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Krensavage Asset Management, LLC

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13F filer, CIK 1609251, NEW YORK, NY

Krensavage Asset Management, LLC reported $234,698,000 across 17 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-17. Its ten largest share positions make up 86.19% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001609251-25-000007

Period
2025-09-30
Reported value
$235M
Holdings
17
Top 10 weight
86.19%
New
3
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BMRNnew+405,450$22M
SNYadded+175,000$8.26M
BIIBnew+10,000$1.4M
EXELadded+25,000$1.03M
VNDAadded+155,505$776K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
INDIVIOR PLCreduced-634,942-$15.3M
CAHreduced-60,000-$9.42M
JNJexited-40,000-$6.11M
SUPNreduced-108,897-$5.2M
UTHRreduced-3,500-$1.47M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001609251-25-000007, largest first. % of portfolio is the value over $234,698,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,332 shares; 2024Q4: 92,057 shares; 2025Q1: 98,228 shares; 2025Q2: 101,146 shares; 2025Q3: 97,646 shares 97,646$40.9M17.44%-3,500Timeline
ENTAENANTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,498,074 shares; 2024Q4: 2,117,390 shares; 2025Q1: 2,116,586 shares; 2025Q2: 2,114,444 shares; 2025Q3: 2,114,444 shares 2,114,444$25.3M10.78%0Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,257 shares; 2024Q4: 105,803 shares; 2025Q1: 100,703 shares; 2025Q2: 164,816 shares; 2025Q3: 167,816 shares 167,816$22.1M9.42%+3,000Timeline
BMRNBIOMARIN PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 405,450 shares 405,450$22M9.36%newTimeline
EXELEXELIXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,281,612 shares; 2024Q4: 965,866 shares; 2025Q1: 878,533 shares; 2025Q2: 493,526 shares; 2025Q3: 518,526 shares 518,526$21.4M9.12%+25,000Timeline
SUPNSUPERNUS PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 431,986 shares; 2025Q2: 472,376 shares; 2025Q3: 363,479 shares 363,479$17.4M7.4%-108,897Timeline
SNYSANOFI SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,205 shares; 2024Q4: 149,196 shares; 2025Q1: 149,096 shares; 2025Q2: 148,946 shares; 2025Q3: 323,946 shares 323,946$15.3M6.51%+175,000Timeline
AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 950,000 shares; 2025Q2: 958,877 shares; 2025Q3: 955,860 shares 955,860$14.6M6.22%-3,017
GSKGSK PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 272,000 shares; 2025Q2: 271,729 shares; 2025Q3: 271,729 shares 271,729$11.7M5%0Timeline
CAHCARDINAL HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 210,263 shares; 2024Q4: 208,845 shares; 2025Q1: 188,745 shares; 2025Q2: 133,745 shares; 2025Q3: 73,745 shares 73,745$11.6M4.93%-60,000Timeline
INDIVIOR PLCINDIVIOR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 701,873 shares; 2024Q4: 935,680 shares; 2025Q1: 965,368 shares; 2025Q2: 974,474 shares; 2025Q3: 339,532 shares 339,532$8.19M3.49%-634,942
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,583 shares; 2024Q4: 88,663 shares; 2025Q1: 87,563 shares; 2025Q2: 73,382 shares; 2025Q3: 79,366 shares 79,366$7.83M3.33%+5,984Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 251,495 shares; 2024Q4: 238,136 shares; 2025Q1: 207,822 shares; 2025Q2: 207,822 shares; 2025Q3: 207,822 shares 207,822$6.24M2.66%0Timeline
VNDAVANDA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 414,684 shares; 2024Q4: 378,762 shares; 2025Q1: 754,381 shares; 2025Q2: 1,024,883 shares; 2025Q3: 1,180,388 shares 1,180,388$5.89M2.51%+155,505Timeline
REGNREGENERON PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 353 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,000 shares; 2025Q3: 4,000 shares 4,000$2.25M0.96%0Timeline
BIIBBIOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 113,502 shares; 2024Q4: 108,923 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares 10,000$1.4M0.6%newTimeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$614K0.26%newTimeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
JNJJOHNSON & JOHNSON40,000$6.11Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001609251-25-000007 base2025-11-17acceptance time not in the bulk data set