Managers / Q3 2025 · view latest →
BML Capital Management, LLC
CIK 0001616824 · 65 E CEDAR - SUITE 2, ZIONSVILLE, IN, 46077 · 317-344-2447
Summary
Bml Capital Management, LLC reported $109M in U.S.-listed holdings across 20 positions for Q3 2025.
The portfolio is heavily concentrated: ACRS alone accounts for 24.8% of reported value.
Compared with Q2 2025, the fund opened 7 new positions and exited 11.
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 · 95.3% · $104M
- Other · 4.7% · $5M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CONNECT BIOPHARMA HLDGS LTD | NEW | +1.27M | 1.27M | +$2M | $2M |
| IMAIMAGENEBIO INC | NEW | +182.5K | 182.5K | +$1M | $1M |
| LONAATHIRA PHARMA INC | NEW | +323.1K | 323.1K | +$1M | $1M |
| DYHTARGET CORP | NEW | +10.0K | 10.0K | +$897,000 | $897,000 |
| WMTWALMART INC | NEW | +265 | 265 | +$518,738 | $518,738 |
| ARVNARVINAS INC | NEW | +50.0K | 50.0K | +$426,000 | $426,000 |
| MURAL ONCOLOGY PUB LTD CO | NEW | +57.5K | 57.5K | +$119,025 | $119,025 |
| EPIEURESSA PHARMA INC | SOLD OUT | −4.22M | 0 | −$7M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ACRSACLARIS THERAPEUTICS INChistory → | COM | 24.79% | $27M | 14.25M |
| 2 | AVIRATEA PHARMACEUTICALS INChistory → | COM | 19.85% | $22M | 7.47M |
| 3 | AVU0ADVERUM BIOTECHNOLOGIES INChistory → | COM NEW | 12.68% | $14M | 3.06M |
| 4 | TILINSTIL BIO INChistory → | COM NEW | 10.56% | $12M | 645.6K |
| 5 | ORMPORAMED PHARMACEUTICALS INChistory → | COM NEW | 7.66% | $8M | 3.17M |
| 6 | PMVPPMV PHARMACEUTICALS INChistory → | COM | 6.78% | $7M | 5.29M |
| 7 | ALMSALUMIS INChistory → | COM | 4.42% | $5M | 1.21M |
| 8 | LAVA THERAPEUTICS NV | SHS | 2.81% | $3M | 1.97M |
| 9 | 2KZ0KEZAR LIFE SCIENCES INChistory → | COM NEW | 2.57% | $3M | 720.8K |
| 10 | CONNECT BIOPHARMA HLDGS LTD | SHS | 1.75% | $2M | 1.27M |
| 11 | IMAIMAGENEBIO INChistory → | COM | 1.36% | $1M | 182.5K |
| 12 | LONAATHIRA PHARMA INChistory → | COM | 1.22% | $1M | 323.1K |
| 13 | ASTCASTROTECH CORP | COM | 0.99% | $1M | 220.4K |
| 14 | DYHTARGET CORP | COM | 0.82% | $897,000 | 10.0K |
| 15 | VTGNVISTAGEN THERAPEUTICS INC | COM | 0.49% | $532,500 | 150.0K |
| 16 | ARVNARVINAS INC | COM | 0.39% | $426,000 | 50.0K |
| 17 | LSTALISATA THERAPEUTICS INC | COM | 0.26% | $287,783 | 109.8K |
| 18 | MURAL ONCOLOGY PUB LTD CO | ORD SHS | 0.11% | $119,025 | 57.5K |
| 19 | THIRD HARMONIC BIO INC | COM | 0.00% | $0 | 3.82M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $156M | 16 | May 6, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $116M | 16 | Feb 3, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $109M | 20 | Nov 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $132M | 24 | Aug 11, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $124M | 27 | May 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $161M | 25 | Feb 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $170M | 29 | Nov 5, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $140M | 28 | Aug 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $152M | 32 | Apr 24, 2024 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2023 | $132M | 35 | Feb 2, 2024 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2023 | $109M | 26 | Oct 23, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $111M | 31 | Jul 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $116M | 31 | Apr 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $105M | 25 | Feb 13, 2023 | 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 ↗.