Q3 2026 13F · SEC CIK 2106939

PSP Research LLC

Institutional asset managerFiled 2026-10-21 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $145.8M
Reported positions: 44
Holdings vs S&P 500, 3 yrs: —
Assets under management: $178.6M

PSP Research LLC is an institutional asset manager that reported 44 positions worth $145.8M in its Q3 2026 13F, filed 2026-10-21. Its largest holdings were Ishares Tr (SGOV, 48.3%), Spdr Series Trust (XBI, 41.8%), Sera Prognostics Inc (SERA, 3.4%).

PSP Research LLC holdings all 44 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

PSP Research LLC 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
SGOVIshares Tr	48.3%	37.5%	700,000	+0.0%	$70.5M
XBISpdr Series Trust	41.8%	48.0%	386,500	-32.2%	$60.9M
SERASera Prognostics Inc	3.4%	—	2,396,685	—	$5.0M
HALOHalozyme Therapeutics Inc	0.2%	0.3%	3,000	-57.1%	$331K
MDGLMadrigal Pharmaceuticals Inc	0.2%	0.2%	600	+0.0%	$302K
EXELExelixis Inc	0.2%	0.2%	5,000	-37.5%	$292K
RPRXRoyalty Pharma PLC	0.2%	0.3%	5,000	-54.5%	$292K
ARGNFArgenx SE	0.2%	0.3%	300	-53.2%	$288K
NRIXNurix Therapeutics Inc	0.2%	0.3%	12,000	-52.0%	$285K
TGTXTG Therapeutics Inc	0.2%	0.3%	5,000	-50.0%	$279K
TARSTarsus Pharmaceuticals Inc	0.2%	0.2%	3,500	-50.0%	$275K
HRMYHarmony Biosciences Holdings I	0.2%	0.2%	7,000	-30.0%	$275K
ARQTArcutis Biotherapeutics Inc	0.2%	0.3%	10,000	-49.2%	$264K
KNSAKiniksa Pharmaceuticals Intl	0.2%	0.2%	3,500	-30.0%	$261K
SUPNSupernus Pharmaceuticals	0.2%	—	6,000	—	$258K
IMNMImmunome Inc	0.2%	0.2%	12,000	-33.3%	$258K
NBIXNeurocrine Biosciences Inc	0.2%	0.3%	1,800	-40.0%	$255K
ORKAOruka Therapeutics Inc	0.2%	—	3,000	—	$250K
TNGXTango Therapeutics Inc	0.2%	0.2%	10,000	+0.0%	$250K
24477V105Definium Therapeutics Inc	0.2%	0.3%	6,500	-35.0%	$247K
RVMDRevolution Medicines Inc	0.2%	—	1,200	—	$246K
ALKSAlkermes PLC	0.2%	0.2%	6,000	+0.0%	$243K
AUPHAurinia Pharmaceuticals Inc	0.2%	0.3%	15,000	-50.0%	$243K
INCYIncyte Corp	0.2%	0.3%	2,000	-62.3%	$243K
NTLAIntellia Therapeutics Inc	0.2%	0.2%	20,000	+0.0%	$241K
IMVTImmunovant Inc	0.2%	0.3%	7,000	-46.2%	$236K
STOKStoke Therapeutics Inc	0.2%	0.2%	9,000	-25.0%	$234K
KRYSKrystal Biotech Inc	0.2%	—	692	—	$230K
ASNDAscendis Pharma A/s	0.2%	0.2%	1,000	-33.3%	$228K
SNDXSyndax Pharmaceuticals Inc	0.2%	0.2%	12,000	-40.0%	$226K
KYMRKymera Therapeutics Inc	0.2%	0.2%	2,000	-50.0%	$224K
DNTHDianthus Therapeutics Inc	0.2%	—	2,500	—	$220K
TRVITrevi Therapeutics Inc	0.1%	0.3%	15,000	-50.0%	$215K
MIRMMirum Pharmaceuticals Inc	0.1%	0.2%	2,500	+0.0%	$214K
IMCRImmunocore Hldgs PLC	0.1%	0.3%	7,000	-53.8%	$212K
PTGXProtagonist Therapeutics Inc	0.1%	0.2%	1,500	-50.0%	$211K
EWTXEdgewise Therapeutics Inc	0.1%	—	5,000	—	$203K
ORICOric Pharmaceuticals Inc	0.1%	—	13,000	—	$175K
DYNDyne Therapeutics Inc	0.1%	0.2%	10,000	-50.0%	$161K
CMPSCompass Pathways PLC	0.1%	—	10,000	—	$124K
OCULOcular Therapeutix Inc	0.1%	—	15,000	—	$115K
CTMXCytomx Therapeutics Inc.	0.1%	—	39,400	—	$107K
ARDXArdelyx Inc	0.1%	0.2%	30,000	-50.0%	$103K
OLMAOlema Pharmaceuticals Inc	0.1%	—	10,000	—	$86K

What PSP Research LLC bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Added to

No position grew by more than 5%.

Reduced

INCY Incyte Corp-62.3% shares
HALO Halozyme Therapeutics Inc-57.1% shares
RPRX Royalty Pharma PLC-54.5% shares
IMCR Immunocore Hldgs PLC-53.8% shares
ARGNF Argenx SE-53.2% shares
NRIX Nurix Therapeutics Inc-52.0% shares
TGTX TG Therapeutics Inc-50.0% shares
TARS Tarsus Pharmaceuticals Inc-50.0% shares

Sold out

IRON Disc Medicine Incwas 0.3%
RAPP Rapport Therapeutics Incwas 0.3%
RARE Ultragenyx Pharmaceutical inwas 0.3%
GLUE Monte Rosa Therapeutics Incwas 0.3%
IONS Ionis Pharmaceuticals Incwas 0.3%
PHVS Pharvaris N Vwas 0.3%
ACAD Acadia Pharmaceuticals Incwas 0.3%
PTCT Ptc Therapeutics Incwas 0.3%

Share counts compared with the Q2 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: —
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$145.8M	44
Q2 2026	$187.9M	75
Q1 2026	$141.3M	79
Q4 2025	$114.4M	85

Questions about PSP Research LLC's portfolio

What stocks does PSP Research LLC own?

PSP Research LLC's latest 13F, for Q3 2026 and filed Oct 21, 2026, lists 44 positions worth $145.8M. The largest are Ishares Tr (SGOV) at 48.3%, Spdr Series Trust (XBI) at 41.8%, Sera Prognostics Inc (SERA) at 3.4%, Halozyme Therapeutics Inc (HALO) at 0.2% and Madrigal Pharmaceuticals Inc (MDGL) at 0.2%.

What did PSP Research LLC buy last quarter?

PSP Research LLC opened no new positions and grew none by more than 5% among its largest holdings in Q3 2026.

What did PSP Research LLC sell last quarter?

In Q3 2026, PSP Research LLC sold all of Disc Medicine Inc (IRON), sold all of Rapport Therapeutics Inc (RAPP), sold all of Ultragenyx Pharmaceutical in (RARE), sold all of Monte Rosa Therapeutics Inc (GLUE), sold all of Ionis Pharmaceuticals Inc (IONS), Incyte Corp (INCY) (-62.3% shares), Halozyme Therapeutics Inc (HALO) (-57.1% shares) and Royalty Pharma PLC (RPRX) (-54.5% shares), compared with its Q2 2026 filing.

When is PSP Research LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. PSP Research LLC's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.

How much money does PSP Research LLC manage?

PSP Research LLC reported $178.6M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $145.8M.