DOSSIER · 13F-HR · Q1 2026

PFM Health Sciences, LP

$1.1B in tracked AUM across 83 positions as of Q1 2026.

PH
CIK 0001442756 · last filed Mar 31, 2026
Total AUM
$1.1B
as of Q1 2026
Holdings
83
positions
Whale Score
63
63
tracked
Activity
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of PFM Health Sciences, LP SEC 13F Filing
Portfolio Overview

As of the report date September 30, 2025, PFM Health Sciences, LP manages a portfolio valued at approximately $716.87 million across 38 holdings. This represents a significant contraction in assets under management (AUM), with the portfolio value decreasing by 39.0% from the previous quarter's $1.17 billion. This reduction is driven by a combination of market performance and substantial capital reallocatio...

The portfolio is highly concentrated, reflecting a high-conviction investment strategy. The top ten holdings account for roughly 68% of the total portfolio value, with the largest position, Tenet Healthcare (THC), constituting 13.08% alone. The fund maintains a clear focus on the healthcare sector, utilizing both specific stock picks and ETFs to execute its strategy.

Key Holdings

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
THC
TENET HEALTHCARE CORP
$75M399K6.9%
02
UTHR
UNITED THERAPEUTICS CORP DEL
$70M117K6.3%
03
LLY
ELI LILLY & CO
$60M66K5.5%
04
XBI
SPDR SERIES TRUST
$58M455K5.3%
05
PEN
PENUMBRA INC
$46M140K4.2%
06
AXSM
AXSOME THERAPEUTICS INC.
$45M264K4.1%
07
ASND
ASCENDIS PHARMA A/S
$40M174K3.6%
08
XLV
SELECT SECTOR SPDR TR
$35M239K3.2%
09
G50871105
JAZZ PHARMACEUTICALS PLC
$34M178K3.1%
10
NBIX
NEUROCRINE BIOSCIENCES INC
$28M216K2.6%

Filing history

2026Q1Mar 31
$1.1B 9.3%
83 positionsView →
2025Q4Dec 31
$1.0B 39.9%
78 positionsView →
2025Q3Sep 30
$717M 39.0%
38 positionsView →
2025Q2Jun 30
$1.2B 48.0%
57 positionsLocked
2025Q1Mar 31
$794M 50.8%
43 positionsLocked
2024Q4Dec 31
$1.6B 8.6%
83 positionsLocked
2024Q3Sep 30
$1.8B 12.7%
75 positionsLocked
2024Q2Jun 30
$2.0B 5.0%
78 positionsLocked
2024Q1Mar 31
$2.1B 27.6%
87 positionsLocked
2023Q4Dec 31
$1.7B 21.5%
65 positionsLocked
2023Q3Sep 30
$2.1B 17.6%
73 positionsLocked
2023Q2Jun 30
$2.6B 13.8%
83 positionsLocked
Showing 12 of 64