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PFM Health Sciences, LP

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13F filer, CIK 1442756, SAN FRANCISCO, CA

PFM Health Sciences, LP reported $1,300,512,372 across 72 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 50.87% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001442756-25-000007

Period
2025-09-30
Reported value
$1.3B
Holdings
72
Top 10 weight
50.87%
New
28
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UTHRadded+59,259$24.8M
UHSnew+116,260$23.8M
CNCnew+574,360$20.5M
MRKnew+236,468$19.8M
ELVnew+60,776$19.6M

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
LLYreduced-42,884-$32.7M
DHRexited-161,413-$31.9M
HUMreduced-105,863-$27.5M
MOHexited-85,739-$25.5M
ALNYexited-72,220-$23.6M

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 0001442756-25-000007, largest first. % of portfolio is the value over $1,172,645,138, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 298,643 shares; 2024Q4: 298,643 shares; 2025Q1: 273,778 shares; 2025Q2: 268,023 shares; 2025Q3: 225,139 shares 225,139$172M14.65%-42,884Timeline
THCTENET HEALTHCARE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 589,409 shares; 2024Q4: 491,334 shares; 2025Q1: 491,334 shares; 2025Q2: 499,243 shares; 2025Q3: 461,654 shares 461,654$93.7M7.99%-37,589Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 467,427 shares; 2024Q4: 467,427 shares; 2025Q1: 556,545 shares; 2025Q2: 483,105 shares; 2025Q3: 530,332 shares 530,332$64.4M5.49%+47,227Timeline
MCKMCKESSON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 97,498 shares; 2024Q4: 97,498 shares; 2025Q1: 97,498 shares; 2025Q2: 72,313 shares; 2025Q3: 72,313 shares 72,313$55.9M4.76%0Timeline
PENPENUMBRA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,261 shares; 2024Q4: 166,261 shares; 2025Q1: 166,261 shares; 2025Q2: 166,261 shares; 2025Q3: 195,085 shares 195,085$49.4M4.21%+28,824Timeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 52,500 shares; 2025Q1: not reported; 2025Q2: 36,391 shares; 2025Q3: 95,650 shares 95,650$40.1M3.42%+59,259Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 137,327 shares; 2024Q4: 93,073 shares; 2025Q1: 93,073 shares; 2025Q2: 88,967 shares; 2025Q3: 77,403 shares 77,403$34.6M2.95%-11,564Timeline
EWEDWARDS LIFESCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 390,863 shares; 2024Q4: 594,172 shares; 2025Q1: 379,954 shares; 2025Q2: 392,503 shares; 2025Q3: 381,324 shares 381,324$29.7M2.53%-11,179Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 90,766 shares; 2024Q4: 52,392 shares; 2025Q1: 186,916 shares; 2025Q2: 221,754 shares; 2025Q3: 145,311 shares 145,311$28.9M2.46%-76,443Timeline
HCAHCA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,840 shares; 2024Q4: 69,441 shares; 2025Q1: 77,464 shares; 2025Q2: 72,290 shares; 2025Q3: 65,773 shares 65,773$28M2.39%-6,517Timeline
CVSCVS HEALTH CORPQuarterly 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: 312,305 shares; 2025Q2: 479,005 shares; 2025Q3: 346,679 shares 346,679$26.1M2.23%-132,326Timeline
CORCENCORA 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: 53,287 shares; 2025Q3: 80,493 shares 80,493$25.2M2.15%+27,206Timeline
OMOUTSET MED 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: 1,685,727 shares; 2025Q2: 1,664,727 shares; 2025Q3: 1,729,921 shares 1,729,921$24.4M2.08%+65,194Timeline
UHSUNIVERSAL HLTH SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 213,983 shares; 2024Q4: 213,983 shares; 2025Q1: 155,520 shares; 2025Q2: not reported; 2025Q3: 116,260 shares 116,260$23.8M2.03%newTimeline
ICLRICON PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 116,532 shares; 2024Q4: 128,637 shares; 2025Q1: 41,038 shares; 2025Q2: 88,181 shares; 2025Q3: 133,683 shares 133,683$23.4M2%+45,502Timeline
CNCCENTENE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 144,501 shares; 2025Q1: 135,398 shares; 2025Q2: not reported; 2025Q3: 574,360 shares 574,360$20.5M1.75%newTimeline
MRKMERCK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 542,811 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 236,468 shares 236,468$19.8M1.69%newTimeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 56,441 shares; 2024Q4: not reported; 2025Q1: 88,222 shares; 2025Q2: not reported; 2025Q3: 60,776 shares 60,776$19.6M1.67%newTimeline
