Q1 2026 13F Filings: Where Biotech Hedge Funds Are Investing

The latest round of 13F filings reveals what the top specialist biotech hedge funds did with their portfolios during Q1 2026. Across all 20 tracked funds, we see 74 genuinely new positions initiated, 194 existing positions increased, and 0 complete exits. These filings are reported with a 45-day delay, so they reflect portfolio decisions made during the quarter, not real-time activity. But the pattern of accumulation and liquidation across multiple specialist funds reveals where institutional conviction is building — and where it's evaporating.

74 stocks saw genuinely new positions from tracked funds this quarter. The most notable: - [DFTX](/company/dftx) (Definium Therapeutics, Inc.): 7 funds (Driehaus Capital, Avoro Capital Advisors, Deep Track Capital +4), $334.6M total value - [DMRA](/company/dmra) (Damora Therapeutics, Inc.): 5 funds (Avoro Capital Advisors, RA Capital Management, Commodore Capital +2), $281.5M total value - [AKTS](/company/akts) (Aktis Oncology, Inc.): 5 funds (EcoR1 Capital, RTW Investments, RA Capital Management +2), $168.6M total value - [IRTC](/company/irtc) (iRhythm Holdings, Inc.): 4 funds (RTW Investments, Eventide Asset Management, Rock Springs Capital +1), $330.0M total value - [CRVS](/company/crvs) (Corvus Pharmaceuticals Inc.): 4 funds (Deep Track Capital, Commodore Capital, Eventide Asset Management +1), $84.1M total value - [IPSC](/company/ipsc) (Century Therapeutics, Inc.): 4 funds (RA Capital Management, Commodore Capital, RTW Investments +1), $82.4M total value - [STRO](/company/stro) (SUTRO BIOPHARMA, INC.): 3 funds (OrbiMed Advisors, Perceptive Advisors, Eventide Asset Management), $55.6M total value - [AGMB](/company/agmb) (Agomab Therapeutics NV): 3 funds (Cormorant Asset Management, Casdin Capital, Perceptive Advisors), $48.4M total value - [ZURA](/company/zura) (Zura Bio Ltd): 3 funds (Commodore Capital, Cormorant Asset Management, EcoR1 Capital), $35.0M total value - [EIKN](/company/eikn) (Eikon Therapeutics, Inc.): 3 funds (Foresite Capital, EcoR1 Capital, Baker Bros. Advisors), $34.2M total value When multiple specialist funds independently initiate positions in the same stock during the same quarter, it represents a strong convergence signal. See the convergence screener for the complete list.

194 stocks saw existing positions increased. Funds adding to positions they already own is a strong conviction signal — they've done the work and are doubling down. - [PRAX](/company/prax) (Praxis Precision Medicines, Inc.): 5 funds adding (Perceptive Advisors, Baker Bros. Advisors, Deerfield Management +2), $1.9B current value - [CNTA](/company/cnta) (Centessa Pharmaceuticals plc): 5 funds adding (EcoR1 Capital, Perceptive Advisors, Deep Track Capital +2), $668.2M current value - [TNGX](/company/tngx) (Tango Therapeutics Inc.): 5 funds adding (RTW Investments, Deerfield Management, Deep Track Capital +2), $469.2M current value - [CMPS](/company/cmps) (COMPASS Pathways plc): 5 funds adding (Tang Capital Management, OrbiMed Advisors, RTW Investments +2), $359.0M current value - [IRON](/company/iron) (Disc Medicine Inc.): 5 funds adding (RA Capital Management, BVF Partners, Deerfield Management +2), $327.7M current value - [INSM](/company/insm) (Insmed Incorporated): 4 funds adding (Baker Bros. Advisors, RTW Investments, Eventide Asset Management +1), $2.1B current value - [RVMD](/company/rvmd) (Revolution Medicines Inc.): 4 funds adding (Baker Bros. Advisors, Avoro Capital Advisors, Perceptive Advisors +1), $1.2B current value - [PCVX](/company/pcvx) (Vaxcyte Inc.): 4 funds adding (RA Capital Management, Deep Track Capital, Eventide Asset Management +1), $1.0B current value - [CGON](/company/cgon) (CG Oncology, Inc.): 4 funds adding (RTW Investments, EcoR1 Capital, Driehaus Capital +1), $640.0M current value - [XENE](/company/xene) (Xenon Pharmaceuticals Inc.): 4 funds adding (Avoro Capital Advisors, Deerfield Management, OrbiMed Advisors +1), $506.8M current value

13F filings are a starting point, not a trading signal. The data is 45+ days old by the time it's public, and prices may have moved significantly since then. The value of 13F analysis is in identifying where informed capital is flowing. When multiple specialist funds build positions in the same stock, it suggests a thesis that independent analysts arrived at separately. That convergence signal is the most powerful insight from 13F data. For individual company analysis, visit the company page to see fund ownership alongside insider trades, upcoming catalysts, short interest, and cash runway — the full context that makes 13F data actionable. *This article is generated from SEC EDGAR 13F filings and does not constitute investment advice.*