Sarissa Capital Management LP

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$157.6M

Reporting period: 2026-03-31 · Number of holdings: 9

Sarissa Capital Management LP disclosed 9 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $157.6M and a quarterly turnover rate of 35.9%.

Personality snowflake

Concentration: 76.42
Portfolio Stability: 35.94
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 18
Sizing Uniformity: 91

Recent moves

Trim NBIX
-61.6%　-$27.6M
Add INVA
-24.3%　-$6.6M
Add AMRN
0.0%　$845.1K
Trim IRWD
-42.3%　-$21.4M
Add LNTH
-8.0%　$585.3K
Trim CYTK
-42.3%　-$10.1M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	INVA	Innoviva INC	Stock-Other	31.50%	+6.25%	-24.33%
2	IRWD	Ironwood Pharmaceuticals INC	Stock-Other	20.46%	-3.61%	-42.28%
3	AMRN	Amarin CORP PLC -adr	Stock-Other	15.35%	+4.87%	—
4	NBIX	Neurocrine Biosciences INC	Stock-Healthcare	9.74%	-9.55%	-61.56%
5	CYTK	Cytokinetics INC	Stock-Healthcare	9.56%	-1.74%	-42.32%
6	LNTH	Lantheus Holdings INC	Stock-Healthcare	8.03%	+2.61%	-8.01%
7	BHVN	Biohaven Ltd.	Stock-Other	3.02%	+0.42%	+9.74%
8	REGN	Regeneron Pharmaceuticals	Stock-Healthcare	2.05%	+0.60%	—
9	VOR	Vor Biopharma INC	Stock-Other	0.29%	+0.14%	—

Portfolio Performance

Performance for Q3 2026

+12.2%

Performance Last 4 Quarters

+22.7%

Based on 80% of reported portfolio value with available pricing

Stdev: +19.9%
Beta: +0.53
Alpha: -4.1%
Max Drawdown: -20.3%
Annualized Perf: +3.8%
Batting Avg vs S&P: +41.7%
Sortino: +0.49
Stutzer: +0.08
Treynor: +0.11
Sterling: +0.17
Calmar: +0.19
Information Ratio: -0.65
Tracking Error: +19.7%
Stdev Down: +11.5%
Winning Months %: +47.2%
Losing Months %: +52.8%
Best 12 Months: +36.7%
Worst 12 Months: -16.8%
Efficiency Ratio: +0.08
Sharpe: +0.28
Stdev Sectors: 0%
Skewness: +0.62
Kurtosis: +0.4
Upside Potential: +2.54