NTRANATERA 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: 101,250 shares; 2025Q3: 115,596 shares 115,596$18.6M1.59%+14,346Timeline
ADMAADMA BIOLOGICS 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: 1,181,011 shares 1,181,011$17.3M1.48%newTimeline
NEONEOGENOMICS 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: 585,381 shares; 2025Q2: 770,038 shares; 2025Q3: 2,208,530 shares 2,208,530$17M1.45%+1,438,492Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 290,242 shares; 2025Q1: 908,135 shares; 2025Q2: 521,793 shares; 2025Q3: 327,174 shares 327,174$17M1.45%-194,619Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 307,503 shares; 2025Q1: 595,206 shares; 2025Q2: 407,202 shares; 2025Q3: 243,401 shares 243,401$16.5M1.4%-163,801Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,158 shares; 2024Q4: 371,766 shares; 2025Q1: 570,546 shares; 2025Q2: 344,972 shares; 2025Q3: 666,196 shares 666,196$16.2M1.38%+321,224Timeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 860,821 shares; 2024Q4: 860,821 shares; 2025Q1: 860,821 shares; 2025Q2: 735,033 shares; 2025Q3: 820,642 shares 820,642$15.5M1.32%+85,609Timeline
RVMDREVOLUTION MEDICINES 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: 331,069 shares 331,069$15.5M1.32%newTimeline
VERAVERA 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: 513,685 shares 513,685$14.9M1.27%newTimeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 12,427 shares; 2025Q1: not reported; 2025Q2: 17,129 shares; 2025Q3: 21,210 shares 21,210$14.1M1.2%+4,081Timeline
INDIVIOR PLCINDIVIOR 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: 1,159,833 shares; 2025Q2: 1,355,931 shares; 2025Q3: 561,526 shares 561,526$13.5M1.15%-794,405
VEEVVEEVA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,259 shares; 2024Q4: 55,383 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 41,503 shares 41,503$12.4M1.05%newTimeline
MERUS N VMERUS N VQuarterly 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: 183,882 shares; 2025Q3: 130,742 shares 130,742$12.3M1.05%-53,140
AKROAKERO 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: 266,167 shares; 2025Q3: 248,079 shares 248,079$11.8M1%-18,088Timeline
REGNREGENERON 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: not reported; 2025Q2: not reported; 2025Q3: 19,890 shares 19,890$11.2M0.95%newTimeline
IRTCIRHYTHM HOLDINGS 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: 88,157 shares; 2025Q3: 64,998 shares 64,998$11.2M0.95%-23,159Timeline
CMPSCOMPASS PATHWAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 451,267 shares; 2024Q4: 451,267 shares; 2025Q1: 451,267 shares; 2025Q2: 1,779,259 shares; 2025Q3: 1,662,836 shares 1,662,836$9.53M0.81%-116,423Timeline
WATWATERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,063 shares; 2024Q4: 59,053 shares; 2025Q1: 51,858 shares; 2025Q2: 43,089 shares; 2025Q3: 30,751 shares 30,751$9.22M0.79%-12,338Timeline
VERONA PHARMA PLCVERONA PHARMA 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: not reported; 2025Q2: 80,416 shares; 2025Q3: 80,416 shares 80,416$8.58M0.73%0
INBXINHIBRX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 135,546 shares; 2024Q4: 135,546 shares; 2025Q1: 439,283 shares; 2025Q2: 244,261 shares; 2025Q3: 239,644 shares 239,644$8.07M0.69%-4,617Timeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 166,803 shares; 2025Q1: not reported; 2025Q2: 12,821 shares; 2025Q3: 57,246 shares 57,246$8.04M0.69%+44,425Timeline
TEVATEVA PHARMACEUTICAL INDS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 397,024 shares; 2025Q1: not reported; 2025Q2: 1,238,846 shares; 2025Q3: 356,818 shares 356,818$7.21M0.61%-882,028Timeline
ARQTARCUTIS BIOTHERAPEUTICS 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: 923,375 shares; 2025Q3: 360,460 shares 360,460$6.79M0.58%-562,915Timeline
CGONCG ONCOLOGY 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: 157,874 shares 157,874$6.36M0.54%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: 834,135 shares; 2025Q2: 732,256 shares; 2025Q3: 436,156 shares 436,156$5.93M0.51%-296,100Timeline
COOCOOPER COS 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: 74,363 shares 74,363$5.1M0.43%newTimeline
RYTMRHYTHM 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: 48,162 shares 48,162$4.86M0.41%newTimeline
VKTXVIKING 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: 37,729 shares; 2025Q3: 183,538 shares 183,538$4.82M0.41%+145,809Timeline
