PFM Health Sciences, LP

CIK 0001442756 · Q2 2026

13F Equity AUM

$1.2B

+6.3% QoQ

Positions

+17 QoQ

AUM Rank

#2,183

Top 25%

Skill Alpha (FF)

+2.6%/yr^ns

No Clear Edge

Rank #1,159 · Top 14%

vs S&P +0.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 20.5%Top 10: 33.9%Top 20: 51.3%

ASCENDIS PHARMA A/S5.3%

AXSM4.6%

LLY4.0%

JAZZ3.3%

HUM3.2%

UNH3.1%

NBIX3.1%

INBX2.5%

UTH2.3%

RVMD2.3%

Others (86)66.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare93.3%

Unclassified6.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 96Median: 0.80%Avg: 1.04%

0–0.5%

33(9.0%)

0.5–1%

26(18.9%)

1–3%

30(45.3%)

3–5%

6(21.4%)

5%+

1(5.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 96vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New33Increased22Decreased41Exited16

New Positions

ASCENDIS PHARMA A/S5.3%

+233K

HUM3.2%

+94K

MTD1.5%

+13K

CYTK1.4%

+192K

MRK1.4%

+127K

LNTH1.4%

+146K

CVS1.2%

+137K

GILD1.0%

+91K

TFX0.9%

+80K

ABG0.9%

+35K

Increased

EPRX0.7%

+670K(+124%)

ICLR2.0%

+79K(+137%)

KOD0.7%

+79K(+69%)

CNC1.9%

+74K(+28%)

NVO1.1%

+68K(+34%)

ARWR0.9%

+67K(+105%)

ROIV0.8%

+61K(+29%)

COO1.4%

+51K(+30%)

VERA0.8%

+49K(+28%)

DFTX1.0%

+44K(+21%)

Decreased

CMPS0.3%

-1,119,510(-82%)

CRBU0.1%

-603,100(-63%)

AMRX0.7%

-449,381(-48%)

THC2.0%

-271,995(-68%)

INDV1.4%

-173,458(-30%)

SNDX0.2%

-126,599(-52%)

MLYS0.1%

-80,259(-56%)

TNGX0.9%

-80,198(-20%)

PEN1.6%

-79,558(-57%)

UTH2.3%

-67,414(-57%)

Exited

-455,300

-174,434

-238,900

-215,685

-528,224

-11,505,000

-1,784,552

-149,734

-172,962

-248,180

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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