SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Octagon Capital Advisors LP

CIK 0001839435 · 654 MADISON AVENUE, 21ST FLOOR, NEW YORK, NY, 10065 · 212-369-2829

Reported Value
$660M
Q3 2025
Positions
27
Filings on Record
23
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Octagon Capital Advisors LP reported $660M in U.S.-listed holdings across 27 positions for Q3 2025.

Its largest position, ABVX, represents 17.1% of the portfolio.

Compared with Q2 2025, the fund opened 4 new positions and exited 8.

Portfolio Metrics

Turnover
+20.2%
vs prior filed quarter
Top-10 Concentration
+71.3%
share of reported value
Largest Position
+17.1%
Abivax
New / Exited
4 / 8
positions this quarter

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

13F Reported Value
Q4 ’20: $288MQ4 ’20Q1 ’21: $265MQ2 ’21: $483MQ3 ’21: $406MQ3 ’21Q4 ’21: $514MQ1 ’22: $463MQ2 ’22: $375MQ2 ’22Q3 ’22: $579MQ4 ’22: $642MQ1 ’23: $695MQ1 ’23Q2 ’23: $719MQ3 ’23: $651MQ4 ’23: $625MQ4 ’23Q1 ’24: $834MQ2 ’24: $636MQ3 ’24: $643MQ3 ’24Q4 ’24: $608MQ1 ’25: $517MQ2 ’25: $456MQ2 ’25Q3 ’25: $660MQ4 ’25: $824MQ1 ’26: $904MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 70.7%ADR: 22.1%Other: 7.1%Equity WRT: 0.1%
  • Common Stock · 70.7% · $466M
  • ADR · 22.1% · $146M
  • Other · 7.1% · $47M
  • Equity WRT · 0.1% · $385,214

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CDTXCIDARA THERAPEUTICS INCNEW+300.0K300.0K+$29M$29M
BBOTBRIDGEBIO ONCOLOGY THERAPEUTNEW+1.04M1.04M+$12M$12M
PEPGPEPGEN INCNEW+700.0K700.0K+$3M$3M
GPCRSTRUCTURE THERAPEUTICS INCNEW+115.0K115.0K+$3M$3M
VRNAVERONA PHARMA PLCSOLD OUT−337.0K0−$32M$0
SPRYARS PHARMACEUTICALS INCSOLD OUT−1.35M0−$24M$0
ATYRATYR PHARMA INCSOLD OUT−3.82M0−$19M$0
TRMLTOURMALINE BIO INCSOLD OUT−905.0K0−$14M$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

25 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ABVXABIVAX SAhistory →SPONSORED ADS17.05%$112M1.32M
2DNTHDIANTHUS THERAPEUTICS INChistory →COM14.41%$95M2.42M
3GOSSGOSSAMER BIO INChistory →COM6.80%$45M17.05M
4COGTCOGENT BIOSCIENCES INChistory →COM6.26%$41M2.87M
5AVBPARRIVENT BIOPHARMA INChistory →COM5.51%$36M1.97M
6OCULOCULAR THERAPEUTIX INChistory →COM4.65%$31M2.62M
7TSHATAYSHA GENE THERAPIES INChistory →COM SHS4.49%$30M9.07M
8MERUS N VCOM4.40%$29M308.0K
9TRVITREVI THERAPEUTICS INChistory →COM3.90%$26M2.81M
10MIND MEDICINE MINDMED INCCOM NEW3.81%$25M2.13M
11APELLIS PHARMACEUTICALS INCCOM3.10%$20M903.5K
12KYMRKYMERA THERAPEUTICS INChistory →COM3.09%$20M360.0K
13CENTESSA PHARMACEUTICALS PLCSPONSORED ADS3.05%$20M830.0K
14PHARVARIS N VCOM2.73%$18M722.6K
15KALVISTA PHARMACEUTICALS INCCOM2.35%$16M1.27M
16CRBPCORBUS PHARMACEUTICALS HLDGShistory →COM NEW2.14%$14M1.11M
17BBOTBRIDGEBIO ONCOLOGY THERAPEUThistory →COM NEW1.83%$12M1.04M
18DBVTDBV TECHNOLOGIES S Ahistory →SPONSORED ADS1.54%$10M1.02M
19NUVBNUVATION BIO INCCOM CL A · *W EXP 02/10/2021.54%$10M2.74M
20CDTXCIDARA THERAPEUTICS INChistory →COM NEW1.45%$10M100.0K
21MAZEMAZE THERAPEUTICS INCCOM0.70%$5M177.7K
22NGNENEUROGENE INCCOM0.66%$4M252.0K
23UNCYUNICYCIVE THERAPEUTICS INCCOM NEW0.66%$4M1.00M
24PEPGPEPGEN INCCOM0.49%$3M700.0K
25GPCRSTRUCTURE THERAPEUTICS INCSPONSORED ADS0.49%$3M115.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$904M29May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$824M27Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$660M27Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$456M30Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$517M35May 16, 2025RESTATEMENTchanges · EDGAR ↗
Q4 2024$608M33Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$643M42Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$636M47Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$834M57May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$625M33Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$651M40Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$719M41Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$695M36May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$642M32Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$579M35Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$375M20Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$463M24May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$514M28Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$406M30Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$483M34Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$265M28May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$288M31Feb 16, 202113F-HRchanges · 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 ↗.