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Livermore
Livermore
ZHEN

Affinity Asset Advisors, LLC

SEC CIK
0001773195
Latest filing
Aug 13, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 13, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
86
0 vs. Q3 2025
Portfolio value
$1.39B
+$316.9M (+29.5%) vs. Q3 2025
Filed
Feb 13, 2026
SEC
Holdings of Affinity Asset Advisors, LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
APGEApogee Therapeutics, Inc.COM1,234,926$93.2M6.7%+61,500+5.2%AddedHistory
INSMINSMED IncCOM PAR $.01450,000$78.3M5.6%00.0%UnchangedHistory
ABVXAbivax S.A.SPONSORED ADS505,000$68.1M4.9%+145,000+40.3%AddedHistory
VTYXVentyx Biosciences, Inc.COM6,484,558$58.6M4.2%+2,560,143+65.2%AddedHistory
XENEXenon Pharmaceuticals Inc.COM1,250,000$56.0M4.0%−150,000−10.7%ReducedHistory
PRAXPraxis Precision Medicines, Inc.COM NEW185,000$54.5M3.9%+185,000NewHistory
CYTKCytokinetics IncCOM NEW800,000$50.8M3.7%+450,000+128.6%AddedHistory
SYRESpyre Therapeutics, Inc.COM NEW1,432,591$46.9M3.4%+13,292+0.9%AddedHistory
WVEWave Life Sciences, Inc.SHS2,700,000$45.9M3.3%+600,000+28.6%AddedHistory
TEVATeva Pharmaceutical Industries LtdSPONSORED ADS1,400,000$43.7M3.1%00.0%UnchangedHistory
ROIVRoivant Sciences Ltd.SHS1,700,000$36.9M2.7%+900,000+112.5%AddedHistory
ACLXArcellx, Inc.COMMON STOCK523,725$34.1M2.5%+23,725+4.7%AddedHistory
NUVLNuvalent, Inc.COM322,633$32.5M2.3%−61,784−16.1%ReducedHistory
LXEOLexeo Therapeutics, Inc.COM3,200,000$31.8M2.3%−670,527−17.3%ReducedHistory
ALKSAlkermes plc.SHS1,000,000$28.0M2.0%−250,000−20.0%ReducedHistory
FBRXForte Biosciences, Inc.COM NEW989,490$27.0M1.9%+989,490NewHistory
TRVITrevi Therapeutics, Inc.COM2,150,172$26.9M1.9%−649,828−23.2%ReducedHistory
MLYSMineralys Therapeutics, Inc.COM730,000$26.5M1.9%−20,000−2.7%ReducedHistory
BBIOBridgeBio Pharma, Inc.COM320,000$24.5M1.8%+255,000+392.3%AddedHistory
ORKAOruka Therapeutics, Inc.COM802,342$24.3M1.7%−156,838−16.4%ReducedHistory
TERNTerns Pharmaceuticals, Inc.COM550,000$22.2M1.6%+550,000NewHistory
ANABAnaptysbio, IncCOM444,692$21.6M1.5%+444,692NewHistory
CGEMCullinan Therapeutics, Inc.COM1,932,106$20.0M1.4%+1,668,289+632.4%AddedHistory
Omeros Corp682143AK8NOTE 9.500% 6/1–$19.4M1.4%–––
AVTXAvalo Therapeutics, Inc.COM NEW1,051,054$19.1M1.4%+44,837+4.5%AddedHistory
NRIXNurix Therapeutics, Inc.COM967,620$18.4M1.3%00.0%UnchangedHistory
TSHATaysha Gene Therapies, Inc.COM SHS3,300,000$18.1M1.3%+300,000+10.0%AddedHistory
MDGLMadrigal Pharmaceuticals, Inc.COM31,131$18.1M1.3%−83,869−72.9%ReducedHistory
SVRASavara IncCOM2,797,153$16.9M1.2%+1,297,153+86.5%AddedHistory
PTGXProtagonist Therapeutics, IncCOM172,125$15.0M1.1%−48,475−22.0%ReducedHistory
CNTACentessa Pharmaceuticals plcSPONSORED ADS600,552$15.0M1.1%−506,610−45.8%ReducedHistory
ESTAEstablishment Labs Holdings Inc.COM200,000$14.6M1.0%−110,000−35.5%ReducedHistory
ERASErasca, Inc.COM3,900,000$14.5M1.0%−385,787−9.0%ReducedHistory
