KA
Krensavage Asset Management, LLC 13F Portfolio Snapshot & Holdings (Q2 2026)
Krensavage Asset Management, LLCCIK: 0001609251
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$263.2M
Reporting period: 2026-06-30 · Number of holdings: 18
Krensavage Asset Management, LLC disclosed 18 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $263.2M and a quarterly turnover rate of 29.2%.
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Personality snowflake
- Concentration
- 41.15
- Portfolio Stability
- 29.19
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 36
- Sizing Uniformity
- 90.5
Krensavage Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.103 — mathematically equivalent to about 10 equally-sized positions, well below its 18 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.95), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd ABT
+3900.0% $17.6M
Trim UTHR
-17.8% -$12.4M
Sold out INDV
Add JAZZ
0.0% $8.7M
Add RARE
0.0% $4.9M
Add ENTA
0.0% $5.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ENTA | Enanta Pharmaceuticals Inc | Stock-Other | 15.88% | +1.72% | — | |
| 2 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 15.36% | +2.95% | — | |
| 3 | UTHR | United Therapeutics CORP | Stock-Healthcare | 14.26% | -5.29% | -17.80% | |
| 4 | BMRN | Biomarin Pharmaceutical Inc | Stock-Healthcare | 11.41% | -0.18% | — | |
| 5 | EXEL | Exelixis Inc | Stock-Healthcare | 7.66% | +0.69% | -10.83% | |
| 6 | ABT | Abbott Laboratories | Stock-Healthcare | 6.89% | +6.69% | +3900.00% | |
| 7 | SNY | Sanofi-adr | Stock-Healthcare | 5.25% | -0.85% | — | |
| 8 | SUPN | Supernus Pharmaceuticals Inc | Stock-Healthcare | 4.96% | -0.71% | — | |
| 9 | RARE | Ultragenyx Pharmaceutical In | Stock-Other | 4.96% | +1.76% | — | |
| 10 | VNDA | Vanda Pharmaceuticals Inc | Stock-Other | 2.74% | -0.45% | — | |
| 11 | BNTX | Biontech Se-adr | Stock-Other | 2.10% | +0.03% | — | |
| 12 | GSK | Gsk Plc-spon Adr | Stock-Healthcare | 1.93% | -0.16% | — | |
| 13 | BIIB | Biogen Inc | Stock-Healthcare | 1.64% | +0.21% | — | |
| 14 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 1.42% | +0.21% | +50.00% | |
| 15 | EMBC | Embecta CORP | Stock-Healthcare | 1.41% | -1.13% | +54.40% | |
| 16 | ARDX | Ardelyx Inc | Stock-Other | 1.04% | -0.13% | +6.90% | |
| 17 | INMD | InMode Ltd. | Stock-Other | 0.67% | +0.02% | — | |
| 18 | EOLS | Evolus Inc | Stock-Other | 0.42% | +0.17% | — |
Portfolio Performance
Performance for Q3 2026
+2.3%
Performance Last 4 Quarters
+46.8%
- Stdev
- +16.1%
- Beta
- +0.54
- Alpha
- +12.3%
- Max Drawdown
- -6.6%
- Annualized Perf
- +24.2%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +3.02
- Stutzer
- +0.43
- Treynor
- +0.43
- Sterling
- +1.59
- Calmar
- +3.66
- Information Ratio
- +0.2
- Tracking Error
- +15.7%
- Stdev Down
- +7.6%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +61.3%
- Worst 12 Months
- +9.4%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.44
- Stdev Sectors
- 0%
- Skewness
- +0.12
- Kurtosis
- -0.49
- Upside Potential
- +4.78
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 18 | $263.2M | 29 | ||
| 2026 Q1 | 20 | $255.7M | 39 | ||
| 2025 Q4 | 18 | $283.1M | 28 | ||
| 2025 Q3 | 17 | $234.7M | 51 | ||
| 2025 Q2 | 15 | $188.9M | 0 | ||
| 2025 Q1 | 14 | $180.9M | 100 | ||
| 2024 Q4 | 12 | $169.0M | 0 | ||
| 2024 Q3 | 13 | $178.5M | 0 | ||
| 2024 Q2 | 13 | $217.8M | 0 | ||
| 2024 Q1 | 12 | $225.5M | 0 | ||
| 2023 Q4 | 12 | $281.9M | 0 | ||
| 2023 Q3 | 12 | $271.6M | 0 | ||
| 2023 Q2 | 12 | $315.6M | 0 | ||
| 2023 Q1 | 12 | $329.3M | 0 | ||
| 2022 Q4 | 12 | $323.6M | 0 | ||
| 2022 Q3 | 14 | $314.1M | 0 | ||
| 2022 Q2 | 14 | $302.5M | 0 | ||
| 2022 Q1 | 13 | $290.1M | 0 | ||
| 2021 Q4 | 10 | $288.3M | 0 | ||
| 2021 Q3 | 13 | $318.8M | 0 | ||
| 2021 Q2 | 13 | $294.5M | 99 | ||
| 2021 Q1 | 12 | $288.9M | 27 | ||
| 2020 Q4 | 12 | $342.4M | 17 | ||
| 2020 Q3 | 11 | $314.1M | 23 | ||
| 2020 Q2 | 11 | $367.6M | 24 | ||
| 2020 Q1 | 13 | $310.9M | 14 | ||
| 2019 Q4 | 12 | $293.0M | 63 | ||
| 2019 Q3 | 10 | $260.4M | 36 | ||
| 2019 Q2 | 10 | $308.1M | 22 | ||
| 2019 Q1 | 12 | $370.1M | 39 | ||
| 2018 Q4 | 13 | $296.2M | 27 | ||
| 2018 Q3 | 14 | $389.1M | 26 | ||
