PSP Research LLC
PSP Research LLC reported 44 US-listed holdings worth $145.8 million in its 13F for the quarter ended 30 September 2026, filed 21 October 2026. Its largest: iShares Trust (48.3%), SPDR Ser Trust (41.8%) and Sera Prognostics Inc. (3.4%). Against the quarter before, it opened 1 position, added to 0, trimmed 27 and sold out of 32.
The 14 largest of its 44 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +10.8% over the 3 quarters to 30 September 2026, against +11.8% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 1
- Sera Prognostics Inc. SERA$5.0 million
Trimmed 27
- SPDR Ser Trust XBI-183,500 shares · -32%
- Halozyme Therapeutics, Inc. HALO-4,000 shares · -57%
- Incyte Corp. INCY-3,300 shares · -62%
- Royalty Pharma PLC RPRX-6,000 shares · -55%
- argenx SE ARGX-341 shares · -53%
- Nurix Therapeutics Inc. NRIX-13,000 shares · -52%
- TG Therapeutics, Inc. TGTX-5,000 shares · -50%
- Tarsus Pharmaceuticals Inc. TARS-3,500 shares · -50%
and 19 more in the table below
Sold out of 32
- Disc Medicine Inc. IRON$585,120 last quarter
- Rapport Therapeutics Inc. RAPP$583,380 last quarter
- Ultragenyx Pharmaceutical in RARE$567,630 last quarter
- Monte Rosa Therapeutics Inc. GLUE$556,600 last quarter
- Ionis Pharmaceuticals Inc. IONS$539,172 last quarter
- Pharvaris N V PHVS$518,700 last quarter
- Acadia Pharmaceuticals Inc. ACAD$500,080 last quarter
- PTC Therapeutics, Inc. PTCT$489,420 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| iShares Trust SGOV | 700.0K | $70.5 million | 48.33% | no change |
| SPDR Ser Trust XBI | 386.5K | $60.9 million | 41.79% | -183.5K |
| Sera Prognostics Inc. SERA | 2.4M | $5.0 million | 3.43% | new |
| Halozyme Therapeutics, Inc. HALO | 3.0K | $331,200 | 0.23% | -4.0K |
| Madrigal Pharmaceuticals Inc. MDGL | 600 | $302,376 | 0.21% | no change |
| Exelixis, Inc. EXEL | 5.0K | $292,050 | 0.20% | -3.0K |
| Royalty Pharma PLC RPRX | 5.0K | $291,800 | 0.20% | -6.0K |
| argenx SE ARGX | 300 | $287,673 | 0.20% | -341 |
| Nurix Therapeutics Inc. NRIX | 12.0K | $284,520 | 0.20% | -13.0K |
| TG Therapeutics, Inc. TGTX | 5.0K | $278,900 | 0.19% | -5.0K |
| Tarsus Pharmaceuticals Inc. TARS | 3.5K | $275,135 | 0.19% | -3.5K |
| Harmony Biosciences Holdings, Inc. HRMY | 7.0K | $274,820 | 0.19% | -3.0K |
| Arcutis Biotherapeutics Inc. ARQT | 10.0K | $264,300 | 0.18% | -9.7K |
| Kiniksa Pharmaceuticals Intl KNSA | 3.5K | $261,135 | 0.18% | -1.5K |
| Supernus Pharmaceuticals, Inc. SUPN | 6.0K | $258,240 | 0.18% | no change |
| Immunome Inc. IMNM | 12.0K | $258,120 | 0.18% | -6.0K |
| Neurocrine Biosciences Inc. NBIX | 1.8K | $255,312 | 0.18% | -1.2K |
| Oruka Therapeutics Inc. ORKA | 3.0K | $249,870 | 0.17% | no change |
| Tango Therapeutics Inc. TNGX | 10.0K | $249,500 | 0.17% | no change |
| Definium Therapeutics Inc. DFTX | 6.5K | $247,390 | 0.17% | -3.5K |
| Revolution Medicines, Inc. RVMD | 1.2K | $246,312 | 0.17% | no change |
| Alkermes plc. ALKS | 6.0K | $243,120 | 0.17% | no change |
| Aurinia Pharmaceuticals Inc. AUPH | 15.0K | $242,925 | 0.17% | -15.0K |
| Incyte Corp. INCY | 2.0K | $242,700 | 0.17% | -3.3K |
| Intellia Therapeutics Inc. NTLA | 20.0K | $241,200 | 0.17% | no change |
| Immunovant Inc. IMVT | 7.0K | $236,460 | 0.16% | -6.0K |
| Stoke Therapeutics Inc. STOK | 9.0K | $234,000 | 0.16% | -3.0K |
| Krystal Biotech, Inc. KRYS | 692 | $230,132 | 0.16% | no change |
| Ascendis Pharma A/s ASND | 1.0K | $227,830 | 0.16% | -500 |
| Syndax Pharmaceuticals Inc. SNDX | 12.0K | $225,600 | 0.15% | -8.0K |
| Kymera Therapeutics Inc. KYMR | 2.0K | $223,580 | 0.15% | -2.0K |
| Dianthus Therapeutics Inc. DNTH | 2.5K | $220,125 | 0.15% | no change |
| Trevi Therapeutics Inc. TRVI | 15.0K | $214,800 | 0.15% | -15.0K |
| Mirum Pharmaceuticals Inc. MIRM | 2.5K | $213,700 | 0.15% | no change |
| Immunocore Hldgs PLC IMCR | 7.0K | $212,030 | 0.15% | -8.1K |
| Protagonist Therapeutics, Inc. PTGX | 1.5K | $211,335 | 0.14% | -1.5K |
| Edgewise Therapeutics Inc. EWTX | 5.0K | $203,000 | 0.14% | no change |
| Oric Pharmaceuticals Inc. ORIC | 13.0K | $175,110 | 0.12% | no change |
| Dyne Therapeutics Inc. DYN | 10.0K | $161,100 | 0.11% | -10.0K |
| Compass Pathways PLC CMPS | 10.0K | $124,400 | 0.09% | -8.0K |
| Ocular Therapeutix Inc. OCUL | 15.0K | $115,050 | 0.08% | no change |
| Cytomx Therapeutics Inc. CTMX | 39.4K | $107,168 | 0.07% | no change |
| Ardelyx Inc. ARDX | 30.0K | $102,600 | 0.07% | -30.0K |
| Olema Pharmaceuticals Inc. OLMA | 10.0K | $86,400 | 0.06% | no change |