Opaleye Management Inc.

CIK 0001595855 · Q2 2026

13F Equity AUM

$1.1B

+45.4% QoQ

Positions

+4 QoQ

AUM Rank

#2,273

Top 26%

Skill Alpha (FF)

+6.1%/yr^ns

No Clear Edge

Rank #620 · Top 8%

vs S&P -3.3%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 46.7%Top 10: 64.8%Top 20: 82.4%

LQDA17.7%

ETON9.4%

HROW9.2%

IRON5.7%

URGN4.8%

APGE4.7%

MGTX4.3%

SLGL3.4%

RZLT3.0%

TGTX2.7%

Others (48)35.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare97.8%

Other2.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 58Median: 0.62%Avg: 1.72%

0–0.5%

25(5.6%)

0.5–1%

6(3.8%)

1–3%

19(31.5%)

3–5%

4(17.2%)

5%+

4(41.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 58vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New13Increased15Decreased13Exited9

New Positions

IMMX2.2%

+2.3M

GLUE1.6%

+745K

REPL1.4%

+1.4M

VSTM0.6%

+1.8M

PHAT0.2%

+186K

INBX0.2%

+20K

HEMAB THERAPEUTICS H…0.2%

+48K

FIRST TRACKS BIOTHER…0.1%

+65K

BHVN0.1%

+78K

KTTA0.1%

+2.0M

Increased

CABA1.1%

+2.5M(+180%)

EDIT1.1%

+1.9M(+100%)

MGTX4.3%

+1.4M(+67%)

BBOT0.5%

+647K(+1214%)

IRON5.7%

+434K(+103%)

ACOG1.9%

+334K(+13%)

LYEL0.4%

+265K(+335%)

FDMT0.4%

+222K(+198%)

RCKT0.3%

+45K(+5%)

XOMA1.3%

+38K(+13%)

Decreased

SNWV0.3%

-675,127(-69%)

ANNX0.9%

-617,310(-26%)

DERM0.2%

-610,000(-64%)

HROW9.2%

-432,230(-15%)

QTTB1.1%

-325,228(-26%)

JBIO0.3%

-282,608(-66%)

FBIO0.3%

-152,000(-15%)

LQDA17.7%

-97,500(-4%)

AVIR0.1%

-87,600(-27%)

CGON0.1%

-77,011(-81%)

Exited

-4,675,000

-265,707

-190,671

-123,000

-70,000

-141,181

-200,000

-340,000

-14,506

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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