Cutter Capital Management, LP
CIK 1983313 · View on SEC EDGAR ↗
- Portfolio value
- $229.6M
- Positions
- 21
- As of
- March 31, 2025 Data as of Q1 2025
#6,002 of 9,443 by 13F value · top 63.6%
Portfolio value QoQ: -5.9% 13F does not disclose cash
- Top 10 holdings weight
- 62.84%
- Top 25 holdings weight
- 100.00%
- Positions above 1%
- 21
- Effective number of positions
- 18.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q1 2025: 54.32% Est. buys $128,647,416 · sells $145,565,294
- New positions
- 10
- Increased
- 5
- Decreased
- 6
- Closed
- 10
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 100.0% · Options excluded: 0.0%
Sector breakdown
Healthcare
100.0%
Full portfolio 21 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| BMY Bristol-Myers Squibb Company Common Stock | $17,992,050 | 7.83% | 295,000 | Up ×1 | |||
| AMGN Amgen Inc. - Common Stock | $15,577,500 | 6.78% | 50,000 | $5,649,722 | Up ×1 | ||
| BIIB Biogen Inc. - Common Stock | $15,531,340 | 6.76% | 113,500 | Up ×1 | |||
| LLY Eli Lilly and Company Common Stock | $14,866,380 | 6.47% | 18,000 | Up ×1 | |||
| INSM Insmed Incorporated - Common Stock | $14,219,235 | 6.19% | 186,384 | $-340,196 | Down ×1 | ||
| RARE Ultragenyx Pharmaceutical Inc. - Common Stock | $13,734,562 | 5.98% | 379,303 | $-3,379,640 | Down ×1 | ||
| BBIO BridgeBio Pharma, Inc. - Common Stock | $13,504,563 | 5.88% | 390,644 | $-1,871,276 | Down ×1 | ||
| PRGO Perrigo Company plc Ordinary Shares | $13,445,657 | 5.85% | 479,517 | $5,873,625 | Up ×1 | ||
| ROIV Roivant Sciences Ltd. - Common Shares | $13,117,000 | 5.71% | 1,300,000 | Up ×1 | |||
| TEVA Teva Pharmaceutical Industries Limited American Depositary Shares | $12,323,758 | 5.37% | 801,806 | $-567,063 | Up ×1 | ||
| RPRX Royalty Pharma plc - Class A Ordinary Shares | $11,110,110 | 4.84% | 356,894 | $-8,401,443 | Down ×1 | ||
| TARS Tarsus Pharmaceuticals, Inc. - Common Stock | $10,530,850 | 4.59% | 205,000 | $4,301,725 | Up ×1 | ||
| VRNA Verona Pharma plc - American Depositary Shares | $10,158,400 | 4.42% | 160,000 | Up ×1 | |||
| MDGL Madrigal Pharmaceuticals, Inc. - Common Stock | $7,949,520 | 3.46% | 24,000 | Up ×1 | |||
| SMMT Summit Therapeutics Inc. - Common Stock | $7,716,000 | 3.36% | 400,000 | Up ×1 | |||
| HALO Halozyme Therapeutics, Inc. - Common Stock | $7,657,200 | 3.33% | 120,000 | Up ×1 | |||
| CYTK Cytokinetics, Incorporated - Common Stock | $7,033,250 | 3.06% | 175,000 | Up ×1 | |||
| AGIO Agios Pharmaceuticals, Inc. - Common Stock | $6,895,755 | 3.00% | 235,350 | $-3,015,577 | Down ×1 | ||
| CNTA Centessa Pharmaceuticals plc - American Depositary Shares | $6,012,666 | 2.62% | 418,127 | $3,549,143 | Up ×1 | ||
| RCUS Arcus Biosciences, Inc. Common Stock | $5,744,771 | 2.50% | 731,818 | Up ×1 | |||
| NAMS NewAmsterdam Pharma Company N.V. - Ordinary Shares | $4,526,981 | 1.97% | 221,152 | $-4,137,825 | Down ×1 | ||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| BMY | $17,992,050 | 295,000 | 7.83% |
| BIIB | $15,531,340 | 113,500 | 6.76% |
| LLY | $14,866,380 | 18,000 | 6.47% |
| ROIV | $13,117,000 | 1,300,000 | 5.71% |
| VRNA | $10,158,400 | 160,000 | 4.42% |
| MDGL | $7,949,520 | 24,000 | 3.46% |
| SMMT | $7,716,000 | 400,000 | 3.36% |
| HALO | $7,657,200 | 120,000 | 3.33% |
| CYTK | $7,033,250 | 175,000 | 3.06% |
| RCUS | $5,744,771 | 731,818 | 2.50% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| RPRX | Trimmed | -408K | -$8.4M |
| PRGO | Bought more | +185K | +$5.9M |
| AMGN | Bought more | +12K | +$5.6M |
| TARS | Bought more | +92K | +$4.3M |
| NAMS | Trimmed | -116K | -$4.1M |
| CNTA | Bought more | +271K | +$3.5M |
| RARE | Trimmed | -28K | -$3.4M |
| AGIO | Trimmed | -66K | -$3.0M |
| BBIO | Trimmed | -170K | -$1.9M |
| TEVA | Bought more | +217K | -$567K |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| REGN | March 31, 2025 | 31,500 | $22,438,395 | 32.1% |
| JNJ | March 31, 2025 | 141,572 | $20,474,143 | 61.1% |
| ABBV | March 31, 2025 | 101,996 | $18,124,689 | 25.9% |
| SRPT | March 31, 2025 | 124,256 | $15,108,287 | -69.4% |
| VRDN | March 31, 2025 | 628,677 | $12,051,738 | 82.6% |
| VERA | March 31, 2025 | 212,696 | $8,994,914 | 31.8% |
| MRNA | March 31, 2025 | 197,500 | $8,212,050 | 404.8% |
| JANX | March 31, 2025 | 120,000 | $6,424,800 | -34.9% |
| AKRO | March 31, 2025 | 230,000 | $6,398,600 | No longer tracked |
| NMRA | March 31, 2025 | 150,000 | $1,590,000 | 55.5% |