares | Other | SH | $52.2M | 0.25% |
| ENANTA PHARMACEUTICALS INCENTA · 2,772,262 shares | Semis | SH | $43.7M | 0.21% |
| INSMED INCINSM · 250,000 underlying shares | Other | CALL | $43.5M | 0.21% |
| ASSEMBLY BIOSCIENCES INCASMB · 1,227,590 shares | Other | SH | $41.8M | 0.20% |
| BAIDU INCBIDU · 315,300 shares | Other | SH | $41.2M | 0.19% |
| ALNYLAM PHARMACEUTICALS INCALNY · 100,000 underlying shares | Hedge | PUT | $39.8M | 0.19% |
| JOYY INCJOYY · 578,200 shares | Other | SH | $37.4M | 0.18% |
| ISHARES ETHEREUM TRETHA · 1,481,001 shares | Other | SH | $33.2M | 0.16% |
| STRUCTURE THERAPEUTICS INCGPCR · 454,000 shares | Other | SH | $31.6M | 0.15% |
| MINERALYS THERAPEUTICS INCMLYS · 823,296 shares | Other | SH | $29.9M | 0.14% |
| SUNOCOCORP LLCSUNC · 606,277 shares | Other | SH | $29.9M | 0.14% |
| PERCEPTIVE CAP SOLUTIONS CORG70077105 · 2,250,000 shares | Other | SH | $29.3M | 0.14% |
| TERNS PHARMACEUTICALS INCTERN · 642,000 shares | Semis | SH | $25.9M | 0.12% |
| ENCOMPASS HEALTH CORPEHC · 234,500 shares | Other | SH | $24.9M | 0.12% |
| AMKOR TECHNOLOGY INCAMKR · 464,000 shares | Other | SH | $18.3M | 0.09% |
| VERASTEM INCVSTM · 2,000,000 shares | Other | SH | $15.4M | 0.07% |
| DOXIMITY INCDOCS · 311,000 shares | Other | SH | $13.8M | 0.06% |
| GUARDANT HEALTH INCGH · 109,000 shares | Other | SH | $11.1M | 0.05% |
| MEDLINE INCMDLN · 260,000 shares | Other | SH | $10.9M | 0.05% |
| NEW ORIENTAL ED & TECHNOLOGY647581206 · 196,000 shares | Other | SH | $10.8M | 0.05% |
| MINERVA NEUROSCIENCES INCNERV · 2,365,000 shares | Other | SH | $9.5M | 0.04% |
| GENEDX HOLDINGS CORPWGS · 70,000 shares | Other | SH | $9.1M | 0.04% |
| GRAYSCALE ETHEREUM MINI TR E38964R203 · 228,340 shares | Other | SH | $6.4M | 0.03% |
| PRIME MEDICINE INCPRME · 1,240,843 shares | Other | SH | $4.3M | 0.02% |
| OSCAR HEALTH INCOSCR · 264,000 shares | Other | SH | $3.8M | 0.02% |
| MADRIGAL PHARMACEUTICALS INCMDGL · 3,319 shares | Semis | SH | $1.9M | 0.01% |
| SUMMIT MIDSTREAM CORPORATIONSMC · 58,214 shares | Other | SH | $1.6M | 0.01% |
| NOVAVAX INCNVAX · 195,000 shares | Other | SH | $1.3M | 0.01% |
| SCHRODINGER INCSDGR · 71,000 shares | Other | SH | $1.3M | 0.01% |
| TEVA PHARMACEUTICAL INDS LTD881624209 · 40,000 shares | Semis | SH | $1.2M | 0.01% |
| CAPRICOR THERAPEUTICS INCCAPR · 41,000 shares | Other | SH | $1.2M | 0.01% |
| ARROWHEAD PHARMACEUTICALS INARWR · 15,800 shares | Semis | SH | $1M | 0.00% |
| ALVOTECHALVO · 199,675 shares | Other | SH | $1M | 0.00% |
| BRIGHTSPRING HEALTH SVCS INC10950A106 · 22,000 shares | Other | SH | $823.9K | 0.00% |
| ROIVANT SCIENCES LTDROIV · 37,000 shares | Other | SH | $802.9K | 0.00% |
