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Livermore
Livermore
ZHEN

PFM Health Sciences, LP

SEC CIK
0001442756
Latest filing
Aug 14, 2026

The latest 13F from PFM Health Sciences, LP covers Q2 2026 (filed Aug 14, 2026): 96 long positions worth $1.15B. The top 10 holdings make up 34.3% of the portfolio, and the largest is Ascendis Pharma A/S (ASND) at 5.4%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
32
Est. +$246.7M
Added
23
Est. +$113.6M
Reduced
41
Est. −$214.6M
Sold out
13
Est. −$132.1M

Top 5 holdings

Share of this quarter's portfolio value

  1. ASNDAscendis Pharma A/S
    5.4%$62.2MHistory
  2. AXSMAxsome Therapeutics, Inc.
    4.7%$53.8MHistory
  3. LLYEli Lilly & Co
    4.1%$47.1MHistory
  4. JAZZJazz Pharmaceuticals plc
    3.4%$38.7MHistory
  5. HUMHumana Inc
    3.3%$37.5MHistory

Share of portfolio

Top 5 holdings and the other 91 positions, by share of portfolio value

  1. ASND5.4%
  2. AXSM4.7%
  3. LLY4.1%
  4. JAZZ3.4%
  5. HUM3.3%
  6. Other 91 positions79.2%

Biggest buys

New and added positions, by estimated amount bought

  1. HUMHumana Inc
    +$37.5MNewHistory
  2. ASNDAscendis Pharma A/S
    +$21.6MAddedHistory
  3. MTDMettler Toledo International Inc
    +$17.0MNewHistory
  4. MRKMerck & Co., Inc.
    +$16.3MNewHistory
  5. CYTKCytokinetics Inc
    +$16.3MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. HUMHumana Inc
    +3.25 pp0.0% → 3.3%History
  2. ASNDAscendis Pharma A/S
    +1.74 pp3.7% → 5.4%History
  3. UNHUnitedHealth Group Inc
    +1.53 pp1.7% → 3.2%History
  4. MTDMettler Toledo International Inc
    +1.48 pp0.0% → 1.5%History
  5. MRKMerck & Co., Inc.
    +1.42 pp0.0% → 1.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. THCTenet Healthcare Corp
    −$50.9MReducedHistory
  2. LLYEli Lilly & Co
    −$31.8MReducedHistory
  3. PENPenumbra Inc
    −$25.1MReducedHistory
  4. GKOSGLAUKOS Corp
    −$23.2MSold outHistory
  5. CNTACentessa Pharmaceuticals plc
    −$21.0MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. THCTenet Healthcare Corp
    −5.86 pp7.9% → 2.1%History
  2. PENPenumbra Inc
    −3.18 pp4.8% → 1.7%History
  3. GKOSGLAUKOS Corp
    −2.44 pp2.4% → 0.0%History
  4. LLYEli Lilly & Co
    −2.28 pp6.4% → 4.1%History
  5. CNTACentessa Pharmaceuticals plc
    −2.21 pp2.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.15B
+$201.6M (+21.2%) vs. prior quarter
Positions
96
+19 vs. prior quarter
Top 10 concentration
34.3%
Top 10 as share of value
Turnover
33.0%
Q2 2026, one quarter
Average holding period
6.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.11B (Q2 2021)

