Filed: 2/17/2026ACC: 0000919574-26-001069
📋 What this filing means
KOTLER KEVIN filed this quarterly 13F‑HR report disclosing 36 equity positions with a total reported market value of $427.50M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
36
Positions
$427.50M
Total AUM (reported)
14.99M
Total Shares
Allocation by class
TR UNIT$238.67M55.8%
COM$100.08M23.4%
COM SHS$34.93M8.2%
UNIT SER 1$30.72M7.2%
SHS NEW$11.23M2.6%
COM NEW$5.76M1.3%
SPON ADR$2.94M0.7%
Portfolio Concentration
Top 3$304.31M71.2%
4–10$87.66M20.5%
11–25$32.29M7.6%
Rest$3.22M0.8%
Top 3 weight
71.2%
Top 10 weight
91.7%
Voting Authority Distribution
Total shares with voting rights: 14.99M
Sole
Full voting authority
14.99M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole13
Shared0
Other23
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings36
Rows:
SPDR S&P 500 ETF TR
DFNDShares350K
TypeSH
Market value$238.67M
55.83%
Sole
350K
Shared
0.00
None
0.00
AVADEL PHARMACEUTICALS PLC
DFNDShares1.62M
TypeSH
Market value$34.93M
8.17%
Sole
1.62M
Shared
0.00
None
0.00
INVESCO QQQ TR
DFNDShares50K
TypeSH
Market value$30.72M
7.18%
Sole
50K
Shared
0.00
None
0.00
ANGIODYNAMICS INC
SOLEShares1.71M
TypeSH
Market value$22.00M
5.15%
Sole
1.71M
Shared
0.00
None
0.00
AURINIA PHARMACEUTICALS INC
SOLEShares1.22M
TypeSH
Market value$19.54M
4.57%
Sole
1.22M
Shared
0.00
None
0.00
OMEROS CORP
DFNDShares1.12M
TypeSH
Market value$19.35M
4.53%
Sole
1.12M
Shared
0.00
None
0.00
NEUROPACE INC
SOLEShares631.47K
TypeSH
Market value$9.75M
2.28%
Sole
631.47K
Shared
0.00
None
0.00
MEDIWOUND LTD
DFNDShares337.24K
TypeSH
Market value$6.23M
1.46%
Sole
337.24K
Shared
0.00
None
0.00
AXOGEN INC
DFNDShares168K
TypeSH
Market value$5.50M
1.29%
Sole
168K
Shared
0.00
None
0.00
INTEGRA LIFESCIENCES HLDGS C
SOLEShares427.44K
TypeSH
Market value$5.31M
1.24%
Sole
427.44K
Shared
0.00
None
0.00
ACLARIS THERAPEUTICS INC
SOLEShares1.71M
TypeSH
Market value$5.13M
1.20%
Sole
1.71M
Shared
0.00
None
0.00
VERTICAL AEROSPACE LTD
DFNDShares939.71K
TypeSH
Market value$5.01M
1.17%
Sole
939.71K
Shared
0.00
None
0.00
ORASURE TECHNOLOGIES INC
DFNDShares1.80M
TypeSH
Market value$4.36M
1.02%
Sole
1.80M
Shared
0.00
None
0.00
GALAPAGOS NV
DFNDShares90K
TypeSH
Market value$2.94M
0.69%
Sole
90K
Shared
0.00
None
0.00
ELI LILLY & CO
DFNDShares2K
TypeSH
Market value$2.15M
0.50%
Sole
2K
Shared
0.00
None
0.00
CERUS CORP
DFNDShares1.01M
TypeSH
Market value$2.08M
0.49%
Sole
1.01M
Shared
0.00
None
0.00
NIKE INC
DFNDShares32K
TypeSH
Market value$2.04M
0.48%
Sole
32K
Shared
0.00
None
0.00
TECTONIC THERAPEUTIC INC
DFNDShares80K
TypeSH
Market value$1.67M
0.39%
Sole
80K
Shared
0.00
None
0.00
CLIMB BIO INC
DFNDShares400K
TypeSH
Market value$1.60M
0.37%
Sole
400K
Shared
0.00
None
0.00
TREACE MED CONCEPTS INC
