Patient Square Capital LP

CIK 0001819257 · Q1 2026

13F Equity AUM

$563.6M

+20.6% QoQ

Positions

+1 QoQ

AUM Rank

#4,018

Top 32%

Skill Alpha (FF)

+71.5%/yr^ns

No Clear Edge

Rank #5 · Top 0.1%

vs S&P -15.2%/yr (unadj.)

Quarters Tracked

~3 years

Portfolio Concentration

Top 5: 57.8%Top 10: 73.3%Top 20: 92.0%

ROIV40.1%

ARGX4.8%

IM8N4.6%

ONC4.2%

COGT4.1%

MIRM3.8%

BLTE3.3%

LEGN3.2%

NKTR2.7%

DBVT2.6%

Others (19)26.7%

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

Sector Allocation

Healthcare100.0%

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

Position Sizing

Positions: 29Median: 1.82%Avg: 3.45%

0–0.5%

1(0.0%)

0.5–1%

4(3.3%)

1–3%

16(28.7%)

3–5%

7(27.9%)

5%+

1(40.1%)

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

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Portfolio Overlap

Shared: 29Unique: 0vs 20 funds

0.4%Low

Fund positions

7,299

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.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

0.6%

GEODE CAPITAL MANAGEMENT, LLC

0.8%

BlackRock, Inc.

0.7%

STATE STREET CORP

0.8%

BANK OF AMERICA CORP /DE/

0.5%

FMR LLC

0.8%

VANGUARD CAPITAL MANAGEMENT LLC

0.7%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.7%

JPMORGAN CHASE & CO

0.4%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New7Increased11Decreased10Exited6

New Positions

BLTE3.3%

+117K

LEGN3.2%

+990K

NKTR2.7%

+210K

MRK1.7%

+80K

DFTX1.1%

+331K

TARA0.9%

+1.0M

CTMX0.9%

+1.1M

Increased

CATX1.2%

+492K(+43%)

DBVT2.6%

+334K(+93%)

COGT4.1%

+279K(+88%)

ARQT1.7%

+191K(+91%)

HROW1.0%

+158K(+2250%)

XENE2.3%

+91K(+66%)

RCUS0.8%

+25K(+15%)

EYPT1.8%

+15K(+2%)

ONC4.2%

+11K(+16%)

ARGX4.8%

+11K(+41%)

Decreased

ALLO1.5%

-1,513,756(-31%)

SYRE0.0%

-149,000(-99%)

IM8N4.6%

-109,500(-41%)

ELVN1.4%

-108,141(-35%)

MIRM3.8%

-68,682(-23%)

DNTH1.4%

-56,118(-37%)

PHVS2.5%

-49,696(-9%)

KYMR1.5%

-39,000(-28%)

CELC1.9%

-25,000(-21%)

ABVX2.4%

-8,755(-7%)

Exited

-320,000

-227,000

-490,000

-74,000

-311,966

-350,000

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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