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ARMISTICE CAPITAL, LLC

Q4 2025 · Filed 2026-02-17
Market Value
$4.0B
+27.6%
Holdings
463
+115
New Purchases
165
Added To
101
Closed
133
Reduced
51
Top 10 Concentration
31.6%
Turnover
64.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MDGL 3.85% 1.75% +2.10% $155M
KVUE 1.72% 0.00% +1.72% $69M
GSK 1.22% 0.00% +1.22% $49M
AGIO 2.06% 0.97% +1.08% $83M
ELF 1.25% 0.56% +0.69% $50M
IRWD 1.35% 0.67% +0.67% $54M
IMVT 3.64% 2.99% +0.65% $146M
DXCM 0.53% 0.00% +0.53% $21M
ENR 0.51% 0.00% +0.51% $21M
ANRO 0.68% 0.21% +0.47% $27M
HRMY 0.47% 0.00% +0.47% $19M
NKE 0.63% 0.18% +0.45% $25M
LYV 0.43% 0.00% +0.43% $17M
DHR 0.61% 0.20% +0.41% $25M
DYN 1.58% 1.23% +0.35% $64M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EXAS 0.00% 1.79% -1.79% $0
TVTX 3.58% 5.11% -1.53% $144M
PTCT 5.30% 6.39% -1.09% $213M
TMCI 0.39% 1.35% -0.96% $16M
SUPN 3.42% 4.31% -0.89% $137M
NVO 0.43% 1.30% -0.87% $17M
REGN 1.61% 2.24% -0.62% $65M
MDB 0.51% 1.11% -0.60% $21M
FIVN 1.00% 1.54% -0.54% $40M
CYTK 1.57% 2.09% -0.52% $63M
VRTX 0.00% 0.50% -0.50% $0
RBLX 0.08% 0.55% -0.47% $3M
INCY 2.70% 3.15% -0.45% $108M
BMY 0.50% 0.93% -0.43% $20M
CTOR 0.14% 0.50% -0.36% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 19 $301M 7.5%
Large Cap 209 $1.5B 38.4%
Mid Cap 159 $1.3B 33.2%
Small Cap 37 $738M 18.4%
Micro Cap 39 $99M 2.5%

Portfolio Analytics

Avg Market Cap
$79.3B
Median Market Cap
$9.6B
Avg P/E
31.7
Median P/E
22.7
Avg Dividend Yield
0.01%
Avg Beta
1.06
# Stocks
458
# ETFs / Funds
5

