PFM Health Sciences, LP

CIK 0001442756 · Q1 2026

13F Equity AUM

$1.1B

+9.3% QoQ

Positions

+2 QoQ

AUM Rank

#2,639

Top 21%

Skill Alpha (FF)

+3.5%/yr^ns

No Clear Edge

Rank #825 · Top 10%

vs S&P -0.7%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 28.2%Top 10: 44.8%Top 20: 61.8%

THC6.9%

UTH6.3%

LLY5.5%

XBI5.3%

PEN4.2%

AXSM4.1%

ASND3.6%

XLV3.2%

JAZZ3.1%

NBIX2.6%

Others (69)55.2%

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

Sector Allocation

Healthcare91.5%

Financial Services8.5%

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

Position Sizing

Positions: 79Median: 0.78%Avg: 1.27%

0–0.5%

19(4.8%)

0.5–1%

26(17.7%)

1–3%

25(35.3%)

3–5%

5(18.2%)

5%+

4(24.0%)

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

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Portfolio Overlap

Shared: 79Unique: 0vs 20 funds

1.1%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)

BlackRock, Inc.

1.9%

MORGAN STANLEY

1.4%

BANK OF AMERICA CORP /DE/

1.6%

GEODE CAPITAL MANAGEMENT, LLC

2.1%

STATE STREET CORP

2.1%

JPMORGAN CHASE & CO

1.5%

FMR LLC

2.4%

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

2.3%

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

New21Increased39Decreased17Exited19

New Positions

XBI5.3%

+455K

XLV3.2%

+239K

INDV1.6%

+575K

ABT1.3%

+140K

ACHC1.2%

+583K

NTRA1.1%

+60K

HSIC1.0%

+153K

MMSI1.0%

+162K

TERN0.8%

+173K

ORKA0.8%

+174K

Increased

ASND 2.25 04/01/281.5%

+850K(+8%)

CMPS0.7%

+587K(+75%)

TCE20.9%

+192K(+144%)

JAZZ3.1%

+128K(+253%)

RYTM1.1%

+96K(+240%)

MLYS0.3%

+95K(+200%)

NEO1.2%

+91K(+5%)

VKTX0.8%

+74K(+39%)

DNTH1.3%

+73K(+73%)

COO1.1%

+69K(+68%)

Decreased

CNC0.8%

-834,238(-76%)

AMRX1.1%

-535,384(-37%)

DC40.9%

-77,623(-34%)

RZLT0.0%

-77,539(-38%)

CNTA1.9%

-63,377(-11%)

ICLR0.6%

-57,836(-50%)

BBIO1.8%

-48,759(-16%)

CAH0.6%

-30,400(-49%)

SYK0.7%

-28,895(-57%)

TMO0.7%

-23,083(-61%)

Exited

ADMA

-1,270,894

MDT

-213,796

MRK

-187,834

INDIVIOR PLC

-360,695

-102,395

-57,409

-15,410

-71,018

-107,767

-37,852

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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