Lynx1 Capital Management LP

Hedge Fund • Sector

Lynx1 Capital Management LP is a Sector-focused Hedge Fund based in San Juan, PR led by Weston Agnew Nichols, managing $491.3M across 14 long positions as of Q3 2025 with 100% Healthcare concentration, 99% concentrated in top 10 holdings, and 29% allocation to MRUS.

CIOWeston Agnew Nichols

Portfolio Value: $491.3M
Positions: 14
Top Holding: MRUS at 29.4%
Last Reported: Q3 2025

Address151 Calle De San Francisco, Suite 200 Pmb 1237, San Juan, PR, 00901, United States

Top Holdings

Largest long holdings in Lynx1 Capital Management LP's portfolio (98.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Merus N.V. MRUS	Biotechnology Healthcare	$144.4M	29.40%	-$3.3M Sold	2.02% 1.5M shares	Q4 2021 Held for 3y 11m
2 Stoke Therapeutics, Inc. STOK	Biotechnology Healthcare	$109.9M	22.37%	—	9.86% 5.4M shares	Q3 2023 Held for 2y 2m
3 GH Research GHRS	Biotechnology Healthcare	$104.3M	21.23%	+$22.5M Bought	13.87% 8.6M shares	Q2 2023 Held for 2y 5m
4 Protagonist Therapeutics PTGX	Biotechnology Healthcare	$46.5M	9.47%	-$2.2M Sold	1.13% 700.0K shares	Q1 2025 Held for 8 months
5 Cullinan Therapeutics, Inc. CGEM	Biotechnology Healthcare	$34.2M	6.96%	+$8.1M Bought	9.76% 5.8M shares	Q2 2024 Held for 1y 5m
6 C4 Therapeutics CCCC	Biotechnology Healthcare	$15.8M	3.21%	—	9.97% 7.1M shares	Q3 2023 Held for 2y 2m
7 TScan Therapeutics, Inc. TCRX	Biotechnology Healthcare	$14.3M	2.91%	—	13.85% 7.9M shares	Q2 2023 Held for 2y 5m
8 Precision BioSciences, Inc. DTIL	Biotechnology Healthcare	$5.8M	1.17%	+$36.1K Bought	8.85% 1.0M shares	Q4 2024 Held for 11 months
9 ADC Therapeutics ADCT	Biotechnology Healthcare	$5.3M	1.08%	+$5.3M New	1.18% 1.3M shares	Q3 2025 Held for 2 months
10 Passage Bio, Inc. PASG	Biotechnology Healthcare	$5.0M	1.02%	+$1.3M Bought	19.62% 623.7K shares	Q1 2022 Held for 3y 8m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Lynx1 Capital Management LP's latest filing

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Market Value

$491.3M

Prior: $345.8M

Q/Q Change

+42.06%

+$145.5M

Net Flows % of MV

+3.97%

Turnover Ratio

5.1%

New Purchases

2 stocks

$9.1M

Added To

4 stocks

+$31.9M

Sold Out Of

2 stocks

$2.6M

Reduced Holdings

4 stocks

-$18.9M

Increased Positions

Position	Shares Δ	Change
1 ADC Therapeutics ADCT	New	0 → 1.3M +$5.3M
2 Denali Therapeutics Inc. DNLI	New	0 → 261.7K +$3.8M
3 Passage Bio, Inc. PASG	+34.75%	462.8K → 623.7K +$1.3M
4 Cullinan Therapeutics, Inc. CGEM	+31.02%	4.4M → 5.8M +$8.1M
5 GH Research GHRS	+27.48%	6.7M → 8.6M +$22.5M

Decreased Positions

Position	Shares Δ	Change
1 Upstream Bio, Inc. UPB	Sold	219.2K → 0 −$2.4M
2 Assembly Biosciences ASMB	Sold	10.4K → 0 −$187.8K
3 Allogene Therapeutics ALLO	-95.06%	11.1M → 546.1K −$13.0M
4 iBio IBIO	-31.37%	1.5M → 1.1M −$399.6K
5 Protagonist Therapeutics PTGX	-4.5%	733.0K → 700.0K −$2.2M