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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
+47.28%
1 Year Est. Return
+261.3%
3 Year Est. Return
+328.19%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$467M
AUM Growth
+$93.3M
Cap. Flow
-$29.2M
Cap. Flow %
-6.25%
Top 10 Hldgs %
77.48%
Holding
33
New
9
Increased
11
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
ONC
BeOne Medicines Ltd
ONC
+$22.7M
2
MIRM icon
Mirum Pharmaceuticals
MIRM
+$14M
3
ARGX icon
argenx
ARGX
+$8.99M
4
COGT icon
Cogent Biosciences
COGT
+$8.92M
5
TERN
Terns Pharmaceuticals
TERN
+$7.4M

Top Sells

Rank Stock Value
1
ROIV icon
Roivant Sciences
ROIV
+$85.1M
2
CDTX
Cidara Therapeutics
CDTX
+$11.6M
3
INSM icon
Insmed
INSM
+$10.8M
4
AGIO icon
Agios Pharmaceuticals
AGIO
+$5.37M
5
LQDA icon
Liquidia Corp
LQDA
+$4.93M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RCUS icon
26
Arcus Biosciences
RCUS
$3.55B
$4.05M 0.87%
+170,000
New +$3.47M
CATX icon
27
Perspective Therapeutics
CATX
$332M
$3.12M 0.67%
1,132,815
+783,492
+224% +$2.24M
HROW icon
28
Harrow
HROW
$1.45B
$345K 0.07%
+7,031
New +$295K
AGIO icon
29
Agios Pharmaceuticals
AGIO
$1.79B
– –
-133,827
Closed -$5.37M
CDTX
30
DELISTED
Cidara Therapeutics
CDTX
– –
-121,000
Closed -$11.6M
GERN icon
31
Geron
GERN
$828M
– –
-845,000
Closed -$1.16M
NRIX icon
32
Nurix Therapeutics
NRIX
$2.41B
– –
-437,237
Closed -$4.04M
QURE icon
33
uniQure
QURE
$3.03B
– –
-75,000
Closed -$4.38M
1
2

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KF
KKM Financial Chicago, Illinois $563M AUM 28.2% 1-Year Est. Return
KBG
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AAS
Asset Allocation Strategies Farmington, Michigan $563M AUM 15.65% 1-Year Est. Return
LC
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AMCA
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OC
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Patient Square Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Patient Square Capital held 33 positions worth $467M, up 25% from $374M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Patient Square Capital withdrew a net $29.2M in Q4 2025, closing 5 positions and reducing 7 holdings. Its most notable exit was Cidara Therapeutics, an estimated $11.6M position sold in full.

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

Against the trend, Patient Square Capital opened a new position in BeOne Medicines Ltd worth $21.1M.

  • Patient Square Capital's largest Q4 2025 buy was BeOne Medicines Ltd: 69,312 shares worth $21.1M.
  • Patient Square Capital added most to Mirum Pharmaceuticals in Q4 2025, an estimated $14M increase.
  • Patient Square Capital's biggest Q4 2025 reduction was Roivant Sciences, cutting an estimated $85.1M.
  • Patient Square Capital fully exited Cidara Therapeutics in Q4 2025, selling an estimated $11.6M.
  • Patient Square Capital's ten largest holdings make up 77% of its $467M portfolio in Q4 2025.
  • Patient Square Capital opened 9 new positions and closed 5 in Q4 2025.
  • Patient Square Capital's portfolio value rose 25% quarter-over-quarter to $467M.

Based on Patient Square Capital's 13F filing for Q4 2025, filed 12 Feb 2026.