| ARCUTIS BIOTHERAPEUTICS INCARQT · 26,000 shares | Other | SH | $755K | 0.00% |
| AXSOME THERAPEUTICS INCAXSM · 4,000 shares | Other | SH | $730.6K | 0.00% |
| COGENT BIOSCIENCES INCCOGT · 17,000 shares | Other | SH | $603.8K | 0.00% |
| ALKERMES PLCALKS · 20,800 shares | Other | SH | $582K | 0.00% |
| INSMED INCINSM · 3,000 shares | Other | SH | $522.1K | 0.00% |
| KRYSTAL BIOTECH INCKRYS · 2,000 shares | Other | SH | $493.1K | 0.00% |
| PROGYNY INCPGNY · 18,000 shares | Other | SH | $462.2K | 0.00% |
| TRAVERE THERAPEUTICS INCTVTX · 12,000 shares | Other | SH | $458.5K | 0.00% |
| HEALTHEQUITY INCHQY · 5,000 shares | Other | SH | $458.1K | 0.00% |
| CELCUITY INCCELC · 4,000 shares | Other | SH | $399K | 0.00% |
| OMEROS CORPOMER · 23,000 shares | Other | SH | $395K | 0.00% |
| IONIS PHARMACEUTICALS INCIONS · 4,800 shares | Semis | SH | $379.7K | 0.00% |
| LIVANOVA PLCLIVN · 6,000 shares | Other | SH | $369.2K | 0.00% |
| GLOBUS MED INCGMED · 4,000 shares | Other | SH | $349.2K | 0.00% |
| CENCORA INCCOR · 1,000 shares | Other | SH | $337.8K | 0.00% |
| UNIQURE NVQURE · 14,000 shares | Other | SH | $335K | 0.00% |
| BEONE MEDICINES LTDONC · 1,100 shares | Other | SH | $334.2K | 0.00% |
| CG ONCOLOGY INCCGON · 8,000 shares | Other | SH | $332.2K | 0.00% |
| SCHOLAR ROCK HLDG CORPSRRK · 7,000 shares | Other | SH | $308.4K | 0.00% |
| IMMUNOVANT INCIMVT · 12,000 shares | Other | SH | $305K | 0.00% |
| NUVALENT INCNUVL · 3,000 shares | Other | SH | $301.8K | 0.00% |
| ASCENDIS PHARMA A/SASND · 1,400 shares | Semis | SH | $298.5K | 0.00% |
| VERACYTE INCVCYT · 7,000 shares | Other | SH | $294.7K | 0.00% |
| GLAUKOS CORPGKOS · 2,600 shares | Other | SH | $293.6K | 0.00% |
| SOLID POWER INCSLDP · 405,316 shares | Power | SH | $286.9K | 0.00% |
| STOKE THERAPEUTICS INCSTOK · 9,000 shares | Other | SH | $285.7K | 0.00% |
| SABRA HEALTH CARE REIT INCSBRA · 14,000 shares | Other | SH | $265.2K | 0.00% |
| MERIT MED SYS INC589889104 · 3,000 shares | Other | SH | $264.4K | 0.00% |
| GRIFOLS S AGRFS · 28,000 shares | Other | SH | $261.8K | 0.00% |
| ARCELLX INCACLX · 4,000 shares | Other | SH | $260.8K | 0.00% |
| NUVATION BIO INCNUVB · 29,000 shares | Other | SH | $259.8K | 0.00% |
| UROGEN PHARMA LTDURGN · 11,000 shares | Semis | SH | $257.6K | 0.00% |
| PACIFIC BIOSCIENCES CALIF IN69404D108 · 135,000 shares | Other | SH | $252.5K | 0.00% |
| GE HEALTHCARE TECHNOLOGIES IGEHC · 3,000 shares | Other | SH | $246.1K | 0.00% |
| TWIST BIOSCIENCE CORPTWST · 7,650 shares | Other | SH | $242.7K | 0.00% |
| MIRUM PHARMACEUTICALS INCMIRM · 3,000 shares | Semis | SH | $237K | 0.00% |
| SOLENO THERAPEUTICS INCSLNO · 5,000 shares | Other | SH | $231.5K | 0.00% |
| VAXCYTE INCPCVX · 5,000 shares | Other | SH | $230.7K | 0.00% |
