Octagon Capital Advisors LP

Hedge Fund • Sector

Octagon Capital Advisors LP is a Sector-focused Hedge Fund based in New York, NY led by Ting (Nmn) Jia, reporting $919.8M in AUM as of Q3 2025 with 77% Healthcare concentration, 74% concentrated in top 10 holdings, and 18% allocation to ABVX.

FounderTing (Nmn) Jia

Portfolio Value: $637.4M
Positions: 25
Top Holding: ABVX at 17.65%
Last Reported: Q3 2025

Address654 Madison Avenue, 21st Floor, New York, NY, 10065, United States

Top Holdings

Largest long holdings in Octagon Capital Advisors LP's portfolio (73.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 ABVX Abivax ABVX	Unknown Unknown	$112.5M	17.65%	+$4.9M Bought	— 1.3M shares	Q1 2025 Held for 8 months
2 Dianthus Therapeutics DNTH	Biotechnology Healthcare	$95.1M	14.92%	+$3.0M Bought	6.07% 2.4M shares	Q2 2023 Held for 2y 5m
3 Gossamer Bio, Inc. GOSS	Biotechnology Healthcare	$44.8M	7.04%	-$3.4M Sold	7.45% 17.1M shares	Q4 2020 Held for 4y 11m
4 Cogent Biosciences, Inc. COGT	Biotechnology Healthcare	$41.3M	6.48%	+$1.6M Bought	2.06% 2.9M shares	Q3 2024 Held for 1y 2m
5 ArriVent BioPharma, Inc. AVBP	Biotechnology Healthcare	$36.4M	5.71%	+$461.2K Bought	4.86% 2.0M shares	Q1 2024 Held for 1y 8m
6 Ocular Therapeutix OCUL	Biotechnology Healthcare	$30.7M	4.81%	+$2.3M Bought	1.51% 2.6M shares	Q1 2024 Held for 1y 8m
7 Taysha Gene Therapies, Inc. TSHA	Biotechnology Healthcare	$29.7M	4.65%	-$11.5M Sold	3.32% 9.1M shares	Q3 2023 Held for 2y 2m
8 Merus N.V. MRUS	Biotechnology Healthcare	$29.0M	4.55%	-$7.6M Sold	0.41% 308.0K shares	Q4 2024 Held for 11 months
9 Trevi Therapeutics, Inc. TRVI	Biotechnology Healthcare	$25.8M	4.04%	-$7.8M Sold	2.31% 2.8M shares	Q1 2025 Held for 8 months
10 Mind Medicine MNMD	Biotechnology Healthcare	$25.1M	3.94%	—	2.80% 2.1M shares	Q1 2024 Held for 1y 8m

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Changes

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

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Market Value

$637.4M

Prior: $455.6M

Q/Q Change

+39.89%

+$181.8M

Net Flows % of MV

-18.09%

Turnover Ratio

15.65%

New Purchases

2 stocks

$21.7M

Added To

7 stocks

+$18.8M

Sold Out Of

8 stocks

$100.8M

Reduced Holdings

8 stocks

-$55.0M

Increased Positions

Position	Shares Δ	Change
1 BBOT BridgeBio Oncology Therapeutics, Inc. Common Stock BBOT	New	0 → 1.0M +$12.1M
2 Cidara Therapeutics CDTX	New	0 → 100.0K +$9.6M
3 Kymera Therapeutics KYMR	+35.34%	266.0K → 360.0K +$5.3M
4 Ocular Therapeutix OCUL	+8.21%	2.4M → 2.6M +$2.3M
5 Pharvaris PHVS	+7.43%	672.6K → 722.6K +$1.2M

Decreased Positions

Position	Shares Δ	Change
1 VRNA Verona Pharma VRNA	Sold	337.0K → 0 −$31.9M
2 ARS Pharmaceuticals, Inc. SPRY	Sold	1.4M → 0 −$23.6M
3 aTyr Pharma ATYR	Sold	3.8M → 0 −$19.4M
4 Tourmaline Bio TRML	Sold	905.0K → 0 −$14.5M
5 MoonLake Immunotherapeutics MLTX	Sold	148.0K → 0 −$7.0M