In its second-quarter 13F filing for the period ending June 30, 2026, life-sciences specialist Casdin Capital revealed a portfolio value of $2.0 billion. The firm, known for investing in the "picks and shovels" of biotech, showed increased conviction in targeted cancer therapies. Its top holding remains Revolution Medicines (RVMD), which saw its value in the portfolio swell to $482.68 million, representing a significant 24.16% weight. The fund also materially increased its bet on Relay Therapeutics (RLAY), adding over 1.6 million shares to make it the second-largest holding at just over $300 million.
The most significant portfolio additions underscore a focus on clinical-stage biotechs. Casdin aggressively increased its stake in Relay Therapeutics, raising its weight from 10.86% to 15.02%. The firm also bolstered its holdings in Singular Genomics Systems (WGS), Scholar Rock (SRRK), and Personalis (PSNL), all of which saw substantial increases in share counts. Notable new positions, though small, were initiated in Parabilis Medicines (PBLS) and Sionna Therapeutics (SION), each accounting for just under 1% of the portfolio.
Conversely, Casdin trimmed its exposure to several life-science tools companies. The fund significantly reduced its positions in BioLife Solutions (BLFS) and 10x Genomics (TXG). The most notable high-strength exits were from diagnostics firm Qiagen NV, along with Tempus AI (TEM) and MoonLake Immunotherapeutics (MLTX). These moves suggest a strategic reallocation of capital toward companies with nearer-term clinical catalysts and away from certain enabling technology platforms.