Managers / Q3 2025 · view latest →
Propel Bio Management, LLC
CIK 0001969764 · 11620 WILSHIRE BLVD.,, SUITE 350, LOS ANGELES, CA, 90025 · 908-507-9629
Summary
Propel Bio Management, LLC reported $100M in U.S.-listed holdings across 16 positions for Q3 2025.
The portfolio is heavily concentrated: PAGP alone accounts for 23.2% of reported value.
Compared with Q2 2025, the fund opened 6 new positions and exited 6.
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 · 73.8% · $74M
- Ltd Part · 23.2% · $23M
- ADR · 2.9% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CLDXCELLDEX THERAPEUTICS INC | NEW | +155.0K | 155.0K | +$4M | $4M |
| CMPSCOMPASS PATHWAYS PLC | NEW | +510.0K | 510.0K | +$3M | $3M |
| NKTRNEKTAR THERAPEUTICS | NEW | +49.0K | 49.0K | +$3M | $3M |
| JSPRJASPER THERAPEUTICS INC | NEW | +1.03M | 1.03M | +$2M | $2M |
| VRDNVIRIDIAN THERAPEUTICS INC | NEW | +90.0K | 90.0K | +$2M | $2M |
| LONAATHIRA PHARMA INC | NEW | +149.3K | 149.3K | +$618,015 | $618,015 |
| MISTMILESTONE PHARMACEUTICALS | ADDED | +3.33M | 5.12M | +$7M | $10M |
| CAPRCAPRICOR THERAPEUTICS INC | SOLD OUT | −70.0K | 0 | −$695,100 | $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 | PAGPPLAINS GP HOLDINGS LP-CLhistory → | LTD PARTNR INT A | 23.23% | $23M | 1.27M |
| 2 | ACHVACHIEVE LIFE SCIENCES INChistory → | COM | 11.94% | $12M | 3.79M |
| 3 | AKROAKERO THERAPEUTICS INChistory → | COM | 10.88% | $11M | 228.9K |
| 4 | MISTMILESTONE PHARMACEUTICALShistory → | COM | 10.26% | $10M | 5.12M |
| 5 | APLTAPPLIED THERAPEUTICS INChistory → | COM | 6.83% | $7M | 11.29M |
| 6 | PHATPHATHOM PHARMACEUTICALS Ihistory → | COM | 6.51% | $7M | 552.9K |
| 7 | ABEOABEONA THERAPEUTICS INChistory → | COM NEW | 5.15% | $5M | 974.0K |
| 8 | DCTHDELCATH SYSTEMS INChistory → | COM NEW | 4.72% | $5M | 438.5K |
| 9 | CLDXCELLDEX THERAPEUTICS INChistory → | COM NEW | 4.01% | $4M | 155.0K |
| 10 | TCRXTSCAN THERAPEUTICS INChistory → | COM | 3.52% | $4M | 1.93M |
| 11 | CMPSCOMPASS PATHWAYS PLChistory → | SPONSORED ADS | 2.93% | $3M | 510.0K |
| 12 | NKTRNEKTAR THERAPEUTICShistory → | COM NEW | 2.79% | $3M | 49.0K |
| 13 | JSPRJASPER THERAPEUTICS INChistory → | COM NEW | 2.45% | $2M | 1.03M |
| 14 | ZVRAZEVRA THERAPEUTICS INChistory → | COM NEW | 2.21% | $2M | 231.9K |
| 15 | VRDNVIRIDIAN THERAPEUTICS INChistory → | COM | 1.94% | $2M | 90.0K |
| 16 | LONAATHIRA PHARMA INC | COM | 0.62% | $618,015 | 149.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $159M | 38 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $117M | 20 | Feb 11, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $100M | 16 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $82M | 16 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $86M | 18 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $101M | 21 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $172M | 21 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $154M | 25 | Aug 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $172M | 29 | May 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $121M | 34 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 1 additional manager.
- Simplify Asset Management Inc.028-20937
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 ↗.