PSP Research
LAS VEGAS, NVfiles as PSP Research LLC
$188m in 75 US stocks at the end of 30 June 2026. The top 10 are 88.0% of the money. It changed about 23.8% of the portfolio this quarter.
Value
$188m
Stocks
75
Top 10 share
88.0%
Turnover
23.8%
What changed this quarter
New
Bought for the first time this quarter.
- Ascendis Pharma A/SASND0.2% of the fund
- LiquidiaLQDA0.2% of the fund
- Krystal BiotechKRYS0.1% of the fund
- ArriVent BioPharmaAVBP0.1% of the fund
- Jazz PharmaceuticalsJAZZ0.1% of the fund
- Revolution MedicinesRVMD0.1% of the fund
- Rhythm PharmaceuticalsRYTM0.1% of the fund
- Denali TherapeuticsDNLI0.1% of the fund
- Arrowhead PharmaceuticalsARWR0.1% of the fund
- Scholar Rock HoldingSRRK0.1% of the fund
- CytomX TherapeuticsCTMX<0.1% of the fund
Added
Bought more of a stock they already held.
- Spdr Series TrustXBI48.0% of the fund+100%
Cut
Sold some of their stake.
- Nurix TherapeuticsNRIX0.3% of the fund-13%
- Ultragenyx PharmaceuticalRARE0.3% of the fund-23%
- Monte Rosa TherapeuticsGLUE0.3% of the fund-18%
- TG TherapeuticsTGTX0.3% of the fund-23%
- Halozyme TherapeuticsHALO0.3% of the fund-13%
- PharvarisPHVS0.3% of the fund-25%
- Neurocrine BiosciencesNBIX0.3% of the fund-22%
- ImmunovantIMVT0.3% of the fund-32%
- Definium TherapeuticsDFTX0.3% of the fund-71%
- Kymera TherapeuticsKYMR0.2% of the fund-37%
- ExelixisEXEL0.2% of the fund-33%
- NewAmsterdam PharmaNAMS0.2% of the fund-20%
- Viking TherapeuticsVKTX0.2% of the fund-33%
- ImmunomeIMNM0.2% of the fund-10%
- Harmony Biosciences HoldingsHRMY0.2% of the fund-30%
- Spyre TherapeuticsSYRE0.2% of the fund-22%
- Intellia TherapeuticsNTLA0.2% of the fund-26%
- Kiniksa Pharmaceuticals InternationalKNSA0.2% of the fund-44%
- Tango TherapeuticsTNGX0.2% of the fund-31%
- ArdelyxARDX0.2% of the fund-25%
- Vera TherapeuticsVERA0.2% of the fund-30%
- Mirum PharmaceuticalsMIRM0.2% of the fund-50%
- Oruka TherapeuticsORKA0.2% of the fund-40%
- CRISPR Therapeutics AGCRSP0.1% of the fund-47%
- COMPASS PathwaysCMPS0.1% of the fund-75%
Sold out
Sold their entire stake.
