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Patient Square Capital LP

Q4 2025 · Filed 2026-02-12
Market Value
$450M
+22.0%
Holdings
30
+6
New Purchases
8
Added To
10
Closed
5
Reduced
6
Top 10 Concentration
80.4%
Turnover
43.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ONC 4.68% 0.00% +4.68% $21M
MIRM 5.24% 2.07% +3.17% $24M
TERN 2.87% 0.00% +2.87% $13M
COGT 2.50% 0.00% +2.50% $11M
ARGX 4.86% 3.10% +1.76% $22M
XENE 1.36% 0.00% +1.36% $6M
ARQT 1.35% 0.00% +1.35% $6M
CELC 2.66% 1.34% +1.32% $12M
SYRE 1.09% 0.00% +1.09% $5M
PHVS 3.34% 2.33% +1.01% $15M
KYMR 2.40% 1.42% +0.98% $11M
RCUS 0.90% 0.00% +0.90% $4M
ALLO 1.51% 1.00% +0.51% $7M
ABVX 3.89% 3.49% +0.40% $18M
CATX 0.69% 0.32% +0.37% $3M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ROIV 39.36% 51.15% -11.80% $177M
CDTX 0.00% 3.14% -3.14% $0
INSM 10.32% 12.73% -2.41% $46M
AGIO 0.00% 1.46% -1.46% $0
QURE 0.00% 1.19% -1.19% $0
NRIX 0.00% 1.09% -1.09% $0
OCUL 1.32% 2.26% -0.94% $6M
EYPT 3.16% 3.90% -0.74% $14M
LQDA 1.74% 2.46% -0.73% $8M
ELVN 1.05% 1.39% -0.34% $5M
GERN 0.00% 0.31% -0.31% $0
AMLX 0.94% 1.16% -0.23% $4M
IRON 1.31% 1.32% -0.02% $6M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 4 $267M 59.2%
Mid Cap 15 $134M 29.7%
Small Cap 11 $50M 11.0%

Portfolio Analytics

Avg Market Cap
$7.0B
Median Market Cap
$3.1B
Avg P/E
128.5
Median P/E
100.8
Avg Dividend Yield
—%
Avg Beta
0.75
# Stocks
30
# ETFs / Funds
0

Top Holdings (30 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 ROIV 39.36% 8,166,047 $177M $21.70 -$12M -4,313,953 -34.6%
2 INSM 10.32% 267,000 $46M $174.04 -$536K -59,400 -18.2%
3 MIRM 5.24% 298,682 $24M $78.99 $16M +194,420 +186.5%
4 ARGX 4.86% 26,000 $22M $840.95 $10M +10,500 +67.7%
5 ONC 4.68% 69,312 $21M $303.81 +69,312 NEW
6 ABVX 3.89% 130,000 $18M $134.85 $5M -21,833 -14.4%
7 PHVS 3.34% 542,696 $15M $27.75 $6M +197,315 +57.1%
8 EYPT 3.16% 780,000 $14M $18.27 -$158K -231,839 -22.9%
9 TERN 2.87% 320,000 $13M $40.40 +320,000 NEW
10 CELC 2.66% 120,000 $12M $99.74 $7M +20,000 +20.0%
11 COGT 2.50% 317,372 $11M $35.52 +317,372 NEW
12 KYMR 2.40% 139,000 $11M $77.81 $6M +46,408 +50.1%
13 LQDA 1.74% 227,000 $8M $34.49 -$1M -173,000 -43.2%
14 ALLO 1.51% 4,963,756 $7M $1.37 $3M +1,982,360 +66.5%
15 DNTH 1.37% 150,000 $6M $41.21 $1M +25,000 +20.0%
16 XENE 1.36% 136,500 $6M $44.82 +136,500 NEW
17 ARQT 1.35% 210,000 $6M $29.04 +210,000 NEW
18 OCUL 1.32% 490,000 $6M $12.14 -$2M -225,000 -31.5%
19 IRON 1.31% 74,000 $6M $79.41 $986K
20 SYRE 1.09% 150,000 $5M $32.76 +150,000 NEW
21 ELVN 1.05% 308,141 $5M $15.40 -$389K +57,303 +22.8%
22 AMLX 0.94% 350,000 $4M $12.08 -$71K +33,688 +10.7%
23 RCUS 0.90% 170,000 $4M $23.83 +170,000 NEW
24 CATX 0.69% 1,132,815 $3M $2.75 $2M +783,492 +224.3%
25 HROW 0.08% 7,031 $345K $49.00 +7,031 NEW
26 GERN —% -$1M -845,000 -100.0% SOLD
27 NRIX —% -$4M -437,237 -100.0% SOLD
28 QURE —% -$4M -75,000 -100.0% SOLD
29 AGIO —% -$5M -133,827 -100.0% SOLD
30 CDTX —% -$12M -121,000 -100.0% SOLD

New Positions

SymbolValue% Port
ONC $21M 4.68%
TERN $13M 2.87%
COGT $11M 2.50%
XENE $6M 1.36%
ARQT $6M 1.35%
SYRE $5M 1.09%
RCUS $4M 0.90%
HROW $345K 0.08%

Sold Out Positions

SymbolValue% Port
GERN —%
AGIO —%
QURE —%
NRIX —%
CDTX —%
View SEC EDGAR Filings for Patient Square Capital LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms