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Livermore
Livermore
ZHEN

Krensavage Asset Management, LLC

SEC CIK
0001609251
Latest filing
Aug 13, 2026

The latest 13F from Krensavage Asset Management, LLC covers Q2 2026 (filed Aug 13, 2026): 18 long positions worth $263.2M. The top 10 holdings make up 89.4% of the portfolio, and the largest is Enanta Pharmaceuticals Inc (ENTA) at 15.9%. 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
0
Added
4
Est. +$20.4M
Reduced
2
Est. −$10.6M
Sold out
2
Est. −$14.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. ENTAEnanta Pharmaceuticals Inc
    15.9%$41.8MHistory
  2. JAZZJazz Pharmaceuticals plc
    15.4%$40.4MHistory
  3. UTHRUnited Therapeutics Corp
    14.3%$37.5MHistory
  4. BMRNBiomarin Pharmaceutical Inc
    11.4%$30.0MHistory
  5. EXELExelixis, Inc.
    7.7%$20.2MHistory

Share of portfolio

Top 5 holdings and the other 13 positions, by share of portfolio value

  1. ENTA15.9%
  2. JAZZ15.4%
  3. UTHR14.3%
  4. BMRN11.4%
  5. EXEL7.7%
  6. Other 13 positions35.4%

Biggest buys

New and added positions, by estimated amount bought

  1. ABTAbbott Laboratories
    +$17.7MAddedHistory
  2. EMBCEmbecta Corp.
    +$1.30MAddedHistory
  3. REGNRegeneron Pharmaceuticals, Inc.
    +$1.25MAddedHistory
  4. ARDXArdelyx, Inc.
    +$176.1KAddedHistory

Largest weight increases

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

  1. ABTAbbott Laboratories
    +6.69 pp0.2% → 6.9%History
  2. REGNRegeneron Pharmaceuticals, Inc.
    +0.21 pp1.2% → 1.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. INDVIndivior Pharmaceuticals, Inc.
    −$10.3MSold outHistory
  2. UTHRUnited Therapeutics Corp
    −$8.13MReducedHistory
  3. ALKSAlkermes plc.
    −$3.81MSold outHistory
  4. EXELExelixis, Inc.
    −$2.45MReducedHistory

Largest weight decreases

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

  1. UTHRUnited Therapeutics Corp
    −5.28 pp19.5% → 14.3%History
  2. INDVIndivior Pharmaceuticals, Inc.
    −4.05 pp4.0% → 0.0%History
  3. ALKSAlkermes plc.
    −1.49 pp1.5% → 0.0%History

Metrics

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

Portfolio value
$263.2M
+$7.53M (+2.9%) vs. prior quarter
Positions
18
−2 vs. prior quarter
Top 10 concentration
89.4%
Top 10 as share of value
Turnover
7.9%
Q2 2026, one quarter
Average holding period
12.3 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 $329.3M (Q1 2023)

Q1 2021: $288.9MQ2 2021: $294.5MQ3 2021: $318.8MQ4 2021: $288.3MQ1 2022: $290.1MQ2 2022: $302.5MQ3 2022: $314.1MQ4 2022: $323.6MQ1 2023: $329.3MQ2 2023: $315.6MQ3 2023: $271.6MQ4 2023: $281.9MQ1 2024: $225.5MQ2 2024: $217.8MQ3 2024: $178.5MQ4 2024: $169.0MQ1 2025: $180.9MQ2 2025: $188.9MQ3 2025: $234.7MQ4 2025: $283.1MQ1 2026: $255.7MQ2 2026: $263.2M
Q1 2021Q2 2026
13F filings of Krensavage Asset Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202618$263.2MENTAJAZZUTHRvs. Q1 2026SEC
Q1 2026May 15, 202620$255.7MUTHRENTAJAZZvs. Q4 2025SEC
Q4 2025Feb 18, 202618$283.1MUTHRENTABMRNvs. Q3 2025SEC
Q3 2025Nov 17, 202517$234.7MUTHRENTAJAZZvs. Q2 2025SEC
Q2 2025Aug 15, 202515$188.9MUTHRCAHEXELvs. Q1 2025SEC
Q1 2025May 15, 202514$180.9MEXELUTHRCAHvs. Q4 2024SEC
Q4 2024Feb 18, 2025Amended12$169.0MUTHREXELCAHvs. Q3 2024SEC
Q3 2024Nov 15, 202413$178.5MUTHREXELCAHvs. Q2 2024SEC
Q2 2024Aug 15, 202413$217.8MEXELUTHRBIIBvs. Q1 2024SEC
Q1 2024May 15, 202412$225.5MEXELUTHRBIIBvs. Q4 2023SEC
Q4 2023Feb 14, 202412$281.9MEXELUTHRBIIBvs. Q3 2023SEC
Q3 2023Nov 15, 202312$271.6MUTHREXELBIIBvs. Q2 2023SEC
Q2 2023Aug 11, 202312$315.6MBIIBUTHRREGNvs. Q1 2023SEC
Q1 2023May 16, 202312$329.3MBIIBREGNUTHRvs. Q4 2022SEC
Q4 2022Feb 15, 202312$323.6MUTHRBIIBREGNvs. Q3 2022SEC
Q3 2022Nov 15, 202214$314.1MBIIBUTHRREGNvs. Q2 2022SEC
Q2 2022Aug 16, 202214$302.5MUTHRALKSREGNvs. Q1 2022SEC
Q1 2022May 17, 202213$290.1MREGNENTAMCKvs. Q4 2021SEC
Q4 2021Feb 15, 202210$288.3MUTHRREGNENTAvs. Q3 2021SEC
Q3 2021Nov 16, 202113$318.8MENTAALKSREGNvs. Q2 2021SEC
Q2 2021Aug 13, 202113$294.5MREGNALKSENTAvs. Q1 2021SEC
Q1 2021May 18, 202112$288.9MENTAUTHRTaro Pharmaceutical Inds Ltd–SEC

13D and 13G filings

Companies where Krensavage Asset Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Krensavage Asset Management, LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
ENTAEnanta Pharmaceuticals Inc13G5.10%1.09M sharesNewFeb 27, 20241 filingFeb 27, 2024SEC

Latest filings

2 filings on file made by Krensavage Asset Management, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Krensavage Asset Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
ENTAEnanta Pharmaceuticals IncFeb 27, 20241:11 PM ET13G5.10%1.09M sharesNewFeb 22, 2024SEC
SRGASurgalign Holdings, Inc.Feb 19, 202113G/AOld format–––SEC