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PHS

PFM Health Sciences Portfolio holdings

AUM $1.1B
1-Year Est. Return 57.92%
This Fund
S&P 500
This Quarter Est. Return
+25.74%
1 Year Est. Return
+57.92%
3 Year Est. Return
+183.93%
5 Year Est. Return
+283%
10 Year Est. Return
+2,507.28%
AUM
$1B
AUM Growth
-$297M
Cap. Flow
-$487M
Cap. Flow %
-48.53%
Top 10 Hldgs %
41.28%
Holding
103
New
31
Increased
13
Reduced
33
Closed
25

Top Buys

Rank Stock Value
1
MDT icon
Medtronic
MDT
+$20.8M
2
TMO icon
Thermo Fisher Scientific
TMO
+$20.1M
3
GKOS icon
Glaukos
GKOS
+$19.3M
4
SYK icon
Stryker
SYK
+$18.5M
5
UNH icon
UnitedHealth
UNH
+$17.1M

Top Sells

Rank Stock Value
1
LLY icon
Eli Lilly
LLY
+$150M
2
MCK icon
McKesson
MCK
+$55.9M
3
AXSM icon
Axsome Therapeutics
AXSM
+$38.9M
4
ISRG icon
Intuitive Surgical
ISRG
+$33M
5
COR icon
Cencora
COR
+$25.2M

Sector Composition

Rank Sector Weight
1 Healthcare 96.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INDV icon
26
Indivior Pharmaceuticals
INDV
$4.42B
$12.9M 1.29%
360,695
-200,831
-36% -$6.13M
CAH icon
27
Cardinal Health
CAH
$55.2B
$12.8M 1.28%
+62,341
New +$11.7M
UHS icon
28
Universal Health Services
UHS
$10.2B
$12.5M 1.25%
57,409
-58,851
-51% -$13M
TFX icon
29
Teleflex
TFX
$6.18B
$12.5M 1.25%
+102,395
New +$12.4M
RVMD icon
30
Revolution Medicines
RVMD
$38.8B
$12.1M 1.2%
151,453
-179,616
-54% -$11.8M
SLNO
31
DELISTED
Soleno Therapeutics
SLNO
$11.5M 1.14%
247,893
+4,492
+2% +$246K
PRAX icon
32
Praxis Precision Medicines
PRAX
$8.52B
$9.18M 0.92%
31,163
-29,415
-49% -$5.48M
ISRG icon
33
Intuitive Surgical
ISRG
$133B
$8.73M 0.87%
15,410
-61,993
-80% -$33M
GILD icon
34
Gilead Sciences
GILD
$163B
$8.72M 0.87%
+71,018
New +$8.63M
JAZZ icon
35
Jazz Pharmaceuticals
JAZZ
$15.8B
$8.59M 0.86%
+50,511
New +$7.74M
CVS icon
36
CVS Health
CVS
$134B
$8.55M 0.85%
107,767
-238,912
-69% -$18.8M
SNY icon
37
Sanofi
SNY
$103B
$8.55M 0.85%
+176,413
New +$8.74M
IQV icon
38
IQVIA
IQV
$38.4B
$8.53M 0.85%
+37,852
New +$8.24M
ITGR icon
39
Integer Holdings
ITGR
$4.23B
$8.36M 0.83%
+106,585
New +$8.49M
COO icon
40
Cooper Companies
COO
$14.5B
$8.26M 0.82%
100,802
+26,439
+36% +$1.98M
VEEV icon
41
Veeva Systems
VEEV
$33.5B
$7.25M 0.72%
32,489
-9,014
-22% -$2.39M
OSCR icon
42
Oscar Health
OSCR
$9.27B
$7.18M 0.72%
499,837
-320,805
-39% -$5.55M
BLLN
43
BillionToOne Inc
BLLN
$6.32B
$7.16M 0.71%
+87,547
New +$8.88M
CGON icon
44
CG Oncology
CGON
$6.1B
$6.81M 0.68%
163,967
+6,093
+4% +$252K
VKTX icon
45
Viking Therapeutics
VKTX
$3.8B
$6.65M 0.66%
188,956
+5,418
+3% +$192K
ALGN icon
46
Align Technology
ALGN
$12.4B
$6.61M 0.66%
+42,304
New +$6.06M
HCA icon
47
HCA Healthcare
HCA
$88B
$6.47M 0.65%
13,865
-51,908
-79% -$24.1M
PSNL icon
48
Personalis
PSNL
$1.41B
$6.41M 0.64%
+805,817
New +$7.05M
VERA icon
49
Vera Therapeutics
VERA
$2.31B
$5.45M 0.54%
107,690
-405,995
-79% -$14.4M
CMPS
50
Compass Pathways
CMPS
$1.52B
$5.38M 0.54%
779,618
-883,218
-53% -$5.39M
1
2
3 4 5

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PFM Health Sciences's Q4 2025 Portfolio in Review

As of Q4 2025, PFM Health Sciences held 103 positions worth $1B, down 23% from $1.3B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

PFM Health Sciences withdrew a net $487M in Q4 2025, closing 25 positions and reducing 33 holdings. Its most notable exit was McKesson, an estimated $55.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 97% of assets, up from 88% a quarter earlier.

Against the trend, PFM Health Sciences opened a new position in Medtronic worth $20.5M.

  • PFM Health Sciences's largest Q4 2025 buy was Medtronic: 213,796 shares worth $20.5M.
  • PFM Health Sciences added most to Thermo Fisher Scientific in Q4 2025, an estimated $20.1M increase.
  • PFM Health Sciences's biggest Q4 2025 reduction was Eli Lilly, cutting an estimated $150M.
  • PFM Health Sciences fully exited McKesson in Q4 2025, selling an estimated $55.9M.
  • PFM Health Sciences's ten largest holdings make up 41% of its $1B portfolio in Q4 2025.
  • PFM Health Sciences opened 31 new positions and closed 25 in Q4 2025.
  • PFM Health Sciences's portfolio value fell 23% quarter-over-quarter to $1B.

Based on PFM Health Sciences's 13F filing for Q4 2025, filed 17 Feb 2026.