PFM Health Sciences, LP

CIK

1442756

Location

SAN FRANCISCO, CA

Portfolio Value

Small $986,638,985

Diversification

Diversified

Filing Date

Global Rank

#1,764 / 8,603 ▲ 62 · as of Mar 2026

Top Industry

Biotechnology 39.8%

3Y Alpha vs SPY

-4.2%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+58.7%

SPY

+76.0%

Annualised alpha

-4.1%

Max drawdown

−21.8%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

76 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.6%

−0.5 pts

Top 5

30.0%

+0.4 pts

Top 10

44.8%

+0.8 pts

HHI

296

Diversified−12

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$986,638,985	76

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
CMPS	COMPASS Pathways plc	+587,481	1,367,099	$7,560,057
CLDX	Celldex Therapeutics, Inc.	+191,796	324,957	$10,307,636
JAZZ	Jazz Pharmaceuticals plc	+127,633	178,144	$33,678,123
RYTM	Rhythm Pharmaceuticals, Inc.	+96,411	136,621	$11,881,928
MLYS	Mineralys Therapeutics, Inc.	+95,040	142,677	$3,865,119
NEO	Neogenomics Inc	+90,501	1,784,552	$13,241,375
VKTX	Viking Therapeutics, Inc.	+74,150	263,106	$8,561,469
DNTH	Dianthus Therapeutics, Inc. /DE/	+72,561	172,137	$14,445,737
COO	Cooper Companies, Inc.	+69,027	169,829	$12,142,773
BTSG	BrightSpring Health Services, Inc.	+68,810	187,335	$7,982,344
VERA	Vera Therapeutics, Inc.	+67,177	174,867	$7,034,899
PSNL	Personalis, Inc.	+64,280	870,097	$5,542,517
OM	Outset Medical, Inc.	+63,834	594,630	$2,283,379
GPCR	Structure Therapeutics Inc.	+58,135	126,383	$6,091,660
TARS	Tarsus Pharmaceuticals, Inc.	+52,888	80,226	$5,627,853
NBIX	Neurocrine Biosciences Inc	+52,481	215,678	$28,413,419
UTHR	UNITED THERAPEUTICS Corp	+49,662	117,405	$69,618,816
INBX	Inhibrx Biosciences, Inc.	+39,914	305,431	$20,534,126
BLTE	Belite Bio, Inc	+39,609	59,432	$9,475,838
ITGR	Integer Holdings Corp	+28,496	135,081	$11,887,128
MDGL	Madrigal Pharmaceuticals, Inc.	+26,888	34,146	$17,874,406
GKOS	GLAUKOS Corp	+14,009	215,685	$23,220,647
AXSM	Axsome Therapeutics, Inc.	+12,742	264,304	$44,672,662
AMLX	Amylyx Pharmaceuticals, Inc.	+10,726	145,275	$2,019,322
EW	Edwards Lifesciences Corp	+7,675	254,510	$20,381,160
No positions match the current search.

Trimmed

Positions the filer reduced

17 positions

Ticker	Company	Δ Shares	Shares	Value
CNC	Centene Corp	−834,238	263,486	$8,626,531
AMRX	Amneal Pharmaceuticals, Inc.	−535,384	930,096	$11,561,093
DXCM	Dexcom Inc	−77,623	149,734	$9,403,295
RZLT	Rezolute, Inc.	−77,539	128,726	$392,614
CNTA	Centessa Pharmaceuticals plc	−63,377	528,224	$20,981,057
ICLR	Icon PLC	−57,836	57,500	$6,362,950
BBIO	BridgeBio Pharma, Inc.	−48,759	257,747	$19,140,292
CAH	Cardinal Health Inc	−30,400	31,941	$6,749,452
SYK	Stryker Corp	−28,895	21,957	$7,214,850
TMO	Thermo Fisher Scientific Inc.	−23,083	14,832	$7,290,372
RVMD	Revolution Medicines, Inc.	−10,683	140,770	$13,689,882
MBX	MBX Biosciences, Inc.	−7,416	71,894	$2,146,035
PEN	Penumbra Inc	−5,392	139,779	$45,899,230
ABVX	Abivax S.A.	−5,214	26,664	$2,969,036
WAT	Waters Corp /De/	−3,445	39,763	$11,841,421
ASND	Ascendis Pharma A/S	−3,251	174,434	$39,898,288
LLY	ELI LILLY & Co	−2,527	65,762	$60,485,914
No positions match the current search.

