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Livermore
Livermore
ZHEN

Propel Bio Management, LLC

SEC CIK
0001969764
Latest filing
Aug 13, 2026

The latest 13F from Propel Bio Management, LLC covers Q2 2026 (filed Aug 13, 2026): 29 long positions worth $191.1M. The top 10 holdings make up 68.1% of the portfolio, and the largest is Plains GP Holdings LP (PAGP) at 16.2%. Livermore has 11 filings on Form 13F from this institution, going back to Q4 2023.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$5.29M
Added
12
Est. +$26.2M
Reduced
10
Est. −$10.8M
Sold out
12
Est. −$26.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. PAGPPlains GP Holdings LP
    16.2%$30.9MHistory
  2. ACHVAchieve Life Sciences, Inc.
    13.8%$26.3MHistory
  3. CORTCorcept Therapeutics Inc
    6.2%$11.9MHistory
  4. PHATPhathom Pharmaceuticals, Inc.
    6.0%$11.4MHistory
  5. DCTHDelcath Systems, Inc.
    5.7%$11.0MHistory

Share of portfolio

Top 5 holdings and the other 24 positions, by share of portfolio value

  1. PAGP16.2%
  2. ACHV13.8%
  3. CORT6.2%
  4. PHAT6.0%
  5. DCTH5.7%
  6. Other 24 positions52.1%

Biggest buys

New and added positions, by estimated amount bought

  1. ARTVArtiva Biotherapeutics, Inc.
    +$5.34MAddedHistory
  2. MISTMilestone Pharmaceuticals Inc.
    +$4.44MAddedHistory
  3. PALIPalisade Bio, Inc.
    +$3.07MAddedHistory
  4. AQSTAquestive Therapeutics, Inc.
    +$3.04MAddedHistory
  5. PHATPhathom Pharmaceuticals, Inc.
    +$2.27MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ACHVAchieve Life Sciences, Inc.
    +6.62 pp7.2% → 13.8%History
  2. ARTVArtiva Biotherapeutics, Inc.
    +2.94 pp0.6% → 3.5%History
  3. MISTMilestone Pharmaceuticals Inc.
    +2.01 pp3.2% → 5.2%History
  4. PALIPalisade Bio, Inc.
    +1.57 pp1.3% → 2.8%History
  5. AQSTAquestive Therapeutics, Inc.
    +1.28 pp1.9% → 3.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. VORVor Biopharma Inc.
    −$5.59MSold outHistory
  2. VRDNViridian Therapeutics, Inc.
    −$4.09MSold outHistory
  3. OCSOculis Holding AG
    −$3.28MSold outHistory
  4. TRVITrevi Therapeutics, Inc.
    −$2.65MSold outHistory
  5. CHRSCoherus Oncology, Inc.
    −$2.41MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. VORVor Biopharma Inc.
    −3.52 pp3.5% → 0.0%History
  2. VRDNViridian Therapeutics, Inc.
    −2.58 pp2.6% → 0.0%History
  3. OCSOculis Holding AG
    −2.07 pp2.1% → 0.0%History
  4. TRVITrevi Therapeutics, Inc.
    −1.67 pp1.7% → 0.0%History
  5. CHRSCoherus Oncology, Inc.
    −1.52 pp1.5% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$191.1M
+$32.4M (+20.4%) vs. prior quarter
Positions
29
−9 vs. prior quarter
Top 10 concentration
68.1%
Top 10 as share of value
Turnover
18.0%
Q2 2026, one quarter
Average holding period
5.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2023), so positions held before then are understated.

13F filings by quarter

11 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $191.1M (Q2 2026)

Q4 2023: $120.6MQ1 2024: $171.8MQ2 2024: $154.2MQ3 2024: $172.4MQ4 2024: $100.7MQ1 2025: $86.1MQ2 2025: $82.4MQ3 2025: $99.9MQ4 2025: $117.1MQ1 2026: $158.7MQ2 2026: $191.1M
Q4 2023Q2 2026
13F filings of Propel Bio Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202629$191.1MPAGPACHVCORTvs. Q1 2026SEC
Q1 2026May 14, 202638$158.7MPAGPACHVPHATvs. Q4 2025SEC
Q4 2025Feb 11, 202620$117.1MPAGPACHVPHATvs. Q3 2025SEC
Q3 2025Nov 12, 202516$99.9MPAGPACHVAKROvs. Q2 2025SEC
Q2 2025Aug 13, 202516$82.4MPAGPACHVAKROvs. Q1 2025SEC
Q1 2025May 15, 202518$86.1MPAGPMDGLAKROvs. Q4 2024SEC
Q4 2024Feb 14, 202521$100.7MPAGPMDGLAKROvs. Q3 2024SEC
Q3 2024Nov 13, 202421$172.4MAPLTPAGPPHATvs. Q2 2024SEC
Q2 2024Aug 12, 202424$154.2MAPLTPAGPTCRXvs. Q1 2024SEC
Q1 2024May 13, 202428$171.8MAPLTSimplify Exchange Traded FunTCRXvs. Q4 2023SEC
Q4 2023Feb 14, 202434$120.6MPAGPAPLTTCRX–SEC

13D and 13G filings

Companies where Propel Bio Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Propel Bio Management, LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
MISTMilestone Pharmaceuticals Inc.13G9.90%8.86M sharesNewDec 23, 20251 filingDec 23, 2025SEC

Latest filings

9 filings on file made by Propel Bio Management, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Propel Bio Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
APLTApplied Therapeutics, Inc.Dec 31, 202512:29 PM ET13G/A4.20%6.02M shares–Below 5%Dec 29, 2025SEC
MISTMilestone Pharmaceuticals Inc.Dec 23, 20252:20 PM ET13G9.90%8.86M sharesNewJul 11, 2025SEC
ACHVAchieve Life Sciences, Inc.May 17, 202413GOld format–New–SEC
APLTApplied Therapeutics, Inc.Feb 22, 202413G/AOld format–––SEC
EIGREiger BioPharmaceuticals, Inc.Nov 3, 202313D/AOld format–––SEC
EIGREiger BioPharmaceuticals, Inc.Oct 20, 202313DOld format–––SEC
EIGREiger BioPharmaceuticals, Inc.Sep 28, 202313G/AOld format–––SEC
EIGREiger BioPharmaceuticals, Inc.Aug 15, 202313GOld format–New–SEC
APLTApplied Therapeutics, Inc.May 2, 202313GOld format–New–SEC