Top Holdings (463 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 PTCT 5.30% 2,801,869 $213M $75.96 $12M -475,403 -14.5%
2 MDGL 3.85% 265,705 $155M $582.34 $100M +145,723 +121.5%
3 IMVT 3.64% 5,747,155 $146M $25.42 $52M -88,845 -1.5%
4 TVTX 3.58% 3,763,891 $144M $38.21 -$17M -2,960,109 -44.0%
5 SUPN 3.42% 2,764,000 $137M $49.70 $2M -72,000 -2.5%
6 NBIX 2.90% 820,240 $116M $141.83 $18M +123,218 +17.7%
7 INCY 2.70% 1,098,102 $108M $98.77 $9M -69,329 -5.9%
8 AMZN 2.11% 367,633 $85M $230.82 $17M +58,233 +18.8%
9 SIRO 2.08% 7,298,000 $83M $11.43 $11M +1,562,000 +27.2%
10 AGIO 2.06% 3,036,000 $83M $27.22 $52M +2,272,000 +297.4%
11 FRPT 1.97% 1,296,000 $79M $60.93 $11M +61,198 +5.0%
12 KVUE 1.72% 3,992,196 $69M $17.25 +3,992,196 NEW
13 GEHC 1.62% 792,000 $65M $82.02 $5M -3,053 -0.4%
14 REGN 1.61% 84,000 $65M $771.87 -$6M -41,206 -32.9%
15 DYN 1.58% 3,249,708 $64M $19.56 $25M +185,708 +6.1%
16 CYTK 1.57% 992,766 $63M $63.54 -$3M -204,102 -17.1%
17 GOOGL 1.53% 196,420 $61M $313.00 $5M -34,261 -14.8%
18 MSFT 1.43% 118,337 $57M $483.62 $12M +31,092 +35.6%
19 IRWD 1.35% 16,025,000 $54M $3.37 $33M -125,000 -0.8%
20 KURA 1.28% 4,936,000 $51M $10.39 $10M +264,000 +5.7%
21 ELF 1.25% 657,983 $50M $76.04 $32M +525,018 +394.9%
22 GSK 1.22% 1,000,000 $49M $49.04 +1,000,000 NEW
23 ARGX 1.21% 58,000 $49M $840.95 $6M
24 BABA 1.17% 319,100 $47M $146.58 $19M +163,100 +104.5%
25 SBUX 1.15% 549,805 $46M $84.21 $16M +193,698 +54.4%
26 PENN 1.14% 3,096,000 $46M $14.75 $5M +992,334 +47.2%
27 OFIX 1.00% 2,648,000 $40M $15.16 $7M +412,000 +18.4%
28 FIVN 1.00% 2,000,000 $40M $20.05 -$8M
29 IRON 0.99% 499,391 $40M $79.41 $11M +63,391 +14.5%
30 IMCR 0.95% 1,098,000 $38M $34.71 $8M +274,000 +33.2%
31 TMO 0.91% 62,838 $36M $579.45 $10M +7,822 +14.2%
32 S 0.90% 2,422,219 $36M $15.00 $17M +1,311,019 +118.0%
33 AVNS 0.90% 3,200,000 $36M $11.23 $7M +700,000 +28.0%
34 RIGL 0.89% 836,000 $36M $42.83 $15M +112,000 +15.5%
35 AUTL 0.87% 17,500,000 $35M $1.99 $9M +1,900,000 +12.2%
36 ISRG 0.86% 61,073 $35M $566.36 $16M +20,073 +49.0%
37 DDOG 0.83% 244,537 $33M $135.99 $4M +42,476 +21.0%
38 VERA 0.82% 653,796 $33M $50.64 $18M +117,796 +22.0%
39 SNY 0.82% 676,000 $33M $48.46 $4M +64,000 +10.5%
40 GTLB 0.80% 858,925 $32M $37.53 $15M +482,067 +127.9%
41 AXGN 0.76% 936,000 $31M $32.73 $9M -264,000 -22.0%
42 ANRO 0.68% 1,536,000 $27M $17.80 $21M -100,000 -6.1%
43 0LOV.L 0.68% 3,536,000 $27M $7.72 $9M +1,440,000 +68.7%
44 HUBS 0.68% 68,000 $27M $401.30 $6M +22,982 +51.0%
45 MDT 0.65% 271,241 $26M $96.06 $792K +5,984 +2.3%
46 GRFS 0.64% 2,768,000 $26M $9.35 $4M +532,000 +23.8%
47 NKTR 0.63% 596,000 $25M $42.28 $10M +328,000 +122.4%
48 NKE 0.63% 394,709 $25M $63.71 $20M +315,616 +399.0%
49 PATH 0.62% 1,524,617 $25M $16.39 $7M +180,333 +13.4%
50 MLYS 0.61% 676,035 $25M $36.29 $5M +168,385 +33.2%
51 DHR 0.61% 107,035 $25M $228.92 $18M +75,477 +239.2%
52 EW 0.59% 277,478 $24M $85.25 $12M +130,907 +89.3%
53 CVS 0.58% 295,589 $23M $79.36 $1M +3,770 +1.3%
54 UBER 0.58% 282,734 $23M $81.71 $11M +162,153 +134.5%
55 BCYC 0.57% 3,236,000 $23M $7.08 -$139K +258,000 +8.7%
56 YNDX 0.56% 267,421 $22M $83.71 -$2M +54,141 +25.4%
57 ANGO 0.54% 1,700,000 $22M $12.84 $4M +64,000 +3.9%
58 DXCM 0.53% 323,052 $21M $66.37 +323,052 NEW
59 ARVN 0.53% 1,800,000 $21M $11.86 $11M +600,000 +50.0%
60 WYNN 0.53% 176,190 $21M $120.33 $6M +59,246 +50.7%
61 MDB 0.51% 49,144 $21M $419.69 -$14M -63,255 -56.3%
62 ENR 0.51% 1,036,000 $21M $19.89 +1,036,000 NEW
63 RH 0.51% 115,000 $21M $179.15 $2M +24,315 +26.8%
64 WDAY 0.50% 93,893 $20M $214.78 $6M +33,001 +54.2%
65 BMY 0.50% 372,466 $20M $53.94 -$9M -277,267 -42.7%
66 ROST 0.50% 111,034 $20M $180.14 $3M -104 -0.1%
67 HRMY 0.47% 500,000 $19M $37.42 +500,000 NEW
68 HUM 0.46% 71,697 $18M $256.13 $5M +20,338 +39.6%
69 RDDT 0.44% 76,600 $18M $229.87 $6M +27,500 +56.0%
70 LYV 0.43% 120,938 $17M $142.50 +120,938 NEW
71 NVO 0.43% 336,000 $17M $50.88 -$24M -400,000 -54.4%
72 CROX 0.41% 190,350 $16M $85.52 $13M +156,870 +468.6%
73 VYGR 0.39% 4,000,000 $16M $3.93 -$4M -200,000 -4.8%
74 TMCI 0.39% 6,364,000 $16M $2.45 -$27M +48,000 +0.8%
75 LEN 0.39% 151,295 $16M $102.80 $6M +72,746 +92.6%
76 TSM 0.38% 50,000 $15M $303.89 -$641K -6,700 -11.8%
77 APP 0.37% 22,262 $15M $673.82 $975K +2,742 +14.1%
78 BILL 0.37% 271,389 $15M $54.54 $8M +152,191 +127.7%
79 DT 0.36% 336,000 $15M $43.34 -$5M -64,000 -16.0%
80 FDMT 0.36% 1,936,000 $15M $7.50 $5M +840,000 +76.6%
81 PRTA 0.36% 1,500,000 $14M $9.55 -$3M -324,000 -17.8%
82 KALV 0.32% 800,000 $13M $16.15 +800,000 NEW
83 BBOT 0.31% 1,000,000 $13M $12.52 $8M +588,000 +142.7%
84 CNTA 0.31% 500,000 $13M $25.01 $3M +122,000 +32.3%
85 NPCE 0.30% 792,000 $12M $15.44 -$1M -506,000 -39.0%
86 NVDA 0.30% 63,955 $12M $186.50 -$2M -12,989 -16.9%
87 ALGN 0.30% 76,104 $12M $156.15 +76,104 NEW
88 NUVB 0.28% 1,263,737 $11M $8.96 $3M -1,032,263 -45.0%
89 BSX 0.27% 114,025 $11M $95.35 $3M +33,802 +42.1%
90 SMPL 0.27% 536,000 $11M $20.08 +536,000 NEW
91 NTLA 0.26% 1,156,000 $10M $8.99 -$1M +484,000 +72.0%
92 MGNX 0.25% 6,324,000 $10M $1.61 $169K +364,000 +6.1%
93 AMD 0.25% 46,703 $10M $214.16 +46,703 NEW
94 ABC 0.24% 28,000 $9M $337.75 $7M +20,967 +298.1%
95 MCK 0.23% 11,363 $9M $820.29 $5M +5,510 +94.1%
96 VRCA 0.23% 1,118,925 $9M $8.31 $7M +479,732 +75.0%
97 SRRK 0.22% 200,000 $9M $44.05 +200,000 NEW
98 ZETA 0.22% 428,229 $9M $20.35 $3M +116,140 +37.2%
99 INGN 0.21% 1,264,000 $8M $6.72 $1M +400,000 +46.3%
100 ORLY 0.21% 91,111 $8M $91.21 $721K +20,715 +29.4%

