CIK: 0001442756
Total reported value
$1.1B
Reporting period: 2026-03-31 · Number of holdings: 83
PFM Health Sciences, LP disclosed 83 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.1B and a quarterly turnover rate of 68.0%.
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PFM Health Sciences, LP's disclosed holdings carry a Herfindahl concentration index of 0.028 — mathematically equivalent to about 36 equally-sized positions, well below its 83 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 1.11), 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.
Sector classification currently covers about 60% 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.
Trim CNC
-76.0% -$36.5M
Add UTHR
+73.3% $36.6M
Add JAZZ
+252.7% $25.1M
Trim LLY
-3.7% -$12.9M
Trim TMO
-60.9% -$14.7M
Trim ICLR
-50.1% -$14.7M
Showing top 79 holdings (of 83 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | THC | Tenet Healthcare CORP | Stock-Healthcare | 6.86% | — | +0.20% | |
| 2 | UTHR | United Therapeutics CORP | Stock-Healthcare | 6.35% | +3.06% | +73.31% | |
| 3 | LLY | Eli Lilly & Co | Stock-Healthcare | 5.52% | -1.80% | -3.70% | |
| 4 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 5.30% | +5.30% | NEW | |
| 5 | PEN | Penumbra INC | Stock-Healthcare | 4.19% | — | -3.71% | |
| 6 | AXSM | Axsome Therapeutics INC | Stock-Healthcare | 4.07% | — | +5.07% | |
| 7 | ASND | Ascendis Pharma A/S | Stock-Other | 3.64% | — | -1.83% | |
| 8 | XLV | Ss Health Care Select Sector | ETF-Other | 3.19% | +3.19% | NEW | |
| 9 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 3.07% | +2.21% | +252.68% | |
| 10 | NBIX | Neurocrine Biosciences INC | Stock-Healthcare | 2.59% | +0.28% | +32.16% | |
| 11 | GKOS | Glaukos CORP | Stock-Healthcare | 2.12% | — | +6.95% | |
| 12 | 260 | Centessa Pharmaceuticals-adr | Stock-Other | 1.91% | +0.43% | -10.71% | |
| 13 | INBX | Inhibrx Biosciences INC | Stock-Other | 1.87% | — | +15.03% | |
| 14 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 1.86% | — | +3.11% | |
| 15 | BBIO | Bridgebio Pharma INC | Stock-Healthcare | 1.75% | -0.59% | -15.91% | |
| 16 | MDGL | Madrigal Pharmaceuticals INC | Stock-Healthcare | 1.63% | +1.21% | +370.46% | |
| 17 | INDV | Indivior Pharmaceuticals INC | Stock-Other | 1.60% | +1.60% | NEW | |
| 18 | ASND 2.25 04-01-28 | Ascendis Pharma A/s | Stock-Other | 1.54% | — | +7.98% | |
| 19 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.43% | — | +14.84% | |
| 20 | DNTH | Dianthus Therapeutics INC | Stock-Other | 1.32% | +0.91% | +72.87% | |
| 21 | ABT | Abbott Laboratories | Stock-Healthcare | 1.31% | +1.31% | NEW | |
| 22 | RVMD | Revolution Medicines INC | Stock-Healthcare | 1.25% | — | -7.05% | |
| 23 | ACHC | Acadia Healthcare Co INC | Stock-Other | 1.24% | +1.24% | NEW | |
| 24 | NEO | Neogenomics INC | Stock-Healthcare | 1.21% | -0.78% | +5.34% | |
| 25 | COO | Cooper Cos Inc/the | Stock-Healthcare | 1.11% | — | +68.48% | |
| 26 | NTRA | Natera INC | Stock-Healthcare | 1.09% | +1.09% | NEW | |
| 27 | ITGR | Integer Holdings CORP | Stock-Healthcare | 1.08% | — | +26.74% | |
| 28 | RYTM | Rhythm Pharmaceuticals INC | Stock-Other | 1.08% | +0.65% | +239.77% | |
| 29 | WAT | Waters CORP | Stock-Healthcare | 1.08% | -0.56% | -7.97% | |
| 30 | AMRX | Amneal Pharmaceuticals INC | Stock-Other | 1.05% | -0.79% | -36.53% | |
| 31 | PRAX | Praxis Precision Medicines I | Stock-Other | 1.04% | — | +13.72% | |
| 32 | HSIC | Henry Schein INC | Stock-Healthcare | 1.03% | +1.03% | NEW | |
