Jones Hill Capital LP 13F: Quarter-over-Quarter Portfolio Changes
Jones Hill Capital LP reported a disclosed portfolio value of approximately $470.4 million in its latest SEC Form 13F-HR filing for Q2 2026, up 0.8% quarter on quarter. Over the quarter, the fund initiated 15 new positions, bought more shares in 5 holdings, trimmed 9 holdings, and exited 12 positions.
Jones Hill Capital LP's top buy was a new stake in Gilead Sciences INC (GILD) , equal to 9.2% of the disclosed portfolio. Its top sell was Vaxcyte INC (PCVX) . The fund exited the position completely after it had accounted for 8.0% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| GILEAD SCIENCES INC | GILD | 9.2% | History → |
| ARCUTIS BIOTHERAPEUTICS INC | ARQT | 6.1% | History → |
| MADRIGAL PHARMACEUTICALS INC | MDGL | 6.0% | History → |
| XENON PHARMACEUTICALS INC | XENE | 4.7% | History → |
| IMMUNOCORE HLDGS PLC | IMCR | 3.5% | Holders → |
| INSMED INC | INSM | 2.8% | Holders → |
| ACLARIS THERAPEUTICS INC | ACRS | 2.0% | Holders → |
| IMMUNIC INC | IMUX | 1.8% | Holders → |
| ORIC PHARMACEUTICALS INC | ORIC | 1.7% | Holders → |
| SYNDAX PHARMACEUTICALS INC | SNDX | 1.6% | Holders → |
| OLEMA PHARMACEUTICALS INC | OLMA | 1.5% | Holders → |
| CORBUS PHARMACEUTICALS HLDGS | CRBP | 1.3% | Holders → |
| DIANTHUS THERAPEUTICS INC | DNTH | 1.2% | Holders → |
| PHATHOM PHARMACEUTICALS INC | PHAT | 0.4% | Holders → |
| ACHIEVE LIFE SCIENCE INC | ACHV | 0.0% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| RELMADA THERAPEUTICS INC | RLMD | +4.9% | +966.4% | History → |
| PHARVARIS N V | PHVS | +4.0% | +305.9% | History → |
| TREVI THERAPEUTICS INC | TRVI | +4.4% | +261.8% | History → |
| TONIX PHARMACEUTICALS HLDG C | TNXP | +0.4% | +38.3% | Holders → |
| BIOMARIN PHARMACEUTICAL INC | BMRN | +2.1% | +12.9% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| ENLIVEN THERAPEUTICS INC | ELVN | -4.4% | 91.6% | Holders → |
| VERTEX PHARMACEUTICALS INC | VRTX | -9.2% | 89.8% | Holders → |
| NUVALENT INC | NUVL | -4.0% | 67.3% | Holders → |
| STRUCTURE THERAPEUTICS INC | GPCR | -0.6% | 59.7% | Holders → |
| CAPRICOR THERAPEUTICS INC | CAPR | -3.8% | 53.7% | Holders → |
| VIR BIOTECHNOLOGY INC | VIR | -0.9% | 45.0% | Holders → |
| AMYLYX PHARMACEUTICALS INC | AMLX | -1.4% | 44.1% | Holders → |
| BICARA THERAPEUTICS INC | BCAX | 0.3% | 29.2% | History → |
| ANI PHARMACEUTICALS INC | ANIP | -1.1% | 26.6% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| VAXCYTE INC | PCVX | 8.0% |
| TERNS PHARMACEUTICALS INC | TERN | 5.9% |
| ULTRAGENYX PHARMACEUTICAL IN | RARE | 5.2% |
| ARGENX SE | ARGX | 4.1% |
| FULCRUM THERAPEUTICS INC | FULC | 2.9% |
| NUVATION BIO INC | NUVB | 2.2% |
| ORUKA THERAPEUTICS INC | ORKA | 1.5% |
| CONTINEUM THERAPEUTICS, INC. | CTNM | 1.4% |
| VERADERMICS INC | MANE | 1.4% |
| ENTRADA THERAPEUTICS, INC. | TRDA | 1.0% |
| SILENCE THERAPEUTICS PLC | SLN | 0.3% |
| ARRIVENT BIOPHARMA INC | AVBP | 0.2% |
Net Portfolio Value ChangeQ2 2026
- $0.5BPrior quarter
- $0.5BCurrent quarter
- +$0.0BNet delta
- +0.8%% change
Methodology & FAQ
How Jones Hill Capital LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Jones Hill Capital LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Jones Hill Capital LP buy in Q2 2026?
In Q2 2026, Jones Hill Capital LP initiated 15 new positions (GILEAD SCIENCES INC (GILD), ARCUTIS BIOTHERAPEUTICS INC (ARQT), MADRIGAL PHARMACEUTICALS INC (MDGL), XENON PHARMACEUTICALS INC (XENE), IMMUNOCORE HLDGS PLC (IMCR), INSMED INC (INSM), ACLARIS THERAPEUTICS INC (ACRS), IMMUNIC INC (IMUX), ORIC PHARMACEUTICALS INC (ORIC), SYNDAX PHARMACEUTICALS INC (SNDX), OLEMA PHARMACEUTICALS INC (OLMA), CORBUS PHARMACEUTICALS HLDGS (CRBP), DIANTHUS THERAPEUTICS INC (DNTH), PHATHOM PHARMACEUTICALS INC (PHAT), ACHIEVE LIFE SCIENCE INC (ACHV)); bought more shares of RELMADA THERAPEUTICS INC (RLMD), PHARVARIS N V (PHVS), TREVI THERAPEUTICS INC (TRVI), TONIX PHARMACEUTICALS HLDG C (TNXP), BIOMARIN PHARMACEUTICAL INC (BMRN).
