Patient Square Capital LP

CIK

1819257

Location

MENLO PARK, CA

Portfolio Value

Small $645,523,808

Diversification

Moderately concentrated

Filing Date

Global Rank

#3,296 / 8,818 ▲ 22

Top Industry

Biotechnology 96.9%

3Y Alpha vs SPY

+25.8%

Period ended 4 months ago

Filed Aug 12, 2026 · 3mo

15 quarters · since Dec 2022

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 80.1% of the book (60%+)

Turnover

Medium turnover

69.1% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 8.7 quarters (4 to under 12)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 98.8%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 15 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

23 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

44.0%

+3.8 pts

Top 5

64.9%

+7.2 pts

Top 10

80.1%

+6.9 pts

HHI

2,134

Moderately concentrated+351

Portfolio Trend

15 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$645,523,808	23

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
ALLO	Allogene Therapeutics, Inc.	+1,600,000	5,050,000	$10,504,000
DBVT	DBV Technologies S.A.	+215,940	909,474	$14,915,373
PHVS	Pharvaris N.V.	+178,209	671,209	$23,210,407
RCUS	Arcus Biosciences, Inc.	+160,800	355,800	$10,969,314
ABVX	Abivax S.A.	+85,255	206,500	$27,518,190
MIRM	Mirum Pharmaceuticals, Inc.	+30,500	260,500	$30,496,735
DNTH	Dianthus Therapeutics, Inc.	+14,118	108,000	$10,527,840
ELVN	Enliven Therapeutics, Inc.	+12,500	212,500	$10,784,375
ONC	BeOne Medicines Ltd.	+9,478	90,020	$25,652,999
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
COGT	Cogent Biosciences, Inc.	−171,000	425,000	$16,447,500
ROIV	Roivant Sciences Ltd.	−145,119	8,020,928	$283,860,641
EYPT	EyePoint, Inc.	−75,000	720,000	$10,296,000
KYMR	Kymera Therapeutics, Inc.	−52,500	47,500	$5,446,825
ARQT	Arcutis Biotherapeutics, Inc.	−30,645	370,000	$9,701,400
ARGX	Argenx SE	−13,718	23,000	$21,338,710
XENE	Xenon Pharmaceuticals Inc.	−7,000	220,000	$13,279,200
BLTE	Belite Bio, Inc	−6,684	110,000	$16,938,350
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
RVMD	Revolution Medicines, Inc.	276,000	$51,689,280
UTHR	UNITED THERAPEUTICS Corp	37,120	$20,112,729
BNTX	BioNTech SE	134,429	$12,508,618
CCCC	C4 Therapeutics, Inc.	1,608,815	$7,513,166
IVA	Inventiva S.A.	1,967,171	$7,435,906
FTH	Faeth Therapeutics, Inc.	175,050	$4,376,250
No positions match the current search.

Sold Out

Positions the filer fully exited

12 positions

Ticker	Company	Shares	Value
INSM	INSMED Inc	157,500	$25,754,400
LEGN	Legend Biotech Corp	990,000	$17,909,100
NKTR	Nektar Therapeutics	210,000	$15,109,500
CELC	Celcuity Inc.	95,000	$10,843,300
MRK	Merck & Co., Inc.	80,000	$9,623,200
CATX	Perspective Therapeutics, Inc.	1,625,000	$6,776,250
DFTX	Definium Therapeutics, Inc.	331,000	$6,255,900
HROW	Harrow, Inc.	165,209	$5,825,269
TARA	Protara Therapeutics, Inc.	1,030,846	$5,370,707
CTMX	CytomX Therapeutics, Inc.	1,085,790	$5,103,213
ASMB	Assembly Biosciences, Inc.	136,315	$3,782,741
SYRE	Spyre Therapeutics, Inc.	1,000	$50,440
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

23 tracked positions · $645,523,808 total · filing declares 23 positions · $645,523,811 · as of Jun 30, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
ROIV	Roivant Sciences Ltd. Healthcare	Reduced	8,020,928	-145,119	$283,860,641	+25.5%	15	before history	43.97%
RVMD	Revolution Medicines, Inc. Healthcare	NEW	276,000	NEW	$51,689,280	NEW	1	$146.07	8.01%
MIRM	Mirum Pharmaceuticals, Inc. Healthcare	Added	260,500	+30,500	$30,496,735	+43.5%	7	$66.59	4.72%
ABVX	Abivax S.A. Healthcare	Added	206,500	+85,255	$27,518,190	+103.8%	4	$82.72	4.26%
ONC	BeOne Medicines Ltd. Healthcare	Added	90,020	+9,478	$25,652,999	+7.3%	3	$323.43	3.97%
PHVS	Pharvaris N.V. Healthcare	Added	671,209	+178,209	$23,210,407	+66.7%	8	$23.47	3.60%
ARGX	Argenx SE Healthcare	Reduced	23,000	-13,718	$21,338,710	−20.4%	5	$718.18	3.31%
UTHR	UNITED THERAPEUTICS Corp Healthcare	NEW	37,120	NEW	$20,112,729	NEW	1	$563.19	3.12%
BLTE	Belite Bio, Inc Healthcare	Reduced	110,000	-6,684	$16,938,350	−9.0%	2	$168.17	2.62%
COGT	Cogent Biosciences, Inc. Healthcare	Reduced	425,000	-171,000	$16,447,500	−28.3%	3	$32.23	2.55%
DBVT	DBV Technologies S.A. Healthcare	Added	909,474	+215,940	$14,915,373	+3.0%	3	$18.33	2.31%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Reduced	220,000	-7,000	$13,279,200	+0.6%	3	$43.62	2.06%
BNTX	BioNTech SE Healthcare	NEW	134,429	NEW	$12,508,618	NEW	1	$94.11	1.94%
RCUS	Arcus Biosciences, Inc. Healthcare	Added	355,800	+160,800	$10,969,314	+160.4%	3	$22.44	1.70%
ELVN	Enliven Therapeutics, Inc. Healthcare	Added	212,500	+12,500	$10,784,375	+37.6%	8	$24.63	1.67%
DNTH	Dianthus Therapeutics, Inc. Healthcare	Added	108,000	+14,118	$10,527,840	+33.6%	4	$35.55	1.63%
ALLO	Allogene Therapeutics, Inc. Healthcare	Added	5,050,000	+1,600,000	$10,504,000	+24.8%	7	$1.89	1.63%
EYPT	EyePoint, Inc. Healthcare	Reduced	720,000	-75,000	$10,296,000	+0.5%	8	$8.83	1.59%
ARQT	Arcutis Biotherapeutics, Inc. Healthcare	Reduced	370,000	-30,645	$9,701,400	+2.8%	3	$25.56	1.50%
CCCC	C4 Therapeutics, Inc. Healthcare	NEW	1,608,815	NEW	$7,513,166	NEW	1	$3.42	1.16%
IVA	Inventiva S.A. Healthcare	NEW	1,967,171	NEW	$7,435,906	NEW	1	$4.81	1.15%
KYMR	Kymera Therapeutics, Inc. Healthcare	Reduced	47,500	-52,500	$5,446,825	−34.6%	6	$46.83	0.84%
FTH	Faeth Therapeutics, Inc. Healthcare	NEW	175,050	NEW	$4,376,250	NEW	1	$23.13	0.68%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.