Q1 2021: $2.87BQ2 2021: $3.11BQ3 2021: $3.08BQ4 2021: $2.87BQ1 2022: $2.59BQ2 2022: $2.56BQ3 2022: $2.61BQ4 2022: $2.37BQ1 2023: $2.17BQ2 2023: $2.49BQ3 2023: $2.09BQ4 2023: $1.67BQ1 2024: $2.01BQ2 2024: $1.83BQ3 2024: $1.74BQ4 2024: $1.31BQ1 2025: $1.30BQ2 2025: $1.15BQ3 2025: $1.17BQ4 2025: $987.7MQ1 2026: $950.2MQ2 2026: $1.15B
Q1 2021Q2 2026
13F filings of PFM Health Sciences, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202696$1.15BASNDAXSMLLYvs. Q1 2026SEC
Q1 2026May 15, 202677$950.2MTHCLLYPENvs. Q4 2025SEC
Q4 2025Feb 17, 202677$987.7MTHCLLYAXSMvs. Q3 2025SEC
Q3 2025Nov 14, 202567$1.17BLLYTHCAXSMvs. Q2 2025SEC
Q2 2025Aug 14, 202556$1.15BLLYTHCMCKvs. Q1 2025SEC
Q1 2025May 15, 202564$1.30BLLYABBVTHCvs. Q4 2024SEC
Q4 2024Feb 14, 202573$1.31BLLYTHCABBVvs. Q3 2024SEC
Q3 2024Nov 14, 202474$1.74BLLYTHCCYTKvs. Q2 2024SEC
Q2 2024Aug 14, 202474$1.83BLLYCYTKTHCvs. Q1 2024SEC
Q1 2024May 14, 202483$2.01BLLYCYTKMRKvs. Q4 2023SEC
Q4 2023Feb 14, 202463$1.67BLLYCYTKMRKvs. Q3 2023SEC
Q3 2023Nov 14, 202370$2.09BLLYHUMABBVvs. Q2 2023SEC
Q2 2023Aug 14, 202379$2.49BLLYPENHZNPvs. Q1 2023SEC
Q1 2023May 15, 202374$2.17BHZNPLLYPENvs. Q4 2022SEC
Q4 2022Feb 14, 202378$2.37BHZNPCYTKLLYvs. Q3 2022SEC
Q3 2022Nov 14, 202280$2.61BCYTKLLYBMRNvs. Q2 2022SEC
Q2 2022Aug 15, 202275$2.56BJNJCYTKLLYvs. Q1 2022SEC
Q1 2022May 16, 202267$2.59BOMHZNPRCUSvs. Q4 2021SEC
Q4 2021Feb 14, 202269$2.87BRCUSOMABBVvs. Q3 2021SEC
Q3 2021Nov 15, 202175$3.08BHZNPOMLLYvs. Q2 2021SEC
Q2 2021Aug 16, 202179$3.11BALXNHZNPOMvs. Q1 2021SEC
Q1 2021May 17, 202176$2.87BOMALXNHZNP–SEC

13D and 13G filings

Companies where PFM Health Sciences, LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

PFM Health Sciences, LP does not currently report owning 5% or more of any company.

Latest filings

54 filings on file made by PFM Health Sciences, LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by PFM Health Sciences, LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
OMOutset Medical, Inc.Feb 17, 20264:02 PM ET13G/A2.90%530.8K shares−6.50 ppfrom 9.40%Below 5%Dec 31, 2025SEC
HOWLWerewolf Therapeutics, Inc.Aug 14, 20254:48 PM ET13G/A0.90%401.1K shares−5.60 ppfrom 6.50%Below 5%Jun 30, 2025SEC
PMVPPMV Pharmaceuticals, Inc.Aug 14, 20254:02 PM ET13G/A0.00%0 shares−6.40 ppfrom 6.40%Below 5%Jun 30, 2025SEC
PMVPPMV Pharmaceuticals, Inc.May 15, 20254:08 PM ET13G/A6.40%3.30M shares+1.40 ppfrom 5.00%Mar 31, 2025SEC
OMOutset Medical, Inc.Mar 17, 20254:03 PM ET13G9.40%25.0M shares–Mar 10, 2025SEC
PMVPPMV Pharmaceuticals, Inc.Feb 21, 20254:02 PM ET13G5.00%2.60M sharesNewFeb 13, 2025SEC
HOWLWerewolf Therapeutics, Inc.Feb 14, 20254:07 PM ET13G/A6.50%2.91M shares–Dec 31, 2024SEC
EPIXESSA Pharma Inc.Feb 14, 20254:06 PM ET13G/A0.00%0 shares–Below 5%Dec 31, 2024SEC
EPIXESSA Pharma Inc.Nov 14, 202413G/AOld format–––SEC
HOWLWerewolf Therapeutics, Inc.Nov 14, 202413G/AOld format–––SEC
CRBUCaribou Biosciences, Inc.Nov 14, 202413G/AOld format–––SEC
DRUGBright Minds Biosciences Inc.Oct 22, 202413G/AOld format–––SEC
HOWLWerewolf Therapeutics, Inc.Feb 14, 202413G/AOld format–––SEC
EPIXESSA Pharma Inc.Feb 14, 202413G/AOld format–––SEC
CRBUCaribou Biosciences, Inc.Feb 14, 202413G/AOld format–––SEC
BLUEbluebird bio, Inc.Feb 14, 202413G/AOld format–––SEC
PRAXPraxis Precision Medicines, Inc.Feb 14, 202413G/AOld format–––SEC
BLUEbluebird bio, Inc.Apr 21, 202313GOld format–New–SEC
OMOutset Medical, Inc.Feb 14, 202313G/AOld format–––SEC
JNCEJounce Therapeutics, Inc.Feb 14, 202313G/AOld format–––SEC