Cutter Capital Management, LP
Filing Date
Global Rank
#3,652
/ 7,988
▼ 58
· as of Mar 2025
Top Industry
Biotechnology
59.1%
3Y Alpha vs SPY
+0.7%
Period ended 1 year ago
Filed May 15, 2025 · 1y
6 quarters · since Dec 2023
Clone Performance
Feb 2024–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+56.5%
SPY
+53.6%
Annualised alpha
+0.9%
Max drawdown
−26.0%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
20 positions · as of Mar 31, 2025 · Δ vs Dec 31, 2024Top Position
8.2%
−1.3 pts
Top 5
35.6%
−5.8 pts
Top 10
65.7%
−5.3 pts
HHI
562
Diversified−62
Portfolio Trend
6 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $219,489,146 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CNTA | Centessa Pharmaceuticals plc | +271,051 | 418,127 | $6,012,666 | |
| TEVA | Teva Pharmaceutical Industries Ltd | +216,923 | 801,806 | $12,323,758 | |
| PRGO | PERRIGO Co plc | +185,000 | 479,517 | $13,445,656 | |
| TARS | Tarsus Pharmaceuticals, Inc. | +92,500 | 205,000 | $10,530,850 | |
| AMGN | Amgen Inc | +11,910 | 50,000 | $15,577,500 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
6 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| RPRX | Royalty Pharma plc | −407,965 | 356,894 | $11,110,110 | |
| BBIO | BridgeBio Pharma, Inc. | −169,700 | 390,644 | $13,504,563 | |
| NAMS | NewAmsterdam Pharma Co N.V. | −116,000 | 221,152 | $4,526,981 | |
| AGIO | Agios Pharmaceuticals, Inc. | −66,273 | 235,350 | $6,895,755 | |
| RARE | Ultragenyx Pharmaceutical Inc. | −27,500 | 379,303 | $13,734,561 | |
| INSM | INSMED Inc | −24,500 | 186,384 | $14,219,235 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
9 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| BMY | Bristol Myers Squibb Co | 295,000 | $17,992,050 | |
| BIIB | Biogen Inc. | 113,500 | $15,531,340 | |
| LLY | ELI LILLY & Co | 18,000 | $14,866,380 | |
| ROIV | Roivant Sciences Ltd. | 1,300,000 | $13,117,000 | |
| MDGL | Madrigal Pharmaceuticals, Inc. | 24,000 | $7,949,520 | |
| SMMT | Summit Therapeutics Inc. | 400,000 | $7,716,000 | |
| HALO | Halozyme Therapeutics, Inc. | 120,000 | $7,657,200 | |
| CYTK | Cytokinetics Inc | 175,000 | $7,033,250 | |
| RCUS | Arcus Biosciences, Inc. | 731,818 | $5,744,771 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
8 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| REGN | Regeneron Pharmaceuticals, Inc. | 31,500 | $22,438,395 | |
| JNJ | Johnson & Johnson | 141,572 | $20,474,142 | |
| ABBV | AbbVie Inc. | 101,996 | $18,124,689 | |
| SRPT | Sarepta Therapeutics, Inc. | 124,256 | $15,108,287 | |
| VRDN | Viridian Therapeutics, Inc.\DE | 628,677 | $12,051,738 | |
| VERA | Vera Therapeutics, Inc. | 212,696 | $8,994,913 | |
| MRNA | Moderna, Inc. | 197,500 | $8,212,050 | |
| JANX | Janux Therapeutics, Inc. | 120,000 | $6,424,800 | |
| No positions match the current search. | ||||
20 positions ·
$219,489,146 total
· as of Mar 31, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| BMY |
Bristol Myers Squibb Co
Healthcare
|
NEW | 295,000 | $17,992,050 | 8.20% | |
| AMGN |
Amgen Inc
Healthcare
|
Added | 50,000 | $15,577,500 | 7.10% | |
| BIIB |
Biogen Inc.
Healthcare
|
NEW | 113,500 | $15,531,340 | 7.08% | |
| LLY |
ELI LILLY & Co
Healthcare
|
NEW | 18,000 | $14,866,380 | 6.77% | |
| INSM |
INSMED Inc
Healthcare
|
Reduced | 186,384 | $14,219,235 | 6.48% | |
| RARE |
Ultragenyx Pharmaceutical Inc.
Healthcare
|
Reduced | 379,303 | $13,734,561 | 6.26% | |
| BBIO |
BridgeBio Pharma, Inc.
Healthcare
|
Reduced | 390,644 | $13,504,563 | 6.15% | |
| PRGO |
PERRIGO Co plc
Healthcare
|
Added | 479,517 | $13,445,656 | 6.13% | |
| ROIV |
Roivant Sciences Ltd.
Healthcare
|
NEW | 1,300,000 | $13,117,000 | 5.98% | |
| TEVA |
Teva Pharmaceutical Industries Ltd
Healthcare
|
Added | 801,806 | $12,323,758 | 5.61% | |
| RPRX |
Royalty Pharma plc
Healthcare
|
Reduced | 356,894 | $11,110,110 | 5.06% | |
| TARS |
Tarsus Pharmaceuticals, Inc.
Healthcare
|
Added | 205,000 | $10,530,850 | 4.80% | |
| MDGL |
Madrigal Pharmaceuticals, Inc.
Healthcare
|
NEW | 24,000 | $7,949,520 | 3.62% | |
| SMMT |
Summit Therapeutics Inc.
Healthcare
|
NEW | 400,000 | $7,716,000 | 3.52% | |
| HALO |
Halozyme Therapeutics, Inc.
Healthcare
|
NEW | 120,000 | $7,657,200 | 3.49% | |
| CYTK |
Cytokinetics Inc
Healthcare
|
NEW | 175,000 | $7,033,250 | 3.20% | |
| AGIO |
Agios Pharmaceuticals, Inc.
Healthcare
|
Reduced | 235,350 | $6,895,755 | 3.14% | |
| CNTA |
Centessa Pharmaceuticals plc
Healthcare
|
Added | 418,127 | $6,012,666 | 2.74% | |
| RCUS |
Arcus Biosciences, Inc.
Healthcare
|
NEW | 731,818 | $5,744,771 | 2.62% | |
| NAMS |
NewAmsterdam Pharma Co N.V.
Healthcare
|
Reduced | 221,152 | $4,526,981 | 2.06% |