# MONTANOVA CAPITAL, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1569064. Source: https://holderbook.com/funds/1569064-montanova-capital-llc/

- Reported value: $5.5B
- Positions: 96
- Weight of the ten largest: 49.1%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $709.4M | 0 | 13.0% | 10 |
| VERADERMICS INC | [MANE](https://holderbook.com/stocks/MANE/) | $512.5M | 4,168,970 | 9.4% | 2 |
| ARCUTIS BIOTHERAPEUTICS INC | [ARQT](https://holderbook.com/stocks/ARQT/) | $326.1M | 12,437,000 | 6.0% | 14 |
| LEGEND BIOTECH CORP | [LEGN](https://holderbook.com/stocks/LEGN/) | $204.2M | 7,070,000 | 3.7% | 7 |
| PALVELLA THERAPEUTICS INC NE | [PVLA](https://holderbook.com/stocks/PVLA/) | $173.5M | 1,135,406 | 3.2% | 7 |
| ARRIVENT BIOPHARMA INC | [AVBP](https://holderbook.com/stocks/AVBP/) | $156.9M | 4,515,531 | 2.9% | 10 |
| BENITEC BIOPHARMA INC | [BNTC](https://holderbook.com/stocks/BNTC/) | $154.5M | 11,548,351 | 2.8% | 12 |
| BIOHAVEN LTD | [BHVN](https://holderbook.com/stocks/BHVN/) | $153.1M | 10,286,937 | 2.8% | 16 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $149.4M | 257,240 | 2.7% | 15 |
| ARCUS BIOSCIENCES INC | [RCUS](https://holderbook.com/stocks/RCUS/) | $147.3M | 4,776,423 | 2.7% | 12 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $145.5M | 304,627 | 2.7% | 11 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $144.2M | 720,609 | 2.6% | 7 |
| EYEPOINT INC | [EYPT](https://holderbook.com/stocks/EYPT/) | $118.6M | 8,296,375 | 2.2% | 22 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $118.0M | 1,411,550 | 2.2% | 3 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $116.0M | 310,262 | 2.1% | 13 |
| IMMATICS N.V | [IMTX](https://holderbook.com/stocks/IMTX/) | $113.4M | 11,190,129 | 2.1% | 7 |
| MGM RESORTS INTERNATIONAL | [MGM](https://holderbook.com/stocks/MGM/) | $111.2M | 2,325,360 | 2.0% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $99.0M | 175,807 | 1.8% | 16 |
| CAPRICOR THERAPEUTICS INC | [CAPR](https://holderbook.com/stocks/CAPR/) | $98.6M | 4,092,784 | 1.8% | 3 |
| KURA ONCOLOGY INC | [KURA](https://holderbook.com/stocks/KURA/) | $94.1M | 8,575,422 | 1.7% | 24 |
| MONTE ROSA THERAPEUTICS INC | [GLUE](https://holderbook.com/stocks/GLUE/) | $85.9M | 3,549,539 | 1.6% | 9 |
| AVALYN PHARMACEUTICALS INC | [AVLN](https://holderbook.com/stocks/AVLN/) | $82.4M | 2,503,109 | 1.5% | 1 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $79.7M | 226,053 | 1.5% | 6 |
| HUT 8 CORP | [HUT](https://holderbook.com/stocks/HUT/) | $77.3M | 670,000 | 1.4% | 1 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $66.8M | 333,098 | 1.2% | 8 |
| VULCAN MATLS CO | [VMC](https://holderbook.com/stocks/VMC/) | $63.4M | 214,978 | 1.2% | 2 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $58.6M | 246,758 | 1.1% | 8 |
| ZURA BIO LTD | [ZURA](https://holderbook.com/stocks/ZURA/) | $55.7M | 9,443,001 | 1.0% | 13 |
| INFLARX NV | [IFRX](https://holderbook.com/stocks/IFRX/) | $51.4M | 22,933,910 | 0.9% | 22 |
| AURA BIOSCIENCES INC | [AURA](https://holderbook.com/stocks/AURA/) | $51.2M | 7,206,217 | 0.9% | 6 |
| FAETH THERAPEUTICS INC | [FTH](https://holderbook.com/stocks/FTH/) | $50.5M | 2,020,103 | 0.9% | 2 |
