Q2 2026 13F · SEC CIK 1442756

PFM Health Sciences, LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.2B
Reported positions: 96
Top holdings a year, 3 yrs: +12.6%
Assets under management: $1.3B

PFM Health Sciences, LP is a hedge fund that reported 96 positions worth $1.2B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Ascendis Pharma A/s (ASND, 5.4%), Axsome Therapeutics, Inc. (AXSM, 4.7%), Eli Lilly & Co (LLY, 4.1%). A portfolio copying its top holdings returned 12.6% a year over the last 3 years, against 20.4% for the S&P 500.

PFM Health Sciences, LP holdings largest 50 of 96 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

PFM Health Sciences, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
ASNDAscendis Pharma A/s	5.4%	—	233,171	—	$62.2M
AXSMAxsome Therapeutics, Inc.	4.7%	4.8%	219,596	-16.9%	$53.8M
LLYEli Lilly & Co	4.1%	6.5%	39,258	-40.3%	$47.1M
JAZZJazz Pharmaceuticals PLC	3.4%	3.6%	160,768	-9.8%	$38.7M
HUMHumana Inc	3.3%	—	94,375	—	$37.5M
UNHUnitedhealth Group Inc	3.2%	1.7%	88,276	+52.1%	$36.7M
NBIXNeurocrine Biosciences Inc	3.1%	3.0%	213,407	-1.1%	$36.0M
INBXInhibrx Biosciences Inc	2.5%	2.2%	308,385	+1.0%	$29.2M
UTHRUnited Therapeutics Corp Del	2.4%	2.5%	49,991	+25.6%	$27.1M
RVMDRevolution Medicines Inc	2.3%	1.5%	143,222	+1.7%	$26.8M
ICLRIcon Plc	2.1%	0.7%	136,482	+137.4%	$23.7M
THCTenet Healthcare Corp	2.1%	8.1%	126,572	-68.2%	$23.7M
EWEdwards Lifesciences Corp	2.0%	2.2%	250,453	-1.6%	$22.7M
WATWaters Corp	1.9%	1.3%	59,825	+50.5%	$22.4M
PENPenumbra, Inc.	1.7%	4.9%	60,221	-56.9%	$19.0M
BBIOBridgebio Pharma Inc	1.6%	2.1%	253,358	-1.7%	$18.9M
SYKStryker Corporation	1.5%	0.8%	56,637	+157.9%	$17.8M
MTDMettler Toledo International	1.5%	—	13,344	—	$17.0M
INDVIndivior Pharmaceuticals Inc	1.4%	1.9%	401,208	-30.2%	$16.5M
MRKMerck & Co Inc	1.4%	—	127,118	—	$16.3M
CYTKCytokinetics	1.4%	—	191,686	—	$16.3M
LNTHLantheus Hldgs Inc	1.4%	—	146,403	—	$16.2M
CNCCentene Corp Del	1.4%	0.9%	248,867	-5.5%	$16.0M
COOCooper Cos Inc	1.4%	1.3%	220,890	+30.1%	$15.8M
MDGLMadrigal Pharmaceuticals Inc	1.4%	1.9%	29,313	-14.2%	$15.7M
ACHCAcadia Healthcare Company in	1.3%	1.5%	524,934	-9.9%	$15.5M
ORKAOruka Therapeutics Inc	1.3%	0.9%	158,825	-8.7%	$15.1M
OSCROscar Health, Inc.	1.3%	—	519,016	—	$14.8M
TMOThermo Fisher Scientific Inc	1.2%	0.8%	28,496	+92.1%	$14.3M
CVSCvs Health Corp	1.2%	—	137,457	—	$14.2M
MMSIMerit Med Sys Inc	1.2%	1.2%	197,038	+21.3%	$13.7M
PRAXPraxis Precision Medicines I	1.1%	1.2%	38,575	+8.9%	$12.9M
CLDXCelldex Therapeutics Inc New	1.1%	1.1%	342,751	+5.5%	$12.8M
NVONovo-Nordisk A S	1.1%	0.8%	265,016	+34.4%	$12.7M
ITGRInteger Hldgs Corp	1.0%	1.3%	126,669	-6.2%	$11.8M
DNTHDianthus Therapeutics Inc	1.0%	1.5%	121,222	-29.6%	$11.8M
24477V105Definium Therapeutics Inc	1.0%	—	249,020	—	$11.7M
GILDGilead Sciences Inc	1.0%	—	90,858	—	$11.5M
RYTMRhythm Pharmaceuticals Inc	1.0%	1.3%	101,550	-25.7%	$11.3M
HSICSchein Henry Inc Com	1.0%	1.2%	134,423	-12.2%	$11.2M
ARWRArrowhead Pharmaceuticals in	0.9%	—	131,667	—	$10.7M
TNGXTango Therapeutics Inc	0.9%	0.9%	326,047	-19.7%	$10.2M
TFXTeleflex Incorporated	0.9%	—	79,708	—	$10.1M
VKTXViking Therapeutics Inc	0.9%	0.9%	255,330	-3.0%	$10.0M
BTSGBrightspring Health Services I	0.9%	0.9%	141,914	-24.2%	$9.9M
VERAVera Therapeutics Inc Class A	0.8%	0.8%	224,289	+28.3%	$9.6M
ROIVRoivant Sciences Ltd	0.8%	—	268,008	—	$9.5M
CGONCg Oncology Inc	0.8%	1.2%	128,286	-22.7%	$9.1M
AMRXAmneal Pharmaceuticals Inc	0.7%	1.2%	480,715	-48.3%	$8.3M
EPRXEupraxia Pharmaceuticals Inc	0.7%	—	1,210,661	—	$8.0M