- Sera PrognosticsSERA-100%
- Tyra BiosciencesTYRA-100%
- Ascendis Pharma A/SASND-100%
- CytokineticsCYTK-100%
- Agios PharmaceuticalsAGIO-100%
- Praxis Precision MedicinesPRAX-100%
- Inhibrx BiosciencesINBX-100%
- ErascaERAS-100%
- CelcuityCELC-100%
- Kalvista Pharmaceuticals-100%
- Legend BiotechLEGN-100%
- Apogee TherapeuticsAPGE-100%
- United TherapeuticsUTHR-100%
- Summit TherapeuticsSMMT-100%
- Compass TherapeuticsCMPX-100%
Holdings
- Spdr Series TrustXBI
- Share
- 48.0%
- Value
- $90m
- Shares
- 570,000
+100%
- Ishares TRSGOV
- Share
- 37.5%
- Value
- $70m
- Shares
- 700,000
Held
- Argenx SEARGX
- Share
- 0.3%
- Value
- $594,701
- Shares
- 641
Held
- Immunocore HldgsIMCR
- Share
- 0.3%
- Value
- $480,727
- Shares
- 15,141
Held
- Crinetics PharmaceuticalsCRNX
- Share
- 0.2%
- Value
- $411,620
- Shares
- 11,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Spdr Series TrustXBI | 48.0% | $90m | 570,000 | +100% |
| Ishares TRSGOV | 37.5% | $70m | 700,000 | Held |
| Royalty PharmaRPRX | 0.3% | $616,770 | 11,000 | Held |
| Nurix TherapeuticsNRIX | 0.3% | $606,500 | 25,000 | -13% |
| IncyteINCY | 0.3% | $600,808 | 5,300 | Held |
| Argenx SEARGX | 0.3% | $594,701 | 641 | Held |
| Disc MedicineIRON | 0.3% | $585,120 | 8,000 | Held |
| Rapport TherapeuticsRAPP | 0.3% | $583,380 | 14,000 | Held |
| Ultragenyx PharmaceuticalRARE | 0.3% | $567,630 | 17,000 | -23% |
| Trevi TherapeuticsTRVI | 0.3% | $559,500 | 30,000 | Held |
| Monte Rosa TherapeuticsGLUE | 0.3% | $556,600 | 23,000 | -18% |
| TG TherapeuticsTGTX | 0.3% | $549,400 | 10,000 | -23% |
| Halozyme TherapeuticsHALO | 0.3% | $547,890 | 7,000 | -13% |
| Ionis PharmaceuticalsIONS | 0.3% | $539,172 | 6,800 | Held |
| PharvarisPHVS | 0.3% | $518,700 | 15,000 | -25% |
| Arcutis BiotherapeuticsARQT | 0.3% | $516,534 | 19,700 | Held |
| Aurinia PharmaceuticalsAUPH | 0.3% | $509,100 | 30,000 | Held |
| Neurocrine BiosciencesNBIX | 0.3% | $505,605 | 3,000 | -22% |
| ImmunovantIMVT | 0.3% | $500,890 | 13,000 | -32% |
| Acadia PharmaceuticalsACAD | 0.3% | $500,080 | 19,766 | Held |
| PTC TherapeuticsPTCT | 0.3% | $489,420 | 6,000 | Held |
| Celldex TherapeuticsCLDX | 0.3% | $483,730 | 13,000 | Held |
| Immunocore HldgsIMCR | 0.3% | $480,727 | 15,141 | Held |
| Definium TherapeuticsDFTX | 0.3% | $470,400 | 10,000 | -71% |
| Cogent BiosciencesCOGT | 0.2% | $464,400 | 12,000 | Held |
| Kymera TherapeuticsKYMR | 0.2% | $458,680 | 4,000 | -37% |
| Dyne TherapeuticsDYN | 0.2% | $444,200 | 20,000 | Held |
| Alnylam PharmaceuticalsALNY | 0.2% | $441,009 | 1,465 | Held |
| Tarsus PharmaceuticalsTARS | 0.2% | $440,580 | 7,000 | Held |
| Syndax PharmaceuticalsSNDX | 0.2% | $437,200 | 20,000 | Held |
| ExelixisEXEL | 0.2% | $435,280 | 8,000 | -33% |
| Crinetics PharmaceuticalsCRNX | 0.2% | $411,620 | 11,000 | Held |