VERAVera Therapeutics, Inc.CL A250,000$12.7M0.9%−53,330−17.6%ReducedHistory
COGTCogent Biosciences, Inc.COM350,000$12.4M0.9%+350,000NewHistory
OVIDOvid Therapeutics Inc.COM7,150,000$11.7M0.8%+4,500,000+169.8%AddedHistory
TVTXTravere Therapeutics, Inc.COM300,000$11.5M0.8%−200,000−40.0%ReducedHistory
JBIOJade Biosciences, Inc.COM NEW714,956$11.0M0.8%+649,639+994.6%AddedHistory
Travere Therapeutics, Inc.89422GAA5NOTE 2.250% 3/0–$9.99M0.7%–––
NAMSNewAmsterdam Pharma Co N.V.ORDINARY SHARES275,000$9.65M0.7%00.0%UnchangedHistory
CLDXCelldex Therapeutics, Inc.COM NEW350,000$9.51M0.7%+50,000+16.7%AddedHistory
ZURAZura Bio LtdCLASS A ORD SHS1,813,671$9.50M0.7%+539,320+42.3%AddedHistory
TNGXTango Therapeutics, Inc.COM1,000,000$8.86M0.6%+1,000,000NewHistory
STROSutro Biopharma, Inc.COM SHS748,382$8.66M0.6%+673,110+894.2%AddedConverted for a 1-for-10 splitHistory
RVMDRevolution Medicines, Inc.COM100,000$7.96M0.6%00.0%UnchangedHistory
MBXMBX Biosciences, Inc.COM250,000$7.88M0.6%+85,000+51.5%AddedHistory
VRDNViridian Therapeutics, Inc.COM250,000$7.78M0.6%00.0%UnchangedHistory
RCUSArcus Biosciences, Inc.COM300,000$7.15M0.5%+300,000NewHistory
SGMTSagimet Biosciences Inc.COM SER A1,148,245$6.80M0.5%+798,245+228.1%AddedHistory
KPTIKaryopharm Therapeutics Inc.COM NEW889,575$6.55M0.5%+889,575NewHistory
Celcuity Inc.15102KAA8NOTE 2.750% 8/0–$6.52M0.5%–––
ASNDAscendis Pharma A/SSPONSORED ADR30,000$6.40M0.5%+30,000NewHistory
VRCAVerrica Pharmaceuticals Inc.COM SHS707,338$5.88M0.4%+707,338NewHistory
ENGNenGene Therapeutics Inc.COM643,370$5.81M0.4%+566,370+735.5%AddedHistory
NAMSWNewAmsterdam Pharma Co N.V.*W EXP 11/22/202245,000$5.63M0.4%00.0%UnchangedHistory
RZLTRezolute, Inc.COM NEW2,351,144$5.55M0.4%+251,144+12.0%AddedHistory
AVDLAvadel Pharmaceuticals PLCStock250,000$5.39M0.4%+250,000NewHistory
CLYMClimb Bio, Inc.COM1,300,000$5.20M0.4%00.0%UnchangedHistory
IMVTImmunovant, Inc.COM200,000$5.08M0.4%−100,000−33.3%ReducedHistory
PRQRProQR Therapeutics N.V.SHS EURO2,454,278$4.96M0.4%−1,145,722−31.8%ReducedHistory
DNTHDianthus Therapeutics, Inc.COM115,000$4.74M0.3%−147,100−56.1%ReducedHistory
ARWRArrowhead Pharmaceuticals, Inc.COM70,000$4.65M0.3%+70,000NewHistory
IBIOiBio, Inc.COM NEW2,057,200$3.97M0.3%+2,057,200NewHistory
NXTCNextCure, Inc.COM NEW247,294$3.51M0.3%+55,412+28.9%AddedHistory
CRNXCrinetics Pharmaceuticals, Inc.COM75,000$3.49M0.3%00.0%UnchangedHistory
AMGNAmgen IncStock10,000$3.27M0.2%+10,000NewHistory
BLTEBelite Bio, IncSPONSORED ADS20,000$3.20M0.2%+20,000NewHistory
AVBPArriVent BioPharma, Inc.COM150,000$3.02M0.2%+150,000NewHistory
MRSNMersana Therapeutics, Inc.COMMON STOCK100,000$2.89M0.2%+100,000NewHistory
OACCUOaktree Acquisition Corp. III Life SciencesUNIT 10/04/2029250,000$2.65M0.2%00.0%UnchangedHistory
AVRAnteris Technologies Global Corp.COM486,684$2.43M0.2%+36,684+8.2%AddedHistory
OBIOOrchestra BioMed Holdings, Inc.COM572,804$2.38M0.2%−154,468−21.2%ReducedHistory
