13F Insight
DOSSIER · 13F-HR · Q2 2026

Omega Fund Management, LLC

$186M in tracked AUM across 10 positions as of Q2 2026.

OF
CIK 0001637359 · last filed Jun 30, 2026
Total AUM
$186M
as of Q2 2026
Holdings
10
—
positions
Whale Score
71
71
strong
Activity
—
no data
changes this Q
AI Analysis · Q2 2026

Based on the SEC 13F filing data provided for Omega Fund Management, LLC as of September 30, 2025, here is a comprehensive analysis of the portfolio's composition, activity, and strategic orientation.

1. Portfolio Overview

Omega Fund Management, LLC manages a concentrated, high-conviction portfolio totaling approximately $143.86 million across just 8 holdings. The portfolio is characterized by extreme concentration, with the top four positions accounting for roughly 94% of the total assets ...

During the quarter, the firm executed a significant rotation, resulting in a 6.9% decrease in total portfolio value (from $154.44M to $143.86M). This contraction was driven not only by market performance but also by substantial divestment; the firm exited 6 positions and reduced 5 others. The activity level was high, indicating a dynamic approach to capital allocation where the firm actively trims or liquidates positions to reallocate resources or manage risk.

2. Key Holdings

The portfolio is heavily weighted toward a select group of companies, implying strong conviction in their specific clinical or commercial prospects:

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
BCAX
Bicara Therapeutics Inc.
$54M1.8M29.1%02
NUVB
Nuvation Bio Inc.
$46M8.1M24.7%03
G52441105
Kestra Med Technologies Ltd
$26M1.0M14.0%04
BBOT
BridgeBio Oncology Therapeutics Inc.
$25M3.3M13.5%05
BBNX
Beta Bionics Inc.
$21M1.3M11.1%06
ALMS
Alumis Inc.
$7M241K3.7%07
SANA
Sana Biotechnology, Inc.
$3M844K1.6%08
IMA
ImageneBio, Inc.
$3M455K1.4%09
ENGN
enGene Holdings Inc.
$2M876K0.8%10
ODTX
Odyssey Therapeutics Inc.
$54K3K0.0%

Filing history

2026Q2Jun 30
$186M▲ 13.8%
10 positionsView →2026Q1Mar 31
$163M▼ 43.1%
10 positionsView →2025Q4Dec 31
$287M▲ 99.2%
11 positionsView →2025Q3Sep 30
$144M▼ 6.9%
8 positionsView →2025Q2Jun 30
$154M▲ 14.1%
13 positionsLocked2025Q1Mar 31
$135M▲ 12.1%
10 positionsLocked2024Q4Dec 31
$121M▼ 24.6%
11 positionsLocked2024Q3Sep 30
$160M▲ 18.5%
11 positionsLocked2024Q2Jun 30
$135M▼ 12.9%
11 positionsLocked2024Q1Mar 31
$155M▲ 25.6%
11 positionsLocked2023Q4Dec 31
$123M▲ 13.4%
14 positionsLocked2023Q3Sep 30
$109M▼ 39.0%
12 positionsLocked
Showing 12 of 43