Stonepine Capital Management provides portfolio management for pooled vehicles. The firm advises 1 private fund.
Stonepine Capital Management reports 1 pooled investment vehicle. These counts refer to investment vehicles, rather than the individual investors in them. Of its assets, 100.0% ($181M across 1 account) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 100% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 1 | $181M | 100.0% | $181M |
| Total | 1 | $181M | 100% | $181M |
- Clients
- 1
- Regulatory AUM
- $181M
- AUM share
- 100.0%
- Avg. per client
- $181M
Total
- Clients
- 1
- Regulatory AUM
- $181M
- AUM share
- 100%
- Avg. per client
- $181M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
Stonepine Capital Management is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Jon Plexico owns 75% or more of Stonepine Capital Management. The leadership team of Stonepine Capital Management includes Chief Compliance Officer Lily Hou. It has 4 employees, 3 of them in advisory roles.
Leadership
- Lily HouChief Compliance Officer
- Bryant FongMember
- Jeffrey NunnenkampChief Operations Officer
- Jon PlexicoManaging Member
Staff
- 4 employees
- 3 in advisory functions
- Owns 75% or more of Stonepine Capital Management, LLC
Jon Plexico
Control person · since January 2006
- Owns 10% to 25% of Stonepine Capital Management, LLC
Bryant Fong
since May 2024
Stonepine Capital Management’s regulatory assets fell from $247M (March 2021) to $181M (June 2026); clients were 1 in both filings and employees fell from 5 to 4.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $181M | 1 | 4 | 2 |
| May 2024 | $348M | 1 | 6 | 2 |
| June 2023 | $272M | 1 | 5 | 2 |
| March 2022 | $258M | 1 | 5 | 2 |
| March 2021 | $247M | 1 | 5 | 2 |
Besides its headquarters, Stonepine Capital Management has 1 office, with 2 listed addresses in California and Oregon.
California · 1 listed address
- 475 Gate Five Road, Sausalito
Oregon · 1 listed address
- 2900 NW Clearwater Drive, Suite 100-11, BendHQ
Contact and registration details
- Legal name
- Stonepine Capital Management, LLC
- Headquarters
- 2900 NW Clearwater Drive, Suite 100-11, Bend, OR 97703
- Website
- stonepinecap.com
- Phone
- 541-647-5673
- SEC file
- 801-136874
- Structure
- Delaware LLC
- Fiscal year end
- December
Stonepine Capital Management has custody of $181M in client assets for 1 client.
Stonepine Capital Management’s reported 13F holdings for the quarter ended 31 March 2026 total $250M across 83 positions; the largest are SPDR Series Trust (call option) (20.5%), SPDR Series Trust (put option) (20.5%) and Verastem Inc. (7.0%).
Reported 13F holdings
- $250M
- Reported 13F value
- 83
- Positions
- 70.9%
- In the 10 largest
- —
- Value vs. prior quarter
- SPDR Series Trust · State Street SpdCall20.5%
- SPDR Series Trust · State Street SpdPut20.5%
- Verastem Inc.7.0%
- Tenax Therapeutics Inc.6.2%
- Adma Biologics Inc.Call4.1%
- Evolus Inc.2.9%
- Adma Biologics Inc.2.7%
- Camp4 Therapeutics Corp.2.5%
- Nektar Therapeutics2.4%
- Terns Pharmaceuticals Inc.Call2.1%
Together, the ten largest are 70.9% of reported value.
How many clients does Stonepine Capital Management have?
Stonepine Capital Management has 1 client and manages $181 million for them, as of June 2026. They include 1 pooled investment vehicle.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 June 2026
What services does Stonepine Capital Management offer?
Stonepine Capital Management provides portfolio management for pooled vehicles.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How many financial advisors does Stonepine Capital Management have?
Stonepine Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 4 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
Who owns Stonepine Capital Management?
Stonepine Capital Management’s direct owners are Jon Plexico (75% or more) and Bryant Fong (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 June 2026
How does Stonepine Capital Management get paid?
Stonepine Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Stonepine Capital Management?
Stonepine Capital Management’s main office is at 2900 NW Clearwater Drive, Suite 100-11, Bend, OR 97703. Its phone number is 541-647-5673. Its website is stonepinecap.com.