| ADVISORSHARES TR | [MSOS](https://holderbook.com/stocks/MSOS/) | $49.5M | 9,738,524 | 0.9% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $48.8M | 204,860 | 0.9% | 14 |
| REPLIMUNE GROUP INC | [REPL](https://holderbook.com/stocks/REPL/) | $48.6M | 4,389,836 | 0.9% | 3 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $47.5M | 269,300 | 0.9% | 1 |
| SPOTIFY TECHNOLOGY S A | [SPOT](https://holderbook.com/stocks/SPOT/) | $46.7M | 101,800 | 0.9% | 2 |
| CONTINEUM THERAPEUTICS INC | [CTNM](https://holderbook.com/stocks/CTNM/) | $46.6M | 2,841,334 | 0.9% | 9 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $45.3M | 383,300 | 0.8% | 12 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $45.0M | 789,720 | 0.8% | 6 |
| ROUNDHILL ETF TRUST | - | $44.5M | 603,000 | 0.8% | 1 |
| CRINETICS PHARMACEUTICALS IN | [CRNX](https://holderbook.com/stocks/CRNX/) | $44.4M | 1,186,279 | 0.8% | 2 |
| CEREBRAS SYSTEMS INC | [CBRS](https://holderbook.com/stocks/CBRS/) | $38.0M | 171,900 | 0.7% | 1 |
| DICKS SPORTING GOODS INC | [DKS](https://holderbook.com/stocks/DKS/) | $34.3M | 151,320 | 0.6% | 1 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $31.6M | 83,600 | 0.6% | 1 |
| COMPASS THERAPEUTICS INC | [CMPX](https://holderbook.com/stocks/CMPX/) | $30.9M | 14,101,159 | 0.6% | 5 |
| LEXEO THERAPEUTICS INC | [LXEO](https://holderbook.com/stocks/LXEO/) | $29.7M | 6,384,200 | 0.5% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $26.7M | 64,130 | 0.5% | 27 |
| PROKIDNEY CORP | [PROK](https://holderbook.com/stocks/PROK/) | $25.2M | 12,341,266 | 0.5% | 4 |
| WHITEHAWK THERAPEUTICS INC | [WHWK](https://holderbook.com/stocks/WHWK/) | $19.7M | 4,300,000 | 0.4% | 6 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $17.3M | 101,200 | 0.3% | 1 |
| MARTIN MARIETTA MATLS INC | [MLM](https://holderbook.com/stocks/MLM/) | $15.0M | 26,000 | 0.3% | 1 |
| FULCRUM THERAPEUTICS INC | [FULC](https://holderbook.com/stocks/FULC/) | $13.5M | 3,680,921 | 0.2% | 22 |
| PLANET FITNESS MASTER ISSUER | [PLNT](https://holderbook.com/stocks/PLNT/) | $11.5M | 219,910 | 0.2% | 1 |
| BLOOM ENERGY CORP | [BE](https://holderbook.com/stocks/BE/) | $10.2M | 33,800 | 0.2% | 1 |
| KARDIGAN INC | [KARD](https://holderbook.com/stocks/KARD/) | $9.5M | 400,000 | 0.2% | 1 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $8.7M | 84,500 | 0.2% | 1 |
| MOLECULAR PARTNERS AG | [MOLN](https://holderbook.com/stocks/MOLN/) | $8.6M | 2,221,494 | 0.2% | 21 |
| ANTERIS TECHNOLOGIES GLOBAL | [AVR](https://holderbook.com/stocks/AVR/) | $8.4M | 850,000 | 0.2% | 2 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $6.9M | 101,980 | 0.1% | 14 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $6.7M | 13,400 | 0.1% | 20 |
| CENTENE CORP DEL | [CNC](https://holderbook.com/stocks/CNC/) | $6.4M | 99,100 | 0.1% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $6.1M | 66,920 | 0.1% | 15 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $6.0M | 140,083 | 0.1% | 15 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $5.4M | 13,600 | 0.1% | 15 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $5.1M | 26,600 | 0.1% | 19 |
| MINERALYS THERAPEUTICS INC | [MLYS](https://holderbook.com/stocks/MLYS/) | $4.7M | 173,886 | 0.1% | 6 |
| CELLDEX THERAPEUTICS INC NEW | [CLDX](https://holderbook.com/stocks/CLDX/) | $4.5M | 121,297 | 0.1% | 1 |
