GREAT POINT PARTNERS LLC

The portfolio is highly concentrated, with the top 10 positions accounting for approximately 80% of total assets. The average position size is roughly 9.0%, indicating a willingness to take on idiosyncratic risk in exchange for potential upside. The presence of only one derivative position—a put option representing 0.37% of the portfolio—suggests the firm primarily relies on fundamental long-equity selection rather than complex hedging strategies.

2. Key Holdings

The portfolio is dominated by small-cap and mid-cap biotechnology and pharmaceutical companies, reflecting a specialized focus on clinical-stage healthcare.