Logos Global Management LP

2. Key Holdings

The portfolio exhibits a "barbell" structure where a small number of positions command significant capital allocation, while the tail consists of smaller, experimental positions.

• Top Conviction: The largest holding, REVOLUTION MEDICINES INC (RVMD), represents a massive 14.38% of the total portfolio ($128.43M). This is an exceptionally high concentration for institutional fund management, signaling extreme confidence in the company's prospects. The firm aggressively increased this position by 61.8% during the quarter, adding $65.88M.
• Core Positions: The next three largest holdings—IDEAYA BIOSCIENCES INC (IDYA) (8.22%), AKERO THERAPEUTICS INC (AKRO) (6.38%), and ARVINAS INC (ARVN) (5.32%)—are all prominent players in the biotechnology space. These top four positions alone account for roughly 34.3% of the entire portfolio's value.
• Position Sizing: The portfolio weightings drop steadily after the top ten. While the top position is over 14%, positions 20 through 40 range between 2.2% and near zero. This suggests a strategy of backing winners with significant capital while maintaining a "watchlist" of smaller positions.