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PSC

Patient Square Capital Portfolio holdings

AUM $564M
1-Year Est. Return 261.3%
This Fund
S&P 500
This Quarter Est. Return
+18.18%
1 Year Est. Return
+261.3%
3 Year Est. Return
+328.19%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$564M
AUM Growth
+$96.5M
Cap. Flow
+$36.5M
Cap. Flow %
6.47%
Top 10 Hldgs %
73.28%
Holding
35
New
7
Increased
11
Reduced
10
Closed
6

Top Buys

Rank Stock Value
1
BLTE
Belite Bio
BLTE
+$19.6M
2
LEGN icon
Legend Biotech
LEGN
+$18.9M
3
NKTR icon
Nektar Therapeutics
NKTR
+$12M
4
COGT icon
Cogent Biosciences
COGT
+$10.3M
5
MRK icon
Merck
MRK
+$9.24M

Top Sells

Rank Stock Value
1
INSM icon
Insmed
INSM
+$16.8M
2
TERN
Terns Pharmaceuticals
TERN
+$12.9M
3
LQDA icon
Liquidia Corp
LQDA
+$7.83M
4
MIRM icon
Mirum Pharmaceuticals
MIRM
+$6.46M
5
OCUL icon
Ocular Therapeutix
OCUL
+$5.95M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ROIV icon
1
Roivant Sciences
ROIV
$24.1B
$226M 40.13%
8,166,047
– –
ARGX icon
2
argenx
ARGX
$52B
$26.8M 4.76%
36,718
+10,718
+41% +$8.39M
INSM icon
3
Insmed
INSM
$21.3B
$25.8M 4.57%
157,500
-109,500
-41% -$16.8M
ONC
4
BeOne Medicines Ltd
ONC
$32.6B
$23.9M 4.24%
80,542
+11,230
+16% +$3.64M
COGT icon
5
Cogent Biosciences
COGT
$6.64B
$22.9M 4.07%
596,000
+278,628
+88% +$10.3M
MIRM icon
6
Mirum Pharmaceuticals
MIRM
$6.38B
$21.2M 3.77%
230,000
-68,682
-23% -$6.46M
BLTE
7
Belite Bio
BLTE
$6.2B
$18.6M 3.3%
+116,684
New +$19.6M
LEGN icon
8
Legend Biotech
LEGN
$3.68B
$17.9M 3.18%
+990,000
New +$18.9M
NKTR icon
9
Nektar Therapeutics
NKTR
$2.38B
$15.1M 2.68%
+210,000
New +$12M
DBVT
10
DBV Technologies
DBVT
$804M
$14.5M 2.57%
693,534
+334,484
+93% +$6.99M
PHVS icon
11
Pharvaris
PHVS
$2.25B
$13.9M 2.47%
493,000
-49,696
-9% -$1.33M
ABVX
12
Abivax
ABVX
$10.9B
$13.5M 2.4%
121,245
-8,755
-7% -$1.04M
XENE icon
13
Xenon Pharmaceuticals
XENE
$6.02B
$13.2M 2.34%
227,000
+90,500
+66% +$4.17M
CELC icon
14
Celcuity
CELC
$4.28B
$10.8M 1.92%
95,000
-25,000
-21% -$2.73M
EYPT icon
15
EyePoint Inc
EYPT
$1.04B
$10.2M 1.82%
795,000
+15,000
+2% +$224K
MRK icon
16
Merck
MRK
$316B
$9.62M 1.71%
+80,000
New +$9.24M
ARQT icon
17
Arcutis Biotherapeutics
ARQT
$3.24B
$9.44M 1.67%
400,645
+190,645
+91% +$4.87M
ALLO icon
18
Allogene Therapeutics
ALLO
$635M
$8.42M 1.49%
3,450,000
-1,513,756
-30% -$3.03M
KYMR icon
19
Kymera Therapeutics
KYMR
$8.25B
$8.33M 1.48%
100,000
-39,000
-28% -$3.09M
DNTH icon
20
Dianthus Therapeutics
DNTH
$5.8B
$7.88M 1.4%
93,882
-56,118
-37% -$3.25M
ELVN icon
21
Enliven Therapeutics
ELVN
$4.15B
$7.84M 1.39%
200,000
-108,141
-35% -$3M
CATX icon
22
Perspective Therapeutics
CATX
$343M
$6.78M 1.2%
1,625,000
+492,185
+43% +$2.08M
DFTX
23
Definium Therapeutics
DFTX
$5.55B
$6.26M 1.11%
+331,000
New +$5.62M
HROW icon
24
Harrow
HROW
$1.46B
$5.83M 1.03%
165,209
+158,178
+2,250% +$6.95M
TARA icon
25
Protara Therapeutics
TARA
$223M
$5.37M 0.95%
+1,030,846
New +$6.1M
1
2

Similar funds

TCP
ThornTree Capital Partners Boston, Massachusetts $564M AUM 36.37% 1-Year Est. Return
AHSW
Adventist Health System West Roseville, California $564M AUM 17.1% 1-Year Est. Return
KF
KKM Financial Chicago, Illinois $563M AUM 28.2% 1-Year Est. Return
KBG
Kahn Brothers Group New York $564M AUM 25.3% 1-Year Est. Return
AAS
Asset Allocation Strategies Farmington, Michigan $563M AUM 15.65% 1-Year Est. Return
LC
Lavaca Capital Houston, Texas $564M AUM 4.6% 1-Year Est. Return
AMCA
Arthur M. Cohen & Associates Northbrook, Illinois $563M AUM 20.97% 1-Year Est. Return
OC
Opal Capital Boca Raton, Florida $565M AUM

Patient Square Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Patient Square Capital held 35 positions worth $564M, up 21% from $467M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Patient Square Capital deployed $36.5M of net new capital in Q1 2026, opening 7 new positions and adding to 11 existing holdings. Its largest new stake was Belite Bio: 116,684 shares worth $18.6M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.

On the sell side, the largest reduction was Insmed, an estimated $16.8M trimmed.

  • Patient Square Capital's largest Q1 2026 buy was Belite Bio: 116,684 shares worth $18.6M.
  • Patient Square Capital added most to Cogent Biosciences in Q1 2026, an estimated $10.3M increase.
  • Patient Square Capital's biggest Q1 2026 reduction was Insmed, cutting an estimated $16.8M.
  • Patient Square Capital fully exited Terns Pharmaceuticals in Q1 2026, selling an estimated $12.9M.
  • Patient Square Capital's ten largest holdings make up 73% of its $564M portfolio in Q1 2026.
  • Patient Square Capital opened 7 new positions and closed 6 in Q1 2026.
  • Patient Square Capital's portfolio value rose 21% quarter-over-quarter to $564M.

Based on Patient Square Capital's 13F filing for Q1 2026, filed 15 May 2026.