EPRXEupraxia Pharmaceuticals Inc.COM300,000$2.27M0.2%00.0%UnchangedHistory
GERNGeron CorpCOM1,500,000$1.98M0.1%00.0%UnchangedHistory
RAREUltragenyx Pharmaceutical Inc.COM75,000$1.73M0.1%+75,000NewHistory
KZRKezar Life Sciences, Inc.COM229,076$1.44M0.1%+229,076NewHistory
CMPSCOMPASS Pathways plcSPONSORED ADS200,000$1.38M0.1%00.0%UnchangedHistory
QUREuniQure N.V.SHS50,000$1.20M0.1%−250,000−83.3%ReducedHistory
Cogent Biosciences, Inc.19240QAA0NOTE 1.625%11/1–$1.18M0.1%–New–
CATXPerspective Therapeutics, Inc.COM NEW300,000$825.0K0.1%00.0%UnchangedHistory
MGNXMacrogenics IncCOM484,308$779.7K0.1%+484,308NewHistory
FRNMFreenome, Inc.CL A ORD SHS50,000$651.5K<0.1%−300,000−85.7%ReducedHistory
XFORX4 Pharmaceuticals, IncCOM NEW145,000$580.0K<0.1%+145,000NewHistory
QTTBQ32 Bio Inc.COM27,777$92.2K<0.1%00.0%UnchangedHistory
ADGMAdagio Medical Holdings, Inc.COM80,000$83.2K<0.1%00.0%UnchangedHistory
Rocket Pharmaceuticals, Inc.77313F114*W EXP 09/02/20275,000$1.82K<0.1%00.0%Unchanged–

Options (9)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Affinity Asset Advisors, LLC in Q4 2025
SecurityClassPutsCalls
State Street SPDR S&P Biotech ETF78464A870ETF$182.9M–
iShares Tr464287556ISHARES BIOTECH–$67.5M
AMGNAmgen IncStock–$44.2M
State Street Health Care Select Sector SPDR ETF81369Y209ETF–$38.7M
QUREuniQure N.V.SHS–$19.1M
SMMTSummit Therapeutics Inc.COM$6.12M–
ABUSArbutus Biopharma CorpCOM–$2.51M
LENZLENZ Therapeutics, Inc.COM$1.60M–
FBRXForte Biosciences, Inc.COM NEW–$610.8K

Sold out since Q3 2025 (22)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Affinity Asset Advisors, LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
VRNAVerona Pharma plcSPONSORED ADS625,000$66.7M6.2%History
SPYSPDR S&P 500 ETF TrustETF84,490$56.3M5.2%History
MRUSMerus N.V.COM285,769$26.9M2.5%History
SLNOSoleno Therapeutics IncCOM200,000$13.5M1.3%History
Karyopharm Therapeutics Inc.48576UAA4NOTE 3.000%10/1–$12.5M1.2%–
ELVNEnliven Therapeutics, Inc.COM400,000$8.19M0.8%History
TARSTarsus Pharmaceuticals, Inc.COM125,000$7.43M0.7%History
AKBAAkebia Therapeutics, Inc.COM2,450,000$6.69M0.6%History
MNPRMonopar TherapeuticsCOM NEW79,483$6.49M0.6%History
PCVXVaxcyte, Inc.COM125,000$4.50M0.4%History
INSPInspire Medical Systems, Inc.COM50,000$3.71M0.3%History
JAZZJazz Pharmaceuticals plcSHS USD25,000$3.29M0.3%History
AUTLAutolus Therapeutics plcSPON ADS1,750,000$2.85M0.3%History
OCULOcular Therapeutix, IncCOM239,000$2.79M0.3%History
OLMAOlema Pharmaceuticals, Inc.COM250,000$2.45M0.2%History
ATXSAstria Therapeutics, Inc.COM300,000$2.18M0.2%History
UTHRUnited Therapeutics CorpCOM5,000$2.10M0.2%History
MISTMilestone Pharmaceuticals Inc.COM666,666$1.33M0.1%History
CNTXContext Therapeutics Inc.COM402,653$390.1K<0.1%History
RPTXRepare Therapeutics Inc.COM200,000$352.0K<0.1%History
CBIOCrescent Biopharma, Inc.COM17,998$214.0K<0.1%History
SPRYARS Pharmaceuticals, Inc.COM2,500$25.1K<0.1%History