PS
Patient Square Capital LP 13F Filings Tracker & Latest Positions (Q2 2026)
Patient Square Capital LPCIK: 0001819257
Sector-focusedContrarianConcentrated strategy
Total reported value
$645.5M
Reporting period: 2026-06-30 · Number of holdings: 23
Patient Square Capital LP disclosed 23 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $645.5M and a quarterly turnover rate of 56.2%.
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Personality snowflake
- Concentration
- 85.36
- Portfolio Stability
- 56.2
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 46
- Sizing Uniformity
- 79.79
Patient Square Capital LP's disclosed holdings carry a Herfindahl concentration index of 0.213 — mathematically equivalent to about 5 equally-sized positions, well below its 23 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.02), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 58% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy RVMD
Sold out INSM
Add ROIV
-1.8% $57.7M
Sold out LEGN
New buy UTHR
Sold out NKTR
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ROIV | Roivant Sciences Ltd. | Stock-Healthcare | 43.97% | +3.84% | -1.78% | |
| 2 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 8.01% | +8.01% | NEW | |
| 3 | MIRM | Mirum Pharmaceuticals Inc | Stock-Other | 4.72% | +0.95% | +13.26% | |
| 4 | ABVX | Abivax Sa-adr | Stock-Other | 4.26% | +1.86% | +70.32% | |
| 5 | ONC | Beone Medicines Ltd-adr | Stock-Other | 3.97% | -0.27% | +11.77% | |
| 6 | PHVS | Pharvaris N.V. | Stock-Other | 3.60% | +1.13% | +36.15% | |
| 7 | ARGX | Argenx Se - Adr | Stock-Healthcare | 3.31% | -1.45% | -37.36% | |
| 8 | UTHR | United Therapeutics CORP | Stock-Healthcare | 3.12% | +3.12% | NEW | |
| 9 | BLTE | Belite Bio Inc - Adr | Stock-Other | 2.62% | -0.68% | -5.73% | |
| 10 | COGT | Cogent Biosciences Inc | Stock-Other | 2.55% | -1.52% | -28.69% | |
| 11 | DBVT | Dbv Technologies Sa-spon Adr | Stock-Other | 2.31% | -0.26% | +31.14% | |
| 12 | XENE | Xenon Pharmaceuticals Inc | Stock-Other | 2.06% | -0.28% | -3.08% | |
| 13 | BNTX | Biontech Se-adr | Stock-Other | 1.94% | +1.94% | NEW | |
| 14 | RCUS | Arcus Biosciences Inc | Stock-Other | 1.70% | +0.95% | +82.46% | |
| 15 | ELVN | Enliven Therapeutics Inc | Stock-Other | 1.67% | +0.28% | +6.25% | |
| 16 | DNTH | Dianthus Therapeutics Inc | Stock-Other | 1.63% | +0.23% | +15.04% | |
| 17 | ALLO | Allogene Therapeutics Inc | Stock-Other | 1.63% | +0.14% | +46.38% | |
| 18 | EYPT | Eyepoint Inc | Stock-Other | 1.59% | -0.22% | -9.43% | |
| 19 | ARQT | Arcutis Biotherapeutics Inc | Stock-Other | 1.50% | -0.17% | -7.65% | |
| 20 | CCCC | C4 Therapeutics Inc | Stock-Other | 1.16% | +1.16% | NEW | |
| 21 | IVA | Inventiva SA - Adr | Stock-Other | 1.15% | +1.15% | NEW | |
| 22 | KYMR | Kymera Therapeutics Inc | Stock-Other | 0.84% | -0.64% | -52.50% | |
| 23 | FTH | Faeth Therapeutics Inc | Stock-Other | 0.68% | +0.68% | NEW |
Portfolio Performance
Performance for Q3 2026
+8.6%
Performance Last 4 Quarters
+100.2%
- Stdev
- +32.9%
- Beta
- +0.67
- Alpha
- +21.1%
- Max Drawdown
- -26%
- Annualized Perf
- +33.5%
- Batting Avg vs S&P
- +58.3%
- Sortino
- +1.87
- Stutzer
- +0.3
- Treynor
- +0.51
- Sterling
- +1.4
- Calmar
- +1.29
- Information Ratio
- +0.46
- Tracking Error
- +32%
- Stdev Down
- +18.5%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +148.3%
- Worst 12 Months
- -13.8%
- Efficiency Ratio
- +0.53
- Sharpe
- +1.05
- Stdev Sectors
- 0%
- Skewness
- -0.34
- Kurtosis
- +1.07
- Upside Potential
- +3.3
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 23 | $645.5M | 56 | ||
| 2026 Q1 | 29 | $563.6M | 51 | ||
| 2025 Q4 | 28 | $467.1M | 43 | ||
| 2025 Q3 | 24 | $373.9M | 61 | ||
| 2025 Q2 | 19 | $277.4M | 0 | ||
| 2025 Q1 | 19 | $241.7M | 0 | ||
| 2024 Q4 | 20 | $267.4M | 0 | ||
| 2024 Q3 | 11 | $269.4M | 0 | ||
| 2024 Q2 | 2 | $215.4M | 0 | ||
| 2024 Q1 | 2 | $234.8M | 0 | ||
| 2023 Q4 | 2 | $182.9M | 0 | 1ROIV2270087 | |
| 2023 Q3 | 2 | $182.0M | 0 | 1ROIV2270087 | |
| 2023 Q2 | 2 | $205.4M | 0 | 1ROIV2270087 | |
| 2023 Q1 | 2 | $124.4M | 0 | 12700872ROIV | |
| 2022 Q4 | 2 | $236.5B | 0 | 12700872ROIV |
Holding changes this quarter