New Positions

Positions the filer opened this quarter

19 positions

Ticker	Company	Shares	Value
INDV	Indivior Pharmaceuticals, Inc.	574,666	$17,515,819
ABT	Abbott Laboratories	140,432	$14,418,153
ACHC	Acadia Healthcare Company, Inc.	582,745	$13,630,405
NTRA	Natera, Inc.	60,004	$12,000,199
HSIC	Henry Schein Inc	153,114	$11,284,501
MMSI	Merit Medical Systems Inc	162,469	$11,198,988
TERN	Terns Pharmaceuticals, Inc.	172,962	$9,118,556
ORKA	Oruka Therapeutics, Inc.	174,052	$8,537,250
TNGX	Tango Therapeutics, Inc.	406,245	$8,498,645
NVO	Novo Nordisk A S	197,181	$7,246,401
ALHC	Alignment Healthcare, Inc.	359,826	$6,340,134
ROIV	Roivant Sciences Ltd.	207,446	$5,746,254
KOD	Kodiak Sciences Inc.	114,719	$4,373,088
ARWR	Arrowhead Pharmaceuticals, Inc.	64,279	$4,030,293
EPRX	Eupraxia Pharmaceuticals Inc.	540,871	$3,915,906
DFTX	Definium Therapeutics, Inc.	205,317	$3,880,491
CAPR	Capricor Therapeutics, Inc.	123,831	$3,764,462
ILMN	Illumina, Inc.	28,869	$3,558,392
GMED	Globus Medical Inc	16,923	$1,458,085
No positions match the current search.

Sold Out

Positions the filer fully exited

18 positions

Ticker	Company	Shares	Value
ADMA	Adma Biologics, Inc.	1,270,894	$23,181,106
MDT	Medtronic plc	213,796	$20,537,243
MRK	Merck & Co., Inc.	187,834	$19,771,406
UHS	Universal Health Services Inc	57,409	$12,516,310
TFX	Teleflex Inc	102,395	$12,496,285
ISRG	Intuitive Surgical Inc	15,410	$8,727,607
GILD	Gilead Sciences, Inc.	71,018	$8,716,749
CVS	CVS HEALTH Corp	107,767	$8,552,389
SNY	Sanofi	176,413	$8,548,973
IQV	Iqvia Holdings Inc.	37,852	$8,532,219
VEEV	Veeva Systems Inc	32,489	$7,252,519
ALGN	Align Technology Inc	42,304	$6,605,769
ELAN	Elanco Animal Health Inc	207,311	$4,691,447
MOH	Molina Healthcare, Inc.	22,802	$3,957,059
FTRE	Fortrea Holdings Inc.	165,439	$2,853,822
IRON	Disc Medicine, Inc.	11,002	$873,668
NPCE	NeuroPace Inc	11,329	$174,919
TMCI	Treace Medical Concepts, Inc.	50,000	$122,500
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