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	9	$157.6M	36	1INVA 2IRWD 3AMRN Top holdings2026-03-31 1.INVA 2.IRWD 3.AMRN 4.NBIX 5.CYTK 6.LNTH 7.BHVN 8.REGN 9.VOR
2025-12-31	9	$222.9M	29	1INVA 2IRWD 3NBIX Top holdings2025-12-31 1.INVA 2.IRWD 3.NBIX 4.CYTK 5.AMRN 6.LNTH 7.BHVN 8.REGN 9.VOR
2025-09-30	8	$180.4M	33	1INVA 2NBIX 3CYTK Top holdings2025-09-30 1.INVA 2.NBIX 3.CYTK 4.IRWD 5.AMRN 6.LNTH 7.REGN 8.VOR
2025-06-30	7	$154.4M	0	1INVA 2NBIX 3AMRN Top holdings2025-06-30 1.INVA 2.NBIX 3.AMRN 4.CYTK 5.IRWD 6.LNTH 7.VOR
2025-03-31	7	$154.7M	100	1INVA 2NBIX 3CYTK Top holdings2025-03-31 1.INVA 2.NBIX 3.CYTK 4.IRWD 5.023111 6.LNTH 7.VOR
2024-12-31	8	$322.9M	0	1INVA 2IRWD 3NBIX Top holdings2024-12-31 1.INVA 2.IRWD 3.NBIX 4.CYTK 5.GILD 6.023111 7.LNTH 8.VOR
2024-09-30	10	$402.3M	0	1INVA 2IRWD 3GILD Top holdings2024-09-30 1.INVA 2.IRWD 3.GILD 4.CYTK 5.NBIX 6.023111 7.BIIB 8.LNTH 9.VOR 10.RGLS
2024-06-30	10	$592.4M	0	1BIIB 2INVA 3IRWD Top holdings2024-06-30 1.BIIB 2.INVA 3.IRWD 4.GILD 5.CYTK 6.NBIX 7.023111 8.BCRX 9.VOR 10.RGLS
2024-03-31	10	$571.6M	0	1IRWD 2BIIB 3INVA Top holdings2024-03-31 1.IRWD 2.BIIB 3.INVA 4.GILD 5.NBIX 6.023111 7.CYTK 8.BCRX 9.VOR 10.RGLS
2023-12-31	9	$648.9M	0	1IRWD 2BIIB 3INVA Top holdings2023-12-31 1.IRWD 2.BIIB 3.INVA 4.GILD 5.NBIX 6.023111 7.BCRX 8.VOR 9.RGLS
2023-09-30	11	$742.4M	0	1ALKS 2BIIB 3IRWD Top holdings2023-09-30 1.ALKS 2.BIIB 3.IRWD 4.INVA 5.GILD 6.NBIX 7.023111 8.BCRX 9.VOR 10.59045L
2023-06-30	11	$1.0B	0	1ALKS 2BIIB 3IRWD Top holdings2023-06-30 1.ALKS 2.BIIB 3.IRWD 4.INVA 5.GILD 6.NBIX 7.59045L 8.023111 9.BCRX 10.VOR
2023-03-31	11	$781.9M	0	1ALKS 2BIIB 3IRWD Top holdings2023-03-31 1.ALKS 2.BIIB 3.IRWD 4.INVA 5.GILD 6.59045L 7.023111 8.BCRX 9.VOR 10.RGLS
2022-12-31	11	$840.2M	0	1ALKS 2IRWD 3BIIB Top holdings2022-12-31 1.ALKS 2.IRWD 3.BIIB 4.GILD 5.INVA 6.59045L 7.BCRX 8.023111 9.VOR 10.704723
2022-09-30	11	$884.8M	0	1ALKS 2BIIB 3IRWD Top holdings2022-09-30 1.ALKS 2.BIIB 3.IRWD 4.GILD 5.INVA 6.59045L 7.023111 8.BCRX 9.VOR 10.704723
2022-06-30	11	$993.5M	0	1ALKS 2IRWD 3BIIB Top holdings2022-06-30 1.ALKS 2.IRWD 3.BIIB 4.INVA 5.GILD 6.023111 7.59045L 8.BCRX 9.VOR 10.704723
2022-03-31	11	$1.1B	0	1ALKS 2IRWD 3BIIB Top holdings2022-03-31 1.ALKS 2.IRWD 3.BIIB 4.INVA 5.GILD 6.023111 7.BCRX 8.59045L 9.VOR 10.704723
2021-12-31	11	$1.2B	0	1ALKS 2GILD 3IRWD Top holdings2021-12-31 1.ALKS 2.GILD 3.IRWD 4.BIIB 5.INVA 6.023111 7.BCRX 8.59045L 9.VOR 10.704723