| SATELLOS BIOSCIENCE INC | [MSLE](https://holderbook.com/stocks/MSLE/) | $3.7M | 475,000 | 0.1% | 2 |
| CENCORA INC | [COR](https://holderbook.com/stocks/COR/) | $3.5M | 12,488 | 0.1% | 22 |
| TRULIEVE CANNABIS CORP | [TRLV](https://holderbook.com/stocks/TRLV/) | $3.5M | 356,100 | 0.1% | 1 |
| ABEONA THERAPEUTICS INC | [ABEO](https://holderbook.com/stocks/ABEO/) | $3.1M | 500,000 | 0.1% | 9 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $2.7M | 10,100 | 0.1% | 15 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.0M | 7,700 | 0.0% | 15 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $1.9M | 4,302 | 0.0% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $1.9M | 4,970 | 0.0% | 12 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $1.8M | 5,860 | 0.0% | 15 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $1.7M | 18,700 | 0.0% | 10 |
| MEDLINE INC | [MDLN](https://holderbook.com/stocks/MDLN/) | $1.7M | 42,500 | 0.0% | 3 |
| PERFORMANCE FOOD GROUP CO | [PFGC](https://holderbook.com/stocks/PFGC/) | $1.6M | 14,710 | 0.0% | 2 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $1.4M | 5,600 | 0.0% | 1 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $1.4M | 7,175 | 0.0% | 26 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.4M | 1,830 | 0.0% | 18 |
| HCA HEALTHCARE INC | [HCA](https://holderbook.com/stocks/HCA/) | $1.2M | 3,190 | 0.0% | 10 |
| WATERS CORP | [WAT](https://holderbook.com/stocks/WAT/) | $1.2M | 3,225 | 0.0% | 15 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.2M | 3,400 | 0.0% | 1 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $1.0M | 770 | 0.0% | 2 |
| IONIS PHARMACEUTICALS INC | [IONS](https://holderbook.com/stocks/IONS/) | $856.3K | 10,800 | 0.0% | 10 |
| US FOODS HLDG CORP | [USFD](https://holderbook.com/stocks/USFD/) | $707.6K | 6,920 | 0.0% | 2 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $662.8K | 4,990 | 0.0% | 14 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $485.5K | 5,475 | 0.0% | 11 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $465.8K | 2,390 | 0.0% | 10 |
| STERIS PLC | [STE](https://holderbook.com/stocks/STE/) | $322.2K | 1,530 | 0.0% | 10 |
| SAREPTA THERAPEUTICS INC | [SRPT](https://holderbook.com/stocks/SRPT/) | $321.4K | 17,888 | 0.0% | 7 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $280.7K | 3,260 | 0.0% | 10 |
| CHARLES RIV LABS INTL INC | [CRL](https://holderbook.com/stocks/CRL/) | $229.1K | 1,010 | 0.0% | 1 |
| INMED PHARMACEUTICALS INC | [INM](https://holderbook.com/stocks/INM/) | $155.0K | 100,000 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +27.2% | +14.8% | +12.4% | 93% |
| Q1 2026 | -2.9% | -4.6% | +1.7% | 100% |
| Q4 2025 | +13.0% | +2.4% | +10.6% | 96% |
| Q3 2025 | +19.4% | +7.8% | +11.6% | 97% |
| Q2 2025 | +7.6% | +10.5% | -2.9% | 100% |
| Q1 2025 | -7.2% | -4.6% | -2.7% | 100% |
| Q4 2024 | -4.6% | +2.1% | -6.7% | 100% |
| Q3 2024 | +11.2% | +5.4% | +5.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.5B | 96 |
| Q1 2026 | $3.9B | 89 |
| Q4 2025 | $4.9B | 93 |
| Q3 2025 | $3.9B | 92 |
| Q2 2025 | $3.3B | 97 |
| Q1 2025 | $2.7B | 100 |
| Q4 2024 | $2.9B | 96 |
| Q3 2024 | $3.1B | 98 |
| Q2 2024 | $2.7B | 98 |
| Q1 2024 | $2.7B | 101 |
| Q4 2023 | $2.2B | 88 |
| Q3 2023 | $1.9B | 87 |