CIK: 0001609251
Total reported value
$255.7M
Reporting period: 2026-03-31 · Number of holdings: 20
Krensavage Asset Management, LLC disclosed 20 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $255.7M and a quarterly turnover rate of 38.9%.
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Krensavage Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.105 — mathematically equivalent to about 10 equally-sized positions, well below its 20 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 1.07), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.6 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Add UTHR
-7.7% $5.5M
Add JAZZ
0.0% $3.2M
Add RARE
+161.2% $4.7M
Trim BNTX
-40.2% -$4.2M
Trim ENTA
+3.6% -$7.4M
Add BIIB
+100.0% $1.9M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | UTHR | United Therapeutics CORP | Stock-Healthcare | 19.55% | +3.84% | -7.67% | |
| 2 | ENTA | Enanta Pharmaceuticals INC | Stock-Other | 14.16% | -1.25% | +3.61% | |
| 3 | JAZZ | Jazz Pharmaceuticals plc | Stock-Healthcare | 12.41% | +2.33% | — | |
| 4 | BMRN | Biomarin Pharmaceutical INC | Stock-Healthcare | 11.59% | +0.57% | — | |
| 5 | EXEL | Exelixis INC | Stock-Healthcare | 6.97% | -0.67% | -15.77% | |
| 6 | SNY | Sanofi-adr | Stock-Healthcare | 6.10% | +0.56% | — | |
| 7 | SUPN | Supernus Pharmaceuticals INC | Stock-Healthcare | 5.67% | +0.17% | -10.47% | |
| 8 | INDV | Indivior Pharmaceuticals INC | Stock-Other | 4.05% | +4.05% | NEW | |
| 9 | RARE | Ultragenyx Pharmaceutical In | Stock-Other | 3.20% | +1.98% | +161.22% | |
| 10 | VNDA | Vanda Pharmaceuticals INC | Stock-Other | 3.19% | -0.49% | — | |
| 11 | EMBC | Embecta CORP | Stock-Healthcare | 2.54% | +2.54% | NEW | |
| 12 | GSK | Gsk Plc-spon Adr | Stock-Healthcare | 2.09% | +0.41% | — | |
| 13 | BNTX | Biontech Se-adr | Stock-Other | 2.07% | -1.28% | -40.19% | |
| 14 | ALKS | Alkermes plc | Stock-Healthcare | 1.49% | +0.42% | — | |
| 15 | BIIB | Biogen INC | Stock-Healthcare | 1.43% | +0.81% | +100.00% | |
| 16 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 1.21% | +0.12% | — | |
| 17 | ARDX | Ardelyx INC | Stock-Other | 1.17% | +1.17% | NEW | |
| 18 | INMD | InMode Ltd. | Stock-Other | 0.65% | +0.65% | NEW | |
| 19 | EOLS | Evolus INC | Stock-Other | 0.25% | +0.02% | +57.98% | |
| 20 | ABT | Abbott Laboratories | Stock-Healthcare | 0.20% | +0.20% | NEW |
Performance for Q3 2026
+9%
Performance Last 4 Quarters
+59.2%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 20 | $255.7M | 39 | |
| 2025-12-31 | 18 | $283.1M | 28 | |
| 2025-09-30 | 17 | $234.7M | 51 | |
| 2025-06-30 | 15 | $188.9M | 0 | |
| 2025-03-31 | 14 | $180.9M | 100 | |
| 2024-12-31 | 12 | $169.0M | 0 | |
| 2024-09-30 | 13 | $178.5M | 0 | |
| 2024-06-30 | 13 | $217.8M | 0 | |
| 2024-03-31 | 12 | $225.5M | 0 | |
| 2023-12-31 | 12 | $281.9M | 0 | |
| 2023-09-30 | 12 | $271.6M | 0 | |
| 2023-06-30 | 12 | $315.6M | 0 | |
| 2023-03-31 | 12 | $329.3M | 0 | |
| 2022-12-31 | 12 | $323.6M | 0 | |
| 2022-09-30 | 14 | $314.1M | 0 | |
| 2022-06-30 | 14 | $302.5M | 0 | |
| 2022-03-31 | 13 | $290.1M | 0 | |
| 2021-12-31 | 10 | $288.3M | 0 | |
| 2021-09-30 | 13 | $318.8M | 0 | |
| 2021-06-30 | 13 | $294.5M | 99 | |
| 2021-03-31 | 12 | $288.9M | 27 | |
| 2020-12-31 | 12 | $342.4M | 17 | |
| 2020-09-30 | 11 | $314.1M | 23 | |
| 2020-06-30 | 11 | $367.6M | 24 | |
| 2020-03-31 | 13 | $310.9M | 14 | |
| 2019-12-31 | 12 | $293.0M | 63 | |
| 2019-09-30 | 10 | $260.4M | 36 | |
| 2019-06-30 | 10 | $308.1M | 22 | |
| 2019-03-31 | 12 | $370.1M | 39 | |
| 2018-12-31 | 13 | $296.2M | 27 | |
| 2018-09-30 | 14 | $389.1M | 26 | |
| 2018-06-30 | 14 | $391.6M | 11 | |
| 2018-03-31 | 16 | $412.2M | 61 | |
