Boxer Capital Management, LLC

San Diego, CA · CIK 2018299 · 13F filing filed 2026-02-17

SEC-registered investment adviser since 2024 · limited liability company

Assets managed$578.2m
Staff19 · 8 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (2 hedge) · $578.2m gross assets
Websiteboxercap.com
Form ADV · 2026-05-11SEC adviser record

Legal entityBOXER CAPITAL MANAGEMENT, LLC (US)

$198.7m reported value -40.2% vs Q1 2025

20positions

91.4%in top 10

8 new 3 added 7 reduced 16 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TANGO THERAPEUTICS INC COM TNGX	TNGX	9,771,485	$50.0m25.18%	25.18%	Reduced -609.5k	-609,514 -5.9%
2	REVOLUTION MEDICINES INC COM RVMD	RVMD	792,977	$29.2m14.69%	14.69%	Reduced -525.0k	-525,000 -39.8%
3	REPLIMUNE GROUP INC COM REPL	REPL	2,211,341	$20.5m10.34%	10.34%	Added +415.0k	+415,000 23.1%
4	MERUS N V COM MRUS	MRUS	365,000	$19.2m9.66%	9.66%	Reduced -335.0k	-335,000 -47.9%
5	KYMERA THERAPEUTICS INC COM KYMR	KYMR	432,010	$18.9m9.49%	9.49%	Added +107.0k	+107,010 32.9%
6	UNIQURE NV SHS QURE	QURE	899,500	$12.5m6.31%	6.31%	Added +149.5k	+149,500 19.9%
7	ITEOS THERAPEUTICS INC COM ITOS	ITOS	825,000	$8.2m4.14%	4.14%	New
8	UROGEN PHARMA LTD COM URGN	URGN	575,000	$7.9m3.97%	3.97%	New
9	AMYLYX PHARMACEUTICALS INC COM AMLX	AMLX	1,225,000	$7.9m3.95%	3.95%	Reduced -525.0k	-525,000 -30.0%
10	CRESCENT BIOPHARMA INC. COM CBIO	CBIO	453,686	$7.3m3.69%	3.69%	New
11	PROTAGONIST THERAPEUTICS INC COM PTGX	PTGX	60,000	$3.3m1.67%	1.67%	New
12	NEKTAR THERAPEUTICS COM NEW NKTR	NKTR	125,000	$3.2m1.63%	1.63%	New
13	KODIAK SCIENCES INC COM KOD	KOD	750,000	$2.8m1.41%	1.41%	Reduced -285.0k	-285,000 -27.5%
14	CIDARA THERAPEUTICS INC COM NEW CDTX	CDTX	55,000	$2.7m1.35%	1.35%	New
15	NURIX THERAPEUTICS INC COM NRIX	NRIX	175,000	$2.0m1.00%	1.00%	Reduced -388.1k	-388,067 -68.9%
16	INSTIL BIO INC COM NEW TIL	TIL	70,700	$1.5m0.74%	0.74%	Reduced -9.4k	-9,425 -11.8%
17	KALVISTA PHARMACEUTICALS INC COM KALV	KALV	93,400	$1.1m0.53%	0.53%	New
18	SAREPTA THERAPEUTICS INC COM SRPT	SRPT	25,000	$427.5k0.22%	0.22%	New
19	NUVATION BIO INC *W EXP 07/07/202 NUVB.WS	NUVB.WS	266,666	$72.0k0.04%	0.04%	Unchanged
20	SURROZEN INC W EXP 08/01/203 W EXP 08/01/203		66,666	$1.2k0.00%	0.00%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
NUVALENT INC		450,000	$31.9m450.0k shares
AVIDITY BIOSCIENCES INC RNA	RNA	865,000	$25.5m865.0k shares
ANAPTYSBIO INC ANAB	ANAB	1,300,000	$24.2m1.3m shares
XENON PHARMACEUTICALS INC XENE	XENE	600,000	$20.1m600.0k shares
APELLIS PHARMACEUTICALS INC APLS	APLS	713,000	$15.6m713.0k shares
CHIMERIX INC CMRX	CMRX	1,810,000	$15.4m1.8m shares
ENLIVEN THERAPEUTICS INC ELVN	ELVN	671,358	$13.2m671.4k shares
ORIC PHARMACEUTICALS INC ORIC	ORIC	1,732,571	$9.7m1.7m shares
DAY ONE BIOPHARMACEUTICALS I		1,189,943	$9.4m1.2m shares
PROTHENA CORP PLC PRTA	PRTA	690,000	$8.5m690.0k shares
LEGEND BIOTECH CORP LEGN	LEGN	200,000	$6.8m200.0k shares
SOLID BIOSCIENCES INC SLDB	SLDB	1,240,700	$4.6m1.2m shares
DENALI THERAPEUTICS INC DNLI	DNLI	250,000	$3.4m250.0k shares
PRELUDE THERAPEUTICS INC PRLD	PRLD	2,108,014	$1.6m2.1m shares
BOUNDLESS BIO INC BOLD	BOLD	250,000	$377.5k250.0k shares
CLIMB BIO INC CLYM	CLYM	145,000	$176.9k145.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
Q32 BIO INC QTTB · 13G · filed 2026-07-10	QTTB	13.3%≈ $40.1m	new	13G	2026-07-10
SURROZEN INC SRZN · 13G · filed 2026-10-07	SRZN	11.6%≈ $35.3m	+2.7 pts	13G	2026-10-07