Patient Square Capital LP's most significant position changes for 2026-06-30: New buy: Revolution Medicines Inc (RVMD); Sold out: Insmed Inc (INSM); New buy: United Therapeutics CORP (UTHR); Sold out: Legend Biotech Corp-adr (LEGN); Sold out: Nektar Therapeutics (NKTR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | RVMD | Revolution Medicines Inc | +8% | NEW | New buy |
| 2 | ROIV | Roivant Sciences Ltd. | +3.8% | -1.78% | Trim |
| 3 | UTHR | United Therapeutics CORP | +3.1% | NEW | New buy |
| 4 | BNTX | Biontech Se-adr | +1.9% | NEW | New buy |
| 5 | ABVX | Abivax Sa-adr | +1.9% | +70.32% | Add |
| 6 | CCCC | C4 Therapeutics Inc | +1.2% | NEW | New buy |
| 7 | IVA | Inventiva SA - Adr | +1.2% | NEW | New buy |
| 8 | PHVS | Pharvaris N.V. | +1.1% | +36.15% | Add |
| 9 | MIRM | Mirum Pharmaceuticals Inc | +1% | +13.26% | Add |
| 10 | RCUS | Arcus Biosciences Inc | +1% | +82.46% | Add |
| 11 | FTH | Faeth Therapeutics Inc | +0.7% | NEW | New buy |
| 12 | ELVN | Enliven Therapeutics Inc | +0.3% | +6.25% | Add |
| 13 | DNTH | Dianthus Therapeutics Inc | +0.2% | +15.04% | Add |
| 14 | ALLO | Allogene Therapeutics Inc | +0.1% | +46.38% | Add |
| 15 | SYRE | Spyre Therapeutics Inc | 0% | EXIT | Sold out |
| 16 | ARQT | Arcutis Biotherapeutics Inc | -0.2% | -7.65% | Trim |
| 17 | EYPT | Eyepoint Inc | -0.2% | -9.43% | Trim |
| 18 | DBVT | Dbv Technologies Sa-spon Adr | -0.3% | +31.14% | Add |
| 19 | ONC | Beone Medicines Ltd-adr | -0.3% | +11.77% | Add |
| 20 | XENE | Xenon Pharmaceuticals Inc | -0.3% | -3.08% | Trim |
| 21 | KYMR | Kymera Therapeutics Inc | -0.6% | -52.50% | Trim |
| 22 | ASMB | Assembly Biosciences Inc | -0.7% | EXIT | Sold out |
| 23 | BLTE | Belite Bio Inc - Adr | -0.7% | -5.73% | Trim |
| 24 | CTMX | Cytomx Therapeutics Inc | -0.9% | EXIT | Sold out |
| 25 | TARA | Protara Therapeutic Inc | -1% | EXIT | Sold out |
| 26 | HROW | Harrow Inc | -1% | EXIT | Sold out |
| 27 | DFTX | Definium Therapeutics Inc | -1.1% | EXIT | Sold out |
| 28 | CATX | Perspective Therapeutics Inc | -1.2% | EXIT | Sold out |
| 29 | ARGX | Argenx Se - Adr | -1.5% | -37.36% | Trim |
| 30 | COGT | Cogent Biosciences Inc | -1.5% | -28.69% | Trim |
| 31 | MRK | Merck & Co. Inc. | -1.7% | EXIT | Sold out |
| 32 | CELC | Celcuity Inc | -1.9% | EXIT | Sold out |
| 33 | NKTR | Nektar Therapeutics | -2.7% | EXIT | Sold out |
| 34 | LEGN | Legend Biotech Corp-adr | -3.2% | EXIT | Sold out |
| 35 | INSM | Insmed Inc | -4.6% | EXIT | Sold out |
Filing History
FAQ
What is Patient Square Capital LP and what type of investor is it?
Patient Square Capital LP 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 $645.5M, spread across 23 disclosed positions.
What are Patient Square Capital LP's largest equity positions?
Based on the latest 13F filing, Patient Square Capital LP's top holdings by market value are:
1. Roivant Sciences Ltd. (ROIV) — $283.9M (44.0%)
2. Revolution Medicines Inc (RVMD) — $51.7M (8.0%)
3. Mirum Pharmaceuticals Inc (MIRM) — $30.5M (4.7%)
4. Abivax Sa-adr (ABVX) — $27.5M (4.3%)
5. Beone Medicines Ltd-adr (ONC) — $25.7M (4.0%)
What changes did Patient Square Capital LP make in its most recent portfolio filing?
In the latest reported quarter, Patient Square Capital LP made 35 notable position adjustments: 6 new positions were initiated, 9 existing holdings were added to, 8 positions were partially reduced, and 12 were completely exited. The largest of these moves: New buy: Revolution Medicines Inc (RVMD); Sold out: Insmed Inc (INSM); New buy: United Therapeutics CORP (UTHR); Sold out: Legend Biotech Corp-adr (LEGN); Sold out: Nektar Therapeutics (NKTR)
What sectors does Patient Square Capital LP focus on?
Patient Square Capital LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
Patient Square Capital LP returned an annualized 33.5% over the trailing 36 months — outperforming the S&P 500 by 21.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.67 (less volatile than the market) and a 58% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 56 over the past 4 quarters — a shift toward more active trading.
It has added to its ROIV position over the past two quarters (+$106.7M, now $283.9M), while trimming KYMR over the same stretch (-$5.4M, still holding $5.4M).
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Developer Access
Access Patient Square Capital LP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/patient-square-capital-lpCLI
npx alphasmo institutions get patient-square-capital-lp