2021-09-30	10	$1.3B	0	1ALKS 2IRWD 3GILD Top holdings2021-09-30 1.ALKS 2.IRWD 3.GILD 4.BIIB 5.INVA 6.BCRX 7.023111 8.59045L 9.VOR 10.RGLSUSD
2021-06-30	14	$1.3B	25	1ALKS 2BIIB 3IRWD Top holdings2021-06-30 1.ALKS 2.BIIB 3.IRWD 4.GILD 5.ALXN 6.INVA 7.BCRX 8.59045L 9.VOR 10.G7823W
2021-03-31	14	$1.0B	47	1IRWD 2BIIB 3GILD Top holdings2021-03-31 1.IRWD 2.BIIB 3.GILD 4.ALKS 5.ALXN 6.BCRX 7.INVA 8.59045L 9.VOR 10.G7823W
2020-12-31	12	$979.8M	31	1IRWD 2ALKS 3BIIB Top holdings2020-12-31 1.IRWD 2.ALKS 3.BIIB 4.JAZZ 5.ALXN 6.INVA 7.59045L 8.BCRX 9.G7823W 10.RGLSUSD
2020-09-30	11	$849.4M	19	1BIIB 2JAZZ 3ALKS Top holdings2020-09-30 1.BIIB 2.JAZZ 3.ALKS 4.IRWD 5.ALXN 6.INVA 7.59045L 8.ICPTUSD 9.BCRX 10.RGLSUSD
2020-06-30	12	$898.9M	44	1BIIB 2ALKS 3IRWD Top holdings2020-06-30 1.BIIB 2.ALKS 3.IRWD 4.JAZZ 5.INVA 6.ALXN 7.59045L 8.ICPTUSD 9.ABBV 10.BCRX
2020-03-31	12	$783.8M	55	1BIIB 2IRWD 3ALKS Top holdings2020-03-31 1.BIIB 2.IRWD 3.ALKS 4.G0177J 5.JAZZ 6.INVA 7.ICPTUSD 8.59045L 9.ALXN 10.RGLSUSD
2019-12-31	13	$1.2B	61	1MDCOUSD 2BIIB 3IRWD Top holdings2019-12-31 1.MDCOUSD 2.BIIB 3.IRWD 4.ICPTUSD 5.G0177J 6.INVA 7.ALKS 8.MDCO 3.5 01-15-24 9.JAZZ 10.59045L
2019-09-30	12	$797.9M	16	1MDCOUSD2G0177J3BIIB Top holdings2019-09-30 1.MDCOUSD 2.G0177J 3.BIIB 4.IRWD 5.INVA 6.ICPTUSD 7.JAZZ 8.PBYI 9.59045L 10.RGLSUSD
2019-06-30	13	$802.2M	30	1G0177J2MDCOUSD 3BIIB Top holdings2019-06-30 1.G0177J 2.MDCOUSD 3.BIIB 4.IRWD 5.INVA 6.ICPTUSD 7.JAZZ 8.PBYI 9.59045L 10.CYCNUSD
2019-03-31	11	$664.3M	45	1G0177J2BIIB 3IRWD Top holdings2019-03-31 1.G0177J 2.BIIB 3.IRWD 4.MDCOUSD 5.INVA 6.PBYI 7.ICPTUSD 8.59045L 9.JAZZ 10.ABBV
2018-12-31	10	$451.2M	25	1BIIB 2INVA3G0177J Top holdings2018-12-31 1.BIIB 2.INVA 3.G0177J 4.IRWD 5.MDCOUSD 6.PBYI 7.ICPTUSD 8.82481R 9.ABBV 10.MRTXEUR
2018-09-30	9	$453.3M	28	1BIIB 2INVA3G0177J Top holdings2018-09-30 1.BIIB 2.INVA 3.G0177J 4.IRWD 5.MDCOUSD 6.ICPTUSD 7.QLTUSD 8.82481R 9.ABBV
2018-06-30	10	$498.8M	15	1BIIB 2MDCOUSD 3IRWD Top holdings2018-06-30 1.BIIB 2.MDCOUSD 3.IRWD 4.INVA 5.G0177J 6.ICPTUSD 7.82481R 8.QLTUSD 9.03832V 10.ABBV
2018-03-31	11	$432.1M	54	1BIIB 2MDCOUSD 3INVA Top holdings2018-03-31 1.BIIB 2.MDCOUSD 3.INVA 4.G0177J 5.IRWD 6.82481R 7.ICPTUSD 8.QLTUSD 9.ACHNEUR 10.03832V
2017-12-31	11	$390.7M	67	1BIIB209075E3MDCOUSD Top holdings2017-12-31 1.BIIB 2.09075E 3.MDCOUSD 4.INVA 5.G0177J 6.IRWD 7.ICPTUSD 8.ACHNEUR 9.QLTUSD 10.03832V
