Patient Square Capital LP
MENLO PARK, CA
$646m in 23 US stocks at the end of 30 June 2026. The top 10 are 80.1% of the money. It changed about 25.4% of the portfolio this quarter.
Value
$646m
Stocks
23
Top 10 share
80.1%
Turnover
25.4%
What changed this quarter
New
Bought for the first time this quarter.
- Revolution MedicinesRVMD8.0% of the fund
- United TherapeuticsUTHR3.1% of the fund
- Biontech SEBNTX1.9% of the fund
- C4 TherapeuticsCCCC1.2% of the fund
- InventivaIVA1.2% of the fund
- Faeth TherapeuticsFTH0.7% of the fund
Added
Bought more of a stock they already held.
- Mirum PharmaceuticalsMIRM4.7% of the fund+13%
- Abivax SAABVX4.3% of the fund+70%
- Beone MedicinesONC4.0% of the fund+12%
- PharvarisPHVS3.6% of the fund+36%
- DBV Technologies S ADBVT2.3% of the fund+31%
- Arcus BiosciencesRCUS1.7% of the fund+82%
- Enliven TherapeuticsELVN1.7% of the fund+6%
- Dianthus TherapeuticsDNTH1.6% of the fund+15%
- Allogene TherapeuticsALLO1.6% of the fund+46%
Cut
Sold some of their stake.
- Argenx SEARGX3.3% of the fund-37%
- Belite BIOBLTE2.6% of the fund-6%
- Cogent BiosciencesCOGT2.5% of the fund-29%
- Xenon PharmaceuticalsXENE2.1% of the fund-3%
- EyePointEYPT1.6% of the fund-9%
- Arcutis BiotherapeuticsARQT1.5% of the fund-8%
- Kymera TherapeuticsKYMR0.8% of the fund-53%
Sold out
Sold their entire stake.
- InsmedINSM-100%
- Legend BiotechLEGN-100%
- Nektar TherapeuticsNKTR-100%
- CelcuityCELC-100%
- MerckMRK-100%
- Perspective TherapeuticsCATX-100%
- Definium TherapeuticsDFTX-100%
- HarrowHROW-100%
- Protara TherapeuticsTARA-100%
- CytomX TherapeuticsCTMX-100%
- Assembly BiosciencesASMB-100%
- Spyre TherapeuticsSYRE-100%
Holdings
- Abivax SAABVX
- Share
- 4.3%
- Value
- $28m
- Shares
- 206,500
+70%
- Beone MedicinesONC
- Share
- 4.0%
- Value
- $26m
- Shares
- 90,020
+12%
- Argenx SEARGX
- Share
- 3.3%
- Value
- $21m
- Shares
- 23,000
-37%
- Belite BIOBLTE
- Share
- 2.6%
- Value
- $17m
- Shares
- 110,000
-6%
- DBV Technologies S ADBVT
- Share
- 2.3%
- Value
- $15m
- Shares
- 909,474
+31%
- Biontech SEBNTX
- Share
- 1.9%
- Value
- $13m
- Shares
- 134,429
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Roivant SciencesROIV | 44.0% | $284m | 8,020,928 | Held |
| Revolution MedicinesRVMD | 8.0% | $52m | 276,000 | New |
| Mirum PharmaceuticalsMIRM | 4.7% | $30m | 260,500 | +13% |
| Abivax SAABVX | 4.3% | $28m | 206,500 | +70% |
| Beone MedicinesONC | 4.0% | $26m | 90,020 | +12% |
| PharvarisPHVS | 3.6% | $23m | 671,209 | +36% |
| Argenx SEARGX | 3.3% | $21m | 23,000 | -37% |
| United TherapeuticsUTHR | 3.1% | $20m | 37,120 | New |
| Belite BIOBLTE | 2.6% | $17m | 110,000 | -6% |
| Cogent BiosciencesCOGT | 2.5% | $16m | 425,000 | -29% |
| DBV Technologies S ADBVT | 2.3% | $15m | 909,474 | +31% |
| Xenon PharmaceuticalsXENE | 2.1% | $13m | 220,000 | -3% |
| Biontech SEBNTX | 1.9% | $13m | 134,429 | New |
| Arcus BiosciencesRCUS | 1.7% | $11m | 355,800 | +82% |
| Enliven TherapeuticsELVN | 1.7% | $11m | 212,500 | +6% |
| Dianthus TherapeuticsDNTH | 1.6% | $11m | 108,000 | +15% |
| Allogene TherapeuticsALLO | 1.6% | $11m | 5,050,000 | +46% |
| EyePointEYPT | 1.6% | $10m | 720,000 | -9% |
| Arcutis BiotherapeuticsARQT | 1.5% | $10m | 370,000 | -8% |
| C4 TherapeuticsCCCC | 1.2% | $8m | 1,608,815 | New |
| InventivaIVA | 1.2% | $7m | 1,967,171 | New |
| Kymera TherapeuticsKYMR | 0.8% | $5m | 47,500 | -53% |
| Faeth TherapeuticsFTH | 0.7% | $4m | 175,050 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 132.7% since 30 June 2025.
Where the money is
Health care81.6%
Other18.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.