Data as of Q4 2025 (Dec 31, 2025)

SUPERSTRING CAPITAL MANAGEMENT LP

โ€ขCIK: 1931118โ€ขFiling: Q4 2025

**SUPERSTRING CAPITAL MANAGEMENT LP** This actively managed fund, overseeing $187M in assets, maintains a concentrated portfolio of 45 positions. Top holdings reveal significant conviction in select names, notably CDTX ($18.8M) and TERN ($17.9M), which together account for over 19% of the current exposure. The strategy demonstrates deep sector focus, with further substantial allocations to BCLYF ($16.8M) and COGT ($13.0M). The firm exhibits a high-conviction approach across its portfolio construction.

Total AUM
$186.8M
QoQ Performance
+84.0%
Positions
45
Top 10 Concentration
57.8%
Latest Filing
Q4 2025

Top Holdings Allocation

CDTX
TERN
UROG
COGT
CDTX10.1%
TERN9.6%
UROGEN9.0%
COGT7.0%
DVAX4.3%
SION4.0%
IMVT3.9%
AXSM3.7%

๐Ÿ“ˆ Biggest Buys

โ€”
UROGEN PHARMA LTD
+717.1%
9.0% of portfolio
DVAX
DYNAVAX TECHNOLOGIES CORP
NEW
4.3% of portfolio
SION
SIONNA THERAPEUTICS INC
NEW
4.0% of portfolio
AXSM
AXSOME THERAPEUTICS INC
NEW
3.7% of portfolio
BRD1EUR
MIND MEDICINE MINDMED INC
NEW
3.0% of portfolio

๐Ÿ“‰ Biggest Sells

TERN
TERNS PHARMACEUTICALS INC
-43.8%
9.6% of portfolio
YB4P
SAVARA INC
-24.0%
3.2% of portfolio
IMVT
IMMUNOVANT INC
-15.4%
3.9% of portfolio
AVTX
AVALO THERAPEUTICS INC
-18.5%
1.5% of portfolio
TVTX
TRAVERE THERAPEUTICS INC
-29.1%
0.8% of portfolio

Sector Breakdown

Other100.0%

๐Ÿšช Exited Positionssold since Q3 2025

ETNBGBP
89BIO INC
SOLD
$5.7M
JAZZ
JAZZ PHARMACEUTICALS PLC
SOLD
$5.4M
BBIO
BRIDGEBIO PHARMA INC
SOLD
$4.6M
SMMT
SUMMIT THERAPEUTICS INC
SOLD
$4.1M
IQV
IQVIA HLDGS INC
SOLD
$3.6M
+14 more exited positions

Changes from Q3 2025

NEW29 new positions
โ†‘5 increased
โ†“8 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023