Saturn V Capital Management LP

2. Key Holdings

The portfolio is dominated by mid-cap healthcare and biotechnology names, with the top five positions accounting for 59.42% of the total portfolio value.

• ABIVAX SA (ABVX) is the largest holding, comprising 17.34% of the portfolio ($68.02M). This represents a massive concentration of risk in a single name, implying high conviction in the company's clinical pipeline or commercial trajectory.
• Amylyx Pharmaceuticals Inc is the second-largest position at 15.95% ($62.58M). The firm significantly increased this stake during the quarter (adding $41.68M), suggesting a strong belief in the company's value proposition despite potential market volatility surrounding its key drug, Relyvrio.
• Jazz Pharmaceuticals PLC (JAZZ) represents 10.10% ($39.62M). Unlike the earlier-stage biotech names, Jazz offers a more established commercial footprint, providing the portfolio with a mix of growth and potentially more stable revenue.
• Dyne Therapeutics Inc (DYN) and Cogent Biosciences Inc (COGT) round out the top five, with allocations of 8.62% and 7.41%, respectively.