| NewAmsterdam PharmaNAMS | 0.2% | $406,680 | 12,000 | -20% |
| Ascendis Pharma A/SASND | 0.2% | $400,080 | 1,500 | New |
| LiquidiaLQDA | 0.2% | $398,650 | 5,000 | New |
| Stoke TherapeuticsSTOK | 0.2% | $392,640 | 12,000 | Held |
| Viking TherapeuticsVKTX | 0.2% | $390,100 | 10,000 | -33% |
| ImmunomeIMNM | 0.2% | $381,420 | 18,000 | -10% |
| Protagonist TherapeuticsPTGX | 0.2% | $367,740 | 3,000 | Held |
| Harmony Biosciences HoldingsHRMY | 0.2% | $364,100 | 10,000 | -30% |
| Enliven TherapeuticsELVN | 0.2% | $355,250 | 7,000 | Held |
| Spyre TherapeuticsSYRE | 0.2% | $355,120 | 4,000 | -22% |
| Intellia TherapeuticsNTLA | 0.2% | $338,400 | 20,000 | -26% |
| Madrigal PharmaceuticalsMDGL | 0.2% | $322,170 | 600 | Held |
| Kiniksa Pharmaceuticals InternationalKNSA | 0.2% | $319,750 | 5,000 | -44% |
| Alkermes plc.ALKS | 0.2% | $314,370 | 6,000 | Held |
| Tango TherapeuticsTNGX | 0.2% | $312,600 | 10,000 | -31% |
| ArdelyxARDX | 0.2% | $306,000 | 60,000 | -25% |
| Vera TherapeuticsVERA | 0.2% | $300,370 | 7,000 | -30% |
| Mirum PharmaceuticalsMIRM | 0.2% | $292,675 | 2,500 | -50% |
| Oruka TherapeuticsORKA | 0.2% | $285,510 | 3,000 | -40% |
| Supernus PharmaceuticalsSUPN | 0.1% | $279,060 | 6,000 | Held |
| CRISPR Therapeutics AGCRSP | 0.1% | $272,700 | 5,000 | -47% |
| ZymeworksZYME | 0.1% | $261,400 | 10,000 | Held |
| Krystal BiotechKRYS | 0.1% | $257,196 | 692 | New |
| COMPASS PathwaysCMPS | 0.1% | $254,700 | 18,000 | -75% |
| Xenon PharmaceuticalsXENE | 0.1% | $253,512 | 4,200 | Held |
| Axsome TherapeuticsAXSM | 0.1% | $244,770 | 1,000 | -65% |
| ArriVent BioPharmaAVBP | 0.1% | $244,604 | 7,041 | New |
| Dianthus TherapeuticsDNTH | 0.1% | $243,700 | 2,500 | -50% |
| Jazz PharmaceuticalsJAZZ | 0.1% | $233,982 | 971 | New |
| Kodiak SciencesKOD | 0.1% | $233,760 | 6,000 | -40% |
| Revolution MedicinesRVMD | 0.1% | $224,736 | 1,200 | New |
| BridgeBio PharmaBBIO | 0.1% | $223,440 | 3,000 | -50% |
| Rhythm PharmaceuticalsRYTM | 0.1% | $222,060 | 2,000 | New |
| Denali TherapeuticsDNLI | 0.1% | $217,668 | 8,463 | New |
| Arrowhead PharmaceuticalsARWR | 0.1% | $211,926 | 2,600 | New |
| Scholar Rock HoldingSRRK | 0.1% | $210,485 | 3,827 | New |
| Edgewise TherapeuticsEWTX | 0.1% | $203,150 | 5,000 | -23% |
| Amylyx PharmaceuticalsAMLX | 0.1% | $194,650 | 10,838 | Held |
| CytomX TherapeuticsCTMX | <0.1% | $147,750 | 39,400 | New |
| Ocular TherapeutixOCUL | <0.1% | $147,300 | 15,000 | Held |
| EyePointEYPT | <0.1% | $143,000 | 10,000 | Held |
| Oric PharmaceuticalsORIC | <0.1% | $140,790 | 13,000 | Held |
| Olema PharmaceuticalsOLMA | <0.1% | $125,100 | 10,000 | Held |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 64.2% since 31 December 2025.
Where the money is
Health care13.9%
Other86.1%
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.