| 33 | CGON | Cg Oncology INC | Stock-Other | 1.02% | +0.34% | +1.19% | |
| 34 | MMSI | Merit Medical Systems INC | Stock-Healthcare | 1.02% | +1.02% | NEW | |
| 35 | CLDX | Celldex Therapeutics INC | Stock-Other | 0.94% | +0.58% | +144.03% | |
| 36 | BLTE | Belite Bio INC - Adr | Stock-Other | 0.86% | +0.54% | +199.81% | |
| 37 | DXCM | Dexcom INC | Stock-Healthcare | 0.86% | -0.64% | -34.14% | |
| 38 | 430 | Terns Pharmaceuticals INC | Stock-Other | 0.83% | +0.83% | NEW | |
| 39 | CNC | Centene CORP | Stock-Healthcare | 0.79% | -3.71% | -76.00% | |
| 40 | VKTX | Viking Therapeutics INC | Stock-Healthcare | 0.78% | — | +39.24% | |
| 41 | ORKA | Oruka Therapeutics INC | Stock-Other | 0.78% | +0.78% | NEW | |
| 42 | TNGX | Tango Therapeutics INC | Stock-Other | 0.77% | +0.77% | NEW | |
| 43 | HCA | Hca Healthcare INC | Stock-Healthcare | 0.77% | — | +29.47% | |
| 44 | SLNOEUR | Soleno Therapeutics INC | Stock-Other | 0.76% | — | +0.12% | |
| 45 | BTSG | Brightspring Health Services | Stock-Other | 0.73% | — | +58.06% | |
| 46 | CMPS | Compass Pathways PLC | Stock-Other | 0.69% | — | +75.36% | |
| 47 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.66% | -1.53% | -60.88% | |
| 48 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.66% | +0.66% | NEW | |
| 49 | SYK | Stryker CORP | Stock-Healthcare | 0.66% | -1.12% | -56.82% | |
| 50 | VERA | Vera Therapeutics INC | Stock-Other | 0.64% | — | +62.38% |
Performance for Q3 2026
+14%
Performance Last 4 Quarters
+57.6%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 83 | $1.1B | 68 | |
| 2025-12-31 | 78 | $1.0B | 88 | |
| 2025-09-30 | 72 | $1.3B | 93 | |
| 2025-06-30 | 57 | $1.2B | 0 | |
| 2025-03-31 | 66 | $1.4B | 100 | |
| 2024-12-31 | 83 | $1.6B | 0 | |
| 2024-09-30 | 75 | $1.8B | 0 | |
| 2024-06-30 | 78 | $2.0B | 0 | |
| 2024-03-31 | 87 | $2.1B | 0 | |
| 2023-12-31 | 65 | $1.7B | 0 | |
| 2023-09-30 | 73 | $2.1B | 0 | |
| 2023-06-30 | 83 | $2.6B | 0 | |
| 2023-03-31 | 78 | $2.3B | 0 | |
| 2022-12-31 | 89 | $2.8B | 0 | |
| 2022-09-30 | 85 | $2.8B | 0 | |
| 2022-06-30 | 80 | $2.6B | 0 | |
| 2022-03-31 | 68 | $2.7B | 0 | |
| 2021-12-31 | 71 | $2.9B | 0 | |
| 2021-09-30 | 85 | $3.4B | 0 | |
| 2021-06-30 | 84 | $3.2B | 41 | |
| 2021-03-31 | 86 | $3.3B | 67 | |
| 2020-12-31 | 85 | $2.8B | 80 | |
| 2020-09-30 | 77 | $2.2B | 73 | |
| 2020-06-30 | 76 | $1.9B | 88 | |
| 2020-03-31 | 61 | $1.2B | 100 | |
| 2019-12-31 | 61 | $2.1B | 100 | |
| 2019-09-30 | 72 | $3.4B | 100 | |
| 2019-06-30 | 85 | $5.3B | 78 | |
| 2019-03-31 | 90 | $4.5B | 98 | |
| 2018-12-31 | 94 | $3.8B | 100 | |
| 2018-09-30 | 117 | $6.8B | 66 | |
| 2018-06-30 | 122 | $6.4B | 69 | |
| 2018-03-31 | 94 | $4.9B | 77 | |
| 2017-12-31 | 81 | $4.2B | 74 | |
| 2017-09-30 | 89 | $5.1B | 91 | |
| 2017-06-30 | 90 | $3.7B | 100 | |
| 2017-03-31 | 99 | $4.0B | 100 | |
| 2016-12-31 | 93 | $3.5B | 97 | |
| 2016-09-30 | 85 | $3.4B | 100 | |
| 2016-06-30 | 81 | $3.3B | 100 | |
| 2016-03-31 | 82 | $3.2B | 96 | |
| 2015-12-31 | 67 | $3.3B | 88 | |
| 2015-09-30 | 75 | $3.6B | 77 | |
| 2015-06-30 | 87 | $3.9B | 90 | |
| 2015-03-31 | 83 | $3.6B | 90 | |
| 2014-12-31 | 92 | $4.3B | 95 | |
| 2014-09-30 | 66 | $4.3B | 59 | |
| 2014-06-30 | 64 | $5.0B | 93 | |
| 2014-03-31 | 72 | $5.5B | 100 | |
| 2013-12-31 | 61 | $5.0B | 93 | |
| 2013-09-30 | 73 | $4.2B | 80 | |
| 2013-06-30 | 74 | $4.8B | 99 |