| AMICUS THERAPEUTICS INCFOLD · 16,000 shares | Other | SH | $227.8K | 0.00% |
| NEOGENOMICS INCNEO · 19,000 shares | Other | SH | $223.4K | 0.00% |
| ALEANNA INCANNA · 78,400 shares | Other | SH | $223.4K | 0.00% |
| ICON PLCICLR · 1,200 shares | Other | SH | $218.7K | 0.00% |
| ESTABLISHMENT LABS HLDGS INCESTA · 3,000 shares | Other | SH | $218.6K | 0.00% |
| OCULAR THERAPEUTIX INCOCUL · 18,000 shares | Other | SH | $218.5K | 0.00% |
| SYNDAX PHARMACEUTICALS INCSNDX · 10,000 shares | Semis | SH | $210.1K | 0.00% |
| PRECIGEN INCPGEN · 50,000 shares | Other | SH | $209K | 0.00% |
| HEALTHCARE RLTY TR42226K105 · 12,000 shares | Other | SH | $203.4K | 0.00% |
| DYNE THERAPEUTICS INCDYN · 10,000 shares | Other | SH | $195.6K | 0.00% |
| BIOCRYST PHARMACEUTICALS INCBCRX · 24,000 shares | Semis | SH | $187.2K | 0.00% |
| TVARDI THERAPEUTICS INCTVRD · 43,225 shares | Other | SH | $185.9K | 0.00% |
| ADAPTIVE BIOTECHNOLOGIES CORADPT · 11,000 shares | Other | SH | $178.6K | 0.00% |
| ALEANNA INCANNA · 990,000 shares | Other | SH | $163.5K | 0.00% |
| ARDELYX INCARDX · 23,000 shares | Other | SH | $134.1K | 0.00% |
| BLUE GOLD LTDBGL · 300,000 shares | Other | SH | $132K | 0.00% |
| REVOLUTION MEDICINES INCRVMD · 120,085 shares | Other | SH | $112.9K | 0.00% |
| RANI THERAPEUTICS HLDGS INCRANI · 78,000 shares | Other | SH | $105.3K | 0.00% |
| ALTIMMUNE INCALT · 27,600 shares | Other | SH | $99.6K | 0.00% |
| IOVANCE BIOTHERAPEUTICS INCIOVA · 26,000 shares | Other | SH | $71K | 0.00% |
| GERON CORPGERN · 43,000 shares | Other | SH | $56.8K | 0.00% |
| EVOLENT HEALTH INCEVH · 14,000 shares | Other | SH | $56K | 0.00% |
| C4 THERAPEUTICS INCCCCC · 28,000 shares | Other | SH | $53.5K | 0.00% |
| IRONWOOD PHARMACEUTICALS INCIRWD · 13,000 shares | Semis | SH | $43.8K | 0.00% |
| CANOPY GROWTH CORPCGC · 30,000 shares | Other | SH | $34.2K | 0.00% |
| NVNI GROUP LIMITEDNVNI · 375,000 shares | Other | SH | $22.5K | 0.00% |
| BEYOND MEAT INCBYND · 19,000 shares | Other | SH | $15.6K | 0.00% |
Quarter tape
Signal breakdown
13F value is 249.55x the first tracked filing.
Top ten public lines are 46.9% of the latest report.
151 reportable lines in the latest public filing.
8 tracked quarterly 13F reports in the database or seed layer.
Publisher mode
Evidence layer
13F reports disclose long reportable U.S. securities and long put/call options. They do not show cash, private stakes, shorts, written options, or current live holdings.
Theme tags are deterministic product analysis from issuer, CUSIP, option type, and keyword rules. They are not SEC labels.
Vercel Cron calls the EDGAR ingestion endpoint every day and records per-manager ingestion results.