| 2018 Q2 | 14 | $391.6M | 11 | ||
| 2018 Q1 | 16 | $412.2M | 61 | ||
| 2017 Q4 | 16 | $320.8M | 29 | ||
| 2017 Q3 | 14 | $320.8M | 18 | ||
| 2017 Q2 | 15 | $329.4M | 17 | ||
| 2017 Q1 | 15 | $310.1M | 38 | ||
| 2016 Q4 | 16 | $278.9M | 56 | ||
| 2016 Q3 | 17 | $276.7M | 19 | ||
| 2016 Q2 | 20 | $277.5M | 38 | ||
| 2016 Q1 | 22 | $278.7M | 15 | ||
| 2015 Q4 | 22 | $313.4M | 23 | ||
| 2015 Q3 | 23 | $276.3M | 22 | ||
| 2015 Q2 | 22 | $265.1M | 45 | ||
| 2015 Q1 | 23 | $219.6M | 30 | ||
| 2014 Q4 | 26 | $179.5M | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Krensavage Asset Management, LLC's most significant position changes for 2026-06-30: Sold out: Indivior Pharmaceuticals Inc (INDV); Sold out: Alkermes plc (ALKS); Add: Abbott Laboratories (ABT) — shares +3900.00%; Trim: United Therapeutics CORP (UTHR) — shares -17.80%; Add: Embecta CORP (EMBC) — shares +54.40%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ABT | Abbott Laboratories | +6.7% | +3900.00% | Add |
| 2 | JAZZ | Jazz Pharmaceuticals plc | +3% | — | Unchanged |
| 3 | RARE | Ultragenyx Pharmaceutical In | +1.8% | — | Unchanged |
| 4 | ENTA | Enanta Pharmaceuticals Inc | +1.7% | — | Unchanged |
| 5 | EXEL | Exelixis Inc | +0.7% | -10.83% | Trim |
| 6 | BIIB | Biogen Inc | +0.2% | — | Unchanged |
| 7 | REGN | Regeneron Pharmaceuticals | +0.2% | +50.00% | Add |
| 8 | EOLS | Evolus Inc | +0.2% | — | Unchanged |
| 9 | BNTX | Biontech Se-adr | 0% | — | Unchanged |
| 10 | INMD | InMode Ltd. | 0% | — | Unchanged |
| 11 | ARDX | Ardelyx Inc | -0.1% | +6.90% | Add |
| 12 | GSK | Gsk Plc-spon Adr | -0.2% | — | Unchanged |
| 13 | BMRN | Biomarin Pharmaceutical Inc | -0.2% | — | Unchanged |
| 14 | VNDA | Vanda Pharmaceuticals Inc | -0.5% | — | Unchanged |
| 15 | SUPN | Supernus Pharmaceuticals Inc | -0.7% | — | Unchanged |
| 16 | SNY | Sanofi-adr | -0.9% | — | Unchanged |
| 17 | EMBC | Embecta CORP | -1.1% | +54.40% | Add |
| 18 | ALKS | Alkermes plc | -1.5% | EXIT | Sold out |
| 19 | INDV | Indivior Pharmaceuticals Inc | -4.1% | EXIT | Sold out |
| 20 | UTHR | United Therapeutics CORP | -5.3% | -17.80% | Trim |
Filing History
FAQ
What is Krensavage Asset Management, LLC and what type of investor is it?
Krensavage Asset Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $263.2M, spread across 18 disclosed positions.
What are Krensavage Asset Management, LLC's largest equity positions?
Based on the latest 13F filing, Krensavage Asset Management, LLC's top holdings by market value are:
1. Enanta Pharmaceuticals Inc (ENTA) — $41.8M (15.9%)
2. Jazz Pharmaceuticals plc (JAZZ) — $40.4M (15.4%)
3. United Therapeutics CORP (UTHR) — $37.5M (14.3%)
4. Biomarin Pharmaceutical Inc (BMRN) — $30.0M (11.4%)
5. Exelixis Inc (EXEL) — $20.2M (7.7%)
What changes did Krensavage Asset Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Krensavage Asset Management, LLC made 8 notable position adjustments: 0 new positions were initiated, 4 existing holdings were added to, 2 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Indivior Pharmaceuticals Inc (INDV); Sold out: Alkermes plc (ALKS); Add: Abbott Laboratories (ABT) — shares +3900.00%; Trim: United Therapeutics CORP (UTHR) — shares -17.80%; Add: Embecta CORP (EMBC) — shares +54.40%
What sectors does Krensavage Asset Management, LLC focus on?
Krensavage Asset Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
Krensavage Asset Management, LLC returned an annualized 24.2% over the trailing 36 months — outperforming the S&P 500 by 12.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.54 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 29 over the past 4 quarters — a shift toward more active trading.
It has added to its JAZZ position over the past two quarters (+$11.9M, now $40.4M), while trimming VNDA over the same stretch (-$3.2M, still holding $7.2M).
Peer Institutions
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Sector conviction100.0
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SC
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IA
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Developer Access
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