Cutter Capital Management, LP

CIK

1983313

Location

NEW YORK, NY

Portfolio Value

Small $219,489,146

Diversification

Diversified

Filing Date

Global Rank

#5,151 / 8,136 ▼ 199 · as of Mar 2025

Top Industry

Biotechnology 59.1%

3Y Alpha vs SPY

-7.5%

Period ended 1 year ago

Filed May 15, 2025 · 1y

6 quarters · since Dec 2023

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2025, never from the firm's own description.

Style

Concentrated

The top 10 positions are 65.7% of the book (60%+)

Turnover

High turnover

191.5% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 2.5 quarters (under 4)

Closest benchmark: the Dow Jones Industrial Average as of 2025-04-30, active share 95.6%; sector active share 89.4% against the combined 13F book's sector weights.

Over time 6 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

20 tracked positions · as of Mar 31, 2025 · Δ vs Dec 31, 2024

Top Position

8.2%

−1.0 pts

Top 5

35.6%

−4.4 pts

Top 10

65.7%

−2.9 pts

HHI

562

Diversified−29

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2025

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$219,489,146	20

Last Quarter's Activity

Export CSV

Mar 31, 2025 vs Dec 31, 2024

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
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
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
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

10 positions

Ticker	Company	Shares	Value
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
—		230,000	$6,398,600
NMRA	Neumora Therapeutics, Inc.	150,000	$1,590,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

20 tracked positions · $219,489,146 total · filing declares 21 positions · $229,647,548 · as of Mar 31, 2025

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BMY	Bristol Myers Squibb Co Healthcare	NEW	295,000	NEW	$17,992,050	NEW	1	$58.29	8.20%
AMGN	Amgen Inc Healthcare	Added	50,000	+11,910	$15,577,500	+56.9%	2	$296.36	7.10%
BIIB	Biogen Inc. Healthcare	NEW	113,500	NEW	$15,531,340	NEW	1	$142.96	7.08%
LLY	ELI LILLY & Co Healthcare	NEW	18,000	NEW	$14,866,380	NEW	1	$832.09	6.77%
INSM	INSMED Inc Healthcare	Reduced	186,384	-24,500	$14,219,235	−2.3%	6	before history	6.48%
RARE	Ultragenyx Pharmaceutical Inc. Healthcare	Reduced	379,303	-27,500	$13,734,561	−19.7%	4	$44.74	6.26%
BBIO	BridgeBio Pharma, Inc. Healthcare	Reduced	390,644	-169,700	$13,504,563	−12.2%	4	$26.74	6.15%
PRGO	PERRIGO Co plc Healthcare	Added	479,517	+185,000	$13,445,656	+77.6%	6	before history	6.13%
ROIV	Roivant Sciences Ltd. Healthcare	NEW	1,300,000	NEW	$13,117,000	NEW	1	$10.81	5.98%
TEVA	Teva Pharmaceutical Industries Ltd Healthcare	Added	801,806	+216,923	$12,323,758	−4.4%	2	$18.10	5.61%
RPRX	Royalty Pharma plc Healthcare	Reduced	356,894	-407,965	$11,110,110	−43.1%	6	before history	5.06%
TARS	Tarsus Pharmaceuticals, Inc. Healthcare	Added	205,000	+92,500	$10,530,850	+69.1%	2	$47.23	4.80%
MDGL	Madrigal Pharmaceuticals, Inc. Healthcare	NEW	24,000	NEW	$7,949,520	NEW	1	$328.59	3.62%
SMMT	Summit Therapeutics Inc. Healthcare	NEW	400,000	NEW	$7,716,000	NEW	1	$20.06	3.52%
HALO	Halozyme Therapeutics, Inc. Healthcare	NEW	120,000	NEW	$7,657,200	NEW	1	$58.09	3.49%
CYTK	Cytokinetics Inc Healthcare	NEW	175,000	NEW	$7,033,250	NEW	1	$45.96	3.20%
AGIO	Agios Pharmaceuticals, Inc. Healthcare	Reduced	235,350	-66,273	$6,895,755	−30.4%	3	$46.01	3.14%
CNTA	Centessa Pharmaceuticals plc Healthcare	Added	418,127	+271,051	$6,012,666	+144.1%	2	unpriced	2.74%
RCUS	Arcus Biosciences, Inc. Healthcare	NEW	731,818	NEW	$5,744,771	NEW	1	$11.59	2.62%
NAMS	NewAmsterdam Pharma Co N.V. Healthcare	Reduced	221,152	-116,000	$4,526,981	−47.8%	2	$21.24	2.06%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.