2017-09-30	9	$324.0M	13	1BIIB209075r3MDCOUSD Top holdings2017-09-30 1.BIIB 2.09075r 3.MDCOUSD 4.INVA 5.ACHNEUR 6.QLTUSD 7.03832V 8.007624 9.ABBV
2017-06-30	8	$299.6M	48	1BIIB209075r3MDCOUSD Top holdings2017-06-30 1.BIIB 2.09075r 3.MDCOUSD 4.INVA 5.QLTUSD 6.007624 7.03832V 8.ABBV
2017-03-31	11	$253.1M	71	1MDCOUSD 2BIIB 3INVA Top holdings2017-03-31 1.MDCOUSD 2.BIIB 3.INVA 4.QLTUSD 5.09075E 6.ITCIEUR 7.03832V 8.928551 9.007624 10.ABBV
2016-12-31	11	$363.1M	34	104033A2BIIB 3MDCOUSD Top holdings2016-12-31 1.04033A 2.BIIB 3.MDCOUSD 4.INVA 5.QLTUSD 6.ITCIEUR 7.007624 8.928551 9.03832V 10.AVEOEUR
2016-09-30	14	$434.2M	51	104033A2BIIB 3MDCOUSD Top holdings2016-09-30 1.04033A 2.BIIB 3.MDCOUSD 4.ARRYEUR 5.PCRX 6.INVA 7.ITCIEUR 8.00767E 9.007624 10.03832V
2016-06-30	15	$352.3M	49	104033A2BIIB 3MDCOUSD Top holdings2016-06-30 1.04033A 2.BIIB 3.MDCOUSD 4.ITCIEUR 5.PCRX 6.75382F 7.ARRYEUR 8.DGX 9.PRGO 10.03832V
2016-03-31	16	$453.8M	22	1ABBV204033A3BIIB Top holdings2016-03-31 1.ABBV 2.04033A 3.BIIB 4.MDCOUSD 5.DGX 6.PCRX 7.ITCIEUR 8.75382F 9.ESPR 10.00767E
2015-12-31	17	$514.4M	44	1BIIB 2ABBV304033A Top holdings2015-12-31 1.BIIB 2.ABBV 3.04033A 4.MDCOUSD 5.DGX 6.PCRX 7.ITCIEUR 8.00767E 9.AMGN 10.ESPR
2015-09-30	18	$404.9M	36	1ABBV204033A3MDCOUSD Top holdings2015-09-30 1.ABBV 2.04033A 3.MDCOUSD 4.DGX 5.00767E 6.ITCIEUR 7.MRK 8.PCRX 9.AMGN 10.ESPR
2015-06-30	16	$434.6M	18	104033A2ABBV 3DGX Top holdings2015-06-30 1.04033A 2.ABBV 3.DGX 4.MDCOUSD 5.00767E 6.AMGN 7.MRK 8.ITCIEUR 9.03832V 10.76028H
2015-03-31	17	$474.1M	69	104033A2ABBV 3DGX Top holdings2015-03-31 1.04033A 2.ABBV 3.DGX 4.AMGN 5.00767E 6.MDCOUSD 7.MRK 8.338488 9.03832V 10.76028H
2014-12-31	16	$282.5M	39	104033A2DGX 3AMGN Top holdings2014-12-31 1.04033A 2.DGX 3.AMGN 4.MRK 5.A 6.09057G 7.76028H 8.928551 9.ITCIEUR 10.KIN1USD
2014-09-30	14	$258.9M	42	104033A2DGX309057G Top holdings2014-09-30 1.04033A 2.DGX 3.09057G 4.A 5.MRK 6.AMGN 7.76028H 8.928551 9.ITCIEUR 10.ENTA
2014-06-30	15	$294.1M	28	104033A245166R3DGX Top holdings2014-06-30 1.04033A 2.45166R 3.DGX 4.09057G 5.MRK 6.76028H 7.928551 8.AMGN 9.AVEOEUR 10.ENTA
2014-03-31	15	$290.4M	43	104033A2DGX309057G Top holdings2014-03-31 1.04033A 2.DGX 3.09057G 4.45166R 5.MRK 6.G5785G 7.928551 8.76028H 9.AVEOEUR 10.50540R
2013-12-31	12	$267.0M	0	104033A2DGX345166R Top holdings2013-12-31 1.04033A 2.DGX 3.45166R 4.928551 5.MRK 6.G5785G 7.BMY 8.ABBV 9.PFE 10.76028H

