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Affinity Asset Advisors, LLC
Michael Cho · Hedge Fund · Long/Short Equity
Affinity Asset Advisors, LLC is a New York-based investment management firm founded in 2017 by Michael Cho and Jonathan Chu. The firm serves as the investment adviser to private fund clients, including the Affinity Healthcare Fund, and specializes in a healthcare-focused long/short equity strategy. It primarily targets investments in the pharmaceutical and biotechnology sectors, leveraging fundamental research to identify opportunities in companies developing and commercializing drug therapies. As of early 2025, the firm managed approximately $808 million in regulatory assets under management.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +101.4% |
| YTD return | +35.3% |
| Sharpe ratio | 3.77 |
| Win rate | 67% |
| AUM | $1.3B |
| Inception | Oct 1, 2025 |
| Updated | Aug 20, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $1.3B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | http://affinityadv.com/ |
Current Holdings
Updated on Aug 20, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| APGE | Apogee Therapeutics, Inc. Common Stock | 13.0% | +154.3% |
| SYRE | Spyre Therapeutics Inc. | 10.0% | +165.7% |
| XENE | Xenon Pharmaceuticals Inc | 8.0% | +29.5% |
| ROIV | Roivant Sciences Ltd | 7.6% | +29.1% |
| ERAS | Erasca Inc | 7.3% | +33.6% |
| FBRX | Forte Biosciences Inc | 5.8% | +70.1% |
| ALKS | Alkermes Plc | 5.0% | +44.4% |
| INSM | Insmed Inc | 4.6% | -13.5% |
| PRAX | Praxis Precision Medicines Inc | 4.5% | +10.4% |
| CYTK | Cytokinetics Inc | 4.0% | +13.5% |
| ANAB | AnaptysBio Inc | 4.0% | -6.3% |
| ABVX | Abivax SA American Depositary Shares | 4.0% | +15.4% |
| TEVA | Teva Pharma Industries Ltd ADR | 3.7% | +56.1% |
| ORKA | Oruka Therapeutics, Inc. | 3.7% | +162.2% |
| DNTH | Dianthus Therapeutics Inc. | 2.8% | +23.3% |
| TRVI | Trevi Therapeutics Inc | 2.7% | +44.9% |
| ELVN | Enliven Therapeutics Inc. | 2.7% | +22.7% |
| COGT | Cogent Biosciences Inc | 2.4% | -9.6% |
| MDGL | Madrigal Pharmaceuticals Inc | 2.1% | -1.6% |
| OVID | Ovid Therapeutics Inc | 2.1% | +4.6% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 10, 2026 | SELL | PRAX | 4.0% → 4.5% |
| Aug 10, 2026 | BUY | MDGL | 2.0% → 2.1% |
| Aug 10, 2026 | SELL | XENE | 8.3% → 8.0% |
| Aug 10, 2026 | SELL | ERAS | 7.6% → 7.3% |
| Aug 10, 2026 | SELL | TEVA | 3.8% → 3.7% |
Investment Style Analysis
Affinity Asset Advisors, LLC is widely recognized for employing a Long/Short Equity strategy. As of Aug 20, 2026, the firm oversees approximately $1.3B in assets under management (AUM). The portfolio demonstrates a clear preference for the Biotechnology and Drug Manufacturers - Specialty & Generic sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 10, Affinity Asset Advisors, LLC made a significant move by reducing the position in PRAX. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Affinity Asset Advisors utilizes a fundamentally-driven investment approach with a concentrated focus on the global healthcare sector. The firm's core strategy is an active long/short equity model that prioritizes pharmaceutical and biotechnology companies involved in the discovery and commercialization of innovative drug therapies. By conducting rigorous research into clinical data, regulatory pathways, and market dynamics, the firm seeks to capitalize on valuation discrepancies within the healthcare landscape. While equity-centric, Affinity retains the mandate to invest opportunistically across various capital structures, including credit and alternative instruments, to optimize risk-adjusted returns for its private fund clients.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Affinity Asset Advisors, LLC.
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Frequently asked questions
How is the simulated portfolio for Affinity Asset Advisors, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Affinity Asset Advisors, LLC's largest holding?
As of the latest filing, Affinity Asset Advisors, LLC's top position is Apogee Therapeutics, Inc. Common Stock (APGE), representing 13.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Affinity Asset Advisors, LLC's historical performance and risk profile?
Our simulation indicates a total return of +101.4% with a win rate of 67%. Notably, the portfolio maintains a Sharpe Ratio of 3.77, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Affinity Asset Advisors, LLC primarily invest in?
Affinity Asset Advisors, LLC has a strong preference for the Biotechnology sector, which makes up 91.3% of their disclosed assets. The portfolio also has exposure to Drug Manufacturers - Specialty & Generic, indicating a specific thematic focus.
Is Affinity Asset Advisors, LLC's portfolio concentrated or diversified?
Affinity Asset Advisors, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 30.9% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Affinity Asset Advisors, LLC performed in 2026?
Our AI-simulated model portfolio for Affinity Asset Advisors, LLC tracks a Year-to-Date (YTD) return of +35.3%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Michael Cho manage Affinity Asset Advisors, LLC directly?
Yes, Michael Cho serves as the key portfolio manager for Affinity Asset Advisors, LLC, overseeing the investment strategy and final capital allocation decisions.