DFNDShares474.37K
TypeSH
Market value$1.16M
0.27%
Sole
474.37K
Shared
0.00
None
0.00
TRISALUS LIFE SCIENCES INC
DFNDShares145.20K
TypeSH
Market value$1.01M
0.24%
Sole
145.20K
Shared
0.00
None
0.00
DEXCOM INC
DFNDShares15K
TypeSH
Market value$995.5K
0.23%
Sole
15K
Shared
0.00
None
0.00
VANDA PHARMACEUTICALS INC
DFNDShares100K
TypeSH
Market value$882.0K
0.21%
Sole
100K
Shared
0.00
None
0.00
ALIGN TECHNOLOGY INC
SOLEShares4.36K
TypeSH
Market value$680.7K
0.16%
Sole
4.36K
Shared
0.00
None
0.00
ONKURE THERAPEUTICS INC
DFNDShares197.69K
TypeSH
Market value$573.3K
0.13%
Sole
197.69K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRDFND | TR UNIT | 350K | SH | $238.67M 55.83% | 350K | 0.00 | 0.00 |
AVADEL PHARMACEUTICALS PLCDFND | COM SHS | 1.62M | SH | $34.93M 8.17% | 1.62M | 0.00 | 0.00 |
INVESCO QQQ TRDFND | UNIT SER 1 | 50K | SH | $30.72M 7.18% | 50K | 0.00 | 0.00 |
ANGIODYNAMICS INCSOLE | COM | 1.71M | SH | $22.00M 5.15% | 1.71M | 0.00 | 0.00 |
AURINIA PHARMACEUTICALS INCSOLE | COM | 1.22M | SH | $19.54M 4.57% | 1.22M | 0.00 | 0.00 |
OMEROS CORPDFND | COM | 1.12M | SH | $19.35M 4.53% | 1.12M | 0.00 | 0.00 |
NEUROPACE INCSOLE | COM | 631.47K | SH | $9.75M 2.28% | 631.47K | 0.00 | 0.00 |
MEDIWOUND LTDDFND | SHS NEW | 337.24K | SH | $6.23M 1.46% | 337.24K | 0.00 | 0.00 |
AXOGEN INCDFND | COM | 168K | SH | $5.50M 1.29% | 168K | 0.00 | 0.00 |
INTEGRA LIFESCIENCES HLDGS CSOLE | COM NEW | 427.44K | SH | $5.31M 1.24% | 427.44K | 0.00 | 0.00 |
ACLARIS THERAPEUTICS INCSOLE | COM | 1.71M | SH | $5.13M 1.20% | 1.71M | 0.00 | 0.00 |
VERTICAL AEROSPACE LTDDFND | SHS NEW | 939.71K | SH | $5.01M 1.17% | 939.71K | 0.00 | 0.00 |
ORASURE TECHNOLOGIES INCDFND | COM | 1.80M | SH | $4.36M 1.02% | 1.80M | 0.00 | 0.00 |
GALAPAGOS NVDFND | SPON ADR | 90K | SH | $2.94M 0.69% | 90K | 0.00 | 0.00 |
ELI LILLY & CODFND | COM | 2K | SH | $2.15M 0.50% | 2K | 0.00 | 0.00 |
CERUS CORPDFND | COM | 1.01M | SH | $2.08M 0.49% | 1.01M | 0.00 | 0.00 |
NIKE INCDFND | CL B | 32K | SH | $2.04M 0.48% | 32K | 0.00 | 0.00 |
TECTONIC THERAPEUTIC INCDFND | COM | 80K | SH | $1.67M 0.39% | 80K | 0.00 | 0.00 |
CLIMB BIO INCDFND | COM | 400K | SH | $1.60M 0.37% | 400K | 0.00 | 0.00 |
TREACE MED CONCEPTS INCDFND | COM | 474.37K | SH | $1.16M 0.27% | 474.37K | 0.00 | 0.00 |
TRISALUS LIFE SCIENCES INCDFND | COM | 145.20K | SH | $1.01M 0.24% | 145.20K | 0.00 | 0.00 |
DEXCOM INCDFND | COM | 15K | SH | $995.5K 0.23% | 15K | 0.00 | 0.00 |
VANDA PHARMACEUTICALS INCDFND | COM | 100K | SH | $882.0K 0.21% | 100K | 0.00 | 0.00 |
ALIGN TECHNOLOGY INCSOLE | COM | 4.36K | SH | $680.7K 0.16% | 4.36K | 0.00 | 0.00 |
ONKURE THERAPEUTICS INCDFND | COM CL A | 197.69K | SH | $573.3K 0.13% | 197.69K | 0.00 | 0.00 |
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