76 positions · $986,638,985 total · as of Mar 31, 2026

All sectors Healthcare

Showing 1–50 of 76 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
THC	Tenet Healthcare Corp Healthcare	Added	398,567	+800	$75,213,578	−4.8%	7.62%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Added	117,405	+49,662	$69,618,816	+110.9%	7.06%
LLY	ELI LILLY & Co Healthcare	Reduced	65,762	-2,527	$60,485,914	−17.6%	6.13%
PEN	Penumbra Inc Healthcare	Reduced	139,779	-5,392	$45,899,230	+1.7%	4.65%
AXSM	Axsome Therapeutics, Inc. Healthcare	Added	264,304	+12,742	$44,672,662	−2.8%	4.53%
ASND	Ascendis Pharma A/S Healthcare	Reduced	174,434	-3,251	$39,898,288	+5.3%	4.04%
JAZZ	Jazz Pharmaceuticals plc Healthcare	Added	178,144	+127,633	$33,678,123	+292.2%	3.41%
NBIX	Neurocrine Biosciences Inc Healthcare	Added	215,678	+52,481	$28,413,419	+22.8%	2.88%
GKOS	GLAUKOS Corp Healthcare	Added	215,685	+14,009	$23,220,647	+2.0%	2.35%
CNTA	Centessa Pharmaceuticals plc Healthcare	Reduced	528,224	-63,377	$20,981,057	+41.8%	2.13%
INBX	Inhibrx Biosciences, Inc. Healthcare	Added	305,431	+39,914	$20,534,126	−2.1%	2.08%
EW	Edwards Lifesciences Corp Healthcare	Added	254,510	+7,675	$20,381,160	−3.1%	2.07%
BBIO	BridgeBio Pharma, Inc. Healthcare	Reduced	257,747	-48,759	$19,140,292	−18.4%	1.94%
MDGL	Madrigal Pharmaceuticals, Inc. Healthcare	Added	34,146	+26,888	$17,874,406	+322.9%	1.81%
INDV	Indivior Pharmaceuticals, Inc. Healthcare	NEW	574,666	NEW	$17,515,819	NEW	1.78%
UNH	Unitedhealth Group Inc Healthcare	Added	58,038	+7,499	$15,704,502	−5.9%	1.59%
DNTH	Dianthus Therapeutics, Inc. /DE/ Healthcare	Added	172,137	+72,561	$14,445,737	+252.0%	1.46%
ABT	Abbott Laboratories Healthcare	NEW	140,432	NEW	$14,418,153	NEW	1.46%
RVMD	Revolution Medicines, Inc. Healthcare	Reduced	140,770	-10,683	$13,689,882	+13.5%	1.39%
ACHC	Acadia Healthcare Company, Inc. Healthcare	NEW	582,745	NEW	$13,630,405	NEW	1.38%
NEO	Neogenomics Inc Healthcare	Added	1,784,552	+90,501	$13,241,375	−33.5%	1.34%
COO	Cooper Companies, Inc. Healthcare	Added	169,829	+69,027	$12,142,773	+47.0%	1.23%
NTRA	Natera, Inc. Healthcare	NEW	60,004	NEW	$12,000,199	NEW	1.22%
ITGR	Integer Holdings Corp Healthcare	Added	135,081	+28,496	$11,887,128	+42.2%	1.20%
RYTM	Rhythm Pharmaceuticals, Inc. Healthcare	Added	136,621	+96,411	$11,881,928	+176.1%	1.20%
WAT	Waters Corp /De/ Healthcare	Reduced	39,763	-3,445	$11,841,421	−27.8%	1.20%
AMRX	Amneal Pharmaceuticals, Inc. Healthcare	Reduced	930,096	-535,384	$11,561,093	−37.4%	1.17%
PRAX	Praxis Precision Medicines, Inc. Healthcare	Added	35,438	+4,275	$11,417,769	+24.3%	1.16%
HSIC	Henry Schein Inc Healthcare	NEW	153,114	NEW	$11,284,501	NEW	1.14%
CGON	CG Oncology, Inc. Healthcare	Added	165,925	+1,958	$11,229,804	+65.0%	1.14%
MMSI	Merit Medical Systems Inc Healthcare	NEW	162,469	NEW	$11,198,988	NEW	1.14%
CLDX	Celldex Therapeutics, Inc. Healthcare	Added	324,957	+191,796	$10,307,636	+185.0%	1.04%
BLTE	Belite Bio, Inc Healthcare	Added	59,432	+39,609	$9,475,838	+198.8%	0.96%
DXCM	Dexcom Inc Healthcare	Reduced	149,734	-77,623	$9,403,295	−37.7%	0.95%
TERN	Terns Pharmaceuticals, Inc. Healthcare	NEW	172,962	NEW	$9,118,556	NEW	0.92%
CNC	Centene Corp Healthcare	Reduced	263,486	-834,238	$8,626,531	−80.9%	0.87%
VKTX	Viking Therapeutics, Inc. Healthcare	Added	263,106	+74,150	$8,561,469	+28.8%	0.87%
ORKA	Oruka Therapeutics, Inc. Healthcare	NEW	174,052	NEW	$8,537,250	NEW	0.87%
TNGX	Tango Therapeutics, Inc. Healthcare	NEW	406,245	NEW	$8,498,645	NEW	0.86%
HCA	HCA Healthcare, Inc. Healthcare	Added	17,951	+4,086	$8,495,131	+31.2%	0.86%
SLNO	Soleno Therapeutics Inc Healthcare	Added	248,180	+287	$8,309,066	−27.6%	0.84%
BTSG	BrightSpring Health Services, Inc. Healthcare	Added	187,335	+68,810	$7,982,344	+79.8%	0.81%
CMPS	COMPASS Pathways plc Healthcare	Added	1,367,099	+587,481	$7,560,057	+40.5%	0.77%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	14,832	-23,083	$7,290,372	−66.8%	0.74%
NVO	Novo Nordisk A S Healthcare	NEW	197,181	NEW	$7,246,401	NEW	0.73%
SYK	Stryker Corp Healthcare	Reduced	21,957	-28,895	$7,214,850	−59.6%	0.73%
VERA	Vera Therapeutics, Inc. Healthcare	Added	174,867	+67,177	$7,034,899	+29.0%	0.71%
BLLN	BillionToOne, Inc. Healthcare	Added	88,069	+522	$6,952,166	−3.0%	0.70%
CAH	Cardinal Health Inc Healthcare	Reduced	31,941	-30,400	$6,749,452	−47.3%	0.68%
ICLR	Icon PLC Healthcare	Reduced	57,500	-57,836	$6,362,950	−69.7%	0.64%