What PFM Health Sciences, LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +37.1% /yr; S&P 500 +20.1%
3 years: +12.6% /yr; S&P 500 +20.4%
5 years: +6.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.2B	96
Q1 2026	$933.3M	76
Q4 2025	$972.6M	76
Q3 2025	$1.2B	66
Q2 2025	$1.1B	55
Q1 2025	$1.3B	62
Q4 2024	$1.3B	71
Q3 2024	$1.7B	72
Q2 2024	$1.8B	71
Q1 2024	$2.0B	79
Q4 2023	$1.6B	59
Q3 2023	$2.0B	67

Questions about PFM Health Sciences, LP's portfolio

What stocks does PFM Health Sciences, LP own?

PFM Health Sciences, LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 96 positions worth $1.2B. The largest are Ascendis Pharma A/s (ASND) at 5.4%, Axsome Therapeutics, Inc. (AXSM) at 4.7%, Eli Lilly & Co (LLY) at 4.1%, Jazz Pharmaceuticals PLC (JAZZ) at 3.4% and Humana Inc (HUM) at 3.3%.

What did PFM Health Sciences, LP buy last quarter?

In Q2 2026, PFM Health Sciences, LP added Stryker Corporation (SYK) (+157.9% shares), Icon Plc (ICLR) (+137.4% shares) and Thermo Fisher Scientific Inc (TMO) (+92.1% shares), compared with its Q1 2026 filing.

What did PFM Health Sciences, LP sell last quarter?

In Q2 2026, PFM Health Sciences, LP cut from its top 50 Ascendis Pharma A/s, cut from its top 50 Glaukos Corp (GKOS), cut from its top 50 Centessa Pharmaceuticals PLC (CNTA), cut from its top 50 Abbott Laboratories (ABT), cut from its top 50 Neogenomics Inc (NEO), Tenet Healthcare Corp (THC) (-68.2% shares), Penumbra, Inc. (PEN) (-56.9% shares) and Amneal Pharmaceuticals Inc (AMRX) (-48.3% shares), compared with its Q1 2026 filing.

How has PFM Health Sciences, LP's portfolio performed?

A portfolio copying PFM Health Sciences, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +12.6% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +37.1% against +20.1%. Over 5 years: +6.6% a year against +11.6%.

When is PFM Health Sciences, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. PFM Health Sciences, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does PFM Health Sciences, LP manage?

PFM Health Sciences, LP reported $1.3B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.2B.