| 2017-12-31 | 16 | $320.8M | 29 | |
| 2017-09-30 | 14 | $320.8M | 18 | |
| 2017-06-30 | 15 | $329.4M | 17 | |
| 2017-03-31 | 15 | $310.1M | 38 | |
| 2016-12-31 | 16 | $278.9M | 56 | |
| 2016-09-30 | 17 | $276.7M | 19 | |
| 2016-06-30 | 20 | $277.5M | 38 | |
| 2016-03-31 | 22 | $278.7M | 15 | |
| 2015-12-31 | 22 | $313.4M | 23 | |
| 2015-09-30 | 23 | $276.3M | 22 | |
| 2015-06-30 | 22 | $265.1M | 45 | |
| 2015-03-31 | 23 | $219.6M | 30 | |
| 2014-12-31 | 26 | $179.5M | 0 |
Krensavage Asset Management, LLC's most significant position changes for 2026-03-31: Sold out: Avadel Pharmaceu; Sold out: Cardinal Health INC (CAH); Sold out: Indivior Pharmaceuticals, Inc. (INDV); New buy: Indivior Pharmaceuticals INC (INDV); New buy: Embecta CORP (EMBC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | UTHR | United Therapeutics CORP | +3.8% | -7.67% | Trim |
| 2 | JAZZ | Jazz Pharmaceuticals plc | +2.3% | — | Unchanged |
| 3 | RARE | Ultragenyx Pharmaceutical In | +2% | +161.22% | Add |
| 4 | BIIB | Biogen INC | +0.8% | +100.00% | Add |
| 5 | BMRN | Biomarin Pharmaceutical INC | +0.6% | — | Unchanged |
| 6 | SNY | Sanofi-adr | +0.6% | — | Unchanged |
| 7 | ALKS | Alkermes plc | +0.4% | — | Unchanged |
| 8 | GSK | Gsk Plc-spon Adr | +0.4% | — | Unchanged |
| 9 | SUPN | Supernus Pharmaceuticals INC | +0.2% | -10.47% | Trim |
| 10 | REGN | Regeneron Pharmaceuticals | +0.1% | — | Unchanged |
| 11 | EOLS | Evolus INC | 0% | +57.98% | Add |
| 12 | VNDA | Vanda Pharmaceuticals INC | -0.5% | — | Unchanged |
| 13 | EXEL | Exelixis INC | -0.7% | -15.77% | Trim |
| 14 | ENTA | Enanta Pharmaceuticals INC | -1.3% | +3.61% | Add |
| 15 | BNTX | Biontech Se-adr | -1.3% | -40.19% | Trim |
| 16 | ✓ | Avadel Pharmaceu | — | EXIT | Sold out |
| 17 | CAH | Cardinal Health INC | — | EXIT | Sold out |
| 18 | INDV | Indivior Pharmaceuticals, Inc. | — | EXIT | Sold out |
| 19 | INDV | Indivior Pharmaceuticals INC | — | NEW | New buy |
| 20 | EMBC | Embecta CORP | — | NEW | New buy |
| 21 | ARDX | Ardelyx INC | — | NEW | New buy |
| 22 | INMD | InMode Ltd. | — | NEW | New buy |
| 23 | ABT | Abbott Laboratories | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-18 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-17 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-15 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-18 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-11-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-15 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-16 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-15 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-16 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-17 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-15 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-16 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-17 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-12-08 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-17 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-20 | Amendment | View on EDGAR |
| 2020-06-30 | 2020-08-17 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-18 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-18 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-15 | 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 | 2019-02-15 | Amendment | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 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 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-13 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-18 | 13F-HR | View on EDGAR |
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