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PFM Health Sciences, LP

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1442756
Institutional-grade research for retail investors

Sector Allocation

  • Healthcare99.0%$1.1B
  • Technology0.8%$8.9M
  • Consumer Staples0.2%$2.1M

AUM History

13fpro.ai/research/fund/pfm-health-sciences-lp-1442756

Conviction and streaks

Diversifying · top 10 = 34.3%

From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.

AXSM$AXSMConviction hold4.7% weight · held 10 quartersLLY$LLYConviction hold4.1% weight · held 10 quartersNBIX$NBIXConviction hold3.1% weight · held 5 quartersINBX$INBXConviction hold2.5% weight · held 9 quartersUTHR$UTHRConviction hold2.4% weight · held 5 quartersUNH$UNHAccumulating+155% shares · 3 quarters runningINBX$INBXAccumulating+29% shares · 3 quarters runningCOO$COOAccumulating+197% shares · 3 quarters runningCLDX$CLDXAccumulating+558% shares · 3 quarters runningPRAX$PRAXAccumulating+24% shares · 2 quarters runningLLY$LLYTrimming-87% shares · 6 quarters runningBBIO$BBIOTrimming-72% shares · 5 quarters runningHCA$HCATrimming-89% shares · 5 quarters runningMRK$MRKTrimming-79% shares · 4 quarters runningCELC$CELCTrimming-94% shares · 4 quarters running

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/pfm-health-sciences-lp-1442756

PFM Health Sciences, LP 13F holdings — Q2 2026

$1.2B portfolio (+6.3% QoQ) · 98 holdings · Q2 2026 13F · top 10 are 34% of the stock portfolio

Includes $13.6M of put/call options ($5.7M puts, $8.0M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.2B. Weights use the stock portfolio.

All holdings — PFM Health Sciences, LP (Q2 2026)

98 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

Company
ICLR$ICLRICON PLC$23.7M+137%
THC$THCTENET HEALTHCARE CORP$23.7M-68%
EW$EWEdwards Lifesciences Corp$22.7M-2%
WAT$WATWATERS CORP /DE/$22.4M+50%
PEN$PENPenumbra Inc$19.0M-57%
BBIO$BBIOBridgeBio Pharma, Inc.$18.9M-2%
SYK$SYKSTRYKER CORP$17.8M+158%
MTD$MTDMETTLER TOLEDO INTERNATIONAL INC/$17.0MNew
INDV$INDVIndivior Pharmaceuticals, Inc.$16.5M-30%
MRK$MRKMerck & Co., Inc.$16.3MNew
CYTK$CYTKCYTOKINETICS INC$16.3MNew
LNTH$LNTHLantheus Holdings, Inc.$16.2MNew
CNC$CNCCENTENE CORP$16.0M-6%
COO$COOCOOPER COMPANIES, INC.$15.8M+30%
MDGL$MDGLMADRIGAL PHARMACEUTICALS, INC.$15.7M-14%

What changed in Q2 2026

Against the previous quarter's 13F: 34 new, 22 added to, 42 trimmed, 18 sold out. Share-count changes; largest moves by dollar size first.

New positions (34)

  • HUM$HUMHUMANA INC$37.5M

    first bought this quarter

  • MTD$MTDMETTLER TOLEDO INTERNATIONAL INC/$17.0M

    first bought this quarter

  • MRK$MRKMerck & Co., Inc.$16.3M

    first bought this quarter

  • CYTK$CYTKCYTOKINETICS INC$16.3M

    first bought this quarter

  • LNTH$LNTHLantheus Holdings, Inc.$16.2M

    first bought this quarter

  • CVS$CVSCVS HEALTH Corp$14.2M

    first bought this quarter

+28 more in the Excel export

Added to (22)

  • ICLR$ICLRICON PLC+137%

    now $23.7M · held 10+ qtrs

  • UNH$UNHUNITEDHEALTH GROUP INC+52%

    now $36.7M · held 3 qtrs, 3 adds in a row

  • SYK$SYKSTRYKER CORP+158%

    now $17.8M · held 3 qtrs

  • WAT$WATWATERS CORP /DE/+50%

    now $22.4M · held 10+ qtrs

  • TMO$TMOTHERMO FISHER SCIENTIFIC INC.+92%

    now $14.3M · held 4 qtrs

  • UTHR$UTHRUNITED THERAPEUTICS Corp+26%

    now $27.1M · held 5 qtrs

+16 more in the Excel export

Trimmed (42)

  • ASND$ASNDAscendis Pharma A/S-98%

    now $62.2M · held 10+ qtrs

  • THC$THCTENET HEALTHCARE CORP-68%

    now $23.7M · held 10+ qtrs

  • LLY$LLYELI LILLY & Co-40%

    now $47.1M · held 10+ qtrs, 6 trims in a row

  • PEN$PENPenumbra Inc-57%

    now $19.0M · held 10+ qtrs, 3 trims in a row

  • CMPS$CMPSCOMPASS Pathways plc-82%

    now $3.5M · held 10+ qtrs

  • AXSM$AXSMAxsome Therapeutics, Inc.-17%

    now $53.8M · held 10+ qtrs

+36 more in the Excel export

Sold out (18)

  • PUTSPDR SERIES TRUSTwas $58.2M
  • CALLSELECT SECTOR SPDR TRwas $35.0M
  • UTHR$UTHRPUTUNITED THERAPEUTICS Corpwas $27.2M
  • GKOS$GKOSGLAUKOS Corpwas $23.2M

    held 2 qtrs

  • CNTA$CNTACentessa Pharmaceuticals plcwas $21.0M

    held 9+ qtrs

  • UTHR$UTHRCALLUNITED THERAPEUTICS Corpwas $18.8M

+12 more in the Excel export

Firm AUM (Form ADV): $1.3B as of 2025-12-31 · SEC IAPD

Share

Holdings by quarter

Every 13F PFM Health Sciences, LP has filed, 40 earlier quarters. Pick one to see what it held then.

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Is it too late to follow PFM Health Sciences?

Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of PFM Health Sciences's top 20 holdings: 60/100 (our AI quality score, weighted by position size; 17 of the 20 are scored)

Top 10 since filing

-4.1%

Value-weighted move of the 10 largest stock positions

Turnover

32%

Last quarter; 110% over the last 4

Top 10 weight

34%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

52%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

PFM Health Sciences, LP disclosed 98 positions worth $1.2B in its Form 13F-HR for Q2 2026 — $1.2B in common stock plus $13.6M of put/call option positions (reported at underlying notional value, not premium at risk), led by $ASND (Ascendis Pharma A/S) at 5.4% of the equity portfolio, followed by $AXSM and $LLY. During the quarter the fund opened 34 new positions and exited 18 — including a new stake in $HUM. The portfolio is most concentrated in Healthcare (99.0% of disclosed assets). All figures are sourced directly from PFM Health Sciences, LP’s Form 13F-HR filing with the SEC under CIK 1442756.

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AI-Powered Hedge Fund Analysis: PFM Health Sciences, LP

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Every holding in PFM Health Sciences, LP's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.