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Livermore
Livermore
ZHEN

Rhenman & Partners Asset Management AB

SEC CIK
0001599882
Latest filing
Aug 13, 2026

The latest 13F from Rhenman & Partners Asset Management AB covers Q2 2026 (filed Aug 13, 2026): 99 long positions worth $1.06B. The top 10 holdings make up 25.1% of the portfolio, and the largest is UnitedHealth Group Inc (UNH) at 3.7%. Livermore has 23 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
20
Est. +$154.6M
Added
41
Est. +$172.6M
Reduced
34
Est. −$122.9M
Sold out
7
Est. −$39.6M

Top 5 holdings

Share of this quarter's portfolio value

  1. UNHUnitedHealth Group Inc
    3.7%$38.9MHistory
  2. CVSCVS Health Corp
    2.7%$28.9MHistory
  3. AZNAstraZeneca PLC
    2.7%$28.5MHistory
  4. MRKMerck & Co., Inc.
    2.6%$27.4MHistory
  5. LLYEli Lilly & Co
    2.5%$26.8MHistory

Share of portfolio

Top 5 holdings and the other 94 positions, by share of portfolio value

  1. UNH3.7%
  2. CVS2.7%
  3. AZN2.7%
  4. MRK2.6%
  5. LLY2.5%
  6. Other 94 positions85.8%

Biggest buys

New and added positions, by estimated amount bought

  1. AZNAstraZeneca PLC
    +$28.5MNewHistory
  2. MRKMerck & Co., Inc.
    +$27.4MNewHistory
  3. UNHUnitedHealth Group Inc
    +$20.0MAddedHistory
  4. JNJJohnson & Johnson
    +$18.4MNewHistory
  5. CNCCentene Corp
    +$15.7MNewHistory

Largest weight increases

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

  1. AZNAstraZeneca PLC
    +2.69 pp0.0% → 2.7%History
  2. MRKMerck & Co., Inc.
    +2.59 pp0.0% → 2.6%History
  3. UNHUnitedHealth Group Inc
    +2.15 pp1.5% → 3.7%History
  4. JNJJohnson & Johnson
    +1.74 pp0.0% → 1.7%History
  5. CNCCentene Corp
    +1.48 pp0.0% → 1.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. LLYEli Lilly & Co
    −$13.7MReducedHistory
  2. REGNRegeneron Pharmaceuticals, Inc.
    −$12.9MReducedHistory
  3. VEEVVeeva Systems Inc
    −$12.1MReducedHistory
  4. ADPTAdaptive Biotechnologies Corp
    −$9.99MSold outHistory
  5. IQVIQVIA Holdings Inc.
    −$9.04MSold outHistory

Largest weight decreases

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

  1. BSXBoston Scientific Corp
    −3.02 pp4.8% → 1.8%History
  2. REGNRegeneron Pharmaceuticals, Inc.
    −2.97 pp4.6% → 1.6%History
  3. INSMINSMED Inc
    −1.69 pp3.2% → 1.5%History
  4. VEEVVeeva Systems Inc
    −1.56 pp1.8% → 0.3%History
  5. LLYEli Lilly & Co
    −1.30 pp3.8% → 2.5%History

Metrics

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

Portfolio value
$1.06B
+$248.9M (+30.7%) vs. prior quarter
Positions
99
+13 vs. prior quarter
Top 10 concentration
25.1%
Top 10 as share of value
Turnover
17.4%
Q2 2026, one quarter
Average holding period
11.4 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 $1.50B (Q4 2021)

Q1 2021: $1.43BQ2 2021: $1.47BQ3 2021: $1.42BQ4 2021: $1.50BQ1 2022: $1.01BQ2 2022: $880.1MQ3 2022: $955.0MQ4 2022: $958.5MQ1 2023: $910.9MQ2 2023: $948.7MQ3 2023: $927.5MQ4 2023: $1.00BQ1 2024: $1.06BQ2 2024: $1.04BQ3 2024: $1.23BQ4 2024: $972.9MQ1 2025: $870.0MQ2 2025: $791.0MQ3 2025: $903.7MQ4 2025: $1.07BQ1 2026: $810.5MQ2 2026: $1.06B
Q1 2021Q2 2026
13F filings of Rhenman & Partners Asset Management AB by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202699$1.06BUNHCVSAZNvs. Q1 2026SEC
Q1 2026May 14, 202686$810.5MBSXREGNLLYvs. Q4 2025SEC
Q4 2025Feb 13, 202694$1.07BREGNLLYBSXvs. Q3 2025SEC
Q3 2025Nov 13, 202592$903.7MBSXLLYABBVvs. Q2 2025SEC
Q2 2025Aug 13, 202590$791.0MLLYBSXVRTXvs. Q1 2025SEC
Q1 2025May 14, 202594$870.0MUNHLLYVRTXvs. Q4 2024SEC
Q4 2024Feb 13, 202592$972.9MBSXLLYPRCTvs. Q3 2024SEC
Q3 2024Nov 13, 202495$1.23BBSXUNHLLYvs. Q2 2024SEC
Q2 2024Aug 13, 202493$1.04BUNHELVBSXvs. Q1 2024SEC
Q1 2024May 14, 202484$1.06BCILLYTHCvs. Q4 2023SEC
Q4 2023Feb 13, 202485$1.00BMDTLLYBSXvs. Q3 2023SEC
Q3 2023Nov 13, 2023Amended85$927.5MLLYBSXBMRNvs. Q2 2023SEC
Q2 2023Aug 11, 202383$948.7MLLYBMRNCIvs. Q1 2023SEC
Q1 2023May 12, 202388$910.9MLilly Eli & CoUNHBSXvs. Q4 2022SEC
Q4 2022Feb 13, 202393$958.5MLLYCORMDTvs. Q3 2022SEC
Q3 2022Nov 14, 202290$955.0MLLYUNHBSXvs. Q2 2022SEC
Q2 2022Aug 12, 202286$880.1MCILLYABBVvs. Q1 2022SEC
Q1 2022May 13, 202289$1.01BLLYHZNPABBVvs. Q4 2021SEC
Q4 2021Feb 11, 202292$1.50BUNHPFELLYvs. Q3 2021SEC
Q3 2021Nov 12, 202192$1.42BHZNPUNHELVvs. Q2 2021SEC
Q2 2021Aug 13, 202194$1.47BUNHHZNPVRTXvs. Q1 2021SEC
Q1 2021May 14, 202192$1.43BHZNPJNJUNH–SEC