Holding changes this quarter

Sarissa Capital Management LP's most significant position changes for 2026-03-31: Trim: Neurocrine Biosciences INC (NBIX) — shares -61.56%; Trim: Innoviva INC (INVA) — shares -24.33%; Trim: Ironwood Pharmaceuticals INC (IRWD) — shares -42.28%; Trim: Lantheus Holdings INC (LNTH) — shares -8.01%; Trim: Cytokinetics INC (CYTK) — shares -42.32%.

Position changes disclosed by Sarissa Capital Management LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	INVA	Innoviva INC	+6.3%	-24.33%	Trim
2	AMRN	Amarin CORP PLC -adr	+4.9%	—	Unchanged
3	LNTH	Lantheus Holdings INC	+2.6%	-8.01%	Trim
4	REGN	Regeneron Pharmaceuticals	+0.6%	—	Unchanged
5	BHVN	Biohaven Ltd.	+0.4%	+9.74%	Add
6	VOR	Vor Biopharma INC	+0.1%	—	Unchanged
7	CYTK	Cytokinetics INC	-1.7%	-42.32%	Trim
8	IRWD	Ironwood Pharmaceuticals INC	-3.6%	-42.28%	Trim
9	NBIX	Neurocrine Biosciences INC	-9.6%	-61.56%	Trim

FAQ

What is Sarissa Capital Management LP and what type of investor is it?

Sarissa Capital Management LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $157.6M, spread across 9 disclosed positions.

What are Sarissa Capital Management LP's largest equity positions?

Based on the latest 13F filing, Sarissa Capital Management LP's top holdings by market value are: 1. Innoviva INC (INVA) — $49.7M (31.5%) 2. Ironwood Pharmaceuticals INC (IRWD) — $32.3M (20.5%) 3. Amarin CORP PLC -adr (AMRN) — $24.2M (15.3%) 4. Neurocrine Biosciences INC (NBIX) — $15.4M (9.7%) 5. Cytokinetics INC (CYTK) — $15.1M (9.6%)

What changes did Sarissa Capital Management LP make in its most recent portfolio filing?

In the latest reported quarter, Sarissa Capital Management LP made 6 notable position adjustments: 0 new positions were initiated, 1 existing holdings were added to, 5 positions were partially reduced, and 0 were completely exited. The largest of these moves: Trim: Neurocrine Biosciences INC (NBIX) — shares -61.56%; Trim: Innoviva INC (INVA) — shares -24.33%; Trim: Ironwood Pharmaceuticals INC (IRWD) — shares -42.28%; Trim: Lantheus Holdings INC (LNTH) — shares -8.01%; Trim: Cytokinetics INC (CYTK) — shares -42.32%

What sectors does Sarissa Capital Management LP focus on?

Sarissa Capital Management LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 100.0%