PFM Health Sciences, LP's most significant position changes for 2026-03-31: New buy: Ss Spdr S&p Biotech ETF (XBI); New buy: Ss Health Care Select Sector (XLV); Sold out: Adma Biologics INC (ADMA); Sold out: Medtronic plc (MDT); Sold out: Merck & Co. INC. (MRK).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | UTHR | United Therapeutics CORP | +3.1% | +73.31% | Add |
| 2 | JAZZ | Jazz Pharmaceuticals plc | +2.2% | +252.68% | Add |
| 3 | MDGL | Madrigal Pharmaceuticals INC | +1.2% | +370.46% | Add |
| 4 | DNTH | Dianthus Therapeutics INC | +0.9% | +72.87% | Add |
| 5 | RYTM | Rhythm Pharmaceuticals INC | +0.7% | +239.77% | Add |
| 6 | CLDX | Celldex Therapeutics INC | +0.6% | +144.03% | Add |
| 7 | BLTE | Belite Bio INC - Adr | +0.5% | +199.81% | Add |
| 8 | 260 | Centessa Pharmaceuticals-adr | +0.4% | -10.71% | Trim |
| 9 | CGON | Cg Oncology INC | +0.3% | +1.19% | Add |
| 10 | NBIX | Neurocrine Biosciences INC | +0.3% | +32.16% | Add |
| 11 | WAT | Waters CORP | -0.6% | -7.97% | Trim |
| 12 | BBIO | Bridgebio Pharma INC | -0.6% | -15.91% | Trim |
| 13 | DXCM | Dexcom INC | -0.6% | -34.14% | Trim |
| 14 | CAH | Cardinal Health INC | -0.7% | -48.76% | Trim |
| 15 | NEO | Neogenomics INC | -0.8% | +5.34% | Add |
| 16 | AMRX | Amneal Pharmaceuticals INC | -0.8% | -36.53% | Trim |
| 17 | SYK | Stryker CORP | -1.1% | -56.82% | Trim |
| 18 | ICLR | ICON Public Limited Company | -1.5% | -50.15% | Trim |
| 19 | TMO | Thermo Fisher Scientific INC | -1.5% | -60.88% | Trim |
| 20 | LLY | Eli Lilly & Co | -1.8% | -3.70% | Trim |
| 21 | CNC | Centene CORP | -3.7% | -76.00% | Trim |
| 22 | XBI | Ss Spdr S&p Biotech ETF | — | NEW | New buy |
| 23 | XLV | Ss Health Care Select Sector | — | NEW | New buy |
| 24 | ADMA | Adma Biologics INC | — | EXIT | Sold out |
| 25 | MDT | Medtronic plc | — | EXIT | Sold out |
| 26 | MRK | Merck & Co. INC. | — | EXIT | Sold out |
| 27 | INDV | Indivior Pharmaceuticals INC | — | NEW | New buy |
| 28 | ABT | Abbott Laboratories | — | NEW | New buy |
| 29 | ACHC | Acadia Healthcare Co INC | — | NEW | New buy |
| 30 | INDV | Indivior Pharmaceuticals, Inc. | — | EXIT | Sold out |
| 31 | UHS | Universal Health Services-b | — | EXIT | Sold out |
| 32 | TFX | Teleflex INC | — | EXIT | Sold out |
| 33 | NTRA | Natera INC | — | NEW | New buy |
| 34 | HSIC | Henry Schein INC | — | NEW | New buy |
| 35 | MMSI | Merit Medical Systems INC | — | NEW | New buy |
| 36 | 430 | Terns Pharmaceuticals INC | — | NEW | New buy |
| 37 | ISRG | Intuitive Surgical INC | — | EXIT | Sold out |
| 38 | GILD | Gilead Sciences INC | — | EXIT | Sold out |
| 39 | CVS | Cvs Health CORP | — | EXIT | Sold out |
| 40 | SNY | Sanofi-adr | — | EXIT | Sold out |
| 41 | ORKA | Oruka Therapeutics INC | — | NEW | New buy |
| 42 | IQV | Iqvia Holdings INC | — | EXIT | Sold out |
| 43 | TNGX | Tango Therapeutics INC | — | NEW | New buy |
| 44 | VEEV | Veeva Systems Inc-class A | — | EXIT | Sold out |
| 45 | NVO | Novo-nordisk A/s-spons Adr | — | NEW | New buy |
| 46 | ALGN | Align Technology INC | — | EXIT | Sold out |
| 47 | ALHC | Alignment Healthcare INC | — | NEW | New buy |
| 48 | ROIV | Roivant Sciences Ltd. | — | NEW | New buy |
| 49 | ELAN | Elanco Animal Health INC | — | EXIT | Sold out |
| 50 | KOD | Kodiak Sciences INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-19 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-21 | Amendment | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2014-02-21 | Amendment | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2014-02-21 | Amendment | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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