Managers / Q3 2025 · view latest →
Boxer Capital Management, LLC
CIK 0002018299 · 12860 EL CAMINO REAL, SUITE 300, SAN DIEGO, CA, 92130 · 8584003115
Summary
Boxer Capital Management, LLC reported $314M in U.S.-listed holdings across 34 positions for Q3 2025.
The portfolio is heavily concentrated: TNGX alone accounts for 26.2% of reported value.
Compared with Q2 2025, the fund opened 15 new positions and exited 1.
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. 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 · 72.9% · $229M
- Other · 23.9% · $75M
- ADR · 3.2% · $10M
- Equity WRT · 0.0% · $54,893
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PTCTPTC THERAPEUTICS INC | NEW | +200.0K | 200.0K | +$12M | $12M |
| CYTKCYTOKINETICS INC | NEW | +200.0K | 200.0K | +$11M | $11M |
| ABVXABIVAX SA | NEW | +120.0K | 120.0K | +$10M | $10M |
| INOINOVIO PHARMACEUTICALS INC | NEW | +2.30M | 2.30M | +$5M | $5M |
| CELCCELCUITY INC | NEW | +90.0K | 90.0K | +$4M | $4M |
| SLDBSOLID BIOSCIENCES INC | NEW | +600.0K | 600.0K | +$4M | $4M |
| DNLIDENALI THERAPEUTICS INC | NEW | +250.0K | 250.0K | +$4M | $4M |
| PGENPRECIGEN INC | NEW | +850.0K | 850.0K | +$3M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $762M | 54 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $457M | 45 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $314M | 34 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $199M | 20 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $332M | 28 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $1.2B | 60 | Feb 14, 2025 | 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 ↗.