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Patient Square Capital LP

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13F filer, CIK 1819257, MENLO PARK, CA

Patient Square Capital LP reported $373,857,431 across 24 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-10. Its ten largest share positions make up 85.56% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001819257-25-000002

Period
2025-09-30
Reported value
$374M
Holdings
24
Top 10 weight
85.56%
New
8
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABVXnew+151,833$12.9M
CDTXadded+106,000$10.2M
CELCnew+100,000$4.94M
DNTHnew+125,000$4.92M
QUREnew+75,000$4.38M

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
LQDAreduced-620,000-$14.1M
ARGXreduced-13,500-$9.96M
CGEMexited-868,897-$6.54M
SRRKexited-154,000-$5.45M
EYPTreduced-340,998-$4.86M

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 0001819257-25-000002, largest first. % of portfolio is the value over $373,857,431, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,228,465 shares; 2024Q4: 12,480,000 shares; 2025Q1: 12,480,000 shares; 2025Q2: 12,480,000 shares; 2025Q3: 12,480,000 shares 12,480,000$189M50.51%0Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,704 shares; 2024Q4: 307,167 shares; 2025Q1: 330,250 shares; 2025Q2: 358,800 shares; 2025Q3: 326,400 shares 326,400$47M12.57%-32,400Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,361,979 shares; 2024Q4: 1,410,331 shares; 2025Q1: 1,481,977 shares; 2025Q2: 1,352,837 shares; 2025Q3: 1,011,839 shares 1,011,839$14.4M3.85%-340,998Timeline
ABVXABIVAX SAQuarterly 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: 151,833 shares 151,833$12.9M3.45%newTimeline
CDTXCIDARA THERAPEUTICS 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: 15,000 shares; 2025Q3: 121,000 shares 121,000$11.6M3.1%+106,000Timeline
ARGXARGENX SEQuarterly 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: 29,000 shares; 2025Q3: 15,500 shares 15,500$11.4M3.06%-13,500Timeline
LQDALIQUIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,182,532 shares; 2024Q4: 1,860,371 shares; 2025Q1: 1,522,452 shares; 2025Q2: 1,020,000 shares; 2025Q3: 400,000 shares 400,000$9.1M2.43%-620,000Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,341 shares; 2024Q4: 207,603 shares; 2025Q1: 245,496 shares; 2025Q2: 244,283 shares; 2025Q3: 345,381 shares 345,381$8.62M2.3%+101,098Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 235,498 shares; 2024Q4: 470,919 shares; 2025Q1: 920,199 shares; 2025Q2: 817,699 shares; 2025Q3: 715,000 shares 715,000$8.36M2.24%-102,699Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 64,900 shares; 2025Q1: 116,362 shares; 2025Q2: 113,462 shares; 2025Q3: 104,262 shares 104,262$7.64M2.04%-9,200Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 121,732 shares; 2025Q1: 139,732 shares; 2025Q2: 139,732 shares; 2025Q3: 133,827 shares 133,827$5.37M1.44%-5,905Timeline
KYMRKYMERA THERAPEUTICS 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: 142,201 shares; 2025Q2: 140,000 shares; 2025Q3: 92,592 shares 92,592$5.24M1.4%-47,408Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,572 shares; 2024Q4: 224,038 shares; 2025Q1: 253,838 shares; 2025Q2: 245,838 shares; 2025Q3: 250,838 shares 250,838$5.13M1.37%+5,000Timeline
CELCCELCUITY 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$4.94M1.32%newTimeline
DNTHDIANTHUS THERAPEUTICS 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: 125,000 shares 125,000$4.92M1.32%newTimeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 56,400 shares; 2025Q1: 83,000 shares; 2025Q2: 74,000 shares; 2025Q3: 74,000 shares 74,000$4.89M1.31%0Timeline
QUREUNIQURE NVQuarterly 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: 75,000 shares 75,000$4.38M1.17%newTimeline
AMLXAMYLYX PHARMACEUTICALS 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: 316,312 shares 316,312$4.3M1.15%newTimeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 325,789 shares; 2024Q4: 446,296 shares; 2025Q1: 447,296 shares; 2025Q2: 412,296 shares; 2025Q3: 437,237 shares 437,237$4.04M1.08%+24,941Timeline
ALLOALLOGENE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,489,909 shares; 2025Q1: 2,368,186 shares; 2025Q2: 2,635,000 shares; 2025Q3: 2,981,396 shares 2,981,396$3.7M0.99%+346,396Timeline
ASMBASSEMBLY BIOSCIENCES 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: 135,182 shares 135,182$3.46M0.93%newTimeline
AVTXAVALO THERAPEUTICS 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$1.27M0.34%newTimeline
CATXPERSPECTIVE THERAPEUTICS 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: 349,323 shares 349,323$1.2M0.32%newTimeline
GERNGERON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,321,268 shares; 2025Q1: not reported; 2025Q2: 716,000 shares; 2025Q3: 845,000 shares 845,000$1.16M0.31%+129,000Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CGEMCULLINAN THERAPEUTICS INC868,897$6.54Mshares
SRRKSCHOLAR ROCK HLDG CORP154,000$5.45Mshares
VYNEVYNE THERAPEUTICS INC317,033$523Kshares

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 0001819257-25-000002 base2025-11-10acceptance time not in the bulk data set