Managers / Q2 2023 · view latest →
Aquilo Capital Management, LLC
CIK 0001591986 · ONE LETTERMAN DRIVE, SUITE D4900, BUILDING D, SAN FRANCISCO, CA, 94129 · 415-635-0140
Summary
Aquilo Capital Management, LLC reported $180M in U.S.-listed holdings across 13 positions for Q2 2023.
Its largest position, ARWR, represents 17.0% of the portfolio.
Compared with Q1 2023, the fund opened 3 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 61.9% · $112M
- ETP · 15.6% · $28M
- Other · 11.3% · $20M
- ADR · 11.2% · $20M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| IWMISHARES RUSSELL 2000 ETF TR | NEW | +150.0K | 150.0K | +$28M | $28M |
| OLMAOLEMA PHARMACEUTICALS INC | NEW | +250.0K | 250.0K | +$2M | $2M |
| CCCCC4 THERAPEUTICS INC | NEW | +760.7K | 760.7K | +$2M | $2M |
| QQQINVESCO QQQ TR | SOLD OUT | −220.0K | 0 | −$71M | $0 |
| QUREUNIQURE NV | SOLD OUT | −637.5K | 0 | −$13M | $0 |
| MERUS N V | TRIMMED | −450.0K | 775.1K | −$2M | $20M |
| ARGXARGENX SE | TRIMMED | −7.7K | 16.3K | −$3M | $6M |
| GMABGENMAB A/S | TRIMMED | −68.2K | 174.6K | −$3M | $7M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ARWRARROWHEAD PHARMACEUTICALS INhistory → | COM | 16.96% | $31M | 858.5K |
| 2 | BLUEPRINT MEDICINES CORP | COM | 15.72% | $28M | 449.0K |
| 3 | MERUS N V | COM | 11.31% | $20M | 775.1K |
| 4 | RGNXREGENXBIO INChistory → | COM | 9.64% | $17M | 870.1K |
| 5 | ARVNARVINAS INChistory → | COM | 8.58% | $15M | 623.9K |
| 6 | KYMRKYMERA THERAPEUTICS INChistory → | COM | 8.30% | $15M | 651.3K |
| 7 | SLNSILENCE THERAPEUTICS PLChistory → | ADS | 4.00% | $7M | 1.31M |
| 8 | GMABGENMAB A/Shistory → | SPONSORED ADS | 3.68% | $7M | 174.6K |
| 9 | ARGXARGENX SEhistory → | SPONSORED ADR | 3.52% | $6M | 16.3K |
| 10 | OLMAOLEMA PHARMACEUTICALS INChistory → | COM | 1.25% | $2M | 250.0K |
| 11 | CCCCC4 THERAPEUTICS INChistory → | COM STK | 1.16% | $2M | 760.7K |
| 12 | PIERIS PHARMACEUTICALS INC | COM | 0.30% | $546,678 | 3.30M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2025 | $0 | 1 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $0 | 1 | Aug 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $56M | 13 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $66M | 15 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $132M | 14 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $104M | 13 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $133M | 10 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $160M | 10 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $110M | 12 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $180M | 13 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $241M | 12 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $266M | 13 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $277M | 15 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $293M | 13 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $680M | 14 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $882M | 14 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $551M | 14 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $385M | 15 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $553M | 17 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $481M | 17 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $945M | 17 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $496M | 14 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $257M | 14 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $266M | 12 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $142M | 11 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $288M | 13 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $226M | 14 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.