What stocks did Jones Hill Capital LP sell in Q2 2026?
In Q2 2026, Jones Hill Capital LP fully sold 12 positions (VAXCYTE INC (PCVX), TERNS PHARMACEUTICALS INC (TERN), ULTRAGENYX PHARMACEUTICAL IN (RARE), ARGENX SE (ARGX), FULCRUM THERAPEUTICS INC (FULC), NUVATION BIO INC (NUVB), ORUKA THERAPEUTICS INC (ORKA), CONTINEUM THERAPEUTICS, INC. (CTNM), VERADERMICS INC (MANE), ENTRADA THERAPEUTICS, INC. (TRDA), SILENCE THERAPEUTICS PLC (SLN), ARRIVENT BIOPHARMA INC (AVBP)); reduced holdings in ENLIVEN THERAPEUTICS INC (ELVN), VERTEX PHARMACEUTICALS INC (VRTX), NUVALENT INC (NUVL), STRUCTURE THERAPEUTICS INC (GPCR), CAPRICOR THERAPEUTICS INC (CAPR) (the largest 5 of 9 reductions).
Which positions did Jones Hill Capital LP initiate in Q2 2026?
Jones Hill Capital LP established 15 new positions in Q2 2026: GILEAD SCIENCES INC (GILD, 9.2%), ARCUTIS BIOTHERAPEUTICS INC (ARQT, 6.1%), MADRIGAL PHARMACEUTICALS INC (MDGL, 6.0%), XENON PHARMACEUTICALS INC (XENE, 4.7%), IMMUNOCORE HLDGS PLC (IMCR, 3.5%), INSMED INC (INSM, 2.8%), ACLARIS THERAPEUTICS INC (ACRS, 2.0%), IMMUNIC INC (IMUX, 1.8%), ORIC PHARMACEUTICALS INC (ORIC, 1.7%), SYNDAX PHARMACEUTICALS INC (SNDX, 1.6%), OLEMA PHARMACEUTICALS INC (OLMA, 1.5%), CORBUS PHARMACEUTICALS HLDGS (CRBP, 1.3%), DIANTHUS THERAPEUTICS INC (DNTH, 1.2%), PHATHOM PHARMACEUTICALS INC (PHAT, 0.4%), ACHIEVE LIFE SCIENCE INC (ACHV, 0.0%).
Which existing positions saw the largest allocation increases for Jones Hill Capital LP in Q2 2026?
Of 5 existing positions with share-count increases in Q2 2026, the largest were: RELMADA THERAPEUTICS INC (RLMD, +4.9% weight, +966.4% shares), PHARVARIS N V (PHVS, +4.0% weight, +305.9% shares), TREVI THERAPEUTICS INC (TRVI, +4.4% weight, +261.8% shares), TONIX PHARMACEUTICALS HLDG C (TNXP, +0.4% weight, +38.3% shares), BIOMARIN PHARMACEUTICAL INC (BMRN, +2.1% weight, +12.9% shares).
Which positions did Jones Hill Capital LP fully exit in Q2 2026?
Jones Hill Capital LP fully exited 12 positions in Q2 2026: VAXCYTE INC (PCVX, last-reported weight 8.0%), TERNS PHARMACEUTICALS INC (TERN, last-reported weight 5.9%), ULTRAGENYX PHARMACEUTICAL IN (RARE, last-reported weight 5.2%), ARGENX SE (ARGX, last-reported weight 4.1%), FULCRUM THERAPEUTICS INC (FULC, last-reported weight 2.9%), NUVATION BIO INC (NUVB, last-reported weight 2.2%), ORUKA THERAPEUTICS INC (ORKA, last-reported weight 1.5%), CONTINEUM THERAPEUTICS, INC. (CTNM, last-reported weight 1.4%), VERADERMICS INC (MANE, last-reported weight 1.4%), ENTRADA THERAPEUTICS, INC. (TRDA, last-reported weight 1.0%), SILENCE THERAPEUTICS PLC (SLN, last-reported weight 0.3%), ARRIVENT BIOPHARMA INC (AVBP, last-reported weight 0.2%).
Which existing positions saw the largest allocation reductions for Jones Hill Capital LP in Q2 2026?
Of 9 existing positions with share-count reductions in Q2 2026, the largest were: ENLIVEN THERAPEUTICS INC (ELVN, -4.4% weight, -91.6% shares), VERTEX PHARMACEUTICALS INC (VRTX, -9.2% weight, -89.8% shares), NUVALENT INC (NUVL, -4.0% weight, -67.3% shares), STRUCTURE THERAPEUTICS INC (GPCR, -0.6% weight, -59.7% shares), CAPRICOR THERAPEUTICS INC (CAPR, -3.8% weight, -53.7% shares), VIR BIOTECHNOLOGY INC (VIR, -0.9% weight, -45.0% shares), AMYLYX PHARMACEUTICALS INC (AMLX, -1.4% weight, -44.1% shares), BICARA THERAPEUTICS INC (BCAX, 0.3% weight, -29.2% shares), ANI PHARMACEUTICALS INC (ANIP, -1.1% weight, -26.6% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.