NEXTBio Capital Management LP
AUSTIN, TX
$217m in 22 US stocks at the end of 30 June 2026. The top 10 are 77.7% of the money. It changed about 24.1% of the portfolio this quarter.
Value
$217m
Stocks
22
Top 10 share
77.7%
Turnover
24.1%
What changed this quarter
New
Bought for the first time this quarter.
- PharvarisPHVS1.7% of the fund
- BioAge LabsBIOA1.1% of the fund
- LB PharmaceuticalsLBRX1.0% of the fund
Added
Bought more of a stock they already held.
- Shattuck LabsSTTK11.9% of the fund+18%
- Structure TherapeuticsGPCR7.7% of the fund+135%
- Rhythm PharmaceuticalsRYTM6.7% of the fund+5%
- Palvella TherapeuticsPVLA6.3% of the fund+9%
- Oric PharmaceuticalsORIC3.5% of the fund+35%
- InventivaIVA3.1% of the fund+34%
- VaxcytePCVX2.9% of the fund+13%
Cut
Sold some of their stake.
- Protagonist TherapeuticsPTGX12.4% of the fund-4%
- COMPASS PathwaysCMPS11.6% of the fund-12%
- Vor BiopharmaVOR7.5% of the fund-11%
- EvommuneEVMN0.7% of the fund-35%
Sold out
Sold their entire stake.
- Terns Pharmaceuticals-100%
- Compass TherapeuticsCMPX-100%
- Oculis Holding AGOCS-100%
- Kalvista Pharmaceuticals-100%
- Summit TherapeuticsSMMT-100%
Holdings
- Structure TherapeuticsGPCR
- Share
- 7.7%
- Value
- $17m
- Shares
- 312,496
+135%
- ZAI LABZLAB
- Share
- 1.6%
- Value
- $3m
- Shares
- 183,362
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Protagonist TherapeuticsPTGX | 12.4% | $27m | 219,333 | -4% |
| Shattuck LabsSTTK | 11.9% | $26m | 3,727,348 | +18% |
| COMPASS PathwaysCMPS | 11.6% | $25m | 1,775,759 | -12% |
| Structure TherapeuticsGPCR | 7.7% | $17m | 312,496 | +135% |
| Vor BiopharmaVOR | 7.5% | $16m | 889,164 | -11% |
| Rhythm PharmaceuticalsRYTM | 6.7% | $15m | 131,758 | +5% |
| Palvella TherapeuticsPVLA | 6.3% | $14m | 89,909 | +9% |
| Xenon PharmaceuticalsXENE | 5.1% | $11m | 183,225 | Held |
| Zenas BioPharmaZBIO | 5.0% | $11m | 426,736 | Held |
| Oric PharmaceuticalsORIC | 3.5% | $8m | 706,124 | +35% |
| InventivaIVA | 3.1% | $7m | 1,787,984 | +34% |
| Crescent BiopharmaCBIO | 3.1% | $7m | 372,856 | Held |
| VaxcytePCVX | 2.9% | $6m | 107,223 | +13% |
| Cogent BiosciencesCOGT | 2.3% | $5m | 131,075 | Held |
| VerastemVSTM | 2.3% | $5m | 1,306,800 | Held |
| Disc MedicineIRON | 1.8% | $4m | 52,655 | Held |
| PharvarisPHVS | 1.7% | $4m | 108,055 | New |
| ZAI LABZLAB | 1.6% | $3m | 183,362 | Held |
| BioAge LabsBIOA | 1.1% | $2m | 100,732 | New |
| LB PharmaceuticalsLBRX | 1.0% | $2m | 68,249 | New |
| EvommuneEVMN | 0.7% | $2m | 119,063 | -35% |
| Adicet BioACET | 0.6% | $1m | 157,827 | Held |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 27.5% since 31 December 2025.
Where the money is
Health care90.7%
Other9.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.