WSTWEST PHARMACEUTICAL SVSC 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: 18,365 shares 18,365$4.82M0.41%newTimeline
AZNASTRAZENECA PLC-SPONS ADRQuarterly 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: 150,200 shares; 2025Q2: not reported; 2025Q3: 61,795 shares 61,795$4.74M0.4%newTimeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,832 shares; 2024Q4: 63,699 shares; 2025Q1: 68,999 shares; 2025Q2: 7,237 shares; 2025Q3: 6,403 shares 6,403$4.72M0.4%-834Timeline
RZLTREZOLUTE 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: 434,134 shares; 2025Q3: 452,733 shares 452,733$4.26M0.36%+18,599Timeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 423,910 shares; 2024Q4: 206,871 shares; 2025Q1: 926,424 shares; 2025Q2: not reported; 2025Q3: 256,488 shares 256,488$3.95M0.34%newTimeline
MBXMBX 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: 221,505 shares 221,505$3.88M0.33%newTimeline
AMRXAMNEAL 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: 355,818 shares 355,818$3.56M0.3%newTimeline
GPCRSTRUCTURE 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: 40,400 shares; 2025Q2: 56,594 shares; 2025Q3: 115,073 shares 115,073$3.22M0.27%+58,479Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 183,092 shares; 2024Q4: 119,509 shares; 2025Q1: 160,866 shares; 2025Q2: 84,713 shares; 2025Q3: 60,578 shares 60,578$3.21M0.27%-24,135Timeline
ELVNENLIVEN 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: 156,463 shares 156,463$3.2M0.27%newTimeline
CRBUCARIBOU BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,306,671 shares; 2024Q4: 3,876,462 shares; 2025Q1: 2,506,435 shares; 2025Q2: 1,358,831 shares; 2025Q3: 1,358,831 shares 1,358,831$3.17M0.27%0Timeline
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,469 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 28,648 shares 28,648$2.8M0.24%newTimeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,628 shares; 2024Q4: 283,158 shares; 2025Q1: 599,967 shares; 2025Q2: 174,331 shares; 2025Q3: 46,353 shares 46,353$2.71M0.23%-127,978Timeline
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: 67,840 shares 67,840$2.67M0.23%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: not reported; 2025Q1: not reported; 2025Q2: 30,799 shares; 2025Q3: 32,539 shares 32,539$2.15M0.18%+1,740Timeline
HIMSHIMS & HERS HEALTH 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: 22,915 shares 22,915$1.3M0.11%newTimeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 58,433 shares; 2024Q4: 21,040 shares; 2025Q1: 21,897 shares; 2025Q2: not reported; 2025Q3: 2,314 shares 2,314$1.12M0.1%newTimeline
HUMHUMANA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 101,954 shares; 2024Q4: 83,037 shares; 2025Q1: 63,238 shares; 2025Q2: 109,511 shares; 2025Q3: 3,648 shares 3,648$949K0.08%-105,863Timeline
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED 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: 75,138 shares 75,138$886K0.08%new
HOWLWEREWOLF THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,398,747 shares; 2024Q4: 2,905,465 shares; 2025Q1: 2,506,520 shares; 2025Q2: 401,110 shares; 2025Q3: 401,110 shares 401,110$790K0.07%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
XBISPDR SERIES TRUST S&P BIOTECHcall717,400$71.9Mnew
HUMHUMANA INC Stockcall110,000$28.6Mnew
IWMISHARES TR SHSput56,700$13.7Mnew
BSXBOSTON SCIENTIFIC CORP COMcall122,000$11.9Mnew
LQDALIQUIDIA CORPORATION Stockput76,300$1.74Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ASCENDIS PHARMA A/SASCENDIS PHARMA A/S Convertible bondprincipal11,515,000$15.7M-11,485,000

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
DHRDANAHER CORP DEL161,413$31.9Mshares
MOHMOLINA HEALTHCARE INC85,739$25.5Mshares
ALNYALNYLAM PHARMACEUTICALS INC72,220$23.6Mshares
UNHUNITEDHEALTH GROUP INC65,000$20.3Mput
MASIMASIMO CORP94,451$15.9Mshares
HOLXHOLOGIC INC211,986$13.8Mshares
UNHUNITEDHEALTH GROUP INC34,623$10.8Mshares
BMRNBIOMARIN PHARMACEUTICAL INC178,319$9.8Mshares
ABBVABBVIE INC40,782$7.57Mshares
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORP48,444$6.21Mshares
IOBTQIO BIOTECH INC1,972,073$2.74Mshares
ERASERASCA INC1,072,224$1.36Mshares
SGMTSAGIMET BIOSCIENCES INC90,000$686Kshares

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 0001442756-25-000007 base2025-11-14acceptance time not in the bulk data set