Institutional Manager · CIK 0001442756
PFM Health Sciences, LP
SAN FRANCISCO, CA · File #028-13169
Latest AUM
$1.00B
Positions
78
Top-10 Concentration
44.8%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | ELI LILLY & CO | LLY | -156,850 | -$168.6M | +$70.2M |
| EXITED | SPDR SERIES TRUST | 78464A870 | -717,400 | -$71.9M | $0 |
| EXITED | MCKESSON CORP | 58155Q103 | -72,313 | -$55.9M | $0 |
| REDUCE | AXSOME THERAPEUTICS INC | AXSM | -278,770 | -$50.9M | +$32.5M |
| REDUCE | INTUITIVE SURGICAL INC | ISRG | -61,993 | -$35.1M | +$9.2M |
| EXITED | HUMANA INC | 444859102 | -110,000 | -$28.6M | $0 |
| EXITED | CENCORA INC | 03073E105 | -80,493 | -$25.2M | $0 |
| REDUCE | HCA HEALTHCARE INC | HCA | -51,908 | -$24.2M | +$2.7M |
| NEW | GLAUKOS CORP | GKOS | +201,676 | +$22.8M | $0 |
| ADD | THERMO FISHER SCIENTIFIC INC | TMO | +35,601 | +$20.6M | +$218,511 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202578 pos · $1.00B
- 13F HOLDINGS REPORTQ/E Sep 202572 pos · $1.30B
- 13F HOLDINGS REPORTQ/E Jun 202557 pos · $1.17B
- 13F HOLDINGS REPORTQ/E Mar 202566 pos · $1.38B
- 13F HOLDINGS REPORTQ/E Dec 202483 pos · $1.61B
- 13F HOLDINGS REPORTQ/E Sep 202475 pos · $1.76B
- 13F HOLDINGS REPORTQ/E Jun 202478 pos · $2.02B
- 13F HOLDINGS REPORTQ/E Mar 202487 pos · $2.13B
- 13F HOLDINGS REPORTQ/E Dec 202373 pos · $2.12B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | TENET HEALTHCARE CORP | THC | 397,767 | $79.0M | 8.56% |
| 2 | ELI LILLY & CO | LLY | 68,289 | $73.4M | 7.95% |
| 3 | AXSOME THERAPEUTICS INC | AXSM | 251,562 | $45.9M | 4.97% |
| 4 | PENUMBRA INC | PEN | 145,171 | $45.1M | 4.89% |
| 5 | ASCENDIS PHARMA A/S | ASND | 177,685 | $37.9M | 4.10% |
| 6 | UNITED THERAPEUTICS CORP DEL | UTHR | 67,743 | $33.0M | 3.57% |
| 7 | CENTENE CORP DEL | CNC | 725,424 | $29.9M | 3.23% |
| 8 | BRIDGEBIO PHARMA INC | BBIO | 306,506 | $23.4M | 2.54% |
| 9 | ADMA BIOLOGICS INC | ADMA | 1,270,894 | $23.2M | 2.51% |
| 10 | NEUROCRINE BIOSCIENCES INC | NBIX | 163,197 | $23.1M | 2.51% |
| 11 | GLAUKOS CORP | GKOS | 201,676 | $22.8M | 2.47% |
| 12 | THERMO FISHER SCIENTIFIC INC | TMO | 37,915 | $22.0M | 2.38% |
| 13 | EDWARDS LIFESCIENCES CORP | EW | 246,835 | $21.0M | 2.28% |
| 14 | ICON PLC | ICLR | 115,336 | $21.0M | 2.28% |
| 15 | INHIBRX BIOSCIENCES INC | INBX | 265,517 | $21.0M | 2.27% |
| 16 | MEDTRONIC PLC | MDT | 213,796 | $20.5M | 2.22% |
| 17 | NEOGENOMICS INC | NEO | 1,694,051 | $19.9M | 2.16% |
| 18 | MERCK & CO INC | MRK | 187,834 | $19.8M | 2.14% |
| 19 | AMNEAL PHARMACEUTICALS INC | AMRX | 1,465,480 | $18.5M | 2.00% |
| 20 | STRYKER CORPORATION | SYK | 50,852 | $17.9M | 1.94% |