Options Breakdown

7 Calls $280M Call Value 3 Puts $4.0B Put Value 14.42 P/C Ratio

Top Calls

SymbolSharesValueStatus
CYTK 1,500,000 $95M
AGIO 3,000,000 $82M
S 3,200,000 $48M
FIVN 1,800,000 $36M
IMVT 750,000 $19M NEW
MDGL $0 SOLD
RDDT $0 SOLD

Top Puts

SymbolSharesValueStatus
SPY 3,000,000 $2.0B
IWM 8,100,000 $2.0B
DKNG $0 SOLD

New Positions

SymbolValue% Port
KVUE $69M 1.72%
GSK $49M 1.22%
DXCM $21M 0.53%
ENR $21M 0.51%
HRMY $19M 0.47%
LYV $17M 0.43%
KALV $13M 0.32%
ALGN $12M 0.30%
SMPL $11M 0.27%
AMD $10M 0.25%
SRRK $9M 0.22%
TERN $7M 0.17%
DKS $7M 0.17%
EOLS $6M 0.16%
KYMR $6M 0.16%

Sold Out Positions

SymbolValue% Port
BDX —%
CB —%
ARMK —%
ALSN —%
ARES —%
EMN —%
FLR —%
MTDR —%
HPE —%
BROS —%
AVTR —%
AMT —%
THG —%
NTR —%
DLR —%
View SEC EDGAR Filings for ARMISTICE CAPITAL, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms