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RPAM

Rhenman & Partners Asset Management Portfolio holdings

AUM $810M
1-Year Est. Return 30.2%
This Fund
S&P 500
This Quarter Est. Return
+11.58%
1 Year Est. Return
+30.2%
3 Year Est. Return
+116.38%
5 Year Est. Return
+153.13%
10 Year Est. Return
+962.25%
AUM
$904M
AUM Growth
+$113M
Cap. Flow
+$79M
Cap. Flow %
8.74%
Top 10 Hldgs %
30.09%
Holding
103
New
13
Increased
46
Reduced
23
Closed
11

Top Buys

Rank Stock Value
1
BSX icon
Boston Scientific
BSX
+$14.7M
2
ABBV icon
AbbVie
ABBV
+$12.4M
3
UNH icon
UnitedHealth
UNH
+$9.71M
4
AXSM icon
Axsome Therapeutics
AXSM
+$9.24M
5
PRCT icon
Procept Biorobotics
PRCT
+$9.13M

Top Sells

Rank Stock Value
1
DXCM icon
DexCom
DXCM
+$13.9M
2
THC icon
Tenet Healthcare
THC
+$13.8M
3
HCA icon
HCA Healthcare
HCA
+$11.4M
4
VRNA
Verona Pharma
VRNA
+$10.1M
5
GILD icon
Gilead Sciences
GILD
+$10M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LIVN icon
76
LivaNova
LIVN
$4.28B
$2.78M 0.31%
53,000
– –
ANNX icon
77
Annexon
ANNX
$870M
$2.51M 0.28%
823,000
+363,000
+79% +$901K
UHS icon
78
Universal Health Services
UHS
$10B
$2.45M 0.27%
12,000
-14,000
-54% -$2.52M
JANX icon
79
Janux Therapeutics
JANX
$1.02B
$2.45M 0.27%
100,127
+45,000
+82% +$1.1M
RLAY icon
80
Relay Therapeutics
RLAY
$4.4B
$2.4M 0.27%
460,000
– –
IOVA icon
81
Iovance Biotherapeutics
IOVA
$2.89B
$2.38M 0.26%
1,097,827
+450,000
+69% +$1.06M
OCUL icon
82
Ocular Therapeutix
OCUL
$2.11B
$2.36M 0.26%
+202,000
New +$2.42M
KRYS icon
83
Krystal Biotech
KRYS
$9.74B
$2.07M 0.23%
11,750
-1,000
-8% -$150K
XNCR icon
84
Xencor
XNCR
$1.64B
$1.94M 0.22%
165,750
– –
BTSG icon
85
BrightSpring Health Services
BTSG
$11.6B
$1.77M 0.2%
+60,000
New +$1.39M
MLTX icon
86
MoonLake Immunotherapeutics
MLTX
$1.39B
$1.48M 0.16%
207,000
+162,000
+360% +$8.44M
DNLI icon
87
Denali Therapeutics
DNLI
$4B
$1.45M 0.16%
100,000
– –
STVN icon
88
Stevanato
STVN
$5.78B
$1.31M 0.15%
+51,000
New +$1.26M
IRTC icon
89
iRhythm Holdings
IRTC
$4.05B
$1.2M 0.13%
+7,000
New +$1.11M
IMCR icon
90
Immunocore
IMCR
$1.74B
$1.03M 0.11%
28,278
– –
TECH icon
91
Bio-Techne
TECH
$11.2B
$834K 0.09%
15,000
– –
ATEC icon
92
Alphatec Holdings
ATEC
$1.47B
$262K 0.03%
+18,000
New +$251K
ALC icon
93
Alcon
ALC
$36.5B
– –
-68,000
Closed -$5.99M
DXCM icon
94
DexCom
DXCM
$33.3B
– –
-159,500
Closed -$13.9M
HCA icon
95
HCA Healthcare
HCA
$89.1B
– –
-29,778
Closed -$11.4M
INMB icon
96
INmune Bio
INMB
$57.7M
– –
-178,284
Closed -$412K
MOH icon
97
Molina Healthcare
MOH
$10.2B
– –
-22,200
Closed -$6.61M
OSCR icon
98
Oscar Health
OSCR
$8.69B
– –
-312,092
Closed -$6.69M
RGEN icon
99
Repligen
RGEN
$9.44B
– –
-19,500
Closed -$2.43M
SMMT icon
100
Summit Therapeutics
SMMT
$11.8B
– –
-78,000
Closed -$1.66M
1 2 3
4
5

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KCP
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RIM
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Rhenman & Partners Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, Rhenman & Partners Asset Management held 103 positions worth $904M, up 14% from $791M the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Rhenman & Partners Asset Management deployed $79M of net new capital in Q3 2025, opening 13 new positions and adding to 46 existing holdings. Its largest new stake was Madrigal Pharmaceuticals: 18,250 shares worth $8.37M.

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 Tenet Healthcare, an estimated $13.8M trimmed.

  • Rhenman & Partners Asset Management's largest Q3 2025 buy was Madrigal Pharmaceuticals: 18,250 shares worth $8.37M.
  • Rhenman & Partners Asset Management added most to Boston Scientific in Q3 2025, an estimated $14.7M increase.
  • Rhenman & Partners Asset Management's biggest Q3 2025 reduction was Tenet Healthcare, cutting an estimated $13.8M.
  • Rhenman & Partners Asset Management fully exited DexCom in Q3 2025, selling an estimated $13.9M.
  • Rhenman & Partners Asset Management's ten largest holdings make up 30% of its $904M portfolio in Q3 2025.
  • Rhenman & Partners Asset Management opened 13 new positions and closed 11 in Q3 2025.
  • Rhenman & Partners Asset Management's portfolio value rose 14% quarter-over-quarter to $904M.

Based on Rhenman & Partners Asset Management's 13F filing for Q3 2025, filed 13 Nov 2025.